Informazione
Regolamentata n.
0163-19-2026Data/Ora Inizio Diffusione 11 Settembre 2026 17:30:06Euronext Star Milan
Societa' :IRCE
Utenza - referente :IRCEN01 - Casadio Elena
Tipologia :1.2
Data/Ora Ricezione :11 Settembre 2026 17:30:06 Data/Ora Inizio Diffusione :11 Settembre 2026 17:30:06 Oggetto :Fisrt half year 2026 financial results Testo del comunicato
Vedi allegato
PRESS RELEASE
1
FIRST HALF YEAR 2026 FINANCIAL RESULTS
The Board of Directors has today approved the consolidat ed financial statements as at June 30 th , 2026.
In the first half year 2026, IRCE Group (hereinafter also the "Group") recorded a net profit of € 7.29 mi llion.
Consolidated revenues amounted to € 223.35 million, an increase of 9.4% compared to € 204.09 million in the first half of 2025. This growth is attributable t o the rising trend in copper prices, which had a positi ve impact on results, despite a contraction in sales volumes.
Market demand remained weak across both business lines, w ith sales volumes declining compared to the first half of 2025. The decline in the winding wires segment is attributable both to the loss of sales followi ng the closure of the Dutch subsidiary Smit Draad in May 2025, a nd to difficulties in end markets, particularly the automotive industry and household appliance manufacturer s. More significant was the contraction in the cable segment, where traditional markets, such as construction a nd cabling, show no signs of recovery. In addition, in April, the Guglionesi (CB) plant, dedicated to th e production of low and medium voltage cables, had to halt production for almost a month due to flooding in the Molise region.
Results are reported in the following table:
Consolidated income statement data 30 June 2026 30 June 2025 Change (€/million) Value Value Value Turnover 1 223.35 204.09 19.26 Turnover without metal 2 43.13 47.17 (4.04)
EBITDA 3 20.14 10.82 9.32
EBIT 15.19 7.92 7.27
Result before tax 12.90 6.93 5.97 Group Net Result of the period 7.29 3.81 3.48
Adjusted EBITDA 4 19.64 11.73 7.91 Adjusted EBIT⁴ 14.69 8.83 5.86
Consolidated statement of financial position data 30 June 2026 31 December 2025 Change (€/million) Value Value Value Net invested capital 5 254.44 223.56 30.88 Shareholders’ equity 166.27 155.96 10.31 Net financial position 6 88.17 67.60 20.57
1 The item “Turnover” represents the “Sales revenues ” reported in the income statement.
2 Turnover without metal corresponds to the total tur nover less the metal component.
3 EBITDA is a performance indicator the Group’s Mana gement uses to assess the operating performance of the company and is not an IFRS measure; IRCE S.p.A. calculates it by adding deprec iation/amortisation, provisions and write-downs to EBIT.
4 Adjusted EBITDA and EBIT are calculated as the sum of EBITDA and EBIT and the gains/losses on copper and electricity derivatives transactions if realized (€ -0.50 million in first half of 2026 and € +0.91 million in first half of 2 025). These are indicators the Group’s Management uses to monitor and assess its own operating perfor mance and are not IFRS measures. Given that the com position of these measures is not regulated by the reference accounting standards, th e criterion used by the Group may not be consistent with that adopted by others and is therefore not comparable.
5 Net invested capital is the sum of net working cap ital, fixed assets, other receivables net of other payables, provisions for risks and charges and provisions for employee benefits.
6 The methods for measuring the net financial positi on as defined by Consob’s Notice no. 5/21 of 29 Apr il 2021, which incorporates the ESMA Guideline published on 4 March 2021.
PRESS RELEASE
2The net financial position as of June 30, 2026, is € 88 .17 million, up from € 67.60 million as of December 31, 2025. The increase is due to the growth in working capital, a consequence of the rise in copper prices.
Shareholders’ equity increased by € 10.31 million compar ed to December 31, 2025, net of dividend payments (€ 1.59 million), is mainly due to the profit for the period of € 7.29 million and the positive chan ge in the translation reserve of € 4.54 million, largely attr ibutable to the revaluation of the Brazilian real ag ainst the euro since the beginning of the year.
The Group's investments in the first half of 2026, amo unting to € 5.10 million, mainly refer to IRCE Sro i n the Czech Republic and the Brazilian subsidiary IRCE Ltda.
Ongoing conflicts, which are driving up costs, combined with a decline in market demand, create uncertainty regarding market prospects and the Group's results.
The Group continues its rationalization efforts while p ursuing medium to long-term growth strategy focusing on sectors linked to the energy transition. These initiat ives are expected to support efficiency gains and margin improvements, with a significant impact on future resul ts.
Output continues to increase at the Czech plant, while in China the installation of the systems is underway, followed by the installation of the machinery.
The manager responsible for preparing the company’s fin ancial reports, Mr Massimiliano Bacchini, declares, pursuant to paragraph 2 of Article 154-bis of the Con solidated Law on Finance, that the accounting informati on contained in this press release corresponds to our books and accounting records.
Imola, 11 September 2026
IRCE SPA
Contacts:
Investor relator: Mr. Sepriano Gianfranco Tel. + 39 0382 77535 e-mail: gianfranco.sepriano@irce-group.com
Head of Corporate Information: Ms. Elena Casadio Tel. + 39 0542 661220 e-mail: elena.casadio@irce-group.com
The IRCE Group is a major player in the winding wire s for electrical machinery and in the electrical cable sector.
As of June 30, 2026, production was carried out in th ree plants in Italy and five abroad: Blackburn (UK), Joinville SC (Brazil), Ostrava (Czech Republic), Kochi (India), and Kierspe (Germany). The Group also includes four trading companies, three of which are abroad (in Germ any, Spain and Switzerland) and two currently inactive companies (China and India). The Group employs 620 peo ple globally.
PRESS RELEASE
3 Consolidated statement of financial position
2026 2025
(Thousand of Euro) 30 June 31 December
ASSETS
Non current assets Goodwill and other intangible assets 47 55 Property, plant and machinery 75,402 71.141 Equipments and other tangible assets 2,326 2.056 Assets under constructions and advances 24,579 26.728 Non current financial assets 6 7 Deferred tax assets 4,306 4.135
NON CURRENT ASSETS 106,666 104,122
Current assets
Inventories 135,278 103.498 Trade receivables 79,380 56.945 Tax receivables 378 319 Other current assets 4,363 3.699 Current financial assets 295 295 Cash and cash equivalent 17,068 17.952
CURRENT ASSETS 236,762 182,708
TOTAL ASSETS 343,428 286,830
PRESS RELEASE
4
2026 2025
(Thousand of Euro) 30 June 31 December
EQUITY AND LIABILITIES
Shareholders' equity
Share capital 13,737 13,739 Reserves 145,544 136,349 Profit (loss) for the period 7,294 6,176 Shareholders' equity attributable to shareholders o f Parent company 166,575 156,264 Shareholders equity attributable to Minority intere sts (304) (304)
TOTAL SHAREHOLDERS' EQUITY 166,271 155,960
Non current liabilities Non current financial liabilities 43,717 39,482 Deferred tax liabilities 246 251 Non current provisions for risks and charges 1,102 558 Non current provisions for post employment obligati on 3,286 3,404
NON CURRENT LIABILITIES 48,351 43,695
Current liabilities
Current financial liabilities 61,819 46,362 Trade payables 51,899 30,397 Current tax payables 4,234 1,217 (of which related parties) 2,574 262 Social security contributions 1,531 1,706 Other current liabilities 9,210 7,381 Current provisions for risks and charges 112 112
CURRENT LIABILITIES 128,805 87,175
SHAREHOLDERS' EQUITY AND LIABILITIES 343,428 286,830
PRESS RELEASE
5 Consolidated income statement
2026 2025
(Thousand of Euro) 30 June 30 June
Sales revenues 223,349 204.086 Other revenues and income 1,076 1.308
TOTALE REVENUES AND INCOME 224,425 205.394
Raw materials and consumables (186,704) (164.837) Change in inventories of work in progress and finis hed goods 20,303 9.005 Cost for services (21,855) (20.915) Personnel costs (15,154) (17.173) Amortization /depreciation/write off tangible and i ntagible assets (3,902) (3.066) Provision and write downs (1,039) 164 Other operating costs (880) (654)
EBIT 15,194 7.918
Financial income / (charges) (2,292) (992)
RESULT BEFORE TAX 12,902 6.926
Income taxes (5,608) (3.104)
NET RESULT FOR THE PERIOD 7,294 3.822
Net result attributable to non-controlling interest s - 10 Net result attributable to shareholders of the Pare nt Company 7,294 3.811
EARNINGS/(LOSSES) PER SHARES
- basic EPS for the period attributable to sharehol ders of the parent company 0.2761 0,1441
- diluted EPS for the period attributable to shareh olders of the parent company 0.2761 0,1441
PRESS RELEASE
6 Consolidated statement of cash flow
2026 2025
(Thousand of Euro) 30 June 30 June
OPERATING ACTIVITIES
Result of the period (Group and Minorities) 7,294 3,822
Adjustments for:
Depreciation / Amortization 3,902 3,066 Net change in deferred tax (assets) / liabilities (162) (98) Capital (gains) / losses from disposal of fixed ass ets (243) (49) Losses / (gains) on unrealised exchange rate diffe rences 262 (44) Provisions/write down (release/reversal) 1,039 (164) Income taxes 5,770 3,203 Financial (income) / expenses 1,272 292 Operating result before changes in working capital 19,134 10,028 Income taxes paid (3,415) (953) Financial charges paid (2,461) (2,433) Financial income collected 1,189 2,141 Decrease / (Increase) in inventories (29,724) (21,609) Change in trade receivables (21,268) (13,783) Change in trade payables 20,809 17,957 Net changes in current other assets and liabilities 1,165 2,302 Net changes in current other assets and liabilities - related parties 19 (27) Net changes in non current other assets and liabili ties (32) (333)
CASH FLOW FROM OPERATING ACTIVITIES (14,584) (6,710)
INVESTING ACTIVITIES
Investments in intangible assets - (22) Investments in tangible assets (5,099) (10,651) Disposals of tangible and intangible assets 342 142
CASH FLOW FROM INVESTING ACTIVITIES (4,757) (10,531)
FINANCING ACTIVITIES
Repayments of loans (5,052) (2,271) Obtainment of loans 8,000 5,000 Net changes of current financial liabilities 16,438 12,407 Net changes of current financial assets (166) (62) Dividends paid to shareholders (1,585) (1,586) Sell/(purchase) of own shares (11) (46)
CASH FLOW FROM FINANCING ACTIVITIES 17,624 13,442
NET CASH FLOW FROM THE PERIOD (1,717) (3,799)
CASH BALANCE AT THE BEGINNING OF THE PERIOD 17,952 13,859
Exchange rate differences 833 (131)
NET CASH FLOW FROM THE PERIOD (1,717) (3,799)
CASH BALANCE AT THE END OF THE PERIOD 17,068 9,929
Fine Comunicato n.0163-19-2026 Numero di Pagine: 8