PRESS RELEASE
FRANCHI UMBERTO MARMI S.P.A.: THE BOARD OF DIRECTORS APPROVES THE DRAFT CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2025 - PERFORMANCE ABOVE MARKET CONSENSUS ESTIMATES AT TOP LINE AND NFP LEVEL PARTICULARLY POSITIVE REVENUE TREND IN THE LAST QUARTER, +11% YoY (vs Q4 2024) TOTAL REVENUES AND OTHER INCOME FOR THE 2025 FINANCIAL YEAR AT EURO 78.6 MILLION, WITH EBITDA MARGIN AT 27.4% - NET PROFIT EQUAL TO EURO 8.5 MILLION - STRONG CASH GENERATION AND CONSEQUENT IMPROVEMENT IN NFP (NET DEBT FOR EURO 16.5 MILLION)- Total Revenues and other income as of December 31, 2025: Euro 78.6 million (Euro 81.7 million for the year ended December 31,2024), with a strong growth in Revenues in the last quarter, +11% YoY. The excellent trend in Asia is confirmed, while Europe is still weak;
- EBITDA for the year ended December 31, 202 equal to Euro 20.8 million with an EBITDA Margin at 27.4% of Total revenues (compared to Euro 25.3 million as of December 31, 2024);
- Profit for the year ended December 31, 2025 equal to Euro 8.5 million;
- Operating cash flow for the year ended December 31, 2025 equal to Euro 20.2 million and consequent improvement in Net Financial Debt equal to Euro 16.5 million (Euro compared to 33.7 million as of December 31, 2024 and Euro 28.2 million as of June 30, 2025);
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Carrara, March 24, 2026 - The Board of Directs of Franchi Umberto Marmi S.p.A., international leading company in the sector of processing and marketing of Carrara marble, listed on the Euronext Growth Milan market (Ticker: FUM) (the "Company"), approved the draft consolidated financial statements as of and for the year ended December 31, 2025, prepared in accordance with International Financial Reporting Standards (IFRS).
Alberto Franchi, President and CEO of the Company, commented:"During 2025, we generated particularly significant cash flow, thus strengthening our financial flexibility and laying a solid foundation to decisively seize new growth opportunities, both through organic development initiatives and selective M&A transactions. We closed a strong fourth quarter, exceeding our expectations, which allowed us to achieve a significant top-line recovery, despite 2025 being a challenging year.
Our General Manager, Carlo Varni, has just returned from the China Xiamen International Stone Fair 2026, a key event for the stone industry, and our presence there represented a crucial opportunity, once again, to showcase the excellence of Italian marble and FUM's unwavering commitment to innovation.
The overall performance of the financial year, with the maintenance of the high margins that distinguish FUM, confirms the Group's resilience and the solidity of our fundamentals. On a strategic level, this result further strengthens our commitment to the continuous enhancement and promotion of our materials, with a priority focus on the EMEA, Asian, and North American markets, which remain central pillars of our development and key levers for consolidating our brand positioning. Despite the international scenario being once again challenging, we continue to strengthen relationships and at the same time develop new opportunities, with the utmost commitment."
BUSINESS TREND KEY RESULTS Total revenues and other income as of December 31, 2025 amounted to Euro 78.6 million compared to Euro 81.7 million in 2024. In particular, regarding Total Revenues alone, it should be noted that the last quarter recorded the strong recovery hoped for (+11.3% YoY), thanks in particular to the excellent recovery of the Asian market. The EMEA area is still weak, with Revenues equal to Euro 35.6 million compared to Euro 42.8 million as of December 31, 2024. FUM's second largest market, Asia, made a significant conribution with Revenues equal to Euro 16.1 million,+7.8% compared to FY 2024 and with an increase of over 227% over the last quarter, thanks in particular to an excellent performance in China. North America recorded Revenues equal to Euro
13.9 million, fairly in line with those of the same period in 2024 (Euro 15.3 million). Finally, also the result achieved in Australia, Africa and South America, was very significant for FY 2025, with Total revenues of Euro 10.6 million, recording a strong increase compared to Euro 6.9 million as of December 31, 2024.As of December 31, 2025, EBITDA was equal to Euro 20.8 million with EBITDA Margin at 27.4% of Total Revenues (compared to Euro 25.3 million as of December 31, 2024); it should be noted that the slight decrease is mainly attributable to FUM's acquisitions in recent years which, despite demonstrating an excellent financial and strategic profile, are slightly dilutive compared to the margins of Franchi Umberto Marmi S.p.A. "stand alone", presenting a product mix with a slightly lower margin.
The Operating Result reached Euro 12.7 million compared to Euro 16.5 million in the same period of the previous year, due to some write-downs on receivables in addition to those described above;
as a consequence, the Profit for the 2025 financial year was equal to Euro 8.5 million , with a significant margin on Total Revenues equal to 11% (Euro 11.3 million in 2024).
MAIN EQUITY AND FINANCIAL RESULTS Net Working Capital as of December 31, 2025 amounts to Euro 55.3 million, recording a decrease compared to Euro 61.3 million as of December 31, 2024, mainly as a result of a reduction in inventories and trade receivables. Investments in tangible and intangible assets as of December 31, 2025 amounted to Euro 2.8 million, compared to Euro 6.6 million in the previous year, significantly decreasing due to the conclusion of real estate investments and the related restructuring by all three subsidiaries.The excellent cash generation, with an Operating Cash Flow equal to Euro 20.2 million, more than offset the dividend payment made during the year equal to Euro 3.3 million and the repayment of loans of Euro 8.0 million. Consequently, Net Financial Debt as of December 31, 2025 amounts to Euro 16.5 million , compared to Euro 33.7 million as of December 31, 2024 and Euro 28.2 million as of June 30, 2025.
The 2025 financial year closed with Liquidity equal to Euro 18.1 million, recording an increase compared to Euro 13.1 million in 2024. Net Equity reached Euro 132.4 million, up from Euro 128.1 million as of December 31, 2024.
Significant Events as of December 31, 2025 and subsequent periodNothing to report.
OutlookThe Company plans to continue on its growth path, with particular attention to potential M&A transactions that could facilitate the Group's further commercial development.
The ongoing turbulent events affecting the international scenario, together with the slowdown in demand affecting the luxury market and the postponement of major projects, especially public ones, have impacted the Group's performance in the 2025 financial year. The recent tensions that have erupted in the Middle East, centered in Iran, and the resulting difficulties in reaching by ship the Gulf countries make the short-term scenario even more challenging. The Group's commercial efforts remain focused primarily on key markets such as EMEA, Asia and North America, where a recovery is expected during 2026.
Allocation of the net profitIt should be noted that the Board of Directors has proposed to allocate the operating profit of Euro 7,397,060 entirely to the profit reserve.
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This press release is available on the company's website at https://www.fum.it/en/investors/price-sensitive-press-release/ and through the authorized storage mechanism EMARKET STORAGE (https://www.emarketstorage.com).
The draft financial statements as of December 31, 2025, will be made available to the public within the timeframe required by law at the company's headquarters, at Borsa Italiana, and on the website https://www.fum.it/en/investors/financial-documents/.
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Franchi Umberto Marmi, established in 1971, is a leader in the processing and marketing of blocks and slabs of Carrara marble, a natural stone that perfectly embodies Italian craftsmanship and luxury, with special characteristics that make it unique in Italy and in the rest of the world. The Company covers all phases of the production and distribution process, thus guaranteeing the absolute quality of the product, whether it is slabs or entire blocks. The activity is mainly concentrated within the 59,000 square meters of the Carrara headquarters, which make it the largest exhibition space dedicated to Carrara marble.***
Contacts
Franchi Umberto Marmi S.p.A.
Alantra HEAR-ir:
Euronext Growth Advisor IR & Media Relations
Via del Bravo n. 14 Simona D'Agostino
54033 Carrara (MS) Tel: +39 3346267243 simona.dagostino@hear-ir.com
Tel: +39 0585 70057 Tel: +39 335 7729138
investor@fum.it ega@alantra.com Luca Macario luca.macario@hear-ir.com
Corporate website: https://www.fum.it Tel: +39 335 7478179
CONSOLIDATED INCOME STATEMENT AS OF DECEMBER 31, 2025
(Amounts in Euro) | For the year ended December 31, 2025 | For the year ended December 31, 2024 |
Revenues | 75.058.205 | 75.834.581 |
Other Income | 2.534.455 | 1.885.405 |
Total revenues and other income | 78.552.555 | 81.721.385 |
Purchase of raw materials, consumables, goods and changes in inventory | (35.755.025) | (35.584.515) |
Costs for services | (15.381.352) | (15.725.355) |
Personnel costs | (5.251.055) | (4.780.151) |
Other operating costs | (451.000) | (484.054) |
Amortization and depreciation | (8.105.535) | (8.775.458) |
Impairment of trade receivables | (1.288.732) | (853.171) |
Gain/(loss) from investments accounted for using the equity method | 455.738 | 533.735 |
Revaluation/(devaluation) of investments | (50.000) | 37.831 |
Operating result | 12.725.253 | 15.474.758 |
Financial income | 1.150.155 | 748.345 |
Financial expenses | (1.043.870) | (1.335.185) |
Foreign exchange losses | (575.017) | (45.535) |
Profit before taxes | 12.255.522 | 15.840.420 |
Income taxes | (3.724.413) | (4.545.751) |
Profit for the year | 8.531.105 | 11.250.555 |
Attributable to: | ||
Shareholders of the Parent Company | 7.117.552 | 10.410.254 |
Non-controlling interests | 1.413.547 | 880.375 |
Basic and diluted earnings per share | 0,22 | 0,32 |