Page 1 of 13 Franchetti S.p.A.: Board of Directors approves the Half -Year Financial Report as of June 30, 2026 Revenues of EUR 12.7 million, more than 5 times the first half of 2025; Value of Production of EUR 14.5 million (+155%) EBITDA of EUR 3.8 million (+112%), EBIT of EUR 3.0 million (+196%) and Net Income of EUR 1.6 million (+368%) Sharp improvement in the collection cycle: DSO on revenues at approximately 176 days, down from approximately 516 days in the first half of 2025 Operational growth, significant evolution of the Value of Production mix and consolidated backlog of approximately EUR 104 million
Key consolidated results as of June 30, 20261:
• Revenues from sales: EUR 12.7 million, more than 5 times H1 2025 (EUR 2.4 million);
• Value of Production: EUR 14.5 million, +155% (H1 2025: EUR 5.7 million), with a strong rebalancing of the mix in favor of revenues;
• EBITDA: EUR 3.8 million, +112% (H1 2025: EUR 1.8 million), with an EBITDA margin of 26% on Value of Production;
• EBIT: EUR 3.0 million, +196% (H1 2025: EUR 1.0 million);
• Net income: EUR 1.6 million, +368% (H1 2025: EUR 0.3 million);
• Net financial debt: EUR 8.4 million (EUR 2.1 million as of December 31, 2025), with an NFD/EBITDA ratio of approximately 1.1x on an annualized basis;
• Shareholders’ equity: EUR 25.5 million (EUR 22.0 million as of December 31, 2025);
• Order backlog: approximately EUR 104 million, supporting visibility on future revenues.
1 Please note that the acquisition of ECR contributed to the consolidated results as of June 30, 2026 for the entire half -year
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Arzignano (VI), September 30, 2026 – The Board of Directors of Franchetti S.p.A. (Ticker BIT: FCH), a multinational company specializing in advanced diagnostics and predictive maintenance solutions for infrastructure, met today and approved the Consolidated Half -
Year Financial Report as of June 30, 2026, prepared in accordance with It alian accounting standards and voluntarily subject to a limited review.
Paolo Franchetti , Chairman and CEO of Franchetti S.p.A., commented : “The first half of 2026 marks a genuine step change in the Group’s scale , with revenues more than five times the level of the first half of 2025 and strong growth in Value of Production. This is accompanied by a significant transformation of the revenue mix, together with a significant reduction in DSO , thanks both to the entry of ECR into the scope of consolidation and to improved invoicing and collection processes in Italy, particularly with the Public Administration. EBITDA more than doubled and margins remain at high levels, while the commercial, in dustrial and technological synergies already identified and set up are now ready to be progressively reflected in our results. On the financial side, too, we are keeping our financial leverage under control despite the acquisition of ECR, at approximately 1.1x annualized EBITDA . Finally, our consolidated backlog of approximately EUR 104 million , together with greater geographic and customer diversification, further strengthens the foundations for the execution of the 2026 -2028 Business Plan. ”
Key Consolidated Results as of June 30, 2026
Income Statement
In the first half of 2026, Value of Production amounted to EUR 14.5 million, up 154.5% from EUR 5.7 million as of June 30, 2025. This trend highlights a significant step change in the Group’s scale, driven by improved conversion of activities into revenues and an improved invoicing process in Italy, a s well as by the contribution of the ECR Group, which entered the scope of consolidation following the closing completed on April 30, 2026.
Growth was accompanied by a radical shift in the Value of Production mix : Revenues reached EUR 12.7 million, accounting for approximately 88% of Value of Production, compared with approximately 43% in the first half of 2025. At the same time, the Change in work in progress decreased to EUR 1.7 million from EUR 3.1 million ( -46.9%). This rebalancing reflects, in addition to ECR’s contribution, the improvement in the invoicing process towards the Italian Public Administration, with a greater conversion of completed activities into invoiced revenues.
Page 3 of 13 Growth also confirms the Group’s greater geographic diversification, with a significant contribution from both its Italian operations and Brazil, further strengthened by the entry of ECR and the new contracts secured in the Brazilian market.
• In Italy, improved conversion of activities into revenues is significantly improving working capital.
• In Brazil, ECR significantly expands the Group’s operating scale and positioning in infrastructure engineering services.
EBITDA amounted to EUR 3.8 million, up 112.1% from EUR 1.8 million in the first half of 2025.
The EBITDA margin was approximately 26% of Value of Production, remaining at high levels during a phase of strong expansion in size and integration of the new perimeter .
Margins reflect a natural consolidation phase, while the commercial, industrial and technological synergies among the Group’s various components have yet to express their full potential.
Depreciation and amortization remained substantially stable at approximately EUR 0.8 million. The stability of D&A, against a significant increase in operating scale, results in a lower relative impact of past investments on operating income.
EBIT reached approximately EUR 3.0 million, almost tripling from EUR 1.0 million in the first half of 2025 (+196.1%). This improvement reflects the substantial stability of depreciation and amortization despite the significant increase in operating scale.
Net income was positive at EUR 1.6 million, compared with EUR 0.3 million in the first half of 2025, an approximately five -fold increase. This performance confirms the Group’s greater ability to translate operational growth into results for shareholders.
Balance Sheet
Intangible assets amounted to EUR 14.5 million, compared with EUR 8.8 million as of December 31, 2025, mainly due to the consolidation of the new perimeter and investments in technological development. Financial fixed assets amounted to EUR 2.2 million, substantially in line with EUR 2.1 million as of December 31, 2025. Goodwill also increased in connection with the acquisition of the ECR Group.
Net Working Capital at the end of June 2026 amounted to EUR 16.7 million, compared with EUR 13.0 million as of December 31, 2025. The increase also reflects the inclusion of the ECR Group’s working capital within the perimeter. At the same time, improved invoicing and custom er diversification are producing a significant benefit on the cash conversion cycle.
Page 4 of 13 In particular, DSO calculated on revenues fell to approximately 176 days from approximately 516 days in the first half of 2025, more than halving. Considering DSO on Value of Production as well, the trend remains favorable, with a reduction to approximately 154 days from approximately 221 days. T his figure shows the first tangible effects of the progressive customer diversification and of improved invoicing and collection processes.
Net Invested Capital amounted to EUR 33.9 million, compared with EUR 24.2 million as of December 31, 2025.
Net financial debt amounted to EUR 8.4 million, compared with EUR 2.1 million as of December 31, 2025. The increase is mainly related to the acquisition of the ECR Group, financed to a significant extent through debt. Despite the transaction, financial leverage remains cont ained: the NFD/EBITDA ratio stands at approximately 1.1x on an annualized basis , reflecting a sustainable financial structure consistent with the Group’s growth path.
Free cash flow for the half -year was affected by cash absorption related to investments and to the inclusion of ECR’s entire working capital in the consolidated accounts. Net of capex and the effect of the first -time consolidation of the acquired company’s working capit al, operating cash generation would have been substantially balanced.
Shareholders’ Equity reached EUR 25.5 million, compared with EUR 22.0 million as of December 31, 2025.
Significant events during the period • On January 14, 2026, Franchetti announced the appointment of Ashley Langford as Country Manager for business development in Canada and the United States.
With an established background in the infrastructure sector, Langford brings to Franchetti solid experience gained in the technology and industrial fields.
Langford’s arrival str engthens the team and represents a concrete step towards building a direct managerial presence for the Group in Canada and the United States. This is consistent with the international structuring path undertaken by Franchetti and with its aim of establishi ng a stable and qualified presence in a market that is strategic for future development.
• On February 23, Franchetti appointed Jacopo Nembro as Head of Finance to work in coordination with the CFO and help consolidate its planning, control and financial management processes.
• On March 4, 2026, Franchetti S.p.A. announced that it had signed, through a newly established Brazilian subsidiary, a binding agreement for the acquisition of 55% of
Page 5 of 13 the share capital of ECR Engenharia Ltda. and ECR Tecnologia e Engenharia Ltda ., Brazilian companies active in infrastructure engineering services. The transaction aims to strengthen the Group’s presence in Latin America and expand its operating scale.
• On April 30, 2026, Franchetti S.p.A. announced the completion of the closing of the acquisition of 55% of the ECR Group , with the resulting inclusion of the acquired companies in the Group’s scope of consolidation. At the same time, the Board of Directors approved the 2026 -2028 Consolidated Business Plan, which targets a Value of Production CAGR of approximately 40%, an EB ITDA CAGR above 40% and a Net Financial Debt/EBITDA ratio of approximately 1.5x at the end of the Plan period.
• On June 25, 2026, Franchetti S.p.A. announced that it had appointed Banca Akros S.p.A. – Banco BPM Group as Euronext Growth Advisor , effective September 27, 2026, replacing Integrae SIM S.p.A., as part of the evolution and strengthening of its presence on the capital markets.
Significant events after the end of the period • On July 1, 2026 , the Extraordinary Shareholders’ Meeting resolved to grant the Board of Directors the authority, pursuant to Article 2443 of the Italian Civil Code, to increase the share capital, in one or more tranches, up to a maximum total amount of EUR 10 million , by July 1, 2029. The purpose of the authority is to provide the Company with a financial flexibility tool to support the Group’s growth path, including through the assessment of possible external growth transactions, consistent with its strategy of stren gthening its competitive positioning.
• On July 6, 2026 , Franchetti S.p.A. announced that the ECR Group had strengthened its order backlog in Brazil by securing new contracts in the road infrastructure sector, including participation in the project to build the new link between Avenida Jornalista Roberto Marinho and Rodovia dos Imigrantes in the city of São Paulo. The new contracts helped bring the Gr oup’s consolidated backlog above EUR 100 million, strengthening visibility on future revenues and confirming the strategic role of the Brazilian market in its international growth path.
• On August 5, 2026 , the Group announced that its subsidiary Matildi+Partners is engaged in the design of structural upgrading works for the seismic retrofitting of four pairs of viaducts on the A24 and A25 motorways , as part of the program promoted by the Extraordinary Commissioner for the safety upgrade of the A24 -
A25 motorway system. The total value of the works covered by the design is over
Page 6 of 13 EUR 150 million, while the value of the assignment awarded to the Temporary Grouping of Designers amounts to over EUR 11 million, of which Matildi+Partners holds a 30% share. The assignment contributes to strengthening the Group’s order backlog and its pos itioning in the design of major national strategic infrastructure.
• On August 6, 2026, Franchetti S.p.A. announced that it had appointed Banco BPM S.p.A. as Specialist Operator , effective September 27, 2026, replacing Integrae SIM S.p.A., as part of the evolution and strengthening of its presence on the capital markets.
• On September 2, 2026 , Franchetti S.p.A. announced that the Group’s railway division in Brazil had become fully operational , operating through Franchetti & Merola and ECR. The division has signed five contracts with four of the country’s leading railway groups, including Vale, Brazil’s largest freight rail operator. The new contracts are worth a total of over EUR 1 million: th ree are multi -year framework agreements and two are projects already completed. They cover integrated surveying, inspection and design services for railway infrastructure, carried out with LiDAR, laser scanner and drone technologies, the Group’s proprietar y platforms (Strucinspect, SideCheck and Argan) and BIM methodology. The contracts broaden the Group’s diversification in Brazil and extend the presence already built in road infrastructure into the railway sector.
• On September 24, 2026, Franchetti S.p.A. announced that Banca Akros had issued to Borsa Italiana the declaration required under Article 17 of the Euronext Growth Advisor Rules , thereby making its appointment as the new Euronext Growth Advisor effective.
Business outlook
In light of the first -half results, the information currently available and the size of the order backlog, the Group expects positive operating performance for fiscal year 2026, in line with the targets of the 2026 -2028 Consolidated Business Plan. Over the coming months, management will focus on integrating the ECR Group, progressively realizing commercial, industrial and technological synergies and executing the aggregate backlog of approximately EUR 104 million. Investments in the proprietary technology s uite will also continue, as will scouting for possible external growth opportunities, with priority given to North America and Europe and to specialist technologies and expertise complementary to those already in place.
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Documentation
The documentation relating to the half -year report as of June 30, 2026 required under applicable regulations will be made available to the public at the Issuer’s registered office, as well as through publication on the Company’s website www.franchetti.tech , section “Investor Relations/Bilanci e Relazioni periodiche”, within the legal deadlines, and on www.borsaitaliana.it , section Azioni/Documenti, and on www.1info.it .
*** Franchetti S.p.A.
Franchetti is an international group specializing in advanced diagnostics, engineering and predictive management of infrastructure. Founded in 2013 in Arzignano (VI), the Group combines specialist engineering expertise with proprietary technologies to supp ort infrastructure concessionaires, operators and owners in understanding, assessing and managing their assets over time.
Its activities include inspection and diagnostics, structural assessment, design of interventions, digitalization and BIM, as well as technology solutions for predictive maintenance planning. Franchetti operates internationally across the main transport in frastructure sectors and has gained experience on more than 50,000 equivalent motorway and railway bridges.
In this context, Franchetti has developed “ kTema ”, a proprietary suite that integrates advanced technologies, artificial intelligence and data analytics to support the management of the entire infrastructure life cycle. The platform makes it possible to organize and interpret data from inspection activi ties, support the assessment of asset conditions, plan interventions and optimize maintenance and worksite activities.
Contacts
Issuer Investor & Media Relations Advisor Franchetti S.p.A. My Twin Communication S.r.l.
ir@franchetti.tech
Tel. +39 0444671443 franchetti@mytwincommunication.com IR: Federico Bagatella | +39 331 8007258 PR: Marcello Mazzucchi | +39 338 2285823
Euronext Growth Advisor Banca Akros – Banco BPM Group Viale Eginardo, 29 - 20149 Milan (MI)
Nicola Vulcano
Tel. +390243444290 Mobile +393452690272
nicola.vulcano@bancaakros.it
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ANNEXES
Consolidated Income Statement Amounts in euro
Consolidated Income Statement ( €) 06/30/2026 06/30/2025 Change % Chg Revenues 12,755,260 2,568,524 10,186,736 397% Change in inventories 1,669,471 3,146,003 -1,476,532 -47% Increase in fixed assets for internal work 120,000 0 120,000 100%
VALUE OF PRODUCTION 14,544,731 5,714,527 8,830,204 155%
Raw materials and consumables -61,441 -57,066 -4,375 8% Services -8,404,909 -2,647,184 -5,757,725 218% Use of third -party assets -389,224 -235,737 -153,487 65% Personnel costs -1,579,243 -895,589 -683,654 76% Other operating expenses -343,279 -102,953 -240,326 233%
EBITDA 3,766,635 1,775,999 1,990,636 112%
EBITDA Margin 26% 31% -5 p.p. -17% Amortization of intangible assets -737,124 -730,567 -6,557 1% Depreciation of tangible assets -52,951 -39,915 -13,036 33% Write -downs -9,989 -3,736 -6,253 167%
EBIT 2,966,572 1,001,781 1,964,791 196%
EBIT Margin 20% 18% 3 p.p. 16% Financial income 30,762 50,415 -19,654 -39% Financial charges and value adjustments to financial assets -813,400 -113,156 -700,244 619%
PROFIT BEFORE TAX 2,183,933 939,040 1,244,893 133%
Income taxes -593,098 -343,669 -249,429 73%
NET PROFIT 1,590,835 595,370 995,465 167%
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Consolidated Balance Sheet Amounts in euro
Consolidated Balance Sheet (€) 06/30/ 2026 12/31/2025 Change % Chg Inventories 11,006,366 9,180,982 1,825,384 20% Trade receivables 12,389,224 9,303,040 3,086,184 33% Trade payables -4,181,767 -3,440,278 -741,489 22% Trade Working Capital 19,213,822 15,043,744 4,170,078 28% Other assets 6,062,350 2,606,938 3,455,412 133% Other liabilities -8,591,971 -4,669,857 -3,922,114 84% Net Working Capital 16,684,201 12,980,824 3,703,377 29% Intangible assets 14,549,284 8,786,207 5,763,077 66% Tangible assets 621,541 428,188 193,353 45% Financial fixed assets 2,217,504 2,114,207 103,297 5% Gross Invested Capital 34,072,529 24,309,426 9,763,103 40% Employee severance indemnity (TFR) -191,099 -156,836 -34,263 22% Provisions 0 0 0 0% Net Invested Capital 33,881,430 24,152,590 9,728,840 40% Short -term bank debt 6,644,612 6,526,380 118,232 2% Medium/long -term bank debt 5,316,644 2,480,652 2,835,992 114% Financial debt 11,961,256 9,007,032 2,954,224 33% Cash and cash equivalents -3,589,432 -6,883,586 3,294,154 -48% Other financial assets 0 0 0 0% Net financial debt 8,371,824 2,123,446 6,248,378 294% Share capital 1,595,541 487,102 1,108,439 228% Reserves 22,323,230 20,686,582 1,636,648 8% Net income for the period 1,590,835 855,460 735,375 86% Total shareholders’ equity 25,509,606 22,029,144 3,480,462 16% Total sources 33,881,430 24,152,590 9,728,840 40%
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Consolidated Net Financial Debt (statement prepared in accordance with ESMA Guidelines) Amounts in euro
Consolidated net financial debt € 06/30/2026 12/31/2025 Change % Chg A) Cash 3,589,432 6,883,586 -3,294,154 -48% B) Cash equivalents 0 0 0 0 C) Other current financial assets 0 0 0 0 C’) Other short -term assets 0 0 0 0 D) Liquidity (A+B+C) 3,589,432 6,883,586 -3,294,154 -48% E) Current financial debt 6,644,612 6,526,380 118,232 2% F) Current portion of non -current financial debt 0 0 0 0 F’) Other short -term liabilities 0 0 0 0 G) Current financial indebtedness (E+F) 6,644,612 6,526,380 118,232 2% H) Net current financial indebtedness (G -D) 3,055,180 -357,206 3,412,386 -955% I) Non -current financial debt 5,316,644 2,480,652 2,835,992 114% J) Debt instruments 0 0 0 0 K) Non -current trade and other payables 0 0 0 0 L) Non -current financial indebtedness (I+J+K) 5,316,644 2,480,652 2,835,992 114%
M) TOTAL FINANCIAL INDEBTEDNESS (H+L) 8,371,824 2,123,446 6,248,378 294%
N) Financial receivables due beyond 12 months -103,172 -240,202 137,030 -57% O) Overdue tax payables 1,447,277 1,266,316 180,961 14%
TOTAL ADJUSTED NET FINANCIAL DEBT (M+N+O) 9,715,929 3,149,560 6,566,369 208%
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Cash flow statement, indirect method
Cash flow statement, indirect method Current Year Prior Year
A. CASH FLOWS FROM OPERATING ACTIVITIES
(INDIRECT METHOD)
Net income (loss) for the year 1,590,835 595,370 Income taxes 593,098 343,669 Interest expense/(income) 433,976 62,725 (Dividends) 0 0 (Gains)/Losses on disposal of assets 0 0 1. Net income/(loss) for the year before income taxes, interest, dividends and gains/losses on disposals 2,617,909 1,001,764 Adjustments for non -cash items with no balancing entry in net working capital Provisions to funds 0 0 Depreciation and amortization of fixed assets 790,074 770,482 Impairment losses 0 0 Value adjustments to financial assets and liabilities of derivative financial instruments not involving cash movements 0 0 Other upward/(downward) adjustments for non -
cash items 384,046 3,736 Total adjustments for non -cash items with no balancing entry in net working capital 1,174,120 774,218 2. Cash flow before changes in net working capital 3,792,029 1,775,982 Changes in net working capital Decrease/(Increase) in inventories (1,825,384) (5,009,880) Decrease/(Increase) in trade receivables (3,096,173) (1,798,916) Increase/(Decrease) in trade payables 741,489 1,500,870 Decrease/(Increase) in accrued income and prepaid expenses 59,854 (78,153) Increase/(Decrease) in accrued expenses and deferred income (117,415) (196,090) Other decreases/(Other increases) in net working capital (68,830) (333,224) Total changes in net working capital (4,306,459) (5,915,393) 3. Cash flow after changes in net working capital (514,430) (4,139,411)
Other adjustments
Interest received/(paid) (433,976) (62,725) (Income taxes paid) 0 0
Page 12 of 13 Dividends received 0 0 (Use of provisions) 34,263 (4,159) Other receipts/(payments) 0 0 Total other adjustments (399,713) (66,884) Cash flow from operating activities (A) (914,143) (4,206,295)
B. CASH FLOWS FROM INVESTING ACTIVITIES
Tangible assets
(Investments) (246,304) (221,359) Disposals 0 0
Intangible assets
(Investments) (6,500,200) (3,503,795) Disposals 0 0 Financial fixed assets (Investments) (477,354) (1,880,079) Disposals 0 0 Non -current financial assets not held as fixed
assets
(Investments) 0 0 Disposals 0 0 (Acquisition of business units net of cash and cash equivalents) 0 0 Disposal of business units net of cash and cash equivalents 0 0 Cash flow from investing activities (B) (7,223,858) (5,605,233)
C. CASH FLOWS FROM FINANCING ACTIVITIES
Third -party funds Increase/(Decrease) in short -term bank debt 118,232 1,526,697 New loans 2,835,992 2,378,379 (Loan repayments) 0 0
Own funds
Paid -in capital increase 1,889,624 5,770,919 (Capital repayment) 0 0 Sale (Purchase) of treasury shares 0 0 (Dividends and interim dividends paid) 0 0 Cash flow from financing activities (C) 4,843,848 9,675,995 Increase (decrease) in cash and cash equivalents (A ± B ± C) (3,294,153) (135,533) Effect of exchange rates on cash and cash equivalents 0 0 Cash and cash equivalents at beginning of year Bank and postal deposits 6,881,063 6,157,645 Checks 0 0
Page 13 of 13 Cash on hand 2,522 6,012 Total cash and cash equivalents at beginning of year 6,883,585 6,163,657 Of which not freely available 0 0 Cash and cash equivalents at end of year Bank and postal deposits 3,585,140 6,881,063 Checks 0 0 Cash on hand 4,292 2,522 Total cash and cash equivalents at end of year 3,589,432 6,883,585 Of which not freely available 0 0