Landi Renzo

Earnings Release • Jun 5, 2025

Informazione Regolamentata n. 0915-16-2025		Data/Ora Inizio Diffusione 5 Giugno 2025 20:23:07	Euronext Star Milan
Societa'	:	LANDI RENZO
Identificativo Informazione Regolamentata	:	206626
Utenza - referente	:	LANDIN03 - Cilloni Paolo
Tipologia	:	REGEM
Data/Ora Ricezione	:	5 Giugno 2025 20:23:07
Data/Ora Inizio Diffusione	:	5 Giugno 2025 20:23:07
Oggetto	:	PR -Information upon request pursuant art.114 of Dlgs 58/1998 - 31 march 2025
Testo del comunicato

Vedi allegato

Information upon request of Consob pursuant to art. 114 of legislative decree no. 58/1998 ("TUF") concerning additional information relating to the preliminary financial results as of March 31, 2025

Cavriago (RE), June 5, 2025 – 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 preliminary financial results as of March 31, 2025 of Landi Renzo Group.

As already explained in the press release of March 12, 2025, that the Company's Board of Directors has approved a new calendar of corporate events, also in view of the timing related to the update of the 2025 budget and, consequently, of the Group's 2024-2028 business plan. As of today, neither the Company's separate financial statements and the Group's consolidated financial statements as of December 31, 2024 nor the Interim management report as of March 31, 2025 have been approved yet.

Today, the Board of Directors of Landi Renzo S.p.A. reviewed the preliminary consolidated results as of March 31, 2025, drafted in compliance with international accounting standards (IAS/IFRS).

Consolidated revenues amounted to Euro 65.0 million (of which Euro 45.8 million related to the Green Transportation sector and Euro 19.2 million related to the Clean Tech Solutions sector), Adjusted EBITDA amounted to Euro 0 million (of which negative Euro 0.2 million related to the Green Transportation sector and positive Euro 0.2 million related to the Clean Tech Solutions sector) and the Net financial position is equal to Euro 105.3 million. Adjusted Net financial position, i.e. excluding the effects of the application of IFRS 16 – Leases, the fair value of derivative financial instruments and the Put/Call debt related to the Metatron Control Systems share, is equal to Euro 92.6 million.

Net financial position of the Company and of the Group it heads, with short-term components disclosed separately from medium/long-term components

As of March 31, 2025, Landi Renzo S.p.A.'s net financial position amounted to Euro 83,581 thousand, of which Euro 79,168 thousand was medium-long term and Euro 4,413 thousand short term.

(Thousands of Euro)
	31/03/2025	31/12/2024
A. Cash	12,675	24,947
B. Cash equivalents	0	0
C. Other current financial assets	2,950	2,100
D. Financial liquidity (A + B + C)	15,625	27,047
E. Current financial liabilities	-12,518	-15,961
F. Current portion of non-current financial liabilities	-7,520	-7,790
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June 5, 2025

G. Current financial liabilities (E + F)	-20,038	-23,751
H. Net current financial liabilities (G - D)	-4,413	3,296
I. Non-current financial liabilities	-79,168	-79,966
J. Debt instruments	0	0
K. Trade payables and other non-current payables	0	0
L. Non-current financial debt (I + J + K)	-79,168	-79,966
M. Net financial debt (H + L)	-83,581	-76,670

As of March 31, 2025, Landi Renzo Group's net financial position amounted to Euro 105,344 thousand, of which Euro 92,405 thousand was medium-long term and Euro 12,939 thousand was short term.

(Thousands of Euro)
	31/03/2025	31/12/2024
A. Cash	25,437	43,128
B. Cash equivalents	0	0
C. Other current financial assets	749	801
D. Financial liquidity (A + B + C)	26,186	43,929
E. Current financial liabilities	-24,747	-28,867
F. Current portion of non-current financial liabilities	-14,378	-14,740
G. Current financial liabilities (E + F)	-39,125	-43,607
H. Net current financial liabilities (G - D)	-12,939	322
I. Non-current financial liabilities	-89,234	-90,722
J. Debt instruments	-2,618	-3,493
K. Trade payables and other non-current payables	-553	-611
L. Non-current financial debt (I + J + K)	-92,405	-94,826
M. Net financial debt (H + L)	-105,344	-94,504

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 March 31, 2025, Landi Renzo Group's overdue commercial debt positions to third parties were equal to Euro 3,685 thousand (of which Euro 2,284 thousand relating to the 0-60 days overdue bucket), an amount that reflects the effects of rescheduling agreements agreed with major suppliers.

(Thousands of Euro)
		Debts by days overdue
	0-60	61-90	91-120	121-180	Over 180	Total overdue
Financial debts
Trade Payables	2,284	73	42	104	1,182	3,685
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June 5, 2025

Social security liabilities
Debts to employees
Tax Payables
Total	2,284	73	42	104	1,182	3,685

As of March 31, 2025, Landi Renzo Group's overdue commercial debt positions to third parties were equal to Euro 8,685 thousand (of which Euro 2,917 thousand relating to the 0-60 days overdue bucket), an amount that reflects the effects of rescheduling agreements agreed with major suppliers.

(Thousands of Euro)
	Debts by days overdue
	0-60	61-90	91-120	121-180	Over 180	Total overdue
Financial debts
Trade Payables	2,917	1,807	384	504	3,073	8,685
Social security liabilities
Debts to employees
Tax Payables
Total	2,917	1,807	384	504	3,073	8,685

As of March 31, 2025, there were no overdue financial, tax, social security and employee debt positions, either for the Company or the parent Group.

It is noted that the Company has contested the defectiveness of its products to a German supplier, which is currently the subject of a preventive technical assessment. Consequently, by way of selfdefense, 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 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 has recently formed an action to resist this initiative, first of all contesting the jurisdictional competence of the German judge in favor of the Italian one, as well as the merit of the supplier's claim, given the aforementioned defectiveness.

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 to compromise normal business operations.

The main changes in related party transactions of this 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)

Related parties of Landi Renzo S.p.A. at March 31, 2025.

June 5, 2025

(Thousands of Euro)
	Right of-use asset s	Receivable s and other assets	Financial Receivable s	Payable s and other liabilitie s	Financia l liabilitie s and leasing	Revenue s and operation income	Costs and depreciatio n	Financial income (expenses )
Gestimm S.r.l.	1,645			-239	-1,714		-150	-11
Gireimm S.r.l.	1,542			-1,548	-1,585		-219	-25
Total parent companies	3,187			-1,787	-3,299		-369	-36
SAFE SpA		961		-313		68
Landi International B.V.		7	45
Landi Renzo Polska		7,245		-46		1,213	-133
Beijing Landi Renzo Cina		13		-461		501
LR Industria e comercio Ltda		5,167				73
Landi Renzo Pars		766	288	-216			-19	4
Landi Renzo Ro Srl		4,506		-619		220	-46
Landi Technologies Inc.		2,788		-158		75	-17
AEB America		1,135		-189		99
Landi Renzo RUS		847
Metatron SpA			1,500	-45		6	-111
Metatron Control System ltd		524				502
Total subsidiaries companies		23,959	1,833	-2,047		2,757	-326	4
Krishna Landi Renzo India Priv. Ltd		6,576	600	-70		2,528		4
Tamburi investment partner				-395
Total other related companies		6,576	600	-465		2,528		4
TOTAL	3,187	30,535	2,433	-4,299	-3,299	5,285	-695	-28

It is noted that the preliminary financial results as of March 31, 2025, include provisions for risks on equity investments for some Euro 16.5 million concerning provisions made to cover losses recorded by some subsidiaries.

Due to the fact that the preliminary unaudited financial results as of December 31, 2024 and the preliminary financial results as of March 31, 2025 of Landi Renzo S.p.A. do not reflect the possible effects of the update of the 2025 budget and, consequently, the 2024-2028 industrial plan of the Group, and being still in place the audit by the audit firm on the financial statements as of December 31, 2024, the above provisions may be subject to change prior to the related approval of the Board of Directors of the Company

Related parties of Landi Group at March 31, 2025.

(Thousands of Euro) Rightof-use assets Receivables and other assets Financial Receivables Payables and other liabilities Financial liabilities and leasing Revenues and operation income Costs and depreciation Financial income (expenses) Gestimm S.r.l. 1,645 -239 -1,714 -150 -11 Gireimm S.r.l. 2,345 -1,695 -2,478 -334 -28 Total parent companies 3,990 -1,934 -4,192 -484 -39

June 5, 2025

Krishna Landi Renzo India Priv. Ltd		6,576	600	-70		2,528		4
Tamburi investment partner				-395
Reggio Properties LCC	283			-45	-295		-27	-2
Wyoming Northstar Inc		7
Clean Energy Fuels Corp.		570		-864		540
Total other related companies	283	7,153	600	-1,374	-295	3,068	-27	2
TOTAL	4,273	7,153	600	-3,308	-4,487	3,068	-511	-37

Transactions with related parties 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.

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 from the planned ones ", as the update of the 2025 draft budget and, consequently, of the 2024-2028 Group's Business plan is still being finalized, it should be noted that following the necessary board approvals, appropriate information will be provided to the market, also in light of the increasingly complex environment in which the Group operates and the global macroeconomic and geopolitical situation.

The statements contained in this press release are expressed in thousands of Euros and that the amounts have not been audited.

Landi Renzo is the global leader in the natural gas, biomethane and hydrogen sustainable mobility and infrastructure sector. The Group stands out for its extensive presence at global level in over 50 countries, generating nearly 90% of its revenues abroad. Landi Renzo S.p.A. has been listed on the Euronext STAR Milan segment of Borsa Italiana since June 2007.

This press release is a translation. The Italian version will prevail.

More information:

Media contact: Community

LANDI RENZO Paolo Cilloni CFO and Investor Relator ir@landi.it

Roberto Patriarca - 335 6509568 Silvia Tavola - 338 6561460 Lucia Fava - 366 5613441 landirenzo@community.it

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Fine Comunicato n.0915-16-2025	Numero di Pagine: 7
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