Cavriago (RE), March 9, 2026 - Landi Renzo S.p.A. (the "Company" and, jointly with its subsidiaries, the "Group" or the "Landi Renzo Group"), in compliance with the request of Consob pursuant to art. 114, paragraph 5 of Legislative Decree no. 58/1998 ("TUF") received on September 17, 2024, makes public the following additional information relating to the "unaudited" preliminary financial results as of December 31, 2025 of Landi Renzo Group.
As already explained in the press release of February 13, 2026, in such date the extension of the negotiated settlement of the crisis ("CNC") was approved for the Company and for its subsidiary Metatron S.p.A. for a further period of 180 days. The extension is intended to allow the finalization of the ongoing restructuring process, which was initiated following the filing of the CNC application on August 7, 2025. Consequently, as of today, the Company's separate financial statements and the Group's consolidated financial statements as of December 31, 2024, the subsequent Interim management reports and the Company's separate financial statements and the Group's consolidated financial statements as of December 31, 2025, have not been approved yet by the Board of Directors.
Discussions with the banking class are ongoing and preparatory activities concerning the business plan are continuing.
Net financial position of the Company and of the Group it heads, with short-term components disclosed separately from medium/long-term componentsAs of December 31, 2025, Landi Renzo S.p.A.'s net financial position amounted to Euro 85,105 thousand, of which Euro 5,044 thousand was medium-long term and Euro 80,061 thousand short term.
(Thousands of Euro) | |||||
31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | |
A. Cash | 7,989 | 5,498 | 9,628 | 12,675 | 24,947 |
B. Cash equivalents | 0 | 0 | 0 | 0 | 0 |
C. Other current financial assets | 2,587 | 3,032 | 3,226 | 2,950 | 2,100 |
D. Financial liquidity (A + B + C) | 10,576 | 8,530 | 12,854 | 15,625 | 27,047 |
E. Current financial liabilities | -83,115 | -83,987 | -84,159 | -12,518 | -15,961 |
F. Current portion of non-current financial liabilities | -7,522 | -5,711 | -5,760 | -7,520 | -7,790 |
G. Current financial liabilities (E + F) | -90,637 | -89,698 | -89,919 | -20,038 | -23,751 |
H. Net current financial liabilities (G - D) | -80,061 | -81,168 | -77,065 | -4,413 | 3,296 |
I. Non-current financial liabilities | -5,044 | -7,707 | -8,254 | -79,168 | -79,966 |
J. Debt instruments | 0 | 0 | 0 | 0 | 0 |
K. Trade payables and other non-current payables | 0 | 0 | 0 | 0 | 0 |
L. Non-current financial debt (I + J + K) | -5,044 | -7,707 | -8,254 | -79,168 | -79,966 |
M. Net financial debt (H + L) | -85,105 | -88,875 | -85,319 | -83,581 | -76,670 |
As of December 31, 2025, Landi Renzo Group's net financial position amounted to Euro 100,330 thousand, of which Euro 14,023 thousand was medium-long term and Euro 86,307 thousand was short term.
(Thousands of Euro) | |||||
31/12/2025 | 30/09/2025 | 30/06/2025 | 31/03/2025 | 31/12/2024 | |
A. Cash | 23,364 | 17,500 | 22,885 | 25,437 | 43,128 |
B. Cash equivalents | 0 | 0 | 0 | 0 | 0 |
C. Other current financial assets | 701 | 1,037 | 981 | 749 | 801 |
D. Financial liquidity (A + B + C) | 24,065 | 18,537 | 23,866 | 26,186 | 43,929 |
E. Current financial liabilities | -98,011 | -96,074 | -95,754 | -24,747 | -28,867 |
F. Current portion of non-current financial liabilities | -12,361 | -11,274 | -11,836 | -14,378 | -14,740 |
G. Current financial liabilities (E + F) | -110,372 | -107,348 | -107,590 | -39,125 | -43,607 |
H. Net current financial liabilities (G - D) | -86,307 | -88,811 | -83,724 | -12,939 | 322 |
I. Non-current financial liabilities | -11,722 | -15,034 | -17,132 | -89,234 | -90,722 |
J. Debt instruments | -1,750 | -1,748 | -2,621 | -2,618 | -3,493 |
K. Trade payables and other non-current payables | -551 | -536 | -524 | -553 | -611 |
L. Non-current financial debt (I + J + K) | -14,023 | -17,318 | -20,277 | -92,405 | -94,826 |
M. Net financial debt (H + L) | -100,330 | -106,129 | -104,001 | -105,344 | -94,504 |
Given the initiation of the CNC procedure for Landi Renzo S.p.A. and its subsidiary Metatron S.p.A., and the related need to finalize the business plan and to proceed with a renegotiation of the existing debt with the banking class, in whose context the Company submitted as of July 2, 2025, a request to its banking class for a moratorium and standstill, given the impossibility of meeting its contractual commitments and financial covenants relating to certain medium/long-term loan agreements on time, from June 30, 2025, the relevant financial debts were reclassified in full as short-term liabilities for the purposes of presentation in the financial statements in accordance with IAS/IFRS international accounting principles.
The overdue debt positions of the Company and of the Group it heads, divided by type (financial, commercial, tax, social security and towards employees) and any related creditor reaction initiatives (solicitation, injunctions, supply suspensions, etc.)As of December 31, 2025, Landi Renzo Sp.A.'s overdue debt positions towards third parties were equal to Euro 16,148 thousand in total (Euro 8,043 thousand as of December 31, 2024), distributed as follows:
overdue financial debts for an amount equal to Euro 9,056 thousand (no overdue financial debt as of December 31, 2024) relating to the installments and related interest on loans Pool of Landi Renzo S.p.A. (of which Euro 3,308 thousand due as of December 31, 2025);
overdue commercial debts for an amount equal to Euro 7,092 thousand (Euro 8,043 thousand as of December 31, 2024).
(thousands of Euro) Debts by days overdue 0-60 61-90 91-120 121-180 Over 180 Financial debts 5,313 429 3,314 | Total overdue 9,056 | |||||
Trade Payables | 2,826 | 1,512 | 763 | 149 | 1,842 | 7,092 |
Social security liabilities | ||||||
Debts to employees | ||||||
Tax Payables | ||||||
Total | 8,139 | 1,512 | 1,192 | 149 | 5,156 | 16,148 |
As of December 31, 2025, Landi Renzo Group's overdue debt positions towards third parties were equal to Euro 23,678 thousand (Euro 16,487 thousand as of December 31, 2024), distributed as follows:
overdue financial debts for an amount equal to Euro 9,345 thousand (no overdue financial debt as of December 31, 2024), relating to the installments and related interest on loans Pool of Landi Renzo S.p.A. (of which Euro 3,308 thousand due on December 31, 2025) and certain Metatron S.p.A. loans (for the total amount of Euro 289 thousand, of which Euro 11 thousand due on December 31, 2025);
overdue commercial debts for an amount equal to Euro 14,333 thousand (Euro 16,487 thousand as of December 31, 2024).
(thousands of Euro) Debts by days overdue 0-60 61-90 91-120 121-180 Over 180 Financial debts 5,403 49 479 100 3,314 | Total overdue 9,345 | |||||
Trade Payables | 5,221 | 2,328 | 1,635 | 1,076 | 4,073 | 14,333 |
Social security liabilities | ||||||
Debts to employees | ||||||
Tax Payables | ||||||
Total | 10,624 | 2,377 | 2,114 | 1,176 | 7,387 | 23,678 |
It is noted that the above-mentioned overdue trade payables past due as of December 31, 2025 include Euro 861 thousand relating to the related party Gireimm S.r.l., company directly controlled by the relevant shareholder, and relating to invoices for rent for the Landi Renzo S.p.A. headquarters, whose payments are suspended in the context of the aforementioned CNC.
The Company has contested the defectiveness of its products to a German supplier, which was confirmed by the findings of expert investigations carried out as part of the preliminary technical consultation procedure specifically initiated in Italy. Consequently, by way of self defence, the Company has suspended all payments to said supplier who, denying liability, at the beginning of April 2025 initiated a lawsuit in Germany for the assessment of its alleged credit, equal to approximately Euro 766 thousand in principal (of which Euro 572 thousand for invoices issued, included in the overdue trade payables, and Euro 194 thousand for materials not delivered to the Company), plus interest and legal costs, and the condemnation of the Company to pay the same. The Company filed a defense, arguing, among other things, that the German court lacked jurisdiction, prompting the German supplier to withdraw the lawsuit.
As of today, we have no record of injunctions received in relation to the aforementioned debt positions and no supply suspensions have been implemented that would compromise normal business operations.
As of December 31, 2025, there are no overdue tax, social security, or employee debt positions, either for the Company or for the Group.
Main changes in related party transactions of the Company and of the Group it heads with respect to the latest annual or half-year financial report approved pursuant to Article 154-ter of the Italian Consolidated Law on Finance (TUF)Details of transactions with related parties of Landi Renzo S.p.A. at December 31, 2025 are provided below.
(thousands of Euro)
Right- Receivables Payables Financial Revenues Financial of-use and other Financial and liabilities and Costs and income assets assets Receivables other and operation depreciation (expenses) liabilities leasing income | ||||||||
Gestimm S.r.l. | 925 | -296 | -976 | -588 | -39 | |||
Gireimm S.r.l. | 875 | -1,512 | -880 | -875 | -81 | |||
Total parent companies | 1,800 | 0 | 0 | -1,808 | -1,856 | 0 | -1,463 | -120 |
SAFE SpA | 251 | -38 | 269 | |||||
Landi Renzo Polska | 6,257 | -270 | 3,725 | -357 | ||||
Beijing Landi Renzo Cina | 17 | -408 | 5 | |||||
LR Industria e comercio Ltda | 1,549 | 390 | ||||||
Landi Renzo Pars | 216 | -216 | -24 | 10 | ||||
Landi Renzo Ro Srl | 4,512 | -721 | 225 | -170 | ||||
Landi Technologies Inc. | 343 | -210 | 203 | -70 | ||||
AEB America | 1,333 | -189 | 450 | |||||
Landi Renzo RUS | 829 | -18 | ||||||
Metatron SpA | 519 | 2,350 | -80 | 158 | -436 | |||
Metatron Control System ltd | 1,869 | -270 | 1,851 | -274 | ||||
Total subsidiaries companies | 0 | 17,695 | 2,350 | -2,402 | 0 | 7,276 | -1,349 | 10 |
Krishna Landi Renzo India Priv. Ltd | 7,053 | -55 | 6,948 | 15 | ||||
Tamburi investment partner | -395 | |||||||
Total other related companies | 0 | 7,053 | 0 | -450 | 0 | 6,948 | 0 | 15 |
TOTAL | 1,800 | 24,748 | 2,350 | -4,660 | -1,856 | 14,224 | -2,812 | -95 |
It is noted that the preliminary financial results of Landi Renzo S.p.A. as of December 31, 2025, include provisions for risks on equity investments for some Euro 12 million concerning provisions made to cover losses recorded by some subsidiaries.
In light of the fact that as of today the Company's separate financial statements and the Group's consolidated financial statements as of December 31, 2024, the subsequent Interim management reports and the Company's separate financial statements and the Group's consolidated financial statements as of December 31, 2025, of Landi Renzo S.p.A. have not been approved by the Board of Directors, and that the auditing activities by the audit firm are still on-going, the above provisions may be subject to change prior to the relevant approval of the Board of Directors of the Company.
Details of transactions with related parties of Landi Renzo Group at December 31, 2025 are provided below.
(thousands of Euro)
Right- Receivables Payables Financial Revenues Financial of-use and other Financial and other liabilities and Costs and income assets assets Receivables liabilities and leasing operation depreciation (expenses) income | |||||||
Gestimm S.r.l. | 925 | -296 | -976 | -588 | -39 | ||
Gireimm S.r.l. | 1,323 | -1,809 | -1,368 | -1,344 | -91 | ||
Total parent companies | 2,248 | -2,105 | -2,344 | -1,932 | -130 | ||
Krishna Landi Renzo India Priv. Ltd | 7,053 | -55 | 6,948 | 15 | |||
Tamburi investment partner | -395 | ||||||
Reggio Properties LCC | 96 | -47 | -101 | -96 | -4 | ||
Clean Energy Fuels Corp. | 643 | -459 | 3,987 | ||||
Total other related companies | 96 | 7,696 | -956 | -101 | 10,935 | -96 | 11 |
TOTAL | 2,344 | 7,696 | -3,061 | -2,445 | 10,935 | -2,028 | -119 |
Transactions with related parties, both of Landi Renzo S.p.A. and Landi Renzo Group, are neither classified as atypical nor as unusual, as they are part of the ordinary business activities of the companies of the Group. Such transactions are regulated at market conditions, taking into account the characteristics of the goods and services provided.
No significant changes have been detected in relations with related parties compared to the previous communication.
With regard to the requests regarding "any failure to comply with covenants, negative pledges and any other clause of the Group's indebtedness involving limits on the use of financial resources, with an upto-date description of the degree of compliance with these clauses" and "the status of the implementation of the Economic and Financial Plan, highlighting the deviations of the actual figures