ANNOUNCEMENT

Commentary on the Annual Financial Results for the Financial Year 2025
(Regulated Information – Annual Financial Report)

Elliniko, April 29, 2026

INTERTECH S.A. INTERNATIONAL TECHNOLOGIES (hereinafter referred to as the “Company”) announces its annual financial results for the financial year ended December 31, 2025. The Annual Financial Statements for the financial year 2025 have been prepared in accordance with the International Financial Reporting Standards (IFRS) as adopted by the European Union and were approved by the Company’s Board of Directors at its meeting held on April 29, 2026.

Business Environment

During the financial year 2025, the business environment in the Greek electronics and technology market was characterized by gradual stabilization. Inflation decelerated compared to 2024, reducing uncertainty, while cost levels remained elevated. The broader consumer products sector exhibited a wait‑and‑see stance and volume stagnation, as consumers postponed non‑essential purchases. Energy costs remained volatile, affecting operating expenses, while competition from low‑cost imports intensified, exerting additional pressure on prices and profit margins.

Turnover – Sales Performance

During the current financial year, the Company recorded a 29% decrease in turnover compared to 2024, with turnover amounting to €12,381 thousand, compared to €17,417 thousand in the previous financial year. The decline in sales was mainly attributable to:

• the continued contraction of the cordless telephone market
• the revised strategy regarding the product mix of Panasonic in the television category
• the loss of revenues from alkaline batteries following the sale of Panasonic’s subsidiary APS
• the absence of further development of projects with the Greek State, which had been implemented during 2022 and 2023 and were completed within 2024.

Gross Result – Gross Profit Margin

Gross profit amounted to €2,150 thousand, compared to €3,161 thousand in the previous financial year, representing a decrease of 32%. The gross profit margin stood at 17.4%, compared to 18.2% in 2024.

This development was mainly due to:

• the decrease in sales,
• increases in the purchase cost of goods,
• pricing policies applied in certain product categories in order to address intense competition.

Operating Expenses

Administrative expenses amounted to €1,352 thousand, compared to €1,196 thousand in the previous financial year, recording an increase of €156 thousand.
The increase in administrative expenses is mainly attributable to higher payroll costs, increased expenses for maintenance and support of information systems and operational security, as well as expenses related to building maintenance studies and the provision of legal and consulting services.

Selling and distribution expenses amounted to €2,062 thousand, compared to €2,429 thousand in the previous financial year, recording a decrease of €367 thousand.

Financial Expenses – Ancillary Income

The decrease in financial expenses was mainly due to:

• reduced use of short‑term financing, both through factoring and overdraft facilities secured by customer cheques,
• a reduction in borrowing interest rates following successful negotiations with banks,
• the maturity and full repayment of a bond loan amounting to €2 million, which had been obtained in December 2021 and was fully repaid by September 2025.

At the same time, a significant reduction in ancillary income was recorded, due to the reduced participation of the Company’s main supplier in promotional expenses, by 66% compared to the previous financial year.

Results for the Year

As a result of the above, losses before tax amounted to €1,615 thousand, compared to €721 thousand in the previous financial year, while losses after tax amounted to €1,623 thousand, compared to €678 thousand in 2024.

Earnings before interest, taxes, investing results and depreciation (EBITDA) amounted to losses of €1,081 thousand, compared to profits of €35 thousand in the previous financial year.

Liquidity – Capital Structure

Despite the significant decline in its financial figures during the current financial year, the Company maintained satisfactory liquidity levels, mainly through:

• prudent management of administrative and selling expenses,
• renegotiation of payment terms with suppliers,
• prudent use of banking products.

Key financial ratios were as follows:

Key Financial Figures (amounts in € thousand)

Significant Events after the Reporting Date (four‑month period 2026)

Sale of Property

On April 2, 2026, the Company entered into a preliminary agreement for the sale of the property where its headquarters are currently located, within the Municipality of Elliniko–Argyroupoli, at 24 Aphrodite Street, for a total consideration of €5,950,000.

The sale of the property forms part of the Company’s broader strategic plan for the utilization of its real estate assets, the further strengthening of its financial position and liquidity, as well as the creation of additional value for its shareholders.

The Company’s Management considers that the transaction constitutes a significant strategic step in the implementation of its business plan, while the agreed consideration is deemed fair and competitive, fully reflecting the current market value of the property.

Completion of the sale is expected to take place within May 2026, upon execution of the final notarial deed, subject to the usual terms and conditions applicable to transactions of this nature.

Commencement of Strategic Cooperation

On April 6, 2026, the Company entered into an agreement for the commencement of a strategic cooperation with the international technology Group Skyworth, one of the world’s leading manufacturers of electrical and electronic appliances.

The cooperation αφορά the exclusive distribution of Skyworth air‑conditioning units and “white goods” in the Greek market and forms part of the Company’s strategic plan to strengthen and expand its product portfolio.

Geopolitical Event – IAS 10

After the reporting date, and specifically in February 2026, an armed conflict erupted in Iran, which is part of the broader context of geopolitical instability in the Middle East. This development does not constitute an adjusting event in accordance with IAS 10 “Events after the Reporting Period”, as the relevant conditions did not exist at the reporting date. 

The Company’s Management closely monitors developments and continuously assesses potential impacts on the macroeconomic and financial environment, such as possible energy instability and increased energy costs, inflationary pressures, and effects on global trade and the international supply chain, in order to take all necessary measures to mitigate any potential impact on the Company’s operations.

As of the date of approval of the financial statements, it is not possible to quantify any potential impact arising from this development on the Company’s results and financial position; however, Management estimates that the impact will not be significant for the Company’s activities.

Other than the above, as of the date of approval of the accompanying financial statements, there are no other subsequent events requiring disclosure.