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Interpump Group Investor Presentation 2026
4294_rns_2026-05-15_16395317-a206-44ca-b3fc-56d48ff0ea0f.pdf
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INTERPUMP GROUP
1Q2026 Financial Results - 15th May 2026
1
INDEX
- KEY HIGHLIGHTS
- 1Q2026 FINANCIAL RESULTS
- OUTLOOK
- ANNEX
1Q2026
- KEY HIGHLIGHTS
1Q2026
GROUP – RESULTS CONSISTENT WITH EXPECTATIONS
Results consistent with Group expectations for the period
- Organic sales: +2.2%
- Evolution consistent with Group’s underlying assumptions
- Different performance trends across division, with Hydraulics showing a more favourable evolution with the 3rd consecutive quarter of organic growth
- Profitability: -60 bps
- Reflect a different sales mix between the 2 divisions
- Cost inflation is being gradually passed through to customers
- Cash generation:
- In the quarter amounted to over 32 million
2026 outlook
- Sales: between +3% and -2% on organic basis with a different division contribution
- EBITDA margin: between 22% and 22.5%
- Cash generation: expected to consolidate 2025 record achievement
2025 and 2026 SALES & EBITDA EVOLUTION
% organic change compared to previous reporting period
1Q2026
- KEY HIGHLIGHTS
- 1Q2026 FINANCIAL RESULTS
1Q2026
GROUP – RESULTS CONSISTENT WITH EXPECTATIONS
1Q2026
- Sales:
- Hydraulic sales performance offset weaker comparison base in Water Jetting
- Performance reflect gradual shift in contribution between the 2 divisions
- Profitability: mainly affected by the sales mix between division
- NFP: significant improvement vs 1Q 2025 due to record cash generation over the year
| Million € | 1QUARTER | |
|---|---|---|
| 2025 | 2026 | |
| Group Sales | 521.6 | 524.8 |
| Change, | -4.5% | +0.6% |
| of which | ||
| *Organic | -8.1% | +2.2% |
| *Perimeter change (1) | +3.1% | +2.3% |
| *FX impact | +0.6% | -3.9% |
| EBITDA | 117.3 | 114.7 |
| Change, | -7.9% | -2.3% |
| % on net sales | 22.5% | 21.9% |
| Net Income | 57.0 | 57.5 |
| NFP (2) | 383.3 | 294.6 |
(1) 2026 perimeter change: Padoan Group (consolidated since July 2025), Tutto Hidraulicos Ltda (consolidated since November 2025), Borghi Assali (consolidated since November 2025), F.A.R.M.A. Group (consolidated from December 2025 on a balance sheet asset wise).
(2) Excluding € 82.2m and € 67.7m of subsidiaries purchase commitments in 2026 and 2025 respectively.
1Q2026
DIVISIONS – RESULTS CONSISTENT WITH DIVISION FEATURES
- Hydraulics
- Sales: further acceleration in demand across most application fields
- EBITDA: performance reflects ongoing mitigation of cost inflation through efficiency actions and selective price adjustments
- Water-Jetting
- Sales: impacted by a particularly tough comparison base, due to the exceptionally strong performance of Hammelmann in the first quarter of 2025
- EBITDA: sales mix and lower contribution from Hammelmann compared to the prior year
| 1 QUARTER | |||
|---|---|---|---|
| Million € | 2025 | 2026 | |
| HYDRAULICS | SALES | 343.5 | 365.1 |
| Growth | -12.3% | +6.3% | |
| EBITDA | 69.3 | 73.5 | |
| Growth | -19.0% | +6.0% | |
| % on net sales | 20.1% | 20.1% | |
| WATER-JETTING | SALES | 178.1 | 159.7 |
| Growth | +15.5% | -10.3% | |
| EBITDA | 48.0 | 41.2 | |
| Growth | +14.9% | -14.2% | |
| % on net sales | 26.8% | 25.5% |
1Q2026
SALES EVOLUTION
1Q2026 GROUP SALES EVOLUTION
1Q2026 HYDRAULICS SALES EVOLUTION
1Q2026 WATER JETTING SALES EVOLUTION
1Q2026
NFP – TWC & CAPEX NORMALISATION
- NFP of € 295m compared to € 291m as of December 2025⁽¹⁾ – stable despite buy-back over the period
- FCF: € 32m, record high, supported by solid operating performance
- TWC⁽²⁾: absorption increased by approx. 38% to € 41m, mainly due to seasonal dynamics
- CAPEX⁽⁴⁾: more than 45% reduction to € 19m, ongoing normalisation process
NFP EVOLUTION⁽⁵⁾ (€ m)
FCF EVOLUTION (€ m)
⁽¹⁾ Excluding € 82.2m and € 85.0m of subsidiaries purchase commitments in 2026 and 2025 – ⁽²⁾ Trade Working Capital = NWC with “Trade Payable” net of CAPEX Trade Payable
⁽³⁾ Principal portion of finance lease installments +/- new leasing contracts arranged +/- remeasurement and early close-out of leasing contracts – ⁽⁴⁾ “Investment in property, plant & equipment” less “Proceeds from the sales of property, plant & equipment + Investment in other intangible assets”
1Q2026
- KEY HIGHLIGHTS
- 1Q2026 FINANCIAL RESULTS
- OUTLOOK
1Q2026
SALES GUIDANCE CONFIRMED
- April sales evolution(1) in line with Group expectations and coherent with 1Q
- Closely monitor raw material and energy costs developments
- Price pass-through actions implemented selectively
-
Ongoing monitoring US tariff developments
-
2026 outlook
- Sales: organic sales variation between +3% and -2%
- Around 2% of 2025 acquisitions impact (2)
- EBITDA margin: maintained between 22% and 22.5% through diversification and flexibility
- Cash generation: expected to consolidate 2025 record achievement
- Continuing normalisation of TWC and CAPEX
(1) Management estimates - (2) Calculated on 2025 turnover
1Q2026
- KEY HIGHLIGHTS
- 1Q2026 FINANCIAL RESULTS
- OUTLOOK
- ANNEX
ANNEX
DISCLAIMER
F
ANNEX
DISCLAIMER - PERFORMANCE INDICATORS
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:
- 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;
- 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.
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.
13
ANNEX
DISCLAIMER - FORWARD LOOKING STATEMENTS
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 forward-looking 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 forward-looking 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.
14
15
ANNEX
- DISCLAIMER
- 1Q2026 DETAILS
16
ANNEX
SALES DETAILS - ORGANIC EVOLUTION - GROUP
GROUP 2020-2026 ORGANIC GROWTH
EVOLUTION by QUARTER
2020: -12.6% - 2021: +20.1% - 2022: +13.7% - 2023: +6.9% - 2024: -9.0% - 2025: -0.7% - 2026YTD: +2.2%
F
ANNEX
SALES DETAILS - ORGANIC EVOLUTION - DIVISIONS
HYDRAULICS 2020-2026 ORGANIC GROWTH
EVOLUTION by QUARTER
2020: -13.6% - 2021: +22.8% - 2022: +15.9% - 2023: +5.9% - 2024: -14.0% - 2025: -4.1%; 2026YTD: +6.9%
F
ANNEX
SALES DETAILS - ORGANIC EVOLUTION - DIVISIONS
WATER-JETTING 2020-2026 ORGANIC GROWTH EVOLUTION by QUARTER
2020: -10.8% - 2021: +14.4% - 2022: +8.5% - 2023: +9.5% - 2024: +4.6% - 2025: +8.2%; 2026YTD: -6.9%
19
ANNEX
- DISCLAIMER
- 1Q2026 DETAILS
- 2025 DETAILS
1
ANNEX
SALES DETAILS - SALES BREAKDOWN - GROUP
GROUP
2025 sales: € 2.071m
Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%
Adaptors industrial vehicles: professional activity of adapting or modifying industrial vehicles to suit specific applications or industry requirements (e.g. installation of specialized components on industrial vehicles, such as cranes, platforms or tailor of vehicles to meet the operational needs of sectors such as logistics, agriculture, or construction - Generic dealers: professional activity of retail or wholesale distribution of a broad range of goods, typically without exclusive affiliation to a specific brand or manufacturer - Generic contractors: professional activity of managing and coordinating all aspects of a construction project, including hiring subcontractors, sourcing materials, and ensuring compliance with regulations
图
ANNEX
SALES DETAILS - SALES BREAKDOWN - HYDRAULICS
HYDRAULICS
2025 sales: € 1.355m
Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%
Adaptors industrial vehicles: professional activity of adapting or modifying industrial vehicles to suit specific applications or industry requirements (e.g. installation of specialized components on industrial vehicles, such as cranes, platforms or tailor of vehicles to meet the operational needs of sectors such as logistics, agriculture, or construction - Generic dealers: professional activity of retail or wholesale distribution of a broad range of goods, typically without exclusive affiliation to a specific brand or manufacturer - Generic contractors: professional activity of managing and coordinating all aspects of a construction project, including hiring subcontractors, sourcing materials, and ensuring compliance with regulations
JETTING
ANNEX
SALES DETAILS – SALES BREAKDOWN – WATER JETTING
WATER JETTING
2025 sales: € 716m
Market application breakdown: incidence below 0.5% not indicated, incidence between 0.5-1% rounded to 1%
Adaptors industrial vehicles: professional activity of adapting or modifying industrial vehicles to suit specific applications or industry requirements (e.g. installation of specialized components on industrial vehicles, such as cranes, platforms or tailor of vehicles to meet the operational needs of sectors such as logistics, agriculture, or construction - Generic dealers: professional activity of retail or wholesale distribution of a broad range of goods, typically without exclusive affiliation to a specific brand or manufacturer - Generic contractors: professional activity of managing and coordinating all aspects of a construction project, including hiring subcontractors, sourcing materials, and ensuring compliance with regulations
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, 15th May 2026
Mauro Barani
