Slides
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H1-2026 RESULTS 4th September 2026
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Economics •Sales of products increased by 10.5% in H1-26, mainly thanks to volume(+8.7%) and prices (+1.8%) •Order book reached ȶ 333.3 million, up +48% YoY, +10.8% sequentially. •Adjusted EBITDA margin at 16.4% (vs 15.6% in Q2-25) +80 bps •Executive Summary Growth (+10.5%) Continues Above M/LT Guidance Record Order Backlog in Q2-26 + € 100 M Hyperscaler Contract Signed on April 26 2 Financial •Leverage improved at 0.7x (vs 1.2x in H1-25) •Cash flow from operation at ȶ 39.8 M, 12.2 % of sales (vs ȶ 30.3 M in H1-25) +31% YoY •LTM adjusted net cash generation: ȶ51.5 million Strategy •Well-Diversified Order Book Across Applications •First large order from hyperscaler granted on April 26 •Ongoing consolidation of operational improvements to enhance profitability. •New plant in US operational
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•Guidance Updated M/LT Guidance 3 ChangeM/LT Guidance September 2026 M/LT Guidance October 2022KPI UpgradedLDDHSDSales growth organic Upgraded15%-17%14%-15%Adjusted EBITDA margin Confirmed Mid-teens, excluding extraordinary fluctuations Mid Double Digit (net of extraordinary fluctuation) Trade NWC on sales Increased to support growthȶ 30-35 m p.a.ȶ 20/30 m p.aGrowth Capex Updated22%-23%20-21%Tax rate
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€ millions H1-25 H1-26 Q2-25 Q2-26 2025 FY LTM Sales 294,7 325,1 159,4 171,7 605,4 635,8 Growth % -0,6% 10,3% 3,2% 7,7% 2,8% 8,2% EBITDA adjusted 43,1 49,6 24,8 28,2 88,7 95,3 EBITDA % 14,6% 15,3% 15,6% 16,4% 14,7% 15,0% Net income adjusted 22,6 27,7 12,9 16,6 47,5 52,5 % of sales 7,7% 8,5% 8,1% 9,7% 7,8% 8,3% Net financial debt 96,4 67,7 96,4 67,7 72,7 67,7 NFD / EBITDA LTM 1,2x 0,7x 0,8x 0,7x •Total sales of products in H1-26 rose by 10.5% (+11.0% at constant FX) mainly thanks to volume(+8.7%) and prices (+1.8%) •Strong volume increase in Q1-26, volumes and prices increase in Q2-26 •Continued consolidation of operational improvements to further enhance profitability: + 80 bps in Q2-26 YoY •Leverage (NFD/EBITDA) improved to 0.7x, compared to 1.2x in H1-25 •Financial Highlights Further EBITDA and NFD improvements 4(1) Net income adjusted considers NRI, the depreciation of “purchase price allocation” (resulting from M&A transactions concluded in past years) and unrealized FX intercompany