​Main conclusions of the July-September 2024 results:

· Revenue of €305.1 million, an increase of 2.5% compared to the previous year, driven by growth in casings volumes.

· EBITDA of €74.8 million, a growth of +18.3% compared to the previous year and with an improvement of 3.2 p.p. in the EBITDA margin to 24.5%.

· Net profit of €37.5 million, a decrease of -1.2% compared to the previous year, affected by negative exchange rate differences and a higher tax rate. Thus, Net profit in 9M24 amounted to €106.3 million, a growth of 5.5% versus the same period of the last year.

· The acquisition of 60% of the companies Brasfibra y Master Couros in Brazil for a cash consideration of BRL 88 million reinforces our product portfolio in New Business with high quality collagen products.

· Reduction in net bank debt at September 2024 with €147.7 million compared to €197.3 million in June 2024 thanks to the strong cash generation and the focus on working capital reduction.

· José Antonio Canales, CEO of Viscofan Group: ‘The growth observed in the volumes of the main casings families reflects that the inventory adjustment process initiated in 2023 has already been completed.

The dynamism of this recovery is slightly lower than expected, however, production improvements, cost savings, lower raw material and energy prices led us to reach quarterly margins close to 25%, even higher than initially estimated.

The profitability achieved and the Group's operational strength allow us to set our expectations for the year at 6% to 8% growth in EBITDA and at 8% to 10% growth in Net profit despite lower-than-expected co-generation revenue and a worse currency environment.

In addition, this quarter saw two significant milestones in our Beyond25 strategic plan. On the one hand, the construction of the factory in Thailand has been completed, which will improve our positioning in view of the growth in Southeast Asia; and, on the other hand, the acquisition of Brasfibra and Master Couros has been completed, which expands our production portfolio in the New Business.

In short, the third quarter results place us on the growth path to achieve record results in 2024, and to continue with our strategy of profitable and sustainable growth for the future’.

All results information is available on the Viscofan´s IR website. LINK​