Basic Net SpA

Earnings Release • Feb 12, 2025

BASICNET – 2024 PRELIMINARY RESULTS: GROWTH OF KEY INDICATORS: CONSOLIDATED REVENUES OF EURO 409.2 MILLION +3.1%, EBITDA OF EURO 61.1 MILLION +5.1%, EBIT OF EURO 42.1 MILLION +2.6%

Turin, February 12, 2025. The Board of Directors of BasicNet S.p.A. has reviewed the 2024(*) preliminary figures. The definitive results will be approved on March 7 next.

The Group, in summary, reports for 2024:

• consolidated revenues of Euro 409.2 million (Euro 396.8 million in 2023, +3.1%), which include:
  • − direct sales: Euro 346.8 million (Euro 332.8 million in 2023, +4.2%);
  • − royalties from commercial and productive licensees: Euro 60.9 million (Euro 62.3 million in 2023, -2.2%);
• aggregate sales of Group brands products by the global Network of Euro 1.2 billion, compared to Euro 1.1 billion in the previous year (+3.3%), as follows:
  • − commercial licensees and direct sales: Euro 864.7 million (Euro 820.0 million in 2023, +5.4%)
  • − productive licensees sales: Euro 313.8 million (Euro 321.0 million in 2023, -2.3%).

Commercial licensees and direct sales grow in Europe (+12.1%), which accounts for approx. 76.6% of aggregate sales, and by 1.5% in the Middle East and Africa, while reducing in the Americas (-21.3%) and in Asia and Oceania (-22.6%);

• EBITDA: Euro 61.1 million (Euro 58.1 million in 2023, +5.1%), with increased investments in sponsorships and communication and human resources, confirming the continued commitment to the consolidation and development of the brands;
• EBIT: Euro 42.1 million (Euro 41.1 million in 2023, +2.6%), after amortisation and depreciation of Euro 9.6 million and depreciation of right-of-use for Euro 9.4 million, increasing due to the new openings (12 direct points of sale), as part of the retail segment development.
• net financial position with banks Euro -90.8 million, improving compared to Euro -92.6 million at December 31, 2023; net financial position: Euro -142.0 million (Euro -139.1 million at December 31, 2023). Dividends of Euro 7.4 million were distributed in 2024 and treasury shares acquired for Euro 14.4 million.

As anticipated in the press release of January 24th, the closing of the agreement regarding Permira's acquisition of a significant minority stake in K-Way S.p.A. is expected on February 28th, 2025.

"2024 was a greatly satisfying year for the Group, and particularly as these results were achieved within a still very complex macroeconomic environment" stated Chief Executive Officer Federico Trono. - The gradual improvement throughout the year of the economic performance and the equity position, supported by the solid commercial growth of the Group's brands, allowed us to deliver record consolidated revenues and EBITDA. Simultaneously, working capital was optimised and the debt to banks reduced. All these components confirm the strategic foundation of our business model geared toward ensuring the long-term, sustainable growth of the Group's brands."

(*) The figures and information reported herein were not audited.

The Chief Executive Officer will present the 2024 preliminary results to the market in a video conference to be held today at 6PM CET. To participate:

Microsoft Teams Meeting Participate via computer or mobile app or remote device

Participate at the meeting now Meeting ID:319 168 730 327 - Passcode:XB2xF6W3 Alternatively, attend by calling (only audio)

+39 02 0062 4808,,511649490# Italy, Milan Conference Call ID:511 649 490#

The presentation may be downloaded from the website www.BasicNet.com, from the section: "Financial information/Other information and presentations" shortly before the video conference, at the following link:

http://www.basicnet.com/contenuti/datifinanziari/informazioniannuali.asp?menuSelectedID=3g

In relation to the "alternative performance measures", as defined by the ESMA/2015/1415 guidelines, we provide below a definition of the measures used in this press release:

Commercial licensees or licensees	independent business owners, granted licenses to distribute Group brands products in their respective regions.
Productive licensees or sourcing centers	third-party firms to the Group. Their function is to manufacture and market products and are located in various countries worldwide, depending on what type of goods they produce.
Commercial licensees and direct aggregate sales	sales by commercial licensees, recognised by the BasicNet Group to the royalties account and the sales by the Group companies.
Productive licensees aggregate sales	sales by productive licensees, recognised by the BasicNet Group to the "royalties and sourcing commissions" account of the income statement.
Brands aggregate sales	is the sum of "Commercial licensees and direct aggregate sales" and "Aggregate sales of productive licensees"
Consolidated revenues	the sum of royalties, sourcing commissions and sales of the BasicNet Group companies and real estate revenues from third parties.
EBITDA	"operating result" before "amortisation and depreciation".
EBIT	"operating result".
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	the Net financial position, net of payables for rights-of-use and payables for the acquisition of company shares.

***

The Executive Officer for Financial Reporting, Ms. Paola Bruschi, declares in accordance with Article 154-bis, paragraph 2, of the Consolidated Finance Act that the accounting information contained in the present press release corresponds to the underlying accounting documents, records and accounting entries.