Macron and its participatory business model: 112 “Macron-entrepreneurs” receive payouts equivalent to 50% of 2025 EBITDA

Macron has distributed a total amount equivalent to 50% of its 2025 EBITDA to 112 “Macron-entrepreneurs”, marking the completion of the company’s third Stock Option Plan. The initiative involved more than 25% of Macron’s workforce, with beneficiaries across several international markets, including Italy, the UK, the US and the Far East.

The payment, made in September, gives tangible form to a business model that puts people at its centre: sharing responsibility for growth and the economic benefits it generates, while recognising the dignity of work and its central role in creating value. It is a concrete way of affirming the importance of work as a driver of the company’s growth and success.

The Plans provide for settlement every three years, regardless of liquidity events such as the sale or listing of the company. Participation in the company’s results therefore follows a regular cycle linked to the development of the business.

At Macron, autonomy and decision-making are widely distributed throughout the organisation. People are encouraged to take responsibility, look beyond their own function and contribute to the company’s results with a long-term perspective. This philosophy gives rise to the concept of “Macron-entrepreneurs”: people who are encouraged to act with autonomy, take responsibility and contribute to the company as a whole. Their commitment is matched by a clear choice: to allocate part of the value generated to recognising people’s contribution, through Plans that recognise their contribution, responsibilities and professional development.

Founded in 1971 and headquartered in Bologna, Macron has grown its revenues from approximately €10 million in 2004 to €245 million in 2025, an increase of 9.4% compared with the previous year. The company expects to reach a new record high in 2026 as well. This growth has been supported by a business model focused on speed of decision-making, entrepreneurial spirit and shared responsibility.

“Macron’s growth is a collective achievement. Our business model is based on a conviction: those who contribute to creating value should be able to share in the economic results of that work. It means recognising in concrete terms the dignity of work and the importance of people in the development of the company,” comments Gianluca Pavanello, CEO of Macron.

“We ask Macron-entrepreneurs to demonstrate autonomy, responsibility and a vision that embraces the company as a whole. We want this commitment to be matched by tangible participation in the results generated. This is why our Plans are settled every three years: sharing the value created is not an occasional initiative, but part of the way we do business. In 2026, we distributed an amount equivalent to 50% of 2025 EBITDA: a result that makes this principle extremely tangible.”

The Board of Directors has already approved the fourth incentive plan, expanding current participation to more than 120 beneficiaries. Macron is therefore continuing its commitment to extending participation and strengthening the link between autonomy, shared responsibility, results and value sharing, placing the central role of work at the heart of its growth.