Neodecortech Spa · MIL:NDT
Neodecortech Spa — Mid&Small - Milan (December 2025)
45 slides from Neodecortech Spa's conference presentation, Dec 3, 2025
Slide 1: Investor Presentation Mid&Small - Milan
INVESTOR PRESENTATION Mid&Small - Milan December 3, 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. Q3 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 Spilbergo (PN) Lamin ation 75+ YEARS OF INTEGRATED BUSINESS Filago (BG) Printin g, Impre
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 1991 2005 201
Slide 7: Acquisition of Lamitex
1. Company overview 7 MORE THAN 75 YEARS OF EXPERIENCE THAT DOESN’T STOP Neodecortech recently announced the acquisition of Lamitex S.p.A, an Italian company that creates and produce innovative decorative laminates for the furniture and interior architecture sector, with a strong focus on aesthetic
Slide 8: Strategic Positioning
1. Company overview 8 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 9: Integrated Business Model
1. Company overview 9 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 10: Diversified Portfolio of 1000+ Decors
1. Company overview 10 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 11: Strong Brands for a Complete Made in Italy Offer
1. Company overview 11 STRONG BRANDS FOR A COMPLETE MADE IN ITALY OFFER • Base paper • Printed decorative papers (DEC) • EOS Thermo Plastic (rPET) • Unicolors • Melamine-impregnated papers (MEL) • Polymeric printed films (PPF) addressed • Balancing paper • Finish-foils mainly for the furniture, to t
Slide 12: Sustainable Use of Resources & Circular Economy
1. Company overview 12 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 13: 2. Financial results
2. Financial results
Slide 14: 9M 2025 – Key Financials
2. Financial results 14 9M 2025 – KEY FINANCIALS € 138.3 M € 15.7 M 11.4% +13.8% +16.7 M +41.5% +4.6 M from 9.1% vs 9M 2024 vs 9M 2024 in 9M 2024 REVENUES EBITDA EBITDA MARGIN € 5.2 M € 34.7 M +144.4% +3.1 M -4.4 M 397 vs 9M 2024 vs Sept. 30, 2024 NET RESULT NFP EMPLOYEES
Slide 15: FY 2024 Key Financials After Lamitex Acquisition
2. Financial results 15 FY 2024 – KEY FINANCIALS AFTER LAMITEX ACQUISITION (Euro thousands) NEODECORTECH GROUP LAMITEX PROFORMA 31 December 2024 31 December 2024 31 December 2024 Revenues 168.575 12.761 181.336 EBITDA 16.633 1.772 18.405 EBIT 7.484 1.039 8.523 Profit Before Tax 5.177 903 6.080 Net I
Slide 16: Accelerating Growth Momentum
2. Financial results 16 ACCELERATING GROWTH MOMENTUM REVENUES EBITDA 50 46.8 47.9 8 43.6 7 6.5 40 6 5.2 5 30 4.0 4 20 3 2 10 +1.2% +10.9% +11.7% +21.2% +44.4% +54.8% Q1-24 Q2-24 Q3-24 1 Q1-24 Q2-24 Q3-24 0 0 Q1 2025 Q2 2025 Q3 2025 Q1 2025 Q2 2025 Q3 2025 NET RESULT EBITDA MARGIN 3 2.4 2.0 13.6% 2 1
Slide 17: Net Sales and Sales Mix 9M
2. Financial results 17 NET SALES - €/M SALES MIX 9M 2024 – 9M 2025 9M 2025 Net Sales (€/M) End uses Geography (excluded BEG*) 150 138,3 140 5,5% Americas 130 121,5 4,1% Asia & 1,1% Africa 120 Middle East 9,2% Flooring 110 51.8 38,6% Italy 100 48.6 90 0.2 80 70 38.6 60 50 41.7 40 30 20 47.7 31.2 90,
Slide 18: Net Sales Q3
2. Financial results 18 NET SALES - €/M Q3 2024 – Q3 2025 Net Sales (€/M) 50 47,9 40 36,2 16.9 0.1 30 13.2 € 47.9 M 10.1 +32.3% +11.7 M vs Q3 2024 20 10.2 10 20.8 REVENUES 12.8 0 Q3 2024 Q3 2025 Energy - BEG Decor Paper - CDG Printed Paper - China Printed Paper - NDT
Slide 19: EBITDA & EBITDA Margin 9M
2. Financial results 19 EBITDA & EBITDA MARGIN (*)- €/M 9M 2024 – 9M 2025 160 17 20% 15.7 16 140 15 14 120 13 15% 12 11.1 11 100 87.1 10 11.4% 9 80 8 9.1% 10% 139.4 7 60 6 5 40 20.0 5% 4 3 20 16.6 2 15.7 1 0 0 0% Revenues Raw Material Other operating Personnel cost EBITDA 9M 2024 9M 2025 (incl. Δ in
Slide 20: EBITDA & EBITDA Margin Q3
2. Financial results 20 EBITDA & EBITDA MARGIN (*)- €/M Q3 2024 – Q3 2025 7 30% 6.5 6 25% 5 4.2 20% € 6.5 M 4 +54.8% +2.3 M 13.6% 15% 3 11.6% vs Q3 2024 10% 2 5% EBITDA 1 0 0% Q3 2024 Q3 2025 EBITDA margin
Slide 21: EBIT & Net Income 9M
2. Financial results 21 EBIT & NET INCOME - €/M 9M 2024 – 9M 2025 EBIT NET INCOME 8 7.5 8% 6 8% 5.2 7 7% 5 6 6% 6% 5.4% 4 5 4.4 5% 4 3.6% 4% 3 3.8% 4% 2.1 3 3% 2 2 2% 1.8% 2% 1 1 1% 0 0% 0 0% 9M 2024 9M 2025 9M 2024 9M 2025 EBIT margin NET INCO ME margin
Slide 22: EBIT & Net Income Q3
2. Financial results 22 EBIT & NET INCOME - €/M Q3 2024 – Q3 2025 EBIT NET INCOME 4 15% 3 12% 13% 3.2 2.4 10% 3 11% 2 8% 9% 2.0 6.7% 2 7% 6% 5.5% 5.0% 5% 0.9 1 4% 1 3% 2.5% 2% 1% 0 -1 % 0 0% Q3 2024 Q3 2025 Q3 2024 Q3 2025 EBIT margin NET INCO ME margin
Slide 23: Net Financial Position
2. Financial results 23 NET FINANCIAL POSITION - €/M 9M 2024 – 9M 2025 39,1 34,7 33,1 22.5 Non Current Debt 20.6 20.0 9M 2024 9M 2025 NFP 39,1 34,7 Current Debt EBITDA ROLLING 13,2 21,2 16.6 13.1 14.1 NFP / EBITDA 3,0 1,6 9M 2024 FY 2024 9M 2025
Slide 24: Cash Flow Analysis
2. Financial results 24 CASH FLOW ANALYSIS - €/M 2024 – 9M 2025 30 25 9,1 20 16.4 1,3 5.3 15 0.4 0.5 2.0 10 12.5 5 10.3 0 Cash 31/12/2024 Operational Cash NWC Changes Other Changes Capex Intangible Banks Debts and Dividents Payment Cash 30/09/2025 flow Leasing At 2024 the Group not yet collected the
Slide 25: 3. Future Outlook & Growth Strategy
3. Future outlook & Growth strategy
Slide 26: Future Outlook
3. Future outlook & Growth strategy 26 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: sligt slowdown Energy cost
Slide 27: Growth Strategy
3. Future outlook & Growth strategy 27 GROWTH STRATEGY Focus on higher-margin products (laminates, films) Key project on Kraft paper Switch to EU rapeseed & RUCO (Refined Used Cooking Oil)
Slide 28: 4. ESG Approach
4. ESG approach
Slide 29: 2030 UN Sustainable Development Goals
4. ESG approach 29 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 Go od health and No poverty Zero hunger
Slide 30: Carbon Neutrality
4. ESG approach 30 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 -1 0,000 -18,770 -18,879 -2 0,000 BEG Contr ibution and PV OFFSETTING Pr ogram OFFSETTING Prog
Slide 31: Certifications
4. ESG approach 31 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 32: Ratings
4. ESG approach 32 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 2025
Slide 33: Disclaimer
DISCLAIMER This document has been prepared by Neodecortech S.p.A. (“NEO DECORTECH”) NEODECORTECH expressly disclaims any obligation or undert aking to disseminate any solely for use in connection with the presentation of the Company to potent ial invest ors and updates or revisions to any forward-lo
Slide 34: Appendix
Appendix Shareholders and market data ESG Highlights Financial Results Key Contacts
Slide 35: Best Practice in Transparency and Corporate Governance
1. Company overview 35 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. PRIVA TE COMPA NY 26.
Slide 36: Environmental Highlights
Appendix 36 ENVIRONMENTAL Highlights at 31.12.2024 20,955 tonnes CO 2 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 Milio
Slide 37: Social Highlights
Appendix 37 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 38: Governance & Compliance Highlights
Appendix 38 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 39: Income Statement
Appendix 39 INCOME STATEMENT M9 2025 – M9 2024 (Euro thousands) 30 Sept. 2025 % 30 Sept. 2024 % Change Change % Revenue from sales and services 138.291 100,0% 121.546 100,0% 16.745 13,8% Changes in work in progress, semi-finished and finished products (52) (0,0%) 1.842 1,5% (1.894) (102,8%) Other re
Slide 40: Balance Sheet Statement – Assets
Appendix 40 BALANCE SHEET STATEMENT – ASSETS M9 2025 – FY 2024 Assets (Euro thousands) 30 Sept. 2025 % 31 December 2024 % Change Change % Intangible assets 3.130 1,8% 3.317 1,9% (187) (5,6%) Tangible assets 72.169 41,5% 74.480 42,9% (2.311) (3,1%) Equity investments 1 0,0% 0 0,0% 1 0,0% Other non-cu
Slide 41: Balance Sheet Statement – Equity and Liabilities
Appendix 41 BALANCE SHEET STATEMENT – EQUITY AND LIABILITIES M9 2025 – FY 2024 Equity and liabilities (Euro thousands) 30 Sept. 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 31.801 18,1%
Slide 42: Net Financial Position
Appendix 42 NET FINANCIAL POSITION M9 2025 – M9 2024 (Euro thousands) 30 Sept. 2025 30 Sept. 2024 Change A. Cash funds 10.267 7.300 2.967 B. Cash and cash equivalents 0 0 0 C. Other current financial assets 0 0 0 D. Cash (A+ B + C) 10.267 7.300 2.967 E. Current financial debt (15.358) (14.473) (885)
Slide 43: Consolidated Debt Maturity at 30 September 2025
Appendix 43 CONSOLIDATED DEBT MATURITY at 30 September 2025 Debt Repayment plan (€/ M) One covenants on CDG long term debts 10 9,4 9 21% 8 Fixed rate 7 6 6.8 5 4 8.7 7.4 3 4.9 2 1 2.6 2.1 1.5 1.2 0.9 0 2025 2026 2027 2028 2029 2030 2031 2032 79% Variable rate To be refounded Refounded weighted avera
Slide 44: Key Contacts
Appendix 44 KEY CONTACTS ISSUER INVESTOR AND MEDIA RELATIONS INVESTOR RELATIONS SUPPORT SPECIALIST Luigi Cologni – CEO & Investor Mara Di Giorgio Lorenzo Edmondo Bondi relator Marina Fumagalli - CFO Federico Bagatella Lorenzo Morelli Email: Email: Elena Filippi lorenzoedmondo.bondi@bper.it investor.
Slide 45: Neodecortech – Decors and surfaces for sustainable living
NEO DECOR TECH Decors and surfaces for sustainable living.