MEXEDIA S.p.A. Società Benefit Half-Year Results 2026: New Operating Perimeter and Significant Reduction in Net Financial Debt

• Net financial debt of € 4.3 million (€ 34.7 million as at 31 December 2025), mainly as a result of the deconsolidation of Telvantis Inc.
• Consolidated equity of € 12.3 million, equal to 54.3% of total assets (19.8% as at 31 December 2025)
• Consolidated revenue of € 14.2 million, on a substantially different perimeter and not directly comparable with the first half of 2025 (€ 104.4 million in the first half of 2025)
• EBITDA of € -0.40 million, in a phase of realignment of the cost structure to the new operating perimeter
• Net result of € -22.3 million, of which € 21.4 million relates to the accounting, non-cash effect of the deconsolidation of Telvantis Inc.

ROME--(BUSINESS WIRE)--Regulatory News:

The Board of Directors of Mexedia S.p.A. Società Benefit (Euronext Growth Paris: ALMEX — ISIN IT0005450819) met today and approved the unaudited consolidated results for the first half of 2026.

The unaudited Consolidated Half-Year Financial Report as at 30 June 2026 will be made available to the public by 30 October 2026, in line with the Company's financial calendar.

A half-year marked by the redefinition of the Group’s perimeter

The first half of 2026 represents for Mexedia a period of significant, and planned, discontinuity compared with the previous financial year and marks the beginning of a new phase for the Group.

Telvantis Inc., which held the wholesale voice termination business disposed of with effect from 31 December 2025, left the scope of consolidation with effect from 8 April 2026. As at 30 June 2026 the scope of consolidation therefore comprises Mexedia S.p.A. Società Benefit only.

In view of the significant change in the Group’s perimeter, the financial results for the first half of 2026 are not directly comparable with those of the corresponding period of the previous financial year.

Significant reduction in net financial debt

The main element of discontinuity in the half-year relates to the Group’s financial structure. As at 30 June 2026 net financial debt amounts to € 4.3 million, compared with € 34.7 million as at 31 December 2025, a reduction of € 30.5 million.

This change is almost entirely attributable to the exit from the scope of consolidation of the debt positions relating to Telvantis Inc. and should therefore be read in the light of the significant change in the Group’s perimeter.

Consolidated equity amounts to € 12.3 million, equal to 54.3% of total assets, compared with 19.8% as at 31 December 2025. As at the end of the half-year, current assets also exceed current liabilities.

Operating performance for the half-year

Consolidated revenue for the first half of 2026 amounts to € 14.2 million, compared with € 104.4 million in the first half of 2025, the latter figure relating to a significantly different perimeter.

Gross margin amounts to € 0.46 million, equal to 3.2% of revenue, compared with € 5.36 million and 5.1% of revenue in the first half of 2025. EBITDA is negative by € 0.40 million.

The operating result for the period reflects, in particular, the lower absorption of the Mexedia S.p.A. Società Benefit’s structural costs following the significant reduction in consolidated volumes, in a phase of organisational realignment and of realignment of the cost structure to the new operating perimeter, which is still ongoing.

Accounting effect of the deconsolidation of Telvantis Inc.

The consolidated net result for the first half of 2026 is negative by € 22.3 million, compared with a negative result of € 2.3 million in the corresponding period of the previous financial year.

The result for the half-year is affected by € 21.4 million relating to the effect of the deconsolidation of Telvantis Inc., recognised in accordance with IFRS 10. This component, representing approximately 96% of the consolidated net loss for the half-year, is of an accounting nature and has no cash impact, and its effect is entirely concentrated in the first half of 2026.

Acquisition of control of Stantup Service S.r.l.

As at 30 June 2026 Mexedia had acquired a 0.93% interest in the share capital of Stantup Service S.r.l., while the effectiveness of the contribution in kind of the remaining 50.07% interest was subject to the completion of the required legal formalities.

Those formalities were completed on 10 August 2026 and, with effect from that date, Mexedia holds a total interest of 51% in the share capital of Stantup Service S.r.l., thereby acquiring control. Stantup Service S.r.l. will therefore be included in the Group’s scope of consolidation as from the second half of 2026.

The Mexedia shares issued in connection with the contribution in kind were admitted to trading on Euronext Growth Paris with effect from 13 August 2026.

Reserved capital increase in favour of Rockbridge Capital Management AG

Under the investment agreement entered into with Rockbridge Capital Management AG, which provides for an aggregate commitment of € 2 million, the reserved capital increase resolved upon on 24 July 2026 for a total amount of € 1 million has been fully implemented.

The capital increase was carried out through two tranches of € 500,000 each, subscribed and paid up on 24 July 2026 and 25 September 2026 respectively. Following these issues, the share capital of Mexedia S.p.A. Società Benefit amounts to € 57,320,000, represented by 8,353,129 ordinary shares.

Developments in equity after the end of the half-year

As at 30 June 2026 the conditions set out in Article 2446 of the Italian Civil Code were still met, having already been identified in respect of the previous financial year.

After the end of the half-year, the transactions completed by the Company resulted in an overall strengthening of equity of € 17.2 million, which accordingly affects the assessment of those conditions.

Outlook

In the second half of 2026 Mexedia will focus on the integration of Stantup Service S.r.l., which will contribute to the Group’s consolidated results for the first time, on the progressive realignment of the cost structure to the new operating perimeter and on the consolidation of its financial balance.

The second half will therefore be the first period in which the effects of the new corporate and operating structure defined during 2026 will begin to be reflected in the Group’s consolidated results.

Statement pursuant to Article 154-bis, paragraph 2, of the Italian Consolidated Financial Act

The undersigned Paolo Bona, in his capacity as Chief Executive Officer, and Augusto Pellegrini, in his capacity as Manager responsible for preparing the Company’s financial reports, declare – pursuant to paragraph 2 of Article 154-bis of Legislative Decree No. 58/1998 – that the accounting information contained in this press release corresponds to the documentary results, books and accounting records.

The Consolidated Half-Year Financial Report as at 30 June 2026 will be made available to the public in the “Financial reports” section of the Company’s website:

www.mexedia.com/en/financial-statements-and-reports/

Forward-looking statements

This press release may contain forward-looking statements within the meaning of Regulation (EU) No 596/2014 (“MAR”) and other applicable regulations. Such statements reflect expectations and projections relating to future events and financial performance and are subject to risks and uncertainties that could cause actual results to differ materially.

About Mexedia

Mexedia S.p.A. Società Benefit is a tech company listed on Euronext Growth Paris (ticker: ALMEX), operating in telecommunications and digital services for businesses. Alongside the direct management of its traditional business, the Group holds and develops specialised operating companies, including, as at the date of this press release, Stantup Service S.r.l., a technology enabler and Business Process Outsourcer active in the Energy, Banking, Telco and Insurance markets. As a Società Benefit, Mexedia combines economic growth with social responsibility through initiatives in the cultural, sporting and environmental fields, pursuing the creation of long-term value for all stakeholders.

Mexedia S.p.A. S.B.
Via di Affogalasino, 105 - 00148
Rome RM, Italy
T: [phone]
mexedia.com

PEC: [e-mail]
Cap. Soc.: € 57.320.000,00 i.v.
P.IVA e C.F: 15997541006
REA: 1627922