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Biesse

Investor Presentation • Oct 20, 2015

4501_rns_2015-10-20_bdc06ce4-b0d3-4f34-aec8-4e47c52ca40a.pdf

Investor Presentation

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Geneva, October 2015

Biesse Group

Biesse Group is a global leader in the technology for processing wood, glass, stone, plastic, advanced materials and metal.

Founded in Pesaro in 1969 by Giancarlo Selci, the company has been listed on the Stock Exchange (STAR segment) since June 2001.

Innovation is our driving force

Innovation is the driving force in the way we do business, continuously striving for excellence to support our customers' competitiveness.

We innovate to produce the most widely-sold processing centres in the world.

We innovate to introduce new technology standards to the market.

We innovate to design production lines and systems for large enterprises.

We innovate to develop solutions and software programs to facilitate our customers' day-to-day activities.

Innovation is hard-wired in our DNA. Past, present and future.

worldwide distribution – direct presence

Biesse

Since 1969

Specialised in the woodworking segment. Solutions for joiners and large furniture, windows, doors and wood building components manufacturers.

Intermac

Since 1987

Specialised in the glassand stone processing sector.Solutions for the flatglass and stoneprocessing industry and for the furniture, construction and automotive industry.

Today

Is one of the mostprestigious brands in thissector.

Technological independence

Mechatronics

Biesse Group directly designs and manufactures all high-tech components for its machines.

Thanks to a dedicated business unit specialised in Mechatronics, it manufactures key components to guarantee high performance and competitive advantage to its customers.

Cutting-edge

Diamut creates customised diamond and binder mixes tools developed and field-tested on the basis of customers requirements.

Using high-tech tools, it is possible to process any material, from stone through to concrete, ceramic, glass and manmade materials.

SCA Indústria de Móveis, Brazil 17

2015 ongoing main highlights(world fairs-network-show rooms)

fromHannover -through Las Vegas- to Pesaro

  • LIGNA – Hannover May 11-15 :Biesse exhibition area had around 96,000. partecipants with a record increase (+63%) of orders intake(vs 2013 edition)
  • AWFS– Las Vegas:July 22-25 : record orders intake with more than 1,000. partecipants
  • InsideBiesse– Pesaro October 15-17 : in-house event (5,000 s.m. wood showroom) to demonstrate software & automation evolutions

strenghtheningof the Group foreign structure

  • •Turkey: acquisition of the 80% of the former main turkish distributor Nury Baylar to create the BiesseTurkiye subsidiary
  • •Turkey: strong cooperation with the turkish local partners to improve sales, distribution and service
  • •Turkey: "the land of furniture" located in a strategic area to connect the Mediterranean countriesand those in the Middle East

show rooms& buildings

•newbuildings: Kuala Lumpur – Charlotte (N.C.)

•new show rooms: Los Angeles – Kuala Lumpur – Sydney – China - Brazil (Intermac) to rise the existing ones ( nr. 13 in total) all over the world

Biesse

"..show them Inside.."

dedicated and large show rooms in the mostimportant countries

27

•IH 2015 : Group orders intake+13%(vs the same period 2014)

•IH 2015 :Group backlog June 2015+29.5%(vs the same period 2014)

•September update: orders intake+12.9%(vs the same period 2014)

orders backlog breakdown by type & destination(company evaluation)

Sales breakdown by country

Sales breakdown by division

IH 2015

%

IH 2014

employees breakdown by destination

Ju
2
0
1
5
ne		 2
0
1
4		 2
0
1
3		 2
0
1
2		 2
0
1
1		 2
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0
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ing
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m
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r
%		 1,
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1
7
5
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4
%		 1,
2
6
5
4
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%		 1,
2
5
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6
%		 9
6
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4
1
%
ice
f
les
& a
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se
rv
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%		 6
5
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%		 6
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8
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R
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%		 3
6
6
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%		 3
6
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2
%		 3
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8
1
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1
6
1
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%		 2
9
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1
2
%
les
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ing
& m
t
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ar
%		 4
5
3
1
5.
4
%		 4
3
9
1
5
%		 3
5
1
1
3
%		 3
6
4
1
3
%		 3
6
1
1
3
%		 3
4
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1
4
%
&
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a
%		 2
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%		 2
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9
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3
9
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2
9
%
l
I
t
a
y
%		 1,
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5
6
%		 1,
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5
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%		 1,
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7
5
7
%		 1,
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%		 1,
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%		 1,
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%		 1,
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%		 1,
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9
%		 7
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8
3
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%
O
T
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A
L		 2
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4
7
*
,		 2
8
8
1
,		 2
6
9
5
,		 2
7
8
2
,		 2
7
3
7
,		 2
3
6
8
,

*without temporary workers

Shareholders breakdown

Fromtri-band offer to dual strategy

M d
t
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– l
i
*
t
p
a
s
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–
–		 (
)
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D


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(
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–		 (
l
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S
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-
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a
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e		 39

More network

  • subsidiaries & trade channel development, increased headcount for foreign subsidiaries (salespeople & engineers), enhanced training and expertise development of Latin America sales network /manufacturing (Brazil) and of Asia sales network development of overseas manufacturing (India and China) group marketing & communications

More discipline

  • control non-strategic structural costs
  • pay-off for software upgrades (financial incentive to upgrade)
  • tight control of operating net working capital
  • product reliability/quality as a key factor for the reduction of collection days (DSO ratio)
  • increase organic cashflow, reduce net debt and pay regular dividends

financialsordersmarket shares

export share of consolidated revenues

subsidiaries: guidelines

  • • invest in human resources and capabilities as growth drivers (network & technology)
  • • transform the management approach from EBIT-driven to EBIT-consciuos >>> focus on market share and growth
  • • improveafter-sales service quality to gain customers' trust
  • • enhancesales and marketing integration

45

trade channel: guidelines

  • • consolidate market share for cutting, edgebanding and drilling for the top of the market range
  • • hire specialised staff and dedicated (resident) key account managers to develop line and cell sales in particular
  • • focus on "growth" customers target group in the medium-high range segment, with a focus on "productiong upgrade"
  • • strenghten the dealer network for the "stand-alone machine range" (salespeople, engineers, service engineers) to increase the integration with"made in Biesse" products manufactured in China and India
  • • monitor discount policies to safeguard sales margin, increasing theperception of the "business offer system" and preventing price conflicts

consolidated group turnover

consolidated P&L: main items

ln
€
/m		 2
0
1
3		 2
0
1
4		 2
0
1
5e		 2
0
1
6e		 2
0
1
7e
l
N
t
e
s
a
e
s		 3
7
8,
4		 4
2
7,
1		 4
7
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4,
1		 5
4
0,
1
f
C
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l
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g
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s
o		 1
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6,
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8
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1		 2
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5		 2
1
0,
5
b
L
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a
o
u
r
c
o
s		 1
1
2,
7		 1
2
8,
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4
2,
0		 1
5
1,
0		 1
5
8,
6
h
d
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r
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a		 8
1,
4		 8
9,
7		 9
7,
8		 9
9,
4		 1
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1,
9
E
B
I
T
D
A		 3
0,
9		 0,
9
4
*		 2,
8
5		 6
3,
7		 0,
7
7
E
B
I
T		 1
5,
1		 2
6,
5
**		 3
6,
0		 4
7,
0		 5
4,
0

*before non-recurring items for 1.3 euro mln.

** before non-recurring items for 1.7 euro mln.

operating net working capital

€
/m		 2
0
3
1		 2
0
1
4		 2
0
1
5e		 2
0
6e
1		 2
0
1
7e
i
t
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v
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o
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le
%
t
ov
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r
ne
s
a
s		 8
6.
3
2
2.
8
%		 9
8.
1
2
3.
0
%		 1
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7.
5
2
2.
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%		 1
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6
2
2.
1
%		 1
1
7.
7
2
1.
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%
d
i
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%
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ov
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s		 7
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%		 8
0,
7
1
8.
9
%		 9
0.
0
1
8.
8
%		 9
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0
1
8.
5
%		 1
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0.
0
1
8.
5
%
d
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le
%
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9.
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%		 1
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8
%		 1
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5.
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2
8.
2
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2
7.
2
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0
2
6.
8
%
i
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a
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k
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w
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r
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a		 5
1.
4		 5
5.
6		 6
2.
5		 6
8.
6		 7
2.
7
g
p
le
%
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ov
e
r
ne
s
a
s		 1
3.
6
%		 1
3.
0
%		 1
3.
1
%		 1
3.
3
%		 1
3.
5
%

cashflow– net debt

ln
€
/
m		 2
0
1
3		 2
0
1
4		 2
0
1
5
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0
1
6
e		 2
0
1
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8
%		 3
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3
9.
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6.
8
%		 1.
4
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8.
1
%		 8.
4
5
9.
0
%
i
t
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s
m
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s
v
l
%
t
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s
a
e
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9 5.
9.
2
%		 -2
8 4.
0.
9
%		 -2
2.
7
4.
7
%		 -1
5.
4
3.
0
%		 -1
5.
4
2.
9
%
f
h
f
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a
s
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l
%
t
o
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r
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2.
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8.
5
%		 1
7.
5
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%		 9.
6
2.
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0
5.
1
%		 3
3.
1
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1
%
d
i
i
d
d
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n
s		 -4
8		 -9
8
0.
3
6 p
er s
ha
re		 -9
8
0.
3
6 p
er s
ha
re		 -9
8
ha
0.
3
6 p
er
s
re
d
l
d
b
t
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7		 -0
2		 6.
2
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3.
3
d
b
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t
(
f
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)
t
p
os		 -2
3.
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-1
1.		 -1
1.
4		 9
4.
+		 2
8.
2
+

added value

ebitda

ebit

labour cost

capex + capitalized R&S

operating net working capital €/MIL

receivables – payables - inventories€/MIL

disclaimer

    • This presentation has been prepared by Biesse S.p.A. for information purposes only and for use in presentations of the Group's results andstrategies.
    • For further details on the Biesse S.p.A.. reference should be made to publicly available information. including the Quarterly Reports, the HalfAnnual Report, the Annual Reports and the Three Years Business Plan.
    • Statements contained in this presentation, particularly the ones regarding any Biesse S.p.A. possible or assumed future performance, (business plan) are or may be forward looking statements and in this respect they involve some risks and uncertainties.
    • 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 berelied upon in connection with any contract or commitment whatsoever.
    • By attending the presentation you agree to be bound by the foregoing terms.

plastics and advancedmaterials*

assumptions

• Leveraging Biesse CNC machine design know-how•Leveraging Biesse sales network and reputation on the market

Target

  • • Penetrating the plastics and advanced materials sectors. Global market size estimated at 21 bn Euro.
  • • Cutting, milling and moulding machinery. Global market size estimated at 2,5 bn Euro.
  • estimated turnover for the first three years:

2
0
1
5
t
u
r
n
o
v
e
r		 (
)
h
d
f
h
f
i
h
l
€
3,
0
0
0,
0
0
0
9
€
1.
8
7
t
t
t
t
t
a
e
e
n
o
e
r
s
m
o
n
s
m
n

2
0
1
6
t
u
r
n
o
v
e
r		 €
5,
0
0
0,
0
0
0

2
0
1
7
t
u
r
n
o
v
e
r		 €
1
0,
0
0
0,
0
0
0

Main world competitors plastic - advancedmaterial

Plastics and advanced materials: CNC

Plastics and advanced materials:CNC Rover B

Plastics and advanced materials: water jet

68

sectors:

  • technicals components
  • composites
  • foam
  • visual communications

70

metal

assumptions

• Leveraging HSD know know-how and excellence in designin how designing electrospindles an g and electroheads for machine tools (metal, alloy and composite materials)

•Leveraging HSD sales network and market reputation

target

  • • Market share increase - growth in the metal sector (in 2014 , total turnover of 2.5 m Euro with limited product range offering)
  • •Estimated size of targetable market 120 m Euro.
  • •Target market share (wood, plastic, aluminium, composite materials 60%)
  • •Estimate size of targetable market 280 m Euro.
  • •HSD share

2
0
1
5
t
u
r
n
o
v
e
r		 (
)
f
l
k
€
5,
6
0
0,
0
0
0
2
%
t
t
o
m
e
a
m
a
r
e

2
0
1
6
t
u
r
n
o
v
e
r		 (
)
f
l
k
€
8,
4
0
0,
0
0
0
3
%
t
t
o
m
e
a
m
a
r
e

2
0
1
7
t
u
r
n
o
v
e
r		 (
)
f
l
k
€
1
1,
2
0
0,
0
0
0
4
%
t
t
o
m
e
a
m
a
r
e

new metal markets: automotive, aerospace and medical

metal

tapping centre machines

  • automotive
  • aerospace
  • energy

-

marine

metal

Gantry-type high-speed milling machines

  • automotive
  • aerospace
  • energy
  • marine

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