Slide 1: Q1 2026 Financial Results
Q1 2026 Financial Results Reggio Emilia – May 7, 2026
Slide 2: Disclaimer
Disclaimer This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the “Company”) and its affiliates (together, the “Group”). This document, the information contained herein and any information provided at any presentation in connection herewith (the “Material
Slide 3: Highlights
Highlights ➢ Key economic performance indicators for Q1 2026 are as follows: ➢ Revenues are €32,4M (€32,4M in Q1 2025) ➢ Adj. Ebitda is €3,3M or 10,3% of Revenues (€3,3M or 10,1% of Revenues in Q1 2025) ➢ Net Result Adj. €1,3M (€0,4M in Q1 2025) ➢ Net Result € -0,2M (€ -0,8M in Q1 2025) ➢ Net Debt r
Slide 4: Key financials (€M)
Key financials (€M) Revenues EBITDA Adj. 40,0 (€M) 5,0 (€M) 4,0 30,0 3,0 2,0 32,4 32,4 20,0 3,3 3,3 1,0 10,0 - 1Q 2025 1Q 2026 1Q 2025 1Q 2026 Net Result Adj. Net Financial Position 15,0 (€M) (€M) 0,60x 2,0 0,46x 10,0 1,5 12,6 1,0 5,0 9,6 1,3 0,5 - 31.12.2025 31.03.2026 0,4 - Net financial position
Slide 5: Focus on Revenues
Focus on Revenues (€M) 35,0 0,0 Red line (2,5) 2,6 77,3% 30,0 (0,1) Product Black line 5,5% 25,0 Line 20,0 Blue line 17,2% 32,4 32,4 15,0 International 10,0 52,4% 5,0 Geo 0,0 1Q 2025 Red Line Red Line Black line Blue line 1Q 2026 Italy Italy Int. 47,6% ➢ Overall, Q1 2026 revenues were broadly in lin
Slide 6: Focus on EBITDA Adj.
Focus on EBITDA Adj. EBITDA Adj. bridge 4,0 3,5 (0,2) 0,2 3,0 2,5 2,0 3,3 3,3 1,5 1,0 0,5 - 1Q 2025 Gross Margin* Op.Ex.* 1Q 2026 ➢ EBITDA Adj. is €3,3M as of March 31, 2026 (10,3% on Revenues) vs. €3,3M in Q1 2025 (10,1% on Revenues) ➢ Gross Margin Adj. at €13,6M vs. € 13,8M ➢ Opex*: ratio to Reven
Slide 7: Focus on Net Result Adj.
Focus on Net Result Adj. 1,8 (€M) 1,6 (0,4) 1,4 0,9 1,2 1,0 0,8 0,3 1,3 0,6 0,4 0,0 0,2 0,4 0,0 Net result adj. Ebitda Adj. D&A Net Financials Taxes Net result adj. Q1 2025 Q1 2026 ➢ Net Result Adj. is €1,3M vs. €0,4M in Q1 2025 ➢ Decrease in net financial effects related to a reduction in interest
Slide 8: Focus on Net Debt
Focus on Net Debt Net Debt bridge 14,0 (€M) 12,0 (Lev., (2,5) (Lev. Ratio:2,3 x) (Lev. Ratio:2,4x). 10,0 0,0 (0,1) (0,2) (Lev. (0,2) Ratio:2,7x). Ratio:2,4x). 8,0 45,6 12,6 (2,5x) 6,0 (,2,3x) 9,6 4,0 2,0 99 - Net debt Financial Liabilities Fair Value Put & Call IFRS 16 Other Cash & Eq. Net debt 31.1
Slide 9: Summary & Medium-term overview
Summary & Medium-term overview ➢ Overall results in line with Q1 2025 — the only year-on-year positive quarter in 2025 — reversing the downward trend observed in the last three quarters ➢ In a market context that remains complex and selective, the Group worked on enhancing its revenue, with stronger
Slide 10: Q&A session
Q&A session 10 cellularline
Slide 11: IR contact
IR contact Marco Cagnetta Board Member and General Manager Sales and Marketing & IR Giacomo Rizzi Group Chief Financial Officer e Dirigente Preposto Vincenzo Pacilli IR and M&A Manager ir@cellularlinegroup.com www.cellularlinegroup.com Ph: +39 0522 33 40 02 11