Racing Force Spa · MIL:RFG

Racing Force Spa — FY2025 Earnings Presentation

32 slides from Racing Force Spa's earnings presentation, Mar 26, 2026

  1. Slide 1: 2025 Annual Results

    2025 Annual Results March 26, 2026

  2. Slide 2: Disclaimer

    DISCLAIMER This document may contain forward-looking statements based on assessments and estimates. By their nature, such statements involve significant risks and uncertainties, as well as factors beyond the Company’s control or ability to predict. These forward-looking statements should not be rega

  3. Slide 3: A successful performance in a challenging global economic environment

    A SUCCESSFUL PERFORMANCE IN A CHALLENGING GLOBAL ECONOMIC ENVIRONMENT 2025 KEY FINANCIALS (€m) 2025, A YEAR OF VICTORIES AND GLOBAL SUCCESS 10Y SALES CAGR: 13.4% FY25 Adj EBITDA 5Y SALES CAGR: 16.8% MARGIN 17.5% 73.1 (vs 16.0% in FY24) +11.4% 83.4% Cash Conversion 20.8 €0.095 proposed Dividend per s

  4. Slide 4: Economic and Financial Data

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  5. Slide 5: +11.4% FY25 sales growth

    +11.4% FY 25 SALES GROWTH (12.3% at constant FX rate) Revenues €m) and Seasonality (%) FY25 Revenues Breakdown and Variance vs FY24 Strong acceleration with double-digit sales growth from H2, following high level of order intake since the beginning of the year OTHER 8% CAR PARTS Driver’s Equip. ▲ +6

  6. Slide 6: +230 bps Gross Margin

    +230 bps Gross Margin GROSS PROFIT (€m) and Margin (%) CHANGE in GROSS PROFIT (€m) Sharp expansion in both Gross Profit value (+€6.2m) and Growth driven by volumes, sales mix and higher efficiency of operations, following the Marginality (+230 bps) completion of the investment plan launched at the e

  7. Slide 7: 17.5% Adj EBITDA Margin

    17.5% ADJ EBITDA MARGIN Adj EBITDA (€m) and Margin (%) CHANGE in Adj EBITDA (€m) Record-high Adj EBITDA in Group history Adj EBITDA growth driven by Gross Margin expansion, net of higher G&A from organizational +21.2% YoY Growth and 19% CAGR 2020-2025 strengthening and S&D expenses mainly due to vol

  8. Slide 8: Adj Net Income Margin

    Adj NET INCOME MARGIN Adj NET INCOME (€m) and Margin (%) CHANGE in Adj NET INCOME (€m) +6.2% increase in Adj Net Income €7.2m Adj Net Income (9.8% Margin), excluding unrealized FX on ICO balances 9.0% 8.6% +0.4 -€0.9 m unrealized FX on ICO RACING FORCE GROUP - 2025 Annual Results ECONOMIC AND FINANC

  9. Slide 9: Capex and Net Working Capital

    CAPEX AND NET WORKING CAPITAL CAPEX (€m) NET WORKING CAPITAL (€m) Investment Plan launched at the end of 2022 successfully completed, Higher Inventory, mainly for raw materials, balanced by higher A/P; including new R&D and production laboratories, machinery and equipment A/R increase following stro

  10. Slide 10: Strong cash generation driven by a solid operating performance

    STRONG CASH GENERATION DRIVEN BY A SOLID OPERATING PERFORMANCE CASH FLOW from Operations (€m) and Cash conversion (%) CHANGE in NET FINANCIAL POSITION (€m) Robust cash generation from operations, further improved compared to Net Cash €2.2m at 2025 year-end, excluding non-recurring CAPEX absorption p

  11. Slide 11: Motorsport Outlook

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  12. Slide 12: Motorsport Outlook

    MOTORSPORT OUTLOOK SALES TREND (€m) BRAND EXPOSURE RECORD Q1 26 SALES EXPECTED, STRONG BRAND EXPOSURE AND VISIBILITY SUPPORTED BY FOLLOWING STRONG MOMENTUM VICTORIES IN FIRST RACES OF THE MAIN 2026 CHAMPIONSHIPS: H2 25 (+20%) • F1 (Mercedes-AMG PETRONAS F1 Team: Australia and China) • WRC (Toyota Ga

  13. Slide 13: Communication Technologies Outlook

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  14. Slide 14: Zeronoise

    ZERONOISE ZERONOISE DEVICES ZN COMMS SERVICES New clients in 2026, also thanks to the CLEARVOICE 2026 CLEARVOICE PRODUCT RANGE technology. DRIVER’S EYE & COP'S EYE Driver’s Eye 2026 season started with the new multi-year agreement with FOCUS ON OFFROAD SERIES Fox to cover all Indycar events. The Cop

  15. Slide 15: Corporate Apparel Outlook

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  16. Slide 16: Racing Spirit: the choice of a growing number of customers

    RACING SPIRIT: THE CHOICE OF A GROWING NUMBER OF CUSTOMERS +22.3% Sales Increased Brand SOME OF OUR MAIN PARTNERSHIPS Growth in FY25 Recognition vs prior year, with following 2025 a significant victories in main increase of the sailing competitions: number of Barcolana,151 customers in Miglia, Porto

  17. Slide 17: Milipol Projects Outlook

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  18. Slide 18: HPS: Lift Airforce Helmet

    HPS: LIFT AIRFORCE HELMET TECHNOLOGY TRANSFER SAFETY PERFORMANCE PROCESS IMPACT ABSORPTION WEIGHT – SIZE - FITTING FROM HANDCRAFTING TO WATERJET PRECISION NEXT MILESTONES Starting Summer 2026 2023 2025 2026 - 2027 Final product definition and first Start of sales (first partial delivery in Q1 25) Ra

  19. Slide 19: HPS: Police Riot Helmet RH1.0

    HPS: POLICE RIOT HELMET RH1.0 MAIN TECHNICAL FEATURES • RIOT helmet developed according to TR 2011 for a Modular System – Protective Helmet, Communication System, Respirator Mask • Lightweight shell with FR coating for optimized shock and stab protection, 3 shell sizes • Exchangeable anti-bacterial

  20. Slide 20: HPS: Gladiator Helmet

    HPS: GLADIATOR HELMET MAIN TECHNICAL FEATURES • SWAT helmet developed according to TR 2010 Ballistic Helmet, VPAM and NATO standards • Optimized shell design for full compatibility with headset and chemical, biological, radiological, and nuclear protection mask (CBRN) and state- of-the-art night vis

  21. Slide 21: 2026 Outlook

    RACING FORCE GROUP 2025 Annual Results ECONOMIC AND FINANCIAL DATA MOTORSPORT OUTLOOK COMMUNICATION TECHNOLOGIES OUTLOOK CORPORATE APPAREL OUTLOOK MILIPOL PROJECTS OUTLOOK 2026 OUTLOOK

  22. Slide 22: 2026 Outlook

    2026 OUTLOOK Amid geo-political tensions in Middle East, RFG factory in Bahrain is fully operative Limited impact on logistics with alternative routes already identified and used Monitoring the evolution of Middle East situation and related impacts on cost inflation Positive 2026 growth outlook supp

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Racing Force Group — FY2025 Earnings Presentation on 6ix