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IRCE Investor Presentation 2026
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1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRC
RCE
SMART SOLUTIONS IN WINDING WIRE
1°Q 2026 Financial Results Presentation
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRC
IRCE Group – Contents
Company Profile
- Highlights
- The Businesses
- Production Plants
Financial Results
- Copper and Aluminium Price Trend
- Profit and Loss Statement
- Balance Sheet
- Business Performance
- Market Performance
Ongoing Projects
- IRCE s.r.o – Czech Republic
- IRCE Electromagnetic Wire Co. Ltd. – China
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irc.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Company Profile – Highlights
IRCE is a leading European Group operating in the industries of magnet wires and cables
| IRCE Consolidated Figures | Uom | 1°Q 2026 | 1°Q 2025 | FY 2025 |
|---|---|---|---|---|
| Number of employees FTE | Nr | 620 | 675 | 620 |
| TURNOVER | Eur M | 105.8 | 102.7 | 377.6 |
| EBITDA | Eur M | 9.5 | 5.3 | 17.9 |
| EBITDA Adj* | Eur M | 10.2 | 5.8 | 18.8 |
| EBIT | Eur M | 6.8 | 3.5 | 10.8 |
| EBIT Adj* | Eur M | 7.4 | 4.0 | 11.7 |
| RESULT of the period | Eur M | 3.8 | 2.0 | 6.2 |
(*) Including gains/losses on copper and energy derivatives transactions if realized
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRC
Company Profile – The Businesses
1°Q 2026 consolidated revenue allocation
Magnet Wire
Used in applications such as electric motors and generators, transformers, compressors, inductors, and relays.
They are primarily used in the conversion of electrical energy into mechanical energy and vice versa, as well as in the adjustment of energy parameters. The main markets are automotive, white goods, electromechanical equipment, and electronics.
Energy Cables for Energy Transportation
Used in the installation of electrical systems in residential and industrial buildings, as well as for powering and wiring electrical equipment. The cables produced include a complete range of low- and medium-voltage cables. The cables can be insulated with PVC, rubber, or polyethylene. The main markets are industrial sector, distribution of electrical materials and railway sector.
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irc.it
1^{st}[] 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Company Profile – Production Plants
Foreign Subsidiary
- IRCE Ltda - Joinville – Brasil
- ISODRA GmbH - Kierspe – Germany
- FD Sims Ltd - Blackburn – United Kingdoms (UK)
- IRCE S.R.O. Cechia - Ostrava – Czech Republic
- Stable Magnet Wire P. Ltd. - Cochin – India
- IRCE Electromagnetic Wire Co. Ltd. - Hai’an – China
☐ Commercial societies → Italy, Spain, Germany, Swisserland
IRCE S.p.A. – Italy
- Imola (BO) – Headquarters and Productive Plant
- Umbertide (PG) – Productive Plant
- Guglionesi (CB) – Productive Plant
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
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2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRE
Company Profile – Production Plants
IRCE S.p.A. - Italy
- IRCE SpA – Headquarters Imola – Italy
- Umbertide
- Gugilonesi
- Brazil
- Germany
- U.K.
- Czech
- India
- China
Copper and Aluminium Round Magnet Wire and LV Energy Cables
Covered Area: 46,000 Sqm Employees: 226
ISO 9001 IATF 16949 / ISO 14001
- IRCE SpA Umbertide - Italy
Copper and Aluminium Round Magnet Wire
Covered Area: 19,400 Sqm Employees: 41
ISO 9001
- IRCE SpA Gugilonesi - Italy
LV/MV Energy Cables
Covered Area: 24,000 Sqm Employees: 84
ISO 9001
- IRCE Ltda Joinville - Brazil
Copper and Aluminium Round and Rectangular Magnet Wire Continuously Transposed Cable (CTC)
Covered Area: 21,500 Sqm Employees: 133
ISO 9001 IATF 16949
- ISODRA GmbH Kierspe - Germany
Copper Round Magnet Wire
Employees: 14
ISO 9001
- FD Sims Ltd Blackburn – UK
Copper and Aluminium Round and Rectangular Magnet Wire
Covered Area: 7,000 Sqm Employees: 27
ISO 9001 / IATF 16949 ISO 14001 / ISO 45001
- IRCE S.R.O. Cechia Ostrava - Czech Republic
Copper and Aluminium Round and Rectangular Magnet Wire
Covered Area: 20,000 Sqm Employees: 28
ISO 9001 IATF 16949 Compliance Letter
- Stable Magnet Wire P. Ltd. Cochin – India
Copper Round Magnet Wire
Employees: 28
ISO 9001
- IRCE Electromagnetic Wire Co. Ltd. - Hai'an (Jiangsu) – China
Copper Round and Rectangular Magnet Wire
Production Area: 15,000 Sqm
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1^{st}[] 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Financial Results – Copper and Aluminium price trend
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IFCE
Financial Results – Profit and Loss Statement
| Euro million | 1°Q 2026 | % Turn. | 1°Q 2025 | % Turn. | change % | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Hollow turnover wires | 15.7 | 76.7% | 17.0 | 72.8% | -7.2% | 63.0 | 68.0 | 71.0 | 72.2 |
| Hollow turnover cables | 4.8 | 23.3% | 6.3 | 27.2% | -24.6% | 23.1 | 28.2 | 28.2 | 24.5 |
| Total hollow turnover | 20.5 | 100.0% | 23.3 | 100.0% | -12.0% | 86.1 | 96.2 | 99.2 | 96.7 |
| TURNOVER (copper included) | 105.8 | 100.0% | 102.7 | 100.0% | 3.0% | 377.6 | 397.7 | 402.8 | 454.7 |
| Other income | 0.4 | 0.4% | 0.7 | 0.6% | -34.1% | 3.5 | 1.8 | 1.8 | 4.9 |
| TOTAL REVENUES | 106.2 | 100.4% | 103.4 | 100.6% | 2.7% | 381.1 | 399.5 | 404.6 | 459.6 |
| Cost of material including change in stock | (93.1) | -88.0% | (86.9) | -84.6% | 7.2% | (293.5) | (304.1) | (314.6) | (361.9) |
| Personnel costs | (7.4) | -7.0% | (8.6) | -8.4% | -14.2% | (30.5) | (35.8) | (30.5) | (30.0) |
| Other costs and services | 3.8 | 3.6% | (2.6) | -2.6% | -244.2% | (39.2) | (38.7) | (38.1) | (48.3) |
| EBITDA | 9.5 | 9.0% | 5.3 | 5.1% | 80.6% | 17.9 | 20.9 | 21.4 | 19.4 |
| Depreciations and provisions | (2.8) | -2.6% | (1.7) | -1.7% | 59.7% | (7.1) | (6.4) | (7.0) | (7.8) |
| EBIT | 6.8 | 6.4% | 3.5 | 3.5% | 90.9% | 10.8 | 14.5 | 14.4 | 11.6 |
| Copper and energy derivatives | 0.6 | 0.6% | 0.5 | 0.5% | -30.7% | 0.9 | 0.5 | 0.1 | 0.5 |
| Net financial charges | (1.3) | -1.2% | (0.9) | -0.9% | 44.4% | (1.4) | (2.1) | (2.0) | (1.8) |
| RESULT BEFORE TAXES (EBT) | 6.1 | 5.7% | 3.1 | 3.0% | 95.1% | 10.3 | 12.9 | 12.5 | 10.3 |
| Taxes | (2.3) | -2.2% | (1.1) | -1.1% | 105.0% | (4.1) | (6.0) | (4.3) | (1.1) |
| RESULT non-controlling interests | 3.8 | 3.6% | 2.0 | 2.0% | 89.7% | 6.2 | 6.9 | 8.2 | 9.2 |
| Minorities | 0.0 | 0.0% | 0.0 | 0.0% | 0% | 0.0 | 0.0 | 0.0 | 0.0 |
| RESULT OF THE PERIOD | 3.8 | 3.6% | 2.0 | 2.0% | 89.7% | 6.2 | 6.9 | 8.2 | 9.2 |
| EBITDA | 9.5 | 0.1 | 5.3 | 5.1% | 80.6% | 17.9 | 20.9 | 21.4 | 19.4 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Copper and energy derivatives | 0.6 | 0.6% | 0.5 | 0.5% | 0.9 | 0.5 | 0.1 | 0.5 | |
| EBITDA Adjusted (*) | 10.1 | 9.0% | 5.7 | 5.6% | 78.5% | 18.8 | 21.4 | 21.5 | 19.9 |
| Depreciation and provisions | (2.8) | -2.6% | (1.7) | -1.7% | 59.7% | (7.1) | (6.4) | (7.0) | (7.8) |
| EBIT Adjusted (*) | 7.4 | 7.0% | 4.0 | 3.9% | 83.8% | 11.7 | 15.0 | 14.5 | 12.1 |
(*) 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.
ROCE (EBIT Adj. / Net Capital Employed)%
5.6% 7.9% 7.6% 6.0%
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
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Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Financial Results – Balance sheet
| Euro million | 31 March 2026 | % | 31 December 2025 | % | 31 December 2024 | % | 31 December 2023 | % | 31 December 2022 | % |
|---|---|---|---|---|---|---|---|---|---|---|
| Net working capital | 159.2 | 63.2% | 130.0 | 58.1% | 122.4 | 62.1% | 128.4 | 71.7% | 152.3 | 74.4% |
| Fixed Assets | 100.9 | 40.1% | 100.0 | 44.7% | 86.5 | 43.9% | 59.3 | 33.1% | 51.7 | 25.2% |
| Other assets and liabilities | -8.1 | -3.2% | -6.4 | -2.9% | -11.8 | -6.0% | -8.7 | -4.9% | 0.8 | 0.4% |
| NET 'CAPITAL EMPLOYED' | 252.0 | 100.0% | 223.6 | 100.0% | 197.1 | 100.0% | 179.0 | 100.0% | 204.8 | 100.0% |
| Shareholders' Equity | 162.7 | 64.6% | 156.0 | 69.8% | 150.6 | 76.4% | 153.3 | 85.6% | 144.8 | 70.7% |
| Net Financial Position | 89.3 | 35.4% | 67.6 | 30.2% | 46.5 | 23.6% | 25.7 | 14.4% | 60.0 | 29.3% |
| FINANCING AND EQUITY | 252.0 | 100.0% | 223.6 | 100.0% | 197.1 | 100.0% | 179.0 | 100.0% | 204.8 | 100.0% |
| CAPEX | 2.7 | 19.6 | 35.0 | 14.2 | 13.6 | |||||
| --- | --- | --- | --- | --- | --- |
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Financial Results – Business Performance
TURNOVER and HOLLOW TURNOVER
EBITDA Adjusted and EBIT Adjusted
NET CAPITAL EMPLOYED and NET FINANCIAL POSITION
NET WORKING CAPITAL
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
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Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
RCE
Financial Results – Market Performance
MARKET PRICE TREND IRCE (Period: 15th May 2025 - 15th May 2026)
SHAREHOLDERS' EQUITY Vs MARKET CAPITALIZATION
PRICE/BOOK VALUE RATIO
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRC
Ongoing Projects
Plant in Ostrava (Czech Republic)
Plant in Hai'an - Jiangsu (China)
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irc.it
1°Q 2026 Financial Results Presentation – ISMO Milano, 28 May 2026
IRC
THANK YOU
SMART SOLUTIONS IN WINDING WIRE
Headquarters:
IRCE Spa, Via Lasie, 12/A - 40026 Imola BO – Italy
www.irce.it
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