RT&L (RTL) Company presentation summary

Business model and services

• Asset-light international freight forwarding across sea, air and land, with no ownership of physical assets and services spanning worldwide transport.

• Service lines cover project cargo, general cargo, trucking and customs brokerage, including end-to-end shipment coordination and import/export documentation.

• Project cargo focuses on complex industrial and offshore transport, including specialist vessel chartering; FY2025 gross margin was ~50%.

• General cargo handles containerizable goods across global routes; FY2025 gross margin was ~40%. Customs operations provide recurring services and had FY2025 gross margin of ~50%.

Expansion and milestones

• Founded in 2018; acquired 100% of P&A Spedizioni in 2025, adding customs brokerage at Genoa, Genoa-Prà and Rivalta Scrivia.

• In 2026, customs services expanded through exclusive management of a bonded warehouse in Rivalta Scrivia.

• Olitrans was established in 2026 as a 51%-owned venture for intra-port road transport, headquartered in Livorno; it targets 7,500 containers and 2,950 transports annually between Livorno and Genoa.

• P&A offices are in Genoa, Genoa-Prà and Rivalta Scrivia, with planned expansion to Livorno, Pisa, La Spezia and Vado Ligure.

Financial performance and listing

• Consolidated pro forma revenue was €8.702m in 2024 and €10.627m in 2025; EBITDA was €1.370m and €2.693m, respectively.

• EBITDA margin increased from 16% in 2024 to 25% in 2025; net income was €265k and €1.020m, respectively.

• Listed on Euronext Growth Milan on 3 December 2025 at €1.80 per share, with ~€5m IPO proceeds and ~€21m IPO market capitalization.

• From IPO to 5 June 2026, shares gained 98%; the 5 June share price was €3.57, market capitalization ~€42m and average daily traded volume 39k shares.

• Integrae SIM's April 2026 equity research cited a €4.50 price target.