Basic Net SpA

Earnings Release • Apr 30, 2024

BasicNet

3m 2024 RESULTS CONFERENCE CALL

TURIN, 30™ APRIL 2024

EXECUTIVE SUMMARY NETWORK ACTIVITY

3m 2024

GROUP INTERIM RESULTS 3m 2024

EXECUTIVE SUMMARY

Amid complicated market conditions, BasicNet relies upon a solid direct distribution as the network faces a general slowdown of consumption with specific lows in key markets. Net Financial Position remains stable as the focus on trade working capital is unchanged.

TOTAL AGGREGATED SALES

01 EXECUTIVE SUMMARY

3m aggregated sales amounted to € 261,2 mln (-11,0% YoY) as aggregated sales of sourcing centers (ASSC) were reduced by -13,2% compared to Q1 2023. ASL went down -10,3% as Americas saw a significant decline due to the difficulties of the US licensee and the slowdown of consumption in Argentina.

GROUP CONSOLIDATED REVENUES

Group consolidated revenues amounted to € 101,6 mln (-5,9% YoY): direct sales suffered a minor contraction, partially due to the Red Sea crisis that caused delays in the supply chain, while royalties from commercial and productive licensees followed the same dynamics as aggregated sales.

EBITDA

EBITDA stood at € 12,4 mln (€ 14,8 mln in Q1 2023) as the lower marginality was partially offset by a reduction in general expenses, and other entry and exit fees from licensees. Marketing and communication investments are overall in line with Q1 with minor changes due to the impact of sponsorship agreements signed in Q3 2023.

NFP WITH BANKS

Net Financial Position with banks at € 93,5 mln (compared to € 92,6 mln at YE 2023) as the Group has paid the second instalment of K-Way France earn-out. Net debt is overall lower than Q1 2023, with a positive trend thanks to the ongoing effort to optimize trade working capital. - 3 -

TOTAL AGGREGATED SALES (TAS) € 261,2 mln € 101,6 mln

CONSOLIDATED REVENUES

NETWORK ACTIVITY 3m 2024

02 NETWORK ACTIVITY 3m 2024

ASL - GEOGRAPHIC AREA

in € million	31.03.24	in %	31.03.23	in %	Var	Var %
Europe	153,3	77,4%	159,4	72,2%	(6,1)	-3,8%
Asia and Oceania	11,3	5,7%	14,8	6,7%	(3,5)	-23,6%
Americas	13,4	6,7%	25,0	11,3%	(11,6)	-46,5%
Middle East and Africa	20,1	10,2%	21,6	9,8%	(1,4)	-6,7%
Total ASL	198,1	100,0%	220,8	100,0%	(22,7)	-10,3%

Kappa sponsorship with VR46 Genoa Fourth Kombat™ jersey

Kappa unveils the brand new 2024 BWTAlpineF1 Team collection

Briko and Kappa present their snow collection at Sport Achat

Launch of the Briko 2024 bike collection Briko presents the snow collection at Prowinter Bolzano

K-Way reveals its 24-25 FW collection on the Milan Fashion Week runway K-Way and agnès b. unveil their first

K-Way unveils its first lifestyle collection created with surfer Leonardo Fioravanti

collaboration for adults and kids

K-Way is the Official Partner of the UVNT Contemporary Art Fair

K-Way launches its first collaboration with Maison Kitsuné

Superga X Tiny Cottons

Superga X Viktor & Rolf Opening of new Superga stores in Manila and Singapore

Sebago launches Hurricane, its first retro sailing sneaker Sebago inaugurates its fifth Italian store in Genoa

Ghali wears Sebago at Sanremo's Festival

Sebago X Harper's Bazaar present the new Danielle Pop women's mocassin

GROUP INTERIM RESULTS 3m 2024

CONSOLIDATED REVENUES

€ 14,8 mln € 12,4 mln

NET FINANCIAL POSITION

in € .000	31.03.24	in %	31.03.23	in %	Var	Var%
Sub-total net money holdings	(44.436)	31,1%	(35.225)	25,3%	(9.210)	26,2%
Short-term portion of m/l term loans	(12.707)		(15.800)		3.093
Short-term net financial position	(57.143)	40,0%	(51.026)	36,6%	(6.117)	29,5%
Long-term portion of m/l term loans	(36.289)		(48.079)		11.790
Financial leasing payables	(32)		(203)		171
Sub-total loans and leasing payables	(36.321)	25,4%	(48.282)	34,6%	11.961	-24,8%
Net financial position with banks	(93.464)	65,4%	(99.308)	71,2%	5.844	-5,9%
Right of use debts	(41.445)		(30.400)		(11.045)
Payables for future acquisition of company shares	(8.081)		(9.738)		1.657
Net financial position	(142.990)	100,0%	(139.445)	100,0%	(3.544)	2,5%

NET FINANCIAL POSITION WALK 03 GROUP INTERIM RESULTS

GLOSSARY AND ALTERNATIVE PERFORMANCE MEASURES

Commercial licensees or licensees	independent business owners, granted licenses to distribute Group brand products in their respective regions
Productive licensees or sourcing centers	third-party entities whose function is to manufacture goods branded with the Group brands for the exclusive sale to Commercial licensees or to Group companies
Total Aggregated Sales (TAS)	the sum of Aggregated Brand Sales (ASL) and Aggregated Sales of Sourcing Centers (ASSC)
Aggregated Brand Sales (ASL)	sales by commercial licensees – that generate royalties for BasicNet Group – and sales by the Group companies
Aggregated Sales of Sourcing Centers (ASSC)	sales by productive licensees – that generate sourcing commissions for BasicNet Group
Consolidated revenues	the sum of royalties, sourcing commissions, sales of products made by BasicNet Group companies and real estate revenues
EBITDA	"operating result" before "amortisation and depreciation"
Net Financial Position	total of current and medium/long-term financial payables, less cash and cash equivalents and other current financial assets
Net Financial Position with banks	Net Financial Position, excluding IFRS 16 and financial liabilities for the acquisition of businesses

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