RT&L (RTL) Company presentation summary

Business model and strategy

• Asset-light international logistics provider, coordinating sea, air and land freight without owning transport assets.

• Freight forwarding spans Project Cargo and General Cargo, with particular focus on sea routes from China.

• P&A acquisition in 2025 added customs brokerage at Genoa, Genoa-Prà and Rivalta Scrivia; Olitrans was established in Livorno in March 2026 for port-area road transport and is not yet operational.

• Strategy targets customs brokerage M&A, a leading Italian customs position, stronger organisation and digital solutions to improve efficiency and services.

Business lines

• Customs brokerage covers import/export documentation, duties and VAT, customs documents and inspection support; FY2025 gross margin was ~50%.

• General Cargo coordinates containerisable shipments worldwide across sea, air, rail and road; FY2025 gross margin was ~40%.

• Project Cargo provides end-to-end oversized and heavy-lift transport, special vessel charters and offshore support; FY2025 gross margin was ~50%.

• Customs brokerage is positioned as a recurring-revenue cornerstone supporting stable, predictable financial performance.

Financial performance

• Pro forma FY2025 value of production rose 22% YoY to €10.628m; Customs Brokerage grew 47% and General Cargo 49%, while Project Cargo declined amid IPO-process focus.

• Pro forma FY2025 EBITDA increased 97% to €2.693m; EBITDA margin improved from 15.7% to 25.3%.

• Pro forma EBIT rose from €265k in FY2024 to €618k in FY2025; the EBITDA-to-EBIT difference mainly reflected €0.8m goodwill amortisation under Italian GAAP.

• Pro forma net result increased from €200k in FY2024 to €1.020m in FY2025.

• Net financial position was cash positive at €5.295m, supported by operating performance and IPO proceeds.