BasicNet (BAN) investor relations material

Executive summary

• Consolidated revenues rose 25.4% year-over-year to €216.4 million in H1 2026, driven by direct sales growth, e-commerce expansion (+111%), and the integration of Woolrich and Sundek brands.

• Direct sales increased 37.4% to €188.7 million, while royalties and sourcing commissions declined 21.3% to €27.2 million.

• Aggregate sales by third-party licensees grew 15.4% to €453.1 million, with Europe as the leading market.

• EBITDA was €9.1 million, down from €15.1 million in H1 2025, reflecting integration and restructuring costs.

• The group reported a net loss of €11.1 million (vs. €0.8 million profit in H1 2025), mainly due to non-recurring charges and higher amortisation/depreciation.

Financial highlights

• Brand aggregate sales reached €594.3 million, up 4.8% year-over-year.

• Contribution margin on direct sales increased 55.4% to €95.2 million, with margin rising to 50.5%.

• Personnel costs rose to €50.9 million, reflecting integration of new brands and restructuring provisions.

• Net financial position with banks was €-146.2 million, reflecting acquisition-related debt and seasonal working capital needs.

• Dividends of €7.6 million were distributed, and €6.4 million of treasury shares were acquired.

Outlook and guidance

• Management expects profitability to improve as integration costs subside and synergies from Woolrich and Sundek are realized.

• Right-sizing actions at Woolrich and Sundek are expected to yield full run-rate effects from Q3 2026.

• Continued expansion and rationalization of the direct retail network, with strong e-commerce performance.

• The Group maintains a prudent approach amid ongoing macroeconomic and geopolitical uncertainty.