Informazione
Regolamentata n.
0931-24-2026Data/Ora Inizio Diffusione 10 Settembre 2026 15:15:58Euronext Star Milan
Societa' :B&C SPEAKERS Utenza - referente :BCSPEAKERSN02 - Spapperi Francesco
Tipologia :1.2
Data/Ora Ricezione :10 Settembre 2026 15:15:58 Data/Ora Inizio Diffusione :10 Settembre 2026 15:15:58 Oggetto :B&C Speakers - Interim Financial Report as of
June 30th
Testo del comunicato
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Page 1 of 7
PRESS RELEASE
The Board of Directors of B&C Speakers S.p.A. approves the Interim Management Report as at 30 June 2026
SOLID PROFITABILITY AND GROWTH IN NET PROFIT IN THE FIRST HALF OF
2026. CASH GENERATION CAPACITY CONFIRMED AND IMPLEMENTATION OF
STRATEGIC GROWTH GUIDELINES CONTINUES
• Consolidated revenues: EUR 47.0 million (EUR 50.7 million in the first half of 2025);
• Consolidated EBITDA: EUR 9.1 million, with an EBITDA margin of 19.4%, at high profitability levels (EUR 10.9 million in the first half of 2025);
• Group net profit: EUR 6.2 million, up 8.2% compared to EUR 5.7 million in the first half of 2025; Cash flow generated from operating activities of EUR 4.8 million;
• Group net financial position: negative by EUR 4.7 million after the payment of dividends in the half -year of approximately EUR 7.6 million (EUR 0.2 million as at 31 December 2025);
• Group order s book: EUR 14.7 million
Bagno a Ripoli (Fi), 10 September 2026 – The Board of Directors of B&C Speakers S.p.A., an international group that designs, manufactures and markets electroacoustic transducers for professional use, has approved the Interim Management Report as at 30 June 2026, prepared in accordance with IFR S international accounting standards.
Lorenzo Coppini, CEO of B&C Speakers, commented: “ In the first half of 2026, B&C Speakers confirmed the solidity of its industrial model and its ability to maintain high levels of profitability even in a phase characterised by greater caution in demand and an international context that is still difficult to predict. The EBITDA margin remains close to 20%, while net profit is up compared to last year, also benefiting from the normalisation of financial management."
Consolidated revenues
In the first half of 2026 , consolidated revenues amounted to EUR 47.0 million, compared to EUR 50.7 million recorded in the corresponding period of 2025.
The trend is affected by the temporary slowdown in the market that occurred in conjunction with the escalation of the most recent international tensions . In this context, the Group's broad geographical diversification made it possible to mitigate the effects of the slowdown recorded in some reference markets, thanks to the significant growth achieved in several areas, including Italy, +44%, and Latin Americ a, +26%.
Europe remains the Group's leading geographical area, accounting for 50.0% of consolidated revenues, followed by North America with 18.2% and Asia -Pacific with 13.9%.
Page 2 of 7 The ability to develop business in markets with different dynamics is a structural element of the B&C Speakers model and helps to limit the Group's exposure to fluctuations in demand in individual areas.
Below is the complete breakdown by geographical area for the first six months of 2026 compared to the same period in 2025 (amounts in euros):
Cost of sales and gross margin In the first half of 2026, the cost of sales had a substantially stable impact on revenues, amounting to 62.5%, compared to 62.2% in the first half of 2025.
The gross margin therefore stands at 37.5% of revenues, substantially in line with the 37.8% recorded in the same period of the previous year, confirming a substantial resilience of the industrial margin despite the reduction in volumes.
The figure represents a positive element of the half -year and reflects the Group's ability to preserve the efficiency of its production model and to progressively adapt its operating structure to the evolution of demand.
Operating costs
The cost of indirect personnel amounted to EUR 3.7 million, substantially in line in absolute terms with the first half of 2025.
Selling expenses, amounting to EUR 0.9 million compared to EUR 0.7 million in the first half of 2025, mainly reflect business development activities and initiatives aimed at strengthening the Group's presence in international markets and supporting strateg ic growth directions.
General and administrative costs decreased slightly in absolute terms, amounting to EUR 4.1 million, confirming the Group's focus on controlling the cost structure and operational efficiency.
EBITDA and EBITDA Margin Consolidated EBITDA amounted to EUR 9.1 million, compared to EUR 11.0 million in the first half of 2025.
The EBITDA margin stands at 19.4%, confirming high levels of profitability even in the face of a temporary contraction in volumes.
The result highlights the ability of the Group's business model to preserve significant margin generation even in phases characterised by lower demand visibility.
EBIT, EBIT margin and Net Profit Depreciation and amortisation amounted to EUR 1.3 million, down from EUR 1.5 million in the first half of 2025.
Geographical Area I half 2026 % I half 2025 % Change Change % Latin America 3,923,877 8.3% 3,112,720 6.1% 811,157 26% Europe 23,510,106 50.0% 26,337,483 52.0% (2,827,377) -11% Italy 3,996,056 8.5% 2,774,622 5.5% 1,221,434 44% North America 8,562,761 18.2% 9,612,815 19.0% (1,050,055) -11% Middle East & Africa 482,000 1.0% 376,782 0.7% 105,218 28% Asia & Pacific 6,539,505 13.9% 8,446,836 16.7% (1,907,331) -23% Total 47,014,303 100.0% 50,661,257 100.0% (3,646,954) -7%
Page 3 of 7 EBIT consequently stands at EUR 7.8 million, with an EBIT margin of 16.6%.
Earnings before tax (EBT) amounted to EUR 8.3 million, up from EUR 7.9 million in the first half of 2025.
Financial management shows a significant improvement compared to the first half of the previous year, a period that had been most affected by currency exchange rate fluctuations.
The Group 's net profit therefore reached EUR 6.2 million, up 8.2% compared to EUR 5.7 million in the first half of 2025, with a ratio to revenues that increased to 13.1% from 11.3%.
Earnings per share are EUR 0.57, compared to EUR 0.52 in the corresponding period of 2025.
Cash generation and Net Financial Position During the first half of the year, the Group generated EUR 4.8 million in cash flows from operating activities, confirming its ability to convert economic results into cash and cash equivalents.
The Net Financial Position as at 30 June 2026 was negative by EUR 4.7 million, compared to EUR 0.2 million as at 31 December 2025.
The evolution of the financial position must also be read in light of the significant remuneration paid to shareholders during the period: in May, the Group paid dividends of approximately EUR 7.6 million, equal to EUR 0.70 per share.
Despite this distribution, the Group's cash and cash equivalents amounted to EUR 14.2 million, while the final net cash and cash equivalents amounted to EUR 11.8 million.
The recurring generation of cash therefore continues to represent one of the defining elements of B&C Speakers' economic and financial profile and supports the Group's ability to combine investments for development, financial strength and shareholder remun eration.
Order book
As at 30 June 2026, the Group's consolidated order book amounted to EUR 14.7 million, compared to EUR 18.6 million as at 31 December 2025.
The level of the backlog reflects both a growing tendency of customers to reduce the time horizon of orders, in a context of lower visibility, and signs of a temporary slowdown in demand.
30 june 31 december (values in Euro thousands) 2026 (a) 2025 (a) Change A. Cash 14,245 13,969 2% C. Other current financial assets 6,384 7,549 -15% D. Cash and cash equivalent (A+C) 20,630 21,518 -4% E. Current financial indebtness (2,491) (2,467) F. Current portion of non current borrowings (6,694) (6,101) 10% G. Current borrowingse (E+F) (9,185) (8,568) 7% H. Current net financial indebtness (G+D) 11,445 12,949 -12% I. Non current financial indebtness (16,178) (13,166) 23% L. Non current financial indebtness (16,178) (13,166) 23% M. Total financial indebteness (H+L) (4,733) (217) 2083%
Page 4 of 7
Below is the reclassified Group Income Statement for the first half of 2026 compared with the same period of the previous year:
Significant subsequent to 30 June 2026 and outlook for the year
The market environment remains affected by geopolitical tensions and uncertainty related to international trade policies, which continue to limit short -term visibility and encourage a cautious approach by customers. However, indications from the market sug gest that this increased caution is temporary.
In this scenario, B&C Speakers continues to manage the business with high industrial flexibility, operational discipline and cost control, while maintaining its medium - to long -term growth priorities unchanged.
The Group is also continuing to invest in strengthening its international commercial presence, developing its proprietary distribution platform and expanding its product range, leveraging its manufacturing and commercial presence in the main global markets and its diversified brand portfolio. Finally, the focus remains on maintaining high levels of profitability and financial efficiency.
Economic trends - Group B&C Speakers (€ thousands) I half 2026 Incidence I half 2025 Incidence Revenues 47,014 100.0% 50,661 100.0% Cost of sales (29,390) -62.5% (31,491) -62.2% Gross margin 17,624 37.5% 19,170 37.8% Other revenues 168 0.4% 233 0.5% Cost of indirect labour (3,653) -7.8% (3,578) -7.1% Commercial expenses (890) -1.9% (686) -1.4% General and administrative expenses (4,130) -8.8% (4,184) -8.3% Ebitda 9,118 19.4% 10,955 21.6% Depreciation and Amortization (1,314) -2.8% (1,456) -2.9% Writedowns (10) 0.0% (13) 0.0% Earning before interest and taxes (Ebit) 7,794 16.6% 9,487 18.7% Financial costs (512) -1.1% (2,320) -4.6% Financial income 968 2.1% 747 1.5% Earning before taxes (Ebt) 8,250 17.5% 7,914 15.6% Income taxes (2,076) -4.4% (2,209) -4.4% Profit for the year 6,174 13.1% 5,704 11.3% Minority interest 0 0.0% 0 0.0% Group Net Result 6,174 13.1% 5,704 11.3% Other comprehensive result 287 0.6% (553) -1.1% Total Comprehensive result 6,461 13.7% 5,151 10.2%
Page 5 of 7 Consolidated Statement of Financial Position and Consolidated Statement of Comprehensive Income for the first half of 2026
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(Values in Euro)30 June
202531 December
2025
ASSETS
Fixed assets
Tangible assets 6,322,498 5,895,116 Right of use 4,442,009 5,047,150 Goodwill 2,318,181 2,318,181 Other intangible assets 638,774 676,644 Deferred tax assets 1,254,594 1,171,212 Other non current assets 672,335 667,296 related parties 6,700 6,700 Total non current assets 15,648,391 15,775,599
Currents assets
Inventory 32,114,594 29,348,581 Trade receivables 20,056,807 20,401,887 Tax assets 1,538,173 1,166,975 Other current assets 9,342,657 10,676,571 Cash and cash equivalents 14,245,275 13,967,993 Total current assets 77,297,506 75,562,007 Total assets 92,945,897 91,337,606
LIABILITIES
Equity
Share capital 1,089,314 1,093,817 Other reserves 5,971,838 4,587,594 Foreign exchange reserve 487,390 196,071 Retained earnings 45,108,470 48,529,581 Total equity attributable to shareholders of the parent 52,657,012 54,407,064 Minority interest - -
Total equity 52,657,012 54,407,064 Non current liabilities Long-term borrowings 12,866,972 9,276,975 Long-term lease liabilities 3,310,655 3,889,224 related parties 642,390 1,088,005 Severance Indemnities 940,986 910,797 Provisions for risk and charges 44,152 44,152 Total non current liabilities 17,162,765 14,121,148
Current liabilities
Short-term borrowings 7,712,388 7,102,304 Short-term lease liabilities 1,472,198 1,465,785 related parties 950,510 983,899 Trade liabilities 9,739,496 10,472,853 related parties 88,719 89,682 Tax liabilities 204,009 15,261 Other current liabilities 3,998,029 3,753,192 Total current liabilities 23,126,120 22,809,395 Total Liabilities 92,945,896 91,337,607
Page 6 of 7
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(Values in Euro)I half 2026 I half 2025 Revenues 47,014,303 50,661,257 Cost of sales (29,390,153) (31,491,486) Other revenues 167,512 232,855 Cost of indirect labour (3,653,472) (3,577,694) Commercial expenses (889,681) (685,639) General and administrative expenses (4,130,276) (4,184,195) Depreciation and amortization (1,313,917) (1,455,500) Writedowns (10,286) (12,723) Earning before interest and taxes 7,794,030 9,486,875 Writedown of investments in non controlled associates - -
Financial costs (511,693) (2,320,279) related parties (21,035) (30,908) Financial income 968,000 747,005 Earning before taxes 8,250,337 7,913,600 Income taxes (2,075,992) (2,209,477) Profit for the year (A) 6,174,345 5,704,123 Other comprehensive income/(losses) for the year that will not be reclassified in icome
statement:
Actuarial gain/(losses) on DBO (net of tax) (4,238) 6,069 Other comprehensive income/(losses) for the year that will be reclassified in icome
statement:
Exchange differences on translating foreign operations 291,318 (559,168) Total other comprehensive income/(losses) for the year (B) 287,081 (553,100) Total comprehensive income (A) + (B) 6,461,426 5,151,024 Profit attributable to:
Owners of the parent 6,174,345 5,704,123 Minority interest - -
Total comprehensive income atributable to:
Owners of the parent 6,461,426 5,151,024 Minority interest - -
Basic earning per share 0.57 0.52 Diluted earning per share 0.57 0.52
1H 2026 1H 2025
A- Net current bank balances at the beginning of the period 11,501 6,719 B- Cash flow from operating activities 4,766 6,596 C- Cash flow from investing activities 330 (1,154) D- Cash flow from financing activities (4,842) (2,836) E- Cash flow for the period (B+C+D) 254 2,606 F- Cash and cash equivalents at end of the period 11,755 9,325Consolidated cash flows (Values in Euro thousands)
Page 7 of 7
The conference call with the market to present the consolidated results as at 3 0 June 2026 will be held on 1 0 September at 4:00 pm CET.
The link to connect is: bit.ly/4wjDyFr
*** This press release was published today on the Company's website www.bcspeakers.com/en/investor -center/financial -press , as well as on the authorised storage mechanism "eMarket STORAGE" , which can be consulted at www.emarketstorage.it
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The Manager in charge of preparing the corporate accounting documents of B&C Speakers S.p.A., Francesco Spapperi, certifies – pursuant to Article 154 -bis, paragraph 2 of Italian Legislative Decree 58/1998 – that the accounting information contained in this press release corresponds to the documents, books and accounting records.
B&C Speakers S.p.A. is an international industrial group active in the design, production and marketing of professional elect roacoustic transducers, key components of sound diffusion systems intended mainly for professional audio manufacturers worldwide. T he Group operates through an integrated model that oversees the entire value chain — from research and development to design, from production to quality control — at the production sites in Florence (Italy), Reggio Emilia (Italy), Eminence (Kentucky, USA) and DongGuan (China).
B&C Speakers employs approximately 353 people, of whom about 10% are dedicated to Research & Development activities, confirmi ng the strong focus on technological innovation and the development of high -performance solutions. The Group's products a re marketed through the B&C, 18SOUND, EMINENCE and CIARE brands, which are internationally recognised in the professional audio sector. A significant share of production is also carried out in co -design with customers, developing customised solutions based on specific dedicated applications. The Group also has a commercial presence in the United States and Brazil through subsidiaries dedicat ed to distribution and business development in their respective target markets.
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CONTACTS:
B&C Speakers S.p.A. My Twin Communication IR & Media Advisor Lorenzo Coppini Federico Bagatella || Elena Filippi CEO and Investor Relations Officer Tel: +39 055 65721 Tel: +39 331 80072258|| +39 366 6595978 e: investors@bcspeakers.com e: bcspeakers@mytwincommunication.com
Fine Comunicato n.0931-24-2026 Numero di Pagine: 9