1 55
INTERIM FINANCIAL
REPORT
AS AT 30 JUNE 2026
2 Table of contents
DIASORIN WORLD ................................ ................................ ........................ 3
1. Corporate Bodies ................................ ................................ ................................ ................................ .... 3 2. Diasorin worldwide ................................ ................................ ................................ ................................ . 4 3. The Diasorin Group ................................ ................................ ................................ ................................ . 6 4. Diasorin’s business ................................ ................................ ................................ ................................ 7
GROUP TECHNOLOGIES ................................ ................................ ............. 9
1. IMMUNODIAGNOSTICS ................................ ................................ ................................ ................................ .. 9 2. MOLECULAR DIAGNOSTICS ................................ ................................ ................................ ......................... 10 3. LICENSED TECHNOLOGIES ................................ ................................ ................................ ......................... 11 4. RESEARCH AND DEVELOPMENT ................................ ................................ ................................ .................. 12 1. KEY CONSOLIDATED DATA ................................ ................................ ................................ ......................... 13
2. OVERVIEW OF FIRST -HALF 2026 PERFORMANCE AND COMPARISON WITH 2025 ................................ ............ 14
3. REVIEW OF THE GROUP 'S OPERATING PERFORMANCE AND FINANCIAL POSITION ................................ ........... 17
4. FINANCIAL POSITION AS AT 30 JUNE 2026 ................................ ................................ ................................ .. 21
5. TRANSACTIONS RESULTING FROM NON -RECURRING , ATYPICAL AND /OR UNUSUAL OPERATIONS ..................... 24
6. MAIN RISKS AND UNCERTAINTIES TO WHICH THE GROUP IS EXPOSED ................................ ............................ 24
7. SIGNIFICANT EVENTS AFTER THE INTERIM REPORTING PERIOD AND BUSINESS OUTLOOK ................................ 26
8. RELATED -PARTY TRANSACTIONS ................................ ................................ ................................ ................ 27 1. CONSOLIDATED INCOME STATEMENT ................................ ................................ ................................ .......... 28 2. CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE INCOME ................................ ................................ 29 3. CONSOLIDATED STATEMENT OF FINANCIAL POSITION ................................ ................................ ................... 30 4. CONSOLIDATED STATEMENT OF CASH FLOWS ................................ ................................ ............................. 32 5. STATEMENT OF CHANGES IN SHAREHOLDERS ’ EQUITY ................................ ................................ ................. 33 6. NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS ................................ ................................ . 35 7. Annex I: COMPANIES OF THE DIASORIN GROUP AS AT 30 JUNE 2026 ................................ ........................ 65 8. Statement on the Condensed Consolidated Interim Financial Statements ................................ .... 66 9. REPORT OF THE INDEPENDENT AUDITORS ................................ ................................ .................... 67
3
DIASORIN WORLD
1. Corporate Bodies
BOARD OF DIRECTORS (appointed on 28 April 2025)
Chair Michele Denegri Deputy Chair Giancarlo Boschetti Chief Executive Officer Carlo Rosa (1)
Directors Chen Menachem Even
Stefano Altara
Diva Moriani(2)(3)
Claudia Motta(2)
Diego Pistone
Fioranna Vittoria Negri(2)
Roberta Somati
Monica Tardivo
Giovanna Pacchiana Parravicini (2)
BOARD OF STATUTORY AUDITORS
Chair Nadia Fontana Statutory Auditors Patrizia Arienti Matteo Michele Sutera Alternate Auditors Margherita Spaini
Cristian Tundo
INDEPENDENT AUDITORS EY S.p.A.
COMMITTEES
Control, Risk and Sustainability Committee Fioranna Vittoria Negri (2) (Chair) Claudia Motta (2)
Diego Pistone
Remuneration and Nominati ons Committe e Diva Moriani (2) (Chair)
Giancarlo Boschetti
Claudia Motta (2)
Related -Party Transactions Committee Giovanna Pacchiana Parravicini (2) Diva Moriani (2) Fioranna Vittoria Negri (2)
(1) General Manager (2) Independent Director (3) Lead Independent Director
4
28 73
Direct presence
Countries served through distributors Production
centers
R&D centers
ASIA
CHINA
Shanghai
GERMANY
Dietzenbach
EUROPE
ITALY
Saluggia
Bresso
CANADA
Toronto
UK
2. Diasorin worldwide
NORTH AMERICA
USA
Austin
Chicago
Cypress
Madison
Stillwater
COUNTRIES
WITH A DIRECT
PRESENCE
COUNTRIES
SERVED
THROUGH
DISTRIBUTORS
5
392
PEOPLE DEDICATED TO RESEARCH
AND DEVELOPMENT OF ALTERNATIVE
SOLUTIONS
9 9 31
COMPANIES
PRODUCTION FACILITIES
R&D CENTRES
3260
EMPLOYEES
Data updated as at 30 JUNE 2026
6 Unless otherwise specified , the ownership interest held is 100% 3. The Diasorin Group
* ** hereinafter also referred to as “Diasorin Greece S.A.”
* dormant company
7 4. Diasorin’s business
As a leading company in the laboratory diagnostics market and a major player in the Life Science field, Diasorin develops cutting -edge solutions to meet the ongoing diagnostic and life science evolution. Through its unwavering commitment to Research and De velopment, the Company invests in groundbreaking projects and talents that ensure a sustainable long -term growth.
Over the past 25 years, this dedication to innovation has enabled the Company to be the first to launch dozens of specialty solutions on the diagnostic market .
Aware of the market evolution and trends in that market, Diasorin has directed its efforts towards increasingly innovative products and analysers.
In the immunodiagnostics field, for example , the Company is developing the next-generati on LIAISON XL analyser, which was introduced during the Investor Day in May 2026. In the molecular diagnostics sector, the Company is expanding its range of test panels on the new multiplexing LIAISON PLEX analyser and has launched the next-generation, Point-of-Care LIAISON NES analyser to meet decentralization needs. Lastly, in the Licensed Technologies field the Company has continued to expand the INTELLIFLEX installed base – a recently launched platform.
The large installed base, both at small laborato ries and at larger and more consolidated ones, along with the broad specialty testing menu and its positioning as the “Diagnostics Specialist” have allowed Diasorin to develop strategic partnerships, such as those with QIAGEN for the detection of infection s from latent tuberculosis and with MeMed for the differentiation between bacterial and viral infections.
The Company’s business model starts from the healthcare needs and turn them, through research, into diagnostic answers and solutions.
Diagnosis is t he first step to determine the health status of each person: for this reason, Diasorin’s diagnostic solutions can make the difference by providing timely and reliable answers to increasingly challenging clinical questions.
People’s wellbeing and health ar e at the core of Diasorin’s business and the Company aligns all its actions and strategies with this mission . Through projects and initiatives in line with its values and corporate culture, Diasorin is committed to disseminating scientific knowledge, prom oting talents and inclusiveness, adopting policies that are respectful of our planet and improving the wellbeing of the communities in which it operates.
8
9
GROUP TECHNOLOGIES
1. IMMUNODIAGNOSTICS
In the immunodiagnostics field, Diasorin researches, develops and manufactures antibody and antigen tests based on CLIA technology, which delivers extremely reliable and fast results and fully automates the diagnostic procedure, offering one of the largest test menus to laboratories.
Through this technology Diasorin provides a broad range of diagnostic solutions, addressing the needs of different therapeutic areas, including the diagnosis of infectious diseases, detection of gastrointestinal pathogens and neonatal diagnostics - where it provides a highly specialized solution. The Company continues to expand its range of tests, optimizing the performance of its solutions to support healthcare professionals in the early diagnosis and monitoring of diseases w hile ensuring quality and reliable results.
Through its “Diasorin 3.0” strategy, the Company has integrated into its immunodiagnostic offering a range of solutions based on advanced diagnostic algorithms that clinically support disease prognosis as well a s disease and patient management. These solutions enable Diasorin to enter new markets and strengthen the Company's position as a leader in specialty diagnostics.
Business growth is driven by a strong commitment to developing new tests with solutions ofte n targeting less common and specialized diseases , which have always been one of Diasorin's key differentiator in the diagnostic market.
A further growth driver is represented by the development and commercialization of new product s through partnership agreements with leading diagnostic companies, creating synergies between different technical -
scientific skills to offer innovative, often un ique, solutions to laboratories.
10
2. MOLECULAR DIAGNOSTICS
Diasorin’s molecular diagnostics testing solutions are based on instruments that enable the simultaneous detection of up to four different pathogens (single/low -plex technology), or dozens of pathogens (multiplexing technology). These two technologies meet different diagnostic needs: on the one hand, they can detect pathogens in cases of clear clinical suspicion (single/low -plex technology); on the other hand, they can test a wide range of syndromes (multiplexing technology).
These platforms support a broad menu of molecular diagnostic tests for nucleic acid amplification (DNA/RNA) of specific infectious agents so that laboratories can identify their presence in patients’ biological samples.
In the field of single/low ‑plex technologies, Diasorin's product range includes the LIAISON MDX platform providing both a portfolio of specialty mole cular tests based on targeted single -plex technology and a range of single/low -
plex solutions for the detection of respiratory infections. Within the scope of low ‑plex technologies, Diasorin provides an extensive, ever -expanding menu of 69 ASR s (Analyte -Specific Reagents) for use in LDT s (Laboratory - Developed Tests), namely finished products developed directly by laboratories.
The Group's new platform, the LIAISON NES, is intended for decentralized testing to meet the increasing demand for Point -of-Care molecular solutions by performing targeted and highly reliable molecular tests in a short time (about 15 minutes).
With regard to multiplexing technologies, Diasorin differentiates the non ‑automated multiplexing offering on the MAGPIX e Luminex 100/200 pl atforms from the more advanced automated multiplexing one on the VERIGENE and LIAISON PLEX platforms and the corresponding diagnostic solutions.
Through the LIAISON PLEX, Diasorin has implemented a groundbreaking flexibility in multiplexing technology to help laboratories select and test a subgroup of pathogens on the basis of patient’s conditions and exogenous factors, such as seasonality. These solutions are extremely flexible and maximize test utility by providing the information needed to guide critic al decisions, removing redundant laboratory testing, maximizing efficiency and clinical utility , and ensuring a more cost -effective approach.
11
3. LICENSED TECHNOLOGIES
In the Licensed Technologies field, Diasorin offers the market platforms featuring proprietary xMAP technology that can run, through the use of microspheres, a broad range of multiplexing tests and meet the different needs of its partners.
Specifically, t his is a business -to-business in which Diasorin technology is used by the following types of
customers:
- in vitro diagnostics companies that purchase platforms and microspheres they use to develop and produce proprietary tests for the diagnostic market;
- Life Science and pharmaceutical companies that use Diasorin products to develop tests for research
purposes;
- research and academic world.
12
4. RESEARCH AND DEVELOPMENT
The diagnostic world is rapidly evolving in light of new scientific knowledge and new therapeutic approaches and clinical needs.
Many health services adopt the Value Based Care approach to promote prevention, optimize treatments and reduce hospital access . In this regard, diagnostics plays a key role as accurate and timely diagnosis delivers more effective and high -quality care while reducing healthcare system costs and improving patient health.
Against this backdrop, Diasorin is called upon to bring its innovative potential into play and invest resources and talent to develop solutions that can interpret new trends and improve patient management .
The Company’s growth has always been based on its proven capacity to drive rapid and sustained innovation, meet laboratories' needs , and introduc e new diagnostic tools to help clinicians make the most informed clinical decisions for patient treatment.
With over 400 researchers, mainly based in Italy and in the United States, and significant investments in resea rch and development , Diasorin continuously evolves its diagnostic offering . This enables the Company to deliver cutting -edge solutions to laboratories worldwide every year while further consolidating its "Specialist " positioning.
13
1. KEY CONSOLIDATED DATA
Income statement 06/30/2026 06/30/2025 (in € thousands) Revenue 601,615 619,272 Gross profit 389,389 405,915 Adjusted Gross profit (1) 389,918 407,648
EBITDA (2) 188,167 203,717
Adjusted (1) EBITDA 194,311 215,276 Operating result (EBIT) 125,053 138,198 Adjusted (1) operating result (EBIT) 148,585 169,578 Net profit for the period 83,755 98,735 Adjusted (1) net profit 106,093 126,461
Statement of financial position
06/30/2026 12/31/2025
(in € thousands) Capital invested in non -current assets 2,142,928 2,088,070 Net invested capital 2,260,046 2,156,628 Net financial debt (844,375) (579,823) Shareholders’ equity 1,415,672 1,576,805
Statement of cash flows
06/30/2026 06/30/2025
(in € thousands) Net cash flow for the period (44,998) (171,194) Free cash flow (3) 57,782 83,203 Capital expenditures 55,436 63,126 Employees (no,) 3,260 3,280
(1) The Adjusted Gross Profit, Adjusted EBIT, Adjusted EBITDA, and Adjusted Net Profit indicators are provided in the table included in the section “Overview of the Group’s performance in the first half of 2026 and comparison with the first half of 2025”.
(2) EBITDA is defined as the “Operating Resu lt”, gross of amortization and depreciation of intangible and tangible assets. EBITDA is a measure used by the Company to monitor and evaluate the Group's operating performance and is not defined as an accounting measure in IFRS and the refore shall not be considered an alternative measure for assessing the Group operating result performance. Since the composition of EBITDA is not regulated by the reference accounting standards, the criterion of determination applied by the Group may not be homogeneous with that adopted by other operators and/or groups and therefore may not be comparable.
(3) Free cash flow is the cash flow from operating activities, counting utilizations for capital expenditures and taxes but befor e interest payments, acquisitions of compa nies and business operations and taking out/repaying borrowings.
14
2. OVERVIEW OF FIRST -HALF 2026 PERFORMANCE AND COMPARISON
WITH 2025
Foreword
The consolidated interim financial report as at 30 June 2026 has been prepared in compliance with the International Accounting Standards (IFRS) issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union in accordance with IAS 34 – Interim F inancial reporting, applying the same accounting standard adopted in the preparation of the consolidated financial statements as at 31 December 2025, and are consistent with the provisions issued in implementation of Art. 9 of Legislative Decree No. 38/200 5.
This interim report presents and comments on alternative performance measure s that are not identified in the IFRS. These measures, which are described below, are used to comment on the Group’s business performance in sections “ Key consolidated data ” an d “Review of the Group’s operating performance and financial position”, in compliance with the requirements of Consob communication of 28 July 2006 (DEM 6064293), as subsequently amended and supplemented (Consob communication 0092543 of 3 December 2015, wh ich incorporates the ESMA Guidelines 2015/1415) and ESMA Guidelines 32 -382-1138 of 4 March 2021.
The alternative performance measure s listed below should be used to supplement the information required by IFRS to help readers of the report gain a more comp rehensive understanding of the Group’s economic, financial and operating position . These measures exclud e one-off items related to non -recurring events, which include costs associated with corporate restructuring and organizational efficiency programs following the launch of the new platforms, amortization of the Purchase Price Allocation of Luminex , and financ ial expense s related to the financing of the acquisi tion, including the related tax impact.
It should be noted that the calculation of these Adjuste d measure s could differ from those used by other companies.
The following provides the alternative performance measure s as of 30 June 2026:
(in € thousands) Gross profit EBITDA(2) Operating Result (EBIT) Net
result
Financial Statements Measures 389,389 188,167 125,053 83,755
Adjustments
One-off costs related to non -recurring events 529 6,143 4,942 4,942 Amortization of fair value adjustments to Luminex intangible s identified in the Purchase Price Allocation - - 18,590 18,590 Financial charges relating to debt instruments and to the convertible bond issued to finance the acquisition of Luminex, net of hedging effects - - - 6,487 Total adjustments before tax effect 529 6,143 23,532 30,019 Fiscal effect on adjustments - - - (7,680) Total adjustments 529 6,143 23,532 22,339 Adjusted Measures 389,918 194,311 148,585 106,093
(2) Looking at the data on the table, EBITDA is defined as the “Operating Result”, gross of amortization and depreciation of intangible and tangible assets. EBITDA is a measure used by the Company to monitor and evaluate the Group's operating performance and is not defined as an accountin g me asure in IFRS and therefore shall not be considered an alternative measure for assessing the Group operating result performance. Since the composition o f EBITDA is not regulated by the reference accounting standards, the criterion of determination applied by the Group may not be homogeneous with that adopted by other operators and/or groups and therefore may not be comparable.
15 The following provides the alternative performance measures at of 30 June 2025 (*):
(in € thousands) Gross profit EBITDA(2) Operating Result (EBIT) Net
result
Financial Statements Measures 405,915 203,717 138,198 98,735
Adjustments
One-off costs related to non -recurring events 1,733 11,559 12,415 12,415 Amortization of fair value adjustments to Luminex intangibles identified in the Purchase Price Allocation - - 18,964 18,964 Financial charges relating to debt instruments and to the convertible bond issued to finance the acquisition of Luminex, net of hedging effects - - - 6,235 Total adjustments before tax effect 1,733 11,559 31,380 37,615 Fiscal effect on adjustments - - - (9,889) Total adjustments 1,733 11,559 31,380 27,726 Adjusted Measures 407,648 215,276 169,578 126,461 (*) In order to improve comparability, the H1 2025 adjusted income statement measures have been restated to reflect a different timing allocation of the Chinese subsidiary's operating costs following its reorganization, which were originally fully recognized in the fourth quarter 2025. These costs have been reallocated throughout 2025 based on the period to which they relate.
Significant events occurred in the first half of 2026 During the six months ended 30 June 2026, the Group completed the acquisition of 100% of the share capital of BIOKOSMOS MORIAKI S.A. (now Diasorin Greece S.A.), a Greek distributor of Diasorin and Qiagen products, for a value equal to € 4 million, subject to customary purchase price adjustment s related to the Net Financial Position and Net Working Capital at the closing date.
The acquisition is part of the Group’s strategy to strengthen its direct presence in high-growth -potential markets and consolidate its commercial presence in Greece through a proprietar y operating platform.
For further details, reference should be made to paragraph ("Business combinations").
16 Macroeconomic scenario and the foreign exchange market The economic and financial fallout from the Middle East conflict weighed on the first half of 2026, contributing to higher inflationary pressures , creating uncertainty regarding the global growth outlook , and increasing volatility in financial markets .
As for interest rate trends, major central banks adopted a prudent monetary approach, part icularly in relation to inflationary trend s. Although the U.S. Federal Reserve kept interest rates unchanged , it did not project any rate cuts in 2026 and signalled the possibility of a rate hike, while the ECB implemented its first rate hike in June.
In the foreign exchange market, the average EUR/USD exchange rate reflect ed a marked appreciation of the euro compared to the first half of 2025 (+7%), averaging 1.1666 versus 1.0927 in the corresponding period of previous year; the comparison of end-of-period exchange rates showed a moderate appreciation of the U.S. dollar as of 30 June 2026, compared to the exchange rate a t year-end 2025.
Against the other major currencies relevant to the Group, the euro showed a general downward trend, with an overall limited depreciation, both in terms of average exchange rate compared to the first half of 2025 and end-of-
period exchange rate as at 30 June compared to the year -end 2025. The only exception was the Indian currency, which depreciated by 15% in the first half of 2026 versus the corresponding period of 2025.
The table below provides a comparison of the average and end-of period exchange rates of the main currencies relevant to the Group (Source European Central Bank) in the first half of 2026 and 2025.
Currency Average exchange
rate Exchange
rates as at 2026 2025 Change 06/30/2026 12/31/2025 Change U.S. dollar 1.1666 1.0927 7% 1.1394 1.1750 -3% Brazilian real 6.0127 6.2913 -4% 5.9003 6.4364 -8% British pound 0.8672 0.8423 3% 0.8618 0.8726 -1% Swedish kronor 10.7895 11.0961 -3% 11.0935 10.8215 3% Swiss franc 0.9179 0.9414 -2% 0.9224 0.9314 -1% Czech koruna 24.3130 25.0016 -3% 24.2560 24.2370 0% Canadian dollar 1.6074 1.5400 4% 1.6220 1.6088 1% Mexican peso 20.3754 21.8035 -7% 19.9030 21.1180 -6% Israeli shekel 3.5440 3.9291 -10% 3.3953 3.7471 -9% Chinese yuan 8.0073 7.9238 1% 7.7314 8.2262 -6% Australian dollar 1.6612 1.7229 -4% 1.6544 1.7581 -6% South African rand 19.1396 20.0823 -5% 18.6544 19.4439 -4% Norwegian krone 11.1707 11.6608 -4% 11.3105 11.8430 -4% Polish zloty 4.2423 4.2313 0% 4.2955 4.2210 2% Indian Rupee 108.5944 94.0693 15% 107.8565 105.5965 2% Singapore dollar 1.4907 1.4461 3% 1.4754 1.5105 -2% UAE Dirham 4.2843 4.0131 7% 4.1844 4.3152 -3%
17
3. REVIEW OF THE GROUP 'S OPERATING PERFORMANCE AND FINANCIAL
POSITION
Foreword
The interim financial report was prepared in accordance with IAS 34 and on the basis of the same accounting standards applied in the preparation of the consolidated annual financial statements as at 31 December 202 5, except as otherwise stated in the Notes to the Fin ancial Statements – paragraph “New accounting standards”.
Financial performance for the first half 2026 and comparison with 2025 (in € thousands) 06/30/2026 As a % of Revenue 06/30/2025 As a % of Revenue Revenue 601,615 100.0% 619,272 100.0% Cost of sales (212,226) 35.3% (213,357) 34.5% Gross profit 389,389 64.7% 405,915 65.5% Adjusted Gross profit 389,918 64.8% 407,648 65.8% Sales and marketing expenses (147,470) 24.5% (142,467) 23.0% Research and development costs (46,772) 7.8% (47,205) 7.6% General and administrative (61,141) 10.2% (61,387) 9.9% Total operating expenses (255,384) 42.4% (251,059) 40.5% Other operating income (expense) (8,952) 1.5% (16,658) 2.7% Operating Result (EBIT) 125,053 20.8% 138,198 22.3% Adjusted Operating Result (EBIT) 148,585 24.7% 169,578 27.4% Financial income/(expense) (13,546) 2.3% (6,751) 1.1% Profit before taxes 111,506 18.5% 131,447 21.2% Income taxes (27,752) 4.6% (32,712) 5.3% Net profit 83,755 13.9% 98,735 15.9% Adjusted net profit 106,093 17.6% 126,461 20.4%
EBITDA (1) 188,167 31.3% 203,717 32.9%
Adjusted EBITDA 194,311 32.3% 215,276 34.8% (1) Looking at the data in the table, EBITDA is defined as the “Operating Result”, gross of amortization and depreciation of intangible and tangible assets.
EBITDA is a measure used by the Company to monitor and evaluate the Group's operating performance and is not defined as an ac counting mea sure in IFRS and therefore shall not be considered an alternative measure for assessing the Group operating result performance. S ince the composition of EBITDA is not regulated by the reference accounting standards, the criterion of determination applied by the Group may not be homogeneous with that adopted by other operators and/or groups and therefore may not be comparable.
18
Revenue
In the first half of 2026, Diasorin generated revenue for € 601,615 thousand (€ 619,272 thousand in 2025) in line with the same period of the prior year at CER ( -2.9% at current exchange rates). Exchange rate movements had a negative impact of around € 20 million on revenue, mainly due to the depreciation of the U.S. dollar against the euro.
In the second quarter 2026, revenue grew by 4.0% at CER compared to the seco nd quarter 2025 (+2.9% at current exchange rates , with a negative impact of € 3 million), reflecting the absorption of non -recurring factors that had negatively impacted the first quarter of the year.
Breakdown of revenue by technology (in € thousands) 2026 % of revenue 2025 % of revenue
2026 2025
Immunodiagnostics 419,789 69.8% 419,001 67.7% Molecular Diagnostics 96,547 16.0% 109,085 17.6% Licensed Technologies 85,278 14.2% 91,186 14.7% Total 601,615 100.0% 619,272 100.0% Immunodiagnostics revenue amounted to € 419 ,789 thousand, up by 2.4% at CER ( flat at current exchange rates).
In the second quarter of 2026, revenue grew by 4.1% at CER compared to the same period of the previous year (+3.5% at current exchange rates) confirming the positive business momentum, following the absence of the non-
recurring items that had affected the first -quarter results . The period benefitted from the solid U.S. market performance, w hich accelerated significa ntly and delivered a sustained growth (+9 .6% at CER, +6,3% at current exchange rates). The Latent Tuberculosis test continued to deliver double -digit growth in the U.S. and European hospitals, supported by the launch of the new high -throughput version of t he LIAISON QuantiFERON -TB Gold Plus II. Challenging m arket conditions persisted both in China due to the to the implementation of Volume - Based Procurement (VBP) and in the Middle East, where geopolitical tensions continued to negatively affect demand.
Molecular diagnostics revenue amounted to € 96,547 thousand, down 6 .1% at CER comp ared to the first half of 2025 ( -11.5% at current exchange rates).
In the second quarter 2026, the business delivered growth of 1.0% at CER ( -1.1% at current exchange rates), despite the continued effects of a weak flu season, which weighed on demand for respiratory testing. Growth was supported by specialty tests on the LIAISON MDX low -plex molecular platform, which grew by 24.4% at CER.
Automated multiplexing panels (Verigene I and LIAISON PLEX) also contributed positively, growing 6.7% at CER in the sec ond quarter of 2026 despite a downward trend in respiratory panel volumes, confirming the ongoing development of the new business on the LIAISON PLEX platform.
Licensed Technologies revenue amounted to € 85,278 thousand, down 0.7% at CER ( -6.5 % at current exchange rates).
The second quarter 2026 deliver ed growth of 6.8% at CER compared to the same period of the previous year (+4.3% at current exchange rates). This performance mainly reflects a different tim ing of orders from Diasorin’s partners and a partial recovery in the Life Science segment, which had been significantly affected in the previous year by funding cuts to the U.S. National Institutes of Health (NIH).
19 Breakdown of Revenue by geography The following table provides a comparison of revenue in the first half of 2026 with the same period of the prior year, broken down by geographic areas , highlighting the percentage changes at current exchange rates and at constant exchange rates.
(in € thousands) 2026 2025 % Change % Change Current Exchange rates Constant Exchange rates Europe direct 221,578 218,082 1.6% 1.8% North America direct 295,438 313,175 -5.6% 0.6% Rest of the World1 84,599 88,016 -3.9% -3.7% Total Revenue 601,615 619,272 -2.9% 0.4%
Europe direct
Revenue in the first half of 2026 amounted to € 221 ,578 thousand, up 1.8% at CER (+1.6% at current exchange rates) compared to the same period of 2025. Solid performance of the immunodiagnostics business, which contributed to 3.3% growth at both CER and current exchange rates in the second quarter of 2026 compared to the same period of the previous year , supported by continued business expansion despite volume normalization comp ared to the pre -COVID period.
North America direct Revenue in the first half of 2026 amounted to € 295 ,438 thousand, up 0 .6% at CER ( -5,7% at current exchange rates) compared to the same period of 2025.
In the second quarter, the immunodiagnostics business delivered solid growth (+9.6% at CER), driven by the strong performance of CLIA specialty tests and the success of the U.S. hospital strategy.
Molecular diagnostics sales i ncrease d in the second quarter 2026 (+4.4 % at CER compared to the same period of the pr evious year), primarily supported by the excellent performance of specialty tests on the LIAISON MDX low-plex molecular platform (+30 .0% at CER versus the second quarter 2025) and the expansion of the automated multiple xing business (Verigene I and LIAISON PLEX), which grew by 8.3 % at CER versus the second quarter 2025. These results more than offset the weak demand for respiratory testing, which continued to be affected by the previously mentioned weak flu season durin g the quarter.
Rest of the World Revenue in the first half of 2026 amounted to € 84,599 thousand, down 3.7% at CER ( -3.9% current exchange rates) compared to the same period of 2025.
In the second quarter, growth continued in countries where Diasorin operates directly. Excluding China, where the effects of VBP -related policies continue , these markets grew by 10. 9 % at CER (+17.7% at current exchange rates).
This performance was only pa rtially offset by lower revenue in markets served through local distributors, particularly in the Middle East, where the ongoing conflict and the resulting market environment negatively impacted sales performance.
1The Rest of the World includes sales in markets where the Group does not operate through a direct presence (i.e, through a commercia branch).
20
Operating performance
Adjusted gross profit in the first half of 2026 was € 389 ,918 thousand, down 4 .3% as against € 407 ,648 thousand in the first half of 2025, equal to 64 .8% of revenue. In the second quarter, adjusted gross profit represented 64 .7% of revenue despite the nega tive impact of tariffs. Gross profit was € 389 ,389 thousand.
Operating expenses, net of adjusted elements, were € 236 ,586 thousand, up 2 .1% compared to the same period of the previous year and with a 39.3% ratio to revenue as against 37 .4% in 2025.
Other operating expenses were € 4 ,747 thousand, a decrease of € 1 ,599 thousand compared to the same period of the previous year , net of one –off elements that include costs covering the reorganization intended to realign Research and Development activities and strengthen the sales force following the launch of NES and PLEX platforms.
Adjusted EBITDA amounted to € 194 ,311 thousand , down 9 .7% compared to the first half of 2025 and representing 32 .3% of revenue (34 .8% in the same period of the p revious year). The decline compared to the prior-year period is mainly attributable to the impact of VBP -related pricing pressure in China, planned investments to strengthen the U.S. commercial organization for the launch of the LIAISON NES platform, and the negative impact of tariffs. In the second quarter, EBITDA ma rgin stood at 33 .3% at CER, improving from the first quarter.
EBITDA for the first half of the year amounted to € 188 ,167 thousand, down 7 .6% compared to the same period of the previous year, representing 31 .3% of revenue.
Adjusted EBIT amounted to € 148,585 thousand, (€ 169 ,578 thousand in the first half of 2025), down 12 .4% compared to the same period of the pr evious year, representing 24 .7% of revenue as against 27 .4% in 2025.
In the first half of 2026, EBIT amounted to € 125 ,053 thousand down 9 .5% compared to the same period of 2025, representing 20 .8% of revenue.
Financial income and expense In the first half of 2026 , net financial expenses amounted to € 13 ,546 thousand, as against € 6 ,751 thousand in the same period of 2025. The increase is due to lower interest income in the period as a result of a reduction in interest rates and lower cash invested, as well as higher interest expenses and other financial expenses related to the bank l oan entered into by Diasorin S.p.A. and additional Group credit facilities.
Interest income and expense and other financ ial expense s include:
• € 4,907 thousand in financ ial expense s arising from the application of the amortised cost method to the convertible bond issued by the Group’s Parent Company (€ 4,808 in the first half of 2025);
• € 4,129 thousand in loans and credit facilities (€ 1 ,427 thousand in the first half of 2025);
• € 2,324 thousand in interest income accrued on cash management instruments (€ 4 ,934 thousand in the first half of 2025).
21 Profit before tax and net profit The first half of 2026 ended with a profit before tax of € 111 ,506 thousand, down 15 .2% as against € 131 ,447 thousand in the previous year, accounting for 18 .5% of revenue. Year-over-year change s reflect the combined effects described above.
The net profit was € 83 ,755 thousand (down 15 .2% compared to the same period of the previous year). In the first half of 2 026, the adjusted net profit was € 106 ,093 thousand , down by € 20,368 thousand or 16 .1% compared to the first half of the previous year, accounting for 17 .6% of revenue (20.4% in 2025).
4. FINANCIAL POSITION AS AT 30 JUNE 2026
The consolidated financial position as at 30 June 2026 is provided below:
(in € thousands) 06/30/202 6 12/31/2025 Goodwill and intangible Assets 1,827,493 1,789,953 Property, plant and equipment 272,257 255,853 Other non -current assets 43,178 42,264 Net working capital 383,519 325,193 Other non -current liabilities (266,400) (256,635) Net invested capital 2,260,046 2,156,628 Net financial debt (844,375) (579,823) Shareholders’ equity 1,415,672 1,576,805
Non-current assets, including intangible and tangible assets and other non -current assets increased to € 2,142,928 thousand as at 30 June 2026 , compared to 31 December 2025 (€ 2 ,088.070 thousand). The change is due to the conversion in euros of fixed assets denominated in U.S. dollars.
Amortization and depreciation, equal to € 64 ,394 thousand, offset investments amounting to € 60 ,758 thousand, which mainly re fer to LIAISON PLEX, LIAISON NES and LIASON XL 2.2 projects.
Other non -current liabilities amounted to € 266,400 thousand, increas ing by € 9,765 thousand compared to 31 December 2025, mainly due to exchange rate movements relating to deferred -tax liabilities recognized primarily by North American companies.
A breakdown of net working capital is as follows:
(in € thousands) 06/30/2026 12/31/2025 Trade receivables 219,109 200,702 Inventories 369,009 334,604 Trade payables (109,551) (108,804) Other current assets/liabilities (95,049) (101,309) Net working capital 383,519 325,193
As at 30 June 2026, the net working capital was € 383 ,519 thousand, with an increase of € 58 ,326 thousand compared to the previous year.
Trade receivables increased to € 219 ,109 thousand compared to 31 December 2025 due to the revenue growth in the second quarter of 2026 versus the fourth quarter 2025, in line with the Group's average collection terms.
Ending inventories were € 369 ,009 thousand and increased by € 34 ,406 (+10%) thousand, mainly due to the increase in instrument inventories and finished products for newly launched products.
Trade payables were € 109 ,551 thousand as at 30 June 2026, slightly up compared to the end of the previous year.
22 As at 30 June 202 6, the net financial debt was € 844,375 thousand .
A breakdown of the consolidated net financial debt is as follows:
(in € thousands) 06/30/2026 12/31/2025 Change A Cash on hand 120,801 165,799 (44,998) B Cash equivalents - - -
C Other current financial assets 78 42,689 (42,612) D Liquidity (A+B+C) 120,879 208,488 (87,609)
E Current financial debt (including debt instruments, but excluding current portion of non -current financial debt) 172,748 44,477 128,271 F Current portion of non -current financial debt - 213,067 (213,067) G Current financial debt (E+F) 172,748 257,544 (84,796) H Net current financial debt (G -D) 51,869 49,056 2,813 I Non-current financial debt (excluding current portion and debt instruments) 310,738 53,907 256,831 J Debt instruments 481,767 476,860 4,907 K Trade payables and other non -current debts - - -
L Non-current financial debt (I+J+K) 792,506 530,767 261,738 M Total financial debt (H+L) 844,375 579,823 264,552 Details of the net financial debt for the period are as follows:
• Repayment of the last two instalments of the Term Loan, amounting to USD 50,000 thousand in January and USD 200,000 in April;
• Drawdown of € 250 ,000 thousand under the Term Loan facility granted to Diasorin S.p.A. to support the treasury share buy -back program.
• In the first half of 2026, Diasorin Inc . entered into a new Credit Facility for a total amount of USD 75 ,000 thousand to support its subsidiary's funding needs . As at 30 June 2026, the credit facility was fully utilised ;
• The “Revolving Credit Facility” due 2028 and renewed for an amount to € 150 ,000 thousand in 2025 by Diasorin S.p.A. was drawn down by € 70 ,117 thousand a s at 30 June 2026.
• Drawdown of € 23,776 thousand under the credit facility by the Chinese subsidiary.
Further details on the debt instruments above are provided in the Notes to the interim financial statements.
As at 30 June 2026, the consolidated shareholders' equity was € 1,415,672 thousand (€ 1,576,805 thousand at 31 December 2025) and includes no. 6 ,449,018 treasury shares, equal to 11 .53% of the share capital, for a total amount of € 571 ,090 thousand.
For a comprehensive breakdown of the movements during the period, reference should be made to the Statement of Changes in Shareholders' Equity.
23 Analysis of consolidated cash flows A complete statement of consolidated cash flows is provided in the consolidated interim financial statements. A schedule showing a condensed consolidated statement of cash flows, followed by a review of the main statement items and changes that occurred compared to the first half of 2025 is provided below.
(in € thousands) 1st half 2026 1st half 2025 Cash and cash equivalents - Opening balance 165,799 344,270 Net cash provided by operating activities 109,230 144,962 Cash used in investing activities (12,860) (27,756) Cash used provided by /(used in ) financing activities (141,367) (288,401) Change in net cash before investments in financial assets (44,998) (171,194) Investments in financial assets - -
Change in net cash (44,998) (171,194) Cash and cash equivalents - Closing balance 120,801 173,076 As at 30 June 2026, available liquid assets held by the Group amounted to € 120 ,801 thousand , a decrease of € 52,275 million compared to the first half of 2025.
In the first half of 2026, cash flow provided by operating activities amounted to € 109 ,230 thousand, a decrease of € 35 ,732 thousand compared to the same period of 2025. The change was due to the reduction in EBITDA, as described above, and to the net working capital trend.
Net cash used in investing activities amounted to € 12 ,860 thousand; the change of € 14 ,896 thousand compared to the first ha lf of 2025 reflects the full redemption of time deposits previously used by U.S. companies for cash denominated in U.S. dollars.
Free cash flow in the first half of 2026 amounted to € 57,782 thousand , a decrease of € 25 ,421 thousand as against € 83,203 thousand in the first half of 2025, as a consequence of the factors described above and higher inventory levels associated with the launch of the LIAISON NES platform. Cash generation is, however, expected to improve in the second half of the year, also supported by the progressive reduction of inventory levels.
Net cash used in financing activities amounted to € 141 ,367 thousand, as against € 288 ,401 thousand generated in the first half of 2025. This cash out flow was primarily due to cash outlays under the current share buy -back program , the repayment of the Term Loan held by Diasorin Inc., partly offset by the utili sation of the Term Loan entered into by Diasorin S.p.A. and the two new credit facilities entered into by the Group's Parent Company and the U.S. subsidiary , as described above. Lastly, dividends paid amounted to € 64 ,581 thousand (€ 62 ,878 thousand in 2025).
For an analysis of the main changes in the period, reference should be made to the Notes to the Sta tement of Cash Flows.
24
5. TRANSACTIONS RESULTING FROM NON -RECURRING , ATYPICAL AND /OR
UNUSUAL OPERATIONS
Consistent with Consob Communication No. DEM/6064296 of 28 July 2006, in 2025 the Group did not carry out atypical and/or unusual transactions as provided by the Communication, which defines as atypical and/or unusual transactions those transactions that, because of their significance/materiality, type of counterparty, purpose, method used to determine the transfer price and timing ( close to the end of the year), could give rise to doubts with regard to: the accuracy/completeness of the disclosure provided in the financial statements, conflict of interests, safety of the corporate assets and protection of non-controlling interests .
6. MAIN RISKS AND UNCERTAINTIES TO WHICH THE GROUP IS EXPOSED
Risks associated with general economic condition The Group ’s economic, financial and operating position is affected by macroeconomic and geopolitical factors beyond the Company’s control.
The products distributed by Diasorin are part of basic medical care coverage, which is mainly funded by national health services or private insurance companies. In some coun tries where the Group operates , questioning the costs of the public welfare system can lead to increase d pressure to reduce healthcare reimbursement and, in some cases, lower the volume of laboratory tests ordered by physicians.
This may have an impact on the market where Diasorin operates, even though diagnostics accounts for only a marginal portion of overall healthcare expenditure and increased use of diagnostic tests supports prevention and reduces the need for more invasive treatments, ultimately contributing to cost savings for healthcare systems.
The macroeconomic climate continues to be marked by uncertaint y related to the evolution of geopolitical tensions, international trade policies and inflation ary press ures. These elements may continue to affect the Group's manufacturing and procurement costs. Any increase in operating costs may not be fully transferred to customers through price adjustments and may potential ly result in pressure on margins. As at the d ate of this Report, these factors have not had a material impact on Group’s results.
Risks associated with the Group’s international presence and expansion The Group operates in several countries, including emerging markets that may be affected by economic, political and social instability. Current geopolitical tensions and conflicts in some areas, such as Ukraine and the Middle East, fuel global uncertainty.
In the first half of 2026, the escalation of the conflict in the Middle East heightened vo latility in energy markets , resulting in a sharp increase in oil prices and growing risks related to freight logistics. The Group does not anticipate any material impact s arising from the military conflict in the Middle East in the current reporting year.
Developments in the relevant environment are being closely monitored.
In countries where it does not operate through subsidiaries, Diasorin uses independent distributors to sell its products. As a rule, these distributors are small or medium -sized compani es. This model entails risks related to the financial stability of local partners that may impact both their growth potential and their insolvency risk.
The Group monitors the evolution of the regulations on trade restrictions or tariff measures adopted , as well as potential statutory reimbursements in certain Countries, including the United States, on diagnostic products or
25 raw materials used in manufacturing processes. At the moment, the tariff measures ann ounced or introduced have no material impact on the Group's operations.
Risks associated with funding requirements A prudent cash management strategy includes maintaining sufficient cash , readily available assets and credit facilities . Cash flows, funding needs and liquidity are monitored centrally, in order to ensure timely access to funding sources and an adequate employment of the liquidity available.
In February 2026 , the Company entered into a € 250 million floating - rate loan agr eement with a five -year term made available by a pool of banks. The loan agreement was aimed at supporting the equity buy -back p rogram while preserving the Group’s financial flexibility.
In the first half of the year, the Company fully repaid the loan entered into by Diasorin Inc. in 2021 to finance the acquisition of Luminex.
Based on the financial resources, credit facilities currently available, and cash flows provided by operating activities , Management believes that the Group has adequate resources to address its expected funding requirements.
Credit risk
In certain emerging countries, limited financial liquidity of local customers may result in gaps between the contractual payment terms and the collection terms. Impairment losses on receivables are recognized through the simplified approach required under IFRS 9, using a provision matrix which is estimated on the basis of historical loss experience combined with outlooks on future economic conditions.
Impairment losses on receivables are recognized through the simplified approach required by IFRS 9 to measure loss allowance through lifetime expected credit loss. Specifically, the Group calculates expected credit loss using a provision matrix which is estimated on the basis of historical credit loss experience for past due receivables and is adjusted to reflect current conditions and estimates on relevant future economic conditions.
The Company uses factoring facilities to manage a portion of trade receivables portfolio, with the aim of mitigating the credit risk and optimizing th e management of workin g capital, in compliance with risk management internal policies.
Risks associated with foreign exchange and interest rate fluctuations The Group operates in countries where the reporting currency is not the Euro and, consequently, it is exposed to the ri sk related to fluctuations in foreign exchange rates. Revenue is generated in US dollar (accounting for about 50% of revenue in 2026), the Chinese yuan (about 3%) and the Canadian dollar (about 2%).
Any exchange rate fluctuations may have an imp act on the Group's income statement, balance sheet and financial position.
With regard to interest rates, the Group is exposed to movements in market interests in relation to a portion of its floating -rate debt. In the first half of 2026, in order to mitigat e this risk the Group entered into an interest rate swap agreement (pay fixed, receive floating) for a total notional amount of € 150 million to hedge a portion of the € 250 million loan, reducing the exposure to any increase in interest rates.
Interest e xpense does not accrue on the convertible bond issued by the Group’s Parent Company. The Group believes that the overall exposure to risks associated with interest rate fluctuations is appropriately mitigated.
26
Commercial risk
Diasorin operates in a market characterized by major competitors that use particularly aggressive strategies and exert pressure on sales price, especially on high -volume products (mainstream). In order to mitigate this risk, the Group constantly develops specialty menu to cover niche markets.
The consolidation of testing laboratories in some countries may concentrate revenue on a limited number of customers. Diasorin mitigates this risk through the adoption of long -term contracts and the implementation of a commercial strategy a imed at expanding the customer base that is composed of medium and small -sized hospital laboratories.
The regulatory and competitive framework in China continues to weigh on international diagnostics players. The government initiatives “Made in China 2025” and “Volume -Based Procurement” (VBP) have created competitive conditions that tend to favour local operators. The programme “Made in China 2025” aims to reach a domestic production share of at least 70% by 2025 in strategic sectors, including medical devi ces, promoting the development of in -house technological solutions. At the same time, the initiative VBP, with its full impact beginning in 2025, has introduced a mechanism that imposes price reductions of up to 50% to gain access to public tenders, thus exerting pressure on revenue and, consequently, on operating margins. The persistence and intensification of policies designed to favour local operators and significantly reduce prices may negatively impact the future performance of the Chinese market.
Against this backdrop, Diasorin has launched a project aimed at reorganizing the operating activities at its Chinese subsidiary, consistent with the approach adopted in similar initiatives and as part of its strategy to optimize production facilities globall y with the objective of strengthening long ‑term competitiveness. The viability assessment of the Chinese plant – prompted by new macroeconomic conditions and the i mplementation of Volume ‑Based Procurement (VBP) regulation - led to a reorganization of thes e activities. The operation , which is expected to be completed by the end of 2026, will be implemented in compliance with existing contractual agreements and is expected to generate operating synergies and annual cost savings estimated at approximately € 6 million, with a cash payback period of less than one year. This will enable the Group to focus its commercial strategy on specialty tests, such as latent tuberculosis tests and the immunodiagnostics panel for gastrointestinal infections.
Climate and environmental risks The Group is not exposed to any significant climate or environmental risks, given the sector and industry in which it operates.
7. SIGNIFICANT EVENTS AFTER THE INTERIM REPORTING PERIOD AND
BUSINESS OUTLOOK
Management does not report significant events after the interim reporting period and considers the accounting estimates to be appropriate for the preparation of the consolidated interim financial statements as at 30 June 2026.
As regards business outlook, the Management confirms 2026 guidance at 2025 CER as follows:
- TOTAL REVENUE : growth between ca. +5% and +6%
- ADJUSTED EBITDA MARGIN : equal to ca. 32% - 33%
27
8. RELATED -PARTY TRANSACTIONS
Diasorin S.p.A. has engaged on a regular basis in commercial and financial transactions with its subsidiaries, which are also Group companies. These transactions, which fall within the scope of ordinary business activities and are executed on standard market terms, consist of the supply of goods and services, including administrative, information technology, personnel management, technical support and consulting services, which produce receivables and payables at the end of the year, and financ ing and cash management transactions, which produce income and expenses. The impact of these transactions on the single items of the statement of financial position, the income statement and the cash flow s is summarized in the financial statements and deta iled in Note 30 of the Consolidated Financial Statements and Note 27 of the Separate Financial Statements . The “Procedure for Related -Party Transactions” for the first half of 2026 can be consulted on the company’s website at
www.diasorin.com
28
CONSOLIDATED INTERIM FINANCIAL STATEMENTS AS
AT 30 JUNE 2025
1. CONSOLIDATED INCOME STATEMENT
(in € thousands) Notes 1st Half
2026 amount
with
related
parties 1st Half
2025 amount
with
related
parties
Revenue (1) 601,615 619,272 Cost of sales (2) (212,226) (213,357) Gross profit 389,389 405,915 Sales and marketing expenses (3) (147,470) (142,467) Research and development costs (4) (46,772) (47,205) General and administrative expenses (5) (61,141) (3,381) (61,387) (2,938) Other operating (expense) and income (6) (8,952) (16,658) non-recurring amount (4,448) (10,127) Operating Result (EBIT) 125,054 138,198 Financial income (7) 3,145 5,633 Financial expense (8) (16,691) (12,384) Profit before taxes 111,506 131,447 Income taxes (9) (27,752) (32,712) Net profit 83,755 98,735
Of which:
- attributable to the Parent Company’s shareholders 84,351 99,403
- attributable to non-controlling interests (596) (668) Earnings per share (basic) (10) 1.68 1.83 Earnings per share (diluted) (10) 1.69 1.81
29
2. CONSOLIDATED STATEMENT OF OTHER COMPREHENSIVE
INCOME
(in € thousands) Notes 1st half 2026 1st half
2025
Net profit for the period (A) 83,755 98,735 Other comprehensive gains/(losses) that will not be reclassified subsequently to gain/(loss) of the period:
Gains/(losses) on remeasurement of defined benefit plans (20)(22) - (26) Total other comprehensive gains/(losses) that will not be reclassified subsequently to gain/(loss) of the period (B1): - (26) Other comprehensive gains/(losses) that will be reclassified subsequently to gain/loss of the period:
Gains/(losses) from translation of financial statements of foreign branches (20) 51,338 (204,014) Gains/(losses) on cash flow hedges (20) (3,885) (6,260) Total other comprehensive gains/(losses) that will be reclassified subsequently to gain/(loss) of the period (B2): 47,453 (210,274)
TOTAL OTHER COMPREHENSIVE GAINS/(LOSSES), NET OF TAX
EFFECT (B1)+(B2)=(B) 47,453 (210,301)
TOTAL COMPREHENSIVE GAIN/(LOSS) (A)+(B) 131,208 (111,566)
Of which:
- attributable to the Parent Company’s shareholders 131,330 (111,099)
- attributable to non-controlling interests (122) (466)
30
3. CONSOLIDATED STATEMENT OF FINANCIAL POSITION
(in € thousands) Notes 06/30/2026 amount
with
related
parties 12/31/2025 amount
with
related
parties
ASSETS
Non-current assets
Property, plant and equipment (11) 272,257 255,853 Goodwill (12) 780,144 754,152 Intangible assets (12) 1,047,348 1,035,802 Equity investments (13) 26 26 Deferred -tax assets (14) 39,189 36,854 Other non -current assets (15) 3,963 5,384 Other non -current financial assets (21) - -
Total non-current assets 2,142,928 2,088,070
Current assets
Inventories (16) 369,009 334,604 Trade receivables (17) 219,109 200,702 Other current assets (18) 43,208 38,135 Other current financial assets (21) 78 45,853 Cash and cash equivalents (19) 120,801 165,799 Total current assets 752,205 785,093
TOTAL ASSETS 2,895,133 2,873,163
31 Consolidated statement of financial position (continued)
(in € thousands) Notes 06/30/2026 amount
with
related
parties 12/31/2025 amount
with
related
parties
LIABILITIES
Shareholders’ equity
Share capital (20) 55,948 55,948 Treasury shares (20) (571,090) (343,302) Additional paid -in capital (20) 18,155 18,155 Statutory reserve (20) 11,190 11,190 Other reserves and retained earnings (20) 1,824,927 1,686,878 Net profit 84,351 155,624 Total Group’s shareholders’ equity 1,423,481 1,584,493 Other reserves and retained earnings attributable to non-controlling interests (7,688) (1,896) Net profit attributable non-controlling interests (122) (5,792) Shareholders’ equity attributable to non-controlling interests (7,810) (7,688) Total Consolidated Shareholders’ Equity 1,415,672 1,576,805
Non-current liabilities
Non-current financial liabilities (21) 792,505 533,931 Provisions for employee benefits (22) 30,772 30,463 Deferred -tax liabilities (14) 203,596 196,482 Provisions for risks and charges (23) 24,139 21,671 Other non -current liabilities (24) 7,893 8,019 Total non -current liabilities 1,058,905 790,566
Current liabilities
Trade payables (25) 109,551 108,804 Other current liabilities (26) 105,685 608 112,903 132 Current tax liabilities (27) 32,571 26,542 Current financial liabilities (21) 172,749 257,544 Total current liabilities 420,557 505,792 Total liabilities 1,479,462 1,296,358
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 2,895,133 2,873,163
32
4. CONSOLIDATED STATEMENT OF CASH FLOWS
(in € thousands) Notes 1st half 2026 amount with
related
parties 1st half 2025 amount with
related
parties
Cash flow from operating activities Net profit 83,755 98,735
Adjustments for:
-Income taxes (9) 27,752 32,712
- Amortization, depreciation and impairment (11) (12) 64,394 65,519
- Financial expense (income) (7) (8) 13,546 6,751
- Additions to/(utilizations of) provisions for risks (23) 2,012 11,466
- (Gains)/Losses on sales of non -current assets (6) 24 (22)
- Additions to/ (Reversals of) provisions for employee severance indemnities and other benefits (22) 9 (31)
- Stock options reserve (20) 4,981 4,734
- Translation reserve on operating activities (20) (7,193) 50,802
- Change in other non-current assets/liabilities (15) (24) (6,634) - (41,143) Cash flow from operating activities before changes in working capital 182,648 229,523
(Increase)/Decrease in current receivables (17) (14,594) (25,928) (Increase)/Decrease in inventories (16) (27,436) (8,240) Increase/(Decrease) in trade payables (25) (832) (4,085) (Increase)/Decrease in other current items (18) (26) (8,279) (131) (22,391) (395) Cash provided by operating activities 131,508 168,879 Income taxes paid (9) (27) (19,908) (24,802) Collected interests / (paid) (21) (2,370) 886 Net cash provided by operating activities 109,230 144,963
Investments in intangible assets (12) (22,369) (37,462) Investments in tangible assets (11) (33,067) (25,664) Divestment of intangible and tangible assets (11) (12) 1,618 2,252 (Placement )/Repayment of term deposits (21) 42,921 33,118 Cash used by regular investing activities (10,897) (27,756) Cash flow absorbed by business combinations (1,963) -
Cash used for investing activities (12,860) (27,756) (Repayment of)/ Proceeds from loans and other financial liabilities (21) 152,820 (206,572) (Purchase)/Sale of treasury shares (20) (232,755) 860 Dividend distribution (20) (64,582) (62,878) Cash used by financing activities (144,517) (268,590) Currency translation effect 3,150 (19,811) Change in net cash (44,998) (171,194) Cash and cash equivalents - Opening balance 165,799 344,270 Cash and cash equivalents - Closing balance 120,801 173,076
33
5. STATEMENT OF CHANGES IN SHAREHOLDERS ’ EQUITY
(in € thousands) Notes Share
capital Treasury
shares Additional
paid-in
capital Statuto
ry
reserve Currency
translation
reserve Stock
option
reserve Reserv
e for
treasur
y
shares Other
reserves
and
Retained
earnings Net profit
for the
year Total
Group
equity Non-
controlling
interests Total
consolidate
d
shareholde
rs’ equity
Shareholders’ equity at 12/31/2024 55,948 (251,783) 18,155 11,190 168,633 25,714 251,783 1,333,173 188,105 1,800,918 (1,896) 1,799,022 Allocation of previous year’s profit (20) - - - - - - - 188,105 (188,105) - - -
Dividend distribution (20) - - - - - - - (63,550) - (63,550) - (63,550) Stock options and other changes (20) - - - - - 4,733 - - 4,733 - 4,733 Sale/(Purchase) of treasury shares (20) - 5,618 - - - - (5,618) 860 860 - 860 Put/Call option rights on subsidiaries (20) (24) - - - - - - - - - - - -
Other changes (20) - - - - - (4,860) - (92,279) - (97,139) - (97,139) Net profit (20) (10) - - - - - - - - 99,403 99,403 (668) 98,735 Gains/(losses) on remeasurement of defined benefit plans, net of tax effect (20) (22) - - - - - - - (26) - (26) - (26) Translation adjustments (20) - - - - (204,215) - - - (204,215) 203 (204,013) Cash flow hedge reserve (20) - - - - - - - (6,260) - (6,260) - (6,260) Other changes in the comprehensive income statement (20) - - - - (204,215) - - (6,286) - (210,502) 203 (210,299) Comprehensive profit (20) (10) - - - - (204,215) - - (6,286) 99,403 (111,099) (465) (111,564) Shareholders’ equity at 06/30/2025 55,948 (246,165) 18,155 11,190 (35,582) 25,587 246,165 1,360,023 99,403 1,534,724 (2,361) 1,532,362
34 (in € thousands) Notes Share
capital Treasury
shares Additional
paid-in
capital Statutory
reserve Currency
translation
reserve Stock
option
reserve Reserve
for
treasury
shares Other
reserves
and
Retained
earnings Net profit
for the
year Total
Group
equity Non-
controlling
interests Total
consolidated
shareholders’
equity
Shareholders’ equity at 12/31/2025 55.948 (343.302) 18.155 11.190 (39.003) 26.693 343.302 1.355.886 155.624 1.584.493 (7.688) 1.576.805 Allocation of previous year’s profit (20) - - - - - - - 155.624 (155.624) - - -
Dividend distribution (20) - - - - - - - (64.735) - (64.735) - (64.735) Stock options and other changes (20) - - - - - 4.981 - - - 4.981 - 4.981 Sale/(Purchase) of treasury shares (20) - (232.755) - - - - 232.755 (232.755) (232.755) - (232.755) Put/Call option rights on subsidiaries (20) (24) - - - - - - - 167 - 167 - 167 Other changes (20) - 4.967 - - - (8.761) (4.967) 8.761 - - - -
Net profit (20) (10) - - - - - - - - 84.351 84.351 (596) 83.755 Gains/(losses) on remeasurement of defined benefit plans, net of tax effect (20) (22) - - - - - - - - - - - -
Translation adjustments (20) - - - - 50.864 - - - - 50.864 474 51.338 Cash flow hedge reserve (20) - - - - - - - (3.885) - (3.885) - (3.885) Other changes in the comprehensive income statement (20) - - - - 50.864 - - (3.885) - 46.979 474 47.453 Comprehensive profit (20) (10) - - - - 50.864 - - (3.885) 84.351 131.330 (122) 131.208 Shareholders’ equity at 06/30/2026 55.948 (571.090) 18.155 11.190 11.861 22.913 571.090 1.219.063 84.351 1.423.481 (7.810) 1.415.672
35
6. NOTES TO THE CONSOLIDATED INTERIM FINANCIAL STATEMENTS
General information and scope of consolidation
General information
The Diasorin Group is specialized in the development, manufacturing and marketing of immunodiagnostics and molecular diagnostics tests. The Group’s Parent Company, Diasorin S.p.A., is in Via Crescentino (no building No.), Saluggia (VC). The Board of Direct ors authorized the publication of these Consolidated Financial Statements on 31 July 2026.
Principles for the preparation of the consolidated interim financial statements The accounting standards applied to prepare this Interim Report are consistent with t hose used for the Consolidated Annual Financial Statements a s at 31 December 2025, supplemented by the new standards as described in paragraph “New accounting standards”.
These Consolidated Interim Financial Statements were prepared in compliance with the International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”) and endorsed by the European Union. The designation IFRS also includes the I nternational Accounting Standards (“IAS”) that are still in effect and all the interpretations of the International Financial Reporting Interpretations Committee (“IFRIC”).
This Interim Report was prepared in accordance with the requirements of the relevan t international accounting standard (IAS 34 - Interim Financial Reporting).
The notes provide information in summary form, in order to avoid duplicating information published previously, as required by IAS 34. Specifically, these notes discuss only those components of the income statement and balance sheet the composition or change in amount of which require comment (due to the amount in volved or the type of transaction or because an unusual transaction is involved) in order to understand the Group’s economic, financial and operating position.
Consequently, these Consolidated Interim Financial Statements do not provide all the disclosure required in the Annual Financial Statements and should be read in conjunction with the Consolidated Annual Financial Statements prepared for the year ended 31 December 2025.
When preparing the Interim Financial Statements, management is required to develop estimates and assumptions that affect the amounts shown for revenue, expenses, assets and liabilities in the financial statements and the disclosures provided with regard to contingent assets and liabilities. If such estimates and assumptions, which were based on management’s best projections, should differ from actual events, they will be modified appropriately when the relevant events produce the abovementioned differences.
Moreover, certain valuation processes, particularly the more complex processes su ch as determining whether the value of non -current assets has been impaired, are carried out fully only in connection with the preparation of the annual financial statements, when all the necessary information is available, except when there are impairment indicators that require an immediate evaluation of any impairment losses that may have occurred.
For the purposes of preparing the Consolidated Interim Financial Statements the necessary valuations were carried out to determine the provisions for employee s’ benefits, supplementary customer indemnity and the stock option plans.
All the other items that are subject to valuation are described in the notes to the consolidated financial statements for the year ended 31 December 2025.
The income tax liability is recognized using the best estimate of the weighted average tax rate projected for the entire year referable to the companies included in the scope of consolidation.
In these Consolidated Interim Financial Statements, all amounts are denominated in Euros a nd rounded to thousands of euros, unless otherwise stated.
36
Financial statements presentation formats The following provides the presentation formats and classification criteria adopted by the Group in respect of the accounting options set forth in IAS 1 - Presentation of financial statements:
• the consolidated Statement of financial position has been prepared by classifying assets and liabilities according to the “current/non -current” criteria;
• the income statement and the comprehensive income statement ha ve been prepared by classifying expenses by function in addition to profit (loss) of the period, other changes in equity other than transactions carried out with Company’s shareholders. This classification of the income statement, or by destination, is re presentative of the format used for internal reporting and management purposes and is in line with international practice in diagnostic sector;
• the consolidated statement of cash flows is presented by stating cash flows provided by operating activities acc ording to the “indirect method”;
• pursuant to Consob Resolution no. 15519 of 28 July 2006, within the income statement income and expenses from non -recurring transactions are identified separately; similarly, the financial statements show separately any bal ances related to receivable/payable positions and transactions with related parties, which are further described in the section of these notes to the financial statements “Transactions with related parties” (see Note 30).
The Consolidated Interim Financia l Statements were prepared based on the conventional historical cost criterion, except for the measurement of financial assets and liabilities in those cases in which the use of the fair value criterion is mandatory.
Scope of consolidation These Consolidated Interim Financial Statements include the financial statements of Diasorin S.p.A., the Group’s Parent Company, and those of its subsidiaries a s at 30 June 2026. The financial statements of the consolidated companies are those prepared by the Board of Directors for their respective approvals.
Subsidiaries are companies over which Diasorin S.p.A, directly or indirectly, has the right to exercise control, as defined in IFRS 10 “Consolidated Financial Statements”. In order to assess the existe nce of control, the following three requirements are to be satisfied:
• power over the company;
• exposure to the risks and rights deriving from the variable returns entailed by its involvement;
• ability to affect the company so as to influence the investor’s ( positive or negative) results.
Subsidiaries are consolidated line by line from the date the Group obtains control until the moment when control ceases to exist.
The Group has neither subsidiaries with significant non -controlling interests nor unconsolidated structured entities and it is not subject to significant restrictions concerning interests in subsidiaries.
Compared to 31 December 2025, the scope of consolidation changed following the inclusion of Diasorin Greece S.A. and the liquidation of Luminex Trading (Shanghai) Co. Ltd.
Investments in subsidiaries A list of direct and indirect equity interests in subsidiaries a s at 30 June 2026 and a s at 31 December 2025 is provided below:
37 Company Country As at 30 June 2026 As at 31 December 2025 % held by the Group % non -
controlling
interests % held by the Group % non -
controlling
interests
Direct equity interests Diasorin Italia S.p.a. Italy 100% - 100% -
Diasorin S.A/N.V. Belgium 100% - 100% -
Diasorin Ltda Brazil 100% - 100% -
Diasorin S.A. France 100% - 100% -
Diasorin Iberia S.A. Spain 100% - 100% -
Diasorin Ltd United Kingdom 100% - 100% -
Diasorin Inc. United States 100% - 100% -
Diasorin Mexico S.A de C.V. Mexico 100% - 100% -
Diasorin Deutschland GmbH Germany 100% - 100% -
Diasorin AB Sweden 100% - 100% -
Diasorin Greece S.A. Greece 100% - - -
Diasorin Ltd Israel 100% - 100% -
Diasorin Austria GmbH Austria 100% - 100% -
Diasorin Czech s.r.o. Czech Republic 100% - 100% -
Diasorin Australia (Pty) Ltd Australia 100% - 100% -
Diasorin Ltd China 76% 24% 76% 24% Diasorin Switzerland AG Switzerland 100% - 100% -
Diasorin Poland sp. z o.o. Poland 100% - 100% -
Diasorin I.N. Limited Ireland 100% - 100% -
Diasorin APAC Pte Ltd Singapore 100% - 100% -
Diasorin Middle East FZ -LLC UAE 100% - 100% -
Indirect equity interests Diasorin Canada Inc Canada 100% - 100% -
Diasorin Healthcare India Private Limited India 100% - 100% -
Diasorin Molecular LLC United States 100% - 100% -
Luminex Corporation United States 100% - 100% -
Nanosphere LLC United States 100% - 100% -
ChandlerTec LLC United States 100% - 100% -
Luminex Molecular Diagnostics Inc. Canada 100% - 100% -
Luminex Japan Corp. Lts. Japan 100% - 100% -
Luminex Trading (Shanghai) Co. Ltd. China 0% - 100% -
Luminex Hong Kong Ltd. Hong Kong 100% - 100% -
A complete list of the investee companies containing information about registered offices and ownership percentage is provided in Annex I.
38
Business Combinations
During the first half ended 30 June 2026, the Group completed the acquisition of 100% of the share capital of BIOKOSMOS MORIAKI S.A. (now Diasorin Greece S.A.) , a Greek distributor of Diasorin and Qiagen products, for a value equal to € 4 million, subject to customary purchase price adjustments related to the Net Financial Position and Net Working Capital at the closing date.
The amount includes € 2 million paid o n a pro -rata basis to sellers on 29 May 2026 using the Group's liquid assets.
The remaining amount, equal to € 2 million, net of any customary purchase price adjustments based on the Net Financial Position and the Net Working Capital at the closing date, has been recognized under non -current financial liabilities as at 30 June 2026 since the relevant payment will be due 24 months after the closing date.
Through this acquisition the Diasorin Group strengthen ed its direct commercial presence in the Greek ma rket through a direct operating platform, supporting the further development of the Group activities in the area.
The difference between the consideration transferred and the fair value of the assets and liabilities acquired was provisionally recognized a s "Goodwill". IFRS 3 allows a period of twelve months to finalize the accounting for a Business Combination (Open Window). The following table details assets and liabilities recognized at fair value arising from the provisional purchase pr ice allocation for the acquisition :
(in € thousands) Carrying amounts at the acquisition date Provisional Fair Value
TOTAL NON -CURRENT ASSETS 1,642 1,642
TOTAL CURRENT ASSETS 3,393 3,393
TOTAL ASSETS 5,035 5,035
TOTAL NON -CURRENT LIABILITIES 456 456
TOTAL CURRENT LIABILITIES 4,279 4,279
TOTAL LIABILITIES 4,735 4,735
TOTAL EQUITY 300 300
Goodwill 3,700
Total fair value consideration 4,000
(in € thousands) (in €
thousands)
Consideration paid (4,000) Deferred payment due after 24 months 2,000 Cash and cash equivalents acquired 37 Total cash flow absorbed by business combination (1,963)
39 New accounting standards Below are the international accounting standards, interpretations and amendments to existing accounting standards and interpretations or specific provisions contained in the standards and interpretations approved by IASB, which have be en endorsed or have not been endorsed for adoption in Europe as of the date on which this document has been approved .
New documents issued by the IASB and endorsed by the EU to be compulsorily adopted for financial statements for reporting periods beginning on 1 January 2026.
Document title Date of issuance Effective date Endorsement date EU Regulation and
publication date
Amendments to the Classification and Measurement of Financial Instruments (IFRS 9 and IFRS 7) 30 May 2024 1 January 2026 25 May 2025 28 May 2025 Contracts Referencing Nature -dependent Electricity – Amendments to IFRS 9 and IFRS 7 - 1 January 2026 30 June 2025 30 June 2025 Annual Improvements Volume 11 18 July 2024 1 January 2026 10 July 2025 9 July 2025
IAS/IFRS and related IFRIC interpretations applicable to financial statements for reporting periods beginning after 30 June 2026 and/or documents NOT yet endorsed by the EU as at 30 June 2026.
These standards and interpretations shall apply only after endorsement by the EU .
Document title Effective date of
the IASB
document EU endorsement date IASB issu ance date
Accounting standards
IFRS 18 Presentation and Disclosure in Financial Statements 1 January 2027 5 May 2025 9 April 2024 IFRS 19 Subsidiaries without Public Accountability: Disclosures 1 January 2027 25 September 2025 9 May 2024
Amendments
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates:
Translation to a Hyperinflationary Presentation Currency 1 January 2027 TBD 13 November 2025 Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures 1 January 2027 18 December 2025 21 August 2025
The Group will adopt these new standards, amendments and interpretations on the basis of the expected effective date and following their endorsement by the European Union. An ongoing assessment is being conducted regarding the possible effects of these ame ndments on the consolidated financial statements.
New accounting standards endorsed and adopted by the Group This note discloses the impact of adopting the amendments to accounting standards effective from 1 January 2026 on the consolidated financial statements to the extent that they differ from those applied in previous periods .
40
Amendments to the Classification and Measurement of Financial Instruments (IFRS 9 and IFRS 7) The amendments were published by the IASB in May 2024 and endorsed by the European Commission on 31 May 2024. The amendments are effective for reporting periods beginning on or after 1 January 2026.
The changes introduced relate to the following matters:
a) clarifications about the date of recognition and derec ognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system;
b) clarification and further guidance for assessing whether a financial asset meets the so -called SPP I test;
c) addition of new disclosures for certain instruments with contractual terms that can change cash flows (such as some instruments with features linked to the achievement environmental, social and governance
(ESG) targets);
d) update of the disclos ures for equity instruments designated at fair value through other comprehensive income (FVOCI).
Contracts Referencing Nature -dependent Electricity – Amendments to IFRS 9 and IFRS 7
In December 2024, the IASB issued amendments to IFRS 9 and IFRS 7 - Contra cts Referencing Nature‑dependent Electricity.
These amendments apply exclusively to contracts referring to this type of electricity and:
a) clarify the application of the ‘own -use’ requirements for in -scope contracts;
b) amend the designation requirements for a hedged item in a cash flow hedging relationship for
in-scope contracts;
c) add new disclosure requirements to enable investors to u nderstand the effects of these contracts on a company's financial performance and cash flows.
Annual Improvements Volume 11
The IASB annual improvement project provides a streamlined process for dealing efficiently with a collection of amendments to IFRS. The main objective of the process is to improve the quality of standards, by amending existing IFRS to clarify guidance and wording, or to correct for relatively minor unintended consequences, conflicts or oversights. The Group will adopt these new stand ards, amendments and interpretations on the basis of the expected effective date and following their endorsement by the European Union.
New amendments and standards issued but not yet adopted by the Group and/or not yet
endorsed
IFRS 18 Presentation and Disclosure in Financial Statements The new accounting standard IFRS 18 establishes new requirements for the presentation of financial statements, with a particular focus on the statement of profit or loss. These include requirements for th e presentation of subtotals, the aggregation and disaggregation of information, and disclosures on performance measures.
The Group is currently working to identify the impacts that these amendments will have on its financial statements and related notes T he preliminary assessments of the key impacts expected on the Group's consolidated financial statements are as follows:
41 • foreign exchange gains and losses will be classified in the same category as the income and expenses items that give rise to the foreig n exchange difference;
• new disclosure requirements will be introduced with reference to: (a) management -defined performance measures; (b) expenses by nature, where expenses are presented by function within the "operating" category in the statement of profi t/(loss); and (c) a reconciliation, for each line item in the income statement, between the amounts restated by applying the IFRS 18 and those previously presented under
IAS 1;
• interest income and interest expense will be classified, respectively, under in vesting activities and financing activities in the statement of cash flows.
IFRS 19 Subsidiaries without Public Accountability: Disclosures
In May 2024, the IASB issued IFRS 19, which allows eligible entities to apply reduced disclosure requirements while continuing to fully comply with the recognition, measurement, and presentation requirements of other IFRS Accounting Standards.
At the end of the reporting period, an entity is eligible to apply IFRS 19 if it:
a) is a subsidiary, as def ined by IFRS 19;
b) does not have public accountability;
c) is included in the scope of consolidation of an ultimate or intermediate parent company that prepares the Company's financial statements in accordance with IFRS Accounting Standards and makes them available to the public.
The adoption of IFRS 19 therefore allows for a simplification of disclosure requirements, without any effect on the recognition, measurement, or presentation of transactions. As the Group's shares are publicly traded, the Group is not eligible to apply IFRS 19.
Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Presentation Currency The amendments to IAS 21 provide clarifications regarding the assessment of a currency’s exchangeability and the methods for determining the end-of-period exchange rate in cases where such exchangeability is lacking.
Specifically, the standard specifies th e criteria to be applied to determine whether an entity is able to exchange a currency into another currency, and the method to be used to estimate the representative exchange rate where exchangeability is not possible. The amendments also introduce additi onal disclosure requirements that enable users of financial statements to understand the current or prospective impact of non -exchangeable currencies on the company’s financial performance, financial position, and cash flows.
The Group will adopt these new standards, amendments and interpretations, where applicable, on the basis of the expected effective date and following their endorsement by the European Union. An ongoing assessment is being conducted regarding the possible effects of these amendments o n the consolidated financial statements.
42
ANALYSIS OF FINANCIAL RISKS
The financial risks to which the Group is exposed include market risks and, to a lesser extent, credit risk and liquidity risk.
Financial assets/liabilities are broken down by line item and category under IFRS 7 as follows:
(in € thousands) Notes 06/30/2026 12/31/2025
Carrying
amount Assets at
amortized
cost Assets
at fair
value Assets at fair
value with
changes in the
Comprehensive
Income
Statement Carrying
amount Assets at
amortized
cost Assets
at fair
value Assets at fair
value with
changes in the
Comprehensive
Income
Statement
Trade receivables (17) 219,109 215,306 - 3,803 200,702 196,899 - 3,803 Financial derivatives (21) (0) - - (0) 3,164 - - 3,164
Cash
and cash equivalents (19) 120,801 120,801 - - 165,799 165,799 - -
Current financial assets (21) 78 - - - 42,689 - - -
Total current financial assets 339,988 336,107 - 3,803 412,354 362,698 - 6,967 Financial derivatives (21) - - - - - - - -
Total non -current financial assets - - - - - - - -
Total financial assets 339,988 336,107 - 3,803 412,354 362,698 - 6,967
(in € thousands) Notes 06/30/2026 12/31/2025
Carrying
amount Liabilities at
amortized
cost Liabilities
at fair
value Carrying
amount Liabilities at
amortized
cost Liabilities
at fair
value
Liabilities for Put/Call option rights classified in other non -current liabilities (24) 3,926 - 3,926 4,093 - 4,093 Financial lease liabilities (IFRS 16) classified in other non -current liabilities (21) 58,507 58,507 - 57,071 57,071 -
Non-current financial liabilities (21) 733,999 733,999 3,046 476,860 476,860 -
Total non -current financial liabilities 796,431 792,505 6,972 538,024 533,931 4,093 Trade payables (25) 109,551 109,551 - 108,804 108,804 -
Financial lease liabilities (IFRS 16) classified in current financial liabilities (21) 11,007 11,007 - 10,163 10,163 -
Current financial liabilities (21) 159,993 159,993 - 247,070 247,070 -
Financial derivatives (21) 1,748 1,748 311 - 311 Total current financial liabilities 282,299 280,551 1,748 366,347 366,037 311 Total financial liabilities 1,078,730 1,073,056 8,720 904,371 899,968 4,403
With regard to the above, classification of financial assets and liabilities measured at fair value in the statement of financial position, according to the fair value hierarchy, concerned financial derivatives as at 30 June 2026.
These instruments are cl assified at level 2 and recognized within other current and non -current financial liabilities amounting to € 4 ,794 thousand (financial liabilities on IRS contracts amou nting to € 1,046 thousand, non -current financial liabilities amounting to € 2 ,000 thousa nd and liabilities amounting to € 1,748 thousand relating to the fair value of derivatives hedging exchange -rate exposure).
With regard to liabilities for put/call options, the amount refers to the rights envisaged by the Joint Venture contract in China, w hich have been recognised according to IAS 32 and IFRS 9 accounting standards. Specifically, the JV contract, which contains an obligation for the Group to purchase its own equity instruments for cash or other financial assets, gives rise to a financial l iability for the present value of the redemption amount. Such amount is not included in the net financial debt.
Non-current financial liabilities and assets are settled or valued at market rates, so their fair value is consistent with the current carrying amounts .
43 Length of financial liabilities is provided in Note 21.
Risks associated with foreign exchange and interest rate fluctuations The Group operates in countries where the reporting currency is not the Euro and, consequently, it is exposed to the risk related to fluctuations in foreign exchange rates. Revenue is generated in US Dollar (accounting for about 50% of revenue in 2026), th e Chinese Yuan (about 2%) and the Canadian dollar (about 2%).
Any exchange rate fluctuations may have an impact on the Group's income statement, balance sheet and financial position.
With regard to interest rates, the Group is exposed to movements in market interests in relation to a portion of its floating -rate debt. In the first half of 2026, in order to mitigate this risk the Group entered into an interest rate swap agreement (pay fixed, receive floating) for a total notional amount of € 150 million to hedge a portion of the € 250 million loan, reducing the exposure to any increase in interest rates.
Interest expense does not accrue on the convertible bond issued by the Group’s Parent Company. T he Group believes that the overall exposure to risks associated with interest rate fluctuations is appropriately mitigated.
Some Group subsidiaries are located in countries that are not members of the European Monetary Union.
Since the reporting currency i s the euro, the income statements of these companies are translated into euros at the average exchange rate for the year. Consequently, even if revenue and margins were to remain equal when stated in local currency, fluctuations in exchange rates could ha ve an impact on the euro amount of revenue, expenses and operating results due to the translation into the consolidation currency. Assuming a 5% change in the exchange rates of all the currencies used by the Group, the impact on the operating result would be of about € 3 million.
The euro amount attributed to assets and liabilities of consolidated companies that use reporting currencies different from the euro could vary as a result of changes in exchange rates. As required by the accounting standards adopted by the company, these changes are recognized directly in equity by posting them to the "currency translation reserve". A 5% change in all foreign exchange rates would have an impact of about € 85 million on the currency translation reser ve.
In order to mitigate the foreign exchange risk related to currency fluctuations, the Group executed currency forward sales requiring the recognition of a net negative fair value of € 1 ,748 thousand as at 30 June 2026 (negative by € 331 thousand as at 31 December 2025).
Credit risk
In certain emerging countries, limited financial liquidity of local customers may result in gaps between the contractual payment terms and the collection terms. Impairment losses on receivables are recognized through the simplified approach required under IFRS 9, using a provision matrix which is estimated on the basis of historical loss experience combined with outlooks on future economic conditions.
Impairment losses on receivables are recognized through the simplified approach required by IFRS 9 to measure loss allowance through lifetime expected credit loss. Specifically, the Group calculates expected cre dit loss using a provision matrix which is estimated on the basis of historical credit loss experience for past due receivables and is adjusted to reflect current conditions and estimates on relevant future economic conditions.
44 Liquidity risk and risks associated with funding requirements A prudent cash management strategy includes maintaining sufficient cash, readily available assets and credit facilities to meet immediate liquidity needs . Cash flows, funding needs and liquidit y are monitored and managed centrally, in order to ensure timely access to funding sources and an adequate employment of the liquidity available.
Management believes that the funds and credit facilities currently available, when combined with the resources generated by operating and financing activities, will enable the Group to meet the obligations resulting from its capital investment programs, working capital requirements and the need to repay its indebtedness upon maturity.
As at 30 June 2026, cash and cash equivalent s amounted to € 120 ,801 thousand.
Borrowings from banks and other lenders consisted of:
• Diasorin S.p.A.’s bank loan amounting to € 250 ,000 thousand with a five -year maturity;
• Convertible bond amounting to € 481 ,767 thousand;
• Short -term bank borrowings relating to Diasorin S.p.A. for an amount of € 70,117 and relating to the Chinese subsidiary for an amount of € 23,776 thousand;
• The new credit facility entered into by Diasorin Inc. for a total amount of USD 75 ,000 th ousand, available as at 30 June 2026 to support its subsidiary's funding needs;
• In the interim reporting period , the Company fully repaid the loan entered into by Diasorin Inc. in 2021 to finance the acquisition of Luminex.
A breakdown of the net consolidated financial debt is as follows :
(in € thousands) 06/30/2026 12/31/2025 Change A Cash on hand 120,801 165,799 (44,998) B Cash equivalents - - -
C Other current financial assets 78 42,689 (42,612) D Liquidity (A+B+C) 120,879 208,488 (87,609) E Current financial debt (including debt instruments, but excluding the current portion of non -current financial debt) 172,748 44,477 128,271 F Current portion of non -current financial debt - 213,067 (213,067) G Current financial debt (E+F) 172,748 257,544 (84,796) H Net current financial debt (G -D) 51,869 49,056 2,813 I Non-current financial debt (excluding the current portion and debt instruments) 310,738 53,907 256,831 J Debt instruments 481,767 476,860 4,907 K Trade payables and other non -current debts - - -
L Non-current financial debt (I+J+K) 792,506 530,767 261,738 M Total financial debt (H+L) 844,375 579,823 264,552
Risks associated with general economic condition The Group’s economic, financial and operating position is affected by macroeconomic and geopolitical factors beyond the Company’s control.
The products distributed by Diasorin are part of basic medical care coverage, which is m ainly funded by national health services or private insurance companies. In some countries where the Group operates, questioning the costs of the public welfare system can lead to increased pressure to reduce healthcare reimbursement and, in some cases, lo wer the volume of laboratory tests ordered by physicians.
45 This may have an impact on the market where Diasorin operates, even though diagnostics accounts for only a marginal portion of overall healthcare expenditure and increased use of diagnostic tests su pports prevention and reduces the need for more invasive treatments, ultimately contributing to cost savings for healthcare systems.
The macroeconomic climate continues to be marked by uncertainty related to the evolution of geopolitical tensions, internat ional trade policies and inflationary pressures. These elements may continue to affect the Group's manufacturing and procurement costs. Any increase in operating costs may not be fully transferred to customers through price adjustments and may potentially result in pressure on margins. As at the date of this Report, these factors have not had a material impact on Group’s results.
Risks associated with the Group’s international presence and expansion The Group operates in several countries, including emerging markets that may be affected by economic, political and social instability. Current geopolitical tensions and conflicts in some areas, such as Ukraine and the Middle East, fuel global uncertainty.
In the first half of 2026, the escalati on of the conflict in the Middle East heightened volatility in energy markets, resulting in a sharp increase in oil prices and growing risks related to freight logistics. The Group does not anticipate any material impacts arising from the military conflict in the Middle East in the current reporting year.
Developments in the relevant environment are being closely monitored.
In countries where it does not operate through subsidiaries, Diasorin uses independent distributors to sell its products. As a rule, t hese distributors are small or medium -sized companies. This model entails risks related to the financial stability of local partners that may impact both their growth potential and their insolvency risk.
The Group monitors the evolution of the regulations on trade restrictions or tariff measures adopted, as well as potential statutory reimbursements in certain countries, including the United States, on diagnostic products or raw materials used in manufacturing processes. At the moment, the tariff measures announced or introduced have no material impact on the Group's operations.
Climate and environmental risks The Group is not exposed to any significant climate or environmental risks, given the sector and industry in which it operates.
46
SEGMENT INFORMATION
In accordance with IFRS 8, the Company designated the geographic regions where it operates as its operating segments.
The Group’s organization and internal management structure, and its performance analysis and internal reporting system are structured on a geographical basis and according to the following sectors: Italy and U.K. Branch, Europe (Germany, France, Belgium and the Netherlands, Spain and Portugal, Ireland, Austria, Great Britain, Scandinavia, Czech Republic, Slovakia, Switzerland , Poland and Greece ), North America (United States and Canada) and Rest of the World (Brazil, Mexico, Israel, China, Australia, India, and South Africa).
The Group is characterized by an organization of its commercial structure by geographic regions, which was adopted to accommodate the Group’s geographic expansion and strategic initiatives. The structure of this organization reflects the destination of the Group’s sales, dividing the sales areas into four regions: Europe and Africa, North Ame rica, Latin America, Asia Pacific and China.
As a result of the above, the communication of the financial data of the Diasorin Group to the financial markets and the investing public is carried out to show revenue data aligned with its organization by regi ons.
The schedules that follow show the Group’s operating and financial data broken down by geographic region identifying, as required by IFRS, 8 paragraph 5:
● activities generating revenue and expenses (including revenue and expenses relating to transactio ns with other components of the same entity);
● operating results that are regularly reviewed by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance; and ● discrete financial i nformation about assets, liabilities, revenue and expenses.
No unallocated common costs are shown in the abovementioned schedules as each country and hence each segment, is equipped with comprehensive independent organizations (sales, technical support and accounting) fully capable of exercising its functions. Moreover, Italy segment invoices each quarter to the other segments the activities costs that are incurred centrally by the corporate structure to support Group’s companies.
Eliminations refer primar ily to inter -segment margins that are eliminated at consolidation. Specifically, the elimination of the margin earned by Italy segment through the sale of equipment to other segments is carried out both at the result and investment levels. The margin gene rated by products sold by the manufacturing locations to the commercial branches but not yet sold to outsiders is eliminated only at the result level.
Segment assets include all operating items (non -current assets, receivables and inventory) but not tax -related items (deferred -tax assets) and financial assets, which are shown at Group level.
The same approach was used for segment liabilities, which include operating items (mainly trade payables and amounts owed to employees) but do not include financial and tax liabilities or equity, which are shown at Group level.
47
ITALY EUROPE NORTH AMERICA REST OF THE WORLD ELIMINATIONS CONSOLIDATED
(in € thousands) 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025 2026 2025
INCOME STATEMENT
Revenue from customers 92,682 93,823 152,546 150,340 308,366 326,909 48,021 48,200 - - 601,615 619,272 Inter-segment revenue 165,459 156,515 12,011 10,504 70,058 69,086 - 47 (247,528) (236,152) - -
Total revenue 258,141 250,338 164,557 160,844 378,424 395,995 48,021 48,247 (247,528) (236,152) 601,615 619,272 Segment revenue 54,983 37,428 13,607 23,047 65,413 91,413 784 (136) (9,733) (13,554) 125,054 138,198 Unallocated common costs - -
Operating Margin 125,054 138,198 Other net income (expense) - -
Financial income/(expense) (13,546) (6,751) Profit before taxes 111,506 131,447 Income taxes (27,752) (32,712) Net profit 83,755 98,735
OTHER INFORMATION
Investments in intangible assets 10,362 12,690 22 14 11,730 22,949 255 1,809 - - 22,369 37,462 Investments in prop. plant and equip. 11,821 7,983 9,025 4,421 16,945 14,481 1,548 1,953 (950) (1,101) 38,389 27,737 Total investments 22,183 20,673 9,047 4,435 28,675 37,430 1,803 3,762 (950) (1,101) 60,758 65,199
Amortization in intangible assets (6,147) (5,817) (3,359) (3,498) (29,232) (31,048) (436) (566) 2,499 2,481 (36,675) (38,448) Depreciation of prop. plant and equip. (8,114) (7,629) (5,014) (4,977) (13,608) (12,987) (1,905) (2,526) 922 1,049 (27,719) (27,070) Total amortization and depreciation (14,261) (13,446) (8,373) (8,475) (42,840) (44,035) (2,341) (3,092) 3,421 3,530 (64,394) (65,518)
48 (in € thousands)
ITALY EUROPE NORTH AMERICA REST OF THE WORLD ELIMINATIONS CONSOLIDATED
06/30/2026 12/31/2025 06/30/2026 12/31/2025 06/30/2026 12/31/2025 06/30/2026 12/31/2025 06/30/2026 12/31/2025 06/30/2026 12/31/2025
STATEMENT OF FINANCIAL POSITION
Segment assets 674,045 646,933 184,634 168,365 2,181,856 2,104,597 71,606 64,786 (377,102) (360,051) 2,735,039 2,624,631 Unallocated assets 160,095 248,532 Total assets 674,045 646,933 184,634 168,365 2,181,856 2,104,597 71,606 64,786 (377,102) (360,051) 2,895,133 2,873,163
Segment liabilities 201,364 187,407 115,041 119,943 236,726 240,978 37,914 36,056 (313,005) (302,524) 278,040 281,860 Unallocated liabilities 1,201,422 1,014,499 Equity 1,415,672 1,576,805 Total liabilities 201,364 187,407 115,041 119,943 236,726 240,978 37,914 36,056 (313,005) (302,524) 2,895,133 2,873,163
Interim Financial Report 2026
49 Descriptions and main changes Consolidated income statement
1. Revenue
In the first half of 2026, revenue totalled € 601 ,615 thousand (€ 619 ,272 thousand in the first half of 2025), down 2.8% compared to the previous year and refer mainly to the sale of diagnostic kits.
A breakdown of revenue by customer location in outlet markets is provided below:
(in € thousands) 1st half 2026 1st half 2025 % Change Europe direct 221,578 218,082 1.6% North America direct 295,438 313,175 -5.7% Rest of the World1 84,599 88,016 -3.9% Total revenue 601,615 619,272 -2.9% 1. The Rest of the World includes sales in markets where the Group does not operate through a direct presence ( i.e., through a commercia l branch).
2. Cost of sales In the first half of 2026, cost of sales amounted to € 212 ,226 thousand , as against € 213 ,357 thousand in the first half of 2025. The item includes, in addition to costs for diagnostic kits production, royalties expense amounting to € 27,810 thousand (€ 26 ,063 thousand in the first half of 2025), costs incurred to distribute p roducts to end customers totalling € 8 .320 thousand (€ 7 ,996 thousand in the first half of 2025) and depreciation of Group’s equipment held by customers equal to € 9 ,569 thousand (€ 8,883 thousand in the first half of 2025) .
3. Sales and marketing expense s In the first half of 2026, sales and marketing expenses amounted to € 147 ,470 thousand , as against € 142 ,467 thousand in the same period in 2025. This item consists mainly of marketing costs incurred to promote and distribute Diasorin products, costs attributable to direct and indirect sales force and cost of technical support offered together with the Group -owned equipment provided to customers.
Amortizations of intangible assets deriving from the acquisition of Luminex were € 18 ,590 thousand , as against € 18,964 thousand in 2025.
4. Research and development costs In the first half of 2026, research and development costs, which totalled € 46 ,772 thousand (€ 47 ,205 thousand in the first half of 2025), include the research and development outlays that were not capitalized, equal to € 21 ,834 thousand (€ 20 ,065 thousand in the first half of 2025), costs incurred to register the products offered for sale and meet quality requirements totalling € 13 ,803 thousand (€ 16 ,473 thousand in the first half of 2025) and the amortization of capitalized development costs equal to € 11 ,135 thousand (€ 10 ,667 thousand in the first half of 2025). In the first half of 2026, the Group capitalized development costs amounting to € 20 ,763 thousand, as against € 34 ,313 thousand in the first half of 2025.
Interim Financial Report 2026
50 5. General and administrative expenses General and administrative expenses, which include expenses incurred for corporate management activities, Group administration, finance and control, information technology, corpor ate organization and insurance, were € 61,141 thousand in the first half of 2026 (€ 61 ,387 thousand in the first half of 2025).
6. Other operating (expense) and income A breakdown of other operating income and expense in the first half of 2026 is as follows:
(in € thousands) 2026 2025 Tax charges (764) (888) Provisions and releases (1,528) (1,073) Other operating (expense) and income (2,213) (4,570) Non-recurring expense s- other (4,448) (10,127) Other operating (expense) and income (8,952) (16,658)
The item Other operating (expense) and income include income and expense from ordinary operations that cannot be allocated to specific functional areas (such as gains and losses on asset sales, government grants, insurance settlements, reversals of excess provisions and incidental taxes and fees). The items above include, among others, the contributions paid to the “Fondazione Diasorin ETS” and the Contribution to the Fund for the Governance of Medical Devices as established by the decree of the Ministry of Health o n 29 December 2023.
Non-recurring expense s include one -off costs for the integration and restructuring of Luminex and restructuring costs related to other Group companies.
7. Financial income In the first half of 2026, the Group’s financial income amounte d to € 3 ,145 thousand (€ 5 ,633 thousand in the first half of 2025), mainly resulting from interest income accrued on instruments to manage the company's liquidity denominated in U.S. dollars and exchange differences arising from the management of liquidity in currencies other than the Euro.
8. Financial expense s Financial expenses are detailed in the table below:
(in € thousands) 2026 2025 Change Factoring transactions fees (286) (627) 341 Interest expenses and other financial expenses (15,788) (11,231) (4,557) including: interest expense on leases (1,908) (2,076) 168 Interest s on pension funds (617) (526) (91) Total financial expenses (16,691) (12,384) (4,307) In the first half of 2026, financial expenses amounted to € 1 6,691 thousand, as against € 12 ,384 thousand in the first half of 2025.
Interest expenses and other financial expenses include:
Interim Financial Report 2026
51 ● € 4,907 thousand in financial expenses at amortized cost relating to the convertible bond issued by the Group’s Parent Company (€ 4 ,808 in the first half of 2025);
● € 2,549 thousand in interest expenses on the new Term Loan entered into by the Group’s Parent
Company;
● € 1,908 thousand in interest expenses on leases recognized und er the IFRS16 accounting standard (€ 2,076 thousand in the first half of 2025);
● € 1,889 thousand in bank account fees (€ 1 ,332 thousand in the first half of 2025);
● € 698 thousand in financial expenses relating to the new credit facility entered into by the U.S. subsidiary;
● € 326 thousand for the negative change in the ineffective Mark -to-Market component of the IRS derivative to hedge the Term Loan taken out for financing the Luminex acquisition.
9. Income taxes Income taxes recognized in the income statement amounted to € 27 ,752 thousand in the first half of 2026 (€ 32,712 thousand in the first half of 2025). The tax rate of the period was 25%, in line with the first half of 2025 (25%).
Global Minimum Tax The global minimum tax regime for global multinational enterprises (the so -called "Global Minimum Tax), as set out by the OECD/G20 agreement and transposed into EU law by Directive (EU) 2022/2523, was introduced in Italy by Legislative Decree No. 209 of 27 December 2023 and subsequent implementing decrees, effective from tax year 2024.
The Global Minimum Tax is a coordinated set of rules ensuring that corporate groups with consolidated revenue exceeding €750 million are subject to a minimum effective tax r ate of 15% in each jurisdiction where they operate, through the application — where necessary — of a Top -up Tax.
The Diasorin Group is subject to the Global Minimum Tax framework, having exceeded the relevant quantitative thresholds.
The regime under re view provides for simplified transitional regimes (transitional safe harbours), established within the OECD framework to substantially streamline the application rules during the 2024 -2026 transitional period (recently extended by one year until 2027).
Under the transitional regimes, the top -up tax for a specific jurisdiction and year is set at zero if the local entities satisfy certain criteria. The safe harbour applies if at least one of the three tests is satisfied ('Simplified Effective Tax Rate', 'Ro utine Profits', or 'Transitional De Minimis'), using data mainly sourced from the Country -by-Country Report filed by the Parent Company.
The Diasorin Group assessed its potential exposure to the top -up tax and the analyses carried out show no material imp act, as the Group benefits from the simplified transitional regimes in almost all its operating jurisdictions; meanwhile, no material amounts payable have been identified in th ose few countries where an analytical calculation was required.
As from 2024, the Diasorin Group has applied the exception to the recognition and disclosure of deferred tax assets and liabilities related to Pillar Two income taxes, as provided for in parag raph 4A of IAS 12.
10. Earnings per share Basic earnings per share amounted to € 1 .68 in the first half of 2026 (€ 1 .83 in the first half of 2025) and diluted earnings per share amounted to € 1 .69 (€ 1 .81 in the first half of 2025). Basic earnings per shar es were computed by dividing the net profit attributable to the shareholders by the weighted average number of shares outstanding during the year, equal to 55 ,948,257 as at 30 June 2026 and in the first half of 2025.
Interim Financial Report 2026
52 The dilutive effect of stock option plans granted by Diasorin S.p.A. is determined by including tranches granted at a lower price than the average price of Diasorin ordinary shares in the first half of 2026.
Consolidated statement of financial position
11. Property, plant and equipment In the first half of 2026, changes that occurred in the original cost of property, plant and equipment were as follows:
(in € thousands) At 31
Decembe
r 2025 Addition
s Depreciation
s Translation
differences Divestmen
ts Reclassificatio
ns and other
changes Business
combination
s At 30
June
2026
Land 4,876 - - 87 - - - 4,963 Buildings 29,427 584 (1,105) 585 - 449 20 29,960 Plant and machinery 23,026 1,137 (2,161) 271 - 119 - 22,392 Manufacturing and distribution equipment 67,786 18,080 (15,099) 1,875 (822) 18,044 1,586 91,450 Other assets 34,994 2,635 (3,015) 886 17 4,254 7 39,778 Advances and tangible in progress 32,971 10,631 - 435 (1) (23,796) - 20,240 IFRS 16 rights of use 62,772 5,322 (6,339) 1,462 (385) 642 - 63,474 Total property, plant and equipment 255,853 38,389 (27,719) 5,601 (1,191) (288) 1,613 272,257
Additions to manufacturing and distribution equipment include equipment provided to customers, amounting to € 14,520 thousand in the first half of 2026 (€ 27 ,385 thousand as at 31 December 2025). Depreciation for equipment provided to customers were € 9 ,569 thousand (€ 19 ,619 thousand as at 31 December 2025).
Advances and tangibles in progress were € 20 ,240 thousand as at 30 June 2026 (€ 32 ,971 thousand as at 31 December 2025) and include advances on plant and machinery, equipment and leasehold improvements. The increase in advances refer to investments aimed at strengthening the Group production capacity, upgrading the technology of production facility and streamlining the oper ating processes.
Tangible assets include “Right -of-use Assets” for a total amount of € 63 ,474 thousand as at 30 June 2026 (€ 62,772 thousand as at 31 December 2025). The item includes right -of-use assets relating to leased property and industrial buildings , amounting to € 53 ,830 thousand (€ 53 ,764 thousand as at 31 December 2025), as well as right-of-use assets relating to company vehicles rentals amounting to € 9 ,644 thousand as at 30 June 2026 (€ 9,008 thousand as at 31 December 2025).
In the fourth quarter of 2025, Diasorin launched a project aimed at reorganising operations at the Chinese subsidiary , with completion expected by the end of 2026. As part of the project’s execution, the 2025 accounts include charges of around Euro 20 million, mainly du e to the write -down of assets at the production facility. Compared to 2025, certain property, plants and equipment have been identified and reintegrated at the Ita lian site and their impact , amounting to approximately € 1 million , has been recognized unde r “Reclassifications and other changes”.
Lastly, the item "Business combinations " includes the impact arising from the acquisition of BIOKOSMOS MORIAKI S.A. (now Diasorin Greece S.A.), a Greek distributor of Diasorin and Qiagen products. For further details, reference should be made to the relevant paragraph ("Business combinations").
Interim Financial Report 2026
53 12. Goodwill and other intangible assets Goodwill amounted to € 780 ,145 thousand as at 30 June 2026 (€ 754 ,152 thousand as at 31 December 2025), increasing by € 25 ,993 thousand due to exchange rate fluctuations and the acquisition of the Greek distributor described above.
The table below provides a breakdown of changes in the net carrying amount of goodwill and other intangible assets in the first half of 2026:
(in € thousands) At 31
December
2025 Additions Amortizations Translations differences Divestments Reclassifications
and other
changes Business
Combinations At 30
June
2026
Goodwill 754,152 - - 22,293 - - 3,700 780,145 Development costs 392,693 20,763 (11,135) 9,497 (788) (1,535) - 409,495 Concessions, licenses and trademarks 79,999 473 (651) (1,853) 39 2,814 - 80,821 Customer relationship 540,286 - (24,650) 19,801 - - - 535,437 Industrial patents and intellectual property rights 1,970 166 (196) 19 - 469 - 2,428 Advances and other intangible assets 20,853 967 (43) 228 (63) (2,782) 7 19,167 Total intangible assets 1,789,953 22,369 (36,675) 49,985 (812) (1,034) 3,707 1,827,493
Goodwill is allocated to the following CGUs:
● € 720 ,336 thousand to Diasorin North America CGU;
● € 46,432 thousand to CGU Diasorin Italy CGU;
● € 6,840 thousand to Diasorin Germany CGU;
● € 3,700 thousand to Diasorin Greece CGU;
● € 2,061 thousand to Diasorin Brazil CGU;
● € 765 thousand to Diasorin Benelux CGU.
In the first half of 2026, capitalized development costs were € 20 ,763 thousand and related to the development of the LIAISON PLEX and LIAISON NES projects.
Based on the information currently available, the company Management did not identify indicators of potential impairment of assets and therefore no impairment test was carried out for intangible assets with both indefinite and definite useful life.
The company Management will update its assessments through an impairment test that will be developed durin g the preparation of the annual financial statements as at 31 December 2026.
13. Equity investments Non-consolidated equity investments totalled € 26 thousand as at 30 June 2026 and refer to shares in non -
controlled companies. No changes occurred compared to the previous year and no indicators of impairment were identified.
14. Deferred tax assets and deferred -tax liabilities Deferred tax assets amounted to € 39 ,189 thousand as at 30 June 2026 (€ 36 ,854 thousand as at 31 December 2025).
Interim Financial Report 2026
54 Deferred tax liabilities, which totalled € 203 ,596 thousand as at 30 June 2026 (€ 196 ,482 thousand as at 31 December 2025) are included within liabilities in the balance sheet. The balance consists of the recognition of deferred tax liabilities relating to temporary differences attributable to assets and liabilities of the Luminex Group for € 168 ,997 thousand (€ 161 ,571 thousand as at 31 December 2025).
The balance also reflects the net deferred tax assets computed from the eliminatio n of unrealized gains on intra -
Group transactions and on temporary differences between the assets and liabilities amounts used to prepare the consolidated financial statements and the corresponding amounts used by the consolidated Companies for tax purpos es.
Deferred tax assets were recognized in the financial statements to the extent that their future recovery was considered probable, based on Group’s Management multi -year forecasts. The same approach was used to recognize the benefit arising from the use of tax loss es.
An analysis of deferred tax assets, net of deferred tax liabilities where they can be offset , is provided below:
(in € thousands) 06/30/2026 12/31/2025 Deferred tax assets 39,189 36,854 Deferred tax liabilities (203,596) (196,482) Total net deferred tax assets (liabilities) (164,407) (159,628)
In accordance with IAS 12, the Group recognized deferred -tax assets amounting to € 10 ,555 thousand relating to lease liabilities (IFRS 16), and deferred tax liabilities amounting to € 8 ,678 and relating to rights of use.
15. Other non -current assets Other non -current assets amounted to € 3 ,963 thousand as at 30 June 2026 (€ 5 ,384 thousand as at 31 December 2025). They consist mainly of receivables from the Parent Company and the Italian, Brazilian, Chinese and U.S.
subsidiaries due beyond 12 months and relating to tax and operating activities.
Interim Financial Report 2026
55 16. Inventories A breakdown of inventories, which totalled € 369 ,009 thousand, is provided below:
(in € thousands) 06/30/2026 12/31/2025 Gross amount Write -down
allowances Net
amount Gross
amount Write -
down
allowances Net
amount
Raw materials and supplies 151,137 (10,418) 140,719 142,644 (10,793) 131,850 Work in progress 92,513 (5,280) 87,233 86,819 (8,170) 78,649 Finished goods 145,692 (4,635) 141,057 129,835 (5,730) 124,105 Total 389,342 (20,333) 369,009 359,298 (24,693) 334,604
Inventories increased by € 34 ,405 thousand compared to 31 December 2025 . The increase was due to a positive exchange rate effect equal to € 6 ,970 thousand and to an increase in inventories by € 27 ,436 thousand relating to materials for instruments and reagents manufacturing aimed at new product launches.
The table below shows the changes that occurred in the allowance for inventory write -downs :
(in € thousands) 06/30/2026 12/31/2025 Opening balance 24,693 32,064 Additions for the period (3,354) 11,064 Utilizations/reversals for the period (1,587) (16,417) Translation differences and other changes 581 (2,017) Closing balance 20,333 24,693
17. Trade receivables Trade receivables were € 219 ,109 thousand as at 30 June 2026 (€ 200 ,702 thousand as at 31 December 2025).
The allowance for doubtful accounts amounted to € 12 ,586 thousand. The table that follows shows the changes compared to 31 December 2025:
(in € thousands) 06/30/2026 12/31/2025 Opening balance 11,256 11,426 Additions for the period 1,217 1,353 Utilizations/reversals for the period (268) (1,186) Translation differences and other changes 381 (337) Closing balance 12,586 11,256
In order to bridge the gap between contractual payment terms and actual collection terms, the Group uses factoring transactions to assign its receivables without recourse. In the first half of 2026, trade receivables factored by the Italian subsidiary amounted to € 1 2,029 thousand (€ 35 ,658 thousand as at 31 December 2025).
Interim Financial Report 2026
56 18. Other current assets Other current assets amounted to € 43 ,208 thousand as at 30 June 2026 (€ 38 ,135 thousand as at 31 December 2025) and include mainly advance payments on direct taxes for € 17,326 thousand related to IRES and IRAP tax receivables held by the Group’s Parent company and its Italian subsidiary.
19. Cash and cash equivalents Cash and cash equivalents amounted to € 120 ,801 thousand as at 30 June 2026 (€ 165 ,799 thousand as at 31 December 2025). They consist of ordinary bank accounts and similar money market instruments. More detailed information is provided in the Statement of Cash Flows.
20. Shareholders’ equity
Share capital
As at 30 June 2026, the fully paid -in share capital consisted of 55,948,257 common shares, par value of € 1 each.
No changes occurred compared to 31 December 2025 .
Treasury shares
As at 30 June 2026, the amount of treasury shares was 6 ,449,018, equal to 11 .53% of the share capital, totalling € 571 ,090 thousand (€ 343 ,302 thousand as at 31 December 2025).
The increase of € 227 ,788 compared to 31 December 2025 refers to € 232 ,755 thousand in connection with the share buy -back programme offset by the award of a fourth tranche of shares under the 2022 equity plan, a third tranche of shares under the 2023 equity plan, a second tranche of shares under the 2024 equity plan and a first tranche of shares under the 2025 equity plan for an amount equal to € 4 ,967 thousand.
Additional paid -in capital This reserve amounted to € 18,155 thousand as at 30 June 2026 and no changes occurred compared to 31 December 2025.
Statutory reserve
This reserve amounted to € 11,190 thousand and no changes occurred compared to 31 Decembe r 2025, as it has already reached 20% of the share capital.
Interim Financial Report 2026
57 Other reserves and retained earnings The item is broken down as follows:
(in € thousands) 06/30/2026 12/31/2025 Change Currency translation reserve 11,861 (39,003) 50,864 Reserve for treasury shares 571,090 343,302 227,788 Stock option reserve 22,913 26,693 (3,780) Gains/(losses) on remeasurement of defined benefit plans (3,881) (3,881) -
Retained earnings 1,608,232 1,517,343 90,889 IFRS transition reserve (3,979) (3,979) -
Other reserves (381,309) (153,596) (227,712) Total Other reserves and retained earnings 1,824,927 1,686,878 138,049 Currency translation reserve The currency translation reserve was positive by € 11 ,861 thousand (positive by € 39 ,003 thousand as at 31 December 2025) and reflects the foreign exchange differences resulting from the translation at year -end exchange rates of the shareholders’ equities of consolidated companies with financial statements denominated in foreign currencies. The positive cha nge of € 50 ,864 thousand was due to the fluctuation of the US dollar exchange rate vis-à-vis the Euro.
Reserve for treasury shares As at 30 June 2026, the reserve for treasury shares amounted to € 571 ,090 thousand (€ 343 ,302 thousand as at 31 December 202 5). In the first half of 2026, the reserve reflects the net effect deriving from the share buy -back programme and the award of a fourth tranche of shares under the 2022 equity plan, a third tranche of shares under the 2023 equity plan, a second tranche of shares under the 2024 equity plan and a first tranche of shares under the 2025 equity plan for an amount equal to € 4 ,967 thousand.
Stock option reserve The balance in the stock option reserve, which amounted to € 22,913 thousand as at 30 June 2026 (€ 26 ,693 thousand as at 31 December 2025) refers to the stock option plans as at 30 June 2026.
The decrease (€ 3 ,780 thousand) in the reserve was due to the recognition of the overall cost of the period recognized in general and administrative expenses under employee costs, and to the exercises of stock options and the award of a fourth tranche of shares under the 2022 Equity Plan, a third tranche of shares under the 2023 Equity Plan, a second tranche of shares under the 2024 Equity Plan and a first tranche of shares under the 2025 Equity Plan.
Gains/(losses) on remeasurement of defined benefit plans The reserve has a negative balance of € 3 ,881 thousand as at 30 June 2026 and no change occurred compare d to 31 December 2025.
Retained earnings
Retained earnings amounted to € 1,608,232 thousand as at 30 June 2026 (€ 1 ,517,343 thousand as at 31 December 2025). The change of € 90 ,889 thousand compared to December 31, 2025, is due to:
● appropriation of consolidated profit for the year 2025 (€ 15 5,624 thousand);
● distribution of ordinary dividends amounting to € 64 ,735 thousand and approved by the Shareholders' Meeting on 29 April 2026 (equal to € 1 .30 per share).
Interim Financial Report 2026
58 IFRS transition reserve The IFRS transition reserve was established on 1 January 2005, upon adoption of the IFRS as an offset to the adjustments recognized to make the financial statements prepared in accordance with Italian accounting standards consistent with IFRS requirements, net of the applicable tax effect (as required by and in accordance with IFRS 1). This reserve has not changed since its establishment.
Other reserves
The item, negative by € 381 ,308 thousand, posted a negative change of € 227 ,712 thousand compared to 31 December 2025, as a result of the current treasury share buy -back program and the equity portion relating to the cash flow hedge reserve, equal to € 3 ,885 thousand. This change was due to the award of tranches of shares under the 2022, 2023, 2024 and 2025 equity plans described above.
21. Financial Assets and Liabilities Financial liabilities amounted to € 172,749 thousand as at 30 June 2026 as against financial assets amounting to € 7 8 thousand, as detailed below (amounts in thousands):
Type of financial liability Current portion Non-
current
portion Total
Convertible Bonds issued by Diasorin S.p.A. - 481,767 481,767 IFRS 16 lease payables 11,007 58,507 69,514 Revolving Credit Facilities 159,301 - 159,301 Term Loan entered into by Diasorin S .p.A. - 248,910 248,910 Hedging derivatives - 1,046 1,046 Other financial liabilities 2,439 2,275 4,714 Total financial liabilities 172,749 792,505 965,254 Diasorin Inc.'s cash investments 78 - 78 Total financial assets 78 - 78 Total net financial assets/(liabilities) 172,670 792,505 965,176
The table below lists the changes that occurred in financial assets and liabilities at the date of this Report (amounts in thousands of euros) compared to 31 December 2025:
Interim Financial Report 2026
59 Type of financial liability At 31
December
2025 Additions Repayments Interests
accrued
and
amortized
cost Translation
differences
and other
changes Business
combinations At 30
June
2026
Term Loan granted to DiaSorin Inc. 213,067 - (215,892) 1,292 1,534 - -
Convertible Bonds issued by Diasorin S.p.A. 476,860 - - 4,907 - - 481,767 Term Loan entered into by Diasorin
S.p.A. - 250,000 - (1,090) - - 248,910
Lease liabilities (IFRS 16) 67,234 6,041 (5,756) 1,683 312 69,514 Revolving Credit Facility 34,004 122,415 - 2,883 - 159,301 Hedging derivatives - 1,046 - - - - 1,046 Other current financial liabilities 311 4,403 - - - - 4,714 Total financial liabilities 791,475 383,905 (221,648) 5,109 6,100 312 965,254 Hedging derivatives 3,164 - (3,187) - 23 - -
Diasorin Inc.'s cash investments 42,689 - (42,921) - 309 - 78 Total financial assets 45,853 - (46,107) - 332 - 78 Total net financial liabilities 745,622 383,905 (175,541) 5,109 5,768 312 965,176
Compared to the balance as at 31 December 2025, financial liabilities include the repayment of the last two instalments of the Term Loan, amounting to USD 250,000 thousand:
- USD 50,000 thousand in January 2026;
- USD 200,000 thousand in April 2026.
The “Revolving Credit Facility” due 2028 and renewed in 2025 by Diasorin S.p.A. was drawn down by € 70 ,117 thousand as at 30 June 2026.
In 2023, Deutsche Bank and Bank of America granted a credit facility to the Chinese subsidiary that used € 23,776 thousand of this facility as at 30 June 2026.
As at 30 June 2026, Diasorin Inc for. entered into a new Credit Facility for a total amount of USD 75 ,000,000, to support its subsidiary's funding needs;
The Term Loan granted to Diasorin S.p.A. was drawn down by € 250 ,000 thousand to support the treasury share buy-back program.
As at 30 June 2026, IFRS 16 lease liabilities were € 69 ,514 thousand.
Other financial liabilities include the outstanding debt of the Parent Company for the acquisition of the Gre ek distributor Biokosmos Moriaki S.A. (now Diasorin Greece S.A.), amounting to € 2 ,000 thousand .
22. Provisions for employee benefits The balance in this account reflects all of the Company’s pension plan obligations, other post -employment benefits and ben efits payable to employees when certain requirements are met. The Group’s companies provide post -
employment benefits to its employees both through contributions to funds outside the Group and through defined -
contribution and/or defined -benefit plans.
The manner in which these benefits are provided varies depending on the applicable statutory, tax -related and economic conditions in the countries where the Group’s companies operate. As a rule, benefits are based on each employee’s level of compensation a nd years of service.
Interim Financial Report 2026
60 Defined -contribution plans The Group pays contributions to private funds or insurance companies pursuant to a statutory or contractual obligation or on a voluntary basis. With the payment of these contributions, companies absolve all of their obligations. The liability for contributions payable is included under “Other current liabilities”. The cost attributable to each year, which accrues based on the services provided by employees, is recognized as a “Labor cost” of the relevant org anizational unit.
Defined -benefit plans The Group’s pension plans that qualify as defined -benefit plans include the provisions for employee severance indemnities in Italy, the “Alecta” system in Sweden and the “U -Kasse” pension plan and the “Direct Covena nt” system in Germany.
The liability owed under these plans is recognized at its actuarial value using the “projected unit credit method”;
actuarial gains and losses resulting from the determination of these liabilities are credited or charged to equity in the statement of comprehensive income in the year in which they arise.
Other benefits
The Group also provides its employees with additional long -term benefits, which are paid when employees reach a predetermined length of service. In this case, the value of the liability recognized in the financial statements reflects the probability that these benefits will be paid and the length of time for which they will be paid. The liability owed under this plan is recognized at its actuarial value using the “projec ted unit credit method”.
It should be noted that any resulting actuarial gains or losses recorded on the basis of these employees’ benefits are recognized in the income statement.
The table that follows summarizes the Group’s main employee benefit plans:
Interim Financial Report 2026
61 (in € thousands) 06/30/2026 12/31/2025 Change
Employee benefits
broken down as follows:
- Italy 3,678 3,609 69
- Germany 24,507 24,211 296
- Sweden 1,612 1,684 (72)
- other countries 976 959 17 Total employee benefits 30,772 30,463 309 broken down as follows:
- Defined benefit plans
employee’s severance indemnities 2,088 2,052 36 other defined -benefit plans 26,910 26,705 205 28,999 28,757 242
- Other long -term benefits 1,774 1,706 67
Total employee benefits 30,772 30,463 309
The table below shows the main changes that occurred in the employee benefit plans compared to 31
December 2025:
(in € thousands) Defined -
benefit plans Other benefits Total employee
benefits
Balance at 12/31/2025 28,757 1,706 30,463 Interest cost 613 18 631 Actuarial losses/(gains) recognized in income statement (18) 28 9 Actuarial losses/(gains) from financial assumptions 74 - 74 Actuarial losses/(gains) from demographic changes - - -
Actuarial losses/(gains) from experience - - -
Current service cost 381 51 432 Benefits paid (766) (38) (805) Translation differences and other changes (41) 10 (32) Balance at 06/30/2026 28,998 1,774 30,772
23. Provisions for risks and charges The item amounted to € 24 ,139 thousand as at 30 June 2026 (€ 21 ,671 thousand as at 31 December 2025) and refer to provisions set aside for pending disputes, probable risks, contingent liabilities from business reorganization projects, and provisions for employee severance indemnities and contingent liability for the Payback on medical devices and, although uncertain, they represent the best estimate based on the information currently available.
The table below lists the change in provisions for risks and charges:
Interim Financial Report 2026
62 (in € thousands) 06/30/2026 12/31/2025 Opening balance 21,671 22,726 Provisions for the period 2,302 5,583 Utilizations of /reversals for the period (290) (6,032) Translation differences and other changes 456 (606) Closing balance 24,139 21,671
24. Other non -current liabilities Other non -current liabilities totalled € 7 ,893 thousand as at 30 June 2026, down from the previous year (€ 8 ,019 thousand as at 31 December 2025).
The item includes the recognition of a liability, equal to € 3,926 thousand, relating to the measurement of a long -
term liability arising from put/call option rights under the Joint Venture agreement signed with partners of the Chinese investee company and recognized according to IAS 32 and IFRS 9 accounting stan dards. Specifically, the Joint Venture agreement contains an obligation for the Group to purchase its own equity instruments for cash or other financial asset and gives rise to a financial liability for the present value of the redemption amount.
Referenc e is made to note “20. Shareholders’ equity”.
25. Trade payables As at 30 June 2026, trade payables, which totalled € 109 ,551 thousand (€ 108 ,804 thousand as at 31 December 2025), include amounts owed to external suppliers for the purchase of goods and services. The increase equal to € 747 thousand refers mainly to the Group’s Parent Company and to the North American subsidiaries. There are no amounts due beyond the year.
26. Other current liabilities Other current liabilities were € 105 ,685 thousan d as at 30 June 2026 (€ 112 ,903 thousand as at 31 December 2025) and consist mainly of amounts owed to employees for additional monthly payments, equal to € 37 ,626 thousand (€ 48,027 thousand as at 31 December 2025), other employee -related payables amounting to € 15 ,616 thousand (€ 16,586 thousand as at 31 December 2025), contributions payable to social security and health benefit institutions for a total of € 3 ,912 thousand (€ 6 ,160 thousand as at 31 December 2025).
27. Current tax liabil ities The balance of € 32 ,571 thousand as at 30 June 2026 (€ 26 ,542 thousand as at 31 December 2025) refers to the income tax payables, net of advances paid, and amounts owed for other indirect taxes and fees. The analysis of income taxes is provided in Note 9 .
28. Commitment and contingent liabilities
Guarantees provided
As at 30 June 2026, the guarantees and commitments that the Group provided to third parties totalled € 29 ,829 thousand and include bank sureties in connection with the submission of bids in response to public calls for
Interim Financial Report 2026
63 tenders (€ 28 ,040 thousand), along with de fined -contribution pension plans held by the Swedish subsidiary (€ 1,612 thousand).
Significant commitments and contractual obligations Significant contractual obligations include the agreements executed by Diasorin S.p.A. with Stratec in connection with the development and production of LIAISON XL and LIAISON XS analysers. As to the supply agreement, Diasorin and Stratec signed an agreement according to which Stratec shall manufacture and supply the analysers exclusively to Diasorin. The Group has agreed to purchase a minimum number of instruments. However, the projected commitment is deemed to be significantly lower than the normal level of capital investment that would be required for current or future equipment production. As a result, net invested cap ital is not expected to undergo significant structural changes in the future as a result of this commitment.
Contingent liabilities
The Diasorin Group operates globally. As a result, it is exposed to the risks that arise from the complex laws and regulations that apply to the Group’s commercial and manufacturing activities and from contingent liabilities that are possible but not probable, arising from both commercial and tax matters.
The Group believes that the overall amounts set aside for pendin g legal disputes in the corresponding provision for risks are adequate .
29. Related -party transactions Diasorin S.p.A. engaged on a regular basis in commercial and financial transactions with its subsidiaries, which are also Group companies. These transac tions, which are part of ordinary business operations and are executed on standard market terms, consist of the supply of goods and services, including administrative, information technology, personnel management, assistance and consulting, which produce r eceivables and payables at the end of the year, and financing and cash management transactions, which produce income and expenses. These transactions are eliminated in the consolidation process and, consequently, are not discussed in this section. The inc idence of related -party transactions on the single items of the balance sheet, income statement and cash flows is not material.
The total amount owed to directors and strategic executives recognized in the income statement in the first half of 2026 is equa l to € 3 ,381 thousand (€ 2 ,938 thousand as at 30 June 2025).
The compensation payable to senior managers and eligible employees (key management) is consistent with standard market terms for compensation offered to employees with a similar status.
Interim Financial Report 2026
64 30. Significant events occurred after the interim reporting period and business outlook The Company Management does not report significant events occurred after the interim reporting period and considers the accounting estimates to be appropriate for the preparation of the consolidated interim financial statements as at 30 June 2026.
As regards business outlook, the Management confirms 2026 guidance at 2025 CER as follows:
- TOTAL REVENUE : grow th between ca. +5% and +6%
- ADJUSTED EBITDA MARGIN : equal to ca. 32% - 33%
31. Material non -recurring events and transactions
Pursuant to the ESMA Communication no. 32 -63-1186 of 29 October 2021, no material non -recurring transactions occurred.
32. Transactions resulting from atypical and/or unusual activities
Consistent with Consob Communication no. DEM/6064293 of 28 July 2006, the Group did not carry out atypical and/or unusual transactions as provided by the Communication, which defines as atypical and/or unusual transactions those transactions that, because of their significance/materiality, type of counterparty, purpose, method used to determine the transfer price and timing (close to the end of the year), could give rise to doubts with regard to: the accuracy/completeness of the disclosure provided in the financial statements, conflict of interests, safety of the corporate assets and protection of non -controlling interests.
Interim Financial Report 2026
65 7. Annex I: COMPANIES OF THE DIASORIN GROUP AS AT 30
JUNE 2026
Head office Currency Share capital (*) Net
profit/(loss)
for the year (*) Shareholders’ equity in the
latest
approved
financial
statements (*) Par value per
share or
partnership
interest % interest held directly Number of
shares or
partnership
interests
held
Equity investments consolidated line by line Diasorin Italia S.p.A. Saluggia (Italy) Euro 1,050,000 106,834,812 460,956,412 1 100% 1,000,000 Diasorin S.A/N.V. Bruxelles (Belgium) Euro 1,674,000 3,340,097 2,799,003 6,696 100% 249 Diasorin Ltda San Paolo (Brazil) San
Paolo
(Brazil) 65,547,409 7,822,000 65,861,000 1 100% 65,547,408 Diasorin S.A.S. Unipersonnelle Antony (France) Euro 960,000 -107,006 9,258,043 15.3 100% 62,493 Diasorin Iberia S.A. Madrid (Spain) Euro 1,453,687 -630,243 6,239,621 6.01 100% 241,878 Diasorin Ltd Dartford (United Kingdom) GBP 500 1,192,768 3,354,418 1 100% 500 Diasorin Inc. Stillwater (United States) USD 1 103,831,400 1,520,017,500 0.01 100% 100 Diasorin Canada Inc Mississauga (Canada) CAD 200,000 542,900 4,545,500 N/A 0% 100 Class A
common
shares
Diasorin Molecular LLC Cypress (United States) USD 100,000 29,688,832 354,469,750 100,000 0% 1 Diasorin Mexico S.A de C.V. Mexico City (Mexico) MXP 63,797,082 9,395,642 82,446,562 1 100% 49,999 Diasorin Deutschland GmbH Dietzenbach (Germany) Euro 275,000 4,024,834 9,523,344 275,000 100% 1 Diasorin AB Solna (Sweden) SEK 5,000,000 5,122,924 32,848,274 100 100% 50,000 Diasorin Greece S.A. Atene (Greece) EUR 1,400,000 -741,949 739,192 1 100% 1,400,000 Diasorin Ltd Rosh HaAyin (Israel) ILS 100 862,000 16,057,000 1 100% 100 Diasorin Austria GmbH Wien (Austria) Euro 35,000 1,262,005 2,302,537 35,000 100% 1 Diasorin Czech s.r.o. Prague (Czech Republic) CZK 200,000 13,223,000 76,909,000 200,000 100% 1 Diasorin I.N. Limited Dublin (Ireland) € Euro 1 1,005,644 12,806,607 0.01 100% 100 Diasorin Australia (Pty) Ltd Sydney (Australia) AUD 3,300,000 1,563,353 14,134,731 33,000 100% 100 Diasorin Ltd Shanghai (China) RMB 22,000,000 -163,081,497 -322,267,184 1 76% 16,720,000 Diasorin Switzerland AG Rotkreuz (Switzerland) CHF 100,000 939,338 1,276,326 100 100% 1,000 Diasorin Poland sp. z o.o. Warsaw (Poland) PLN 550,000 897,602 15,214,644 50 100% 11,000 Diasorin Healthcare India Private Limited Mumbai (India) INR 470,000,000 78,802,000 380,873,000 10 0% 1 Diasorin APAC Pte. Ltd. Singapore (Singapore) EUR 1 147,894 536,598 N/A 100% 1 Diasorin Middle East FZ -LLC Dubai (UAE) AED 50,000 325,598 561,518 1,000 100% 50 Luminex Corporation Inc. Austin (United States) USD 25,000 -24,788,600 1,798,707,076 0.001 0% 25,000,000 Luminex Japan Ltd Tokyo (Japan) JPY 1 19,889,080 327,356,962 1 0% 1 Luminex Hong Kong Co. Ltd. Hong Kong (Hong Kong) HKD 100 131,700 2,215,391 10 0% 10 Luminex Molecular Diagnostics, Inc. Toronto (Canada) CAD 10,000,000 20,553,744 76,652,735 N/A 0% -
Nanosphere LLC Wilmington (United States) USD 1,000 - - 0.001 0% 1,000,000 ChandlerTec LLC Wilmington (United States) USD 1,000 - - 0.001 0% 1,000,000 Equity investments valued at cost
DiaSorin Deutschland
Unterstuetzungskasse GmbH Dietzenbach (Germany) € 25,565 -105,263 25,565 1 - 1 (*) Amounts stated in local currency
Interim Financial Report 2026
66 8. Statement on the Condensed Consolidated Interim Financial Statements pursuant to Article 81 -ter of Consob Regulation No. 11971 of 14 May 1999, as amended and supplemented
The undersigned Carlo Rosa, as "Chief Executive Officer", and Teresa Cervino, as "Officer in charge of preparing the corporat e accounting documents" of Diasorin S.p.A.,
Certify
pursuant to the provisions of Article 154 -bis. paragraphs 3 and 4, of Legislative Decree no. 58 of 24 February 1998:
a) the adequacy with respect to the Company structure;
b) the effective application of the administrative and accounting procedures applied in the preparation of the Consolidated Inte rim Financial Statements for the first half of 2026.
2. The undersigned also certify that:
2.1. the Consolidated Interim Financial State ments:
a) have been prepared in accordance with the applicable international accounting standards, as endorsed by the European Union under the (EC) Regulation no. 1606/2002 of the European Parliament and of the Council of 19 July 2002;
b) correspond to the und erlying accounting entries and records;
c) provide a fair and correct representation of the financial position, financial performance and cash flows of the issuer and o f all of the companies included in the consolidation area.
2.2. The Interim Management Report , to the best of the Company's knowledge, includes a reliable analysis of the significant events occurring in the first six months of the year and their impact on the Consolidated Interim Financial Statements, together wit h a description of the main risks and uncertainties for the remaining six months of the year.
The Interim Management Report also includes a reliable analysis of the information on significant transactions with related p arties.
Saluggia, 31 July 2026
Signed
Chief Executive Officer Officer in charge of preparing the corporate accounting documents
Interim Financial Report 2026
67 9. REPORT OF THE INDEPENDENT AUDITORS
Diasorin S.p.A.
Interim condensed consolidated financial statements as of 30 June 2026 Review report on the interim condensed consolidated
financial statements
(Translation from the original Italian text)
EY S.p.A.
Sede Legale: Via Meravigli, 12 – 20123 Milano Sede Secondaria: Via Lombardia, 31 – 00187 Roma Capitale Sociale Euro 3.000.000,00 i.v.
Iscritta alla S.O. del Registro delle Imprese presso la CCIAA di Milano Monza Brianza Lodi Codice fiscale e numero di iscrizione 00434000584 - numero R.E.A. di Milano 606158 - P.IVA 00891231003 Iscritta al Registro Revisori Legali al n. 70945 Pubblicato sulla G.U. Suppl. 13 - IV Serie Speciale del 17/2/1998 A member firm of Ernst & Young Global LimitedEY S.p.A.
Via Meravigli, 12 20123 MilanoTel: +39 02 722121 Fax: +39 02 722122037
ey.com
Review report on the interim condensed consolidated financial
statements
(Translation from the original Italian text) To the Shareholders of Diasorin S.p.A.
Introduction
We have reviewed the interim condensed consolidated financial statements, comprising the statement of financial position, the income statement, the statement of other comprehensive income, the statement of changes in equity, the statement of cash flows and the related explanatory notes to the interim condensed consolidated financial statements of Diasorin S.p.A. and its subsidiaries (the “Diasorin Group”) as of 30 June 2026. The Directors are responsible for the preparation of the interim condensed consolidated financial statements in accordance with the International Accounting Standard applicable to the interim financial reporting (IAS 34) as issued by the International Accounting Standards Board and adopted by the European Union. Our responsibility is to express a conclusion on the interim condensed consolidated financial statements based on our review.
Scope of the review We conducted our review in accordance with the criteria recommended by the Italian Regulatory Commission for Companies and the Stock Exchange (“CONSOB”) for the review of the half-yearly financial statements under Resolution n° 10867 of 31 July 1997. A review of interim condensed consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (ISA Italia) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion on the interim condensed consolidated financial statements.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the interim condensed consolidated financial statements of Diasorin Group as of 30 June 2026 are not prepared, in all material respects, in accordance with the International Accounting Standard applicable to the interim financial reporting (IAS 34) as issued by the International Accounting Standards Board and adopted by the European Union.
Milan, 3 August 2026 EY S.p.A.
Signed by: Massimo Meloni, Statutory Auditor This report has been translated into the English language solely for the convenience of international readers. Accordingly, only the original text in Italian language is authoritative.