Earnings release
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PRESS RELEASE Ospitaletto (BS), 8 September 2026 SABAF: RESULTS AT 30 June 2026 APPROVED ➢ CONSOLIDATED RESULTS FOR THE FIRST HALF OF 2026 adj REVENUE1: €143.6 million (€145.7 million in H1 2025) REVENUE: €144.7 million (€143 million in H1 2025) adj EBITDA: €20.2 million (€21.3 million in H1 2025) EBITDA: €20.9 million (€20.2 million in H1 2025) adj EBITDA/REVENUE: 14.1% (14.6% in H1 2025) EBITDA/REVENUE: 14.4 % (14.2 % in H1 2025) adj EBIT: €10 million (€11.1 million in H1 2025) EBIT: €8 million (€7.8 million in H1 2025) adj NET RESULT: €3.5 million (€6.7 million in H1 2025) NET RESULT: € -0.9 million (€5.2 million in H1 2025) INVESTMENTS: €9.2 million (€12.1 million in H1 2025; €18 million in FY 2025) NET FINANCIAL POSITION: €85.2 million (€75.2 million at 31 December 2025; €79.4 million at 30 June 2025) ➢ CONSOLIDATED RESULTS FOR Q2 2026 adj REVENUE: €73.6 million (€70 million in Q1 2026; €71.1 million in Q2 2025) REVENUE: €74.3 million (€70.4 million in Q1 2026; €69.4 million in Q2 2025) adj EBITDA: €10.7 million (€9.5 million in Q1 2026; €10.9 million in Q2 2025) EBITDA: €11.1 million (€9.7 million in Q1 2026; €10 million in Q2 2025) adj EBITDA/REVENUE: 14.5% (13.6% in Q1 2026; 15.3% in Q2 2025) EBITDA/REVENUE: 15% (13.8% in Q1 2026; 14.4% in Q2 2025) adj EBIT: €5.5 million (€4.5 million in Q1 2026; €5.8 million in Q2 2025) EBIT: €4.6 million (€3.3 million in Q1 2026; €4 million in Q2 2025) adj NET RESULT: €0.9 million (€2.6 million in Q1 2026; €3.2 million in Q2 2025) NET RESULT: € -2 million (€1.1 million in Q1 2026; €1.4 million in Q2 2025) ➢ OUTLOOK The current order backlog points to moderate sales growth for the current financial year, supported by the steady progress of organic growth initiatives in the second half of the year. In order to maintain operational profitability in the face of the expec ted higher costs of key raw materials and energy, the Group has adjusted its price lists and has also launched further initiatives aimed at improving operational efficiency. 1 Consolidated normalised (adj) economic results exclude the impact of applying IAS 29 Financial Reporting in Hyperinflationary Economies. This representation allows a better understanding of the Group's performance and of its comparison with previous periods.
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Gianluca Beschi, Chief Executive Officer of Sabaf, commented: “In a market that is still affected by the economic impacts of the geopolitical crisis (rising operating costs and weak demand), the Group has demonstrated good resilience. Its performance in the second quarter was particularly positive, with key operating indicators gradually improving . The half-year results demonstrate the validity of our strategic development priorities, in particular the diversification of our product range and the strengthening of our production organisation, which enable us to look forward with confidence to new opportunities for growth.” ***************************************************************************** The Board of Directors of Sabaf S.p.A. met today in Ospitaletto to approve the Half-Yearly Report at 30 June 2026. It should be noted that as from April 2022, Turkey - the country where Sabaf has production plants - is considered to be a "hyperinflationary" economy according to the criteria set out in "IAS 29 - Financial Reporting in Hyperinflationary Economies". The p ress release commented on the normalised consolidated economic results excluding the impact of the application of IAS 29. This representation allows a better understanding of the Group's performance and a more accurate comparison with previous periods. Consolidated results for the first half of 2026 Data in thousands of € H1 2026 H1 2025 2026-2025 change % change 12 MONTHS 2025 Sales revenue 144,666 143,000 1,666 +1.2% 278,201 Hyperinflation – Turkey (1,050) 2,738 1,035 Normalised revenue 143,616 145,738 (2,122) -1.5% 279,236 EBITDA 20,851 20,237 614 +3.0% 40,780 EBITDA % 14.4 14.2 14.7 Hyperinflation – Turkey (641) 1,090 570 Normalised EBITDA 20,210 21,327 (1,117) -5.2% 41,350 Normalised EBITDA % 14.1 14.6 14.8 EBIT 7,955 7,832 123 +1.6% 16,163 EBIT % 5.5 5.5 5.8 Hyperinflation – Turkey 2,060 3,233 4,986 Normalised EBIT 10,015 11,065 (1,050) -9.5% 21,149 Normalised EBIT % 7.0 7.6 7.6 Net result (937) 5,239 (6,176) -117.9% 5,180 Net result % -0.6 3.7 1.9 Hyperinflation – Turkey 4,417 1,459 7,696 Normalised result of the Group 3,480 6,698 (3,218) -48.0% 12,876 Normalised result % 2.4 4.6 4.6 In the first half of 2026, the Sabaf Group achieved normalised sales revenue of €143.6 million, down 1.5% compared to €145.7 million in the first half of 2025 (up 0.4% at constant exchange rates).
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Normalised half-year revenue H1 2026 % H1 2025 % % change 2025 FY % Europe (excluding Turkey) 44,810 31.3% 42,446 29.1% +5.6% 81,384 29.1% Turkey 32,450 22.6% 36,229 24.9% -10.4% 66,615 23.9% North America 31,766 22.1% 33,187 22.8% -4.3% 64,876 23.2% South America 19,600 13.6% 18,350 12.6% +6.8% 37,998 13.6% Africa and Middle East 5,466 3.8% 6,686 4.6% -18.2% 11,469 4.1% Asia and Oceania 9,524 6.6% 8,840 6.1% +7.7% 16,894 6.1% Total 143,616 100% 145,738 100% -1.5% 279,236 100% Sales in Europe and South America performed well compared with the first half of 2025, growing by 5.6% and 6.8%, respectively. Sales in Asia and Oceania also rose (+7.7%); although the volumes involved were modest, this reflects the benefits of the Group’s operations in the Indian market, which offers significant potential for growth and where the Group has a production plant of its own. By contrast, sales fell in Turkey (-10.4%), affected by the difficulties faced by some local customers and the weakness of the domestic market, and in the Africa and Middle East region (-18.2%), which is more exposed to geopolitical tensions. In North America, revenue fell by 4.3% at current exchange rates, whilst it showed moderate growth at constant exchange rates (+1.7%) thanks to higher production volumes at the Mexican plant. Normalised EBITDA for the first half of 2026 amounted to €20.2 million (14.1% of sales), down 5.2% compared with €21.3 million (14.6%) in the first half of 2025 due to the adverse impact of exchange rates (in particular the weakening of the US dollar). The decline was partl y offset by improved operational efficiency. Against a backdrop of broadly stable selling prices, the impact of rising raw material and energy costs was mitigated by the hedging measures put in place. Normalised EBIT was €10 million (7%), down 9.5% compared to €11.1 million (7.6%) in the first half of 2025. Given the positive performance of MEC - the US company in which the Group acquired a 51% stake in 2023 - the value of the put option granted to the minority shareholders for a 49% stake was adjusted at 30 June 2026. The related price is pegged to MEC's res ults for the two years preceding the exercise of the option. The related financial liability (now €19.1 million) increased by €4.1 million, with financial expenses of €3.6 million and foreign exchange losses of €0.5 million being recognised in the income statement. Normalised net profit for the period was €3.5 million (€6.7 million in the first half of 2025).
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Consolidated results for Q2 2026 Data in thousands of € Q2 2026 (*) Q1 2026 % change Q2 2026 (*) Q2 2025 (*) % change Sales revenue 74,280 70,386 +5.5% 74,280 69,353 +7.1% Hyperinflation – Turkey (647) (403) (647) 1,790 Normalised revenue 73,633 69,983 +5.2% 73,633 71,143 +3.5% EBITDA 11,129 9,722 +14.5% 11,129 9,987 +11.4% EBTIDA % 15.0 13.8 15.0 14.4 Hyperinflation – Turkey (436) (205) (436) 918 Normalised EBITDA 10,693 9,517 +12.4% 10,693 10,905 -1.9% Normalised EBITDA % 14.5 13.6 14.5 15.3 EBIT 4,642 3,313 +40.1% 4,642 3,970 +16.9% EBIT % 6.2 4.7 6.2 5.7 Hyperinflation – Turkey 903 1,157 903 1,850 Normalised EBIT 5,545 4,470 +24.0% 5,545 5,820 -4.7% Normalised EBIT % 7.5 6.4 7.5 8.2 Group net result (2,003) 1,066 -287.9% (2,003) 1,449 -238.2% Net result % -2.7 1.5 -2.7 2.1 Hyperinflation – Turkey 2,876 1,541 2,876 1,739 Normalised result of the Group 873 2,607 -66.5% 873 3,188 -72.6% Normalised result % 1.2 3.7 1.2 4.5 (*) unaudited figures In the second quarter of 2026, the Group recorded a positive trend, characterised by a gradual improvement in performance and the favourable development of key operating indicators. Normalised sales stood at €73.6 million, up by 5.2% compared to €70 million in the first quarter of 2026 and by 3.5% compared to €71.1 million in the second quarter of 2025 (up 4.4% at constant exchange rates). Normalised quarterly revenue Q2 2026* % Q2 2025* % % change 2025 FY % Europe (excluding Turkey) 21,958 29.8% 21,296 29.9% +3.1% 81,384 29.1% Turkey 16,400 22.3% 17,001 23.9% -3.5% 66,615 23.9% North America 16,498 22.4% 16,657 23.4% -1.0% 64,876 23.2% South America 10,001 13.6% 8,988 12.6% +11.3% 37,998 13.6% Africa and Middle East 3,397 4.6% 2,608 3.7% +30.3% 11,469 4.1% Asia and Oceania 5,379 7.3% 4,593 6.5% +17.1% 16,894 6.1% Total 73,633 100% 71,143 100% +3.5% 279,236 100% Europe, North and South America and Asia all recorded an increase in sales, driven by the strategic measures taken by management to consolidate the business and develop further commercial opportunities. The Africa and Middle East region also showed signs o f recovery during the second quarter, thus partially offsetting the decline in sales recorded in the first quarter of the financial year due to geopolitical instability.
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Normalised EBITDA for the second quarter was €10.7 million (14.5% of turnover), up by 12.4% compared to the figure of €9.5 million (13.6%) in the first quarter of 2026, having benefited from increased operations in the period. Compared with the second quarter of 2025 (€10.9 million, 15.3%), there was a 1.9% decrease due to unfavourable exchange rate fluctuations. Normalised EBIT was €5.5 million (7.5%), up 24% compared to €4.5 million in the first quarter of 2026 (6.4%) and down 4.7% compared to €5.8 million in the second quarter of 2025 (8.2%). Normalised net profit for the period was €0.9 million (€2.6 million in the first quarter of 2026 and €3.2 million in the second quarter of 2025). Financial position, cash flows and financial debt at 30 June 2026 Data in thousands of € 30/06/2026 31/12/2025 30/06/2025 Non-current assets 168,350 163,809 168,764 Current assets2 164,509 142,631 150,001 Current liabilities3 (80,670) (62,849) (74,658) Net working capital4 83,839 79,782 75,343 Provisions for risks and charges, post -employment benefits, deferred taxes, other Current (11,338) (8,593) (8,558) Net invested capital 240,851 234,998 235,549 Short-term net financial position (4,644) (1,498) (3,958) Medium/long-term net financial position (80,512) (73,712) (75,459) Net financial debt (85,156) (75,210) (79,417) Shareholders’ equity 155,695 159,788 156,132 Data in thousands of € 30/06/2026 31/12/2025 30/06/2025 Opening liquidity 34,536 30,641 30,641 Operating cash flow 15,425 35,088 19,687 Cash flow from investments (9,152) (17,955) (12,130) Free cash flow 6,273 17,133 7,557 Cash flow from financing activities 9,810 781 6,751 Payment of dividends (8,004) (7,949) (7,534) Treasury share transactions (1,179) (1,879) (1,262) Foreign exchange differences (1,352) (4,191) (2,483) Cash flow for the period 5,548 3,895 3,029 Closing liquidity 40,084 34,536 33,670 In the first half of 2026, operations generated cash flows of €6.3 million. At 30 June 2026, the impact of the net working capital on revenue was 29% compared to 26.3% at 30 June 2025 and 28.7% at the end of 2025. Net investments for the half -year came to €9.2 million ( €12.1 million in the first half of 2025 and €18 2 Sum of Inventories, Trade receivables, Tax receivables and Other current receivables 3 Sum of Trade payables, Tax payables and Other liabilities 4 Difference between current assets and current liabilities
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million for 2025). For 2026, the Group plans to invest approximately €16 million. At 30 June 2026, net financial debt was €85.2 million ( €75.2 million at 31 December 2025 and €79.4 million at 30 June 2025), against consolidated equity of €155.7 million. The net financial debt at 30 June 2026 includes the financial liability of €19.1 million related to the recognition of the put option granted to the minority shareholders of MEC and the financial liabilities of €6 million recognised in accordance with IFRS 16 (€5.8 million related to operating leases and €0.2 million related to finance leases). ***************************************************************************** The results will be presented to the financial community at 4.30 p.m. today, 8 September 2026, during a conference call (to join the conference call, please register in advance at the following link: Registrazione conference call Sabaf (Sabaf conference call registration). The Half-Yearly Report at 30 June 2026 will be made available to the public in accordance with and within the time limits prescribed by the law. Pursuant to article 154 -bis, paragraph 2 of the Italian Consolidated Finance Act (Testo Unico della Finanza), the Company’s Financial Reporting Officer Gianluca Beschi declares that the financial disclosure contained in this press release corresponds to th e Company's records, books and accounting entries. Quarterly results and normalised data are unaudited. Annexes: consolidated financial statements. For further information: Investor Relations Gianluca Beschi tel. +39 030 6843236 gianluca.beschi@sabaf.it www.sabafgroup.com Elena Gironi tel. +39 030 6843260 elena.gironi@sabaf.it www.sabafgroup.com Media relations Patrizia Vallecchi + 39 335 6334169 pvallecchi@twistergroup.it Arnaldo Ragozzino + 39 335 6978581 aragozzino@twistergroup.it Founded in the early fifties, SABAF has grown consistently over the years to become the key manufacturer in Italy – and one of the leading producers in the world – of components for household appliances. In recent years, through a policy of organic investm ents and through acquisitions, the Group expanded its product range and is now active in the following segments of the household appliance market: hinges and electronic components. In 2022, the Group announced its entry into the induction cooking component s market. Technological expertise, manufacturing flexibility, and the ability to offer a vast range of components – tailor-made to meet the requirements of individual manufacturers of cookers and built -in hobs and ovens and in line with the specific charac teristics of its core markets – are Sabaf’s key strengths in a sector featuring major specialisation, constantly evolving demand and an ever -increasing orientation towards products assuring total reliability and safety. The Sabaf Group has approximately 1, 800 employees in Italy, Turkey, Poland, Brazil, China, India, USA and Mexico. In addition to the Sabaf brand, the Group operates under the brands ARC (professional burners), Faringosi Hinges, C.M.I. and Mansfield (hinges), Okida and P.G.A. (electronic components).
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Consolidated statement of financial position (€/000) 30/06/2026 31/03/2026 31/12/2025 30/06/2025 ASSETS NON-CURRENT ASSETS Property, plant and equipment 106,006 104,744 102,185 104,004 Investment property 521 541 408 493 Intangible assets 54,846 55,292 54,443 56,457 Equity investments 86 86 86 86 Non-current receivables 446 1,064 984 989 Deferred tax assets 6,445 6,518 5,703 6,735 Total non-current assets 168,350 168,245 163,809 168,764 CURRENT ASSETS Inventories 70,824 67,462 61,791 65,336 Trade receivables 73,939 69,175 63,524 69,631 Tax receivables 14,183 13,272 14,023 11,438 Other current receivables 5,563 4,936 3,293 3,596 Current financial assets 4,496 3,424 3,994 1,656 Cash and cash equivalents 40,084 43,979 34,536 33,670 Total current assets 209,089 202,248 181,161 185,327 ASSETS HELD FOR SALE - - - - TOTAL ASSETS 377,439 370,493 344,970 354,091 SHAREHOLDERS' EQUITY AND LIABILITIES SHAREHOLDERS’ EQUITY Share capital 12,687 12,687 12,687 12,687 Retained earnings, Other reserves 76,191 85,672 73,042 77,853 IAS 29 reserve 59,551 58,477 60,993 52,818 Net profit for the period (937) 1,066 5,180 5,239 Total equity interest pertaining to the Parent Company 147,492 157,902 151,902 148,597 Minority interests 8,203 7,609 7,886 7,535 Total shareholders’ equity 155,695 165,511 159,788 156,132 NON-CURRENT LIABILITIES Loans 80,512 85,676 73,712 75,459 Post-employment benefits and retirement provisions 4,147 4,069 3,855 4,005 Provisions for risks and charges 757 763 848 327 Deferred tax liabilities 6,434 3,968 3,890 4,117 Other non-current payables - - - 109 Total non-current liabilities 91,850 94,476 82,305 84,017 CURRENT LIABILITIES Loans 30,098 25,518 25,042 26,260 Other financial liabilities 19,126 15,476 14,986 13,024 Trade payables 52,539 44,935 39,585 51,212 Tax payables 7,724 5,914 5,295 4,296 Other payables 20,407 18,663 17,969 19,150 Total current liabilities 129,894 110,506 102,877 113,942 LIABILITIES HELD FOR SALE - - - - TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 377,439 370,493 344,970 354,091
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Consolidated Income Statement (€/000) Q2 2026 (*) Q2 2025 (*) H1 2026 H1 2025 OPERATING REVENUE AND INCOME Revenue 74,280 69,353 144,666 143,000 Other income 3,390 2,372 6,091 5,435 Total operating revenue and income 77,670 71,725 150,757 148,435 OPERATING COSTS Materials (38,537) (34,838) (75,624) (71,876) Change in inventories 3,520 4,530 8,604 6,737 Services (13,096) (13,359) (25,955) (26,310) Personnel costs (18,392) (18,194) (37,358) (37,103) Other operating costs (810) (290) (922) (718) Costs for capitalised in-house work 774 413 1,349 1,072 Total operating costs (66,541) (61,738) (129,906) (128,198) OPERATING PROFIT BEFORE AMORTISATION/DEPRECIATION, CAPITAL GAINS/LOSSES AND IMPAIRMENT LOSSES/REVERSALS OF IMPAIRMENT LOSSES ON NON-CURRENT ASSETS (EBITDA) 11,129 9,987 20,851 20,237 Amortisation/depreciation (6,449) (6,031) (12,891) (12,309) Capital gains/(losses) on disposals of non-current assets (38) 11 (5) 13 Impairment losses/reversals of impairment losses on non-current assets - 3 - (109) OPERATING PROFIT (EBIT) 4,642 3,970 7,955 7,832 Financial income 268 141 536 341 Financial expenses (4,396) (3,542) (5,467) (4,732) Net income/(charges) from hyperinflation 1,176 689 340 2,535 Exchange rate gains and losses 969 792 1,554 1,351 PROFIT BEFORE TAXES 2,659 2,050 4,918 7,327 Income taxes (4,148) (166) (4,946) (1,219) NET RESULT FOR THE YEAR (1,489) 1,884 (28) 6,108 of which Minority interests 514 435 909 869 NET RESULT ATTRIBUTABLE TO THE GROUP (2,003) 1,449 (937) 5,239 (*) unaudited figures
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Consolidated statement of cash flows (€/000) H1 2026 H1 2025 Cash and cash equivalents at beginning of period 34,536 30,641 Net result for the period (28) 6,108 Adjustments for: - Depreciation and amortisation for the period 12,891 12,309 - Realised gains/losses 5 (13) - Profits and losses from equity investments - - - Impairment losses/Reversals of impairment losses on non-current assets - 109 - Revaluation IAS 29 4,417 1,459 - Financial income and expenses (508) 1,758 - IFRS 2 measurement stock grant plan (115) 389 - Income tax 4,946 1,219 - Non-monetary foreign exchange differences 553 (1,942) Change in post-employment benefits 292 (44) Change in risk provisions (91) 7 Change in trade receivables (9,701) (6,230) Change in inventories (8,433) (6,099) Change in trade payables 12,797 9,972 Change in net working capital (5,337) (2,357) Change in other receivables and payables, deferred taxes 422 2,997 Payment of taxes (676) (1,146) Payment of financial expenses (1,873) (1,484) Collection of financial income 527 318 Cash flows from operations 15,425 19,687 Investments in non-current assets - intangible (645) (1,423) - tangible (8,565) (10,876) - financial - - Disposal of non-current assets 58 169 Cash flows from investment activities (9,152) (12,130) Free cash flow 6,273 7,557 Repayment of loans (15,293) (26,054) New loans 25,379 31,454 Change in financial assets (276) 1,351 Purchase of treasury shares (1,179) (1,262) Payment of dividends (8,004) (7,534) Cash flows from financing activities 627 (2,045) Foreign exchange differences (1,352) (2,483) Net cash flows for the period 5,548 3,029 Cash and cash equivalents at end of period 40,084 33,670
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Total financial debt (€/000) 30/06/2026 31/12/2025 Change A. Cash 40,084 34,536 5,548 B. Cash equivalents - - - C. Other current financial assets 4,496 3,994 502 D. Liquidity (A+B+C) 44,580 38,530 6,050 E. Current financial payable 20,990 18,847 2,143 F. Current portion of non-current financial debt 28,234 21,181 7,053 G. Current financial debt (E+F) 49,224 40,028 9,196 H. Net current financial debt (G-D) 4,644 1,498 3,146 I. Non-current financial payable 50,704 43,922 6,782 J. Debt instruments 29,808 29,790 18 K. Trade payables and other non-current payables - - - L. Non-current financial debt (I+J+K) 80,512 73,712 6,800 M. Total financial debt (H+L) 85,156 75,210 9,946
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Reconciliation of the consolidated income statement of the first half of 2026 (€/000) H1 2026 IAS29 effect H1 2026 Normalised INCOME STATEMENT COMPONENTS OPERATING REVENUE AND INCOME Revenue 144,666 (1,050) 143,616 Other income 6,091 (32) 6,059 Total operating revenue and income 150,757 (1,082) 149,675 - OPERATING COSTS - Materials (75,624) 261 (75,363) Change in inventories 8,604 (125) 8,479 Services (25,955) 86 (25,869) Personnel costs (37,358) 218 (37,140) Other operating costs (922) 1 (921) Costs for capitalised in-house work 1,349 - 1,349 Total operating costs (129,906) 441 (129,465) - OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION, CAPITAL GAINS/LOSSES, AND IMPARIMENT LOSSES/REVERSALS OF IMPAIRMENT LOSSES OF NON-CURRENT ASSETS 20,851 (641) 20,210 Amortisation/depreciation (12,891) 2,701 (10,190) Capital gains on disposals of non-current assets (5) - (5) Impairment losses on non-current assets - - - EBIT 7,955 2,060 10,015 Financial income 536 (6) 530 Financial expenses (5,467) 3 (5,464) Net income/(charges) from hyperinflation 340 (340) - Exchange rate gains and losses 1,554 (41) 1,513 PROFIT BEFORE TAXES 4,918 1,676 6,594 Income taxes (4,946) 2,741 (2,205) NET RESULT FOR THE PERIOD (28) 4,417 4,389 of which: Minority interests 909 - 909 NET RESULT ATTRIBUTABLE TO THE GROUP (937) 4,417 3,480
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Reconciliation of the consolidated income statement of the first half of 2025 (€/000) H1 2025 IAS29 effect H1 2025 Normalised INCOME STATEMENT COMPONENTS OPERATING REVENUE AND INCOME Revenue 143,000 2,738 145,738 Other income 5,435 71 5,506 Total operating revenue and income 148,435 2,809 151,244 OPERATING COSTS Materials (71,876) (1,001) (72,877) Change in inventories 6,737 40 6,777 Services (26,310) (252) (26,562) Personnel costs (37,103) (505) (37,608) Other operating costs (718) (1) (719) Costs for capitalised in-house work 1,072 - 1,072 Total operating costs (128,198) (1,719) (129,917) OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION, CAPITAL GAINS/LOSSES, AND IMPARIMENT LOSSES/REVERSALS OF IMPAIRMENT LOSSES OF NON-CURRENT ASSETS 20,237 1,090 21,327 Amortisation/depreciation (12,309) 2,143 (10,166) Capital gains on disposals of non-current assets 13 - 13 Impairment losses on non-current assets (109) - (109) EBIT 7,832 3,233 11,065 Financial income 341 8 349 Financial expenses (4,732) (5) (4,737) Net income/(charges) from hyperinflation 2,535 (2,535) - Exchange rate gains and losses 1,351 271 1,622 PROFIT BEFORE TAXES 7,327 972 8,299 Income taxes (1,219) 487 (732) NET PROFIT FOR THE PERIOD 6,108 1,459 7,567 of which: Minority interests 869 - 869 PROFIT ATTRIBUTABLE TO THE GROUP 5,239 1,459 6,698
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Reconciliation of the Consolidated Income Statement for the Second Quarter 2026 (€/000) Q2 2026 IAS29 effect Q2 2026 Normalised INCOME STATEMENT COMPONENTS OPERATING REVENUE AND INCOME Revenue 74,280 (647) 73,633 Other income 3,390 (20) 3,370 Total operating revenue and income 77,670 (667) 77,003 - OPERATING COSTS - Materials (38,537) 114 (38,423) Change in inventories 3,520 (67) 3,453 Services (13,096) 47 (13,049) Personnel costs (18,392) 136 (18,256) Other operating costs (810) 1 (809) Costs for capitalised in-house work 774 - 774 Total operating costs (66,541) 231 (66,310) OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION, CAPITAL GAINS/LOSSES, AND IMPARIMENT LOSSES/REVERSALS OF IMPAIRMENT LOSSES OF NON-CURRENT ASSETS 11,129 (436) 10,693 Amortisation/depreciation (6,449) 1,339 (5,110) Capital gains on disposals of non-current assets (38) - (38) Impairment losses on non-current assets - - - EBIT 4,642 903 5,545 Financial income 268 (4) 264 Financial expenses (4,396) 2 (4,394) Net income/(charges) from hyperinflation 1,176 (1,176) - Exchange rate gains and losses 969 (16) 953 PROFIT BEFORE TAXES 2,659 (291) 2,368 Income taxes (4,148) 3,167 (981) NET RESULT FOR THE PERIOD (1,489) 2,876 1,387 of which: Minority interests 514 - 514 NET RESULT ATTRIBUTABLE TO THE GROUP (2,003) 2,876 873
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Reconciliation of the Consolidated Income Statement for the Second Quarter 2025 (€/000) Q2 2025 IAS29 effect Q2 2025 Normalised INCOME STATEMENT COMPONENTS OPERATING REVENUE AND INCOME Revenue 69,353 1,790 71,143 Other income 2,372 51 2,423 Total operating revenue and income 71,725 1,841 73,566 OPERATING COSTS Materials (34,838) (661) (35,499) Change in inventories 4,530 220 4,750 Services (13,359) (163) (13,522) Personnel costs (18,194) (321) (18,515) Other operating costs (290) 2 (288) Costs for capitalised in-house work 413 - 413 Total operating costs (61,738) (923) (62,661) OPERATING PROFIT BEFORE DEPRECIATION AND AMORTISATION, CAPITAL GAINS/LOSSES, AND IMPARIMENT LOSSES/REVERSALS OF IMPAIRMENT LOSSES OF NON-CURRENT ASSETS 9,987 918 10,905 Amortisation/depreciation (6,031) 932 (5,099) Capital gains on disposals of non-current assets 11 - 11 Impairment losses on non-current assets 3 - 3 EBIT 3,970 1,850 5,820 Financial income 141 7 148 Financial expenses (3,542) (4) (3,546) Net income/(charges) from hyperinflation 689 (689) - Exchange rate gains and losses 792 189 981 PROFIT BEFORE TAXES 2,050 1,353 3,403 Income taxes (166) 386 220 NET PROFIT FOR THE PERIOD 1,884 1,739 3,623 of which: Minority interests 435 - 435 PROFIT ATTRIBUTABLE TO THE GROUP 1,449 1,739 3,188
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Normalised revenue by product line (€/000) Normalised half-year revenue H1 2026 % H1 2025 % % change 2025 FY % Gas parts 86,353 60.1% 86,300 59.2% +0.1% 165,695 59.3% Hinges 46,061 32.1% 46,930 32.2% -1.9% 90,164 32.3% Electronic components 11,202 7.8% 12,508 8.6% -10.4% 23,377 8.4% Total 143,616 100% 145,738 100% -1.5% 279,236 100% Normalised quarterly revenue Q2 2026* % Q2 2025* % % change 2025 FY % Gas parts 45,155 61.3% 41,956 59.0% +7.6% 165,695 59.3% Hinges 23,050 31.3% 22,807 32.1% +1.1% 90,164 32.3% Electronic components 5,428 7.4% 6,380 9.0% -14.9% 23,377 8.4% Total 73,633 100% 71,143 100% +3.5% 279,236 100% (*) unaudited figures