Below is the press release, available in PDF format.
FOLLOWING THE INTEGRATION OF LAND&S, THE GROUP NOW MANAGES APPROXIMATELY 8% OF THE TEU VOLUMES CLEARED THROUGH CUSTOMS AT NATIONAL PORTS
KEY CONSOLIDATED RESULTS AS OF JUNE 30, 2026
- PRODUCTION VALUE OF €6.2 MILLION
- EBITDA OF €1.0 MILLION, WITH AN EBITDA MARGIN OF 16.1%
- EBIT OF €0.5 MILLION
- NET FINANCIAL POSITION OF €5.6 MILLION (CASH POSITIVE)
- CUSTOMS BROKERAGE CONFIRMS ITS ROLE AS A STRATEGIC PILLAR, ACCOUNTING FOR 74.36% OF THE GROUP’S PRODUCTION VALUE
Genoa, September 21, 2026
The Board of Directors of RT&L S.p.A. (“RT&L” or the “Company”), the parent company of the Group of the same name, active in global logistics services with a strong presence in strategic markets and a broad range of integrated solutions in the customs brokerage and freight forwarding sectors, listed on the Euronext Growth Milan segment of Borsa Italiana, today approved the Consolidated Half-Year Financial Report as of June 30, 2026, voluntarily subject to statutory audit.
Roberto Bizzarri, CEO of RT&L, commented:“The first half of 2026 confirms the strength of RT&L’s business model and the Group’s ability to maintain balanced growth and solid profitability, supported by an equally robust financial structure. Customs Brokerage continues to represent the main pillar of our business and a key cash-generation driver, which we intend to continue to focus on as part of our expansion strategy. In this context, the completion of the acquisition of the Land&S Group represents a major strategic milestone for RT&L: the integration of expertise, human capital and key operational hubs across the country enables us to make a decisive step up in scale, positioning us among the leading independent operators nationwide in customs services and maritime logistics. Looking ahead, our objective is to consolidate what we have built and continue to broaden our growth path, leveraging the Group’s expertise and seizing new development opportunities. ”.
CONSOLIDATED ECONOMIC AND FINANCIAL RESULTS AS OF JUNE 30, 2026
It should be noted that this report represents the first interim consolidated financial disclosure of the RT&L Group, which was established in the second half of 2025 following the acquisition of P&A Spedizioni S.r.l.; therefore, no comparative economic data as of June 30, 2025 are presented. For balance-sheet items, comparison with December 31, 2025 is maintained.
Production Value amounted to €6.2 million. The result was mainly driven by the Customs Brokerage Business Line, which accounted for 74.36% of the Group’s total Production Value and provides valuable strategic coverage (natural hedge) for the Project Cargo (11.31%) and General Cargo (12.98%) business lines.
EBITDA amounted to €1.0 million, with an EBITDA Margin of 16.1%.
EBIT stood at €0.5 million (EBIT Margin of 8.62%), reflecting depreciation, amortisation and provisions for the period of €0.5 million, the majority of which relates to the amortisation of goodwill.
Consolidated Net Profit amounted to €0.3 million, after income taxes of €0.2 million.
Net Financial Position (NFP) remained strongly cash positive at €5.6 million, further improving from €5.3 million as of December 31, 2025.
SIGNIFICANT EVENTS DURING THE FIRST HALF
During the first half of 2026, RT&L, as majority shareholder, established Olitrans S.r.l., a company 51% owned by RT&L and headquartered in Livorno, which became operational in April 2026. The initiative enabled the Group to strengthen its General Cargo Business Line, extending its operations to road transport and intra-port logistics services at the Livorno hub.
With regard to the Project Cargo Business Line, on June 16, 2026 RT&L entered into a two-year framework agreement with Guangzhou Salvage, a Chinese company directly controlled by the Ministry of Transport of the People’s Republic of China, specialising in offshore activities, wreck recovery and shipbuilding. Under this agreement, RT&L has exclusive access to 30 vessels to participate jointly with Guangzhou Salvage in tenders and competitive procedures for projects of interest in the Mediterranean, Africa and South America.
SIGNIFICANT EVENTS AFTER JUNE 30, 2026
Acquisition of the Land&S Group and completion of the closing
On July 31, 2026, RT&L entered into a binding agreement for the acquisition of 100% of LandS S.r.l., a holding company comprising six specialised operating companies providing services supporting maritime traffic, including customs brokerage and shipping agency services (the “LandS Group”). In 2025, the LandS Group recorded revenues of approximately €16 million and EBITDA of approximately €1.1 million and, as of December 31, 2025, had a cash-positive Net Financial Position of approximately €3 million.
The Enterprise Value of the transaction was set at €7 million, plus an adjustment based on the Net Financial Position. The transaction qualified as a reverse take-over pursuant to the Euronext Growth Milan Issuers’ Regulation.
On September 8, 2026, RT&L’s Shareholders’ Meeting approved the transaction and, on September 10, 2026, the closing was completed. As of that date, RT&L assumed control and the LandS Group was consequently consolidated into the RT&L Group perimeter.
FINANCING WITH ANTHILIA CAPITAL PARTNERS SGR
On August 4, 2026, RT&L arranged a €10 million financing facility with Anthilia Capital Partners SGR to support the acquisition of Land&S and provide financial flexibility to the Group. The financing has a six-and-a-half-year maturity, including an 18-month grace period.
OUTLOOK
The outlook for the remainder of the financial year remains broadly positive, both from a profitability and financial standpoint. Following the integration of the LandS Group, based on the pro forma consolidated statements as of December 31, 2025, the RT&L Group reports a Production Value of approximately €27 million and EBITDA of approximately €3.7 million.
The Group currently operates across some of Italy’s main customs hubs and, following the integration of LandS, manages approximately 8% of the TEU volumes cleared through customs at national ports.
Against this backdrop, the Group’s development strategy combines organic growth and growth through acquisitions, with the aim of consolidating its positioning across its various business segments.
- Organic growth in Project Cargo: the Group intends to continue developing the Business Line by leveraging its specialist expertise, experience in managing high value-added projects and operational flexibility. The international environment and new investments in energy security and infrastructure represent potential support for demand for project cargo and chartering services.
- External growth in Customs Brokerage: RT&L is continuing the consolidation process initiated with the acquisition of Land&S, with the objective of further strengthening its position among independent Customs Brokerage operators nationwide. In this context, the Group will assess further expansion opportunities, with particular attention to the Adriatic area and strategic positions at inland and border customs offices.
DOCUMENTATION
The Consolidated Half-Year Financial Report as of June 30, 2026 will be made available to the public within the terms and according to the procedures provided for by the Euronext Growth Milan Issuers’ Regulation, on www.rtlproject.com, under Investor Relations > Financial Statements and Reports, as well as on www.borsaitaliana.it, under Shares > Documents.
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For the dissemination of regulated information, the Issuer uses the 1INFO dissemination system (www.1info.it) managed by Computershare S.p.A., with registered office in Via Lorenzo Mascheroni 19, Milan.
This press release is available on www.rtlproject.com, under Investor Relations > Press Releases, and on www.1info.it.
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RT&L S.p.A. is the Italian company at the head of the RT&L Group, specialising in international logistics and freight forwarding solutions, with an established presence across the main strategic global markets. The Group provides customised services for the management of goods and complex projects, ensuring a flexible and high value-added approach. The Group’s activities are organised into three main Business Lines: Customs Brokerage, Project Cargo & Chartering, and General Cargo. In the 2025 financial year, on a pro forma basis, the Group generated a Value of Production of Euro 10.6 million and an EBITDA of Euro 2.7 million. Net Financial Position was cash positive at Euro 5.3 million, while Shareholders’ Equity amounted to Euro 14 million.
Contacts
Issuer
RT&L | Investor Relations Manager | Eleonora Bonifazio | investor.relations@rtlproject.com | T: 010 4717199 | via Bacigalupo 4, 16122 Genova, Italy
Euronext Growth Advisor & Specialist
Integrae SIM | info@integraesim.it | T: +39 02 80506160 | Piazza Castello 24, 20121 Milano
