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Aquafil Interim / Quarterly Report 2025

Nov 13, 2025

4252_rns_2025-11-13_7cc2015f-370a-4de4-86de-c87b78114315.pdf

Interim / Quarterly Report

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Aquafil Group [ECNL:IM] - [ECNLF: OTCQX] 9M 2025 Financial Results November 13, 2025

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Key Messages
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✓

EBITDA continues to grow (9M 2025 +14,3% vs 9M 2024)

✓ ECONYL[®] branded and regenerated products reached 60,2% of fibers revenues

✓

Percentage margin improved achieving the high-end range of 2025 target (13.7%)

✓ 2025 Targets update

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2

Financial Results

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9M
% on Revenues
3Q
% on Revenues		 Revenues EBITDA Netprofit NFP
2025
2024
Δ%		 2025
2024
Δ%		 2025
2024
Δ%		 30.09.25
31.12.24
Δ%
402,0
416,1
(3,4)%		 54,9
48,1
14,3 %		 0,4
(8,8)
104,8 %		 (227,1)
(213,5)
6,4 %
13,7 %
11,6 %		 0,1 %
(2,1)%
120,9
127,9
(5,5)%		 16,6
15,5
7,0 %		 (1,8)
(2,6)
32,0 %
13,7 %
12,1 %		 (1,5)%
(2,1)%
USA
Strong BCF market
EMEA
broadly in line
APAC
soft market
ECONYL®
60,2%
of Fiber Revenues		 Higher vs 9M 2024
Mainly due to
Lower raw material cost
and
Efficiencies/cost containment
actions		 Higher vs 9M 2024
Despite the impact of the
extraordinary items
Mainly due to
EBITDA increase, lower interest
expenses
and
positive FX changes
USA
Strong BCF market
EMEA
broadly in line
APAC
soft market
ECONYL®
60,2%
of Fiber Revenues		 Higher vs 9M 2024
Mainly due to
Lower raw material cost
and
Efficiencies/cost containment
actions		 Higher vs 9M 2024
Despite the impact of the
extraordinary items
Mainly due to
EBITDA increase, lower interest
expenses
and
positive FX changes		 Slightly higher
vs Dec. 24
mostly due to seasonality
NFP/EBITDA LTM
x3,28
on 30th September 2025
x3,42
on 31st December 2024

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3

Volumes

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(on First Grade Products)

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Financial
Results
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+3,8 %
compared to 9M 2024
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+7,1 %
compared to 3Q 2024
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Revenues variation by components

Index 100

Volumes and Revenues Variation by Components

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9M 2024 Volume Price & Sales 9M 2025 3Q 2024 Volume Price & Sales 3Q 2025
Mix Mix
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4

Financial Results | Quantity Variations %

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(on First Grade Product Revenues)

EMEA

9M25 vs 9M24

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3Q25 vs 3Q24

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Volumes +5,9% vs 9M24 and +10,5% vs 3Q24:

  • BCF softer than planned

  • NTF still soft but increasing in 3Q

  • Polymers growing volumes with a solid EP performance

USA

Volumes +7,3% vs 9M24 and +7% vs 3Q24 :

  • Important increase in BCF market

  • NTF still soft

Asia

Volumes (9,1)% vs 9M24 and (3,7)% vs 3Q24:

  • Soft market

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5

Financial Results | Revenues Breakdown

% by Product Line

3Q25 vs 3Q24

9M25 vs 9M24

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6

Financial Results | Revenues Breakdown

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% by Geographical Area

9M25 vs 9M24 3Q25 vs 3Q24

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7

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60,2%
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Financial Results

  • of 9M25 fibers revenues from ECONYL® and other regenerated fibers

3Q25 vs 3Q24

9M25 vs 9M24

ECONYL® Revenues on fibers

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8

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Financial Results

P&L KPI

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9M 3Q
2025 2024 Δ% 2025 2024 Δ%
Revenues 402,0 416,1 (3,4)% 120,9 127,9 (5,5)%
EBITDA 54,9 48,1 14,3 % 16,6 15,5 7,0 %
% on net Sales 13,7 % 11,6% 13,7% 12,1%
EBIT 7,0 3,9 80,3 % 1,8 0,8 124,0 %
% on net Sales 1,7% 0,9 % 1,5 % 0,6 %
EBT 0,3 (10,3) 102,9 % (2,2) (3,2) 31,0 %
% on net Sales 0,1 % (2,5)% (1,8)% (2,5)%
NET RESULT 0,4 (8,8) 104,8 % (1,8) (2,6) 32,0 %
% on net Sales 0,1 % (2,1)% (1,5)% (2,1)%
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  • Include nonrecurring costs Data in € million

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9

Financial Results | Net Financial Position

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NFP - €/mln

NFP/EBITDA

NFP:

227,1 €/mln on September 30, 2025 vs 265,0 €/mln on September 30, 2024 and vs 213,5 €/mln on December 31, 2024 Ratio NPF/EBITDA: x3,28 on September 30, 2025 vs x4,52 on September 30, 2024 and vs x3,42 on December 31, 2024

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10

Financial Results | NFP evolution €/mln

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11

2025 Industrial Plan: updated expectations Volumes b business lines y

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BCF - Carpet yarn

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NTF - Textile yarn

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Polymers

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NEW ‘25E vs ’24A Substantially stable Substantially stable +15% Old ‘25E vs ’24A From +7% to +9% From +15% to +18% From +45% to +55% Xxx Xxx Xxx

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12

2025 Industrial Plan: updated expectations EBITDA (old vs new)

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3 (9) 80 - 85 (2) (1) 70 Old EBITDA Exp25 Lower labor costs Volumes Energy costs FX changes on EBITDA New EBITDA Exp25 Linked to the Lower Lower EBITDA ongoing volumes, net from USD and corporate of improved CNY exchange reorganization marginality rate and the restructuring of ACR/ACCs

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Data in €/mln.

13

2025 Industrial Plan: updated expectations Net Financial Position (old vs new)

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3 2 208 - 212
10 5
185 - 195
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Old NFP Exp25

EBITDA New IFRS16 contract FX changes Layoff costs

New NFP Exp25

Data in €/mln Positive NFP means debt and includes the IFR 16 effects

New IFRS16 Negative impact Nonrecurring leasing signed on exchange cash costs as part of the rate (lower connected with ACR/ACC cash balance for the cost reorganization cash equivalent reduction held in different projects currencies)

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14

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Outlook
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The first nine months of 2025 showed a significant growth in percentage margin compared to the previous year, achieving the high-end target of the Plan. The ability to maintain and increase the margins reflects rigorous cost discipline and the success of containment initiatives, elements that have effectively compensated the lower-than-expected increase in volumes. This contained growth was influenced by external pressures in specific markets, such as the fibers for garments sector.

The of macroeconomic headwinds necessitates an of our persistence update year-end forecasts. The strategy will focus on maintaining margins and cost management. For the fourth quarter of the year, it is expected to see continued recovery in demand in markets that showed signs of improvement in the previous period. In addition to this, attention will remain focused on the efficiency of the cost structure and operations.

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15

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4. Annexes

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16

Annex - Disclaimer

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This presentation and any material distributed in connection herewith (together, the “ Presentation ”) prepared by Aquafil S.p.A. (“ Aquafil ” or “ Company ”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and neither this Presentation nor anything contained herein shall form the basis of, ore be relied upon in connection with, or act as an inducement to enter into, any contract or commitment whatsoever.

The Presentation contains forward-looking statements regarding future events and the future results of Aquafil that are based on current expectations, estimates, forecasts, and projections about the industries in which Aquafil operates and the belief and assumptions of the management of Aquafil. In particular, among other statements, certain statements with regards to management objectives, trends in results of operations, margins, costs, return on equity, risk management are forward-looking in nature. Words such as ‘expects’, ‘anticipates’, ‘targets’, ‘goals’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, variations of such words, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Therefore, Aquafil’s actual result may differ materially and adversely from those expressed or implied in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, economic conditions globally, political, economic and regulatory developments in Italy and internationally. Any forward-looking statements made by or on behalf of Aquafil speak only as of the date they are made. Aquafil does not undertake to update forward-looking statements to reflect any changes in Aquafil’s expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

No reliance may be placed for any purposes whatsoever on the information contained in the Presentation, or any other material discussed in the context of the presentation of such material, or on its completeness, accuracy or fairness. The information contained in the Presentation might not be independently verified and no representation or warranty, express or implied, is made or given or on behalf of the Company or any of its members, directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document or any other material discussed in the context of the presentation of the Presentation. None of the Company, nor any of its respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of the Presentation or its contents or otherwise arising in connection therewith.

The reader should, however, consult any further disclosure Aquafil may make in documents it files with the Italian Securities and Exchange Commission and with the Italian Stock Exchange.

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17

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Annex - Definitions

«FIRST CHOICE
REVENUES»		 “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any
adjustments (for example, discounts and allowances), but excluding revenues generated by “non-first
choice products”, revenues generated by Aquafil Engineering GmbH and “other revenues”. On the basis
of the 2019 figures, these revenues accounted for more than 95% of the Group’s consolidated revenues
EBITDA This is an alternative performance indicator not defined under IFRS but used by company management
to monitor and assess the operating performance as not impacted by the effects of differing criteria in
determining taxable income, the amount and types of capital employed, in addition to the amortisation
and depreciation policies. This indicator is defined by the Aquafil Group as the net result for the year
adjusted by the following components: income taxes, investment income and charges, amortisation,
depreciation and write-downs of tangible and intangible assets, provisions and write-downs, financial
income and charges, non-recurring items.
NFP On April 29, 2021, Consob issued “Call to attention No. 5/21” in which it highlighted that the new “ESMA
Guidelines” of March 4, 2021 replaced on May 5, 2021 those of preceding Consob communications. In
guideline No. 39 requires that financial statement disclosure includes the following definition of net
financial debt:
A. Liquidity
B. Other liquidity
C. Other current financial assets
D. Liquidity (A+B+C)
E. Current financial debt (including debt instruments but excluding the current portion of non-current
financial debt)
F. Current portion of non-current financial debt
G. Current financial debt (E + F)
H. Net current financial debt (G - D)
I. Non-current financial debt (excluding current portion and debt instruments)
J. Debt instruments
K. Trade payables and other non-current payables
L. Non-current financial debt (I + J + K)
M. Total financial debt (H + L)

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18

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Annex - Sector Data – Caprolactam price evolution €/ton

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Source: Tecnon OrbiChem, a ResourceWise company

19

- Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)		 - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT
€/000
September
2025
of which
non-current
September
2024
of which
non-current
Third quarter
2025
of which
non-current
Third quarter
2024
of which
non-current
Revenue
402.022
0
416.075
0
120.864
0
127.942
0
of which related parties
6
18
0
( 139)
Other Revenue
8.993
13
6.618
32
2.744
3
3.333
( 5)
of which related parties
271
227
100
227
Total Revenue and Other Revenue
411.014
13
422.693
32
123.608
3
131.275
( 5)
Raw Material
( 174.875)
( 219)
( 196.191)
0
( 53.519)
0
( 58.400)
0
of which related parties
( 6)
0
( 6)
0
Services
( 98.277)
( 2.388)
( 92.659)
( 484)
( 30.113)
( 1.108)
( 30.958)
( 337)
of which related parties
( 507)
( 530)
( 180)
( 201)
Personel
( 91.115)
( 2.339)
( 90.642)
( 1.217)
( 26.748)
( 905)
( 28.467)
( 387)
of which related parties
( 0)
0
0
0
Other Operating Costs
( 2.428)
( 215)
( 2.411)
( 123)
( 816)
( 144)
( 752)
( 14)
of which related parties
( 52)
( 52)
( 17)
( 17)
Depreciation and Amortization
( 37.472)
( 40.207)
( 12.080)
( 13.220)
Fixed asset write-offs
( 1.935)
0
0
0
Provisions&Write-downs
( 1.474)
( 1.341)
( 27)
19
32
( 38)
Capitalization of Internal Construction Costs
3.586
3.340
1.450
1.364
EBIT
7.024
( 6.489)
3.896
( 1.792)
1.801
( 2.120)
804
( 743)
Income (loss) from Investments
78
110
0
110
of which related parties
78
110
0
110
Other Financial Income
871
1.060
266
419
of which related parties
2
1
1
1
Interest Expenses
( 11.508)
( 16.138)
( 3.612)
( 5.607)
of which related parties
( 156)
( 70)
( 39)
( 21)
FX Gains and Losses
3.835
741
( 648)
1.096
Profit Before Taxes
302
( 6.489)
( 10.330)
( 1.792)
( 2.194)
( 2.120)
( 3.177)
( 743)
Income Taxes
123
1.552
394
532
Net Profit(Including Portion Attr. to Minority )
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
Net Profit Attributable to Minority Interest
0
0
0
0
Net Profit Attributable to the Group
424
( 6.489)
( 8.779)
( 1.792)
( 1.800)
( 2.120)
( 2.646)
( 743)
CONSOLIDATED INCOME STATEMENT
€/000
September
2025

of which
non-current		 September
2024

of which
non-current		 Third quarter
2025

of which
non-current		 Third quarter
2024

of which
non-current
Revenue
of which related parties
Other Revenue
of which related parties
Total Revenue and Other Revenue		 402.022
6
8.993
271
411.014		 0
13
13		 416.075
18
6.618
227
422.693		 0
32
32		 120.864
0
2.744
100
123.608		 0
3
3		 127.942
( 139)
3.333
227
131.275		 0
( 5)
( 5)
Raw Material
of which related parties
Services
of which related parties
Personel
of which related parties
Other Operating Costs
of which related parties
Depreciation and Amortization
Fixed asset write-offs
Provisions&Write-downs
Capitalization of Internal Construction Costs
EBIT		 ( 174.875)
( 6)
( 98.277)
( 507)
( 91.115)
( 0)
( 2.428)
( 52)
( 37.472)
( 1.935)
( 1.474)
3.586
7.024		 ( 219)
( 2.388)
( 2.339)
( 215)
( 1.341)
( 6.489)		 ( 196.191)
0
( 92.659)
( 530)
( 90.642)
0
( 2.411)
( 52)
( 40.207)
0
( 27)
3.340
3.896		 0
( 484)
( 1.217)
( 123)
( 1.792)		 ( 53.519)
( 6)
( 30.113)
( 180)
( 26.748)
0
( 816)
( 17)
( 12.080)
0
19
1.450
1.801		 0
( 1.108)
( 905)
( 144)
32
( 2.120)		 ( 58.400)
0
( 30.958)
( 201)
( 28.467)
0
( 752)
( 17)
( 13.220)
0
( 38)
1.364
804		 0
( 337)
( 387)
( 14)
( 743)
Income (loss) from Investments
of which related parties
Other Financial Income
of which related parties
Interest Expenses
of which related parties
FX Gains and Losses
Profit Before Taxes		 78
78
871
2
( 11.508)
( 156)
3.835
302		 ( 6.489) 110
110
1.060
1
( 16.138)
( 70)
741
( 10.330)		 ( 1.792) 0
0
266
1
( 3.612)
( 39)
( 648)
( 2.194)		 ( 2.120) 110
110
419
1
( 5.607)
( 21)
1.096
( 3.177)		 ( 743)
Income Taxes
Net Profit(Including Portion Attr. to Minority )		 123
424		 ( 6.489) 1.552
( 8.779)		 ( 1.792) 394
( 1.800)		 ( 2.120) 532
( 2.646)		 ( 743)
Net Profit Attributable to Minority Interest
Net Profit Attributable to the Group		 0
424		 ( 6.489) 0
( 8.779)		 ( 1.792) 0
( 1.800)		 ( 2.120) 0
( 2.646)		 ( 743)

Annex - Consolidated Income Statement

20

Annex - Consolidated Income Statement – Revenues 9M

9M BCF(fiber for carpet) NTF(fiber for fabrics) Polymers TOTAL TOTAL TOTAL
€/mln 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 %25 %24
EMEA
North America
Asia e Oceania
RoW		 129,0
137,2
(8,2)
(6,0)%
105,2
94,8
10,4
11,0 %
60,5
68,9
(8,3) (12,1)%
0,6
0,6
0,0
4,1 %		 44,5
44,8
(0,3)
(0,7)%
17,5
18,6
(1,1)
(5,9)%
2,5
2,5
(0,0)
(0,1)%
0,8
1,4
(0,6) (40,1)%		 35,8
39,2
(3,4)
(8,6)%
4,6
6,3
(1,8) (28,1)%
1,1
1,9
(0,8) (42,2)%
0,0
0,0
0,0
N.A.		 209,3
221,2 (11,9)
(5,4)%
127,2
119,7
7,5
6,3 %
64,1
73,2
(9,1) (12,5)%
1,4
2,0
(0,5) (26,9)%		 52,1%
31,6%
15,9%
0,4%		 53,2%
28,8%
17,6%
0,5%
TOTAL 295,3
301,4 (6,1)
(2,0)%		 65,3
67,2 (2,0)
(2,9)%		 41,5
47,5 (6,0) (12,6)%		 402,0
416,1 (14,1)
(3,4)%		 100,0% 100,0%
% Tot 73,4%
72,4%		 16,2%
16,2%		 10,3%
11,4%		 100,0%
100,0%

9M - % Revenues by Geographical Area

==> picture [387 x 126] intentionally omitted <==

----- Start of picture text -----

15,9% 17,6%
31,6% 28,8%
52,1% 53,2%
2025 2024
EMEA North America Asia e Oceania
----- End of picture text -----

9M - % Revenues by Product Line

==> picture [453 x 131] intentionally omitted <==

----- Start of picture text -----

10,3% 11,4%
16,2% 16,2%
73,4% 72,4%
2025 2024
BCF (fiber for carpet) NTF (fiber for fabrics) Polymers
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21

Annex - Consolidated Income Statement – Revenues 3Q

Q3 BCF(fiber for carpet)
NTF(fiber for fabrics)		 BCF(fiber for carpet)
NTF(fiber for fabrics)		 Polymers TOTAL TOTAL TOTAL
€/mln 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 2025
2024
Δ
Δ%		 %25 %24
EMEA
North America
Asia e Oceania
RoW		 35,9
40,3
(4,4) (10,9)%
33,8
32,5
1,3
4,1 %
18,9
21,8
(2,9) (13,2)%
0,2
0,1
0,1
62,4 %		 13,3
12,9
0,4
2,9 %
5,7
6,1
(0,4)
(6,0)%
0,9
0,9
(0,1)
(7,8)%
0,2
0,4
(0,2) (41,3)%		 10,5
10,3
0,1
1,2 %
1,3
2,1
(0,8) (39,9)%
0,3
0,6
(0,3) (52,0)%
0,0
0,0
0,0
N.A.		 59,6
63,5
(3,9)
(6,1)%
40,8
40,6
0,1
0,3 %
20,0
23,3
(3,2) (14,0)%
0,4
0,5
(0,1) (17,2)%		 49,3%
33,7%
16,6%
0,4%		 49,6%
31,8%
18,2%
0,4%
TOTAL 88,8
94,6 (5,8)
(6,2)%		 20,1
20,3 (0,2)
(1,1)%		 12,0
13,0 (1,0)
(7,8)%		 120,9
127,9
(7,1)
(5,5)%		 100,0% 100,0%
% Tot 73,5%
74,0%
16,6%
15,9%
49,3%
49,6%
33,7%
31,8%
16,6%
18,2%
2025
2024
3Q - % Revenues by Geographical Area
EMEA
North America
Asia e Oceania		 9,9%
10,2%
100,0%
100,0%
73,5%
74,0%
16,6%
15,9%
9,9%
10,2%
2025
2024
3Q - % Revenues by Product Line
BCF (fiber for carpet)
NTF (fiber for fabrics)
Polymers

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22

Annex - EBITDA and Adjusted Operating Results

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RECONCILIATION FROM NET PROFIT TO EBITDA€/000 September
2025

September
2024

Third
quarter 2025

Third
quarter 2024
Net Profit (Including Portion Attr. to Minority )
Income Taxes
Investment income and charges
Amortisation & Depreciation
Write-downs & Write-backs of intangible and tangible assets
Financial items ()
No recurringitems (*)		 424
( 123)
( 78)
39.407
1.474
8.696
5.148		 ( 8.779)
( 1.552)
( 110)
40.207
27
16.486
1.792		 ( 1.800)
( 394)
0
12.080
( 19)
4.556
2.152		 ( 2.646)
( 532)
( 110)
13.220
38
4.777
743
EBITDA
Revenue
EBITDA Margin		 54.949
402.022
13,7%		 48.072
416.075
11,6%		 16.575
120.864
13,7%		 15.490
127.942
12,1%
RECONCILIATION FROM EBITDA TO
EBIT ADJUSTED€/000		 September
2025

September
2024

Third
quarter 2025

Third
quarter 2024
EBITDA
Amortisation & Depreciation
Write-downs & Write-backsof intangible andtangible assets		 54.949
( 39.407)
(1.474)		 48.072
( 40.207)
(27)		 16.575
( 12.080)
19		 15.490
( 13.220)
(38)
EBIT Adjusted
Revenue
EBIT Adjusted Margin		 14.067
402.022
3,5%		 7.838
416.075
1,9%		 4.515
120.864
3,7%		 2.232
127.942
1,7%

(*) The financial items include: (i) financial charges and other bank charges of Euro (11.5) million; (ii) cash discounts of Euro (1.9) million; (iii) financial income of Euro 0.9 million, and (iv) foreign exchange gains/(loss) of Euro 3.8 million.

(**) This includes (i) non-recurring charges related to Group expansion for Euro (0.1) million, (ii) non-recurring costs for legal and administration consulting for Euro (0.7) million; (iii) restructuring costs for Euro (1.3) million, (iv) other non-recurring costs for Euro (0.4) million mainly due to electrical blackout in Aquafil S.p.A.; (v) non-recurring charges related to the reorganization of Aquafil Carpet Collection and Aquafil Carpet Recycling #1 for Euro (2.6) million.

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23

Annex - Consolidated Balance Sheet (1/2)

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CONSOLIDATED BALANCE SHEET At September 30, At December 31,
€/000 2025 2024
Intangible Assets 12.307 15.168
Goodwill 14.214 16.064
Tangible Assets 206.693 233.900
Financial Assets 796 969
of which related parties 236 270
Investments & Equity metod 1.113 1.113
Other Assets
of which related parties
Deferred Tax Assets 31.695 29.231
Total Non-Current Assets 266.819 296.445
Inventories 179.324 197.535
Trade Receivable 26.638 20.370
of which related parties 286 97
Financial Current Assets 1.166 980
of which related parties 2 2
Current Tax Receivables 922 1.529
Other Current Assets 9.403 8.033
of which related parties 0 0
Cash and Cash Equivalents 157.210 130.366
Asset held for sales 0 0
Total Current Assets 374.663 358.813
Total Assets 641.483 655.258

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24

Annex - Consolidated Balance Sheet (2/2)

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CONSOLIDATED BALANCE SHEET At September 30, At December 31,
€/000 2025 2024
Share Capital 53.354 53.354
Reserves 80.969 121.311
Group Net Profit for the year 424 ( 16.313)
Group Shareholders Equity 134.748 158.352
Net Equity attributable to minority interest 0 0
Net Profit for the year attributable to minority interest 0 0
Total Sharholders Equity 134.748 158.352
Employee Benefits 4.449 4.627
Non-Current Financial Liabilities 282.480 241.535
of which related parties 1.754 3.902
Provisions for Risks and Charges 2.710 1.611
Deferred Tax Liabilities 10.806 12.808
Other Payables 2.573 4.053
of which related parties 0 0
Total Non-Current Liabilities 303.018 264.634
Current Financial Liabilities 102.907 103.208
of which related parties 2.982 4.146
Current Tax Payables 1.160 242
Trade Payables 80.529 109.178
of which related parties 149 396
Other Liabilities 19.121 19.644
of which related parties 0 0
Total Current Liabilities 203.716 232.272
Total Equity and Liabilities 641.483 655.258

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25

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Annex - Consolidated Cash Flow Statement (1/2)

CASH FLOW STATEMENT At September 30, At September 30,
€/000 2025 2024
Operation Activities
Net Profit (Including Portion Attr. to Minority) 424 (8.779)
of which related parties (362) (296)
Income Taxes (123) (1.552)
Income (loss) from equity Investments (78) (110)
of which related parties (78) (110)
Financial income (871) (1.061)
of which related parties (2)
Financial charges 11.508 16.138
of which related parties 156 70
FX (Gains) and Losses (3.835) (741)
(Gain)/Loss on non - current asset disposals (112) (43)
Provisions & write-downs 1.474 27
Amortisation,depreciation & write-downs 39.407 40.207
Cash Flow from Operating Activities Before Changes in NWC 47.794 44.088
Change in Inventories 9.945 4.126
Change in Trade and Other Receivables (8.428) (3.092)
of which related parties (189) 106
Change in Trade and Other Payables (25.692) (21.571)
of which related parties (247) (408)
Change in Other Assets/Liabilities (3.209) 270
of which related parties
Employees Benefit (145) (614)
Change in Provisions for Risks and Charges (214) (76)
Income taxpaid (2.307) (3.004)
Net Interest Expenses (10.574) (14.374)
TOTAL CASH FLOW FROM OPERATING ACTIVITIES 7.170 5.753

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26

Annex - Consolidated Cash Flow Statement (2/2)

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CASH FLOW STATEMENT At September 30, At September 30,
€/000 2025 2024
Investing activities
Investment in Tangible Assets (14.955) (14.591)
Disposal of Tangible Assets 656 129
Investment in Intangible Assets (2.279) (2.129)
Disposal of Intangible Assets
Reclassification 93
Dividends 78 110
Investment of Financial Assets (113)
TOTAL CASH FLOW FROM INVESTING ACTIVITIES (16.406) (16.594)
Changes in Equity
Effect of exchange rate changes (3.988) 302
Other changes in equity 28
Financing Activities
Increase in no current Loan and borrowing 67.202 20.000
Decrease in no current Loan and borrowing (56.043) (51.393)
Increase Bond loan 50.000
Repayment of bond loan (13.143) (12.962)
Derivatives
Net variation in current and not current fiancial Assets and Liability (375) 3.399
of which related parties 31 (170)
Net variation in RoU fiancial assets and liability (7.574) (7.515)
of which related parties (3.039) (935)
TOTAL CASH FLOW FROM FINANCING ACTIVITIES 36.080 (48.140)
NET CASH FLOW OF THE YEAR 26.844 (58.981)
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27

Annex - Net Financial Debt

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NET FINANCIAL DEBT At September 30, At December 31,
€/000 2025 2024
A. Liquidity 157.210 130.366
B. Cash and cash equivalents
C. Other current financial assets 1.166 980
D. Liquidity (A + B + C) 158.376 131.346
E. Current financial debt (including debt instruments but excluding the current
portion of non-current financial debt) ( 3.816) ( 4.082)
F. Currentportion of non-current financialdebt (99.090) (99.125)
G. Current financial debt(E + F) ( 102.907) ( 103.208)
H. Net current financial debt(G - D) 55.469 28.138
I. Non-current financial debt (excluding current portion and debt instruments) ( 201.025) ( 197.199)
J. Debt instruments ( 81.585) ( 44.481)
K.Tradepayablesandother non-currentpayables
L. Non-current financial debt(I +J + K) ( 282.610) ( 241.681)
M. Total financial debt(H + L) ( 227.141) ( 213.542)

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aquafil.com econyl.aquafil.com www.dryarn.comdryarn.com

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