1°Q 2026 Financial Results Presentation
IRCE Group - Contents
Company Profile
Highlights
The Businesses
Production Plants
Financial Results
Copper and Aluminium Price Trend
Profit and Loss Statement
Balance Sheet
Business Performance
Market Performance
Ongoing Projects
IRCE s.r.o - Czech Republic
IRCE Electromagnetic Wire Co. Ltd. - China
IRCE is a leading European Group operating in the industries of magnet wires and cables
1947
IRCE began its activity in Imola (Italy) with the production of magnet wires
1996
The Group was listed on the Italian Stock Exchange
2001
Acquisition of FD Sims Ltd (UK)
1961 | 1998 | 2007 | 2015 | 2021 | 2023 | 2025 |
Starting | Acquisition | Construction | New sales | Established | Start the | The Dutch |
The Group was listed on the Star Market Segment
2010
Acquisition of ISODRA
GmbH (Germany)
2018
Established the Company in China
2022
Sold the branch of the company located in Miradolo Terme Italy
2024
Start the construction of plant in China
production of
PVC
insulated low voltage cables
of Smit Draad Nijmegen BV (The Netherlands)
of Brazil Plant
Acquisition of Stable Magnet Wire
P. Ltd (India)
office in Poland
the Company in Czech Republic
construction of plant in Czech Republic
Company Smith Draad has ceased its activity
Company Profile - The Businesses
By Area By Business
1°Q 2026 consolidated revenue allocation
Magnet Wire
Used in applications such as electric motors and generators, transformers, compressors, inductors, and relays.
They are primarily used in the conversion of electrical energy into mechanical energy and vice versa, as well as in the adjustment of energy parameters. The main markets are automotive, white goods, electromechanical equipment, and electronics.
Energy Cables for Energy Transportation Used in the installation of electrical systems in residential and industrial buildings, as well as for powering and wiring electrical equipment. The cables produced include a complete range of low- and medium-voltage cables. The cables can be insulated with PVC, rubber, or polyethylene. The main markets are industrial sector, distribution of electrical materials and railway sector.
Company Profile - Production Plants Foreign Subsidiary
IRCE Ltda - Joinville - Brasil
ISODRA GmbH - Kierspe - Germany
FD Sims Ltd - Blackburn - United Kingdoms (UK)
IRCE S.R.O. Cechia - Ostrava - Czech Republic
Stable Magnet Wire P. Ltd. - Cochin - India
IRCE Electromagnetic Wire Co. Ltd. - Hai'an - China
Commercial societies Italy, Spain, Germany, Swisserland
Imola (BO) - Headquarters and Productive Plant
Umbertide (PG) -Productive Plant
Guglionesi (CB) -Productive Plant
Company Profile - Production Plants IRCE S.p.A. - ItalyIRCE - Foreign Subsidiary
Brazil 5. Germany
Imola
Umbertide 3. Guglionesi
6. U.K.
8. India
7. Czech
9. China
1. IRCE SpA - Headquarters
Imola - Italy
Copper and Aluminium Round Magnet Wire
and LV Energy Cables
Covered Area: 46,000 Sqm
Employees: 226
ISO 9001
IATF 16949 / ISO 14001
2. IRCE SpA
Copper and Aluminium Round Magnet Wire
Covered Area: 19,400 Sqm
ISO 9001
Umbertide - Italy
Employees: 41
3. IRCE SpA
Covered Area: 24,000 Sqm
ISO 9001
Guglionesi
- Italy
LV/MV Energy Cables
Employees: 84
4. IRCE Ltda
Copper and Aluminium Round and Rectangular Magnet Wire
Covered Area: 21,500 Sqm
ISO 9001
Joinville - Brazil Continuously Transposed Cable (CTC) Employees: 133 IATF 16949
ISODRA GmbH
Kierspe -Germany
Copper Round Magnet Wire Employees: 14
ISO 9001
6. FD Sims Ltd Blackburn - UK | Copper and Aluminium Round and Rectangular Magnet Wire | Covered Area: 7,000 Sqm Employees: 27 | ISO 9001 / IATF 16949 ISO 14001 / ISO 45001 |
7. IRCE S.R.O. Cechia | Copper and Aluminium Round and Rectangular Magnet Wire | Covered Area: 20,000 Sqm | ISO 9001 |
Ostrava -Czech Republic Employees: 28 IATF 16949
Compliance Letter
Stable Magnet Wire P. Ltd. Cochin - India
Copper Round Magnet Wire
Employees: 28 ISO 9001
IRCE Electromagnetic Wire Co. Ltd. - Hai'an (Jiangsu) - China
Copper Round and Rectangular Magnet Wire Production Area: 15,000 Sqm
Financial Results - Copper and Aluminium price trend
Financial Results - Profit and Loss Statement
Euro million Hollow turnover wires Hollow turnover cables | 1°Q 2026 | % Turn. | 1°Q 2025 | % Turn. | change % | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
15.7 4.8 | 76.7% 23.3% | 17.0 6.3 | 72.8% 27.2% | -7.2% -24.6% | 63.0 23.1 | 68.0 28.2 | 71.0 28.2 | 72.2 24.5 | |
Total hollow turnover | 20.5 | 10 0 .0 % | 23.3 | 10 0 .0 % | -12.0% | 86.1 | 96.2 | 99.2 | 96.7 |
TURNOVER (copper included) | 105.8 | 10 0 .0 % | 102.7 | 10 0 .0 % | 3.0% | 377.6 | 397.7 | 402.8 | 454.7 |
Other income | 0.4 | 0.4% | 0.7 | 0.6% | -34.1% | 3.5 | 1.8 | 1.8 | 4.9 |
TOTAL REVENUES | 106.2 | 10 0 .4 % | 103.4 | 10 0 .6 % | 2.7% | 381.1 | 399.5 | 404.6 | 459.6 |
Cost of material including change in stock | (93.1) | -88.0% | (86.9) | -84.6% | 7.2% | (293.5) | (304.1) | (314.6) | (361.9) |
Personnel costs | (7.4) | -7.0% | (8.6) | -8.4% | -14.2% | (30.5) | (35.8) | (30.5) | (30.0) |
Other costs and services | 3.8 | 3.6% | (2.6) | -2.6% | -244.2% | (39.2) | (38.7) | (38.1) | (48.3) |
EBITDA | 9.5 | 9 .0 % | 5.3 | 5.1% | 80.6% | 17.9 | 20.9 | 21.4 | 19.4 |
Depreciations and provisions | (2.8) | -2.6% | (1.7) | -1.7% | 59.7% | (7.1) | (6.4) | (7.0) | (7.8) |
EBIT | 6.8 | 6 .4 % | 3.5 | 3 .5% | 90.9% | 10.8 | 14.5 | 14.4 | 11.6 |
Copper and energy derivatives | 0.6 | 0.6% | 0.5 | 0.5% | -30.7% | 0.9 | 0.5 | 0.1 | 0.5 |
Net financial charges | (1.3) | -1.2% | (0.9) | -0.9% | 44.4% | (1.4) | (2.1) | (2.0) | (1.8) |
RESULT BEFORE TAXES (EBT) | 6.1 | 5.7% | 3.1 | 3 .0 % | 95.1% | 10.3 | 12.9 | 12.5 | 10.3 |
Taxes | (2.3) | -2.2% | (1.1) | -1.1% | 105.0% | (4.1) | (6.0) | (4.3) | (1.1) |
RESULT non-controlling interests | 3.8 | 3 .6 % | 2.0 | 2 .0 % | 89.7% | 6.2 | 6.9 | 8.2 | 9.2 |
Minorities | 0.0 | 0.0% | 0.0 | 0.0% | 0% | 0.0 | 0.0 | 0.0 | 0.0 |
RESULT OF THE PERIOD | 3.8 | 3 .6 % | 2.0 | 2 .0 % | 89.7% | 6.2 | 6.9 | 8.2 | 9.2 |
EBITDA | 9.5 | 0.1 | 5.3 | 5.1% | 80.6% | 17.9 | 20.9 | 21.4 | 19.4 |
Copper and energy derivatives | 0.6 | 0.6% | 0.5 | 0.5% | 0.9 | 0.5 | 0.1 | 0.5 | |
EBITDA Adjusted (*) | 10.1 | 9 .6 % | 5.7 | 5. 6 % | 76.5% | 18.8 | 21.4 | 21.5 | 19.9 |
Depreciation and provisions | (2.8) | -2.6% | (1.7) | -1.7% | 59.7% | (7.1) | (6.4) | (7.0) | (7.8) |
EBIT Adjusted (*) | 7.4 | 7.0 % | 4.0 | 3 .9 % | 83.8% | 11.7 | 15.0 | 14.5 | 12.1 |
(*) For a better comparison of the operating results, we have int roduced t he concepts of EBITDA and EBIT Adjust ed, that are equal to the traditional definit ions plus income or loss on copper and energy derivatives if realized. | |||||||||
ROCE (EBIT Adj. / Net Capital Employed)% | 5.6% | 7.9% | 7.6% | 6.0% | |||||
Financial Results - Balance sheet | ||||||||||
Euro million | 31 March 2026 | % | 31 Decem ber 2025 | % | 31 Decem ber 2024 | % | 31 December 2023 | % | 31 December 2022 | % |
Net w orking capital | 159.2 | 63.2% | 130.0 | 58.1% | 122.4 | 62.1% | 128.4 | 71.7% | 152.3 | 74.4% |
Fixed Assets | 100.9 | 40.1% | 100.0 | 44.7% | 86.5 | 43.9% | 59.3 | 33.1% | 51.7 | 25.2% |
Other assets and liabilities | -8.1 | -3.2% | -6.4 | -2.9% | -11.8 | -6.0% | -8.7 | -4.9% | 0.8 | 0.4% |
NET CAPITAL EMPLOYED | 252.0 10 0 .0 % | 223.6 10 0 .0 % | 197.1 10 0 .0 % | 179.0 10 0 .0 % | 204.8 10 0 .0 % | |||||
Shareholders' Equity | 162.7 | 64.6% | 156.0 | 69.8% | 150.6 | 76.4% | 153.3 | 85.6% | 144.8 | 70.7% |
Net Financial Position | 89.3 | 35.4% | 67.6 | 30.2% | 46.5 23.6% | 25.7 | 14.4% | 60.0 | 29.3% | |
FINANCING AND EQUITY | 252.0 10 0 .0 % | 223.6 10 0 .0 % | 197.1 10 0 .0 % | 179.0 10 0 .0 % | 204.8 10 0 .0 % | |||||
CAPEX | 2.7 | 19.6 | 35.0 | 14.2 | 13.6 | |||||
Financial Results - Market Performance
Ongoing Projects Plant in Ostrava (Czech Republic) Plant in Hai'an - Jiangsu (China)
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