Fine Foods & Pharmaceuticals N.t.m. Spa · MIL:FF
Fine Foods & Pharmaceuticals N.t.m. Spa — FY2025 Earnings Presentation
36 slides from Fine Foods & Pharmaceuticals N.t.m. Spa's earnings presentation, Mar 12, 2026
Slide 1: FY 2025 Results Presentation
FY 2025 RESULTS PRESENTATION 12/03/2026
Slide 2: Index
FINE FOODS FY 2025 INDEX RESULTS PRESENTATION 2 Index 1 2 3 WE CREATE FINANCIALS SHAREHOLDING VALUE STRUCTURE & CORPORATE GOVERNANCE 4 5 INVESTOR BACK UP INFORMATION ESG DETAILS & CONTACTS
Slide 3: We Create Value
FINE FOODS FY 2025 RESULTS PRESENTATION 3 WE CREATE VALUE
Slide 4: Italian leading independent CSDMO
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 4 Italian leading independent CSDMO active in the attractive and growing nutraceutical, pharmaceutical and cosmetic markets, following an innovative cross-functional R&D approach, ensuring top-tier quality standards, and fostering strong lastin
Slide 5: Fine Foods at a glance
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 5 Fine Foods at a glance Italian independent CSDMO active in >70,000 sqm of covered area on a total area of more than the nutraceutical, pharmaceutical and 200,000 sqm cosmetic industries through 3 Business 3 specialized plants all located in U
Slide 6: European reference markets
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 6 European reference markets* €BN 1,018.2 867.1 644.0 5.7% 9.9% 7.9% 3.9% 6.8% 463.5 849.6 Pharma 381.3 729.9 539.1 2.0% 4.0% 369.1 2.0% 7.0% 5.3% 295.2 142.1 Cosmetics 115.7 81.4 88.1 4.7% 6.6% 6.5% 5.4% 5.8% 75.3 12.9 16.7 21.5 26.5 Nutra 10.
Slide 7: Consistently outperforming reference markets
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 7 Consistently outperforming European Vitamins & Dietary supplements Fine Foods Revenue reference markets* European Pharmaceuticals 252.1 €M European Cosmetics Fine Foods Fine Foods Revenue 102.5 €M 2015 2016 2017 2018 2019 2020 2021 2022 2023
Slide 8: Flexible and integrated business model
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 8 Flexible and integrated NUTRACEUTICALS AND COSMETICS business model Concept Development Regulatory Compliance Formulation Production Distribution Fine Foods is positioned within the value creation chain of pharmaceuticals, nutraceuticals and
Slide 9: R&D for efficient and high-quality product development
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 9 R&D for efficient and high-quality OPPORTUNITY LAB product Formulae databank development ➝ Wide range of ready-to-use product formulations 159 NUTRACEUTICALS & COSMETICS Using different approaches, based on INNOVATION LAB customer needs, our
Slide 10: What we do
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 10 What we do PHARMACEUTICAL NUTRA / PHARMA COSMETICS FORMS Cross-fertilised innovation is implemented by exploiting our expertise in different fields, best Capsules Tablets Powders Granules Liquids Creams Gels Toothpaste Parfum practices and t
Slide 11: Selection of products
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 11 Selection of products
Slide 12: Customers' loyalty
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 12 2025 Customers’ loyalty 2020 2010 2000 ~ 130 clients distributed across the 3 BUs Retained key domestic and global clients acquired before 2000 Several new clients added afterwards, including those derived from our acquisitions in the cosmet
Slide 13: Our Commitment to Quality, Safety and Sustainability
FINE FOODS FY 2025 WE CREATE VALUE RESULTS PRESENTATION 13 Our Commitment to Quality, Safety and Sustainability RATING ESG Membro Sedex dal 2016 (BU Nutra) Membro UNGC dal 2021 CERTIFICAZIONI AUTORIZZAZIONI PRODOTTI SPECIFICI HALAL KOSHER
Slide 14: Financials
FINE FOODS FY 2025 RESULTS PRESENTATION 14 FINANCIALS
Slide 15: FY 2025 Executive Summary
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 15 FY 2025 Executive Summary REVENUE ADJ EBITDA ADJ NET INCOME €M 38.1 €M 252.1 +14.9% vs FY 2024 €M 12.8 +3.4% vs. FY 2024 ADJ EBITDA MARGIN +25.2% vs FY 2024 15.1% (+150 bps) CAPEX NET DEBT DIVIDENDS PAID IN 2025 €M 47.9 €M 36.4 €M 3.4 Extraordina
Slide 16: FY 2025 BUs Revenue Breakdown
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 16 FY 2025 BUs Revenue Breakdown Q4 2025 FY 2025 FY 2024 Cosmetics Cosmetics Cosmetics 11.3% 12.2% 10.6% Pharma 36.0% 52.7% 54.0% 31.1% 58.3% Pharma 33.8% Nutra Pharma Nutra Nutra FY 2025 Revenue amounted to €M 252.1, up by +3.4% compared to FY 2024
Slide 17: FY 2025 Main Financials Results Overview
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 17 FY 2025 Main Financials Results Overview FY 2025 Consolidated Revenue reached €M 252.1, up Var vs FY % vs +3.4% compared to FY 2024 (€M) FY 2025 FY 2024 2024 FY 2024 FY 2025 ADJ EBITDA rose to €M 38.1, +14.9% vs FY 2024 Revenue 252.1 243.8 8.3 3.
Slide 18: FY 2025 BUs ADJ EBITDA
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 18 FY 2025 BUs ADJ EBITDA Group Nutra Pharma Cosmetics +14.9% +36.1% ADJ Ebitda/ Net Sales 38.1 -1.5% 13.4 +382.2% (€M) 33.2 23.8 23.4 9.9 1.3 13.6% 15.1% 16.7% 17.2% 13.0% 15.8% 4.2% (0.5) FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 (1.8%) FY 2
Slide 19: FY 2025 Cash flow & Net Debt
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 19 FY 2025 Cash flow & Net Debt (€M) (2.3) 3.2 Var. vs Cash Flow Statement (€M) FY 2025 FY 2024 FY 2024 ADJ EBITDA 38.1 33.2 4.9 (36.4) Change in TWC (2.3) 15.3 (17.6) 38.1 Other Change in NWC 3.2 2.3 0.9 Capex (36.4) (34.7) (1.7) Operating Cash Flo
Slide 20: TWC & CAPEX
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 20 TWC & CAPEX TRADE WORKING CAPITAL (€M) CAPEX (€M) 13.5% 14.0% % on Net Sales 14.4% % Total on Net Sales 14.2% 3.6% 5.3% % Ordinary on Net Sales 32.9 35.2 36.4 34.7 Trade Receivables 36.6 Extraordinary capex tangibles 37.5 Inventories Ordinary cap
Slide 21: Outlook and Guidelines for future growth 1/2
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 21 Outlook and ➢ Fine Foods' market segments are expected to grow in the coming year, in Europe and globally Guidelines for future growth ➢ The weight-control nutraceutical segment is undergoing a transformation, driven by emerging trends in the cus
Slide 22: Outlook and Guidelines for future growth 2/2
FINE FOODS FY 2025 FINANCIALS RESULTS PRESENTATION 22 Outlook and Guidelines for future growth 2/2 NUTRA BU PHARMA BU COSMETICS BU It will keep focusing on quality, innovation The fast-growing Pharma BU will remain Following a phase of integration, and development of high value-added focused on mana
Slide 23: Shareholding Structure & Corporate Governance
FINE FOODS FY 2025 RESULTS PRESENTATION 23 SHAREHOLDING STRUCTURE & CORPORATE GOVERNANCE
Slide 24: Shareholding structure
FINE FOODS FY 2025 SHAREHOLDING STRUCTURE RESULTS PRESENTATION 24 Shareholding structure FINE FOODS SHARES N. OF SHARES (Million) % FLOATING (ON LISTED SHARES) ~54.3% LISTED SHARES 22.1 86% As of 27.02.2026 UNLISTED SHARES* 3.5 14% TOTAL EQUITY CAPITAL 25.6 100% 7.6% 4.2% *Unlisted shares are Multip
Slide 25: Corporate Governance
FINE FOODS FY 2025 SHAREHOLDING STRUCTURE RESULTS PRESENTATION 25 Corporate Governance → 4 Independent Directors Our governance is structured → 4 Non-executive Directors around an ESG responsible approach. It allows us to pursue a sustainable growth while also ensuring continuity to all our ENVIRONM
Slide 26: Investor Information & Contacts
FINE FOODS FY 2025 RESULTS PRESENTATION 26 INVESTOR INFORMATION & CONTACTS
Slide 27: Investor Information
FINE FOODS FY 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 27 Investor MARKET EURONEXT STAR MILAN Information ISIN CODE IT0005215329 TICKER FF INTESA SANPAOLO S.p.A. Recommendation: Buy SPECIALIST Analyst: Giada Cabrino Target Price: € 12.80 E-mail: giada.cabrino@intesasanpaolo.com Last
Slide 28: Why Fine Foods?
FINE FOODS FY 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 28 Why Fine Foods? Positioning Performance Reliability • Unique presence in • Solid track record with • Long term Nutra, Pharma and a 10-year revenue developmente view Cosmetic sectors CAGR >9% (synergies among • Experienced the
Slide 29: Contacts
FINE FOODS FY 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 29 Contacts Fine Foods & Pharmaceuticals N.T.M. S.p.A. Tel. +39 035 4821382 CEO, IR: Pietro Oriani Investor Relations & Communication Advisor: Michaela M. Carboni Investor Relations: ir@finefoods.it Media Relations: media.relati
Slide 30: Disclaimer
FINE FOODS FY 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 30 Disclaimer This document has been prepared by Fine Foods & Pharmaceuticals The information contained in this document, unless otherwise specified N.T.M. S.p.A. for the sole purpose described herein. The information is only cu
Slide 31: Back Up ESG Details
FINE FOODS FY 2025 RESULTS PRESENTATION 31 BACK UP ESG DETAILS
Slide 32: Fine Foods' Group sustainability pillars and Benefit Objectives
FINE FOODS FY 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 32 Fine Foods’ Group sustainability pillars and Benefit Objectives People Environment Ethics & Governance Supply Sustainable Chain Products Land Development
Slide 33: ESG main initiatives and results
FINE FOODS FY 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 33 ESG main initiatives Environment Social Governance and CIRCULAR ECONOMY WE ATTRACT BOARD OF DIRECTORS results* • Increase of waste volumes sent to recovery, thus reducing environmental impact ~ 11,200 applications/year • 4 Women out of
Slide 34: Ratings, ESG Commitment and Certifications
FINE FOODS FY 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 34 Ratings, ESG Commitment and Certifications RATINGS Sedex Member SMETA Audit 4 Pillar ESG COMMITMENT 231 Organizational, managerial and control Part of an Italian network of models to prevent companies focused on UNGC Member crimes Dive
Slide 35: Sustainable products
FINE FOODS FY 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 35 Sustainable products OUR SERVICES Support and service to Environmental Product carbon Product develop products that provide labelling footprint calculation eco-design environmental, social and consultation support support economic bene
Slide 36: Suppliers' ESG management
FINE FOODS FY 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 36 Suppliers’ ESG management ENVIRONMENTAL AND SOCIAL ASSESSMENT OF OUR SUPPLIERS 95% Value of purchases of raw materials and packaging from suppliers assessed by EcoVadis on ESG criteria 98% Value of purchases of raw materials and packag
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