Aquafil Group
[ECNL:IM] - [ECNLF: OTCQX]
1Q 2026
Financial Results
May 14, 2026
Key Messages
✓
✓
Significant operating cash generation
✓
✓
Financial Results
Revenues
EBITDA
Net Result
NFP
2025 | 2026 | Δ% |
144,0 | 133,8 | (7,1)% |
2025 | 2026 | Δ% |
17,1 | 19,8 | 15,8 % |
11,9 % | 14,8 % |
2025 | 2026 | Δ% |
0,4 | 1,2 | (185,2)% |
0,3 % | 0,9 % |
31.12.25 | 31.03.26 | Δ% |
209,5 | 209,5 | 0,0 % |
% on Revenues
Volumes
in line with expectations
Lower sales prices
due to
raw material cost trend
ECONYL® 59.1%
of Fiber Revenues
Higher vs 1Q 2025
Mainly thanks to
production efficiencies and
cost containment actions
Improved vs 1Q 2025
Mainly thanks to
EBITDA increase
and Lower D&A
Stable
vs Dec. 2025
NFP/EBITDA LTM
x2.79
on 31st March 2026
X2.89
on 31st December 2025
Volumes
+0,9%
compared to FY 2025
(on First Grade Products, excluding commission work)
Financial
Results
Volumes and Revenues Variation by Components
Revenues variation by components
Index 100
1Q 2025 | Volumes | Price, FX & Sales Mix | 1Q 2026 |
Financial Results | Quantity Variations %
(on First Grade Products, excluding commission work)
1Q26 vs 1Q25
EMEA
Volumes (1.2)% vs 1Q25:
BCF slower than 1Q25
NTF still soft but increasing order entry
Solid EP performance
USA
Volumes +11.1% vs 1Q25 :
Important increase in BCF market
Strong performance in NTF
Asia
Volumes (8.3)% vs 1Q25:
Softer market vs 1Q25
Financial Results | Revenues Breakdown
% by Product Line
1Q25 and 1Q26
Financial Results | Revenues Breakdown
% by Geographical Area
1Q25 and 1Q26
Financial
Results
ECONYL®
Revenues on fibers
59,1%
of 1Q26 fibers revenues from ECONYL® and other regenerated fibers
1Q25 and 1Q26
1Q | |||||
2025 | 2026 | Δ% | |||
Revenues | 144,0 | 133,8 | (7,1)% | ||
Financial Results | EBITDA % on net Sales | 17,1 11,9% | 19,8 14,8 % | 15,8 % | |
EBIT* | 2,9 | 6,0 | 110,3 % | ||
P&L | % on net Sales | 2,0 % | 4,5% | ||
KPI | EBT* | 1,0 | 1,3 | 20,0 % | |
% on net Sales | 0,7 % | 0,9 % | |||
NET RESULT* | 0,4 | 1,2 | 185,2 % | ||
% on net Sales | 0,3 % | 0,9 % | |||
* Include nonrecurring costs Data in € million | |||||
Financial Results | Net Financial Position
NFP - €/mln
NFP/EBITDA
NFP
209.5 €/mln on March 31, 2026
stable vs 209.5 €/mln on December 31, 2025
and improved vs 221.6 on March 31, 2025
Ratio NPF/EBITDA x2.79 on March 31, 2026
vs x2.89 on December 31, 2025
vs x3.45 on March 31, 2025
Financial Results | NFP evolution €/mln
Outlook
In line with the strategic goals outlined for the current financial year, the first quarter of 2026 opened with excellent signs, confirming the validity of the direction taken.
The first three months of the year show a positive operating performance, where the benefits deriving from the cost rationalization project are already clearly visible and measurable, translating into immediate support for margins.
The start of the fiscal year was favorable, despite prospects for the coming months suggesting an unstable market characterized by significant volatility. An upward trend in raw material prices and other costs is being observed; these dynamics are currently subject to rigorous monitoring and are under control thanks to the procurement and efficiency policies implemented.
Within this context, the solidity of the results is further strengthened by the Company's historical ability to transfer the increase in operating costs to selling prices, confirming the effectiveness of its pass-through policies even in the most challenging market phases.
The Group therefore remains focused on preserving operating profitability, navigating the current macroeconomic uncertainty with the resilience guaranteed by its distinctive positioning.
4. Annexes
13
Annex - Disclaimer
This presentation and any material distributed in connection herewith (together, the "Presentation") prepared by Aquafil S.p.A. ("Aquafil" or "Company") do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities, and neither this Presentation nor anything contained herein shall form the basis of, ore be relied upon in connection with, or act as an inducement to enter into, any contract or commitment whatsoever.
The Presentation contains forward-looking statements regarding future events and the future results of Aquafil that are based on current expectations, estimates, forecasts, and projections about the industries in which Aquafil operates and the belief and assumptions of the management of Aquafil. In particular, among other statements, certain statements with regards to management objectives, trends in results of operations, margins, costs, return on equity, risk management are forward-looking in nature. Words such as 'expects', 'anticipates', 'targets', 'goals', 'projects', 'intends', 'plans', 'believes', 'seeks', 'estimates', variations of such words, and similar expressions are intended to identify such forward-looking statements. These forward-looking statements are only predictions and are subject to risks, uncertainties, and assumptions that are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Therefore, Aquafil's actual result may differ materially and adversely from those expressed or implied in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, economic conditions globally, political, economic and regulatory developments in Italy and internationally. Any forward-looking statements made by or on behalf of Aquafil speak only as of the date they are made. Aquafil does not undertake to update forward-looking statements to reflect any changes in Aquafil's expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
No reliance may be placed for any purposes whatsoever on the information contained in the Presentation, or any other material discussed in the context of the presentation of such material, or on its completeness, accuracy or fairness. The information contained in the Presentation might not be independently verified and no representation or warranty, express or implied, is made or given or on behalf of the Company or any of its members, directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this document or any other material discussed in the context of the presentation of the Presentation. None of the Company, nor any of its respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of the Presentation or its contents or otherwise arising in connection therewith.
The reader should, however, consult any further disclosure Aquafil may make in documents it files with the Italian Securities and Exchange Commission
and with the Italian Stock Exchange.
Annex - Definitions«FIRST GRADE REVENUES» | "First grade revenues" are revenues generated by the sale of fibers and polymers, gross of any adjustments (for example, discounts and allowances), but excluding revenues generated by "non-first grade products", revenues generated by Aquafil Engineering GmbH and "other revenues". On the basis of the 2019 figures, these revenues accounted for more than 95% of the Group's consolidated revenues |
EBITDA | This is an alternative performance indicator not defined under IFRS but used by company management to monitor and assess the operating performance as not impacted by the effects of differing criteria in determining taxable income, the amount and types of capital employed, in addition to the amortisation and depreciation policies. This indicator is defined by the Aquafil Group as the net result for the year adjusted by the following components: income taxes, investment income and charges, amortisation, depreciation and write-downs of tangible and intangible assets, provisions and write-downs, financial income and charges, non-recurring items. |
NFP | On April 29, 2021, Consob issued "Warning Notice No. 5/21" (Richiamo di attenzione n. 5/21), stating that the new "ESMA Guidelines" of March 4, 2021 replaced, effective from May 5, 2021, the previous Consob communications on the matter. Guideline No. 39 requires that financial statement disclosure includes the following definition of net financial debt
|
Source: Tecnon OrbiChem, a ResourceWise company
16
Annex - Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT €/000 | First quarter 2025 | of wich non- current | First quarter 2026 | of wich non- current |
Revenues | 144.011 | 0 | 133.751 | 0 |
of which related parties | 6 | 5 | ||
Other Revenues | 2.869 | 16 | 1.805 | 0 |
of which related parties | 87 | 92 | ||
Total Revenues and Other Revenue | 146.880 | 16 | 135.555 | 0 |
Raw Materials | ( 64.603) | 0 | ( 57.952) | 0 |
of which related parties | ( 0) | ( 0) | ||
Services | ( 34.840) | ( 390) | ( 30.248) | ( 748) |
of which related parties | ( 170) | ( 141) | ||
Personnel | ( 31.785) | ( 141) | ( 30.084) | ( 1.000) |
of which related parties | 0 | 0 | ||
Other Operating Costs | ( 629) | ( 2) | ( 754) | ( 98) |
of which related parties | ( 17) | ( 17) | ||
Depreciation and Amortization | ( 12.912) | ( 11.302) | ||
Fixed asset write-offs | ( 107) | ( 2) | ||
Provisions & Write-downs | ( 12) | |||
Capitalization of Internal Construction Costs | 873 | 846 | ||
EBIT | 2.876 | ( 518) | 6.048 | ( 1.846) |
Income (loss) from Investments | ||||
of which related parties | ||||
Other Financial Income | 301 | 694 | ||
of which related parties | 1 | 1 | ||
Interest Expenses | ( 4.056) | ( 4.193) | ||
of which related parties | ( 68) | ( 19) | ||
FX Gains and Losses | 1.927 | ( 1.291) | ||
Profit Before Taxes | 1.048 | ( 518) | 1.258 | ( 1.846) |
Income Taxes | ( 621) | ( 40) | ||
Net Profit (Including Portion Attr. to Minority ) | 427 | ( 518) | 1.218 | ( 1.846) |
Net Profit Attributable to Minority Interest | ( 0) | 0 | ||
Net Profit Attributable to the Group | 427 | ( 518) | 1.218 | ( 1.846) |
Q1 | BCF (fiber for carpet) | NTF (fiber | for fabrics) | EP | (Engineering Plastics) | Other Polymers | TOTAL | |||||||||||||||
€/mln | 2025 | 2026 | Δ | Δ% | 2025 | 2026 | Δ | Δ% | 2025 | 2026 | Δ | Δ% | 2025 | 2026 | Δ | Δ% | 2025 | 2026 | Δ | Δ% | %25 | %26 |
EMEA | 45,9 | 42,9 | (3,0) | (6,5)% | 16,4 | 16,0 | (0,4) | (2,3)% | 9,8 | 9,9 | 0,2 | 1,6 % | 4,1 | 3,6 | (0,5) | (11,4)% | 76,2 | 72,5 | (3,7) | (4,8)% | 52,9% | 54,2% |
North America | 35,3 | 33,4 | (1,9) | (5,5)% | 6,1 | 6,2 | 0,1 | 1,6 % | 0,2 | 0,2 | (0,1) | (29,3)% | 1,5 | 1,3 | (0,2) | (14,6)% | 43,2 | 41,1 | (2,1) | (4,9)% | 30,0% | 30,7% |
Asia e Oceania | 22,9 | 18,6 | (4,3) | (18,8)% | 0,7 | 0,6 | (0,1) | (9,2)% | 0,2 | 0,3 | 0,0 | 5,5 % | 0,0 | 0,0 | (0,0) | N.A. | 23,9 | 19,5 | (4,4) | (18,3)% | 16,6% | 14,6% |
RoW | 0,3 | 0,4 | 0,0 | 13,0 % | 0,4 | 0,2 | (0,1) | (37,4)% | 0,0 | N.A. | 0,0 | N.A. | 0,7 | 0,6 | (0,1) | (12,6)% | 0,5% | 0,5% | ||||
TOTAL | 104,5 | 95,3 | (9,2) | (8,8)% | 23,6 | 23,1 | (0,5) | (2,0)% | 10,3 | 10,3 | 0,1 | 0,9 % | 5,6 | 4,9 | (0,7) | (12,3)% | 144,0 | 133,8 | (10,3) | (7,1)% | 100,0% | 100,0% |
% Tot 72,6% 71,3% | 16,4% 17,3% | 7,1% 7,7% | 3,9% 3,7% | 100,0% 100,0% | ||||||||||||||||||
3,9% | 3,7% | ||
7,1% | 7,7% | ||
16,4% | 17,3% |
16,6% | 14,6% | |
30,0% | 30,7% | |
52,9% | 54,2% | |
2025 | 2026 |
2025 2026
72,6%
71,3%
BCF (fiber for carpet) NTF (fiber for fabrics)EP (Engineering Plastics) Other Polymers
Annex - EBITDA and Adjusted Operating Results
RECONCILIATION FROM NET PROFIT TO EBITDA €/000 | First quarter 2025 | First quarter 2026 |
Net Profit (Including Portion Attr. to Minority) | 427 | 1.218 |
Income Taxes | 621 | 40 |
Investment income and charges | ||
Amortization & Depreciation | 12.912 | 11.303 |
Write-downs & Write-backs of intangible and tangible assets | 107 | 12 |
Financial items (*) | 2.520 | 5.399 |
Non-recurring items (**) | 518 | 1.846 |
EBITDA | 17.106 | 19.817 |
Revenues | 144.011 | 133.751 |
EBITDA Margin | 11,9% | 14,8% |
RECONCILIATION FROM EBITDA TO EBIT ADJUSTED €/000 | First quarter 2025 | First quarter 2026 |
EBITDA Amortization & Depreciation Write-downs & Write-backs of intangible and tangible assets | 17.106 ( 12.912) ( 107) | 19.817 ( 11.303) ( 12) |
EBIT Adjusted Revenues EBIT Adjusted Margin | 4.086 144.011 2,8% | 8.503 133.751 6,4% |
(*) The financial items include: (i) financial income of Euro 0.7 million (ii) financial charges and other bank charges of Euro (4.2) million, (iii) cash discounts of Euro (0.6) million, and
(iv) exchange gains/(loss) of Euro (1.3) million.
(**) This includes (i) non-recurring charges related to the expansion of the Aquafil Group for Euro (0.1) million, (ii) non-recurring extraordinary consultancy costs for Euro (0.2) million ; (iii) mobility and incentive charges of Euro (0.5) million; (iv) other non-recurring charges for Euro (0.1) million; (v) non-recurring charges for the current reorganization at Aquafil Carpet Collection and Aquafil Carpet Recycling #1 for Euro (0.9) million.
Annex - Consolidated Balance Sheet (1/2)CONSOLIDATED BALANCE SHEET | At December 31, | At March 31, |
€/000 | 2025 | 2026 |
Intangible Assets | 12.009 | 10.878 |
Goodwill | 14.237 | 14.530 |
Tangible Assets | 197.714 | 201.744 |
Financial Assets | 907 | 1.063 |
of which related parties | 222 | 277 |
Investments & Equity method | 1.113 | 1.113 |
Other Assets | 137 | 133 |
of which related parties | 0 | 0 |
Deferred Tax Assets | 30.511 | 31.209 |
Total Non-Current Assets | 256.628 | 260.669 |
Inventories | 172.754 | 171.432 |
Trade Receivables | 19.973 | 29.451 |
of which related parties | 147 | 178 |
Financial Current Assets | 2.262 | 5.390 |
of which related parties | 35 | 36 |
Current Tax Receivables | 940 | 1.008 |
Other Current Assets | 7.540 | 9.895 |
of which related parties | 325 | 325 |
Cash and Cash Equivalents | 165.548 | 153.266 |
Assets held for sale | 0 | 0 |
Total Current Assets | 369.017 | 370.442 |
Total Assets | 625.645 | 631.111 |
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Disclaimer
Aquafil S.p.A. published this content on May 14, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 14, 2026 at 16:15 UTC.
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