Biesse

Business and Financial Review • Dec 20, 2019

Refocusing of the strategy in China

Pesaro, 20 December 2019 - The Biesse Board of Directors -held today in Pesaro- analyzed the Chinese demand evolution, even in consideration of the recent tensions and the political-economic international context.

The Biesse B.o.D. expressed his will to refocus his own strategy in China, approving initiatives to modify the organizational structure for the asian country, first country for the world furniture production. This new Chinese structure provides the reinforcement of the existing sales team (Biesse Trading Shanghai), that will be even more addressed to meet any medium and large size key accounts needs, in their turn always more oriented towards the top of the gamma, integrated solutions, connected and digitalized. In order to meet this trend, this new organizational structure will use, in particular, the production sites based in Italy and India both, Group productions sites of excellence to create automated technological solutions, with excellent knowhow and state of the art processes, significantly reducing the Chinese production (originally oriented to the entry-level segment).

Regarding this industrial decision, the positive accounting effects will be perceptible already from the 2020, while a restructuring fund in a range of Euro 3-5 mln. has been provided for this year.

BIESSE S.p.A. - Biesse Group is a global leader in technology for processing wood, glass, stone, plastic, and metal. It designs, manufactures and distributes machines, integrated systems and software for manufacturers of furniture, door/window frames and components for the construction, ship-building and aerospace industries. It invests an average of more €14 million per year in R&D, boasting over 200 registered patents. The company operates through 12 industrial sites, 39 branches, and 300 agents and selected dealers, exporting 90% of its production. Its customers include some of the most prestigious names in Italian and international design. Founded in Pesaro in 1969 by Giancarlo Selci, Biesse SpA has been listed in the STAR segment of the Italian Stock Exchange since June 2001. More than 4,000 the employees today in its facilities (production & distribution) based in Pesaro, Gradara, Padova, Villafranca (VR), Thiene (VI), Alzate Brianza (CO), Bangalore, Dongguan and in its branches/representative offices in Europe, North America, Latin America, the Middle & Far East, Asia and Oceania.

Alberto Amurri IR & Financial Manager Biesse S.p.A. T: +39 0721439107 | +39 335 1219556 www.biessegroup.com, sezione Investor Relations alberto.amurri@biesse.com