NOT FOR RELEASE, DISSEMINATION, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

   

Mumbai, India/Turin, Italy/Amsterdam, the Netherlands – 30 October 2026. With reference to the offer document published on 4 September 2026 (the “Offer Document”), the amendment notice published on 9 October 2026 and the notice published on 27 October 2026 (the “Notice on Final Results”) on the final results of the voluntary tender offer (the “Offer”) promoted by TML CV Holdings Pte. Ltd., through its wholly-owned company TML CV Holdings B.V. (the “Offeror”) for all issued common shares of Iveco Group (“Common Shares”) at a price of EUR 14.4 (cum dividend) per Common Share in cash, Tata Motors Limited (“Tata Motors”) (NSE: TMCV), a global automotive leader, and Iveco Group N.V. (“Iveco Group” or “Iveco”) (EXM: IVG), an international leader in commercial vehicles and mobility, jointly announce completion of settlement of the Common Shares tendered to the Offer during the Acceptance Period as per the Notice on Final Results. Terms not defined in this press release will have the meaning as set forth in the Offer Document.

Following completion on the date hereof of settlement following the Acceptance Period, the Offeror holds No. 238,157,212 Common Shares, equal to approximately 89.42% of Iveco Group’s common share capital, net of Treasury Shares. As a result, Iveco Group has become part of Tata Motors.

As announced in the Notice on Final Results, the Acceptance Period of the Offer will be reopened for five Trading Days starting from the Trading Day following the Payment Date, and, therefore, for the sessions on 2, 3, 4, 5 and 6 November 2026 (included), from 8:30 a.m. (CET) to 5:30 p.m. (CET) (the “Reopening of the Terms“). Settlement of the Common Shares tendered to the Offer during the Reopening of the Terms will take place on 13 November 2026. Further information regarding the post-offer steps to be taken in accordance with the Offer Document, including, as applicable, the Voluntary Purchase Procedure, the Dutch Legal Squeeze-Out or the Post-Offer Demerger and Liquidation, will be communicated by the Offeror in due course.

Iveco Group changes resulting from settlement of the Tender Offer following the Acceptance Period

  • New Board composition
  • New Board Committees compositions
  • Amended corporate governance documents in place
  • All Special Voting Shares repurchased
  • Q3 financials disclosure brought forward to 3 November 2026

As of today, Iveco Group’s Board is composed of the following members:

  • N. Chandrasekaran, Non-Executive Director, with the titles “Chairperson” and “Senior Non-Executive Director”;
  • Olof Persson, Executive Director, with the title “Chief Executive Officer”;
  • P. B. Balaji, Non-Executive Director, with the title “Non-Independent Director A”;
  • Girish Wagh, Non-Executive Director, with the title “Non-Independent Director A”;
  • Guenter Butschek, Non-Executive Director, with the title “Independent Director B”; and
  • Charles Nichols, Non-Executive Director, with the title “Independent Director B”.

In accordance with the amended corporate governance documents of Iveco Group, including Committee charters, available here (Regulations of the Board of Directors) and here (charters of the Board Committees), as of today the Board Committees are composed as follows:

  • Audit Committee: Mr. Nichols (acting as the Committee’s chair), Mr. Balaji and Mr. Butschek;
  • Compensation Committee: Mr. Butschek (acting as the Committee’s chair), Mr. Balaji and Mr. Nichols;
  • ESG Committee: Mr. Wagh (acting as the Committee’s chair) and Mr. Butschek.

Pursuant to the amended terms and conditions of Iveco Group’s Special Voting Shares available here and the authorisation granted by the Extraordinary General Meeting on 16 October 2026, as of today all Special Voting Shares outstanding immediately prior to settlement of the Offer have been repurchased for no consideration (om niet), resulting in no Special Voting Shares remaining outstanding.

Finally, the financial results of Iveco Group for the 3rd Quarter 2026 will be released on 3rd November 2026, instead of 5th November 2026, as previously communicated.

Contacts

Tata Motors Media Contacts

Tata Motors Corporate Communications: +91 22 6665 8282

E-Mail: cvcomms@tatamotors.com

Tata Motors Local Media Contacts

Comin & Partners

Tommaso Accomanno, Manager

Phone: + 39 340 7701750

E-Mail: tommaso.accomanno@cominandpartners.com

Giulia Giacobini, Consultant

Phone: + 39 392 0282937

E-Mail: giulia.giacobini@cominandpartners.com

Federico Fabretti, Partner

E-Mail: federico.fabretti@cominandpartners.com

Iveco Group Media Contacts

Francesco Polsinelli, Tel: +39 335 1776091

Fabio Lepore, Tel: +39 335 7469007

E-mail: mediarelations@ivecogroup.com

Tata Motors Investor Relations

Phone: +91-22-6665-8282

E-mail: investors@tatamotors.com; ir_tml@tatamotors.com

Iveco Group Investor Relations

Federico Donati, Tel: +39 011 0073539

E-mail: investor.relations@ivecogroup.com

About Tata Motors (Formerly TML Commercial Vehicles Ltd):

Part of the USD 180 billion Tata Group, Tata Motors Ltd., (BSE: Scrip code 544569; NSE: Scrip code TMCV) is India’s largest and a globally renowned manufacturer of utility vehicles, pick-ups, trucks, and buses. With over eight decades of leadership in commercial mobility, the company is known for its innovation, reliability, and performance. Its advanced powertrains, connected technologies, and intelligent fleet solutions support a wide range of applications—from last-mile delivery to public transport while seamlessly driving the wheels of the nation’s economy. Guided by its brand promise Better Always, Tata Motors delivers future-ready solutions that enhance customer experience and drive sustainable growth. The company operates in India and South Korea, with a global presence across Africa, the Middle East, Latin America, Southeast Asia, and SAARC countries.

As per the Composite Scheme of Arrangement sanctioned by the Hon’ble National Company Law Tribunal, Mumbai Bench—amongst Tata Motors Limited, TML Commercial Vehicles Limited (the Company) and Tata Motors Passenger Vehicles Limited—the Company’s name was changed to Tata Motors Limited from TML Commercial Vehicles Limited (effective 29 October 2025), and its equity shares are listed on the BSE Ltd and the National Stock Exchange of India Limited.

About Iveco Group

Iveco Group N.V. (EXM: IVG), a subsidiary of Tata Motors Ltd. and part of a leading global commercial mobility enterprise, is a major player in the automotive industry, built on a strong Italian heritage and with a consolidated international reach. The Group channels decades of engineering excellence and innovation into sustainable mobility and customer driven technologies. Its five brands play a leading role in their respective domains: IVECO, a pioneering commercial vehicles brand offering heavy, medium and light duty trucks; FPT, a global leader in advanced powertrain technologies in the agriculture, construction, marine, power generation and commercial vehicles sectors; IVECO BUS and HEULIEZ, renowned for their mass transit, premium bus and coach solutions; and IVECO CAPITAL, the Group’s financing arm supporting them all. Iveco Group employs 33,000 people and operates 16 industrial sites and 22 R&D centres. Further information is available at www.ivecogroup.com.

General restrictions
The offer referred to in this press release (the “Offer”) is promoted by TML CV Holdings Pte. Ltd. (“TML CV HS”), through TML CV Holdings B.V., a company wholly-owned by TML CV HS (the “Offeror”) on all issued and outstanding common shares (the “Common Shares”) of Iveco Group N.V. (“Iveco”). This press release does not constitute either a purchase offer or a solicitation to sell the Common Shares of Iveco.

The Offeror has published an offer document (the “Offer Document”), which Iveco’s shareholders must carefully review. The Offer is addressed, on equal conditions, to all the holders of the Common Shares and was launched in Italy and extended to the United States of America in compliance with Section 14(e) and Regulation 14E of the U.S. Securities Exchange Act of 1934 (the “U.S. Securities Exchange Act”), subject to the applicable exemptions set forth in Rule 14d-1(d) of the U.S. Securities Exchange Act. Except as indicated below, the Offer is subject to disclosure obligations and procedural requirements provided for by Italian law. US Iveco shareholders should be aware that such requirements may differ materially from those applicable under US domestic tender offer law and practice.

In accordance with the laws of, and practice in, Italy and to the extent permitted by applicable law, including Rule 14e-5 under the U.S. Exchange Act, the Offeror, the Offeror’s affiliates or any nominees or brokers of the foregoing (acting as agents, or in a similar capacity, for Iveco or any of its affiliates, as applicable) may from time to time, and other than pursuant to the Offer, directly or indirectly, purchase, or arrange to purchase, outside of the United States of America, Common Shares in Iveco or any securities that are convertible into, exchangeable for or exercisable for such Common Shares in Iveco before or during the period in which the Offer remains open for acceptance. These purchases may occur either in the open market at prevailing prices or in private transactions at negotiated prices. To the extent information about such purchases or arrangements to purchase is made public in Italy, such information will be disclosed by means of a press release or other means reasonably calculated to inform US shareholders of Iveco of such information. In addition, subject to the applicable laws of Italy and US securities laws, including Rule 14e-5 under the U.S. Exchange Act, the financial advisers to the Offeror or their respective affiliates may also engage in ordinary course trading activities in securities of Iveco, which may include purchases or arrangements to purchase such securities.

In order to comply with the rules and exemptions provided by US law, an Offer Document translated into English has been made available to the holders of the Common Shares resident in the United States of America. The English version of the Offer Document is merely a courtesy translation and the Italian version of the Offer Document was the only document submitted to Consob for its approval.

It may not be possible for US shareholders to effect service of process within the United States of America upon Iveco, the Offeror or any of their respective affiliates, or their respective officers or directors, some or all of which may reside outside the United States of America, or to enforce against any of them judgments of the United States of America courts predicated upon the civil liability provisions of the federal securities laws of the United States of America or other US law. It may not be possible to bring an action against Iveco, the Offeror and/or their respective officers or directors (as applicable) in a non-US court for violations of US laws. Further, it may not be possible to compel the Offeror or Iveco or their respective affiliates, as applicable, to subject themselves to the judgment of a US court. In addition, it may be difficult to enforce outside the United States of America original actions, or actions for the enforcement of judgments of US courts, based on the civil liability provisions of the US federal securities laws.

The Offer may have consequences under US federal income tax and under applicable U.S. state and local, as well as non-U.S., tax laws. Each shareholder of Iveco is urged to consult its independent professional adviser immediately regarding the tax consequences of the Offer.

NEITHER THE U.S. SECURITIES AND EXCHANGE COMMISSION NOR ANY SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY IN ANY STATE OF THE U.S. HAS APPROVED OR DECLINED TO APPROVE THE OFFER OR THIS ANNOUNCEMENT, PASSED UPON THE FAIRNESS OR MERITS OF THE OFFER OR PROVIDED AN OPINION AS TO THE ACCURACY OR COMPLETENESS OF THIS ANNOUNCEMENT OR ANY OFFER DOCUMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

The Offer has not been and will not be launched or promoted by the Offeror in Canada, Japan, Australia or in any other country other than Italy and the United States of America in which such Offer is not permitted in absence of the authorisation of the competent authorities or other obligations from the Offeror (such countries, including Canada, Japan and Australia, jointly, the “Other Countries”), nor by using instruments of communication or national or international commerce of the Other Countries (including but not limited to the postal network, fax, telex, email, telephone and internet), nor by way of any structure of any of the financial intermediaries of the Other Countries nor in any other way.

Copy of this press release, or portions of the same, as also copy of any subsequent document which will be issued in connection with the Offer, are not and must not be sent, nor in any way transmitted or distributed, directly or indirectly in the Other Countries. Any party who receives the abovementioned documents must not distribute, send or transmit them (either by post nor by any other method or instrument of communication or commerce) in the Other Countries.

This press release, as well as any other document that has or will be issued in connection with the Offer does not constitute and cannot be interpreted as an offer to purchase or solicitation of an offer to sell financial instruments to parties resident in Other Countries. No instrument may be offered or sold in the Other Countries in the absence of specific authorisation in compliance with the applicable provisions of the local law of those countries or in derogation of those provisions. Tenders in the Offer by parties resident in countries other than Italy and the United States of America may be subject to specific obligations or restrictions provided by law or regulatory provisions. Parties who wish to take part in the Offer bear the exclusive responsibility to comply with those laws and therefore prior to tendering their Common Shares in the Offer, those parties are required to verify their possible existence and applicability, consulting their own advisors.

This press release contains forward-looking information and statements. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance. Forward-looking statements are generally identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates” and similar expressions. Investors and holders of Iveco shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Offeror and Iveco, that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include those discussed or identified in the public documents sent by the Offeror to Consob. Except as required by applicable law, the Offeror and Iveco do not undertake any obligation to update any forward-looking information or statements.

Attachment

On 29 October 2026, the additional buyback offer for Tier 2 bonds issued by Admiral Markets AS (ISIN EE3300111251, nominal value EUR 100 per bond, maturity date 28 December 2027, hereinafter the “Bond”) ended. 

During the offer period, orders from 50 investors were received for the buyback of 1,499 Bonds with an aggregate nominal value of EUR 149,900.  

The repurchase price is EUR 103.78 per Bond, consisting of the nominal value of EUR 100, a premium of EUR 1 and accrued interest of EUR 2.78. 

All Bonds offered for repurchase will be accepted. All investors were provided with an opportunity to offer their Bonds to Admiral Markets AS for repurchase on equal terms. 

The settlement of the transactions, including the transfer of the Bonds, is scheduled for 2 November 2026. 

Following completion of the settlement, the listing and trading of the Bonds on the Nasdaq Tallinn Stock Exchange will be terminated in accordance with the decision of the Nasdaq Tallinn Listing and Surveillance Committee of 29 September 2026. 

For additional information, please contact: 

Anton Tikhomirov 

Member of the Management Board 

Admiral Markets AS 

+372 6309 300
Anton.Tikhomirov@admiralmarkets.com

AS LHV Group announces that during the period 23 October to 29 October 2026, it has acquired the company’s own shares on the Nasdaq Tallinn Stock Exchange as follows: 

Date  Aggregated volume (pcs)  Weighted average price per day (EUR) 
23.10.2026 9,212 3.27
26.10.2026 21,200 3.2675
27.10.2026 10,461 3.254875251
28.10.2026 9,200 3.26
29.10.2026 9,200 3.26

 
LHV Group is acquiring its own shares based on the resolution of the company’s general meeting of shareholders held on 26 March 2025, and under the conditions decided by the Supervisory Board. The authorized agent for the transactions is AS LHV Pank. Summary data of the acquisitions will be disclosed no later than on the seventh trading day after the transaction and will be made available to the Financial Supervision and Resolution Authority, via the Nasdaq Tallinn system, and on LHV Group’s investor website. 

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group’s key subsidiaries are LHV Pank, LHV Varahaldus, LHV Kindlustus and LHV Bank Limited. The Group employs approximately 1,200 people. The services of LHV Pank are used by over 517,000 customers, the II pillar pension funds managed by LHV have 104,000 active customers and LHV Kindlustus protects a total of 246,000 customers. LHV Bank Limited, a subsidiary of the Group, holds a banking licence in the United Kingdom and provides banking services to international financial technology companies, as well as loans to small and medium-sized enterprises.

 
Investor Relations 
Sten Hans Jakobsoo 
Head of Investor Relations and Corporate Development 
Email: stenhans.jakobsoo@lhv.ee 

Communications 
Paul Pihlak 
Head of Communications 
Email: paul.pihlak@lhv.ee  

„INVL Technology“ (hereinafter – “the Issuer“) publishes the notification received from AB Invalda INVL on the disposal of voting rights (attached). The notification is submitted because the proportion of voting rights attached to the Issuer’s shares held by AB Invalda INVL fell below the 15% threshold (as a result of a transaction executed during the buyback on 28 October 2026).

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
e-mail k.tonkunas@invltechnology.lt

Attachment

The company has received notifications about the transactions with „INVL Technology“ shares.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
e-mail k.tonkunas@invltechnology.lt

Attachments

In accordance with Chapter XI “Calculation of Net Asset Value” of the Articles of Association of INVL Technology (hereinafter – the Company), the Company announces its unaudited interim net asset value, which as of 30 September 2026 amounted to EUR 66,231,384, or EUR 5.5292 per share.

UAB INVL Asset Management, the management company of the Company (hereinafter – the Management Company), has identified, in the course of its regular operational control procedures, that an error occurred in determining the Company’s net asset value as of 30 June 2026. Accordingly, the corrected net asset value of the Company is presented below:

  • The Company’s net asset value as of 30 June 2026 was EUR 65,987,484.81, or EUR 5.5089 per share. The difference from the previously announced net asset value is 0.18 %.

This discrepancy in the Company’s net asset value has not had any negative consequences for the Company’s shareholders.

The buy-back of the Company’s shares, which took place from 9 October 2026 to 28 October 2026, was carried out on the basis of the net asset value as of 30 June 2026, which was 0.18 % higher than the corrected net asset value of the Company as of 30 June 2026 stated above.

The difference between the incorrect net asset value applied during the share buy-back and the corrected net asset value will be compensated to the Company by the Management Company.

The person authorised to provide additional information:
Kazimieras Tonkūnas
Managing Partner of INVL Technology
E-mail: k.tonkunas@invltechnology.lt

Equity of INVL Technology and the Company’s net asset value as of 30 September 2026 was EUR 66.2 million or EUR 5.5292 per share (31 December 2025 these figures were EUR 64.62 million and EUR 5.4013 respectively).

Investments of the Company into managed companies amounted to EUR 70.79 million at the end of September 2026 and EUR 56.0 million at the end of September 2025.

The net profit of the Company for 9 months of 2026 amounted to EUR 1.670 million; the net profit of the Company for 9 months of 2025 was EUR 2.1 million.

Additional information:

INVL Technology, a company that invests in IT businesses, had equity and net asset value (NAV) of EUR 66.23 million at the end of September 2026, or EUR 5.53 per share. These figures have increased by 2.5% and 2.4%, respectively, since the beginning of the year.

In the first three quarters of 2026, the company earned an unaudited net profit of EUR 1.67 million, 20.3% less than in the same period last year, when profit stood at EUR 2.10 million.

“Although the third quarter was slower than the exceptionally strong period last year, we expect the fourth quarter results to deliver solid annual growth in the EBITDA and net profit of our portfolio companies. We anticipate that NRD Cyber Security will double its volume of recurring services and expand deployments of its proprietary products, Natrix and CyberSet, across Europe and globally. In addition, Novian’s artificial intelligence and deep-tech services and solutions segment is expected to approach one third of its revenue, while NRD Companies will secure long-term contracts in the areas of tax administration automation and digital registries,” says Kazimieras Tonkūnas, Managing Partner of INVL Technology.

Performance of portfolio companies

Aggregated revenue of INVL Technology’s portfolio companies in January–September 2026 amounted to EUR 51.46 million, down 3.5% compared to the same period last year. Gross profit for the comparative period increased by 3.6% to EUR 17.15 million, while aggregated EBITDA fell by 1.7% to EUR 5.10 million.

INVL Technology’s portfolio includes the Baltic IT company Novian, the cybersecurity company NRD Cyber Security, and the GovTech company NRD Companies.

In January–September this year, Novian recorded consolidated revenue of EUR 26.80 million and earned a gross profit of EUR 7.22 million—up 3.9% and 15.9%, respectively, compared to the first three quarters of last year. The group’s normalised EBITDA for the comparative period increased by 33% to EUR 2.73 million.

NRD Cyber Security’s consolidated revenue in January–September 2026 fell by 12.6% year-on-year to EUR 9.56 million compared to the same period in 2025. Gross profit for the comparative period decreased by 10% to EUR 3.31 million, and EBITDA dropped by 31.1% to EUR 1.26 million.

NRD Companies’ consolidated revenue in the first three quarters of 2026 reached EUR 8.82 million, a 5.2% increase compared to the same period last year. The company generated a gross profit of EUR 3.91 million, or 1.2% more than in January–September 2025. The group’s EBITDA for the comparative period decreased by 3.2% to EUR 1.24 million.

Managed by INVL Asset Management, the leading alternative asset manager in the Baltics, INVL Technology operates as a closed-end investment company whose investments must be realised by mid-July 2028 at the latest, with the proceeds distributed to shareholders.

The person authorized to provide additional information:
Kazimieras Tonkūnas
INVL Technology Managing Partner
E-mail k.tonkunas@invltechnology.lt

Attachment

HARVIA PLC STOCK EXCHANGE RELEASE 30 OCTOBER 2026 AT 4.00 P.M. EET

 

Harvia Oyj – Managers’ Transactions
____________________________________________
Person subject to the notification requirement
Name: Markus Lengauer
Position: Member of the Board/Deputy member
Issuer: Harvia Oyj
LEI: 7437002ULTBOWQQOXL69
Notification type: INITIAL NOTIFICATION
Reference number: 178315/5/4

____________________________________________
Transaction date: 2026-10-30
Venue: MUNC
Instrument type: SHARE
ISIN: FI4000306873
Nature of transaction: ACQUISITION 

Transaction details
(1): Volume: 660 Unit price: 38.1 EUR 

Aggregated transactions (1): 
Volume: 660 Volume weighted average price: 38.1 EUR

 

Additional information:

Ari Vesterinen, CFO
tel. +358 40 5050 440
ari.vesterinen@harvia.com

 

Harvia is one of the leading companies operating in the sauna market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna market of both private and professional customers.

Harvia’s revenue totaled EUR 198,9 million in 2025. Harvia Group employs over 700 professionals in Finland, United States, Germany, Romania, China and Hong Kong, Austria, Italy and Sweden. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com

NEWPORT NEWS, Va., Oct. 30, 2026 (GLOBE NEWSWIRE) — HII (NYSE: HII) announced today the appointment of Renee Swan to executive vice president and chief human resources officer (CHRO), effective Dec. 7, 2026. Swan comes to HII from Nashville-based Atmus Filtration Technologies (NYSE: ATMU), where she served as senior vice president and chief people officer.

Renee will assume the position held by HII CHRO Edmond Hughes, who led human resources for HII’s Ingalls Shipbuilding division before assuming the company’s CHRO role in 2022. Hughes will support Swan’s transition before he retires in April 2027, after 21 years with the company.

“Whether you’re a shipbuilder on the deckplate, or a technologist, nuclear engineer, or working in a support function, people will always be at the heart of HII,” said Chris Kastner, president and CEO of HII. “I thank Edmond for his important contribution to the evolution and growth of HII and I welcome Renee to build on Edmond’s success, and lead our people strategy forward.”

Swan will be responsible for HII’s human resources strategy; executive and employee compensation; health and welfare; benefits; employee and labor relations; learning and development; talent management and succession planning; talent acquisition; equal employment opportunity; organizational effectiveness; and change management.

Renee Swan-2026

A photo accompanying this release is available at: http://hii.com/news/hii-appoints-renee-swan-as-executive-vice-president-and-chief-human-resources-officer/.

At Atmus Renee led all aspects of human resources. In prior roles, Swan served as a vice president of human resources at L3Harris, and has human resources experience at Kennametal, Honeywell International, and Eaton Corporation.

Renee has a Master of Professional Studies in human resource management from Cornell University, an MBA from Point Park University, and a bachelor’s degree in communications from the University of Pittsburgh.

About HII

HII is America’s Seapower Company. The nation’s largest shipbuilder, HII builds the manned and unmanned maritime systems and all-domain mission technologies that project U.S. and allied power around the world. With a more than 140-year history of advancing U.S. national security, HII is headquartered in Virginia and employs 46,000 people across three divisions. For more information, visit:

Contact:

Danny Hernandez
Danny.Hernandez@HII.com
(202) 264-7143

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8eea8e88-f9cf-4215-8256-d78ec8333a69

AS Silvano Fashion Group Consolidated Interim Financial Report for Q3 and 09m of 2026

Selected Financial Indicators

Summarized selected financial indicators of the Group for 09 months of 2026 compared to 09 months of 2025 and 30.09.2026 compared to 31.12.2025 were as follows:

in thousands of EUR 09m 2026 09m 2025 Change
Revenue 44 722 44 379 0.8%
Gross Profit 25 217 24 230 4.1%
Operating profit 10 086 10 258 -1.7%
EBITDA 12 790 12 810 -0.2%
Net profit for the period 7 045 8 985 -21.6%
Net profit attributable equity holders of the Parent company 6 496 8 281 -21.6%
Earnings per share (EUR) 0,18 0,23 -21.7%
Operating cash flow for the period 14 533 6 866 111.7%
       
in thousands of EUR 30.09.2026 31.12.2025 Change
Total assets 98 164 93 847 4.6%
Total current assets 86 344 79 659 8.4%
Total equity attributable to equity holders of the Parent company 82 338 76 768 7.3%
Cash and cash equivalents 16 906 6 639 154.6%
Short-term deposits over 3 months 39 117 38 311 2.1%
       
Margin analysis, % 09m 2026 09m 2025 Change
Gross profit 56.4 54.6 3.3%
Operating profit 22.6 23.1 -2.2%
EBITDA 28.6 28.9 -1.0%
Net profit 15.8 20.2 -21.8%
Net profit attributable to equity holders of the Parent company 14.5 18.7 -22.5%
       
Financial ratios, % 30.09.2026 31.12.2025 Change
ROA 7.7 10.0 -23.0%
ROE 9.3 12.5 -25.6%
Price to earnings ratio (P/E) 5.3 4.9 8.2%
Current ratio 12.4 8.6 44.2%
Quick ratio 8.6 5.2 65.4%

Financial performance

The Group`s sales amounted 44 722 thousand EUR during 09 months of 2026, representing a 0.8% increase as compared to the same period of previous year. Overall, retail increased by 12.8%, measured in EUR.

The Group’s gross profit during 09 months of 2026 amounted to 25 217 thousand EUR and increase by 4.1% compared to previous year. The gross margin during 09 months of 2026 increased by 3.3% compared to 09 months of 2025. The cost of sold goods decreased by 3.2%.

Consolidated operating profit for 09 months of 2026 amounted to 10 086 thousand EUR, compared to 10 258 thousand EUR for 09 months of 2025, decrease by 1.7%. The consolidated operating profit margin was 22.6% for 09 months of 2026 (23.1% for 09 months of 2025). Consolidated EBITDA for 09 months of 2026 decreased by 0.2% and amounted to 12 790 thousand EUR, which is 28.6% in margin terms (12 810 thousand EUR and 28.9% for 09 months of 2025).

Reported consolidated net profit attributable to equity holders of the Parent company for 09 months of 2026 amounted 6 496 thousand EUR, compared to net profit of 8 281 thousand EUR for 09 months of 2025, net profit margin attributable to equity holders of the Parent company for 09 months of 2026 was 14.5% against net profit margin 18.7% for 09 months of 2025.

Financial position

As of 30 September 2026, consolidated assets amounted to 98 164 thousand EUR representing increase by 4.6% as compared to the position as of 31 December 2025.

Trade and other receivables increased by 524 thousand EUR as compared to 31 December 2025 and amounted to        1 853 thousand EUR as of 30 September 2026. Inventory balance decreased by 4 928 thousand EUR and amounted to 26 309 thousand EUR as of 30 September 2026.

Equity attributable to equity holders of the Parent company increased by 5 570 thousand EUR and amounted to             82 338 thousand EUR as of 30 September 2026. Current liabilities decreased by 2 316 thousand EUR during 09 months of 2026.

Investments

During 09 months of 2026 the Group’s investments into property, plant and equipment totalled 164 thousand EUR, in previous year same 562 thousand EUR. Investments were made mainly into opening and renovating own stores, as well into equipment and facilities to maintain effective production for future periods.

Personnel

As of 30 September 2026, the Group employed 1 561 employees, including 539 people in retail operations. The rest were employed in production, wholesale, administration and support operations. In 31.12.2025 there were 1 639 employees, including 552 people in retail operations.

Total salaries and related taxes during 09 months  of 2026 amounted 12 844 thousand EUR (11 648 thousand EUR in 09 months 2025). The remuneration of key management of the Group, including the key executives of all subsidiaries, totalled 1 052 thousand EUR.

Consolidated Statement of Financial Position

in thousands of EUR Note 30.09.2026 31.12.2025
    Unaudited Audited
ASSETS      
Current assets      
Cash and cash equivalents 2 16 906 6 639
Short-term deposits over 3 months 2 39 117 38 311
Trade and other receivables 3 1 853 1 329
Prepayments and other tax receivables 3 2 114 2 106
Other assets   45 37
Inventories 4 26 309 31 237
Total current assets   86 344 79 659
       
Non-current assets      
Non-current receivables   307 313
Investments in associates   92 97
Investments in other shares   220 221
Deferred tax asset   3 052 3 656
Intangible assets   634 658
Investment property   833 859
Property, plant and equipment 5 6 682 8 384
Total non-current assets   11 820 14 188
TOTAL ASSETS   98 164 93 847
       
LIABILITIES AND EQUITY      
Current liabilities      
Current lease liabilities   593 2 519
Trade and other payables 6 3 849 5 506
Tax liabilities   2 534 1 267
Total current liabilities   6 976 9 292
       
Non-current liabilities      
Non-current lease liabilities   3 966 3 389
Non-current provisions   45 45
Total non-current liabilities   4 011 3 434
Total liabilities   10 987 12 726
       
Equity      
Share capital 7 3 600 3 600
Share premium   4 967 4 967
Statutory reserve capital   1 306 1 306
Unrealised exchange rate differences   -19 875 -18 949
Retained earnings   92 340 85 844
Total equity attributable to equity holders of the Parent company   82 338 76 768
Non-controlling interest   4 839 4 353
Total equity   87 177 81 121
TOTAL EQUITY AND LIABILITIES   98 164 93 847

Consolidated Income Statement

in thousands of EUR Note 3Q 2026 3Q 2025 09m 2026 09m 2025
    Unaudited Unaudited Unaudited Unaudited
Revenue from contracts with customers 9 16 132 15 951 44 722 44 379
Cost of goods sold   -6 807 -6 812 -19 505 -20 149
Gross Profit   9 325 9 139 25 217 24 230
           
Distribution expenses   -3 569 -3 431 -10 481 -9 661
Administrative expenses   -1 422 -1 328 -4 506 -4 000
Other operating income   133 102 343 260
Other operating expenses   -132 -185 -487 -571
Operating profit   4 335 4 297 10 086 10 258
           
Currency exchange income/(expense)   -850 -701 -698 737
Other finance income/(expenses)   256 133 548 347
Net finance income   -594 -568 -150 1 084
           
Profit (loss) from associates using equity method   2 -1 -2 -13
Profit before tax   3 743 3 728 9 934 11 329
           
Income tax expense   -1 019 -1 022 -2 889 -2 344
           
Profit for the period   2 724 2 706 7 045 8 985
Attributable to:          
   Equity holders of the Parent company   2 535 2 500 6 496 8 281
   Non-controlling interest   189 206 549 704
           
Earnings per share from profit attributable to equity holders of the Parent company, both basic and diluted (EUR) 8 0,07 0,07 0,18 0,23

Consolidated Statement of Comprehensive Income

in thousands of EUR Note 3Q 2026 3Q 2025 09m 2026 09m 2025
    Unaudited Unaudited Unaudited Unaudited
           
Profit for the period   2 724 2 706 7 045 8 985
           
Other comprehensive income (loss) that will be reclassified to profit or loss in subsequent periods:          
Exchange differences on translation of foreign operations -1 844 -764 -989 455
Total other comprehensive income for the period   -1 844 -764 -989 455
           
Total comprehensive income (loss) for the period   880 1 942 6 056 9 440
Attributable to:          
   Equity holders of the Parent company   859 1 820 5 570 8 679
   Non-controlling interest   21 122 486 761

Consolidated Statement of Cash Flows

in thousands of EUR Note 09m 2026 09m 2025
Cash flow from operating activities   Unaudited Unaudited
Profit for the period   7 045 8 985
Adjustments for:      
  Depreciation and amortization of non-current assets   2 704 2 552
  Share of profit of equity accounted investees   2 13
  Gains/Losses on the sale of property, plant and equipment   7 1
  Net finance income / costs   150 -1 084
  Provision for impairment losses on trade receivables   -1 1
  Provision for inventories   -24 4
  Income tax expense   2 889 2 344
Change in inventories   4 928 -1 339
Change in trade and other receivables   -601 -329
Change in trade and other payables   -788 -2 417
Interest paid   0 -7
Income tax paid   -1 778 -1 858
Net cash flow from operating activities   14 533 6 866
       
Cash flow from investing activities      
Interest received   1 275 1 011
Dividends received   0 12
Purchase of other financial investments   -52 000 -50 400
Proceeds from other financial investments   51 100 44 700
Proceeds from disposal of property, plant and equipment   49 1
Loans granted   0 -11
Proceeds from repayments of loans granted   0 11
Acquisition of property, plant and equipment   -164 -562
Acquisition of intangible assets   -36 -38
Net cash flow from investing activities   224 -5 276
       
Cash flow from financing activities      
Proceeds from borrowings   0 500
Repayment of borrowings   0 -500
Payment of principal portion of lease liabilities   -2 199 -1 847
Interest paid on lease liabilities   -622 -660
Net cash flow from financing activities   -2 821 -2 507
       
Net increase/decrease in cash and cash equivalents   11 936 -917
Cash and cash equivalents at the beginning of period 2 6 639 7 683
Effect of translation to presentation currency   -1 574 1 321
Effect of exchange rate fluctuations on cash held   -95 -423
Cash and cash equivalents at the end of period 2 16 906 7 664

AS Silvano Fashion Group
Phone: +372 6845 000
Email: info@silvanofashion.com

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