FY 2024Financial Results Presentation

IRCE Group –Contents

Company Profile

•Highlights •The Businesses •Production Plants

Financial Results

•Copper and Aluminium Price Trend •Profit and Loss Statement •BalanceSheet
•BusinessPerformance
•Market Performance

New Projects

Company Profile–Highlights

IRCE is a leading European Group operating in the industriesof magnet wires and cables

I R C E To da y	Uo m	F Y 2 0 2 4	F Y 2 0 2 3
f e Nu be loy F T E m r o m p ee s	Nr	6 8 1	6 7 1
T U R N O V E R	Eu M r	3 9 7. 7	4 0 2. 8
E B I T D A E B I T D A A d j *	Eu M r Eu M r	2 0. 9 2 1. 4	2 1. 4 2 1. 5
E B I T E B I T A d j *	Eu M r Eu M r	1 4. 5 1 5. 0	1 4. 4 1 4. 5
R E S U L T f t he io d o p er	Eu M r	6. 9	8. 2

(*) Including gains/losses on copper and energy derivatives transactions if realized

History

1947IRCE began its activity in Imola (Italy) with the production of magnet wires
1961The company started the production of PVC insulated low voltage cables
1996The Group was listed on the Italian Stock Exchange
1998Acquisition of Smit Draad Nijmegen BV (The Netherlands)
2001Acquisition of FD Sims Ltd (UK)
2001The Group was listed on the Star Market Segment
2007Construction of Brazil Plant
2007Acquisition of Stable Magnet Wire P. Ltd (India)
2010Acquisition of ISODRA GmbH (Germany)
2015New sales office in Poland
2018Established the Company in China
2021Established the Company in Czech Republic
2022June 30, sold the branch of the company for the production of power cables located in Miradolo Terme Italy
2023Start the construction of plant in Czech Republic
2024Start the construction of plant in China

Company Profile–The Businesses

IRCE Group works in two business areas:

•Magnet wires 80% of sales
•Energy cables 20% of sales

Company Profile– The Businesses

Magnet Wires

Magnet wires, also known as winding wires or enamelled wires, have multiple applications such as electric motors, generators, transformers, compressors, inductors, relays, solenoid valves, etc. The wire is insulated through the application of many layers of enamels by means of highly sophisticated processes and machines, which demand high levels of investments and large scale of productions.

Energy Cables

Cables produced by the Group encompass the complete range of Low Voltage and Medium Voltage for building and industrial sector. Cables can be insulated with PVC, rubber, polyethylene, etc.. They are used for the construction of electricity plants in residential and industrial buildings and for the wiring and cabling of electrical appliances. The principal final industry sectors are the construction industry, housing and industrial applications, and consumer durables industries (domestic appliances and other electrical appliances).

Company Profile – The Businesses >Magnet Wires

>Market share

In the Magnet Wire business IRCE manufactures and sales the complete range of products, and is mainly engaged in the segments of the fine and medium wires. It mainly operates in Europe, where it is one of the top three producers by size.

Company Profile–Production Plants

1. Im la P la t o n	2. G l io i P la t u g ne s n	3. U b t i d P la t 4. T he Ne t m e r e n	he la d P la t r n s n
5. U i t d K in d P la t n e g o m n	6. Br i l P la t az n	S 7. t b le M t W ire P. L t d. G 8. a a g ne e rm a	P la t ny n
1. I R C E Sp A He dq ter a ua r s –	Co d A lum in ium Ro d Ma t W ire p p er an un g ne	Co d Ar 4 6, 0 0 0 Sq ve re ea : m	I S O 9 0 0 1
Im la I ly ta o –	d L V En Ca b les an erg y	Em loy 2 3 1 p ee s:	I A T F 1 6 9 4 9
			S O I 1 4 0 0 1
2. I R C E Sp A	L V / M V En Ca b les	Co d Ar 2 4, 0 0 0 Sq ve re ea : m	I S O 9 0 0 1
Gu l ion i - I ta ly g es	erg y	Em loy 8 4 p ee s:
3. I R C E Sp A	Co d A lum in ium Ro d Ma t W ire	Co d Ar 1 9, 4 0 0 Sq ve re ea : m	I S O 9 0 0 1
Um be t i de I ta ly r -	p p er an un g ne	Em loy 4 2 p ee s:
4. Sm i Dr d N i j B V t aa me g en	Co Re lar Ma W ire tan t p p er c g u g ne	Co d Ar 9, 8 0 0 Sq ve re ea : m	I S O 9 0 0 1
N i j T he Ne t he lan ds me g en r –	Co t inu ly Tra d Ca b le ( C T C ) n ou s ns p os e	Em loy 7 7 p ee s:
5. F D S im L t d s		Co d Ar 7, 0 0 0 Sq ve re ea : m	I S O 9 0 0 1
	Co d A lum in ium Ro d a d Re tan er an un n c u	Em loy 3 2 p ee s: lar Ma W ire t ne	I A T F 1 6 9 4 9
B lac k bu U K rn –	p p g	g	I S O 1 4 0 0 1
			S O I 4 5 0 0 1
6. I R C E L da t	Co d A lum in ium Ro d a d Re tan p p er an un n c g u	lar Ma W ire Co d Ar 2 1, 5 0 0 Sq t g ne ve re ea : m	I S O 9 0 0 1
Jo inv i l le Br i l az -	Co t inu ly Tra d Ca b le ( C T C ) n ou s ns p os e	Em loy 1 2 6 p ee s:	I A T F 1 6 9 4 9
7. S ta b le Ma t W ire P. L t d. g ne	Co Ro d Ma t W ire er un ne	Em 2 7 ee s:	I S O 9 0 0 1
Co h in In d ia c –	p p g	loy p
8. I S O D R A Gm b H	Co Ro d Ma t W ire	Em 1 2	S O I 9 0 0 1
K ier Ge sp e - rm an y	p p er un g ne	loy p ee s:

FY 2024 Financial Results Presentation - Euronext STAR Conference 2025 - Milan, 27 March 2025

IRCE Group –Copper and Aluminiumprice trend

FinancialResults–ProfitandLossStatement

Eu i l l io ro m n	F Y 2 0 2 4	% T urn	F Y 2 0 2 3	% T urn	ha % c ng e	F Y 2 0 2 2	F Y 2 0 2 1
Ho l low tur ire no ve r w s	6 8. 0		1. 0 7		2 % -4.	2. 2 7	6 8 7.
Ho l low tur b les no ve r c a	2 8. 2		2 8. 2		0. 0 %	2 4. 5	2 4. 6
To ta l ho l lo tu w rn ov er	9 6. 2		9 9. 2		-3. 0 %	9 6. 7	9 2. 4
T U R N O V E R ( inc lu de d ) co p p er	3 9 7. 7	10 0 .0 %	4 0 2. 8	10 0 .0 %	-1. 3 %	4 4. 5 7	4 1 5 7.
O t he inc r om e	1. 8	0.5 %	1. 8	0.4 %	0.0 %	4. 9	0. 6
T O T A L R E V E N U E S	3 9 9. 5	10 0 .5%	4 0 4. 6	10 0 .4 %	-1. 3 %	4 9. 6 5	4 5 7. 7
Co f m t o ter ia l inc lu d ing ha in toc k s a c ng e s	( ) 3 0 4. 1	-76 .5%	( ) 3 1 4. 6	-78 .1%	-3.3 %	( ) 3 6 1. 9	( ) 3 6 6. 2
Pe l c ts rso nn e os	( 3 5. 8 )	% -9.0	( 3 0. 5 )	% -7.6	% 17.4	( 3 0. 0 )	( 3 0. 5 )
O he d s ice t ts r c os an erv s	( 3 8. ) 7	-9.7 %	( 3 8. 1 )	-9.5 %	1.6%	( 4 8. 3 )	( 3 8 ) 7.
E B I T D A	2 0. 9	5.3 %	2 1. 4	5.3 %	-2. 3 %	1 9. 4	2 3. 2
De ia ion d p is ion t p rec s a n rov s	( 6. 4 )	-1.6 %	( 0 ) 7.	-1.7 %	-8.6 %	( 8 ) 7.	( 8. 8 )
E B I T	1 4. 5	3 .6 %	1 4. 4	3 .6 %	% 0. 7	1 1. 6	1 4. 4
Co d e de iva ive t p p er an ne rg y r s	0. 5	0.1%	0. 1	% 0.0	% -40 0.0	0. 5	( 0. 2 )
f Ne t ina ia l c ha nc rg es	( 2. 1 )	-0.5 %	( 2. 0 )	-0.5 %	5.0 %	( 1. 8 )	0. 0
R E S U L T B E F O R E T A X E S ( E B T )	1 2. 9	% 3 .2	1 2. 5	.1% 3	3. 2 %	1 0. 3	1 4. 2
Ta xe s	( 6. 0 )	-1.5 %	( 4. 3 )	-1.1 %	39 .5%	( 1. 1 )	( 4. 8 )
S R E U L T tro l l in in te ts no n- co n g re s	6. 9	1.7 %	8. 2	2 .0 %	% -1 5. 9	9. 2	9. 4
M ino i ies t r	0. 0	0.0 %	0. 0	0.0 %	0%	0. 0	0. 0
S O O R E U L T F T H E P E R I D	6. 9	1.7 %	8. 2	2 .0 %	% -1 5. 9	9. 2	9. 4

E B I T D A	2 0. 9	0. 1	2 1. 4	5.3 %	-2 3 %	1 9. 4	2 3. 2
Co d e de iva ive t p p er an ne rg y r s	0. 5	0.1%	0. 1	0.0 %		0. 5	( 0. 2 )
( *) E B I T D A A d j te d us	2 1. 4	5.4 %	2 1. 5	5.3 %	% -0 5	1 9. 9	2 3. 0
De ia ion d p is ion t p rec an rov s	( 6. 4 )	-1.6 %	( 7. 0 )	-1.7 %	25. 7%	( 7. 8 )	( 8. 8 )
E B I T A d j te d ( *) us	1 5. 0	3 .8 %	1 4. 5	3 .6 %	3. 4 %	1 2. 1	1 4. 2

(*) For a better comparison of the operating results, we have introduced the concepts of EBITDA and EBIT Adjusted, that are equal to the traditional definitions plus income or loss on copper and energy derivatives if realized.

FY 2022 and FY 2021 includes M iradolo italian plant, sold on June 30, 2022

ROCE (EBIT Adj. / Net Capital Employed)%

7.9% 6.0% 7.9%

Financial Results–Balance sheet

Eu i l l io ro m n	3 1 De be 2 0 2 4 ce m r	%	3 1 De be 2 0 2 3 ce m r	%	3 1 De be 2 0 2 2 ce m r	%	3 1 De be 2 0 2 1 ce m r	%
Ne t w k ing i ta l or ca p	1 2 2. 4	62. 1%	1 2 8. 4	71.7 %	1 5 2. 3	74. 4%	1 6 6. 5	84. 8%
F ixe d As ts se	8 6. 5	43. 9%	5 9. 3	33. 1%	5 1. 7	25. 2%	4 4. 4	22. 6%
O t he ts d l ia b i l i t ies r a ss e an	-1 1. 8	-6.0 %	-8 7	-4.9 %	0. 8	0.4 %	-1 4. 6	-7.4 %
N E T C A P I T A L E M P L O Y E D	1 9 7. 1	10 0 .0 %	1 7 9. 0	10 0 .0 %	2 0 4. 8	10 0 .0 %	1 9 6. 3	10 0 .0 %
S ha ho l de ' Eq i ty re rs u	1 5 0. 6	4% 76.	1 5 3. 3	6% 85.	1 4 4. 8	7% 70.	1 3 2. 0	2% 67.
Ne F ina ia l Po i ion t t nc s	4 6. 5	6% 23.	2 5. 7	% 14.4	6 0. 0	3% 29.	6 4. 3	8% 32.
F I N A N C I N G A N D E Q U I T Y	1 9 7. 1	10 0 .0 %	1 7 9. 0	10 0 .0 %	2 0 4. 8	10 0 .0 %	1 9 6. 3	10 0 .0 %