Neodecortech Spa · MIL:NDT
Neodecortech Spa — H1 2025 Earnings Presentation
43 slides from Neodecortech Spa's earnings presentation, Aug 5, 2025
Slide 1: Investor Presentation H1 Results
INVESTOR PRESENTATION H1 RESULTS August 5th, 2025
Slide 2: Today's Speakers
2 TODAY’S SPEAKERS LUIGI COLOGNI – CEO, 2005 - 61, Degree in Business Administration, MBA from Bocconi University - Since the 1990s: gained experience in the furniture industry, working for multinational companies - Since 2005, joined Confalonieri S.p.A. (now NEODECORTECH Italia), where he currently
Slide 3: Index
3 INDEX 1. Company overview 2. H1 2025 Financial results 3. Future outlook & Growth strategy 4. ESG approach 5. Appendix
Slide 4: 1. Company overview
1. Company overview
Slide 5: Neodecortech at a Glance
1. Company overview 5 NEODECORTECH AT A GLANCE Providing the interior design industry with high-end suite of solutions Business strategy enhanced by distinctive Italian flair for a sustainable living ESG purpose 75+ YEARS OF INTEGRATED BUSINESS Bergamo Printing, Impregnation EXPERIENCE MODEL Lacquer
Slide 6: More Than 75 Years of Experience
1. Company overview 6 MORE THAN 75 YEARS OF EXPERIENCE A Group with a rich heritage and a broad portfolio of high-end design solutions, supported by an experienced management. Since 2015, the Company has accelerated its diversification process by welcoming new brands and products. 1947 2005 2017 202
Slide 7: Strategic Positioning
1. Company overview 7 STRATEGIC POSITIONING Neodecortech is positioned in a segment characterized by a diversified offer of high-quality products, oriented towards a “design” range and far from the mass market. + HIGH Small niche Big diversified PRICE producers groups - LIMITED PRODUCT OFFERING RANG
Slide 8: Integrated Business Model
1. Company overview 8 INTEGRATED BUSINESS MODEL The Group oversees the entire decorative paper production process — from paper manufacturing to surface finishing, impregnation, final product, and end-of-line logistics. Its production facilities are fully integrated with an energy plant, offering sig
Slide 9: Diversified Portfolio of 1000+ Decors
1. Company overview 9 DIVERSIFIED PORTFOLIO OF 1000+ DECORS A wide range of solutions divided into 8 families Micro Top EOSTP Finish Foil Decor Paper Melamine Films Thin Top EOSLAMINATO Thin Top Melamine Films PPF for Luxury Vinyl Tiles
Slide 10: Strong Brands for a Complete Made in Italy Offer
1. Company overview 10 STRONG BRANDS FOR A COMPLETE MADE IN ITALY OFFER • Base paper • Printed decorative papers (DEC) • Unicolors • Melamine-impregnated papers (MEL) • Balancing paper • Finish-foils mainly for the furniture, laminate • Underlay flooring and camper/caravan segments (FINISH) • EOS Th
Slide 11: Sustainable Use of Resources & Circular Economy
1. Company overview 11 SUSTAINABLE USE OF RESOURCES & CIRCULAR ECONOMY Vertical integration benefits based on the circular economy approach PAPER THERMOPLASTIC FILM PRODUCTION PRODUCTION PVC & PET PRODUCERS PAPER WASTE THERMOPLASTIC FILM RECYCLE WASTE RECYCLE 100% of fuel used by the BEG power plant
Slide 12: 2. Financial results
2. Financial results
Slide 13: H1 2025 – Key Financials
2. Financial results 13 H1 2025 – KEY FINANCIALS € 90.4 M € 9.2 M 10.2% +6.0% vs H1 2024 +34.3% vs H1 2024 from 8.1% in H1 2024 REVENUES EBITDA EBITDA MARGIN € 2.8 M € 36.7 M - € 1.8M vs June 30, 2024 399 +129.6% vs H1 2024 NET RESULT NFP EMPLOYEES
Slide 14: Q2 2025 – Key Financials
2. Financial results 14 Q2 2025 – KEY FINANCIALS € 46.8 M € 5.2 M 11.1% € 2.0 M +10.9% vs Q2 2024 +44.4% vs Q2 2024 from 8.5% in Q2 2024 > +200% vs Q2 2024 REVENUES EBITDA EBITDA MARGIN NET RESULT
Slide 15: Net Sales and Sales Mix H1
2. Financial results 15 NET SALES - €/M SALES MIX H1 2024 – H1 2025 H1 2025 Net Sales (€/M) End uses Geography (excluded BEG*) 100 90,4 5,5% Americas 90 85,3 4,0% Asia & 0,7% Africa 80 Middle East 9,2% Flooring 70 34,9 35,4 60 0,1 50 40 28,5 31,5 30 20 26,9 90,8% Furniture 39,4% Italy 10 18,4 50,4%
Slide 16: Net Sales Q2
2. Financial results 16 NET SALES - €/M Q2 2024 – Q2 2025 Net Sales (€/M) 50 46,8 42,2 40 18,3 17,9 30 0,1 € 46.8 M 13,8 +10.9% vs Q2 2024 20 15,1 10 14,6 REVENUES 9,2 0 Q2 2024 Q2 2025 Energy - BEG Decor Paper - CDG Printed Paper - China Printed Paper - NDT
Slide 17: EBITDA & EBITDA Margin H1
2. Financial results 17 EBITDA & EBITDA MARGIN (*)- €/M H1 2024 – H1 2025 100 10 20% 9,2 90 9 80 8 6,9 15% 70 7 60,5 60 6 10,2% 50 5 10% 94,5 8,1% 40 4 30 3 13,2 5% 20 2 11,6 10 1 9,2 0 0 0% Revenues Raw Material Other operating Personnel cost EBITDA H1 2024 H1 2025 (incl. Δ in Inventories of Consum
Slide 18: EBITDA & EBITDA Margin Q2
2. Financial results 18 EBITDA & EBITDA MARGIN (*)- €/M Q2 2024 – Q2 2025 6 20% 5,2 5 15% 4 3,6 11,1% € 5.2 M 3 8,5% 10% +44.4% vs Q2 2024 2 5% 1 EBITDA 0 0% Q2 2024 Q2 2025 EBITDA margin
Slide 19: EBIT & Net Income H1
2. Financial results 19 EBIT & NET INCOME - €/M H1 2024 – H1 2025 EBIT NET INCOME 5 8% 3 2,8 6% 4,3 5% 4 6% 2 4% 4,8% 3 2,4 3,1% 4% 3% 1,2 2 2,9% 1 2% 2% 1,4% 1 1% 0 0% 0 0% H1 2024 H1 2025 H1 2024 H1 2025 EBIT margin NET INCOME margin
Slide 20: EBIT & Net Income Q2
2. Financial results 20 EBIT & NET INCOME - €/M Q2 2024 – Q2 2025 EBIT NET INCOME 3 2,8 10% 3 10% 8% 8% 2,0 2 2 6,0% 6% 6% 1,2 4,3% 4% 4% 1 2,8% 1 0,6 2% 2% 1,4% 0 0% 0 0% Q2 2024 Q2 2025 Q2 2024 Q2 2025 EBIT margin NET INCOME margin
Slide 21: Net Financial Position
2. Financial results 21 NET FINANCIAL POSITION - €/M H1 2024 – H1 2025 38,5 36,7 33,1 15,8 23,2 Non Current Debt 20,0 H1 2024 H1 2025 NFP 38,5 36,7 20,9 Current Debt EBITDA ROLLING 11,6 19,0 15,3 13,1 NFP / EBITDA 3,3 1,9 H1 2024 FY 2024 H1 2025
Slide 22: Cash Flow Analysis
2. Financial results 22 CASH FLOW ANALYSIS - €/M H1 2024 – H1 2025 20 4,8 9,4 2,2 15 3,7 0,3 10 3,3 12,5 2,1 5 5,5 0 Cash 31/12/2024 Operational Cash NWC Changes Other Changes Capex Intangible Banks Debts and Dividents Payment Cash 30/06/2025 flow Leasing At 2024 the Group not yet collected the cred
Slide 23: 3. Future Outlook & Growth Strategy
3. Future outlook & Growth strategy
Slide 24: Future Outlook
3. Future outlook & Growth strategy 24 FUTURE OUTLOOK Geopolitical context: remains complex (Ukraine, Middle East, USA– China), with potential impacts on strategic raw materials (pulp, titanium dioxide, animal by-products) Further push to enrich the product offering Orders: early signs of recovery E
Slide 25: Growth Strategy
3. Future outlook & Growth strategy 25 GROWTH STRATEGY Focus on higher-margin products (laminates, films) Key project on Kraft paper Switch to EU rapeseed & RUCO (Refined Used Cooking Oil)
Slide 26: 4. ESG Approach
4. ESG approach
Slide 27: 2030 UN Sustainable Development Goals
4. ESG approach 27 2030 UN SUSTAINABLE DEVELOPMENT GOALS Neodecortech has identified 13 targets it can tangibly contribute to through its own businesses and production environ- ment, identifying for each one commitments and performance indicators. 1 2 3 4 5 6 Good health and No poverty Zero hunger w
Slide 28: Carbon Neutrality
4. ESG approach 28 CARBON NEUTRALITY From 2023 onward the Group is Carbon neutral scope 1 + 2 2024 Neutralization and Offsetting (Scope 1+2) -35.7% versus 2023 30.000 20.000 10.000 20.955 18.879 0 -2.076 0 -10.000 -18.770 -18.879 -20.000 BEG Contribution and PV OFFSETTING Program OFFSETTING Program
Slide 29: Certifications
4. ESG approach 29 CERTIFICATIONS System certifications Product certifications 9001:2015 14001:2015 *Neodecortech S.p.A. only 45001:2018 50001:2018 **Cartiere di Guarcino S.p.A. only **Cartiere di Guarcino S.p.A. only
Slide 30: ESG Ratings
4. ESG approach 30 RATINGS score score score score 92% 92.3% 86.6% A A- B B- C C- D D- May 2025 February 2024 May 2025 December 2023 top performer score score score leader green A BCDE conscious yellow builder red Deloitte May 2025 July 2024 June 2025 October 2024
Slide 31: Disclaimer
DISCLAIMER This document has been prepared by Neodecortech S.p.A. (“NEODECORTECH”) NEODECORTECH expressly disclaims any obligation or undertaking to disseminate any solely for use in connection with the presentation of the Company to potential investors and updates or revisions to any forward-lookin
Slide 32: Appendix
Appendix Shareholders and market data ESG Highlights Financial Results Key Contacts
Slide 33: Adoption of Best Practice in Transparency and Corporate Governance
1. Company overview 33 ADOPTION OF BEST PRACTICE IN TRANSPARENCY AND CORPORATE GOVERNANCE Since 2021, the Company has been listed on the STAR segment of Euronext Milan and is committed to fulfill strict requirements, in terms of liquidity, transparency and corporate governance. PRIVATE COMPANY 26.09
Slide 34: Environmental Highlights
Appendix 34 ENVIRONMENTAL Highlights at 31.12.2024 20,955 tonnes CO2 Confirmation of 1,120,882 GJ 100% Scope 1 + Scope 2 emissions carbon neutrality Energy consumption electricity from renewable Location based Scope 1 + Scope 2 (-0.5% versus 2023) sources since 2017 (-35.7% versus 2023) 1,643 Milion
Slide 35: Social Highlights
Appendix 35 SOCIAL Highlights at 31.12.2024 398 40% 13 96% employees of new hires under 30 different nationalities in of employees with (in line with 2023) the company full-time contracts (in line with 2023) 15,571 hours 11 scholarships granted 11 trainees from technical 1 manufacturing of training
Slide 36: Governance & Compliance Highlights
Appendix 36 GOVERNANCE & COMPLIANCE Highlights at 31.12.2024 Balance 0% 0% 59% of Spending on between genders in cybersecurity incidents reports of local suppliers corporate bodies (Introduction of the Security wrongdoings (in line with 2023) (for the least represented gender 44% Operation Center (S
Slide 37: Income Statement
Appendix 37 INCOME STATEMENT H1 2025 – H1 2024 (Euro thousands) 30 June 2025 % 30 June 2024 % Change Change % Revenue from sales and services 90.425 100,0% 85.285 100,0% 5.140 6,0% Changes in work in progress, semi-finished and finished products 3.166 3,5% 734 0,9% 2.432 331,3% Other revenue 919 1,0
Slide 38: Balance Sheet Statement – Assets
Appendix 38 BALANCE SHEET STATEMENT – ASSETS H1 2025 – FY 2024 Assets (Euro thousands) 30 June 2025 % 31 December 2024 % Change Change % Intangible assets 3.190 1,8% 3.317 1,9% (127) (3,8%) Tangible assets 73.767 41,8% 74.480 42,9% (713) (1,0%) Equity investments 0 0,0% 0 0,0% 0 0 Other non-current
Slide 39: Balance Sheet Statement – Equity and Liabilities
Appendix 39 BALANCE SHEET STATEMENT – EQUITY AND LIABILITIES H1 2025 – FY 2024 Equity and liabilities (Euro thousands) 30 June 2025 % 31 December 2024 % Change Change % Share capital 18.804 10,7% 18.804 10,8% 0 0,0% Share premium reserve 18.864 10,7% 18.864 10,9% 0 0,0% Other reserves 31.937 18,1% 3
Slide 40: Net Financial Position
Appendix 40 NET FINANCIAL POSITION H1 2025 – H1 2024 (Euro thousands) 30 June 2025 30 June 2024 Change A. Cash funds 5.485 6.322 (837) B. Cash and cash equivalents 0 0 0 C. Other current financial assets 0 6 (6) D. Cash (A+ B + C) 5.485 6.328 (843) E. Current financial debt (17.363) (12.700) (4.663)
Slide 41: Consolidated Debt Maturity
Appendix 41 CONSOLIDATED DEBT MATURITY at 30 June 2025 Debt Repayment plan (€/ M) One covenants on CDG long term debts 9 8,3 8 27% Fixed rate 7 6,3 6 5 4,7 4 3,7 3 2 1 0,9 73% 0,4 Variable rate 0 2025 2026 2027 2028 2029 2030 Long term ROD: 3,2%
Slide 42: Key Contacts
Appendix 42 KEY CONTACTS ISSUER INVESTOR RELATIONS INVESTOR RELATIONS SUPPORT SPECIALIST Luigi Cologni – CEO & Investor relator Mara Di Giorgio Lorenzo Edmondo Bondi Marina Fumagalli - CFO Email: mara@twin.services Email: lorenzoedmondo.bondi@bper.it Federico Bagatella Email: investor.relations@neod
Slide 43: Decors and surfaces for sustainable living
Decors and surfaces for sustainable living.