Slide 1: Q1 2026 Results
Q1 2026 Results Milan, May 5th 2026
Slide 2: Disclaimer
Disclaimer The following applies to this document, the oral presentation of the information in this document by Amplifon S.p.A. (the “Company”), and any question-and-answer session that follows the oral presentation (collectively, the “Information”). In accessing the Information, you agree to be bou
Slide 3: Q1 2026 Highlights
Q1 2026 Highlights Turning the corner: back to solid organic growth on last year initiatives and investments. Record Q1 profitability on high comps. Strong momentum through the quarter Revenues EBITDA Adjusted Net Profit Adjusted 580m€ 142m€ 44m€ +2.2% organic growth Margin at 24.5% Margin at 7.7% +
Slide 4: Financial highlights
Q1 2026 Financial highlights Back to solid organic growth on last year initiatives and investments. Record Q1 profitability on high comps, driven by strong Fit4Growth early results. Strong momentum through the quarter Revenue growth at constant FX at +0.8% vs. Q1 2025 Data in €m Q1 2026 Q1 2025 Δ%
Slide 5: Financial results by Region: EMEA
Financial results by Region EMEA: Positive organic growth with acceleration through the quarter. Excellent profitability improvement on high comps Revenue performance at constant FX flattish vs. Q1 2025 Data in €m Q1 2026 Q1 2025 Δ% Positive organic performance, accelerating through the quarter
Slide 6: Financial results by Region: Americas
Financial results by Region AMERICAS: Excellent organic growth, well above-market, coupled with a very strong profitability improvement. Material FX headwind Revenue growth at constant FX at +1.1% vs. Q1 2025 Data in €m Q1 2026 Q1 2025 Δ% Excellent organic growth at +6.7% - Broad-based performan
Slide 7: Financial results by Region: APAC
Financial results by Region APAC: Very strong organic growth, well above-market, coupled with a strong profitability improvement Revenue growth at constant FX at +4.6% vs. Q1 2025 Data in €m Q1 2026 Q1 2025 Δ% Very strong organic growth at +4.8%, improving 400bps vs Q4 REVENUES 87.4 85.8 +1.9% 2
Slide 8: Financial results
Q1 2026 Financial results Profitability benefiting also from strong Fit4Growth early results Data in €m (unless specified) Q1 2026 Q1 2025 ∆ 26/25 REVENUES 579.8 587.8 -1.4% EBITDA Adj. 141.8 140.4 +1.0% Margin % 24.5% 23.9% -- D&A (64.3) (66.6) +3.5% EBIT Adj. 77.5 73.8 +5.0% Margin % 13.4% 12.6% -
Slide 9: Financial results: free cash flow
Q1 2026 Financial results Solid free cash flow adjusted at 23.6 million euros Data in €m Q1 2026 Q1 2025 ∆ Operating cash flow before repayment of lease liabilities adjusted (*) 78.8 85.9 (7.1) Repayment of lease liabilities (34.3) (33.8) (0.5) Operating cash flow adjusted (*) 44.5 52.1 (7.6) Capex
Slide 10: Financial results: leverage
Q1 2026 Financial results Leverage down to 1.84x, after net investments of 11 million euros, including 21 million euros in Capex Data in €m 31/03/2026 31/12/2025 Liquidity (309.6) (308.9) Short-term debt 708.6 366.4 Medium/long-term debt 615.6 988.0 Net financial debt 1,014.6 1,045.5 Lease liabiliti
Slide 11: Outlook 2026
Outlook 2026 Turning the corner: momentum building into Q2 During 2025, we implemented meaningful initiatives and invested substantially to accelerate future revenue growth and structurally enhance profitability In Q1 2026, the early impact of these initiatives and investments began to materiali
Slide 12: Annex
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Slide 13: Reported financials
Q1 2026 Reported financials Data in €m (unless specified) Q1 2026 Q1 2025 ∆ 26/25 REVENUES 579.8 587.8 -1.4% EBITDA 131.9 140.8 -6.3% Margin % 22.7% 24.0% -- ORDINARY D&A (63.8) (66.7) +4.2% PPA AMORTIZATION (11.6) (12.7) +8.9% EBIT 56.5 61.4 -8.0% Margin % 9.7% 10.5% -- NET FINANCIAL EXPENSES (33.3
Slide 14: Alternative Performance Measures - adjustments
Alternative Performance Measures - adjustments Alternative Performance Measures exclude the impact of unusual, infrequent or unrelated items to the normal course of business including Transaction and integration costs for acquisitions and changes in earn-out Charges and write-off related to re
Slide 15: Q1 2026 Reconciliation to consolidated financial statements
Q1 2026 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 131.9 56.5 10.5 Transaction and integration costs for the acquisition of GN Hearing 6.2 6.2 6.2 Transaction and integration costs for other acquisitions and
Slide 16: Q1 2025 Reconciliation to consolidated financial statements
Q1 2025 Reconciliation to consolidated financial statements Data in €m EBITDA EBIT Net Profit IFRS Financial Statements Measures (as reported) 140.8 61.4 32.9 Transaction and integration costs for acquisitions and changes in earn-out (0.4) (0.4) (0.4) Charges and write-off related to reorganization,
Slide 17: 2026 Financial Calendar
2026 Financial Calendar Corporate events March 4th: FY 2025 Results April 23rd: Shareholder’s General Meeting May 5th: Q1 2026 Results July 30th: Q2 & H1 2026 Results October 29th: Q3 & 9M 2026 Results © Amplifon S.p.A. May 5th, 2026 17
Slide 18: Investor Relations & Sustainability Contacts
Investor Relations & Sustainability Contacts FRANCESCA RAMBAUDI AMANDA HART GIRALDI OLGA LEPECHKINA Investor Relations & Sustainability Sr Director Investor Relations Manager Assistant Tel: +39 02 5747 2261 Tel: +39 02 5747 2317 Tel: +39 02 5747 2542 francesca.rambaudi@amplifon.com amanda.giraldi@am