Elica

Investor Presentation • Oct 6, 2016

STAR Conference

6 th October 2016, London

Elica Corporation

2' & 3' Player produce respectively 25% & 50% less than Elica

Unique world wide player

ELICA CORPORATION INDUSTRIAL SITES: 8

Consolidated Net Sales by Geography

Volume Data Cooker Hoods Market Scenario

* Elica Group Estimates

	FY'15	H1'16
Western Europe	1.9%	3.8%
Eastern Europe (including CIS)	(9.4)%	0.5%
Europe	(3.0)%	2.4%
North America	4.6%	4.5%
Latin America	(3.3)%	(1.2)%
Americas	1.3%	2.1%
Rest of the World	(2.8)%	(1.3)%
World	(2.3)%	0.4%

LAST 6Y MARKET -6.5% LAST 6Y ELICA NET SALES +25.8%

Last 3Y Performance Development

Long Term Strategy

How To Growth?

London STAR Conference 2016

Adding New Technology to Design: STREAM LINE

Enlarge Offer Entering in the Cooking Business Segment: NIKOLATESLA Aspiration Hob

HIGH ASPIRATION CAPACITY

MAXIMUM ENERGY EFFICIENCY (A/A+)

REVOLUTION FILTERING

EASY INSTALLATION

Main Drivers of Branded Business Growth

ELICA GLOBAL BRAND ON A MULTI-BRANDS PORTFOLIO

New Sales Organization

Focus India

Fast Growing performance in the last 3Y

Born in 2010, in 2014 has reached Net Result breakeven

Today Market Leader with 30% market share*

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Main Drivers of North American Growth

NEW DECORATIVE PLATFORM

CAPACITY SATURATION

Hoods Production Capacity

ITALY POLAND MEXICO CHINA 90% 90% 95% 50% As is Action INDIA 70% Maintenance Maintenance To Invest Capex To Invest Capex Enhance

North America 2016 Market Scenario

Client and Branded Business Growth Real consumption estimated grow 3% Appliances demand expected to grow 4% High increase of Decorative hoods demand

London STAR Conference 2016

H1 2016 Key Financial Statements

H1 '16 Highlights

• Overall market demand turns to increase 0.4%, thanks also to Asian and Eastern Europe markets recovery, Western Europe and North America still growing.
• Group Net Sales increase 6.1% driven by strong Cooking business growth, due mostly to Elica brand robust performance +23.4%
• EBIT growing by 46.3%, positively influenced by rising volumes, procurement activities, enhanced industrial productivity, and FX impact
• Outstanding Managerial Working Capital performance (7.1% on Net Sales)
• Net Financial Position at 62.0 million Euro, in line with business seasonality

H1'16 Cooker Hoods Industry Unit Shipments*

Volume Data_Change % vs Y-1

	Q2 '16	H1 '16
Western Europe	4.4%	3.8%
Eastern Europe (including CIS)	2.5%	0.5%
Europe	3.6%	2.4%
North America	4.0%	4.5%
Latin America	0.0%	(1.2)%
Americas	2.4%	2.1%
Rest of the World	1.5%	(1.3)%
World	2.3%	0.4%

Elica Group Sales H1 2016

Sales Trend vs. H1 '15

• Cooking 8.2%
• Own Brands: increase 13.8%
• Client brands: increase 4.4%, growing share on Top OEM
• Electric Motors decrease (-5.6%), mainly due to heating segment trend

	Q2' 16	H1' 16
Americas	5.9%	7.7%
Europe	3.8%	5.6%
Rest of the World	9.9%	6.8%
Total	5.0%	6.1%

Elica Brand Sales H1 2016

	FY '15	H1 '16
Europe	20.4%	24.1%
Americas	55.6%	8.5%
Rest of the World	16.5%	24.0%
Total	20.9%	23.4%

H1 '16 Consolidated Income Statement

H1'16 Net Sales Net Result % EBIT % EPS* – Euro cents 215.6 7.1 3.3% 2.8 1.3% 4.20 €M EBITDA % 16.2 7.5% H1'15 203.2 4.9 2.4% 1.6 0.8% 2.21 13.4 6.6% Δ% 6.1% 46.3% 0.9 p.p. 76.2% 0.5 p.p. 90.1% 20.7% 0.9 p.p.

* EPS as at June 30 is calculated by dividing the Net Result pertaining to the Group by the number of ordinary shares outstanding, excluding treasury shares at the same data.

H1 2016 Marginality Key Drivers

Change vs. 2015

	H1 '16
Volume/Price/Mix	+++
Production efficiency	+++
Currency	+
Cost efficiency	- -
EBITDA	2.8

Net Working Capital as of June, 30

€M

	12M'13 H1 '16	12M'13 H1 '15	Δ
Trade receivables % on annualized sales	75.0 17.4%	73.5 18.1%	1.5 (0.7) p.p.
Inventories % on annualized sales	66.0 15.3%	63.9 15.7%	2.1 (0.4) p.p.
Trade payables % on annualized sales	(110.2) (25.6)%	(102.7) (25.3)%	(7.5) (0.3) p.p.
Managerial Working Capital % on annualized sales	30.8 7.1%	34.6 8.5%	(3.8) (1.4) p.p.
Short term assets & liabilities % on annualized sales	(8.7) (2.0)%	(9.6) (2.4)%	(1.0) 0.4 p.p.
Net Working Capital % on annualized sales	22.1 5.1%	25.0 6.1%	(2.8) (1.0) p.p.

Consolidated Operating Cash Flow as of June, 30 €M

	H1 '16	H1 '15
EBITDA	16.2	13.4
∆ Working Capital	0.9	1.3
Restructuring Costs Cash Out	(0.2)	(6.8)
Taxes	(3.8)	(2.3)
Others	(4.7)	(2.7)
Operating Cash Flow	8.4	2.9
Cap Ex	(12.8)	(10.1)
FOCF	(4.4)	(7.2)

* Managerial Working Capital

Disclaimer

This presentation contains forwards-looking information and statements about Elica S.p.A and its Group. Forward-looking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance.

Although the management of Elica S.p.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Elica are cautioned that forward-looking information and statements are subject to various risk and uncertainties, many of which are difficult to predict and generally beyond the control of Elica S.p.A.; that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements.

These risks and uncertainties include, but are not limited to, those contained in this presentation. Except as required by applicable law, Elica S.p.A. does not undertake any obligation to update any forward-looking information or statements.