Cembre (CMB) investor relations material

Executive summary

• Consolidated revenues for Q1 2026 reached €68.3 million, up 13.9% year-over-year from €60.0 million in Q1 2025, with domestic sales up 19.9% and international sales up 9.5%.

• Net profit rose 17.8% to €14.0 million, representing 20.5% of sales.

• EBITDA margin improved to 33.6% of sales, with EBITDA at €23.0 million, up 17.3% year-over-year.

• Operating profit (EBIT) grew 19.2% to €19.2 million, with a 28.1% margin on sales.

• The Board approved a new share buy-back program, with a maximum of 850,000 shares and a €50 million cap.

Financial highlights

• Revenue growth was driven by strong performance in Italy (+19.9%), rest of Europe (+6.5%), and non-European markets (+25.1%).

• Net financial position as of March 31, 2026, was negative €1.0 million, down from a positive €7.1 million a year earlier.

• Net operating working capital increased to €106.7 million, 42.3% of sales.

• Investments in Q1 2026 totaled €5.6 million, with €24.3 million invested in 2025 and €89.7 million over the last five years.

• Personnel costs increased by 12.1% year-over-year, but as a percentage of turnover decreased to 26.1%.

Outlook and guidance

• Management expects consolidated turnover and economic results to remain positive for 2026, supported by strong sales momentum in the first four months.

• Focus on strengthening competitive advantage through R&D, new product development, and high-tech, automated manufacturing.

• Plans to improve distributor channels abroad and increase penetration in the US and Germany.