Magis S.p.a. · MIL:MGS
Magis — H1 2026 Earnings Presentation
29 slides from Magis's earnings presentation, Sep 29, 2026
Slide 1: H1 2026 Business Results
H1 2026 Business Results 29 September 2026
Slide 2: Disclaimer
Disclaimer The information contained in this presentation (the “Presentation”) has been prepared by Magis S.p.A. (the “Company” or “Magis”) for the sole purpose of the presentation made to you concerning the Company. This Presentation and the information contained herein are strictly confidential. D
Slide 3: Agenda
Agenda Key Messages 2025 RESULTS COMPANY PROFILE H1 2026 - Results REFERENCE MARKET Company Profile APPENDIX – FINANCIAL INSTRUMENTS 3
Slide 4: Key Messages
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Slide 5: Outlook & Investment
Outlook & Investment Hot-Melt coating line – go-live Jan-2027: replaces legacy assets; improves efficiency and product quality while significantly increasing production capacity; ESG-aligned. Body Care capacity – by YE: addi onal machinery in opera on to support structural demand growth. Operational
Slide 6: Strategic Actions to support growth
Strategic Actions to support growth Four complementary strategic strengths supporting the Group’s growth trajectory 01 ✦ 02 03 04 ◎ Flexible capacity Modern industrial Innovation Strategic positioning allocation platform R & D & P AT E N T S O P E R AT I O N AL F L E X I B I L I T Y TECHNOLOGY & EFF
Slide 7: Strategic Actions to support growth: Adhesive Tapes
Strategic Actions to support growth Adhesive Tapes Focus on consolidating our position in the European market, particularly on high value-added products such as printed tapes and specialty solutions. Strengthening our portfolio by prioritizing premium and differentiated items that enhance margins an
Slide 8: Strategic Actions to support growth: Body Care
Strategic Actions to support growth Body Care Consolidate our position in strategic markets In Europe, growth in the incontinence segment driven by the rising average age of the population allows Magis to maintain a stable presence, supported by high flexibility and rapid responsiveness to strategic
Slide 9: H1 2026 Results
cer H1 2026 Results
Slide 10: Highlights
Highlights A challenging first half of 2026, marked by a significant increase in raw material costs. However, we were able to fully pass these increases on to our customers. Profitability & Cash: 13% EBITDA margin and €5,6m Net Cash at the end of H1 2026, despite Capex investments. Share Buyback Pro
Slide 11: H1 2026 - KPIs
H1 2026 - KPIs Revenues (€'m) 43,2 REVENUES Slight growth driven by Adhesive Tapes, while Body Care remained stable. 40,4 H1 2025A H1 2026A EBITDA (€'m) EBITDA 5,5 4,3 Solid growth supported by a better mix of higher-margin products H1 2025A H1 2026A 11
Slide 12: H1 2026 - KPIs
H1 2026 - KPIs EBITDA % 12,6% 10,4% EBITDA MARGIN Margin improvement driven by product mix and effective cost pass-through. H1 2025A H1 2026A NET FINANCIAL POSITION NFP (€'m) Solid financial position despite ongoing CapEx investments. (5,6) (7,5) 2025A H1 2026A * Notes: EBITDA % = EBITDA/(Revenues f
Slide 13: Revenue Breakdown
Revenue Breakdown Revenues by Revenues by product Geographic Area Italy Body Care 34% Others 27% 36% Adhesive tapes 73% UK Germany 6% 9% France Adhesive tapes Body Care 15% Italy Germany France UK Others 13
Slide 14: Revenue Breakdown
Revenue Breakdown Revenues by Revenues by product Geographic Area H1 2025-26 BODY CARE -3,05% H1 2025-26 ADHESIVE TAPE +11,00% 14
Slide 15: Revenue Breakdown by Product – H1 2025-2026
Revenue Breakdown by Product – H1 2025-2026 50 +6,90% € mln H1 2025 H1 2026 45 43,2 40,4 40 35 30 25 20 +11,22% +5,40% +18,07% -2,70% +27,83% -38,10% 15 12,5 11,2 10,4 9,9 10 8,9 7,5 7,4 7,2 5 2,9 2,3 2,1 1,3 0 Plain tapes Printed tapes Speciality tapes Side Tapes Frontal Landing Other Tigil Total A
Slide 16: Net Working Capital
Net Working Capital € mln Trade receivables 17,7 13,7 An increase in trade receivables reflects a normalization 1,4 2,3 18,4 in our customers' average payment behavior and payments terms. 13,7 Inventories 13,6 15,6 Inventories increase as a significant portion mainly driven by effect (11,7) (12,8) (
Slide 17: NFP Evolution H1 2026
NFP EVOLUTION H1 2026 € mln Source: Management 17
Slide 18: P&L H1 2026 – ITA GAAP
P&L H1 2026 – ITA GAAP Revenue Increased from €40.4 million in H1 2025 to €43,2 million in H1 2026. Growth was mainly driven by the Adhesive Tapes division, while Body Care remained PROFIT AND LOSS ACCOUNT stable. The result was also supported by a better product mix and our ability to H1 2025 H1 20
Slide 19: Balance Sheet H1 2026 ITA GAAP
Balance Sheet H1 2026 ITA GAAP BALANCE SHEET 2025A H1 2026 Intangible fixed assets 2.878 2.646 Tangible fixed assets 21.614 21.763 Financial fixed assets 5 - Net Working Capital Total fixed assets 24.498 24.409 Inventories 13.616 15.583 Working capital increased compared with year-end 2025, mainly T
Slide 20: Cash Flow H1 2026
Cash Flow H1 2026 OCF € 502K of generated as operating cash flow, CASH FLOW 2025A H1 2026 which is influenced by Nwc, mainly due to EBIT 5.079 3.744 payments terms Current, deferred and prepaid income taxes for the (1.175) (1.000) year Ammortisation, depreciation and write downs 3.522 1.750 Capex -
Slide 21: Company Profile
21 Company Profile
Slide 22: Shareholders
Shareholders TIGIL S.r.l.* 3,19% Mercato 29,46% ALEMA S.rl. 28,72% Lazard Frères Gestion S.A.S. 5,20% ALI – IPO Club 5,91% FRAMA S.r.l. 27,52% TIGIL S.r.l.* ALEMA S.rl. FRAMA S.r.l. ALI – IPO Club Lazard Frères Gestion S.A.S. Mercato 22
Slide 23: Our Governance Model
Our Governance Model Area Manager 23
Slide 24: Positioning along the value chain
Positioning along the value chain Full control of the production process — from raw materials to end markets 01 SOURCING 02 PRODUCTION 03 GO-TO-MARKET 04 END MARKETS Raw materials Italy Logistics 100% IN-HOUSE B2B & B2C business relations Adhesive inputs Rubbers · resins · oils Printing & coating Fo
Slide 25: Product Portfolio
Product Portfolio Two complementary platforms serving packaging and personal-care applications ADHESIVE TAPES 73% BODY CARE 27% Revenues H1 20265 Revenues H1 2026 BOPP / BOPET DUCT / PAPER MOPP / FREEZER SIDE TAPE FRONTAL / LANDING WRAP / DISPOSAL Repair · protection · Industrial assembly & Front cl
Slide 26: Competitive landscape
Competitive landscape Main product competitors across Adhesive Tapes and Body Care ADHESIVE TAPES BODY CARE Closure systems and components for baby & adult hygiene European manufacturers with direct overlap in packaging, masking and specialty tapes applications Avery Lohmann-Koester NAR PPM Industri
Slide 27: Competitive Positioning
Competitive Positioning BROAD PORTFOLIO Broad product coverage across core, specialty and personal-care tape technologies CUSTOM / COMPANY SUSTAINABLE CORE TAPES SPECIALTY TAPES PERSONAL CARE SOLVENT Customised Acrylic Hot Melt Recycled PET Security Freezer Duct Strapping Side Loop Solvent Magis S.p
Slide 28: Sustainability is already embedded in Magis' product portfolio and operating model
ESG positioning Sustainability is already embedded in Magis’ product portfolio and operating model A differentiated platform combining sustainable products, responsible operations and governance — with further upside from the industry shift away from virgin plastic. PATEN TED SUSTAIN ABL E TAPE 10 0
Slide 29: MGS
MGS EURONEXT GROWTH — be MRS HAS