Biesse Group
HY 2026 Financial
Results
Conference phone call
31stJuly 2026
India
Thailand ItalyManufacturing
Sites in
3
countries
~23,4 %
of revenue in North & South America~3,600
total employees
of which 45% out of Italy
~64,5 %
of revenue in EMEA~12,1 % of revenue in APACShowroom & Biesse Material Hub Network
in 20
Countries Biesse presence worldwide 2 HY 2026 Financial Results
3 This is BiesseOverview della Società Key facts and data HY 2026 Net revenues : amounted to €311,1m, down 3,6% compared to HY 2025 . The 2026 FX impact was negative for €6,9m vs. HY 2025 ; at constant exchange rates, the decline would have been limited to -1,5%.
Ebitda Adj: margin stood at 5,6%, compared to 5,0% in HY 2025 . The significant cost reduction resulting from the activation of the contingency plan helped mitigate the negative impact of lower revenues .
Headcount : decreased by 106 employees compared to HY 2025 , of which 139 in Italy, primarily driven by the closure of manufacturing facilities in Northern Italy .
Order Intake : ongoing geopolitical uncertainties are driving a phase of slowdown and wait -and -
see across global markets . HY 2026 performance is broadly in line with Q4 2025 , showing an improvement compared to the performance of Q2 and Q3 2025 and reducing the Q1 gap from -4,7% to -4%.
NFP : deterioration in HY 2026 (€21,1m) is consistent with the business seasonality and broadly in line with the cash absorption recorded in HY 2025 (€20,3m). Cash absorption in Q2 2026 amounted to (€8,5m), lower than the (€12,6m) recorded in Q1 2026 .MAIN INDICATORS Revenue mix shifted further towards Service & Parts and Components, partially offset by a softer contribution from Machines & Lines, which remained broadly in line with HY 2025 levels.
From a geographical standpoint, a positive contribution is observed in the EMEA region, particularly driven by Spain & Portug al. AMERICAS region -4,6%.€ 299,8 Mln Order Intake HY 2026
-4,0% Vs. HY 20253.601
Headcount
vs. 3.707 HY 2025€ 311,1 Mln Sales HY 2026 -3,6% Vs. HY 2025€ 17,3 Mln Ebitda Adj HY 2026
5,6% Sales
Ebitda Adj HY 2025 5,0% Sales-€ 19,6 Mln
NFP ( excl . IFRS16) HY 2026
vs. €1,5 Mln of
2025
M&L S&P Mc&T EMEA AMERICAS APAC Glass Stone Matter &MetalBY PRODUCT M&L BY MATERIAL BY GEOGRAPHY
Wood67,1% 67,8%22,6% 21,7%10,3% 10,5%
HY 2026 HY 202572,4% 71,1%12,4% 12,1%11,5% 12,3%3,7% 4,5%
HY 2026 HY 202523,4% 23,6%12,1% 15,1%64,5% 61,1%
HY 2026 HY 2025
HY 2026 Financial Results
5Key financials – quarterly analysis HY 2026 Financial Results-2,110,9Revenues Ebitda Adjusted Ebit Q2 2026 showed
a strong
improvement
compared with
Q1 2026 ,
reducing the gap by half. However, some areas of
concern remain,
particularly order
intake, which
continues to be
below
expectationsQ2 2026
operating margin
showed an
increase,
supported by
efficiency
initiatives and
cost control
measures, which
helped mitigate
the impact of
lower volumes
and preserve
positive
profitability.The increase in
operating
profitability was
primarily driven
by releases from
provisions for
risks and
charges relating
to legal disputes,
following the
favorable
development of
the relevant legal
proceedings.-3,6%H1
2025H1
2026Q2
2025
169,5 165-2,6%Q2
2026
+8,0%H1
2025H1
2026
Ebitda
AdjustedQ2
2025
11,614,8+27,7%Q2
2026
+171,7%H1
2025H1
2026Q2
2025 n.a.Q2
202616 17,3322,8 311,1
-6,74,8EbitRevenues
-4,7-6,1153,3 146,1-4,7%Q1
2026
4,4
2,5-44,0%Q1
2026
-30,1%Q1
2026Q1
2025
Q1
2025
Q1
2025
(*) restructuring costs.
Adverse FX impact, reflecting an unfavorable reversal versus the positive contribution recorded in 2025 as well as lower financial income.The current geopolitical environment is creating challenging market conditions, with cross -
regional and cross -business impacts. FX had a negative impact of approximately €7m compared to 2025.
Gross margin decreased versus 2025 for 1,6%, primarily driven by a negative mix/pricing effect for -0,5%, transport costs for -1% and an adverse FX impact of -0,1%.
D&A lower than HY 2025 due to lower investments.
Lower provisions due to the release of accruals/reserves.Significant cost reduction across both fixed costs and personnel expenses, driven by the implementation of the contingency plan.
HY 2026 Financial ResultsProfit & Loss 6 In €m % on % on
Revenues Revenues
Revenues from sales & services 311,1 100% 322,8 100% -11,7 -3,6% Raw material consumption (121,9) -39,2% (125,1) -38,7% 3,2 -2,5% Variable production&distribution costs (23,3) -7,5% (20,4) -6,3% (2,9) 14,0% Gross Margin 166,0 53,3% 177,3 54,9% -11,3 -6,4% % on Revenues 53,3% 0,2% 54,9% 0,2% -1,6% Fixed Operating expenses (40,6) -13,1% (45,0) -13,9% 4,3 -9,6% Other revenues 3,0 1,0% 3,7 1,1% (0,7) -19,4% Personnel expenses (111,1) -35,7% (120,1) -37,2% 9,0 -7,5% EBITDA adjusted (1)17,3 5,6% 16,0 5,0% 1,3 8,0% % on Revenues 5,6% 0,0% 5,0% 0,0% 0,6%
D&A (16,4) -5,3% (17,6) -5,5% 1,2 -6,8%
Provisions 4,9 1,6% (0,8) -0,2% 5,7 n.a.
EBIT adjusted (1)5,8 1,8% -2,4 -0,7% 8,2 n.a.
% on Revenues 1,8% 0,0% -0,7% 0,0% 2,6% Non recurring-items* (0,9) -0,3% (4,3) -1,3% 3,4 -78,4%
EBIT 4,8 1,5% -6,7 -2,1% 11,5 -171,7%
% on Revenues 1,5% 0,0% -2,1% 0,0% 3,6% Financial income & expenses, FX (3,0) -1,0% (0,6) -0,2% (2,4) n.a.
Income taxes (1,7) -0,5% 0,2 0,1% (1,9) n.a.
Profit/Loss for the period 0,2 0,1% -7,1 -2,2% 7,3 -102,5% % on Revenues 0,1% -2,2% 2,3%Δ %HY
2026HY
2025Δ HY 2026/
HY 2025
Lower volumes vs HY 2025 determine a margin decrease of € 3,3m and a loss in marginality of € 1,7m, additionally affected by a negative FX impact of € 3,9m and higher transportation costs amounting to € 3,2m.-7,1 -12,1 4,3 9,0 6,9
-2,4
-1,9 3,4 0,2
NET RESULT
JUN'25VOLUMES
& MARGINSOPEX STAFF
COSTSD&A FINANCIAL TAXES NON
RECURRING NET RESULTS
JUN'26The cost variance is broad -
based and mainly due to the implementation of the contingency plan. In particular, lower expenses were recorded for consultancy fees (€ 1,3m), maintenance (€ 0,8m), trade fairs (€ 1,4m,), in addition to a positive FX contribution of €0,8m.Labor costs are € 9m lower, mainly due to higher staff turnover despite higher inflation -
related costs, in addition to a positive FX contribution of € 1,8m.
.D&A are € 6,9m lower; mainly due to lower depreciation expenses (€ 0,9m), provisions release provisions (€ 5,7m), in addition to a positive FX contribution of € 0,3m.
Financial variance is mainly due to a negative effect from exchange rates of (€ 1,5m) and lower financial income of (€0,5m).Taxes : the negative effect is due to a better result of the period. The variation in
non -recurring
items is due to
severance -
related costs.Bridge net results HY 2026 vs HY 2025 7Effect on NET RESULT € 7,3m Effect on EBITDA € 1,3mThe net result for June 2026 is positive for € 0,2m , showing an increase of € 7,3m compared to HY 2025, with an incidence on revenues amounting to 0,1%, compared to (2,2%) in June 2025. The main changes are detailed below:
HY 2026 Financial Results
Headcount Trend
8The Group's headcount decreased by 651 units compared to June 2024 .
HY 2026 Financial ResultsThe Group's headcount decreased by 106 units compared to June 2025 , of which 140 HC decreased within the Italy perimeter and 34 increased in the rest of the world, representing a percentage change of (2,9%).
Headcount JUN 2026 % JUN 2025 % ∆ ∆ % Italy 1.977 55% 2.117 55% -140 -7% Rest of the world 1.624 45% 1.590 42% 34 2%
TOTAL 3.601 100% 3.707 97% -106 -2,9%
Headcount JUN 2026 MAR 2026 DEC 2025 SEP 2025 JUN 2025
Italy 1.977 2.026 2.049 2.106 2.117 Rest of the world 1.624 1.586 1.614 1.617 1.590
TOTAL 3.601 3.612 3.663 3.723 3.707
Delta vs Jun 26 -11 -62 -122 -106
226,4 226,267,886,3
1,5
-19,6
9Net Operating
Working Capital+18,6
Net Financial
Position ( excl .
IFRS16)-21,1FY 2025 H1 2026
Equity-0,2 FY 2025 H1 2026Il NWC increases by €18,6 million compared to FY 2025 mainly for:
▪ increase in inventory +€15,2 million .
▪ increase in trade receivables +€0,7 million ;
▪ decrease in trade payables +€1,8 million ;
▪ decrease in contract liabilities +€0,9 million .
The Equity decreases by €0,2 million compared to FY 2025 mainly for:
▪Profit of the period + €0,2 million ;
▪Other comprehensive income -€0,3 million .The NFP decreases by €21,1 million compared to FY 2025 mainly for:
▪Free Cash Flow adj from continuing operations +€17,3 million ;
▪NWC variation -€18,6 million ;
▪Net cash interest and taxes -€4,6 million ;
▪CAPEX and rents -€8,8 million ;
▪Other assets/liabilities & Funds -€5,5 million ;
▪Non -recurring financial outflows : -€0,9 million .Balance Sheet highlights
FY 2025 H1 2026
HY 2026 Financial Results
Balance Sheet
10Compared to FY 2025, net fixed assets decreased by €11,5m, mainly due to depreciation and amortization expenses exceeding the new investments made during the period. The comparison with HY 2025 is affected by the goodwill impairment recognized at year -end 2025.
Operating net working capital increased by €18,6m compared to FY 2025. This increase was mainly driven by higher inventories (€15,2m). This trend is partly seasonal and typical of the first half of the fiscal year, with a gradual normalization expected in the second half.
The change is mainly attributable to movements in provisions release and tax liabilities.
Net financial debt reflects the cash absorption recorded during the period.
In €m
Intangible assets 104,3 108,4 125,2 Property, Plant, Equipment 106,7 110,2 105,4 IFRS & Leasing 21,2 24,9 31,1 Financial Assets 2,2 2,4 2,3 Non current assets 234,4 245,9 263,9 % on Revenues 29,9% 37,1% 36,4% Inventories 191,0 175,8 187,6 Trade receivables 101,9 101,1 116,5 Trade payables (137,9) (139,7) (140,6) Contract Liabilities (68,6) (69,4) (89,5) Non operating working Capital 86,3 67,8 73,9 % on Revenues 11,0% 10,2% 10,2% Other Liabilities & Funds (52,6) (62,6) (67,7) Net Invested Capital 268,1 251,0 270,1 % on Revenues 34,2% 37,9% 37,3% Equity (226,2) (226,4) (244,6) Net Financial Position (41,9) (24,6) (25,6) Total Source & funding (268,1) (251,0) (270,1)HY
2026FY
2025HY
2025
HY 2026 Financial Results
HY 2026 Cash flow bridge
(€/mln )
111,5 17,3
-18,6
-4,6
-4,1
-4,7 -
-19,6 -6,3
NFP 2025
(excl. IFRS16)EBITDA
ADJNWC
variationNET CASH INTEREST
& TAXESCAPEX
(incl. Leasing)RENTS DIVIDENDS
& OWN SHARESOTHERS* NFP HY2026
(excl. IFRS16)Free Cash Flow (21,1) €Mln
* Other assets/ liabilities&Funds (€ 5,1mln), Non -recurring financial outflows (€ 0,9mln), Currency (€ 0,3mln)The HY 2026 NFP is negative for € 19,6 million, decreasing by €21,1 million compared to FY 2025.
HY 2026 Financial ResultsCash absorption primarily driven by negative FX impact .Lower CAPEX ,
reflecting investment
postponements and
contingency plan
implamentation .
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06/2026BIT:BSS ^FTSEMIB ^ITSTARStock performance & consensus 2022 2024 2025 202 3 2026 12 HY 2026 Financial Results
Shareholder distribution
•Roberto Selci ( President & C.E.O.) •Stefano Porcellini ( Deputy C.E.O.)
•Salvatore Giordano
•Rossella Schiavini
•Federica Ricceri
•Cristina Sgubin
•Pier Giorgio BedogniBiesse Board of Directors
Bi.Fin
(Selci family)
50.98%Free float
49.02%Shareholders distribution
3,62%
2,33%
1,41%
1,39%
1,22%Banor SicavAcomea Pmitalia NefLazard Freres Banque The Highclere International Investors Smaller Companies FundTop 5 Shareholders 13 HY 2026 Financial Results
Disclaimer
14This presentation has been prepared independently by Biesse S.p.A. and can be used only during meetings with investors and financial analysts .
It’s solely for information purposes and it may contain statements regarding future financial performances and Company’s expectations Biesse is not responsible for the content processed by third parties and content indicated in this Document . No liability is accepted by or on behalf of Biesse for any errors, omissions or inaccuracies contained in this presentation .
This document has been prepared solely for this presentation and does not constitute any offer or invitation to sell or any solicitation to purchase any share in the Company .
Any forward looking statements are not guarantees of future performances and is related only of the date of this document . They are based on the Group’s current state of knowledge, future expectations and projections about the future events . By their nature they are subject to inherent risks and uncertainties .
Further information concerning the Group results, including factors that could materially affect the Company itself (i.e. IFRS) will be included and detailed in the Financial Statement of the Group .
For further details on the Biesse S.p.A. reference should be made to publicly available information . including the Quarterly Reports, the Half Annual Report, the Annual Reports and the Three Years Business Plan .
The Manager in Charge of preparing the Company financial reports hereby certifies that the accounting disclosures of this document are consistent with the accounting documents, ledgers and entries .
Any reference to past performance of the Biesse S.p.A. shall not be taken as an indication of future performance .
This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever .
No action should be taken or omitted based on the informations contained in this Document . Biesse accepts no liability for the results of any action taken on the basis of the informations contained in this Document .
By attending the presentation you agree to be bound by the foregoing terms .
The User is not granted any license or right of use and therefore is not allowed to record such content – in whole or in part - on any type of media, reproduce, copy, publish and use them for any purpose without prior written permission .
HY 2026
Q&A