Italmobiliare (ITM) Corporate presentation summary

Investment strategy and profile

• Investment holding since 1946, focused on Italian mid-sized businesses; Pesenti family is the majority shareholder. Listed on Euronext STAR.

• NAV was €2.25bn, or €53.6 per share, at Sep. 30, 2026; ordinary dividend €1.10 per share, equivalent to a 4.1% yield based on the Nov. 9 share price.

• Strategy targets resilient industrial, services and consumer sectors, with active support for organic growth, M&A, internationalisation, innovation and governance.

• NAV allocation: portfolio companies 68%, private equity 13%, financial investments and liquidity 10%, other investments 6%, real estate and other 3%.

NAV and performance

• Sep. 2026 NAV was €2,252m, down €6m or 0.2% YTD after adjusting for dividends and buybacks; portfolio-company and private-equity fair values rose €12m and €11m.

• In 9M 2026, portfolio companies’ aggregate revenues increased 8% YoY and EBITDA rose 14% YoY, led mainly by Caffè Borbone, CDS, Iseo and Tecnica.

• Since 2018, total NAV value creation for shareholders was €1,163m, or €27.6 per share, with 7.3% IRR and 1.75x MoM; €449m of dividends were distributed.

• Liquidity and financial assets were €222m at Sep. 2026, down €4m YTD; outflows included €48m for dividends and buybacks, €31m of holding costs and €19m invested in portfolio companies.

Portfolio highlights

• 9M 2026 Caffè Borbone revenue was €272m, flat YoY, with adjusted EBITDA up 23%; Santa Maria Novella revenue rose 6%, while adjusted EBITDA fell 8%.

• 9M 2026 CDS revenue increased 31% and adjusted EBITDA 38%; Tecnica revenue rose 6% and EBITDA 25%; Iseo revenue rose 8% and EBITDA 82%.

• Italgen revenue rose 4% in 9M 2026, while adjusted EBITDA declined 23% YoY amid lower production against a high rainfall comparison base.

• The portfolio spans branded coffee, luxury fragrance, sports equipment, outpatient healthcare, renewable energy, access-control technology, insurance and food.