Landi Renzo (LNDR) Q1 2026 earnings summary

Executive summary

• Ongoing restructuring process under the CNC procedure, with a 180-day extension granted in February 2026 to finalize the business plan and debt renegotiation.

• Investment agreement signed with Heliaca Investments for industrial integration of the Green Transportation segment with Westport Fuel Systems Italia.

• Financial statements for 2024 and 2025, and interim reports for Q1 2026, remain unapproved and unaudited as of the reporting date.

Financial highlights

• As of March 31, 2026, net financial position for the Group was €107.6 million, with €95.3 million short-term and €12.4 million medium/long-term.

• Cash and equivalents for the Group stood at €15.3 million, down from €24.1 million at December 31, 2025.

• Overdue debt positions for the Group totaled €23.5 million, including €10.9 million financial and €12.7 million commercial debts.

Risk factors and uncertainties

• All medium/long-term financial debts reclassified as short-term since June 30, 2025, due to covenant breaches and moratorium request.

• Ongoing negotiations with creditors and banks; no injunctions or supply suspensions reported as of March 31, 2026.

• Legal dispute with a German supplier over product defectiveness, with the supplier withdrawing its lawsuit after jurisdictional challenge.