Informazione
Regolamentata n.
0921-81-2026Data/Ora Inizio Diffusione 8 Settembre 2026 15:21:17Euronext Star Milan
Societa' :MOLTIPLY GROUP
Utenza - referente :MUTUIONLINEN01 - Pescarmona Marco
Tipologia :1.2
Data/Ora Ricezione :8 Settembre 2026 15:21:17 Data/Ora Inizio Diffusione :8 Settembre 2026 15:21:17 Oggetto :First half 2026 consolidated financial report:
Solid year-on-year growth Testo del comunicato
Vedi allegato
Moltiply Group S.p.A. , ovvero, in breve, MOL Group S.p.A. o anche Gruppo MOL S.p.A.
Sede Legale: Via F. Casati, 1/A - 20124 Milano • Sede Amministrativa: Via Desenzano, 2 - 20146 Mila no Tel +39.02.8344.1 • PEC gruppomutuionline@legalmail.it • Web www.moltiplygroup.com C.F. e P.IVA 05072190969 • REA 1794425 • Registro imprese di Milano 05072190969 Cap. Soc. 1.012.834,01 Euro I.V.
Milan, 8 September 2026
MOLTIPLY GROUP S. P.A.
FIRST HALF 2026 CONSOLIDATED FINANCIAL REPORT :
SOLID YEAR -ON -YEAR GROWTH
Consolidated - Euro '000 1H2026 1H2025 Change % Revenues 343,075 301,692 +13.7%
EBITDA 93,366 77,279 +20.8%
Operating income 55,940 48,768 +14.7% Net income 37,075 21,944 +69.0% The board of directors of Moltiply Group S.p.A. app roved today the consolidated half-year financial report for the six months ended June 30, 2026. This document is still subject to limited auditing by Deloitte & Touche S.p.A..
Revenues for the six months ended June 30, 2026, ar e Euro 343.1 million, up 13.7% compared to the same period of the previous financial year. Suc h increase is attributable to the growth of the Mavriq Division, whose revenues are up 31.7%, incre asing from Euro 165.0 million in the first half 2025 to Euro 217.4 million in the first half 2026. The revenues of the Moltiply BPO&Tech Division instead decrease by 8.0%, passing from Euro 136.7 m illion in the first half 2025 to Euro 125.7 million in the first half 2026 (net of costs for no tarial services, revenues are however up by 3.7% ye ar on year).
EBITDA increases by 20.8% in the six months ended J une 30, 2026, compared to the same period of the previous financial year, passing from Euro 7 7.3 million in the first half 2025 to Euro 93.4 million in the first half 2026. Such result is attr ibutable both to the growth of the EBITDA of the Mavriq Division, which reports an increase of 26.7% , passing from Euro 48.0 million in the first half 2025 to Euro 60.9 million in the first half 2026, a nd to the growth of the EBITDA of the Moltiply BPO&Tech Division, which increases by 11.1%, passin g from Euro 29.3 million in the first half 2025 to Euro 32.5 million in the first half 2026.
Operating income increases by 14.7% in the six mont hs ended June 30, 2026, compared to the same period of the previous financial year, passing from Euro 48.8 million in the first half 2025 to Euro 55.9 million in the first half 2026. Such increase is attributable both to the operating income of the Mavriq Division, increasing by 11.4%, passing from Euro 33.3 million in the first half 2025 to Euro 37.1 million in the first half 2026, and to the ope rating income of the Moltiply BPO&Tech Division, increasing by 21.9%, passing from Euro 15.4 million in the first half 2025 to Euro 18.8 million in the first half 2026. The operating income incorporates the depreciation of intangible assets arising from purchase price allocations for Euro 20.8 million (o f which Euro 14.8 million for the Mavriq Division and Euro 6.0 million for the Moltiply BPO&Tech Divi sion) in the six months ended June 30, 2026, compared to Euro 17.3 million in the same period of the previous year.
Net income increases by 69.0% in the six months end ed June 30, 2026, compared to the same period of the previous financial year, increasing f rom Euro 21.9 million in the first half 2025 to Eur o 37.1 million in the first half 2026.
Moltiply Group S.p.A.
2 The net financial position of the Group is negative for Euro 453.4 million, compared to a negative cash balance of Euro 440.8 million as of December 3 1, 2025. Such trend is attributable to the purchase of own shares for Euro 34.8 million, the p urchase of MONY shares for Euro 23.9 million, the payment of consideration for the acquisitions f or Euro 10.3 million, and to the cost of financing for Euro 11.9 million, and it is partially offset b y the cash generated by the operating activity.
Mavriq (Broking) Division: report on operations and foreseeable evolution The second quarter of 2026 was characterized, as fo reseeable due to the evolution of the underlying energy and credit markets, by a year-on-year contra ction in Mavriq Energy & Telco and Mavriq Banking, while the Mavriq Insurance business line g rew and Mavriq Shopping remained substantially stable.
In the third quarter, Mavriq Energy & Telco is expe cted to show improved year-on-year performance compared with the previous quarter, des pite the ongoing uncertainty related to the current volatility in energy markets. The contracti on in Mavriq Banking also appears to be easing, due to a more favourable year-on-year comparison. R egarding Mavriq Insurance and Mavriq Shopping, the year-on-year performance is expected to be comparable with that of the previous quarter.
Mavriq’s management stays focused on implementing i ntegration, growth and business improvement initiatives, which offer significant po tential for organic growth.
Finally, the European Commission’s decision to fine Google for violating the self-favouring prohibition established by the Digital Markets Act 1 has the potential to improve the prospects of Mavriq Shopping, depending on whether the remedial actions implemented by Google are effectively compliant with the law. We recommend re ading the non-confidential version of such decision 2.
Moltiply BPO&Tech (BPO) Division: report on operati ons and foreseeable evolution In the first half of 2026, the Division achieved a double-digit growth in EBITDA, with an EBITDA margin increasing from 21.4% to 25.9% and an accele ration in the second quarter. Revenues decreased by 8.0%, entirely attributable to the hig her-than-expected contraction in para-notarial services related to mortgage substitutions, a low-m argin activity in which notarial costs are essentia lly passed through and recognized in revenues. Excludin g these components, revenues increased by 3.7%. The expansion in margins reflects a more favo urable service mix, targeted efficiency initiatives , and the progressive implementation of productivity improvements.
For the second half of the year, it is reasonable t o expect the continued growth in EBITDA at a pace broadly in line with that achieved in the firs t half of the year, excluding the impact of non-
recurring items and taking into account the usual s easonal factors.
1 Press release: https://digital-markets-act.ec.euro pa.eu/commission-fines-google-eur890-million-breach es-
digital-markets-act-2026-07-23_en
2 Available on: https://digital-markets-act-cases.e c.europa.eu/cases/DMA.100193
Moltiply Group S.p.A.
3
Moltiply Banking
The decline in revenues was driven by a sharper-tha n-expected contraction in activities related to subrogation; excluding pass-through notarial costs, revenues of the business line increased. In Mortgage services, the expansion of the customer ba se and the growth in loan application processing volumes continued, with one of the main customers p rogressively increasing the share of new mortgages outsourced to the Division. Loan Services recorded significant growth in both quarters, driven by the processing of salary-backed loan appl ications, the managed portfolio and anti-fraud services. Wealth Services confirmed double-digit gr owth, supported by technology projects with the main customer. Property valuations increased slight ly, while demand for cadastral services remained weak; however cost-rationalization measures impleme nted by management had a positive effect on margins.
Moltiply Lease
The business line confirms a significant and stable contribution, with revenues and margins growing, supported by Agenzia Italia S.p.A., which continues to be a key driver of the Division’s revenues and profitability, as well as by the expansion of long- term rental services. The regulatory changes concerning vehicle stamp duty, effective starting f rom January 2026, were managed without any operational disruptions; sustained levels are expec ted in the second half of the year, also supported by the introduction of new services.
Moltiply Insurance
The volumes remained strong, although lower than in the first half of 2025, with the second quarter showing a more pronounced decline due to the lower claims frequency during the period. However, the latter part of the semester and the months of J uly and August recorded an increase in claims openings related to weather events, suggesting an i mprovement in the second half of the year. The roll-out of the new IT platform to support claims a djusters’ productivity is ongoing, while the full effectiveness of the mandatory insurance requiremen t for catastrophic risks, extended to small businesses as of January 1, 2026, represents a stru ctural growth driver for the insured base and, prospectively, for the business line’s volumes.
* * * The Company quarterly report for the three months e nded September 30, 2026 will be approved by the board of directors of Moltiply Group S.p.A. to be held on November 12, 2026.
Moltiply Group S.p.A.
4
Attachment:
1. Quarterly consolidated income statement 2. Consolidated income statement for the six months ended June 30, 2026 and 2025 3. Consolidated balance sheet as of June 30, 2026 a nd December 31, 2025 4. Consolidated statement of cash flows for the six months ended June 30, 2026 and 2025 5. Consolidated net financial position as of June 3 0, 2026 and December 31, 2025 6. Declaration of the manager responsible for prepa ring the company’s financial reports
Certain statements contained herein are statements of future expectations and other forward-looking st atements. These expectations are based on management's current view s and assumptions and involve known and unknown ris ks and uncertainties. The user of such information should recognize that actual results, performance or event s may differ materially from such expectations because they rela te to future events and circumstances which are bey ond Company control including, among other things, general econ omic and industry conditions. Neither Moltiply Grou p S.p.A. nor any of its affiliates, directors, officers, employe es or agents owe any duty of care towards any user of the information provided herein nor any obligation to update any fo rward-looking information contained in this documen t.
Neither this presentation nor any part or copy of i t may be taken or transmitted into the United State s (US) or distributed, directly or indirectly, in the US or to any “US per son”, as that term is defined in the US Securities Act of 1933, as amended, (the “Securities Act”). Neither this presentation n or any part or copy of it may be taken or transmitt ed into Australia, Canada, Japan or to any resident of Japan, or distributed d irectly or indirectly in Australia, Canada, Japan o r to any resident of Japan.
Any failure to comply with this restriction may con stitute a violation of US, Australian, Canadian or Japanese securities laws.
This presentation does not constitute an offer of s ecurities to the public in the United Kingdom. Pers ons to whom this presentation is shown should observe all restrictions. By attend ing the presentation you agree to be bound by the f oregoing terms.
Only for press information:
Angélia & BC – Communication Simona Vecchies – Beatrice Cagnoni Carlo Sardanu – Mob. 375-8856565 Carlotta Sterlocchi – Mob. 342-6291312
mol@angelia.it
Moltiply Group S.p.A.
5 ATTACHMENT 1: QUARTERLY CONSOLIDATED INCOME STATEMENT
(euro thousand) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30,
2025
Revenues 160,425 182,650 207,038 165,386 168,881 Other income 2,514 3,562 3,297 2,940 2,538 Capitalization of internal costs 5,515 5,208 6,009 5,806 6,222 Services costs (70,875) (81,294) (99,283) (76,524) (79,287) Personnel costs (50,739) (54,276) (54,688) (49,571) (51,788) Other operating costs (4,738) (4,586) (5,726) (4,545) (4,584)
EBITDA 42,102 51,264 56,647 43,492 41,982
Depreciation and amortization (18,539) (18,887) (28,738) (16,730) (15,343) Operating income 23,563 32,377 27,909 26,762 26,639 Financial income 1,513 6,136 1,561 2,212 5,167 Financial expenses (7,686) (6,408) (6,492) (6,544) (7,754) Income/(Losses) from participations 4,032 1,073 1,706 (3) (127) Income/(Losses) from financial assets/liabilities (1 ,901) (1,891) (23,429) (365) (10,274) Net income before income tax expense 19,521 31,287 1,255 22,062 13,650 Income tax expense (5,351) (9,142) (10,460) (5,762) (3,566) Net income of Continuing Operations 14,170 22,145 (9,205) 16,300 10,084 Net Result of Discontinued Operations - 760 (11) (264) (103) Net income 14,170 22,905 (9,216) 16,036 9,981 Three months ended
Moltiply Group S.p.A.
6 ATTACHMENT 2: CONSOLIDATED INCOME STATEMENT FOR THE SIX MONTHS END ED JUNE 30,
2026 AND 2025
Six months ended (euro thousand) June 30, 2026 June 30,
2025
Revenues 343,075 301,692 Other income 6,076 4,768 Capitalization of internal costs 10,723 9,957 Services costs (152,169) (138,343) Personnel costs (105,015) (91,501) Other operating costs (9,324) (9,294)
EBITDA 93,366 77,279
Depreciation and amortization (37,426) (28,511) Operating income 55,940 48,768 Financial income 7,649 5,497 Financial expenses (14,094) (13,127) Income/(losses) from participations 5,105 (123) Income/(losses) from financial assets/liabilities (3 ,792) (10,821) Net income before income tax expense 50,808 30,194 Income tax expense (14,493) (7,887) Net income of Continuing Operations 36,315 22,307
Discontinued Operations
Net Result of Discontinued Operations 760 (363) Net income 37,075 21,944
Attributable to:
Shareholders of the Issuer 36,714 21,158 Minority interest 361 786 Earnings per share basic (Euro) 0.97 0.56 Earnings per share diluted (Euro) 0.96 0.55
Moltiply Group S.p.A.
7 ATTACHMENT 3: CONSOLIDATED BALANCE SHEET AS OF JUNE 30, 2026 AND DECEMBER 31,
2025
As of
(euro thousand) June 30, 2026 December 31,
2025
ASSETS
Intangible assets 643,163 658,973 Property, plant and equipment 49,479 56,974 Participations measured with equity method 1,556 1,885 Non-current financial assets 144,892 115,945 Deferred tax assets - 12,348 Other non-current assets 3,947 6,499 Total non-current assets 843,037 852,624 Cash and cash equivalents 121,861 140,099 Current financial assets 52,370 51,830 Trade receivables 181,982 186,392 Tax receivables 16,936 14,979 Other current assets 23,187 20,298 Total current assets 396,336 413,598 Assets held for sale - 4,411
TOTAL ASSETS 1,239,373 1,270,633
LIABILITIES AND SHAREHOLDERS' EQUITY
Share capital 944 969 Other reserves 298,273 303,109 Net income 36,714 28,588 Total group shareholders' equity 335,931 332,666 Minority interests 2,263 157 Total shareholders' equity 338,194 332,823 Long-term debts and other financial liabilities 510, 738 539,987 Provisions for risks and charges 1,636 1,773 Defined benefit program liabilities 27,590 26,562 Deferred tax liabilities 40,425 39,691 Other non-current liabilities 19,053 7,552 Total non-current liabilities 599,442 615,565 Short-term debts and other financial liabilities 102 ,237 92,700 Trade and other payables 77,832 88,726 Tax payables 9,748 20,382 Other current liabilities 111,920 118,956 Total current liabilities 301,737 320,764 Liabilities directly associated with assets held fo r sale - 1,481
TOTAL LIABILITIES 901,179 937,810
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 1,239,373 1,270,633
Moltiply Group S.p.A.
8 ATTACHMENT 4: CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MON THS ENDED
JUNE 30, 2026 AND 2025
Six months ended (euro thousand) June 30, 2026 June 30,
2025
Net income 37,075 21,944 Amortization and depreciation 37,426 28,511 Stock option expenses 1,317 1,244 Capitalization of internal costs (10,723) (9,957) Depreciation/(Revaluation) financial assets and lia bilities 3,792 10,821 Changes of the value of the participations evaluate d with the equity method (5,865) 123 Financial income and expenses 4,790 6,894 Changes in trade receivables/payables (6,492) (21,844) Changes in other assets/liabilities (10,360) (1,469) Changes in defined benefit program 1,028 312 Changes in provisions for risks and charges (137) 2 Net cash generated/(absorbed) by operating activiti es 51,851 36,581
Investments:
- Increase of intangible assets (997) (1,234)
- Increase of property, plant and equipment (1,318) (11,167)
- Acquisition of subsidiaries net of cash acquired (241) (179,553)
- Acquisition/(disposal) of non current financial a ssets (23,888) -
- Acquisition of current financial assets - (30,584) Dividends received 5,635 4,791
Disposals:
- Disposal of participations 3,462 -
Net cash generated/(absorbed) by investing activiti es (17,347) (217,747) Interest paid (10,479) (11,685) Increase of financial liabilities 67,636 405,326 Decrease of financial liabilities (54,723) (241,312) Purchase/(sale) of own shares (34,818) 47,175 Deferred payments related to acquisitions of previo us years (20,130) -
Net cash generated/(absorbed) by financing activiti es (52,514) 199,504 Net increase/(decrease) in cash and cash equivalent s (18,010) 18,338 Net cash and cash equivalent at the beginning of th e period 139,871 137,490 Net cash and cash equivalents at the end of the per iod 121,861 155,828 Cash and cash equivalents at the beginning of the p eriod 140,099 137,490 Current account overdrafts at the beginning of the period (228) -
Net cash and cash equivalents at the beginning of t he period 139,871 137,490 Net cash and cash equivalents at the end of the per iod 121,861 155,828 Current account overdrafts at the end of the period - -
Net cash and cash equivalents at the end of the per iod 121,861 155,828
Moltiply Group S.p.A.
9 ATTACHMENT 5: CONSOLIDATED NET FINANCIAL POSITION AS OF JUNE 30, 2026 AND
DECEMBER 31, 2025
As of
(euro thousand) June 30, 2026 December 31, 2025 Change % A. Cash and current bank accounts 121,861 140,099 (18,238) -13.0% B. Cash equivalents - - - N/A C. Other current financial assets 52,370 51,830 540 1.0% D. Liquidity (A) + (B) + (C) 174,231 191,929 (17,698) -9.2% E. Current financial liabilities (53,833) (45,126) (8,707) 19.3% F. Current portion of non-current financial liabilit ies (48,404) (47,574) (830) 1.7% G. Current indebtedness (E) + (F) (102,237) (92,700) (9,537) 10.3% H. Net current financial position (D) + (G) 71,994 99,229 (27,235) -27.4% I. Non-current financial liabilities (510,738) (539,987) 29,249 -5.4% J. Bonds issued - - - N/A K. Trade and other non-current payables (14,650) - (14,650) N/A L. Non-current indebtedness (I) + (J) + (K) (525,388) (539,987) 14,599 -2.7% M. Net financial position (H) + (L) (453,394) (440,758) (12,636) 2.9%
Moltiply Group S.p.A.
10 ATTACHMENT 6: DECLARATION OF THE MANAGER RESPONSIBLE FOR PREPARING THE
COMPANY ’S FINANCIAL REPORTS
Declaration Pursuant to Art. 154/bis, Paragraph 2 – Part IV, Title III, Chapter II, Section V-bis, of Italian Legislative Decree No. 58 of 24 February 1998: “Con solidation Act on Financial Brokerage Pursuant to A rticles 8 and 21 of Italian Law No. 52 of 6 February 1996” Re: Press release – Six months ended June 30, 2026 results I, the undersigned, Francesco Masciandaro, the mana ger responsible for preparing the financial reports of Moltiply Group S.p.A.,
DECLARE
pursuant to paragraph 2 of Article 154-bis of the C onsolidated Law on Finance, that the accounting information contained in this press release corresp onds with the accounting documents, ledgers and records.
Francesco Masciandaro
Moltiply Group S.p.A.
Fine Comunicato n.0921-81-2026 Numero di Pagine: 12