B&C Speakers (BEC) investor relations material

Executive summary

• Revenues for Q1 2026 were €24.8 million, down 3.8% year-over-year, reflecting cautious customer order planning and challenging market conditions.

• Net profit for the quarter was €3.5 million, a decrease of 8.4% compared to Q1 2025, with profitability impacted by higher cost of sales and subdued international demand, especially in Asia.

• EBITDA reached €5.1 million (20.6% margin), and EBIT was €4.5 million (18.2% margin), both lower than Q1 2025.

• Net financial position improved to a positive €1.4 million from a negative €0.2 million at year-end 2025, driven by €2.7 million in operating cash flow.

• The Group continued its share buyback plan, holding 84,157 treasury shares (0.77% of share capital) as of March 31, 2026.

Financial highlights

• EBITDA was €5.1 million, down 18.8% year-over-year; EBITDA margin declined to 20.6% from 24.4%.

• EBIT was €4.5 million, down 18.9% year-over-year; EBIT margin was 18.2% versus 21.6% in Q1 2025.

• Cost of sales increased to 62.9% of revenues (from 59.1%), mainly due to international trade policies and US import tariffs.

• Basic and diluted EPS were €0.32, down from €0.34 in Q1 2025.

• Operating cash flow totaled €2.7 million in the quarter.

Outlook and guidance

• Market conditions remain affected by geopolitical and trade tensions, leading to reduced short-term demand visibility and cautious customer order planning.

• Industry normalization is expected in the second half of 2026, with temporary demand softness anticipated in the middle part of the year.

• The Group is focusing on production planning, capacity management, and workforce organization to maintain efficiency.