Basic Net SpA

Investor Presentation • Jul 31, 2024

BasicNet

6m 2024 RESULTS CONFERENCE CALL

TURIN, 31 ST JULY 2024

EXECUTIVE SUMMARY NETWORK ACTIVITY

6m 2024

GROUP INTERIM RESULTS 6m 2024

EXECUTIVE SUMMARY

With the overall market conditions still being challenging, BasicNet benefits from its Brands portfolio and geographical presence as the most performing markets and products sustain the level of Consolidated revenues. Net indebtedness with banks in reduction compared to H1 2023 after the payment of dividends.

TOTAL AGGREGATED SALES

6m aggregated sales amounted to € 543,7 mln (-2,6% YoY) with mixed performances across the Brands. Aggregated sales of sourcing centers (ASSC) were reduced by -5,4% compared to H1 2023 as the rationalization of direct purchases continues. ASL went down -1,5% with continuing struggles in Americas.

GROUP CONSOLIDATED REVENUES

Group consolidated revenues amounted to € 173,9 mln (- 3,4% YoY): direct sales suffered a minor contraction with a partial recovery in Q2 after a slow start of the year and an overall good performance from the e-comm channel. Royalties from commercial and productive licensees followed the same dynamics as aggregated sales.

EBITDA

EBITDA stood at € 17,6 mln (€ 22,6 mln in H1 2023) as the lower marginality was partially offset by a reduction in variable sales costs, and other entry and exit fees from licensees. Marketing and communication investments and labour costs increase as compared to Y-1 due to the effect of sponsorship agreements and new hirings made in Q3 2023.

NFP WITH BANKS

Net Financial Position with banks at € 93,1 mln (compared to € 92,6 mln at YE 2023) as the Group has paid the second instalment of K-Way France earn-out and distributed dividends in excess of € 7 mln. Net debt with banks is overall lower than H1 2023, with a positive trend thanks to the ongoing effort to optimize trade working capital.

TOTAL AGGREGATED SALES (TAS) € 543,7 mln € 173,9 mln

CONSOLIDATED REVENUES

NETWORK ACTIVITY 6m 2024

ASL - GEOGRAPHIC AREA

in € million	30.06.24	in %	30.06.23	in %	Var	Var %
Europe	297,7	76,3%	279,6	70,6%	18,1	6,5%
Asia and Oceania	22,2	5,7%	28,9	7,3%	-6,7	-23,3%
Americas	29,4	7,5%	44,8	11,3%	-15,4	-34,4%
Middle East and Africa	41,0	10,5%	42,9	10,8%	-1,9	-4,5%
Total ASL	390,3	100,0%	396,2	100,0%	-5,9	-1,5%

Briko | Zara Gran Fondo Briko Kappa | Big Mamma

Kappa Kontroll

Orient Express BAM 2024 Rimini Wellness

Q2 MARKETING

Antonia pop-up | Milano Design Week Superga x Martini

Stores openings | Turkey, Philippines

Superga x anGostura

Pitti Uomo 106

Artisan Collection with OPERA

Sebago x Cucchi

Sebago Campsides Askook x Dynamo the Good Company Genoa CFC lifestyle

GROUP INTERIM RESULTS 6m 2024

CONSOLIDATED REVENUES

NET FINANCIAL POSITION

in € .000	30.06.24	in %	30.06.23	in %	Var	Var%
Sub-total net money holdings	(47.437)	32,75%	(37.427)	27,1%	(10.011)	26,75%
Short-term portion of m/l term loans	(11.844)		(15.428)		3.584
Short-term net financial position	(59.281)	40,93%	(52.854)	38,2%	(6.427)	29,50%
Long-term portion of m/l term loans	(33.471)		(44.021)		10.551
Financial leasing payables	(369)		(153)		(216)
Sub-total loans and leasing payables	(33.839)	23,36%	(44.174)	31,9%	10.335	-23,40%
Net financial position with banks	(93.121)	64,29%	(97.028)	70,1%	3.908	-4,03%
Right of use debts	(43.633)		(31.570)		(12.064)
Payables for future acquisition of company shares	(8.081)		(9.738)		1.657
Net financial position	(144.835)	100,00%	(138.336)	100,0%	(6.499)	4,70%

NET FINANCIAL POSITION WALK

- € 92,6 mln

- € 93,1 mln

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

THANK YOU