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Technoprobe Report Publication Announcement 2026
4484_rns_2026-03-18_3d7a219b-7939-46ec-9808-89122442fa4c.pdf
Report Publication Announcement
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| Informazione Regolamentata n. 20250-10-2026 | Data/Ora Inizio Diffusione 18 Marzo 2026 19:55:25 | Euronext Milan |
|---|---|---|
Societa': TECHNOPROBE
Utenza - referente : TECHNOPROBEN04 - Di Terlizzi
Tipologia : 1.1
Data/Ora Ricezione : 18 Marzo 2026 19:55:25
Data/Ora Inizio Diffusione : 18 Marzo 2026 19:55:25
Oggetto : Annulla e sostituisce invio precedente: The Board of Directors approves the Draft Statutory and the Consolidated Annual Report as at December 31, 2025
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
PRESS RELEASE
The Board of Directors approves the Draft Statutory and the Consolidated Annual Report as at December 31, 2025
- Consolidated Revenues of €628.4 million, up 15.7%
- Consolidated EBITDA of €201.4 million, up 47.5% with a margin of 32.1%
- Consolidated Net Profit of €98.8 million, up 57.4%
- Positive consolidated Net Financial Position at €684.2 million (€656.3 million as at 31.12.2024)
- Revenue target (€850–€900 million) and EBITDA margin (38%–40%) confirmed to be expected in 2027, one year ahead of the medium-term projections presented at the Capital Market Day on April 14, 2025
- An agreement in principle has been reached with a local partner to strengthen Technoprobe’s presence in China through the development of TPEG technology via its investee company, DIS Semiconductor Technology (Shanghai) Co., Ltd.
Cernusco Lombardone (LC), March 18, 2026 – The Board of Directors of Technoprobe S.p.A., a company listed on Euronext Milan and leader in the design and production of probe cards (the "Company" or "Technoprobe") met today to examine and approve the Draft Statutory and the Consolidated Annual Report as at December 31, 2025.
Stefano Felici, CEO of Technoprobe, said: "The market driven by artificial intelligence continues to represent a structural growth driver for Technoprobe: approximately 38% of our revenues are now attributable to AI-related applications. In this context, we confirm strong growth in testing volumes, supported by the increasing complexity of advanced semiconductors and the evolution of computing architectures.
To support this dynamic, in addition to maintaining a strong focus on production efficiency initiatives, we plan to expand our manufacturing capacity through investments in Italy and other strategic geographies both in the current year and in 2027, with the aim to double it by the end of the two-year period."
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
Key consolidated financial results for the year ended December 31, 2025
| € thousand | 2025 | 2024 | Change |
|---|---|---|---|
| Revenues | 628,380 | 543,153 | 15.7% |
| Gross Profit | 279,087 | 223,439 | 24.9% |
| Margin % | 44.4% | 41.1% | |
| Ebitda* | 201,438 | 136,524 | 47.5% |
| Margin % | 32.1% | 25.1% | |
| Net Profit | 98,845 | 62,792 | 57.4% |
*EBITDA is a non-IFRS alternative performance indicator monitored by management to evaluate underlying business performance. EBITDA used by the Group is defined as net profit adjusted for: (i) income tax expenses, (ii) foreign exchange gains (losses), (iii) finance income (iv) finance expenses (v) other income (expenses), net, (vi) net impairment losses/reversals on financial assets and (vii) depreciation, amortization and impairment included in: selling, general and administrative, research and development and cost of revenue.
| € thousand | 31.12.2025 | 31.12.2024 | Change |
|---|---|---|---|
| Total Shareholders' Equity | 1,242,020 | 1,237,177 | 0.4% |
| Net Financial Position** | 684,217 | 656,316 | 4.3% |
**Net Financial Position determined in accordance with the provisions of CONSOB communication DEM/6064293 of July 28, 2006, as subsequently amended and in compliance with the ESMA 32-382-1138 Recommendation of March 4, 2021.
Consolidated revenues for the year ended 31 December 2025 amounted to €628.4 million, up 15.7% compared to the previous year. The sustained growth in volumes within the artificial intelligence segment and Technoprobe's ability to maintain its leading position have been the main drivers behind this significant result. Additionally, the stabilization of the consumer segment and the full contribution of Dis Tech, in 2025 (acquisition has been finalized on May 27, 2024) have further contributed to this outcome. The positive impact of these segments more than offsets softness in the automotive and industrial segment which suffered, mainly in the first part of the year, from the inventory correction.
Consolidated EBITDA for the year ended 31 December 2025 amounted to €201.4 million, with a margin of 32.1% increasing respectively by 47.5% and 700 bps compared to the same period of 2024. The operating leverage driven by efficiency recovery and the reorganization of activities in the United States more than offset the dilutive effect resulting from the DIS Tech operations being included for the full year 2025, compared to the same period of 2024 when they were included starting from May 27, 2024.
Consolidated net profit for the year ended 31 December 2025 amounted to €98.8 million, up 57.4% compared to 2024 following the effects previously mentioned and income taxes of €29.3 million for the year ended December 31, 2025 (€34.2 million for the year ended December 31, 2024).
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
As at 31 December 2025, the consolidated net financial position was positive for €684.2 million: the liquidity generated by operating activities, amounting to €212 million and from the sale of Santa Clara (California) building amounting to €26 million, was offset by investments incurred in the period equal to €99 million, by the acquisition of a minority stake in Yee Wei Inc. amounting to approximately €20 million and Innostar Service Inc. amounting to approximately €7 million. In addition, the foreign exchange effect on liquidity and buy-back plan concluded on December 19, 2025, had a negative impact of €22 million and €60 million respectively.
Consolidated Sustainability Report 2025
Today, the Board of Directors also reviewed and approved the Consolidated Sustainability Report included in the Directors' Report on Operation 2025 in compliance with the provisions of Legislative Decree 125/2024.
Outlook
Over the next two years, leading semiconductor companies will operate in a highly competitive environment characterized by accelerated innovation, rising demand in key sectors—most notably Artificial Intelligence and the Internet of Things—and persistent geopolitical tensions that continue to evolve rapidly.
In this context, management will need to respond with operational flexibility and strategic vision, including the ability to pursue timely strategic repositioning. This will require targeted investments in R&D to accelerate the development of advanced technological solutions and preserve the competitive advantage achieved to date, while adopting agile operating models capable of responding quickly to shifts in demand and supply chain dynamics. These capabilities also encompass greater integration, verticalization, and production reshoring, alongside a growing focus on technological sovereignty to reduce dependence on external and difficult-to-control factors.
Momentum in the semiconductor testing industry remains unprecedented, driven by the combination of higher production volumes and increasing test intensity and complexity. Indicators across the entire supply chain remain positive: leading foundries and semiconductor capital equipment manufacturers are reporting structural investment programs and order levels exceeding expectations, in line with the accelerated demand expressed by fabless companies. In this environment, the testing niche benefits disproportionately, as the increasing complexity of chips and Al workloads drives a higher testing content per unit produced.
From a market segmentation perspective, AI architectures remain the primary growth driver for the entire industry, both in logic and memory. This trend confirms the increasing share of volumes generated throughout 2025, particularly in the datacenter segment. Following 2025—largely characterized by the large-scale build-out of datacenter infrastructure—2026 is expected to represent a year of “selection,” during which the market will more carefully assess the financial sustainability of investments and begin to evaluate the first signals of monetization.
In parallel, the Advanced Packaging segment is expected to accelerate over the 2026–2027 period, supported by the growing demand for ultra-high-density AI chips and advanced automotive applications. Superior thermal
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
and electrical performance, as well as the required physical proximity between logic and memory components, cannot be achieved through traditional packaging technologies.
Partially offsetting these dynamics, the Consumer segment—particularly PCs and smartphones—is expected to experience only modest growth. A more significant contribution is likely to emerge once AI capabilities become more fully integrated into PCs and smartphones, increasing their value proposition and stimulating new technological and generational replacement cycles.
Meanwhile, the Automotive and Industrial segments, although still affected by the tail end of inventory corrections and demand contraction linked to uncertainty arising from trade and tariff tensions, are expected to move toward normalization during 2026 and are already showing early signs of recovery in the first part of the year.
In addition, two structural challenges are likely to remain significant: intense competition for highly specialized talent—particularly in engineering, AI, and advanced materials—requiring strong retention policies and continuous training programs; and the strengthening of ESG and transparency practices as a key lever to reinforce reputation and credibility with global customers and institutions.
In addressing these challenges, the Group confirms its strategy of predominantly internal technological development, aimed at maintaining control over both know-how and the supply chain. Increased automation, a lean organizational structure focused on rapid decision-making, and the development and ramp-up of new manufacturing facilities in Italy and Taiwan during 2026 will support the achievement of an optimal balance between resilience, innovation, and sustainability.
Over the 2026–2027 period, the Group is preparing to double its production capacity through an ambitious investment and hiring plan. Success will depend on the ability to adapt rapidly to evolving global dynamics while maintaining a strong focus on technology, people, and ethical governance.
In light of the current market environment and planned capacity expansion initiatives, the Group confirms the acceleration of its medium-term targets for 2027: Revenues of €850–€900 million and an EBITDA margin of 38%–40%, as originally presented at the Capital Market Day on April 14, 2025.
Allocation of the profit of the year
The Board of Directors decided to propose to the Shareholders' Meeting, to allocate the entire 2025 profit of Technoprobe S.p.A. amounting to Euro 49,494,497.51 to the specific equity reserve “Retained earnings”. The decision to not distribute dividends is aimed at supporting the company's growth strategy.
Q1 2026 Guidance
The Company expects the following in the first quarter of 2026:
Consolidated revenues: €182 million (+/-3%)
Gross margin: 46.5% (+200bps)
Ebitda margin: 35.4% (+200bps)
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
The manager responsible for preparing the company's financial reports, Mr. Stefano Beretta, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that, on the basis of his knowledge, the accounting information contained in this press release corresponds to the document results, books and accounting records.
An agreement in principle has been reached with a local partner for a USD 35 million investment in Technoprobe's wholly owned subsidiary, 'Device Interface Solutions Technology (Shanghai) Co. Ltd,' as part of the Group's plan to strengthen its presence in China through the development of TPEG technology
An agreement in principle has been reached with a local partner for an investment of USD 35 million in Technoprobe's wholly owned subsidiary, Device Interface Solutions Technology (Shanghai) Co., Ltd. ("DIS China"), within the framework of the Group's plan to strengthen its presence in China through the development of TPEG technology.
Technoprobe has entered into an agreement in principle with a local partner concerning the investment of USD 35 million in its wholly owned subsidiary, Device Interface Solutions Technology (Shanghai) Co., Ltd. ("DIS China").
It is envisaged that the agreement, which has been reached in its essential terms, will be formalized by the end of March through the execution of the relevant definitive agreements.
The transaction forms part of the Group's broader strategy to enhance its presence in China through the development of TPEG technology, with the additional objective of strengthening the protection of the Technoprobe Group's know-how and intellectual property in the Chinese market and expanding its customer base.
According to the principal terms agreed, the investment is expected to be implemented through the subscription of a reserved capital increase to be resolved by DIS China, following which the new partner would hold an equity interest of approximately 30% in DIS China.
The agreement also provides for the incorporation by DIS China of an operational subsidiary in the Suzhou region, which will be entrusted with the manufacturing and commercialization of TPEG-based products.
The execution of the reserved capital increase will, in any event, be subject to the obtaining of authorization from the competent Italian authority under Golden Power regulations, as well as the completion of the required approval process before the relevant Chinese authorities (including the State Administration of Foreign Exchange and the State Administration for Market Regulation), and to certain other customary conditions precedent.
Following the execution of the definitive agreements, and pending the receipt of the necessary approvals for completion of the transaction, the parties will agree on the terms of a shareholders' agreement governing, inter alia: (i) the governance of DIS China, including the granting to the partner of limited veto rights for investment protection purposes, and (ii) the transfer regime applicable to the shareholdings in DIS China and the related restrictions, including a lock-up obligation on the partner.
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
OTHER RESOLUTIONS OF THE BOARD OF DIRECTORS
Proposal of Restricted Shares Plan 2026-2029
The Board of Directors resolved to submit to the Shareholders' Meeting the approval of an incentive plan called "Restricted Shares Plan 2026-2029", in accordance with art. 114-bis, paragraph 1, of the TUF, in favour of the subjects identified by the Board of Directors of Technoprobe, among the Executive Directors, the Managers with Strategic Responsibilities, as well as other employees with strategic roles of the Company or subsidiaries.
The characteristics of the Plan are set out in a specific Information Document that will be made available on the Company's website within the terms of law.
Special Award Plan
The Board of Directors has resolved to submit to the Ordinary Shareholders' Meeting, pursuant to Article 114-bis, paragraph 1, of the Consolidated Financial Act (TUF), the approval of an incentive plan named the "Special Award Plan," addressed to individuals identified by the Board of Directors of Technoprobe from among executive directors, key management personnel, and certain other selected employees holding strategic roles within the Company.
The features of the Plan are set out in a specific Information Document, which will be made available on the Company's website within the time limits prescribed by law.
Proposal to the Shareholder Meeting to authorize buyback and sale of treasury shares
Considering that the authorisation granted by the Shareholders' Meeting on July 10, 2025, still in force but economically exhausted, and therefore no longer in force, the Board of Directors has resolved to submit to the Shareholders' Meeting a new request for authorisation, pursuant to articles 2357 and 2357-ter of the Civil Code and 132 of the TUF, to the purchase, in one or more times, within 18 months from the date of the resolution, of treasury shares Technoprobe S.p.A., up to a maximum number that is not more than 2% (two per cent) of the Company's share capital at the date of the purchase - for a maximum total amount of Euro 250.000.000, within the limits of distributable profits and available reserves resulting from the last budget approved at the time of the execution of each operation, and in compliance with the provisions of article 2357, paragraph 3, of the Civil Code.
The proposed authorisation is generally required to provide the Company with a strategic flexibility tool to use, for one or more of the following purposes:
(i) to support the liquidity of the Company's securities, as well as regularize the trend of trading and prices, also in accordance with the relative market practice accepted by Consob;
(ii) operating for a medium and long-term investment perspective;
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
(iii) constitute a so called "securities stock", to sell, dispose and/or use shares, in the context of extraordinary corporate/financial transactions; and
(iv) fulfilling obligations arising from any stock options plans, stock grants, performance shares and in general share-based incentive plans; on the understanding that, in the absence of the reasons that led to the purchase, the treasury shares acquired pursuant to this authorization may be assigned to one of the other purposes indicated above and/or sold.
As of today, the Company holds no. 12,941,522 own shares equal to about 2% of the share capital.
Report on corporate governance and ownership structures and Report on remuneration policy and remuneration paid
The Board of Directors also approved, to the extent of its competence, the Report on Corporate Governance and Ownership Structure for the year 2025 drawn up by the Company pursuant to art. 123-bis of the TUF, as well as the Report on remuneration policy and remuneration paid in accordance with art. 123-ter of the TUF, art. 84-quater and Annex 3A, Schedule 7-bis of the Issuers Regulation and art. 5 of the Corporate Governance Code.
Convocation of the Shareholders' Meeting
Finally, the Board of Directors resolved to convene the Ordinary and Extraordinary Shareholders' Meeting for 23 April 2026 in a single call, at 3:00 pm. The Shareholders' Meeting will be called to decide on the approval of the financial statements at 31 December 2025 and on the proposals on the above-mentioned points.
The notice of convocation of the Assembly, as well as all documents that will be submitted to the same, will be made available to the public, within the terms and with the modalities of law and Statute, at the registered office of the Company in Via Cavalieri di Vittorio Veneto n. 2, 23870 Cernusco Lombardone (LC), on the website of Technoprobe www.technoprobe.com in the section "Governance/Shareholders' Meetings" and at the authorized storage mechanism "emarket Storage" (www.emarketstorage.it).
This press release and the presentation slides will be made available on the Technoprobe website, in the Investor Relations section and on the authorized storage mechanism "eMarket Storage" (www.emarketstorage.it).
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Via Cavalieri di Vittorio Veneto, 2
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Contacts
Technoprobe S.p.A.
Investor Relator
Ines Di Terlizzi
Email: [email protected]
Technoprobe S.p.A.
Communication & Marketing Manager
Paolo Cavallotti
Email: [email protected]
Technoprobe Group
Technoprobe is a leading semiconductor and microelectronics company. Established in 1996, Technoprobe specializes in the design and manufacture of electro-mechanical interfaces called Probe Cards for chip function testing. Probe Cards are high-tech devices – tailored to the specific chip – that allow you to test the operation of chips during their construction process. These are projects and technological solutions that guarantee the operation and reliability of devices that play a decisive role in the Information Technology, 5G, Internet of Things, home automation, automotive, and aerospace industries. Technoprobe has its headquarters in Italy, in Cernusco Lombardone (LC). Since May 2, 2023, Technoprobe has been listed on the Euronext Milan market. For more information: www.technoprobe.com
Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to risks, uncertainties and other factors that could cause actual results to differ, or materially, from those anticipated in actual results. These risks and uncertainties include, but are not limited to, the ability to manage the effects of the current uncertain international economic situation, the ability to predict future economic conditions and changes in customer preferences, the ability to successfully introduce and market new products, the ability to maintain an efficient distribution system, the ability to achieve and manage growth, the ability to negotiate and maintain favorable licensing agreements, currency fluctuations, changes in local conditions, the ability to protect intellectual property, information systems problems, inventory risks, credit and insurance risks, changes in tax regimes, as well as other political, economic, legal and technological factors and other risks and uncertainties already highlighted in the filings carried out at the National Commission for Companies and the Stock Exchange. These forward-looking statements have been issued as of today and we undertake no obligation to update them.
Alternative performance indicators
In addition to the financial measures provided for by the International Financial Reporting Standards (IFRS), this document presents some financial indicators derived from the latter, although not governed by them, in line with the provisions of Consob Communication no. 92543/15 of 3 December 2015, which made applicable the guidelines on Alternative Performance Indicators published on 5 October 2015 by the European securities and markets (ESMA/2015/1415). These indicators are presented in order to allow a better assessment of the performance of the Group's economic operations and financial position and should not be considered a substitute for the conventional indicators provided for by IAS/IFRS as their method of determination is not regulated by the standards themselves. Since the determination of these indicators is not regulated by the accounting standards of reference, the calculation methods applied by the Group may not be consistent with those adopted by other companies or Groups and, therefore, these indicators may not be comparable. Consequently, investors should not place undue reliance on these indicators.
In particular, the Alternative Performance Indicators presented are as follows:
- represents an alternative performance indicator not defined by IFRS but used by the Group's management to monitor and evaluate the Group's operating performance. The Group defines EBITDA as the adjusted net income of the following items in the income statement: (i) Income taxes, (ii) Foreign exchange gains (losses), (iii) Financial income (iv), Financial expenses (v), Other income and income (expenses) (vi), Net revaluations/impairments of financial assets and (vii) Depreciation, amortization and impairment losses included in the following income statement items: Cost of Goods Sold, Research and Development Expenses and Administrative, Sales and Distribution Expenses.
- Net Financial Position determined in accordance with the provisions of CONSOB communication DEM/6064293 of 28 July 2006 as subsequently amended and in accordance with ESMA guidelines 32-382-1138 of 4 March 2021.
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CONSOLIDATED INCOME STATEMENT
| (in Euro thousand) | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Revenue | 628,380 | 543,153 |
| Cost of revenue | (349,293) | (319,714) |
| Gross profit | 279,087 | 223,439 |
| Operating expenses | ||
| Research and development | (54,355) | (63,374) |
| Selling, general and administrative | (88,396) | (92,878) |
| Net impairment losses/reversals on financial assets | (50) | (77) |
| Total operating expenses | (142,801) | (156,329) |
| Operating profit | 136,286 | 67,110 |
| Other income/(expenses), net | 19,743 | 2,452 |
| Share of profit (loss) of investments accounted for using the equity method | 604 | - |
| Finance income / (expenses) | 18,280 | 17,109 |
| Finance expenses | (872) | (1,606) |
| Foreign exchange gains (losses) | (45,941) | 11,937 |
| Profit before tax | 128,100 | 97,002 |
| Income tax expense | (29,255) | (34,210) |
| Net profit | 98,845 | 62,792 |
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CONSOLIDATED BALANCE SHEET
| (In Euro thousand) | 31/12/2025 | 31/12/2024 |
|---|---|---|
| ASSETS | ||
| Non-current assets | ||
| Property, plant and equipment | 307,955 | 295,147 |
| Intangible assets | 61,435 | 65,541 |
| Goodwill | 42,500 | 43,714 |
| Equity-accounted investments | 6,794 | |
| Deferred tax assets | 24,464 | 21,995 |
| Non-current financial assets | 1,357 | 1,083 |
| Other non-current assets | 762 | 1,418 |
| Total non-current assets | 445,267 | 428,898 |
| Current assets | ||
| Inventories | 125,295 | 136,759 |
| Trade receivables | 119,923 | 118,803 |
| Current financial assets | 10,830 | 8,740 |
| Current tax receivables | 7,744 | 17,632 |
| Other current assets | 22,371 | 31,099 |
| Cash and cash equivalents | 688,202 | 666,377 |
| Total current assets | 974,365 | 979,410 |
| Total Assets | 1.419,632 | 1.408,308 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Share capital | 6,533 | 6,533 |
| Reserves | 1.133,145 | 1.167,188 |
| Net profit attributable to the owners of the Parent | 97,662 | 63,832 |
| Equity attributable to the owners of the Parent | 1.237,340 | 1.237,553 |
| Equity attributable to non-controlling interests | 4,680 | (376) |
| Total equity | 1.242,020 | 1.237,177 |
| Non-current liabilities | ||
| Non-current lease liabilities | 10,321 | 13,843 |
| Deferred tax liabilities | 11,878 | 13,643 |
| Employee benefits obligations | 407 | 425 |
| Provision for risks and charges | 20,144 | 21,610 |
| Other non-current liabilities | 167 | 20 |
| Total non-current liabilities | 42,917 | 49,541 |
| Current liabilities | ||
| Trade payables | 66,824 | 56,904 |
| Current financial liabilities | - | 585 |
| Current lease liabilities | 4,283 | 4,955 |
| Current tax payables | 7,876 | 5,353 |
| Other current liabilities | 55,712 | 53,793 |
| Total current liabilities | 134,695 | 121,590 |
| Total liabilities | 177,612 | 171,131 |
| Total equity and liabilities | 1.419,632 | 1.408,308 |
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Technoprobe S.p.A.
Via Cavalieri di Vittorio Veneto, 2
23870, Cernusco Lombardone (LC) - Italy
www.technoprobe.com
CONSOLIDATED CASH FLOW
| (In Euro thousand) | 31/12/2025 | 31/12/2024 |
|---|---|---|
| Profit before tax | 128,100 | 97,002 |
| Adjustments for: | - | - |
| Amortization, depreciation and impairment | 65,103 | 69,337 |
| (Gains) losses on disposals | (17,438) | 32 |
| Net Finance (income) expenses | (17,408) | (15,503) |
| Provisions to funds | 14,782 | 10,225 |
| Share of profit (loss) of companies accounted for using the equity method | (604) | - |
| Other non-cash adjustments | 25,262 | (11,656) |
| Cash flow generated by operating activities before changes in net working capital | 197,797 | 149,437 |
| Change in inventories | 2,083 | 873 |
| Change in trade receivables | (3,209) | (44,590) |
| Change in trade payables | 10,085 | 22,714 |
| Changes in other assets/ liabilities | 10,116 | 8,351 |
| Uses of provisions for risks and charges and employee benefits obligations | (4,743) | (4,557) |
| Income taxes paid | (13,101) | (7,814) |
| Net cash flow generated by operating activities | 199,028 | 124,414 |
| Payments for property, plant and equipment (excluding right of use | (92,612) | (84,514) |
| Payments for intangible assets | (6,770) | (9,419) |
| Proceeds from sale of property, plant and equipment | 30,393 | 479 |
| Net divestitures/(investments) in financial assets | (12,981) | (1,321) |
| Payment for acquisition, net of cash acquired | - | (81,626) |
| Finance income received | 18,313 | 7,639 |
| Dividends received from equity-accounted companies | 145 | - |
| Net cash flow used in investing activities | (63,512) | (168,762) |
| Proceeds from borrowings | - | 3 |
| Financial liabilities reimbursement | (585) | - |
| Repayment of lease liabilities | (5,094) | (3,303) |
| Finance expenses paid | (871) | (1,606) |
| Capital increase | - | 384,744 |
| Acquisition of treasury shares | (60,000) | (34,669) |
| Acquisition of minorities | (20,420) | - |
| Dividend paid | - | (1,203) |
| Net cash flow generated by (used in) financing activities | (86,970) | 343,966 |
| Total cash flow generated (used) during the period | 48,546 | 299,618 |
| Cash and cash equivalents at the beginning of the period | 666,377 | 361,800 |
| Total changes in cash and cash equivalents | 48,546 | 299,618 |
| Exchange differences from translation of cash and cash equivalents | (26,721) | 4,959 |
| Cash and cash equivalents at the end of the period | 688,202 | 666,377 |
| Fine Comunicato n.20250-10-2026 | Numero di Pagine: 13 |
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