INVESTOR PRESENTATION
Q1 2026 RESULTS
May 14, 2026
TODAY'S SPEAKERS
2
LUIGI COLOGNI - CEO, 2005
62, Degree in Business Administration, MBA from Bocconi University
Since the 1990s: gained experience in the furniture industry, working for multinational companies
Since 2005, joined Confalonieri S.p.A. (now NEODECORTECH), where he currently serves as CEO.
MARINA FUMAGALLI - CFO, 2023
48, Degree in Business Administration, Certified Public Statutory Auditor (since 2008) and Chartered Accountant (since 2021)
Since 2003, 16 years of experience in a leading audit firm (EY)
Since 2019, 4 years of experience in multinational companies in the chemical industry, operating both nationally and internationally.
INDEX 3
COMPANY OVERVIEW
Q1 2026 FINANCIAL RESULTS
FUTURE OUTLOOK & GROWTH STRATEGY
ESG APPROACH
APPENDIX
COMPANY OVERVIEW
Company overview
NEODECORTECH AT A GLANCE
FILAGO
Printing, Impregnation Lacquering, Embossing
SPILIMBERGO
Lamination
CASOLI DI ATRI (TE)
Lamination, Energy plant
GUARCINO
Energy plant, Paper mill
75+ YEARS OF EXPERIENCE
INTEGRATED BUSINESS MODEL
DIVERSIFIED PORTFOLIO OF 1000+ DESIGNS
STRONG BRANDS FOR A COMPLETE MADE IN ITALY OFFER
ADOPTION OF BEST PRACTICES IN TRANSPARENCY AND CORPORATE GOVERNANCE
Providing the interior design industry with high-end suite of solutions enhanced by distinctive Italian flair for a sustainable living
5
Business strategy ESG purpose
SUSTAINABLE USE OF RESOURCES & CIRCULAR ECONOMY
Company overview
MORE THAN 75 YEARS OF EXPERIENCE 6
A Group with a rich heritage and a broad portfolio of high-end design solutions, supported by an experienced management. Since 2015, the Company has accelerated its diversification process by welcoming new brands and products.
Confalonieri
foundation
Italian stock
exchange
1947
1960
1991
2006
2015
2017
2018
2025
2000
Massimo Giorgilli CEO of Cartiere di Guarcino
2005
Luigi Cologni CEO of Neodecortech Group
2019
TP
2022
NDT energy
2024
NDT China
Company overview
STRATEGIC POSITIONING 7
Neodecortech is positioned in a segment characterized by a diversified offer of high-quality products, oriented towards a "design"
range and far from the mass market.
+ HIGH
- LIMITED
Small niche producers
Big diversified
groups
PRICE
PRODUCT OFFERING RANGE + WIDE
Chinese
Producers
Source: Company information
- LOW
Company overview
INTEGRATED BUSINESS MODEL 8
The Group oversees the entire decorative paper production process - from paper manufacturing to surface finishing, impregnation, final product, and end-of-line logistics.
Its production facilities are fully integrated with an energy plant, offering significant competitive advantages in terms of:
OPERATING EFFICIENCY
Business continuity in case of grid outages
Virtually full coverage (90%) of power needs
COST SAVING
Significant economies of scale on energy costs (electricity and steam), generating savings of approx.
€5.0M p.a. (2025)
Company overview
DIVERSIFIED PORTFOLIO OF 1000+ DECORS 9
A wide range of solutions divided into 8 families
EOSTP
Decor Paper
CLPL® CPL
Finish Foil
Micro Top
CLPL®
Thin Top
EOSLAMINATO
Melamine
Films Thin Top
PPF for Luxury Vinyl Tiles
Melamine Films
Company overview
STRONG BRANDS FOR A COMPLETE MADE IN ITALY OFFER 10
Base paper
Unicolors
Balancing paper
Kraft paper
Underlay
Paper-based laminates made for the covering, doors and surfaces segments:
Micro Top
Thin Top
EOS laminate
Printed decorative papers (DEC)
Melamine-impregnated papers (MEL)
Finish-foils mainly for the furniture, laminate flooring and camper/caravan segments (FINISH)
Paper-based laminates made for interior surfaces and the furnishing elements:
CLPL® Sincrolam
CPL Sincrolam
Sincropan
EOS Thermo Plastic (rPET)
Polymeric printed films (PPF) addressed for the furniture and to the Luxury Vinyl Tiles flooring segment (PVC)
Plastic printed laminated films (PPLF)
Company overview
SUSTAINABLE USE OF RESOURCES & CIRCULAR ECONOMY 11
Vertical integration benefits based on the circular economy approach
PAPER PRODUCTION
THERMOPLASTIC FILM PRODUCTION
PAPER WASTE
RECYCLE
THERMOPLASTIC FILM
WASTE RECYCLE
100% of electricity needs of
CDG from renewable sources
cogeneration of energy
from production waste
PVC & rPET PRODUCERS
65%
of fuel used by our power plant derives from certified byproducts of animal origin (ABPs), while 35% consists of vegetable oil (2025)
Company overview
CARBON NEUTRALITY 12
From 2023 onward the Group is Carbon neutral scope 1 + 2
2025 Neutralization and Offsetting (Scope 1+2)
30.000
22.549
19.374
-19.525
-19.374
20.000
10.000
0 0
-3.175
-10.000
-20.000
BEG Contribution and PV Filago
(Scope 1+2 - REDUCTION)
within the NDT Group
OFFSETTING Program Scope 2 through purchase of GO
OFFSETTING Program Scope 1 through purchase of VCS
Zero residual emissions -CARBON NEUTRAL
FINANCIAL RESULTS
Financial results
Q1 2026 - KEY FINANCIALS 14
Revenue EBITDA EBITDA Margin Net Result
47,1 Mln
+8,0% equal to +3,5 Mln compared to Q1 2025
In line compared to Q1 2025 proforma
9,1 Mln
+126,1% equal to +5,1 Mln compared to Q1 2025
+ 93,1% equal to +4,4 Mln compared to Q1 2025 proforma
19,3%
from 9,2% in Q1 2025
from 10,0% in Q1 2025 proforma
5,6 Mln
+627,7% equal to +4,8 Mln compared to Q1 2025
+214,3% equal to +4,2 Mln compared to Q1 2025 proforma
Net Financial Position
29,0 Mln
-1,9 Mln compared to FY 2025
-4,4 Mln compared Q1 2025
-16,3 Mln compared Q1 2025 proforma
Proforma data includes Q1 2025 Lamitex effects
Foreign 62%
Italy 38%
37,8% Italy
47,4% Europe
3,0% Africa
0,2% Oceania
7,4% Asia
& Middle East
4,2% Americas
Printed Paper LMX Adj Decor Paper Energy
Q1 2026
Q1 2025 PROFORMA
16,6
22,2
3,5
11,6
14,7
11,1
12,3
47,1
47,1
2. Financial results
NET SALES - €/M
Q1 2025 - Q1 2026
SALES MIX 15
Q1 2026
Net Sales (€/M) End uses Geography (excluded BEG*)
11% Flooring
89% Furniture
*BEG: Bio Energia Guarcino
2. Financial results
EBITDA & EBITDA MARGIN *- €/M 16
Q1 2025 - Q1 2026
46,3
4,6
9,1
4,5
Revenue
Raw Material Other op. Personal costs
expenditures
EBITDA
BEG Adj EBITDA Adj
6,1
8,4
22,7
LMX Adj
EBITDA Margin
EBITDA Margin Adj
EBITDA
BEG Adj
Q1 2026
Q1 2025
PROFORMA
4,5
4,0
9,2%
10,8%
10,0%
19,3%
0,7
4,6
9,1
4,7
2. Financial results
EBIT & NET INCOME - €/M 17
Q1 2025 - Q1 2026
EBIT NET INCOME
2,0
7,0
4,6
14,5%
0,5
5,9%
4,3%
3,5%
1,5
Q1 2025 PROFORMA
2,4
Q1 2026
EBIT
EBIT Margin
BEG Adj EBIT Margin Adj
LMX Adj
BEG Adj Net Income Margin Adj
LMX Adj
Net Income Margin
Net Income
1,7
Q1 2026
0,8
Q1 2025 PROFORMA
1,8%
4,1%
2,4%
0,3
11,8%
3,9
5,6
1,1
2. Financial results
NET FINANCIAL POSITION - €/M 18
Q1 2025 - FY 2025 - Q1 2026
37,7
30,9
29,0
40
35
30
25
20
1,9
2,4
15
10
5
0
Q1 2025 PROFORMA
FY 2025
Q1 2026
Current Debt
No Current Debt
LMX Current Debt
LMX No Current Debt
9,8
9,5
15,4
19,2
21,4
18,0
FY 2025 | Q1 2026 | |
NFP | 30, 90 | 29,00 |
EBITDA rolling | 20,90 | 26,00* |
NFP / EBITDA | 1,99 | 1,11* |
including Lamitex contribution | ||
EBITDA rolling ADJ | 23,20 | 27,8* |
NFP/EBITDA ADJ | 1,33 | 1,04* |
*EBITDA rolling includes the amount received by BEG related PY in Q3 2025 and Q1 2026
2. Financial results
CASH FLOW ANALYSIS - €/M 19
Q1 2026
30,0
25,0
8,8 4,1
20,0
15,0
15,0
0,7
1,6
0,6 0,3 0,0
17,1
10,0
5,0
0,0
Cash
31/12/2025
Operational Cash
flow
NWC Changes Other
Changes
Capex Intangibles Banks Debts and
Leasing
Dividends Payment Cash
31/03/2026
FUTURE OUTLOOK & GROWTH STRATEGY