Fine Foods & Pharmaceuticals N.t.m. Spa · MIL:FF
Fine Foods & Pharmaceuticals N.t.m. Spa — 9M 2025 Earnings Presentation
35 slides from Fine Foods & Pharmaceuticals N.t.m. Spa's earnings presentation, Nov 6, 2025
Slide 1: 9M 2025 Results Presentation
9M 2025 RESULTS PRESENTATION 06/11/2025
Slide 2: Index
FINE FOODS 9M 2025 INDEX RESULTS PRESENTATION 2 3 1 2 Index WE CREATE FINANCIALS SHAREHOLDING VALUE STRUCTURE & CORPORATE GOVERNANCE 4 5 INVESTOR BACK UP INFORMATION ESG DETAILS & CONTACTS
Slide 3: We Create Value
FINE FOODS 9M 2025 RESULTS PRESENTATION 3 WE CREATE VALUE
Slide 4: Italian leading independent CSDMO
FINE FOODS 9M 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 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 5 Fine Foods Italian independent CSDMO active >70,000 sqm of covered area at a glance in the nutraceutical, pharmaceutical and cosmetic industries through 3 Business Units on a total area of more than 200,000 sqm 3 specialized plants all locate
Slide 6: European reference markets
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 6 European €BN reference 1000 markets* 995.7 826.3 648.8 6.5% 10.0% 8.6% 4.7% 6.9% 549.9 829.3 Pharma 375.3 691.4 539.5 445.5 2.1% 1.5% 7.4% 5.3% 3.8% 286.9 141.1 Cosmetics *Sources: Euromonitor 114.8 International, Industrial, 90.0 92.6 Pharma
Slide 7: Consistently outperforming reference markets
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 7 Consistently European Vitamins & Dietary supplements Fine Foods outperforming Revenue European Pharmaceuticals 243.8 €M European Cosmetics reference Fine Foods markets* Fine Foods Revenue 93.8 €M 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 8: Flexible and integrated business model
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 8 Flexible NUTRACEUTICALS AND COSMETICS and integrated Concept Regulatory Formulation Production Distribution business Development Compliance model 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 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 9 R&D for efficient and OPPORTUNITY LAB high-quality Formulae databank ➝ Wide range of ready-to-use product formulations product development Using different approaches, based on NUTRACEUTICALS & COSMETICS INNOVATION LAB Innovative products ➝ A
Slide 10: What we do
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 10 What PHARMACEUTICAL NUTRA / PHARMA COSMETICS we do FORMS Cross-fertilised innovation is Capsules Tablets Powders Granules Liquids Creams Gels Toothpaste Parfum implemented by & Lotions exploiting our expertise in different fields, best PACKA
Slide 11: Customers' loyalty
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 11 2025 2020 Customers’ 2010 loyalty 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 12: Selection of products
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 12 Selection of products
Slide 13: Our Commitment to Quality, Safety and Sustainability
FINE FOODS 9M 2025 WE CREATE VALUE RESULTS PRESENTATION 13 Our Commitment to Quality, Safety and RATING ESG Sustainability Membro Sedex dal 2016 (BU Nutra) CERTIFICAZIONI AUTORIZZAZIONI PRODOTTI SPECIFICI HALAL KOSHER
Slide 14: Financials
FINE FOODS 9M 2025 RESULTS PRESENTATION 14 FINANCIALS
Slide 15: 9M 2025 Executive Summary
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 15 9M 2025 Executive Summary REVENUE ADJ EBITDA ADJ NET INCOME €M 30.5 €M 189.7 +30.2% vs 9M 2024 €M 12.7 +7.1% vs. 9M 2024 ADJ EBITDA MARGIN +84.8% vs 9M 2024 16.1% (+290 bps) CAPEX NET DEBT DIVIDENDS PAID IN 2025 €M 50.1 €M 28.3 €M 3.4 Extraordina
Slide 16: 9M 2025 BUs Revenue Breakdown
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 16 9M 2025 BUs Revenue Breakdown 9M 2025 FY 2024 9M 2024 Cosmetics Cosmetics Cosmetics 12.5% 10.6% 11.0% Pharma 33.1% 54.4% Pharma 31.1% Pharma 31.1% 58.3% 57.8% Nutra Nutra Nutra 9M 2025 Revenue amounted to €M 189.7, up by (€M) 9M 2025 9M 2024 Var
Slide 17: 9M 2025 Main Financials Results Overview
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 17 9M 2025 Main Financials Results Overview 9M 2025 Consolidated Revenue reached €M 189.7, Var vs % vs up +7.1% compared to 9M 2024 (€M) 9M 2025 9M 2024 9M 2024 9M 2024 9M 2025 ADJ EBITDA rose to €M 30.5, +30.2% vs Revenue 189.7 177.2 12.5 7.1% 9M 2
Slide 18: 9M 2025 Cash flow & Net Debt
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 18 9M 2025 Cash flow & Net Debt (€M) Var. vs Cash Flow Statement (€M) 9M 2025 9M 2024 9M 2024 ADJ EBITDA 30.5 23.4 7.1 (9.7) Change in TWC 2.7 (9.7) 4.5 (14.2) Other Change in NWC 2.7 0.6 2.1 30.5 Capex (28.3) (24.3) (4.1) Operating Cash Flow (4.8)
Slide 19: TWC & CAPEX
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 19 TWC & CAPEX (€M) (€M) TRADE WORKING CAPITAL CAPEX 17.9% 13.5% 16.6% % on Sales LTM 13.7% 14.2% 14.9% % Total on pro-quota Sales 4.1% 3.6% 5.8% % Ordinary on pro-quota Sales 42.6 43.6 34.7 32.9 Trade Receivables Extraordinary capex tangibles Inven
Slide 20: Guidelines for future growth 1/2
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 20 Guidelines • All three of Fine Foods' market segments are expected to continue growing over the coming year, both at the European for future and global level growth 1/2 • Large players trend to rely on outsourcing is broadly confirmed • Fine Food
Slide 21: Guidelines for future growth 2/2
FINE FOODS 9M 2025 FINANCIALS RESULTS PRESENTATION 21 Guidelines for future growth 2/2 NUTRA BU PHARMA BU COSMETICS BU Weight management products With robust growth and rapid Following integration, reorganization transformation phase is redefining the acceleration, the FY25 BU's priority is and opti
Slide 22: Shareholding Structure & Corporate Governance
FINE FOODS 9M 2025 RESULTS PRESENTATION 22 SHAREHOLDING STRUCTURE & CORPORATE GOVERNANCE
Slide 23: Shareholding structure
FINE FOODS 9M 2025 SHAREHOLDING STRUCTURE RESULTS PRESENTATION 23 Shareholding FINE FOODS SHARES N. OF SHARES (Million) % FLOATING (ON LISTED SHARES) structure ~54.3% LISTED SHARES 22.1 86% UNLISTED SHARES* 3.5 14% As of 31.10.2025 TOTAL EQUITY CAPITAL 25.6 100% 5.4% 4.2% *Unlisted shares are Multip
Slide 24: Corporate Governance
FINE FOODS 9M 2025 SHAREHOLDING STRUCTURE RESULTS PRESENTATION 24 Corporate Governance → 4 Independent Directors → 4 Non-executive Directors Our governance is structured around an ESG responsible approach. It allows us to pursue a sustainable growth while also ensuring ENVIRONMENTAL, REMUNERATION CO
Slide 25: Investor Information & Contacts
FINE FOODS 9M 2025 RESULTS PRESENTATION 25 INVESTOR INFORMATION & CONTACTS
Slide 26: Investor Information
FINE FOODS 9M 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 26 Investor MARKET EURONEXT STAR MILAN Information ISIN CODE IT0005215329 TICKER FF INTESA SANPAOLO S.p.A. Analyst: Giada Cabrino E-mail: giada.cabrino@intesasanpaolo.com SPECIALIST Recommendation: Buy Target Price: € 12.20 Last
Slide 27: Why Fine Foods?
FINE FOODS 9M 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 27 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 >10% • Experienced • Active in attract
Slide 28: Contacts
FINE FOODS 9M 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 28 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 29: Disclaimer
FINE FOODS 9M 2025 INVESTOR INFORMATION & CONTACTS RESULTS PRESENTATION 29 Disclaimer This document has been prepared by Fine Foods & Pharmaceuticals N.T.M. S.p.A. for the sole purpose described herein. The information herein is provided on a The information contained in this document, unless otherw
Slide 30: Back Up ESG Details
FINE FOODS 9M 2025 RESULTS PRESENTATION 30 BACK UP ESG DETAILS
Slide 31: Fine Foods' Group sustainability pillars
FINE FOODS 9M 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 31 Fine Foods’ Group sustainability People pillars Environment Ethics & Governance Supply Sustainable Chain Products Land Development
Slide 32: ESG main initiatives and results
FINE FOODS 9M 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 32 ESG main initiatives Environment Social Governance and CIRCULAR ECONOMY • Programs for reduction of WE ATTRACT ~ 11,200 applications/year BOARD OF DIRECTORS • 4 Women out of 10 results environmental impact of waste • Testing new materi
Slide 33: Ratings, ESG Commitment and Certifications
FINE FOODS 9M 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 33 Ratings, ESG Commitment and Certifications RATINGS Sedex Member ESG COMMITMENT BENEFIT 231 CORPORATION Organizational, Since 2021 managerial and control New membership to the models to prevent network of companies on crimes Diversity a
Slide 34: Sustainable products
FINE FOODS 9M 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 34 OUR SERVICES Sustainable products Environmental labelling Product carbon footprint calculation Product eco-design consultation support support Support and service to develop products that provide environmental, social and economic bene
Slide 35: Suppliers' ESG management
FINE FOODS 9M 2025 BACK UP – ESG DETAILS RESULTS PRESENTATION 35 Suppliers’ ESG ENVIRONMENTAL AND SOCIAL ASSESSMENT OF OUR SUPPLIERS management 92% Value of purchases of raw materials and packaging from suppliers assessed by EcoVadis on ESG criteria 96% Value of purchases of raw materials and packag
Fine Foods & Pharmaceuticals N.T.M. — 9M 2025 Earnings Presentation on 6ix