Earnings release
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Technoprobe S.p.A. Via Cavalieri di Vittorio Veneto, 2 23870, Cernusco Lombardone (LC) - Italy www.technoprobe.com 1 PRESS RELEASE Board of Directors approves consolidated results as at September 30, 20251 Consolidated Revenues: €466.6 million, up 20.6% compared to nine months 2024 Consolidated EBITDA: €146.1 million, up 53.3% compared to the same period 2024, with a margin of 31.3% Positive Consolidated Net Financial Position of €665.7 million Cernusco Lombardone (LC), November 10th, 2025 - The Board of Directors of Technoprobe S.p.A., a leading company in the design and production of probe cards (the “Company” or “Technoprobe”) listed on Euronext Milan, met today to examine and approve the consolidated results as at September 30, 2025. Stefano Felici, Group Chief Executive Officer, said: “The quarterly results have met our expectations, driven by Technoprobe’s leading position in testing Logic AI chips. On the profitability front, we continue to benefit from synergies resulting from the integration of Dis Tech and the operating leverage. We expect to close 2025 with a significant growth in revenues and further improvement in margins sequentially and compared to 2024, despite the challenging geopolitical landscape, highly volatile reference market, and headwinds from the strengthening Euro against the US dollar. As of today, Technoprobe will continue to invest in developing advanced solutions to address the challenges of higher test intensity and test complexity, as well as to increase manufacturing capacity to meet the expected increase in demand for testing. Our goal is to maintain our leading position also in 2026, a year expected to be promising in the semiconductors testing space.” Financial results as at September 30, 2025 Consolidated revenues as at September 30, 2025 were €466.6 million, up 20.6% compared to the same period of 2024, driven by the growing demand related to artificial intelligence, the increase in volumes linked to the recovery of the consumer segment and the greater contribution of revenues from DisTech (acquisition has been finalized on May 27, 2024). The positive impact of these segments more than offsets softness in the automotive and industrial segment which suffered, mainly in the first part of the year, from the inventory correction. Consolidated Ebitda was €146.1 million with a margin of 31.3% increasing respectively by 53.3% and 670bps compared to the same period of 2024. The operating leverage driven by efficiency recovery and the reorganization of activities in the United States more than offset the dilutive effect resulting from the DIS Tech operations being included for the entire nine months of 2025, compared to the same period of 2024 when they were included starting from May 27, 2024. 1 It should be noted that the figures as at 30 September 2025 presented to the Company’s Board of Directors on November 10, 2025 were not audited.
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Technoprobe S.p.A. Via Cavalieri di Vittorio Veneto, 2 23870, Cernusco Lombardone (LC) - Italy www.technoprobe.com 2 As at September 30, 2025, the consolidated net financial position was positive for €665.7 million: in the nine months, the liquidity generated by operating activities, amounting to €114 million and from the sale of Santa Clara (California) building amounting to €26 million, was offset by investments incurred in the period equal to €51 million, by the acquisition of a minority stake in Yee Wei Inc. amounting to approximately €20 million and Innostar Service Inc. amounting to approximately €7 million. In addition, the foreign exchange effect on liquidity and buy-back plan had a negative impact of €29 million and €32 million respectively. Business outlook The last months of 2025 confirms the trends outlined at the beginning of the year across the various reference markets: - technological innovation is driving an increase in complexity which is impacting the yield of new products, acting as a driver for testing volumes. This dynamic is particularly evident in the datacenter segment, which is highly exposed to the evolution of artificial intelligence; - the consumer market is experiencing moderate growth: a significant upward in volumes is expected following the adoption of artificial intelligence that will drive a new expansion phase of this segment; - the automotive sector continues to show weakness, mainly due to a slowdown in demand, only partially offset by a slight improvement in the industrial segment. We completed the integration process resulting from recent acquisitions with the aim to maintain control over the entire supply chain of critical components and fostering technological development, also thanks to collaboration with industrial partners Teradyne and Advantest. Uncertainty in global trade policies and the worsening of the global geopolitical landscape still represent a significant source of instability. The Company constantly monitors the evolving complexity of the context and the related impact on its target markets with the aim to maintain its leadership and supporting its clients. Q4 2025 Guidance In light of the current situation, the Company provides the following outlook for the fourth quarter of 2025: Consolidated Revenues: €160m (+/-3%) Gross margin: 46.0% (+/-200 bps) Ebitda margin: 34.7% (+/-200 bps) Mr. Stefano Beretta, the officer in charge of preparing the corporate accounting documents of Technoprobe S.p.A. declares that pursuant to paragraph 2, Art. 154 bis of the Consolidated Law on Finance, to the best of his knowledge, the accounting information contained in the Presentation corresponds to the documental results, accounting books and records.
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Technoprobe S.p.A. Via Cavalieri di Vittorio Veneto, 2 23870, Cernusco Lombardone (LC) - Italy www.technoprobe.com 3 *** 9M 2025 results will be presented to the financial community during an audio webcast conference call today at 6:00 p.m. CET. This press release and the presentation will be available on Technoprobe’s website https://www.technoprobe.com/, in the Investor Relations section and on the authorized storage system named eMarket Storage” (www.emarketstorage.it). *** Contact Technoprobe S.p.A. Technoprobe S.p.A. Investor Relator Communication & Marketing Manager Ines Di Terlizzi Paolo Cavallotti Email: ir@technoprobe.com Email: paolo.cavallotti@technoprobe.com Technoprobe Group Technophobe is a leading company in the field of semiconductors and microelectronics. Established in 1996, Technoprobe is focused in the design and manufacture of Probe Cards, i.e. electro-mechanical interfaces used for the functional testing of chips. Probe cards are hi-tech devices that are custom- made for each chip and allow the function of chips to be tested during the manufacturing process. These technologically-advanced designs and solutions are essential for ensuring the proper functioning and reliability of devices that play a crucial role in industries such as Information Technology, 5G, Internet of Things, home automation, automotive, aerospace, etc. Technoprobe headquarters are in Cernusco Lombardone (LC). Since May 2nd, 2023 shares have been transferred to Euronext Milano segment. For more information, visit the website: www.technoprobe.com. Forward-looking statements Certain statements contained in this press release may constitute forward looking statements as defined by the Private Securities Litigation Reform Act of 1995. Such statements concern risks, uncertainties and other factors that could cause actual results to differ, even materially substantial, from those anticipated.These risks and uncertainties include, by way of example but not limited to, the ability to manage the effects of the current uncertain international economic situation, the ability to predict future economic conditions and changes in customer preferences, the ability to successfully introduce and commercialize new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favorable license agreements, currency fluctuations, changes in local conditions, the ability to protect intellectual property, information systems problems, inventory risks, credit and insurance risks, changes in tax regimes, as well as other political, economic, legal and technological factors and other risks and uncertainties already highlighted in the filings carried out at the National Commission for Companies and the Stock Exchange. These forward- looking statements have been made as of today and we undertake no obligation to update them. Alternative performance indicators This document, in addition to the financial measures provided for by the International Financial Reporting Standards (IFRS), also includes measures derived from the latter, even though not provided for by the IFRS (Non-GAAP Measures), in compliance with the ESMA Guidelines on Alternative Performance Indicators (ESMA/2015/1415) published on October 5, 2015. These measures are presented in order to allow for a better assessment of the Group's result of operations and financial condition and should not be considered as alternatives to those required by the IFRS. Since the calculation of these measures is not governed by the applicable accounting standards, the calculation methods applied by the Group may not be consistent with those used by other companies or groups and therefore these indicators may not be comparable. Therefore, investors should not place undue reliance on such indicators. Specifically, the Non-GAAP Measures presented were as follows: - EBITDA is a non-IFRS alternative performance indicator monitored by management to evaluate underlying business performance. EBITDA used by the Group is defined as net profit adjusted for: (i) income tax expenses, (ii) foreign exchange gains (losses), (iii) finance income (iv) finance expenses (v) other income (expenses), net, (vi) net impairment losses/reversals on financial assets and (vii) depreciation, amortization and impairment included in: selling, general and administrative, research and development and cost of revenue. - Net Financial Position determined in accordance with the provisions of CONSOB communication DEM/6064293 of July 28, 2006, as subsequently amended and in compliance with the ESMA 32-382-1138 Recommendation of March 4, 2021.