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Esprinet — Interim / Quarterly Report 2026
May 13, 2026
4497_rns_2026-05-13_724fd59f-5c9c-4cec-a963-ddc1a7e0505b.pdf
Interim / Quarterly Report
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| Informazione Regolamentata n. 0533-14-2026 | Data/Ora Inizio Diffusione 13 Maggio 2026 18:05:12 | Euronext Star Milan |
|---|---|---|
Societa': ESPRINET
Utenza - referente: ESPRINETN05 - Perfetti Giulia
Tipologia: REGEM; 2.2
Data/Ora Ricezione: 13 Maggio 2026 18:05:12
Oggetto: ESPRINET BOARD OF DIRECTORS APPROVES GROUP FINANCIAL RESULTS AS OF 31 MARCH 2026. THE FIRST QUARTER OF THE YEAR SHOWS GROWTH AND THE ABILITY TO CONSISTENTLY GENERATE VALUE
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esprinet
GROUP
Press release pursuant to CONSOB Regulation No. 11971/99
ESPRINET BOARD OF DIRECTORS APPROVES GROUP FINANCIAL RESULTS AS OF 31 MARCH 2026
THE FIRST QUARTER OF THE YEAR SHOWS GROWTH AND THE ABILITY TO CONSISTENTLY GENERATE VALUE
- Sales from contracts with customers: Euro 1,064.7 million, up compared with the previous year
- EBITDA Adj.: Euro 15.7 million, solid growth compared to the previous year, thanks to diversification across the Group's three divisions
- Net income: Euro 2.8 million, confirming the effectiveness of the business model
- Net financial position: Euro 350.4 million, due to the acquisitions completed at the end of 2025
- Guidance 2026: EBITDA Adj. expected between Euro 71 and 77 million, with the market growing
Vimercate (Monza Brianza), 13 May 2026 – The Board of Directors of ESPRINET, a leading Group in Southern Europe in the distribution of high-tech products and the supply of applications and services for digital transformation and the green transition, has approved the Additional Periodic Financial Information as of 31 March 2026, prepared in accordance with IFRS international accounting standards.
Giovanni Testa, Chief Executive Officer and General Manager of ESPRINET: "The financial results highlight the Group's solidity and confirm the validity of the strategic path undertaken, supported by quality growth and a continued ability to generate value. The positive performance of revenue, which amounted to Euro 1,064.7 million, a significant increase compared with the previous year, and of EBITDA Adjusted, up +44% compared with 31 March 2025 and equal to Euro 15.7 million, are figures that underline the effectiveness of the business model, the quality of the order portfolio and the efficiency of the industrial initiatives launched. Particularly significant is the net profit figure, which stood at Euro 2.8 million and represents a key indicator of the Esprinet Group's ability to translate operating growth into sustainable economic value for all stakeholders. Furthermore, the diversification lever across three divisions of Esprinet, V-Valley and Zeliatech, represents a key element in seizing new opportunities, consolidating our competitive position and continuing to create value. Although the international context remains complex and marked by high uncertainty, the Group continues to operate in a market supported by solid structural trends linked to innovation, technological transformation, artificial intelligence and cybersecurity. In this phase, the role of distribution is confirmed as central in supporting manufacturers' go-to-market strategies and ensuring continuity along the value chain, even in the presence of supply-chain tensions. We therefore look to 2026 with determination and confidence, leveraging the resilience of our business model, the diversification of our portfolio and our ability to seize new growth opportunities."
esprinet V-Valley Zeliatech BLUDIS DACOM idMRINT Udera Siffer VAMATO CELLY n:lox //UITO//AS
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MAIN CONSOLIDATED RESULTS AS AT 31 MARCH 2026
Sales from contracts with customers, measured net of the application of the accounting standard IFRS 15 and other adjustments, amounted to Euro 1,064.7 million in the first quarter of 2026, +11% compared to Euro 962.4 million in the previous year.
| Net Sales (€/million) | Q1 2026 | Q1 2025 | Var. | % Var. |
|---|---|---|---|---|
| Italy | 684.9 | 661.0 | 23.9 | 4% |
| Spain | 441.6 | 354.7 | 86.9 | 24% |
| Portugal | 26.5 | 23.3 | 3.3 | 14% |
| Morocco | 7.0 | 5.2 | 1.8 | 34% |
| Total Gross Sales¹ | 1,159.9 | 1,044.1 | 115.8 | 11% |
| Reconciliation adjustments | -95.2 | -81.7 | -13.5 | 16% |
| Total Net Sales | 1,064.7 | 962.4 | 102.3 | 11% |
Looking at the performance of the business lines in which the Group operates, in the first three months of 2026, within the scope of the Esprinet division, which manages the historical business of the distribution of information technology and consumer electronics products, gross sales from Screens (PCs, Tablets and Smartphones) grew by 13% compared with the same period of the previous year. This was driven above all by demand for Windows 11 PCs, together with a more substantial increase in purchases in anticipation of memory shortages. Gross revenue in the Devices segment, on the other hand, showed a trend in line with the first quarter of 2025.
Within the scope of the V-Valley division, which provides advanced solutions (Solutions) for digitalisation, cloud computing and cybersecurity, and responds to the need of customers and suppliers with Services to manage the increased complexity generated by digital transformation, the Group recorded a sales increase of 11%. Revenue from Solutions and Services, after application of IFRS 15, amounted to Euro 237.1 million, representing 22% of total sales.
Finally, the Zeliatech division, set up in 2024 to be Europe's first green tech distributor offering technologies to enable the convergence of digital and green economy, up 40% reaching Euro 61.9 million in revenues.
Analysing the customers segments, in Q1 2026, the Group's gross sales show the following trends: Consumer Segment (Retailer/E-tailer) at Euro 296.5 million slightly down (-1%) compared to the same period of the previous year, Business Segment (IT Reseller) at Euro 863.4 million up 16% compared to the same period of the previous year.
Gross Profit amounted to Euro 59.6 million, marking +9% compared to the first three months of 2025 (Euro 54.4 million). The increase in revenues contributed to this result, the percentage margin in fact stands at 5.60% compared to 5.65% in the period January-March 2025.
EBITDA Adjusted, which coincides with EBITDA given that no non-recurring costs were recorded, amounted to Euro 15.7 million, +44% compared to Euro 10.8 million as at 31 March 2025. The ratio to revenues stood at 1.47% from 1.13% as at 31 March 2025.
Operating costs were broadly in line with the same three-month period last year (+1%). Personnel costs increased (+5%) as a result of collective bargaining agreement rises and the inclusion in the
¹ Measured gross reconciliation adjustments, i.e. the application of IFRS 15 accounting and other minor adjustments.
| esprinet | V-Valley | Zeliatech | ||||
|---|---|---|---|---|---|---|
| BLUDIS | DACOM | idMRINT | udera | silver | VAMATO | CELLY |
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consolidation scope of Vamat B.V., acquired in October 2025. Other operating costs, on the other hand, recorded a sharp decrease (-6%).
Their incidence on revenues fell to 4.12%, compared with 4.53% in the first quarter of 2025.
EBIT Adjusted, which corresponds to EBIT as no non-recurring costs were recorded, amounted to Euro 9.6 million, more than doubling the Euro 4.7 million reported in the first quarter of the prior year.
Pre-tax profit was Euro 4.5 million (Euro 1.1 million in Q1 2025).
Net result amounted to Euro 2.8 million (Euro 0.5 million in the first three months of 2025).
The Net result per ordinary share amounted to Euro 0.06 (Euro 0.01 as at 31 March 2025).
The Cash Conversion Cycle² closed at 26 days (unchanged compared to Q4 25 and +2 days with respect to Q1 25).
The Net Financial Position was a negative Euro 350.4 million, compared to a negative balance of Euro 336.6 million as at 31 March 2025 and a negative balance of Euro 43.8 million as at 31 December 2025. The change compared with 31 December 2024 is due to the usual higher average level of working capital invested in the first quarter of the year compared with the final quarter of the previous year. The change compared with 31 March 2025 is mainly attributable to the price paid for the acquisitions completed in the final quarter of 2025. It is always considered that the value of the exact net financial position is influenced by technical factors like the seasonality of the business, the trend in 'non-recourse' assignments of trade receivables (factoring, confirming and securitisation) and the trend in the behavioural models of customers and suppliers in the different periods of the year. Therefore, it is not representative of the average levels of net financial indebtedness noted during the period. The aforementioned factoring and securitisation programmes, which define the complete transfer of risks and benefits to the assignees and therefore involve the derecognition of receivables from the statement of financial position assets in compliance with IFRS 9, determine an overall effect on the level of consolidated net financial payables as at 31 March 2026 of Euro 381.6 million (Euro 375.9 million as at 31 March 2025 and Euro 488.7 million as at 31 December 2025).
Net Equity amounted to Euro 392.4 million compared to Euro 390.0 million as at 31 March 2025.
The ROCE stood at 6.1%, compared to 6.4% as at 31 March 2025.
| (€/million) | Q1 2026 | Q1 2025 |
|---|---|---|
| LTM Operating Profit (Adj. EBIT)³ | 47.4 | 40.2 |
| NOPAT⁴ | 32.1 | 30.0 |
| Average Net Invested Capital⁵ | 525.6 | 469.7 |
| ROCE⁶ | 6.1% | 6.4% |
² Equal to the average number of days of turnover of Operating Net Working Capital of the last 4 quarters, calculated as the sum of trade receivables, inventories and trade payables.
³ Equal to the sum of EBITs – excluding the effects of IFRS 16 – in the last 4 quarters.
⁴ LTM Operating Profit (Adj. EBIT), as defined above, net of taxes calculated at the actual tax rate of the last annual consolidated financial statements published excluding items deemed non-recurring.
⁵ Equal to the average of "Loans" at the closing date of the period and at the four previous quarterly closing dates (excluding the equity effects of IFRS 16).
⁶ Equal to the ratio between (a) NOPAT, as defined above, and (b) the average net invested capital as defined above.
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GUIDANCE 2026
The start of 2026 was marked by a rapid deterioration in the geopolitical environment, with effects on end-consumer demand and corporate investment that remain difficult to estimate. In this context, structural dynamics supporting spending on innovation and modernisation remain favourable: technology refresh cycles, investment in artificial intelligence and a greater focus on cybersecurity are expected to support the ICT market, which is also forecast to grow by a low- to mid-single-digit rate in 2026.
At a time of profound technological evolution, the distribution channel remains central to manufacturers' go-to-market strategies. Furthermore, the shortage of memory products and the resulting pressure on the supply chain – which analysts expect to persist – strengthen the sector's role as an orchestrator of the value chain.
Assuming no further external shocks and a gradual stabilisation of the crisis in the Middle East, the Group is tackling the high level of uncertainty with determination, leveraging its diversification across the three divisions – Esprinet, V-Valley and Zeliatech – to mitigate market cycles and seize targeted opportunities. Initiatives will continue in digital transformation, expansion of the European presence in the green transition, innovation of service models and digital platforms, as well as investment in people and corporate culture. Against this backdrop, and in light of the positive results achieved in the first quarter, the Group is issuing EBITDA Adjusted guidance of between Euro 71 million and Euro 77 million, compared with Euro 69.7 million last year, with targets to improve working capital.
SUBSEQUENT EVENTS
Annual Shareholders' Meeting of the parent company Esprinet S.p.A.
The Ordinary Shareholders' Meeting of Esprinet S.p.A. was held on 23 April 2026, which:
- approved the Financial Statements as at 31 December 2025 and resolved to allocate the net profit for the year, amounting to Euro 5,206,468.53, as follows:
- to exchange rate valuation reserve Euro 63,504.00;
- to extraordinary reserve Euro 5,142,964.53;
- having examined the Consolidated Financial Statements as at 31 December 2025 and the Consolidated Sustainability Report 2025 prepared in accordance with Legislative Decree 6 September 2024, no. 125;
- resolved to distribute a dividend of Euro 0.35 gross of withholding taxes for each of the outstanding ordinary shares;
- resolved to appoint Giovanni Testa as director, as the natural successor to the resigning Chief Executive Officer and Chief Strategic Officer, Eng. Alessandro Cattani, until the date of the Shareholders' Meeting to be convened for the approval of the financial statements as at 31 December 2026, and, therefore, until the end of the current Board of Directors' term;
- resolved to approve, by means of a favourable and binding resolution, the first section of the Report on Remuneration under Article 123-ter, paragraph 3-bis of Italian Legislative Decree 58/1998;
- resolved to approve, by means of a favourable and non-binding resolution, the second section of the Report on Remuneration under Art.123-ter, paragraph 6 of Legislative Decree 58/1998;
- authorised the purchase and disposal of treasury shares, for a period of 18 months from the date of the resolution, within the maximum limit of 2,520,870 ordinary shares of Esprinet S.p.A. without indication of face value and fully paid up, equal to 5% of the Company's share capital,
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subject to the revocation by the Shareholders' Meeting of April 17, 2025, of the authorization for the portion not yet executed.
The manager responsible for preparing the Company's accounting documents, Stefano Mattioli, declares that, in compliance with the provisions of paragraph 2 of art. 154-bis of Legislative Decree No. 58/1998 (TUF - Consolidated Law on Finance), the financial data shown in this press release correspond to the findings resulting from accounting documents, books and records.
It is noted, with regard to the statutory financial statements, that these are data for which the statutory audit has not been completed and, with regard to the reclassified financial statements, that these are data that have not been audited by the independent auditors.
Esprinet Group, a leader in southern Europe in the distribution of high-tech products and in the provision of applications and services for digital transformation and green transition, is a group of companies acting under the direction of the holding company Esprinet S.p.A. With over 1,800 employees and a turnover of Euro 4.3 billion in 2025, the Group companies operate through three main brands: Esprinet, V-Valley and Zeliatech. Since 2025, the Group has also been present in the Benelux and Ireland, as well as in Italy, Spain, Portugal and Morocco.
The parent company (PRT:IM - ISIN IT0003850929) is listed on the Italian Stock Exchange in the Euronext STAR Milan segment and participates in UN Global Compact, adhering to its approach based on the principles of responsible business.
Press release available on www.esprinet.com and
For further information:
INVESTOR RELATIONS
CORPORATE COMMUNICATION
ESPRINET SpA
Tel +39 02 404961
Giulia Perfetti
[email protected]
ESPRINET SpA
Tel +39 02 404961
Paola Bramati
[email protected]
CORPORATE COMMUNICATION CONSULTANTS
COMIN & PARTNERS
Federica Gramegna
E-mail: [email protected]
Mob: 338 222 9807
Giulia Mori
E-mail: [email protected]
Mob: 347 493 8864
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SALES BY GEOGRAPHICAL AREA
By Country of residence of the customers
| Net Sales (€/million) | Q1 2026 | Q1 2025 | Var. | % Var. |
|---|---|---|---|---|
| Italy | 631.1 | 615.0 | 16.1 | 3% |
| Spain | 383.5 | 306.2 | 77.3 | 25% |
| Portugal | 23.4 | 21.1 | 2.3 | 11% |
| Other EU countries | 18.3 | 14.0 | 4.3 | 31% |
| Other non-EU countries | 8.4 | 6.1 | 2.3 | 38% |
| Sales from contracts with customers | 1,064.7 | 962.4 | 102.3 | 11% |
By invoicing Country?
| Net Sales (€/million) | Q1 2026 | Q1 2025 | Var. | % Var. |
|---|---|---|---|---|
| Italy | 650.0 | 630.7 | 19.2 | 3% |
| Spain | 386.6 | 306.9 | 79.7 | 26% |
| Portugal | 23.3 | 21.1 | 2.3 | 11% |
| Morocco | 4.8 | 3.6 | 1.1 | 31% |
| Sales from contracts with customers | 1,064.7 | 962.4 | 102.3 | 11% |
SALES AND EBITDA BY PRODUCT TYPE
| (€/million) | Net Sales | EBITDA Adjusted | EBITDA Adjusted % | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Q1 2026 | Q1 2025 | Var. | % Var. | Q1 2026 | Q1 2025 | Var. | % Var. | Q1 2026 | Q1 2025 | Var. | |
| Screens | 563.9 | 494.1 | 69.8 | 14% | 2.6 | 1.9 | 0.7 | 37% | 0.46% | 0.38% | 0.08% |
| Devices | 201.9 | 199.8 | 2.1 | 1% | 1.2 | -0.4 | 1.6 | >100% | 0.59% | -0.20% | 0.79% |
| Esprinet total | 765.8 | 693.9 | 71.9 | 10% | 3.8 | 1.5 | 2.3 | >100% | 0.50% | 0.22% | 0.28% |
| Solutions | 232.9 | 220.0 | 12.9 | 6% | 9.1 | 6.9 | 2.2 | 32% | 3.91% | 3.14% | 0.77% |
| Services | 4.2 | 4.7 | -0.5 | -11% | 1.4 | 1.9 | -0.5 | -26% | 33.33% | 40.43% | -7.09% |
| V-Valley total | 237.1 | 224.7 | 12.4 | 6% | 10.5 | 8.8 | 1.7 | 19% | 4.43% | 3.92% | 0.51% |
| Green Tech | 61.8 | 43.8 | 18.0 | 41% | 1.4 | 0.5 | 0.9 | >100% | 2.27% | 1.14% | 1.12% |
| Zeliatech total | 61.8 | 43.8 | 18.0 | 41% | 1.4 | 0.5 | 0.9 | >100% | 2.27% | 1.14% | 1.12% |
| Total | 1,064.7 | 962.4 | 102.3 | 11% | 15.7 | 10.8 | 4.8 | 44% | 1.47% | 1.13% | 0.34% |
| Net Sales | |||||||||||
| --- | --- | --- | --- | --- | |||||||
| (€/million) | Q1 2026 | Q1 2025 | Var. | % Var. | |||||||
| Screens | 565.1 | 499.9 | 65.2 | 13% | |||||||
| Devices | 202.3 | 202.1 | 0.2 | 0% | |||||||
| Esprinet total | 767.5 | 702.1 | 65.4 | 9% | |||||||
| Solutions | 326.3 | 293.0 | 33.3 | 11% | |||||||
| Services | 4.2 | 4.8 | -0.5 | -11% | |||||||
| V-Valley total | 330.5 | 297.8 | 32.7 | 11% | |||||||
| Green Tech | 61.9 | 44.3 | 17.6 | 40% | |||||||
| Zeliatec total | 61.9 | 44.3 | 17.6 | 40% | |||||||
| Total Gross Sales | 1,159.9 | 1,044.1 | 115.8 | 11% | |||||||
| Reconciliation adjustments | -95.2 | -81.7 | -13.5 | 16% | |||||||
| Total | 1,064.7 | 962.4 | 102.3 | 11% |
7 Values calculated on the basis of the Group structure, therefore by invoicing country. Data not subject to auditing.
8 The values shown may differ from those previously published as they represent updates and evolutions in clustering that have been adopted subsequently for the purposes of more homogeneous comparability.
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SALES BY CUSTOMER TYPE
| (€/million) | Q1 2026 | Q1 2025 | Var. | % Var. |
|---|---|---|---|---|
| Retailer, E-tailer (Consumer Segment) | 296.5 | 298.8 | -2.3 | -1% |
| IT Reseller (Business Segment) | 863.4 | 745.3 | 118.1 | 16% |
| Reconciliation adjustments | -95.2 | -81.7 | -13.5 | 16% |
| Sales from contracts with customers | 1,064.7 | 962.4 | 102.3 | 11% |
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RECLASSIFIED CONSOLIDATED INCOME STATEMENT
| (€/000) | Q1 2026 | Q1 2025 | % Var. |
|---|---|---|---|
| Sales from contracts with customers | 1,064,699 | 962,368 | 11% |
| Cost of goods sold excl. factoring/securitisation | 1,002,261 | 904,650 | 11% |
| Financial cost of factoring/securisation(1) | 2,865 | 3,305 | -13% |
| Gross Profit(2) | 59,573 | 54,413 | 9% |
| Gross Profit % | 5.60% | 5.65% | |
| Personnel costs | 27,211 | 25,854 | 5% |
| Other operating costs | 16,707 | 17,710 | -6% |
| EBITDA adjusted(3) | 15,655 | 10,849 | 44% |
| EBITDA adjusted % | 1.47% | 1.13% | |
| Depreciation and amortisation | 2,164 | 2,271 | -5% |
| IFRS 16 Right of Use depreciation | 3,853 | 3,876 | -1% |
| Goodwill impairment | - | - | n/s |
| EBIT adjusted(3) | 9,638 | 4,702 | >100% |
| EBIT adjusted % | 0.91% | 0.49% | |
| Non recurring costs | - | - | n/s |
| EBIT | 9,638 | 4,702 | >100% |
| EBIT % | 0.91% | 0.49% | |
| IFRS 16 interest expenses on leases | 1,100 | 1,178 | -7% |
| Other financial (income) expenses | 2,918 | 3,089 | -6% |
| Foreign exchange (gains) losses | 1,088 | (712) | >100% |
| Cost (income) from investments | - | - | n/s |
| Result before income taxes | 4,532 | 1,147 | >100% |
| Income taxes | 1,698 | 653 | >100% |
| Net result | 2,834 | 494 | >100% |
| - of which attributable to non-controlling interests | - | - | n/s |
| - of which attributable to the Group | 2,834 | 494 | >100% |
NOTES
(1) Cash discounts for 'non-recourse' advances of trade receivables as part of revolving factoring, confirming and securitisation programmes.
(2) Gross of amortisation/depreciation that, by function, would be included in the cost of sales.
(3) Adjusted given gross of non-recurring items.
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CONSOLIDATED SEPARATE INCOME STATEMENT
| (€/000) | Q1 2026 | non - recurring | Q1 2025 | non - recurring |
|---|---|---|---|---|
| Sales from contracts with customers | 1,064,699 | - | 962,368 | - |
| Cost of sales | (1,005,594) | - | (908,506) | - |
| Gross profit | 59,105 | - | 53,862 | - |
| Sales and marketing costs | (21,197) | - | (20,827) | - |
| Overheads and administrative costs | (28,773) | - | (28,276) | - |
| Impairment loss/reversal of financial assets | 503 | - | (57) | - |
| Operating result (EBIT) | 9,638 | - | 4,702 | - |
| Finance costs - net | (5,106) | - | (3,555) | - |
| Result before income taxes | 4,532 | - | 1,147 | - |
| Income tax expenses | (1,698) | - | (653) | - |
| Net result | 2,834 | - | 494 | - |
| - of which attributable to non-controlling interests | - | - | ||
| - of which attributable to Group | 2,834 | - | 494 | - |
| Earnings per share - basic (euro) | 0.06 | 0.01 | ||
| Earnings per share - diluted (euro) | 0.06 | 0.01 |
CONSOLIDATED COMPREHENSIVE INCOME STATEMENT
| (€/000) | Q1 2026 | Q1 2025 |
|---|---|---|
| Net result (A) | 2,834 | 494 |
| Other comprehensive income: | ||
| - Changes in translation adjustment reserve | (9) | 14 |
| Other comprehensive income not be reclassified in the separate income statement: | ||
| - Changes in 'TFR' equity reserve | 87 | 56 |
| - Taxes on changes in 'TFR' equity reserve | (21) | (13) |
| Other comprehensive income (B): | 57 | 57 |
| Total comprehensive income (C=A+B) | 2,891 | 551 |
| - of which attributable to Group | 2,891 | 551 |
| - of which attributable to non-controlling interests | - | - |
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RECLASSIFIED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| (€/000) | 31/03/2026 | 31/12/2025 |
|---|---|---|
| Fixed assets | 284,062 | 293,492 |
| Operating net working capital | 459,429 | 139,568 |
| Other current assets/liabilities | 26,525 | 28,471 |
| Other non-current assets/liabilities | (27,171) | (28,253) |
| Total uses | 742,845 | 433,278 |
| Short-term financial liabilities | 293,049 | 68,397 |
| Lease liabilities | 14,354 | 14,146 |
| Financial assets held for trading | (209) | (213) |
| Financial receivables from factoring companies | (278) | (585) |
| Current debts for investments in subsidiaries | 1,906 | 6,000 |
| Other financial receivables | (7,913) | (8,834) |
| Cash and cash equivalents | (154,152) | (230,562) |
| Net current financial debt | 146,757 | (151,651) |
| Borrowings | 92,710 | 74,911 |
| Lease liabilities | 110,972 | 120,548 |
| Net Financial debt | 350,439 | 43,808 |
| Net equity | 392,406 | 389,470 |
| Total sources of funds | 742,845 | 433,278 |
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CONSOLIDATED STATEMENT OF FINANCIAL POSITION
| (€/000) | 31/03/2026 | 31/12/2025 |
|---|---|---|
| ASSETS | ||
| Non - current assets | ||
| Property, plant and equipment | 23,526 | 23,154 |
| Right of use assets | 114,514 | 124,032 |
| Goodwill | 123,020 | 123,020 |
| Intangibles assets | 10,924 | 11,305 |
| Receivables and other non - current assets | 12,078 | 11,981 |
| 284,062 | 293,492 | |
| Current assets | ||
| Inventory | 683,435 | 641,182 |
| Trade receivables | 698,312 | 828,821 |
| Income tax assets | 2,223 | 2,811 |
| Other assets | 84,821 | 86,740 |
| Financial assets held for trading | 209 | 213 |
| Cash and cash equivalents | 154,152 | 230,562 |
| 1,623,152 | 1,790,329 | |
| Total assets | 1,907,214 | 2,083,821 |
| EQUITY | ||
| Share capital | 7,861 | 7,861 |
| Reserves | 381,711 | 361,436 |
| Group net income | 2,834 | 20,173 |
| Group net equity | 392,406 | 389,470 |
| Non - controlling interest | - | - |
| Total equity | 392,406 | 389,470 |
| LIABILITIES | ||
| Non - current liabilities | ||
| Borrowings | 92,710 | 74,911 |
| Lease liabilities | 110,972 | 120,548 |
| Deferred income tax liabilities | 12,786 | 12,441 |
| Retirement benefit obligations | 5,021 | 5,199 |
| Provisions and other liabilities | 9,364 | 10,613 |
| 230,853 | 223,712 | |
| Current liabilities | ||
| Trade payables | 922,318 | 1,330,435 |
| Short-term financial liabilities | 293,049 | 68,397 |
| Lease liabilities | 14,354 | 14,146 |
| Income tax liabilities | 3,268 | 1,622 |
| Debts for investments in subsidiaries | 1,906 | 6,000 |
| Provisions and other liabilities | 49,060 | 50,039 |
| 1,283,955 | 1,470,639 | |
| Total liabilities | 1,514,808 | 1,694,351 |
| Total equity and liabilities | 1,907,214 | 2,083,821 |
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CONSOLIDATED CASH FLOW STATEMENT
| (euro/000) | Q1 2026 | Q1 2025 |
|---|---|---|
| Cash flow provided by (used in) operating activities (D=A+B+C) | (307,876) | (293,966) |
| Cash flow generated from operations (A) | 15,895 | 11,140 |
| Operating income (EBIT) | 9,638 | 4,702 |
| Depreciation, amortisation and other fixed assets write-downs | 6,017 | 6,147 |
| Net changes in provisions for risks and charges | 334 | 129 |
| Net changes in retirement benefit obligations | (135) | (15) |
| Stock option/grant costs | 41 | 177 |
| Cash flow provided by (used in) changes in working capital (B) | (321,255) | (304,412) |
| Inventory | (42,253) | (4,733) |
| Trade receivables | 130,509 | 121,068 |
| Other current assets | 1,270 | 11,844 |
| Trade payables | (408,619) | (427,308) |
| Other current liabilities | (2,162) | (5,283) |
| Other cash flow provided by (used in) operating activities (C) | (2,516) | (694) |
| Interests paid | (1,945) | (1,136) |
| Received interests | 161 | 198 |
| Foreign exchange (losses)/gains | (587) | 244 |
| Income taxes paid | (145) | - |
| Cash flow provided by (used in) investing activities (E) | (2,252) | (1,112) |
| Investments in property, plant and equipment | (2,108) | (1,163) |
| Disposals of property, plant and equipment | 21 | 57 |
| Investments in intangible assets | (68) | (4) |
| Disposals of intangible assets | - | 3 |
| Net investments in other non current assets | (97) | (5) |
| Cash flow provided by (used in) financing activities (F) | 233,718 | 290,210 |
| Medium/long term borrowing | 28,000 | - |
| Repayment/renegotiation of medium/long-term borrowings | (7,175) | (4,034) |
| Leasing liabilities remboursement | (4,049) | (3,144) |
| Net change in financial liabilities | 219,749 | 297,628 |
| Net change in financial assets and derivative instruments | 1,287 | (240) |
| Deferred price acquisitions | (4,094) | - |
| Net increase/(decrease) in cash and cash equivalents (G=D+E+F) | (76,410) | (4,868) |
| Cash and cash equivalents at year-beginning | 230,562 | 216,250 |
| Net increase/(decrease) in cash and cash equivalents | (76,410) | (4,868) |
| Cash and cash equivalents at year-end | 154,152 | 211,382 |
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Declaration of the Financial Reporting Manager
DECLARATION PURSUANT TO ART. 154-bis, paragraph 2, of the TUF
SUBJECT: Additional periodic financial information as at 31 March 2026
The undersigned Stefano Mattioli, the Financial Reporting Manager of
ESPRINET S.p.A.
in accordance with the provisions set forth in Article 154 bis, of the "Finance Consolidation Act"
HEREBY DECLARES
that the Additional periodic financial information as at 31 March 2026 corresponds to the accounting documents, books and records.
Vimercate, 13 May 2026
Financial Reporting Manager
(Stefano Mattioli)
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| Fine Comunicato n.0533-14-2026 | Numero di Pagine: 15 |
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