Fabbrica Italiana Lapis ed Affini (FILA) investor relations material

Executive summary

• H1 2026 saw sustained operational growth, especially in Q2, driven by the consolidation of Seven Group and a shift in business seasonality toward the center of the year.

• Enhanced financial flexibility was achieved through debt refinancing and the sale of a 7% stake in DOMS.

• Operational efficiency, production reorganization, and a better sales mix contributed to higher margins and profitability.

• Extraordinary dividend of €0.46 per share proposed, with 467,758 shares repurchased out of 1.3 million authorized.

Financial highlights

• Core business sales reached €343.4 million in H1 2026, up 12.2% year-over-year at constant FX, including €44.3 million from Seven Group.

• Adjusted EBITDA was €75.9 million, up 20.4% year-over-year, with margin improving to 22.1% from 20.8%.

• Adjusted net profit rose to €37.9 million from €22.6 million, aided by better operations and lower net financial expenses.

• Reported net group profit increased to €59.3 million, mainly due to a capital gain from the DOMS stake sale.

• Free cash flow to equity improved to -€60.3 million from -€70.1 million, despite Seven Group's cash absorption.

• Net bank debt as of June 2026 was €200.9 million, down €35.4 million year-over-year.

Outlook and guidance

• Full-year 2026 guidance confirmed: double-digit growth in revenue and adjusted EBITDA, with positive organic growth.

• Free cash flow to equity projected at €40–50 million; dividend payout ratio targeted at 20–40% under normal conditions.

• CapEx for 2026 expected at €20 million, with a €10 million change in net working capital.

• Macroeconomic uncertainties persist, including U.S. tariff policies and geopolitical tensions, but broad geographic diversification and a resilient business model support confidence.