BasicNet (BAN) investor relations material

Executive summary

• 9M 2026 consolidated revenues rose 21.6% YoY to €369.0m; excluding Woolrich and Sundek, revenues declined 2.2%.

• Aggregated brand sales reached €745.0m, up 11.5% YoY; total aggregated licensee sales were €948.5m, up 4.4%.

• EBITDA was €38.0m and net financial position with banks was -€174.2m, reflecting seasonal working-capital needs and investment activity.

• Commercial performance varied: Europe grew double digit, while hot weather weighed on K-Way retail; Q3 wholesale deliveries were strong.

Financial highlights

• Consolidated revenues of €369.0m included direct sales of €327.4m, up 29.6% YoY and 1.4% like-for-like, and royalties of €40.8m versus €49.9m.

• Real estate revenues were €0.8m, down 7.3% YoY.

• EBITDA was €38.0m versus 9M 2025 pro-forma EBITDA of €39.8m, excluding K-Way transaction-related costs.

• Woolrich and Sundek combined sales exceeded €70m; consolidated direct-sales growth also reflected Sebago.

Outlook and guidance

• Management expects revenues and margins to be at least stable, with potential growth; hedged dollar exposure is expected to support next year’s margins.

• EBITDA would be €45m versus €38m with current costs and implemented actions; €7m of annualized savings was fully implemented by September, with further savings expected in Q4 2026 and from Jan. 1, 2027.

• Integration of Woolrich and Sundek is expected to generate synergies and support structural profitability; priorities include brand enhancement, European direct presence and commercial and operational synergies.

• Positive Q4 operating cash flow is expected; generating at least €30m was described as very reasonable, supported by wholesale receivables and seasonal retail sales.

• No acquisition was expected through year-end; the next Sebago France payment is due in Q1 2027.