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Biesse Investor Presentation 2026
4501_rns_2026-05-14_a2830fed-a577-4184-9214-dd0e97dd1019.pdf
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Biesse Group
Q1 2026 Financial Results
Conference phone call
14th May 2026
Biesse
Q1 2026 Financial Results
Biesse presence worldwide
~3,700
total employees of which 43% out of Italy
~23%
of revenue in North & South America
~64,5%
of revenue in EMEA
~12,5%
of revenue in APAC
Manufacturing Sites in
3 countries
Showroom & Biesse Material Hub Network
in 20 Countries
Key facts and data Q1 2026
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MAIN INDICATORS
- Net revenues: amounted to €146m, down 4,7% compared to Q1 2025. The FY2026 FX impact was negative for €5,2m vs. Q1 2025; at constant exchange rates, the decline would have been limited to -1,3%.
- Ebitda Adj: margin stood at 1,7%, compared to 2,9% in Q1 2025. The significant cost reduction resulting from the activation of the contingency plan helped mitigate the negative impact of lower revenues.
- Headcount: decreased by 218 employees compared to Q1 2025, of which 189 in Italy, primarily driven by the closure of manufacturing facilities in Northern Italy.
- Order Intake: ongoing geopolitical uncertainties are driving a phase of slowdown and wait-and-see across global markets. Q1 2026 performance is broadly in line with Q4 2025, marking an improvement compared to the trend observed in Q2 and Q3 2025, while remaining 12% below Q1 2025, which had benefited from an unusually strong peak.
- NFP: deterioration in Q1 2026 (€12,6m) was broadly in line with the typical seasonality of the business and compares favorably with the Q1 2025 outflow (€20,0m).
Revenue mix shifted further towards Service & Parts and Components, partially offset by a softer contribution from Machines & Lines, which remained broadly in line with Q1 2025 levels.
From a geographical standpoint, a positive contribution is observed in the Americas region, particularly driven by Canada and Brazil.
Q1 2026 Financial Results
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Sales Q1 2026 vs Q1 2025
BY PRODUCT
Sales Q1 2026 vs Q1 2025 -7,2 Mln (-4,7%)
BY GEOGRAPHY
Sales Q1 2026 vs Q1 2025 -7,2 Mln (-4,7%)
MACHINES & LINES BY MATERIAL
Sales Machines & Lines Q1 2026 vs Q1 2025 -6,1 Mln (-6%)
Worst | SALES Δ CY vs PY
Of which INEEA
ITALY -2,9 (-15%)
NORDIC +1,3 (-25%)
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Profit & Loss
| In €m | Q1 2026 | % on Revenues | Q1 2025 | % on Revenues |
|---|---|---|---|---|
| Revenues from sales & services | 146,1 | 100% | 153,3 | 100% |
| Raw material consumption | (57,0) | -39,0% | (56,5) | -36,9% |
| Variable production&distribution costs | (10,4) | -7,1% | (9,7) | -6,4% |
| Gross Margin | 78,7 | 53,8% | 87,0 | 56,8% |
| % on Revenues | 53,8% | 56,8% | ||
| Fixed Operating expenses | (20,4) | -14,0% | (22,9) | -15,0% |
| Other revenues | 1,5 | 1,0% | 2,1 | 1,4% |
| Personnel expenses | (57,2) | -39,2% | (61,8) | -40,3% |
| EBITDA adjusted (1) | 2,5 | 1,7% | 4,4 | 2,9% |
| % on Revenues | 1,7% | 2,9% | ||
| D&A | (8,4) | -5,7% | (8,7) | -5,7% |
| Provisions | 0,3 | 0,2% | (0,3) | -0,2% |
| EBIT adjusted (1) | -5,6 | -3,9% | -4,7 | -3,0% |
| % on Revenues | -3,9% | -3,0% | ||
| Non recurring-items* | (0,4) | -0,3% | 0,0 | 0,0% |
| EBIT | -6,1 | -4,2% | -4,7 | -3,0% |
| % on Revenues | -4,2% | -3,0% | ||
| Financial income & expenses, FX | (1,2) | -0,8% | 1,3 | 0,8% |
| Income taxes | 1,0 | 0,7% | 0,6 | 0,4% |
| Profit/Loss for the period | -6,3 | -4,3% | -2,8 | -1,8% |
| % on Revenues | -4,3% | -1,8% | ||
| Δ Q1 2026/Q1 2025 | A % | |||
| --- | --- | |||
| -7,2 | -4,7% | |||
| (0,5) | 0,8% | |||
| (0,7) | 7,3% | |||
| -8,4 | -9,6% | |||
| -2,9% | ||||
| 2,5 | -10,9% | |||
| (0,6) | -29,9% | |||
| 4,6 | -7,4% | |||
| -1,9 | -44,0% | |||
| -1,2% | ||||
| 0,3 | -3,8% | |||
| 0,6 | -184,8% | |||
| -1,0 | -20,6% | |||
| -0,8% | ||||
| (0,4) | ||||
| -1,4 | -30,1% | |||
| -1,1% | ||||
| (2,5) | -193,8% | |||
| 0,5 | 86,1% | |||
| -3,4 | n.a. | |||
| -2,4% |
The current geopolitical environment is creating challenging market conditions, with cross-regional and cross-business impacts. FX had a negative impact of approximately €5m compared to 2025
Gross margin decreased versus 2025, primarily driven by a negative mix/pricing effect for 1,4% and an adverse FX impact of 1,6%.
Significant cost reduction across both fixed costs and personnel expenses, driven by the implementation of the contingency plan.
D&A remained broadly in line with Q1 2025.
Lower provisions due to adequate existing reserves.
Adverse FX impact, reflecting an unfavorable reversal versus the positive contribution recorded in 2025.
Q1 2026 Financial Results
Bridge net results Q1 2026 vs Q1 2025
The net result for March 2026 is (€ 6,3m), showing a decrease of (€ 3,5m) compared to Q1 2025, with an incidence on revenues amounting to (4,3%), compared to 1,8% in March 2025. The main changes are detailed below:
Q1 2026 Financial Results
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Headcount Trend
| Headcount | MAR 2026 | % | MAR 2025 | % | Δ | Δ % |
|---|---|---|---|---|---|---|
| Italy | 2.026 | 56% | 2.196 | 57% | -170 | -8% |
| Rest of the world | 1.586 | 44% | 1.634 | 43% | -48 | -3% |
| TOTAL | 3.612 | 100% | 3.830 | 100% | -218 | -5,7% |
| Headcount | MAR 2026 | DEC 2025 | SEP 2025 | JUN 2025 | MAR 2025 | |
| --- | --- | --- | --- | --- | --- | |
| Italy | 2.026 | 2.049 | 2.106 | 2.117 | 2.196 | |
| Rest of the world | 1.586 | 1.614 | 1.617 | 1.590 | 1.634 | |
| TOTAL | 3.612 | 3.663 | 3.723 | 3.707 | 3.830 | |
| Delta vs Mar 26 | -51 | -111 | -95 | -218 |
The Group's headcount decreased by 218 units compared to March 2025, of which 170 HC were within the Italy perimeter and 48 in the rest of the world, representing a percentage change of (5,7%).
The Group's headcount decreased by 662 units compared to March 2024.
Q1 2026 Financial Results
Balance Sheet highlights
II NWC increases by €5,7 million compared to FY 2025 mainly for:
- decrease in trade receivables -€2,3 million;
- decrease in trade payables +€0,9 million;
- increase in contract liabilities -€5,6 million;
- increase in inventory +€12,8 million.
The NFP decreases by €12,6 million compared to FY 2025 mainly for:
- Free Cash Flow adj from continuing operations +€2,5 million;
- NWC variation -€5,7 million;
- Net cash interest and taxes -€0,2 million;
- CAPEX and rents -€4,0 million;
- Other assets/liabilities & Funds -€4,7 million;
- Non-recurring financial outflows: -€0,4 million.
The Equity decreases by €7,6 million compared to FY 2025 mainly for:
- Loss of the period -€6,3 million;
- Other comprehensive income -€1,3 million.
Q1 2026 Financial Results
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Q1 2026 Cash flow bridge
The Q1 2026 NFP is negative for € 11,2 million, decreasing by €12,6 million compared to FY 2025.
- Other assets/liabilities&Funds (-3,4), Non-recurring financial outflows (-0,4), Currency (-1,3)
Q1 2026 Financial Results
Stock performance & consensus
INTESA
SANPAOLO
23 March 2026: 8:33 CET
BUY Target Price: EUR 8.0
Biesse - Key Data
| Price date (market close) | 20/03/2026 |
|---|---|
| Target price (EUR) | 8.0 |
| Target upside (%) | 55.34 |
| Market price (EUR) | 5.15 |
| Market cap (EUR M) | 141.12 |
| 52Wk range (EUR) | 8.38/4.95 |
Banca A kros
GRUPPO BANCO BPM
24 March 2026
Accumulate
Recommendation unchanged
Share price: EUR 5.18
closing price as of 23/03/2026
Target price: EUR 7.00
Target Price unchanged
Q1 2026 Financial Results
Shareholder distribution
Biesse Board of Directors
- Roberto Selci (President & C.E.O.)
- Stefano Porcellini (Deputy C.E.O.)
- Salvatore Giordano
- Rossella Schiavini
- Federica Ricceri
- Cristina Sgubin
- Pier Giorgio Bedogni
Shareholders distribution
Top 5 Shareholders
Q1 2026 Financial Results
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Disclaimer
This presentation has been prepared independently by Biesse S.p.A. and can be used only during meetings with investors and financial analysts. It's solely for information purposes and it may contain statements regarding future financial performances and Company's expectations
Biesse is not responsible for the content processed by third parties and content indicated in this Document. No liability is accepted by or on behalf of Biesse for any errors, omissions or inaccuracies contained in this presentation.
This document has been prepared solely for this presentation and does not constitute any offer or invitation to sell or any solicitation to purchase any share in the Company.
Any forward looking statements are not guarantees of future performances and is related only of the date of this document. They are based on the Group's current state of knowledge, future expectations and projections about the future events. By their nature they are subject to inherent risks and uncertainties.
Further information concerning the Group results, including factors that could materially affect the Company itself (i.e. IFRS) will be included and detailed in the Financial Statement of the Group.
For further details on the Biesse S.p.A. reference should be made to publicly available information, including the Quarterly Reports, the Half Annual Report, the Annual Reports and the Three Years Business Plan.
The Manager in Charge of preparing the Company financial reports hereby certifies that the accounting disclosures of this document are consistent with the accounting documents, ledgers and entries.
Any reference to past performance of the Biesse S.p.A. shall not be taken as an indication of future performance.
This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
No action should be taken or omitted based on the informations contained in this Document. Biesse accepts no liability for the results of any action taken on the basis of the informations contained in this Document.
By attending the presentation you agree to be bound by the foregoing terms.
The User is not granted any license or right of use and therefore is not allowed to record such content – in whole or in part- on any type of media, reproduce, copy, publish and use them for any purpose without prior written permission.
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Biesse
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Q1 2026
Q&A
THANKS
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