Italiaonline, first nine months of 2026 up on all key indicators: revenues at €221 million (+7%), EBITDA at €39 million (+23%), operating cash flow more than doubled

Milan, 11 November 2026 – Italiaonline S.p.A., Italy’s leader in media, tech and digital services for the B2B and B2C markets, announces its results for the first nine months of 2026, which confirm and strengthen the growth trajectory already set in the first half: in the third quarter the Group further improved profitability and cash generation, consolidating its leading position in the digital market.

FINANCIAL RESULTS FOR THE FIRST NINE MONTHS OF 2026: GROWTH IN REVENUES, MARGINS AND CASH FLOW

As of 30 September 2026, all of the Group’s key financial indicators were up compared with the same period of the previous year.

• Consolidated revenues: reached €221 million, up 7% from €207 million in the first nine months of 2025. Growth was driven by the Media & Tech business line, which reached €75.1 million (+29.5%), led by Platform Services (€43 million, +58%) and Digital VAS value-added services (€8.5 million, +19.5%); the Web & Communications Solutions business line, dedicated to custom services for Italian SMEs, exceeded €12 million (+6%).
• EBITDA: rose to €39 million, +23% from €32 million in the first nine months of 2025. The EBITDA margin stood at 17.8%, up more than 2 percentage points, confirming the Group’s operating leverage.
• Operating Free Cash Flow (OpFCF): accelerated to €32 million (+106%) from €15.5 million in the first nine months of 2025, with an EBITDA-to-cash conversion rate of over 80%.
• Net financial position: net debt, including the IFRS 16 component, fell to €3.8 million from €48.9 million as of 30 September 2025, confirming a solid financial profile and broad strategic flexibility.

AI AT THE HEART OF THE INDUSTRIAL MODEL

These results are underpinned by a business model that has been deeply renewed in recent years in terms of offering, technology and organisation, and that today is built on three complementary areas:

1. Media & Tech: with over 10 million active e-mail accounts, Italiaonline is confirmed as Italy’s leading e-mail provider and, with around 29 million monthly unique users – equal to 66% of the national digital reach* – as the country’s leading pure digital media player. A wealth of first-party data which, combined with in-house developed ad technologies such as the programmatic advertising platform EasyBid, provides a distinctive competitive advantage in a market being redefined around the post-cookie era and AI search.
2. SME Digital One-Stop-Shop: around 100 thousand business clients rely on Italiaonline as a single partner for their digital growth – from building their online presence to e-commerce, digital advertising campaigns, social media management and the MARiO voice assistant – with an offering that natively integrates generative and agentic AI.
3. Digital Factory: the adoption of AI across the entire operating chain – delivery, IT and customer care – has lowered the cost per unit of service, shortened delivery times and increased productivity, as demonstrated by over 40 thousand websites and 190 thousand social posts managed.

Roberto Giacchi, Chief Executive Officer of Italiaonline S.p.A., commented: “The first nine months of 2026 show that the growth recorded in the first half is not a one-off but structural: all key indicators continue to improve and, with net debt now close to zero, the Group can rely on a financial strength that allows us to invest steadily in development. This is the result of a transformation that has made artificial intelligence the common thread of our offering and our processes, and in which Ad Tech, including on international markets, has become one of our main growth engines. I would like to thank all the people of Italiaonline, who with their skills and commitment are building this journey day after day. We approach the last quarter of the year with determination and with the confidence of those who have built solid foundations. Above all, we look to the future with great optimism and with the confidence that comes from being the digital leader in Italy”.

* Source: Audicom, total digital audience, January 2026.

ALTERNATIVE PERFORMANCE MEASURES

This press release contains measures not defined by the applicable accounting standards (IFRS), which are used by management to monitor the Group’s performance. EBITDA, or operating income before depreciation, amortisation and other net non-recurring and restructuring costs: EBIT (operating income) before net non-recurring and restructuring costs and operating and non-operating depreciation, amortisation and write-downs. EBITDA margin: ratio of EBITDA to revenues. Operating Free Cash Flow (OpFCF): cash flow generated by operations, equal to EBITDA net of capital expenditure and changes in working capital and other operating items. EBITDA cash conversion: ratio of OpFCF to EBITDA. Net financial debt: algebraic sum of cash and cash equivalents, current financial receivables and current and non-current financial payables.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements regarding the Group’s intentions, estimates and forecasts. Such statements are not a guarantee of future results and are subject to risks and uncertainties, many of which are beyond the Group’s control; actual results may therefore differ materially. The figures for the first nine months of 2026 are consolidated management figures and have not been audited; they have been prepared on the basis of the information available at the date of this press release and of management’s best estimates for management reporting purposes. These figures are therefore subject to updating, revision or change, including as a result of new information and subsequent checks.

This press release is available in the Press Area section of www.italiaonline.it.