Earnings release
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(*) pro-forma net of a number of extraordinary and non -recurring costs, including the extraordinary effects of the M&A transactions completed in December 2025 (acquisition of Woolrich Europe S.p.A. and of Sundek S.p.A.). BASICNET – First nine months 2026: consolidated revenues grow 21.6% and integration of the new Woolrich® and Sundek® brands continues Turin, October 21, 2026 – The Board of Directors of BasicNet S.p.A. has reviewed the Group performance for 9M 2026. In summary: consolidated revenues of Euro 369.0 million (Euro 303.4 million in 2025) +21.6%, which include: direct sales: Euro 327.4 million, up 29.6% (Euro 252.7 million in 9M 2025), supported also by the contribution of Woolrich ® and Sundek ®, the integration and progressive consolidation of European retail operations, and the strong growth of the e -commerce channel, in which the Group continues to invest; royalties and sourcing commissions from third- party productive and commercial licensees: Euro 40.8 million (Euro 49.9 million in 9M 2025, -18.1%). Worldwide aggregate sales generated by third -party commercial licensees and direct sales totalled Euro 745.0 million (Euro 668.1 million in 9M 2025, +11.5%), with growth both in Europe (+13.9%), which accounts f or approximately 83% of aggregate sales and on which the Group’s development projects have focused, and in the Middle East and Africa (+11.5%). Sales were substantially stable in Asia and Oceania, while again contracting in the Americas (-19.0%). For a clearer view of the Group’s operating performance in the period, the indicators below have been calculated based on the pro -forma consolidated figures, excluding the income statement effects of non - recurring charges and income (listed below) from the M&A tra nsactions completed at the end of 2025 , which led to the acquisition of Woolrich Europe S.p.A. and of Sundek S.p.A. The comparative figures for 2025 are also presented on a pro-forma basis, net of the extraordinary items resulting from the sale of approximately 40% of the stake held in K-Way S.p.A. EBITDA(*): Euro 38.0 million ( Euro 39.8 million as at 30 September 2025). The result reflects the Group’s ongoing transformation and expansion phase, marked by investments and costs incurred to integrate Woolrich ® and Sundek® and their progressive inclusion into the Group’s business model. Net of non-recurring extraordinary charges of Euro 7.1 million, the period’s EBITDA is beginning to benefit from the efficiencies and cost savings arising from the relocation of the registered office and the gradual closure of underperforming Woolrich facilities (including the Milan showroom and some retail stores). The period is still impacted by the related operating and personnel costs which, although not qualifying as non -recurring items for the purposes of defining the pro forma indicators, are expected to gradually decline as the integration process progresses towards completion. EBIT(*): Euro 8.9 million (Euro 23.4 million in the same period of 2025), following the recognition of amortisation and depreciation on tangible and intangible assets of Euro 11.3 million and depreciation on right- of-use assets totalling Euro 17.8 million, more than doubled compared to 2025, primarily due to the expansion of the retail network foll owing the recent acquisitions and new store openings. Although already adjusted for non-recurring extraordinary charges of Euro 7.3 million, EBIT also includes depreciation on right- of-use assets accruing to the period relating to lease agreements which have been terminated or are in the process of being terminated. These items are also not expected to recur in subsequent periods.
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Excluding these effects, EBITDA and EBIT would be higher and would better reflect the Group’s structural profitability, which is expected to benefit progressively from the synergies arising from the integration of the Woolrich® and Sundek® brands. The net financial position with banks was Euro - 174.2 million (Euro - 74.4 million at December 31, 2025) and primarily reflects the financial debt incurred by the Group at the end of 2025 following the acquisitions of Woolrich® and Sundek ®. As already reported with the half -year results, the Group has completed the refinancing of Sundek’s debt, repaying the previous syndicate d loan and the additional outstanding unsecured loans, and has rebalanced its maturity profile by shifting a portion of the debt from short- term to medium to long-term. The o verall net financial position a mounted to Euro -273.8 million (Euro - 191.0 million at December 31, 2025). In the first nine months of 2026, dividends totalling Euro 7.6 million were distributed to BasicNet shareholders, with capital reserves of Euro 2.0 million returned to minority shareholders and Euro 6.8 million of treasury shares acquired. OUTLOOK Against a highly uncertain geopolitical and macroeconomic backdrop, the Group continues its development through a gradual approach focused on brand enhancement and value creation over the medium to long -term. The focus remains on integrating Woolrich ® and Sundek® into the BasicNet model, on consolidating the direct presence in Europe and on developing the commercial and operating synergies among the brands. Investments supporting this path will continue to characterise the Group’s operations , with the aim of strengthening the Group’s multi- brand positioning and seizing the growth opportunities offered by the new consolidation scope, while preserving the identity and authenticity of each brand. Group CFO Marco Enrico will present the 9M 2026 results during a video conference to be held today, in English, at 6PM CET. Participate via computer or mobile app or remote device Participate at the meeting now Meeting ID: 394 182 496 995 365 2 / Passcode: vG6Np2uB Alternatively, attend by calling (only audio) +39 02 0062 4808,,404332528# Italia, Milano - Conference Call ID: 404 332 528# The presentation may be downloaded from the website www.BasicNet.com, from the section: “financial data/other information and presentations” shortly before the video conference, at the following link: https://www.basicnet.com/contenuti/datifinanziari/informazioniannuali.asp?menuSelectedID=3g In relation to the “alternative performance measures”, as defined by the ESMA/2015/1415 guidelines, we provide below a definition of the measures used in this press release: EBIT the “operating result” EBITDA the “operating result” before “amortisation and depreciation”. Consolidated revenues the sum of royalties, sourcing commissions and sales of the BasicNet Group companies and real estate revenues from third parties. Net Financial Position total of current and medium/long -term financial payables, less cash and cash equivalents and other current financial assets. Net financial position with banks the Net financial position, net of payables for r ights-of-use and payables for the acquisition of company shares. Third-party commercial licensees or licensees independent business owners, granted licenses to distribute Group brands products in their respective regions. Commercial licensees and direct aggregate sales sales by commercial licensees, recognised by the BasicNet Group to the royalties account and the sales by the Group companies.
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*** The Executive Officer for Financial Reporting, Marco Enrico, declares in accordance with Article 154 -bis, paragraph 2, of the Consolidated Finance Act that the accounting information contained in the present press release corresponds to the underlying accounting documents, records and accounting entries.