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Interpump Group — Investor Presentation 2025
Aug 6, 2025
4294_rns_2025-08-06_d9e73893-0fae-481a-a57b-ddced94c287c.pdf
Investor Presentation
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- KEY HIGHLIGHTS ▪ KEY HIGHLIGHTS
- 2Q2025 FINANCIAL RESULTS
- 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ GROUP SUSTAINABILITY PATH
- GROUP APPROACH TO M&A
• GROUP SUSTAINABILITY PATH
- OUTLOOK
- OUTLOOK ▪ ANNEX
• ANNEX


-30%
-20%
-15%
-10%
-5%
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10%
40%
50%

- 2Q2025: the first quarter of growth after six consecutive quarters of decline
- ‒ Organic sales: +1%
- Acceleration of Water Jetting growth and early signs of Hydraulics improvement
- ‒ Organic Profitability: +6.8% with 100bps of improvement
- Effective minimisation of negative flow through
- Benefit of sales sequential improvement
- Cash generation: effective management of sales growth impact and CAPEX normalisation
- ‒ Organic sales: +1%
- 2025 outlook: guidance range confirmed
- Sales: between -5% and +1% on organic basis
- EBITDA margin: between 22% and 22.5%
- Cash generation: consolidation of 2024 achievement
GROUP 2020-2025 ORGANIC SALES EVOLUTION by QUARTER

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q20252Q2025
2025 SALES & EBITDA ORGANIC EVOLUTION % change compared to previous reporting period

Sales EBITDA


- KEY HIGHLIGHTS
- 2Q2025 FINANCIAL RESULTS



- 2Q2025
- Sales: Water Jetting growth stronger than Hydraulics normalisation
- Profitability: effective minimisation of negative flow through, benefits of sales sequential improvement and "US tariffs" tailored countermeasures
- NFP: management of sales growth impact and CAPEX normalisation
| Million € |
2QUARTER | 1HALF | ||||
|---|---|---|---|---|---|---|
| 2024 | 2025 | 2024 | 2025 | |||
| Sales Group Growth , of which Organic ▪ Perimeter change (1) ▪ FX impact ▪ |
549 8 -7.2% -9 .5% 1% +2 -0 2% |
555 4 +1.0% +1 0% 3% +2 -2 3% |
1 095 7 , -7.5% -9 3% 9% +1 -0 1% |
1 076 9 , -1.7% -3 .5% .7% +2 -0 9% |
||
| EBITDA(2) Growth sales % on net |
124 6 -14 .5% 22.7% |
132 1 +6 0% 23.8% |
251 9 -14 .7% 23.0% |
249 4 -1 0% 23.2% |
||
| Net Income |
62 5 |
60 4 |
130 1 |
117 3 |
||
| (3) NFP |
516 8 |
369 9 |
(1) 2025 relevant perimeter change: Alltube (consolidated since May 2024), Alfa Valvole (consolidate since June 2024), H.S. (consolidate since July 2024) and Hidrover (consolidated since December 2024) - (2) Excluding € 62.5m and € 45.8m of subsidiaries purchase commitments in 2025 and 2024 respectively


▪ Hydraulics
2Q2025
- Sales: early signs of improvement
- EBITDA: ongoing margin protection, profitability down by 9% compared to a sales decline of around 7%
- Water-Jetting
- Sales: important additional development steps in "shipyard&marine" market application in China
- EBITDA: full benefit of sales growth
| 2QUARTER | 1HALF | |||||
|---|---|---|---|---|---|---|
| Million € | 2024 | 2025 | 2024 | 2025 | ||
| C LI U |
SALES Growth |
379.8 -13.3% |
352.0 -7.3% |
771.5 -12.8% |
695.5 -9.8% |
|
| A R D Y H |
EBITDA (1) Growth % on net sales |
81.1 -21.3% 21.3% |
73.8 -9.0% 20.9% |
166.6 -21.3% 21.6% |
143.1 -14.1% 20.5% |
|
| No diluition impact from acquisitions |
||||||
| G R- N |
SALES Growth |
170.1 +10.5% |
203.3 +19.5% |
324.2 +8.1% |
381.4 +17.6% |
|
| E TI T A T W E J |
EBITDA Growth % on net sales |
43.5 +1.9% 25.5% |
58.3 +34.0% 28.5% |
85.4 +2.0% 26.1% |
106.3 +24.6% 27.7% |


- 2Q2025: first quarter of growth after six consecutive quarters of decline
- Hydraulics: organic decreased halved compared 1Q2025, -7.0% versus -14.5%
- Water Jetting: organic growth much stronger than acquisitions impact due to additional business in China

2Q2025 GROUP SALES EVOLUTION

2Q2025 HYDRAULICS SALES EVOLUTION 2Q2025 WATER JETTING SALES EVOLUTION

100
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6



500
2024 ORGANIC PERIMETERS FX


1H2025 HYDRAULICS SALES EVOLUTION 1H2025 WATER JETTING SALES EVOLUTION



- In Spring 2024 Group concluded an agreement for a chemical industry project dedicated to the production of low-density polyethylene entailing the supply of many Hampro high-pressure pump units
- Quality and reliability are the most important features of these pumps driven by
- High volume flow combined with very compact design
- Large selection of material available for different fluids
- Low pulsations and vibrations
- Group once again demonstrated its ability to successfully transfer its water-related know-how to other fluids, laying the groundwork for further future developments

A HAMPRO® 300 process plunger pump



- Last April Group signed an agreement with for nearly 100 ultra-high-pressure water jet systems and ship cleaning equipment's
- Group customer is one of China's leading private shipyards with its four-dock, sixteen-berth shipyard complex and 4,013-meter coastline, boasts an annual ship repair capacity exceeding 500 vessels
- Benefits of the new equipment
- Enhance efficiency: improved surface preparation
- Reduce energy consumption: achieve significant resource savings
- Support green transition: provide technical solutions for sustainable maritime industry transformation

Surface detail of a naval hull Different levels of hull cleaning depending on water pressure and application time of the cleaning equipment
▪ A joint manufacturing effort between Group European operations and local 3rd party suppliers allowed to execute the order in less than two months and to deliver it between June and July

A Group cleaning dockboy

2Q2025 EBITDA – ONGOING ADJUSTEMENT TO MARKET CONDITIONS


(1) Management controlling system data – (2) In the graph "purchase" is net of "inventories changes" and "total other income"
NFP – CAPEX NORMALISATION VERSUS SALES RECOVERY IMPACT
- NFP of € 397m compared to € 409m as of December 2024(1)
- FCF: € 76m, effective margin protection and CAPEX normalisation mitigated TWC absorption
- 1H2025: CAPEX down 42% to € 54m but receivable increase of 15% driven by sales sequential improvement
2Q2025
– 2Q2025: FCF equal to € 46m in line with 2Q2024 despite strong sales improvement




(1) Excluding € 62.5m and € 45.8m purchase commitments in 2025 and 2024 – (2) Includes € 6.7m of Padoan acquisition advance payment recorded in the CFS as "change in other financial assets"
0
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- New Interpump Hydraulics headquarter
- 62,000sq. metres, of which almost 24,000sq. covered, a total area increase of around 30%
- Best environmental standards
- Transfer process is nearing completion
- Following the registered office relocation a few days ago, Interpump Hydraulic will be fully operational as of September



Interpump Hydraulics – The rendering, the entrance and a new machinery department in Sala Bolognese (Italy)


▪ Padoan
2Q2025
- Specialised in the production and sale of oil, diesel and combined tanks for industrial vehicles and machinery
- 2024: approximately € 15m of sales, more than 17% of EBITDA margin
- Another "perfect fit"
- Extension of product range
- Synergies with other products in Group portfolio
- The complete "Wet-KIT": pump, tank, tipping valve, front end cylinder and hoses&fittings
- Construction of a sector presence in Europe as strong as the one in North America
- Integration with Interpump Hydraulic network


Padoan – Brochure details


- KEY HIGHLIGHTS
- 2Q2025 FINANCIAL RESULTS
- GROUP SUSTAINABILITY PATH

2Q2025 2025 ACTIONS
- Activities are progressing according to the established schedule
- Due to their inherent nature, results will be assessable only at the end of the reporting period
| 2023-2025 ESG JOURNEY | |||||||
|---|---|---|---|---|---|---|---|
| 2025 ACTIONS | UPDATINGS | ||||||
| E.2 (1) | Carbon intensity reduction | ||||||
| E.3 (1) | Increase of renewable energy consumption | ||||||
| E.5 | Circular economy – Phase 2 |
||||||
| E.6 | Water monitoring system | ||||||
| S.3 | Increase of non-compulsory training | ||||||
| S.4 | Global mobility program | Approved by the Board of Directors on 14 November 2024 |
|||||
| S.7 | Diversity & inclusion model definition | ||||||
| G.5 (2) | GR1 207-4 information updating | ||||||
| G.6 (2) |
Updating on ESG journey |


- KEY HIGHLIGHTS
- 2Q2025 FINANCIAL RESULTS
- GROUP SUSTAINABILITY PATH
- GROUP APPROACH TO M&A


- Since IPO in 1996 Group generated around € 3b (1) of Operating Cash Flow
- Almost 80% of the resources were reinvested to pursue development and operational excellence
- − Around 20% were deployed to shareholders


(1) Operating Cash Flow (including the positive/negative impact of IFRS Adjustment, financial interest costs/gains, FX differences …) - (2) Commitment to Shareholders = dividend + net buy back


- "Diversification" is the ultimate target of Group development strategy
- Proper management of "business risk"
- Volatility reduction through multiple cycles exposure
- Effective reaction to unexpected swings
- Proper management of "business risk"
- Almost 30 year of diversification
- By "divisions"
- Complementary nature
- Improved fit to the different economic cycles
- By "geography" (1)
- Material reduction of Italy weight, with "Europe-Ex-Italy" close 30% of total Group sales
- India and China almost 5% of Group sales respectively
- By "market applications"
- Expansion in new market application, e.g. Food&Beverage close to 10% of Group sales (1)
- By "divisions"
2Q2025 ▪GROUP APPROACH TO M&A – 1996-2024 GROUP EVOLUTION


(1) 2007 excluding "Electric Motor" division subsequently disposed – (2) "Breakdown by application" based on oldest available data (2013) consistent with 2021 breakdown - Intercompany sales excluded


PZB, Hydrocar, Muncie, Takarada


- Enabling Group diversification strategy
- By division
- By geography
- By market application
▪ Technological excellence
– Distinctive and unique products or production processes
▪ Managerial excellence
- Entrepreneurial approach
- Capability to adapt to Group decentralised operational business model
▪ Growth opportunities
- Different opportunities according to acquisition size
- Add-on acquisitions: market and "product verticals" strengthen
- Sizeable acquisitions: market entrance and "product verticals" building
- Synergies with other Group products, leveraging on Group network and connections
- E.g. Reggiana Riduttori support with US customers


AND
- Well-run, privately owned companies preferred
- No turnaround or restructuring stories
- Activities consistent from an industrial and commercial standpoint with those already present in the Group

▪ Actors involved
- Group: M&A managerial committee and industrial specialists
- M&A managerial committee: Executive Chairman, CEO, CFO, General Counsel
- Industrial specialists: members of the Operational Coordination Committee
- External advisors: law firms and auditors
▪ Deal flows
- Entire Group network
- From sales & marketing representatives to top management
- Seller sider financial advisors and bankers
▪ Due diligence steps
- Financial, tax, legal and ESG due diligence
- EBITDA
- Inventory
- Industrial due diligence
- Products
- Factories


- Management
- Entrepreneurial approach
- Capability to adapt to Group decentralised operational business model
▪ Evaluation process
- Multiples, EV/EBITDA
- Compliance with Group M&A guidelines
- Profitability: no structural reduction of Group EBITDA margin below 22%
- Leverage (1): no structural increase above 1.5x
▪ Negotiation
- % of holding: flexible but majority
- Selling party involvement more than welcome but control stake and financial consolidation mandatory
- ➢ Below 100%: minorities acquisitions in few years and way-out preventive definition
- o Put & call with "earn out" or "rachet" on future results
- ➢ Below 100%: minorities acquisitions in few years and way-out preventive definition
- Selling party involvement more than welcome but control stake and financial consolidation mandatory
- Payment: flexible, cash and/or Group shares


▪ Soft integration
- Supporting companies to naturally evolve, not to become another Interpump
- Executive managers confirmed
- Processes and IT systems not replaced but connected with Group ones
- Brands, supply chains and sales network preserved
- Only legal entities merged whenever possible
- Important changes applied only when clear value addition is present
- Benefits
- No disruption and earning generation from day 1
- Immediate improvement of EBITDA
- Synergies with other Group companies: e.g. integration of commercial & distribution networks, "purchase" button up approach
- Faster payback

2Q2025 ▪GROUP APPROACH TO M&A – A COMPARISON

| TRADITIONAL APPROACH | PRIVATE EQUITY APPROACH | INTERPUMP APPROACH | ||
|---|---|---|---|---|
| PURPUSE | Standardisation, restructuring and integration as branch |
Reselling at profit | Development in continuity | |
| VALUE PROPOSITION | New shape and life, with a new structure and role under a new branch and a long-term vision |
Highest payers | Joint effort to target flourish |
|
| PAID MULTIPLES | High (influenced by industry health and market trends) |
Very high (heavily influenced by interest rate) |
Reasonable (related to tangible industrial value) |
|
| RESTRUCTURING COSTS | Very high | High | Minimal | |
| EXECUTION RISKS | High in the restructuring phase | High | Modest | |
| TOP-LINE TREND | Usually slowed down by uncertainty and restructuring |
Could be disrupted by talent leaving |
Usually not impacted by acquisition and growing |
|
| MARGINS | Could go negative during restructuring |
Short-term improvement forced, long-term value at risk |
Structurally improved after acquisition |


- Entrance and development in Flow Processing, key technologies to address F&B, pharma and cosmetics sector applications
- ‒ 2015: Bertoli(1)
- ‒ 2017: Inoxpa(2) and Mariotti & Pecini(3)
- ‒ 2023: I.Mec(4) and Waikato(5)
- ‒ 2024: PP China & YRP Flow Tecnology(6) and Alfa Valvole(7)
- In the early 2020s, M&A process was slowed down by Private Equity competition which suggested a more conservative and wise approach in terms of paid offered, normalisation of interest rates led to a new development phase GROUP EVOLUTION IN FLOW PROCESSING (8)
- Some of the most recent acquisitions are still in an early stage development phase or had to face demanding market conditions between 2023 and 2024, the improvement profitability path is undergoing

(1) In 2015 more than € 10m of sales and an EBITDA margin close to 21% - (2) In 2017 around 60m of sales and EBITDA margin above 19% - (3) In 2017 close to 10m of sales and an EBITDA margin of 33% - (4) In 2022 close to € 20m of sales and EBITDA margin of 23% - (5) In 2022 € 45m of sales and an EBITDA margin of 14% - (6) In 2023 € 10m of sales and an EBITDA margin of 10% - (7) In 2023 € 28m of sales and an EBITDA margin of 26% - (8) For Bertoli and Mariotti&Pecini, after merger in Interpump S.p.A. the "net industrial margin" represents the profitability KPI
0,0
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200,0
300,0
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0,4

- Entrance and development in Power Transmission business
- ‒ 2019: Reggiana Riduttori(1) and afterwards Transtecno(2)
- ‒ 2020: DZ Transmission(3)
- ‒ 2021: Berma(4)
- ‒ 2022: Draintech(5)
- In 4 years, Group became one of the most important player in Italy
- Results consistently improved, according to Group growth strategy
- COVID normalisation impact was successfully managed with an effective profitability protection

(1) In 2018 close to € 90m of sales and an EBITDA margin of 20% - (2) In 2018 around to € 45m of sales and an EBITDA margin close to 20% - (3) In 2019 around € 5m of sales and an EBITDA margin of 25% - (4) In 2021 around € 30m of sales and an EBITDA margin of 30% % - (5) In 2021 around € 5m of sales and an EBITDA margin of 20%
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GROUP EVOLUTION IN POWER TRANSMISSION
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2022-25 INTERPUMP GROUP ACQUISITIONS
| ACQUIRED COMPANIES | FINANCIAL DATA (1) | % of | PRICE | GROUP | ||
|---|---|---|---|---|---|---|
| Sales | EBITDA | Additional Information |
HOLDING | PAID | DIVISION |
2022
| 11 April | DRAINTECH Italy |
€ 4m | 20% | - | 80% | € 2.6m | Hydraulics |
|---|---|---|---|---|---|---|---|
| 20 October | EUROFLUID Italy |
€ 28m | 20% | - | 80% | € 26.4m | Hydraulics |
2023
| 20 February | INDOSHELL AUTOMOTIVE SYSTEM India |
€ 12m | € 2m | - | 85% | € 8m | Hydraulics |
|---|---|---|---|---|---|---|---|
| 20 April | I.MEC Italy |
€ 17m | 23% | - | 70% | € 14 | Water Jetting |
| 18 May | WAIKATO New Zealand |
NZD \$ 80m | 14% | - | 100% | NZD \$ 30m | Water Jetting |
(1) 2021 Reported for Draintech and 2022 Forecast for Eurofluid – 2023E for Indoshell, 2022R for both I.Mec and Waikato


| ACQUIRED COMPANIES | FINANCIAL DATA (1) | % of | PRICE | GROUP | |||||
|---|---|---|---|---|---|---|---|---|---|
| Sales | EBITDA Margin |
Additional Information |
HOLDING | PAID | DIVISION | ||||
| 2024 | |||||||||
| 9 April | PP CHINA YRP FLOW TECNOLOGY China |
€ 10m | 10% | - | 60% 60% |
€ 2.9m | Water Jetting | ||
| 22 April | ALLTUBE U.K. |
€ 5m | 15% | € 1m of cash | 100% | € 2.3m | Hydraulics | ||
| 3 June | ALFA VALVOLE Italy |
€ 28m | 26% | € 11m of cash | 100% | € 55.2m | Water Jetting | ||
| 24 October | HIDROVER Brasil |
€ 23m | 26% | € 3m of cash | 59% | € 17.5m | Hydraulics | ||
| 2025 | |||||||||
| 16 June | PADOAN Italy |
€ 15m | 17% | - | 65% | € 16m | Hydraulics |
(1) 2023 Reported for PPChina & YRP Flow Technology, Alltube and Alfa Valvole and 2024 Forecast for Hidrover – 2024 Reported for Padoan


- KEY HIGHLIGHTS
- 2Q2025 FINANCIAL RESULTS
- GROUP SUSTAINABILITY PATH
- GROUP APPROACH TO M&A
- OUTLOOK


- July evolution(1) consistent with previous months evolution
- Local production and tailored countermeasures allowed Group to minimise "US tariffs" impact in 2Q2025
- Group will maintain actions which protected profitability and is ready to evaluate additional medium long-term solution if possible and convenient
- 2025 outlook
2Q2025
- Sales: between -5% and +1% on organic basis
- More than 2% of impact coming from 2024-25 acquisitions (2)
- EBITDA margin: between 22% and 22.5%
- Diversification and flexibility
- Cash generation: consolidate 2024 achievement
- Ongoing TWC and CAPEX normalisation
- In February 2026 next medium-long term updating


- DISCLAIMER ▪ KEY HIGHLIGHTS
- 4Q-2023 DETAILS ▪ 2Q2025 FINANCIAL RESULTS
- 2023 ESG ACTIONS ▪ GROUP SUSTAINABILITY PATH
- GROUP APPROACH TO M&A
- OUTLOOK
- ANNEX


▪ DISCLAIMER




The Group uses several alternative measures that are not identified as accounting parameters in the framework of the IFRS standards in order to allow the trend of economic operations and the Group's financial position to be better evaluated. Such indicators can also assist the directors in identifying operating trends and making decisions on investments, resource allocation and other business matters. The measurement criterion applied by the Group may therefore differ from the criteria adopted by other groups and so may not be comparable with them. Such alternative performance indicators are constituted exclusively starting from the Group's historical data and measured in compliance with the Guidelines on Alternative Performance Measures issued by ESMA/2015/1415 and adopted by Consob with communication no. 92543 of 3 December 2015. These indicators refer only to performance in the period illustrated in this Interim Board of Directors' Report and the comparative periods and not to expected performance, so they must not be seen as replacing the indicators required by the reference accounting standards (IFRS). Finally, the alternative indicators are processed with continuity and using uniform definitions and representations for all the periods for which financial information is included in this Interim Board of Directors' Report.
The performance indicators used by the Group are defined as follows:
- Acquisitions: acquisition of equity investments, including received debt and net of treasury shares assigned
- Capital expenditure (CAPEX): the sum of investment in property, plant and equipment and intangible assets, net of divestments;
- Capital employed: calculated as the sum of shareholders' equity and net financial position, including debts for the acquisition of equity investments;
- Earnings/(Losses) before interest and tax (EBIT): Net sales plus Other operating income less Operating costs (Cost of sales, Distribution costs, General and administrative expenses, and Other operating costs)
- Earnings/(Losses) before interest, tax, depreciation and amortization (EBITDA): EBIT plus depreciation, amortization, write-downs and provisions;
- Free Cash Flow: the cash flow available to the Group, defined as the difference between the cash flow of operating activities and the cash flow for investments in tangible and intangible fixed assets;
- Leasing IFRS16: principal portion of finance lease installments +/- new leasing contracts arranged +/- remeasurement and early close-out of leasing contracts
- Net Buy-back: disbursements for purchase of treasury shares +/- proceeds from the sale of treasury shares to stock option beneficiaries
- Net CAPEX: "investment in property, plant & equipment" less "proceeds from the sales of property, plant & equipment + "investment in other intangible assets"
- Net indebtedness (Net financial position): calculated as the sum of Loans obtained and Bank borrowing less Cash and cash equivalents;


- Organic: at constant perimeter and FX
- Return on capital employed (ROCE): EBIT / Capital employed;
- Return on equity (ROE): Net profit / Shareholders' equity;
- Trade Working Capital = NWC with "Trade Payable" net of CAPEX Trade Payable
The Group's income statement is prepared by functional area (also called the "cost of sales" method). This form is deemed to be more representative than its "type of expense" counterpart, which is nevertheless included in the notes to the Annual Financial Report. The chosen form, in fact, complies with the internal reporting and business management methods. The cash flow statement was prepared using the indirect method.

ANNEX

This document has been prepared by Interpump Group S.p.A for use during meetings with investors and financial analysts and is solely for information purposes. The information set out herein has not been verified by an independent audit company.
Neither the Company nor any of its subsidiaries, affiliates, branches, representative offices (the "Group"), nor any of their directors, officers, employees, advisers or agents (the "Group Representatives") accept any responsibility for/or make any representation or warranty, express or implied, as to the accuracy, timeliness or completeness of the information set out herein or any other related information regarding the Group, whether written, oral or in visual or electronic form, transmitted or made available.
This document may contain forward-looking statements about the Company and/or the Group based on current expectations and opinions developed by the Company, as well as current plans, estimates, projections and projects of the Group. These forwardlooking statements are subject to significant risks and uncertainties (many of which are outside the control of the Company and/or the Group) which could cause a material difference between forwardlooking information and actual future results.
The information set out in this document is provided as of the date indicated herein. Unless so required by applicable laws and regulations, the Company assumes no obligation to provide updates of any of the aforementioned forward-looking statements.
Under no circumstances shall the Group and/or any of the Group Representatives be held liable (for negligence or otherwise) for any loss or damage that may arise from any use of this document or its contents or otherwise in connection with the document or the aforementioned forward-looking statements. This document does not constitute an offer to sell or a solicitation to buy or subscribe to Company shares. Neither this document nor a portion thereof may constitute a recommendation to effect any transaction or to conclude any legal act of any kind whatsoever.
This document may not be reproduced or distributed, wholly or in part, by any person outside the Company. By viewing and/or accepting a copy of this document, you agree to be bound by the foregoing limitations.


- DISCLAIMER
- 2Q-1H2025 DETAILS


50%

GROUP 2020-2025 ORGANIC GROWTH EVOLUTION by QUARTER
2020: -12.6% - 2021: +20.1% - 2022: +13.7% - 2023: +6.9% - 2024: -9.0% - 2025YTD: -3.5%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q20252Q2025

60%

HYDRAULICS 2020-2025 ORGANIC SALES EVOLUTION by QUARTER
2020: -13.6% - 2021: +22.8% - 2022: +15.9% - 2023: +5.9% - 2024: -14.0% - 2025YTD: -10.8%

-40% 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q2025 2Q2025
WATER-JETTING 2020-2025 ORGANIC SALES EVOLUTION by QUARTER
2020: -10.8% - 2021: +14.4% - 2022: +8.5% - 2023: +9.5% - 2024: +4.6% - 2025YTD: +13.9% 30%

1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q22 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q2025 2Q2025


2024-25 INTERPUMP GROUP ACQUISITIONS
| ACQUIRED COMPANIES | FINANCIAL DATA (1) | % of | PRICE | GROUP | |||||
|---|---|---|---|---|---|---|---|---|---|
| Sales | EBITDA Margin |
Additional Information |
HOLDING | PAID | DIVISION | ||||
| 2025 | |||||||||
| 16 June | PADOAN Italy |
€ 15m | 17% | - | 65% | € 16m | Hydraulics |


▪ DISCLAIMER ▪ 2Q-1H2025 DETAILS ▪ 2024 DETAILS


SALES DETAILS – SALES BREAKDOWN (1) – GROUP ANNEX

GROUP 2024 sales: € 2.078m



HYDRAULICS 2024 sales: € 1.407m

(1) Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%

SALES DETAILS – SALES BREAKDOWN (1) ANNEX – WATER JETTING

WATER JETTING 2024 sales: € 671m

(1) Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%

47
The Manager in charge of preparing the company's financial reports declares - pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance - that the accounting information contained in this presentation corresponds to the document results, books and accounting records.
S.Ilario d'Enza, 6 August 2025
Mauro Barani