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Biesse

Investor Presentation • Oct 12, 2021

4501_rns_2021-10-12_de4c64ea-4679-4f0d-bbeb-734ef95d8d2f.pdf

Investor Presentation

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STAR CONFERENCE 2021

VIRTUAL FALL EDITION 12 OCTOBER 2021

IH 2021 recap

EXTRACTOF THE P&L

€/m
ln		 2
0
1
F
Y
5		 2
0
1
6
F
Y		 2
0
1
F
Y
7		 2
0
1
8
F
Y		 2
0
1
9
F
Y		 2
0
2
0
F
Y		 I
H
2
0
1
9		 I
H
2
0
2
0		 I
H
2
0
2
1
l
N
t
e
s
a
e
s
1
e
a
r -
y		 5
1
9
2
1.
5
%
+		 6
1
9
1
9.
1
%
+		 6
9
0
1
1.
6
%
+		 7
4
1
7.
4
%
+		 7
0
5.
9
-4
8
%		 5
7
8.
8
-1
8.
0
%		 3
4
4
2		 2
5
6
7		 3
5
4
1
b
L
&
a
o
u
r
O
h
d
v
e
r
e
a
%		 2
5
3
4
8.
7
%		 3
0
1
4
8.
7
%		 3
3
5
4
8.
6
%		 3
5
9
4
8.
5
%		 3
5
0
4
9.
6
%		 2
8
3.
3
4
9.
0
%		 1
7
8
5
5
1.
8
%		 1
3
3
3
5
1.
9
%		 1
7
2
7
4
8.
8
%
E
B
I
T
D
A
%		 6
4
1
2.
%
4		 7
6
1
2.
3
%		 8
9
1
3.
0
%		 9
3
1
2.
%
5		 7
6.
7
1
0.
9
%		 5
6.
0
9.
%
7		 3
8
0
1
1.
0
%		 2
2
5
8.
8
%		 4
1
0
1
1.
6
%
E
B
I
T
%		 4
4
8.
4
%		 5
5
8.
9
%		 6
7
9.
7
%		 6
8
9.
1
%		 3
9.
6
5.
6
%		 1
4.
8
2.
6
%		 2
0
1
5.
8
%		 4
4
1.
7
%		 1
9
7
5.
6
%

FIRST HALF RESULTS

T
r
n
o
e
r
u
v		 E
B
I
T
D
A		 E
B
I
T
2
0
2
I
H
1		 3
5
4
1		 4
1		 1
9
7
2
0
2
0
I
H		 2
5
6
7		 2
2
5		 4
4
2
0
1
9
I
H		 3
4
4
2		 3
8		 2
0
1
I
H
2
0
1
8		 3
5
6		 4
3
5		 3
0
1
4

SALES BREAKDOWN

€/mln

6

€/mln

ORDER INTAKE BACKLOG

GROUP ORDER INTAKE& BACKLOG

9

9

274

the Group progressive order intake (first 6 months) is: + 100% vs 2020 + 28.9% vs 2019 the Group backlog is: + 29.4% vs December 2020 + 39.6% vs December 2019

€/mln

order intakebacklog

machines only

STAFF DISTRIBUTION

EMPLOYEES DISTRIBUTION

FY
20
12		 FY
20
13		 FY
20
14		 FY
20
15		 FY
20
16		 FY
20
17		 FY
20
18		 FY
20
19		 FY
20
20		 IIQ
20
21
I
T
A
L
Y
% o
f
l
tot
a
le
pe
op		 1,
6
4
6
59
%		 1,
5
4
7
57
%		 1,
6
0
5
56
%		 1,
7
8
0
56
%		 2,
0
0
9
70
%		 2,
1
7
6
57
%		 2,
4
8
3
59
%		 2,
4
1
8
62
%		 2,
3
8
3
6
3
%		 2,
3
5
6
6
1
%
O
U
T
S
I
D
E
I
T
A
L
Y
f
l
% o
tot
a
le
pe
op		 3
1,
1
6
41
%		 8
1,
1
4
43
%		 2
1,
7
6
44
%		 3
9
1,
6
44
%		 0
9
1,
6
44
%		 1,
6
7
0
43
%		 1,
7
4
4
41
%		 1,
5
0
9
38
%		 1,
3
8
0
3
6
%		 1,
5
1
9
3
9
%
O
T
T
A
L		 2,
8
2
7		 2,
9
6
5		 2,
8
8
1		 3,
1
7
6		 3,
8
6
1		 3,
8
4
6		 2
2
4,
7		 3,
9
2
7		 3
3
7
6		 3,
8
7
5

interim people at the end of June 2021: nr. 419

total number 4,294.

20
20
FY		 IIQ
20
21		 %
du
Pr
ion
ct
o		 3
2
1,
4		 3
1,
4
5		 8,
3
8
%
Se
ice
&
fte
Sa
les
A
rv
r		 9
6
2		 9
8
3		 2,
1
8
%
R
&
D		 8
4
7		 4
6
6		 -2
5
1
%
,
les
ke
Sa
&
Ma
ing
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7		 6
5
9		 3,
4
5
%
G
&
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6		 3
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2		 -8
2
9
%
,
I
T
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3
8
3		 2,
3
6
5		 -1
1
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%
,
O
U
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S
I
D
E
I
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A
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8
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1,		 9
1,
5
1		 0,
0
%
1
7
T
O
T
A
L		 3,
7
6
3		 3,
8
7
5		 2,
9
8
%

EMPLOYEES DISTRIBUTION

(without interim people)

F
Y
2
0
1
2		 F
Y
2
0
1
3		 F
Y
2
0
1
4		 F
Y
2
0
1
5		 F
Y
2
0
1
6		 F
Y
2
0
1
7		 F
Y
2
0
1
8		 F
Y
2
0
1
9		 F
Y
2
0
2
0		 I
I
Q
2
0
2
1
du
ion
Pr
t
o
c
% o
f
l pe
le
tot
a
op		 1,
2
6
4
45%		 1,
1
7
5
44%		 1,
2
0
1
42%		 1,
3
3
5
42%		 1,
4
8
2
41%		 1,
4
9
4
39%		 1,
6
2
1
38%		 1,
3
8
6
35%		 1,
3
2
4
3
%
5		 1,
4
3
5
3
%
7
ice
f
le
Se
&
A
te
rv
r
sa
% o
f
l pe
le
tot
a
op		 5
7
4
21%		 6
1
3
22%		 6
2
8
22%		 6
9
0
22%		 8
0
3
22%		 8
9
4
23%		 1,
0
0
1
24%		 9
9
2
25%		 9
2
6
2
6
%		 9
8
3
2
5
%
&
R
D
% o
f
l pe
le
tot
a
op		 3
3
8
12%		 3
2
1
12%		 3
6
1
13%		 3
8
3
13%		 4
3
6
12%		 4
7
9
12,
5%		 5
0
1
12%		 4
8
2
12%		 4
7
8
1
3
%		 4
6
6
1
2
%
les
ke
Sa
&
Ma
ing
t
r
% o
f
l pe
le
tot
a
op		 3
6
4
13%		 3
5
1
1
3
%		 4
3
9
1
5
%		 4
9
5
1
5
%		 5
8
7
1
6
%		 6
4
1
1
7
%		 7
1
5
1
7
%		 6
8
5
1
7
%		 6
3
7
%
1
7		 6
5
9
1
7
%
G
A
&
f
l pe
le
% o
tot
a
op		 2
4
2
9%		 2
3
5
9%		 2
5
2
9%		 2
7
3
9%		 3
1
0
8,
5%		 3
3
8
8,
8%		 3
8
9
9%		 3
8
2
10%		 3
6
2
1
0
%		 3
3
2
9
%
I
T
A
L
Y
f
al p
le
% o
tot
eop		 1,
6
4
6
59%		 1,
5
4
7
57%		 1,
6
0
5
56%		 1,
7
8
0
56%		 2,
0
0
9
56%		 2,
1
7
6
56%		 2,
4
8
3
59%		 2,
4
1
8
62%		 2,
3
8
3
6
3
%		 2,
3
5
6
6
1
%
O
U
T
S
I
D
E
I
T
A
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f
% o
al p
le
tot
eop		 1,
1
3
6
41%		 1,
1
4
8
43%		 1,
2
7
6
44%		 1,
3
9
6
44%		 1,
6
0
9
44%		 1,
6
7
0
44%		 1,
7
4
4
41%		 1,
5
0
9
38%		 1,
3
8
0
3
7
%		 1,
5
1
9
3
9
%
T
O
T
A
L		 2,
7
8
2		 2,
6
9
5		 2,
8
8
1		 3,
1
7
6		 3,
6
1
8		 3,
8
4
6		 4,
2
2
7		 3,
9
2
7		 3,
7
6
3		 3,
8
7
5
2
1

GROUP BUSINESS PLAN 2021-2023

WOODWORKING MACHINERY: RECOVER FROM PANDEMIC

Business Plan Woodworking Machinery market experienced a strong decrease in demand in 2020e due to Covid-19 crisis. In the period 2021-2023 the Market is expected exceed 2018 value.

In the period 2020-2023e the estimated CAGR in the reference market is approximately 9.4%.

WOODWORKING MACHINERY MARKET - (€/bln - %)

2021-2023

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

5.5

6.0

6.5

Source:CSIL, Acimall, VDMA, UCIMU, Industry Experts, Competitor public information CAGR

STRATEGY 2021-2023

In the next 3 years, Biesse's strategy will be focusing on four main directives.

Empower offering & go-to-market

  • Strengthen product portfolio
  • Accelerate services growth
  • Focused commercial development
  • Strengthen brand positioning

Enhance digital manufacturing

  • HSD & Lighthouse plant
  • Sophia & Industrial IoT

Ensure sustainable growth

  • Integrated Global Supply Chain
  • Corporate Social Responsibility Journey
    • Inspire people
    • Finance Evolution

Enable future development

  • One Company model fully operational
  • Explore additional growth opportunities

ONE COMPANY MODEL FULLY OPERATIONAL

In 2020 and 2021 the Group carried on an organization redesign project: the One Company project.

The project main objectives are:

  • Make the Group more flexible and reactive, capable of responding promptly to external stress conditions
  • Simplify internal processes to speed up business decisions
  • Place the Customer needs more and moreat the center of business decisions.

In the plan period the new model will become fully operational, fostering the growth path from the 2022.

PRODUCT STRATEGY &

DEVELOPMENT

OVERALL TARGETS

9 - 11%EBITDA margin

2021-2023 Business Plan

2023 Target Range

65 - 90EBITDA

2023 Target Range €/mln

l
N
S
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a
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s		 8
2
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t
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c
e
n
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e
o
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e
a
e
s
n
e
1
7

NET SALES

NET REVENUE - BIESSE GROUP (€/MLN)

Organic growth only

EBITDA MARGIN

EBITDA MARGIN – BIESSE GROUP (€/MLN - %)

-

NET DEBT

NET FINANCIAL POSITION – BIESSE GROUP (€/MLN)

-24 -11 4 30 25 -19 50 92 2013 2014 2015 2016 2017 2018 2019 2020 2021e 2022e 2023ePositive cash flow despite dividend payments expected from 2022 (30% of the expected net profit) dividends policy 30% of the net profit €/mln 10* *IFRS 16 Impact 72* 20

100

90

80 -

EBIT

EBIT MARGIN - BIESSE GROUP (€/MLN - %)

CAPEX PLAN

CAPEX - BIESSE GROUP (€/MLN - %)

total capex valuetotal capex % on sales

Main investments items in the plan period 2021-2023:

  • Global Footprint evolution
  • Supply Chain Digitalization
  • Digital go-to-market
  • Internal supplier empowerment
  • HSD Lighthouse plant
  • Services digitalization
  • SOPHIA Evolution
  • Finance digital evolution

IFRS impact

-

SHAREHOLDERS BREAKDOWN & B.O.D

Allianz Global Investors Gmbh

Lazard Freres Gestion

Amundi Asset Management

Goldman Sachs Asset Management

Norges Bank

Biesse Board of Directors:

  • Giancarlo Selci (Founder - President)
  • Roberto Selci (C.E.O.)
  • Massimo Potenza (co C.E.O.)
  • Alessandra Baronciani
  • Rossella Schiavini
  • Federica Ricceri
  • Ferruccio Borsani

1.52%

1.49%

1.48%

source: Reuters

EXTRAORDINARY DEAL - ACQUISITION

ACQUISITION

target: Forvet Costruzione Macchine Speciali S.p.A.

special automated machines for glass acquisition terms: 100% of the quotes

transfer to be completed the next Oct. 29th

price of the deal: around Euro 41 mln (to be definited)

terms of payment: by cash within this year

This operation, in line with Biesse Group's strategic plan, will increase the product portfolio of glass machining centres, a sector in which the Group has been present since the second half of the 1980s with Intermac brand technologies. Indeed, thanks to the introduction of Forvet S.p.A.'s proprietary technologies, the group strengthens its offer towards the high end of the market by offering highly automated, customised and unique machines and systems.

"This is a strategic acquisition that allows us to complete the range of glass machining centres with complementary industrial solutions that can be perfectly integrated with our technologies, thus offering technologically advanced customers modular lines and automated systems that can guarantee high levels of productivity and flexibility"said Roberto Selci, Biesse Group CEO.

ACQUISITION

Forvet story: Forvet S.p.A., founded in Volvera, Turin, in 1990, is a unique reference in the market for the production of automated lines that encapsulate a high level of know-how, capable of producing a complete product in a reduced space, including loading, unloading and intralogistics operations that can be customised according to customer needs.

Forvet results (amount in /000):

Net Sales 2019: € 24.784 Net Sales 2020: € 15.635

Value of Production 2019: € 25.227 Value of Production 2020: € 17.057

EBITDA 2018: € 8.622 EBITDA 2020: € 6.198

DISCLAIMER

  • This presentation has been prepared independently by Biesse S.p.A. and can be used only during meetings with investors and financial analysts. It's solely for information purposes and it may contain statements regarding future financial performances and Company's expectations
  • Even if Biesse takes care that the information contained in the document have the requirements of reliability, correctness and newness, Biesse is not responsible for the content processed by third parties and content indicated in this Document. No liability is accepted by or on behalf of Biesse for any errors, omissions or inaccuracies contained in this presentation.
  • Any forward looking statements are not guarantees of future performances and is related only of the date of this document. They are based on the Group's current state of knowledge, future expectations and projections about the future events. By their nature they are subject to inherent risks and uncertainties.
  • Further information concerning the Group results, including factors that could materially affect the Company itself (i.e. IFRS) will be included and detailed in the Financial Statement of the Group.
  • For further details on the Biesse S.p.A. reference should be made to publicly available information. including the Quarterly Reports, the Half Annual Report, the Annual Reports and the Three Years Business Plan.
  • Any reference to past performance of the Biesse S.p.A. shall not be taken as an indication of future performance.
  • This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
  • No action should be taken or omitted based on the information contained in this Document. Biesse accepts no liability for the results of any action taken on the basis of the information contained in this Document.
  • By attending the presentation you agree to be bound by the foregoing terms.
  • The User is not granted any license or right of use and therefore is not allowed to record such content – in whole or in part- on any type of media, reproduce, copy, publish and use them for any purpose without prior written permission.

biessegroup.com

Alberto Amurri Investor Relator Manager 0039 - 0721439107 0039 - 3351219556

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