Orsero

Earnings Release • Feb 3, 2025

Informazione Regolamentata n. 20078-3-2025	Data/Ora Inizio Diffusione 3 Febbraio 2025 18:17:33		Euronext Star Milan
Societa'	:	ORSERO
Identificativo Informazione Regolamentata	:	201044
Utenza - Referente	:	ORSERON04 - Colombini Matteo
Tipologia	:	REGEM
Data/Ora Ricezione	:	3 Febbraio 2025 18:17:33
Data/Ora Inizio Diffusione	:	3 Febbraio 2025 18:17:33
Oggetto	:	PR Guidance FY 2025 (ENG)
Testo del comunicato

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Press Release

GUIDANCE 2025

IN 2025 IT IS EXPECTED THE CONSOLIDATION OF THE ACHIEVED ECONOMIC AND FINANCIAL PERFORMANCES AND THE DEVELOPMENT OF VALUE-ADDED PRODUCT LINES THAT ARE NOW THE CORE BUSINESS OF THE GROUP

REVENUES ARE EXPECTED TO GROW, WITH RESILIENT AND ABOVE MARKET AVERAGE PROFITABILITY

THE NFP IS EXPECTED TO DECREASE THANKS TO THE STRONG CASH GENERATION OF THE BUSINESS MODEL

THE GROUP WILL CONTINUE TO PURSUE A GROWTH STRATEGY WHICH INCLUDES ORGANIC DEVELOPMENT AND M&A DEALS, AIMED AT CREATING VALUE AND IMPROVING BUSINESS PROFITABILITY

• DISTRIBUTION BU: GROWING REVENUES THANKS TO AN EXPECTED INCREASE IN SELLING VOLUMES. PROFITABILITY IS EXCELLENT, ALTHOUGH AGAINST THE IMPACT OF HIGHER EXPECTED PURCHASE COSTS, AN EFFECT OF THE SUDDEN STRENGTHENING OF THE USD, AND THEREFORE NOT FULLY RECOVERABLE IN THE SELLING PRICES OF CERTAIN PRODUCT LINES
• SHIPPING BU: PROFITABILITY EXPECTED TO SLIGHTLY IMPROVE THANKS TO HIGHER TRANSPORTED VOLUMES
• PLANNED INVESTMENTS FOR 2025 INCLUDE THE DRY DOCKING OF TWO SHIPS, TO COMPLETE THE CYCLE STARTED LAST YEAR, AND THE CONTINUED INVESTMENTS IN BU DISTRIBUTION'S MAIN OPERATING FACILITIES

Milan, 3 February 2025 – The Board of Directors of Orsero S.p.A., on the basis of the approved budget projections for the financial year 2025, communicates - in line with its practice of dialogue with shareholders and stakeholders - the Guidance on the main economic and financial indicators expected for FY 2025.

Financial Guidance FY 20251:

• Net Sales between € 1,580 and € 1,640 million;
• Adjusted Ebitda² between € 77 million and € 82 million;
• Adjusted Net profit3 between € 26 million and € 30 million;
• Net Financial Position4 between € 110 million and € 105 million5;
• Investments in operating fixed assets between € 15 million and € 17 million⁶ (including investments related to the multi-year sustainability plan).

As for last years, the Board of Directors also decided to disclose to the market the annual ESG targets, reflecting the great attention and commitment that the Group is placing on the implementation of the recently approved 2022 - 2030 Sustainability Plan (for more details please refer to the press release of 2 February 2022 and the Orsero website www.orserogroup.it, 'Sustainability/Sustainability Plan' section).

ESG Guidance FY 2024:

• energy consumption index per refrigerated cubic meter decreasing to 79.55 Kwh/m3;
• % of market stands involved in activities fighting food waste increasing to 100% of the total;
• % of employees involved in sustainability training increasing to 100% of the total;
• % of warehouses certified for food safety increasing to 100% of the total.

Raffaella Orsero, Vice-chair and CEO of Orsero, and Matteo Colombini, co-CEO and CFO, commented: "The last fiscal year has shown us that the new size of the Group is consistent with expectations in terms of dimension and profitability, and that the acquisitions made in recent years are delivering the desired results and developments. We expect 2025 to be a year of further consolidation of the investments made and of continued pursuit of new growth opportunities, in line with the Group's vision and strategy. The Distribution BU will continue to be the growth engine, focusing on product lines with the greatest development

***

¹ Constant scope of consolidation excluding possible M&A transactions.

² It does not include depreciation, provisions, income and charges of a non-recurring nature including any figurative costs of the long-term incentive plans.

³ It does not include income and expenses of a non-recurring nature and costs related to the rewarding of Top Management including the related estimated tax effect.

⁴ For the sole purpose of the 2025 Guidance, it has been assumed a dividend payout of € 8.4 million, which is an estimate subject to the Board of Directors' evaluation during the proposal to the Shareholders' Meeting for the approval of the 2024 Financial Statements. It does not include the execution of the buyback program.

⁵ Excluding the IFRS 16 effect, between € 50 and € 45 million.

⁶ Of which € 6.7 million for the periodic dry docking activity and for the upgrade of two out of the four property ships.

prospects, on the different sales channels, in which the Group's companies have been investing in recent years. Shipping is expected to confirm the good performance of 2024 and to continue to add value to the supply chain of transported products, especially in a market context that presents many challenges due to global geopolitical tensions impacting logistics chains.

The size achieved by the Company and the cash generation of the business model allow us to continue to grow and invest, while maintaining an appropriate level of shareholder remuneration without compromising the Group's financial strength and stability".

***

The management and the Company constantly monitor the main economic and equity indicators to be able to promptly react to any new scenarios that are currently not foreseeable, and which will be communicated to shareholders if they involve a significant deviation of the Group's results compared to the FY 2025 Guidance and, in any case, in accordance with applicable regulations.

** *** **

ORSERO is the holding company of the Italian and international group with the same name, a leader in Mediterranean Europe for the import and distribution of fresh fruit and vegetables. The Orsero Group was created more than 50 years ago at the initiative of the Orsero family, which had been operating since the 1940s in the fruit and vegetable sector, in partnership with other entrepreneurs. Over the decades, the Orsero Group has expanded its business both in terms of area covered, which today includes Italy, France, Spain, Portugal, Greece, Mexico, Costa Rica and Colombia, and in terms of product categories and sectors, according to a model known as vertical integration. Along with the distribution of fresh produce, the Orsero Group's business model also includes the import of bananas and pineapples using its owned ships. In 2012, the Orsero Group launched the brand "F.lli Orsero" for bananas and pineapples. The name intends to convey a sense of tradition and the passion of a large Italian family-run company for high-end produce. ORSERO ordinary shares are listed on the Euronext STAR Milan segment of the Market Euronext Milan: ISIN - IT0005138703; Bloomberg Ticker "ORS.IM"; Thomson Reuters Ticker "ORSO.MI".

For more information:

Orsero S.p.A.

Investor Relations:

Edoardo Dupanloup | T. +39 347 4496044 | investor.relations@orserogroup.it| www.orserogroup.it Rebecca Cancellieri |T. +39 349 4727548 | investor.relations@orserogroup.it| www.orserogroup.it

Media Relations:

CDR Communication Angelo Brunello | M. +39 329 211 7752 | angelo.brunello@cdr-communication.it Martina Zuccherini | martina.zuccherini@cdr-communication.it

Specialist

Intesa Sanpaolo S.p.A. – Divisione IMI Largo Mattioli 3 - 20121 – Milano

Numero di Pagine: 5