Dear shareholders,
What is certainly an extraordinary and dynamic moment also presents aspects that every day result in legitimate concerns. Everything is moving much more quickly. Geopolitical tensions, market volatility, natural events and rapid technological transformation are redefining the balances of individuals and businesses alike. The time we are living in is both extraordinary and chaotic, one of those moments when great opportunities can arise.
In this complex scenario, the Group has managed not only to remain on its desired strategic path, but also to take a historic step for its development: the acquisition of the Hydraulic Equipment division of Nabtesco Corporation. This is a truly transformational operation, which further expands the Group’s technological scope by integrating excellent skills in the high-range hydraulic sector and considerably strengthening our
industrial presence in Asia. This acquisition places Comer Industries in a unique position in the international landscape, making it a premium-level integrated platform of mechanical, electrical and now hydraulic solutions.
Although the economic and financial results achieved in 2025 were affected by market trends, they confirm the Group’s strength, its rigorous operations management and its ability to generate value
even through periods of volatility. Further improvement in the net financial position bears witness to a disciplined approach to investments and working capital, preserving the flexibility required to take on
new opportunities for development. Today, Comer Industries is a broader, more integrated and more international group, with a portfolio of solutions encompassing mechanics, electronics and hydraulics in pursuit of an increasingly synergistic approach. We look to 2026 with a sense of responsibility and confidence. International outlooks remain varied, but our business strategy – rooted in innovation, technological integration, operational excellence, sustainable growth and talent development – allows us to tackle the global scenario with awareness and a long-term vision.
We thank you for your renewed trust and for the support that you continue to provide us.