Revenues: € 524.8 million, +0.6% compared to Q1 2025
(+2.2% on an organic basis1, mainly due to the application of rates of previous period)
EBITDA: € 114.7 million, -2.3% compared to Q1 2025,
with an EBITDA margin of 21.9% compared to 22.5% in the corresponding period of 2025
Consolidated net profit: € 57.5 million, +0.9% compared to Q1 2025
Net financial position: € 294.6 million, compared to € 291.1 million as at 31 December 2025 During the period: net investments of € 18.9 million, FCF of € 32.5 million, acquisitions of € 4.0 million and net buybacks of € 25.1 million
Executive Chairman Fulvio Montipò: "The results for the quarter are in line with expectations, with a particularly favourable performance in the Hydraulic Division. This confirms the benefits of diversifying the Group's activities and of the flexibility that characterises our operating model, including in terms of our ability to maintain excellent levels of profitability in all market environments. In light of the evidence currently available, the Group confirms, for the current financial year, an estimate of revenue variation on an organic basis ranging between +3% and -2%, and believes it will be able to maintain its margin within a range of between 22% and 22.5%".1Change with constant scope of consolidation and exchange rates.
Sant'Ilario d'Enza (RE), 15 May 2026 - The Board of Directors of Interpump Group S.p.A., which met today under the chairmanship of Mr. Fulvio Montipò, approved the Interim Report on Operations as at and for the period ended 31 March 2026 presenting the Group's consolidated results.2
CONSOLIDATED RESULTS FOR THE FIRST QUARTER OF 2026
Revenues
Revenues in Q1 2026 amounted to € 524.8 million, up to 0.6% compared to € 521.6 million in the corresponding period of 2025 (-1.7% on a constant perimeter3, +2.2% on an organic basis).
Turnover by business and geographical area was as follows:
(€/000) | Italy | Rest of Europe | North America | Far East and Oceania | Rest of World | Total |
Q1 2026 | ||||||
Hydraulic | 67,694 | 133,023 | 88,144 | 35,191 | 41,096 | 365,148 |
Water-Jetting | 18,223 | 57,577 | 47,219 | 21,092 | 15,573 | 159,684 |
Total | 85,917 | 190,600 | 135,363 | 56,283 | 56,669 | 524,832 |
Q1 2025 | ||||||
Hydraulic | 62,956 | 116,566 | 88,377 | 32,629 | 42,943 | 343,471 |
Water-Jetting | 19,777 | 57,021 | 50,298 | 35,672 | 15,336 | 178,104 |
Total | 82,733 | 173,587 | 138,675 | 68,301 | 58,279 | 521,575 |
2026/2025 percent change | ||||||
Hydraulic | +7.5% | +14.1% | -0.3% | +7.9% | -4.3% | +6.3% |
Water-Jetting | -7.9% | +1.0% | -6.1% | -40.9% | +1.5% | -10.3% |
Total | +3.8% | +9.8% | -2.4% | -17.6% | -2.8% | +0.6% |
2 Please note that the earnings and financial position figures in this press release are rounded to the nearest decimal place.
3 It should be noted that, compared with the results for the corresponding period of the previous financial year, changes in scope relate to the acquisitions completed in 2025, all pertaining to the Oil Division: Padoan Group, Tutto Hydraulicos Ltda, Borghi Assali and F.A.R.M.A. Group. The first was consolidated from July 2025, the second and third from November 2025; the latter was consolidated for balance sheet purposes only from December 2025, while its economic effects were recognised from January 2026 onwards.
The percentage changes in 2026 compared with 2025, at constant perimeter, are as follows:
(€/000) | Italy | Rest of Europe | North America | Far East and Oceania | Rest of the World | Total |
Hydraulic | +3.0% | +8.8% | -0.8% | +6.9% | -9.9% | +2.7% |
Water-Jetting | -7.9% | +1.0% | -6.2% | -40.9% | +1.4% | -10.4% |
Total | +0.4% | +6.3% | -2.8% | -18.1% | -6.9% | -1.7% |
On an organic basis, there was an increase of 2.2%, broken down into growth of 6.9% in the Hydraulic Division and a decrease of 6.9% in the Water-Jetting Division.
Profitability
EBITDA in Q1 2026 was € 114.7 million, compared to € 117.3 million in the corresponding period of the previous year, with a decrease of 2.3%, and representing 21.9% of revenues, compared with 22.5% in Q1 2025.
The following table shows EBITDA by business sector:
(€/000) | Q1 2026 | % of total revenues | Q1 2025 | % of total revenues | Change |
Hydraulic | 73,489 | 20.1% | 69,308 | 20.1% | +6.0% |
Water-Jetting | 41,208 | 25.5% | 48,035 | 26.8% | -14.2% |
Total | 114,697 | 21.9% | 117,343 | 22.5% | -2.3% |
EBIT was € 82.8 million (15.8% of revenues), compared to € 87.3 million in Q1 2025 (16.7% of revenues), with a decrease of 5.1%.
Net finance costs amounted to € 2.0 million, compared to € 9.0 million in Q1 2025. The tax rate for the period was 28.9% (27.4% in the corresponding period of 2025).
Net profit was € 57.5 million, compared to € 57.0 million in Q1 2025, with an increase of 0.9%. Basic earnings per share thus increased from € 0.531 in Q1 2025 to € 0.538 in Q1 2026.
Invested capital increased from € 2,486.2 million as at 31 December 2025 to € 2,529.6 million as at 31 March 2026.
Financial situation
Net cash generated from operations fell from € 98.5 million in Q1 2025 to € 97.6 million in Q1 2026. Free cash flow amounted to € 32.5 million (€ 29.6 million in Q1 2025), despite the continued implementation of investment plans and working capital absorption.
As at 31 March 2026, net financial position was € 294.6 million, compared to € 291.1 million as at 31 December 2025. Investments amounted to € 18.9 million, while € 25.1 million was dedicated to the purchase of treasury shares4.
As at 31 March 2026, the Group had commitments for the acquisition of stakes in subsidiaries valued at a total of € 82.2 million, compared to € 85.0 million at 31 December 2025.
At 31 March 2026 Interpump Group S.p.A. holds 3,181,087 treasury shares, representing 2.923% of share capital, acquired at an average unit cost of € 37.649.
EVENTS AFTER THE END OF THE FIRST QUARTER OF 2026
On 30 April 2026 the Shareholders' Meeting of Interpump Group S.p.A. was held and:
approved the financial statements for the 2025 financial year;
approved the proposal for the distribution of a dividend of € 0.35 per share;
authorised the Board of Directors, for a period of eighteen months from the date of the shareholders' resolution (valid until October 2027), to purchase treasury shares up to the maximum amount permitted under the regulations in force from time to time at a maximum unit price of € 65.0, as well as to dispose of treasury shares already purchased or to be purchased in the future pursuant to such authorisation;
appointed the new Board of Directors for the three-year period 2026/2028 until approval of the financial statements as at 31 December 2028, renewing the appointment of Fulvio Montipò as Chairman with executive powers; furthermore, the new Board of Directors appointed Fabio Marasi as Chief Executive Officer of the Company and established and defined the Board Committees5;in the end, the Board confirmed the appointment, following a favourable opinion from the Board of Statutory Auditors, of the Manager in charge of preparing the Company's
4 Purchases net of proceeds from the disposal of treasury shares to stock option beneficiaries. Purchases of treasury shares were made in the period from 17 February to 31 March; therefore, the outlays shown reflects purchases made exclusively in Q1 of the financial year.
5 Control and Risks Committee, Appointments Committee, Related-Party Transactions Committee, Remuneration Committee and Sustainability Committee.
financial reports pursuant to and for the purposes of Article 154-bis of the Consolidated Law on Finance;
appointed the new Board of Statutory Auditors for the three-year period 2026/2028 until approval of the financial statements as at 31 December 2028;
approved the renewal of the delegation to the Board of Directors to increase the share capital with the exclusion of pre-emption rights, pursuant to Articles 2443 and 2441, paragraph 4, of the Italian Civil Code.
BUSINESS OUTLOOK
Q1 revenue results are in line with the Group's estimates, with a particularly positive performance in the Hydraulic Division. The same consistency was recorded in April, whose revenue confirms and strengthens the trend recorded in Q1.
Consequently, despite a continuing challenging environment, the Group confirms, for the current financial year, its prudent estimate of revenue growth on an organic basis ranging between +3% and -2%.
The level of profitability achieved during the quarter, even taking into account the different contribution of the two divisions, highlights the Group's ability to contain the impact of complex market scenarios thanks to the diversification of its activities and the flexibility that characterises its operating model. For these reasons, the Group estimates that, for the current financial year, it will be able to maintain its margin within a range of between 22% and 22.5%, and to confirm robust levels of cash generation.
S. Ilario d'Enza (RE), 15 May 2026 On behalf of the Board of Directors
Executive Chairman Fulvio Montipò