Valsoia — Earnings Release 2025

May 12, 2025

THE BOARD OF DIRECTORS APPROVES THE ADDITIONAL PERIODIC INFORMATION REFERRED TO THE 1ST QUARTER OF 2025

TOTAL SALES REVENUES AT 24.2 MILLION EUROS(-0.5 Million Euros) A SLIGHT DELAY CAUSED BY EASTER POSTPONED BY ONE MONTH

SOLID FINANCIAL STRUCTURE WITH A NET FINANCIAL POSITION (CASH POSITIVE) OF 24.1 MILLION EURO

FIFTH SUSTAINABILITY REPORT PUBLISHED

DELEGATION OF POWERS TO START THE PROGRAMME TO PURCHASE TREASURY SHARES

Bologna, 12 May 2025 - On today's date, the Board of Directors of Valsoia S.p.A. (EXM: VLS) met and it approved the additional periodic information as of March 31, 2025.

Chairman Lorenzo Sassoli de Bianchi commented: "In this first quarter, the Company's revenues are slightly behind the same period of the previous year. The cause is mainly attributable to Easter being postponed by one month compared to 2024, which negatively affected also foreign sales. The general context of the Consumer-Packaged Goods markets shows a still "flat" trend for volumes in the quarter. However, we are satisfied with our positive performance in consumption for some of our main lines, such as beverages, ice creams and hazelnut creams, plant-based alternatives of Valsoia Bontà e Salute, together with the further strong growth of Diete.Tic and piadina Loriana.

We have planned since the first quarter, and similarly foreseen for the coming months, investments in communication and consumer marketing activities, to support our Brands and their solid equity.

Il controllo dei costi di acquisto e delle marginalità della Società restano anche per questo anno una priorità. Controlling the Company's purchasing costs and margins remains a priority for this year as well. In fact, since the end of 2024, we have seen a further increase in the costs of some raw materials, including cocoa and vegetable fats, both widely used in the preparation of some of our most important products. Just as we await the fruit harvests, which are important for Santa Rosa jams.

In general, we do not exclude a second price increase in the year, if necessary to protect the Company's margins.

The expansion of the Serravalle Sesia plant is proceeding in line with the planned times and budgets.

We have also finalized the fifth sustainability report, still in voluntary form, offering a broad disclosure of our Company's commitments in relation to sustainability issues that are relevant to us, including the growth and training of our young talents, our most valuable capital".

Economic Indicators	31.03.2025	31.03.2024	Change
(Thousands of Euros)	Euro	Euro	Euro	%
Total sales revenues	24,184	24,723	-539	-2.2%

In the first quarter of 2025, the Company recorded Sales Revenues of 24.18 million Euros compared to 24.72 million Euros in the same period of 2024. The slight decrease, equal to -0.54 million Euros (-2.2%), is mainly attributable to a drop in sales volumes in the month of March due to the scheduling of Easter postponed by approximately one month compared to the 2024 financial year.

In the first three months of 2025, sales revenues in Italy were substantially in line with the same period of the previous financial year (-0.17 million Euros; -0.7%). Abroad, sales recorded a slight decrease (-0.37 million Euros) due to the delay in the start of ice cream sales.

As regards the volumes sold in the first quarter, the good performance of beverages, ice creams, creams and hazelnut spreads, the plant-based lines of Valsoia Bontà e Salute and of all the traditional food brands (Santa Rosa, Diete.Tic, Loriana and Weetabix cereals) is highlighted.

In the quarter, the Company also invested more in communication, also preparing the marketing and innovation actions, foreseen in the plans for the central part of the year. The construction of the new Serravalle Sesia plant also continued, in line with the times and budgets.

The Company is committed to managing the costs of products and services, having to deal in particular with a further increase in the costs of some raw materials. Of note at the moment is the growth of cocoa and vegetable fats present in some important lines of the Company's portfolio, including ice cream, hazelnut spread and alternative plant-based desserts.

The Net Financial Position (NFP), as of March 31, 2025, is positive for 24.1 million Euros. Net of the effect of the application of IFRS 16 as of March 31, 2025, the same NFP is equal to 25.7 million Euros.

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MAIN EVENTS AFTER THE END OF THE 1ST QUARTER 2025

The month of April showed a recovery in the Company's overall orderS for both domestic and foreign sales despite the long "long weekends" linked to national holidays which potentially directed consumption towards the "out of home" channel rather than the "household" channel.

Investments in communication also continued and, following the Shareholders' Meeting held on 28 April, the fifth voluntary sustainability report for the 2024 financial year was published.

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STOCK OPTION PLAN 2022-2025

The Board of Directors, having acknowledged the results achieved by the Company in the 2024 financial year as approved by the Shareholders' Meeting of 28 April 2025, has recognized the beneficiaries of the 2022- 2025 Stock Option Plan, with reference to the objectives of the third year of the Plan, the accrual of a total of 50,000 option rights exercisable according to the methods and timeframes set out in the Plan itself.

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DELEGATION OF POWERS TO START THE PROGRAMME TO PURCHASE TREASURY SHARES

The Board of Directors, following the authorization approved by the Shareholders' Meeting of 28 April 2025, authorized the Chairman and/or the Chief Executive Officer, severally, to execute the purchase of Company's shares, even in multiple tranches, for a maximum of 200,000 shares and up to a maximum amount of Euro 2,500,000.00, under the terms and conditions approved by the Shareholders' Meeting.

The manager responsible for preparing the company's accounting documents, Mr. Nicola Mastacchi, declares pursuant to paragraph 2 of article 154 bis of the Consolidated Law on Finance that the accounting information contained in this press release corresponds to the documentary evidence, books and accounting records.

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Valsoia S.p.A. (www.valsoiaspa.com) founded in 1990, was a "pioneer" in the development of the Italian market of alternative vegetable products. Today it is a reference company in the health food market in Italy and has expanded its product portfolio to include traditional food brands. The Valsoia brand "Bontà e Salute" represents, for the consumer, innovation and attention to health through good, natural and healthy products. Since July 14, 2006, Valsoia S,p,A, has been listed on the Euronext Milan market organized and managed by Borsa Italiana S.p.A.

For further information
Valsoia S.p.A.
Nicola Mastacchi	Tel. +39 051 6086800
CDR Communication
Silvia Di Rosa – Investor Relations	Cell +39 335 78 64209
Eleonora Nicolini – Investor Relations	Cell +39 333 9773749
Martina Zuccherini – Media Relations	Cell +39 339 43 45708