Basic Net SpA

Investor Presentation • Apr 29, 2025

BasicNet

3m2025 RESULTS CONFERENCE CALL

TURIN, 29™ APRIL 2025

EXECUTIVE SUMMARY NETWORK ACTIVITY

3m 2025

GROUP INTERIM RESULTS 3m 2025

EXECUTIVE SUMMARY

3m adjusted EBITDA showing improvement over Y-1. Net Financial Position with banks continuously improving from recurring operations, with the additional extraordinary boost in liquidity from K-Way transaction.

TOTAL AGGREGATED SALES

3m aggregated sales amounted to € 268,8 mln (+2,9% YoY) with mixed performances across the Brands. Aggregated sales of sourcing centers (ASSC) were up by +4,0% compared to Q1 2024, providing a promising outlook on next-future ASL.

GROUP CONSOLIDATED REVENUES

Group consolidated revenues amounted to € 98,2 mln (- 3,3% YoY) mostly due to the change in business model of certain partners (from distributors to licensees) that caused a shift from direct sales to royalties. Royalties from licensees overall followed the same dynamics as aggregated sales.

EBITDA

EBITDA stood at € 12,7 mln (€ 12,4 mln in 2024) after the adjustment of € 16,7 in costs related to the K-Way transaction. Lower direct sales still contributed a higher amount of margins (both in absolute and % value) more than offsetting the effect of non-recurring positive one-offs in 2024.

NFP WITH BANKS

Net Financial Position with banks at + € 64,0 mln (compared to - € 93,5 mln at 3m 2024 and - € 90,8 at YE24) with the cash injection coming from K-Way transaction. Operating cash flow of the quarter has been positive for € 8,4 mln. The buy-back activity has been solid at € 3,4 mln whereas dividends will be paid in Q2.

TOTAL AGGREGATED SALES (TAS) € 268,8 mln € 98,3 mln

CONSOLIDATED REVENUES

EBITDA * € 12,7 mln

* 3m25 EBITDA ADJUSTED TO NEUTRALIZE THE IMPACT OF K-WAY TRANSACTION-RELATED COSTS

NFP WITH BANKS + € 64,1 mln

NETWORK ACTIVITY 3m 2025

ASL - GEOGRAPHIC AREA

in € million	31.03.25	in %	31.03.24	in %	Var	Var %
Europe	160,3	78,9%	153,3	77,4%	7,0	4,6%
Asia and Oceania	11,7	5,7%	11,3	5,7%	0,4	3,3%
Americas	9,7	4,8%	13,4	6,7%	(3,7)	-27,7%
Middle East and Africa	21,6	10,6%	20,1	10,2%	1,4	7,1%
Total ASL	203,2	100,0%	198,1	100,0%	5,1	2,6%

Q4 MARKETING

ROBE DI KAPPA | ROBE GIOVANI

ROBE DI KAPPA | FRIENDS OF MADRID

BRIKO | XMASTERS INVERNALE

KAPPA X ACNE STUDIOS KAPPA | ACNE STUDIOS

KAPPA | FIORENTINA X LUISAVIAROMA

KAPPA X GENOA FC

KAPPA | GENOA CFC KAPPA | AUTHENTIC RELAUNCH

Q1 MARKETING

KAPPA | GULF TRACKHOUSE

KAPPA | MOUNTAIN TOUR - COURCHEVEL

MUSEO DELLA PERMANENTE IN MILAN

RINASCENTE MILANO

K-WAY 19 LONDON STORE OPENING

K-WAY X PALACE K-WAY DRESSES LA

Q1 MARKETING

Sebago X Max Mara SEBAGO X DRAKE'S SEBAGO X ESSENTIEL ANTWERP

SEBAGO X MAX MARA

GROUP INTERIM RESULTS 3m 2025

CONSOLIDATED REVENUES

€ 12,4 mln

€ 12,7 mln

NET FINANCIAL POSITION

in € .000	31.03.25	in %	31.03.24	in %	Var	Var%
Sub-total net money holdings	97.016	1353,6%	(44.436)	31,1%	141.452	-318,3%
Short-term portion of m/l term loans	(9.054)		(12.707)		3.653	-28,7%
Short-term net financial position	87.962	1227,3%	(57.143)	40,0%	145.105	29,5%
Long-term portion of m/l term loans	(23.631)		(36.289)		12.658	-34,9%
Financial leasing payables	(280)		(32)		(249)	783,2%
Sub-total loans and leasing payables	(23.912)	-333,6%	(36.321)	25,4%	12.409	-34,2%
Net financial position with banks	64.050	893,7%	(93.464)	65,4%	157.514	-168,5%
Right of use debts	(50.451)		(41.445)		(9.007)	21,7%
Payables for future acquisition of company shares	(6.432)		(8.081)		1.649	-20,4%
Net financial position	7.167	100,0%	(142.990)	100,0%	150.157	-105,0%

NET FINANCIAL POSITION WALK

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"
Adjusted EBITDA	EBITDA pro-forma net of extraordinary costs pertaining to the sale of the 40% interest in K-Way S.p.A.
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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