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Elica
Delisting Announcement • Jul 1, 2025
4217_iss_2025-07-01_2e391bf8-3198-496c-a099-eb1f61f191d6.pdf
Delisting Announcement
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Investor Rela5ons Elica S.p.A.:
Francesca Cocco Lerxi ConsulUng – Investor RelaUons T +39 (0)732 610 4205
E-mail: [email protected]
Elica S.p.A.:
Alice Casadio Corporate & Internal CommunicaUon E-mail: [email protected]
Press Office: Havas PR
ValenUna Burlando M +39 335.6182360 [email protected] Giulia Bertelli M +39 340.1453906 [email protected]
ELICA TRANSFORMS ITS CHINESE SUBSIDIARY INTO A STRATEGIC SOURCING HUB AND ACQUIRES 100%
EXPECTED ANNUAL BENEFIT OF APPROXIMATELY €1 MILLION
Fabriano, July 1, 2025 – Elica S.p.A. ("the Company") announces it has completed the acquisi2on of the remaining 0.56% of the share capital of Elica Home Appliances (Zhejiang) Co., LTD ("PuBan") from FUJI Industrial Co., LTD ("Fuji"), already Elica's partner in the Japanese JV Ariafina. The transac2on is part of a broader plan to transform the Chinese company into a strategic sourcing and produc2on hub for Group companies only, suppor2ng the development strategy of the Cooking business in EMEA and direct expansion into the North American market, which remain top investment priori2es for 2025–2027.
"With this opera9on, we complete a process started in 2021 with the turnaround of our presence in China, which brought Pu9an back to break-even aEer years of losses. The decision to acquire 100% of the capital and redefine its strategic role now allows us to fully leverage the local industrial infrastructure, turning it into a sourcing hub, aligned with the Group's needs". Stated Giulio Cocci, CEO of Elica S.p.A.
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"Pu9an will focus on the procurement of components and products, suppor9ng our ranges for Europe and North America. This choice improves opera9onal efficiency, frees up resources, and strengthens our focus on key growth assets". Added Luca Barboni, Managing Director of Elica S.p.A.'s Cooking Division.
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A New Role for Pu-an: Strategic Sourcing and Opera-onal Efficiency
Pu2an, successfully restructured between 2021 and 2022, has recently achieved break-even results.
Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italia T. +39 0732 6101 F. +39 0732 610249 Pec [email protected] Codice SDI - Y1NM1XC
CODICE FISCALE REGISTRO IMPRESE AN 00096570429 CAPITALE SOCIALE 12.644.560 INTERAMENTE VERSATO
AN ISO 9001 ISO 14001 ISO 45001 CERTIFIED COMPANY elica.com
However, considering local compe22ve dynamics, the complex geopoli2cal landscape, high service costs in the Chinese market, and a strategic focus on other geographic areas, Elica has decided to redefine Pu2an's role by transforming it into a specialized sourcing hub.
The project includes:
- Discon2nuing sales ac2vi2es under the PUTI and ELICA brands in China and implemen2ng organiza2onal restructuring;
- Sourcing components and finished products to complement offerings in Europe and North America;
- Maintaining limited local produc2on for specific product families to complete the EMEA range.
This transformaBon is expected to generate a posiBve annual contribuBon of about €1 million.
Deal Details
With the transac2on signed today, Elica has acquired from Fuji Industrial Co., Ltd ("Fuji") the remaining 0.56% of Pu2an's share capital, thus obtaining full control.
The agreed price equals the original amount paid by Fuji upon entering Pu2an in 2012, Euro 1,997,802.78—and aligns with ini2al agreements and the JV's course, which has been autonomously managed by Elica, including recapitaliza2on ac2vi2es. The amount reflects a balanced solu2on considering each party's role and underlying collabora2on terms.
Payment will occur in two tranches: a first installment of Euro 1,0 million will be paid by the end of July 2025, and the remainder in January 2026.
The acquisi2on is fully funded through internal resources and fits within Elica's interna2onal structure op2miza2on plan. Comple2on is subject to approval by Chinese authori2es and related administra2ve formali2es, expected by July 2025.
The strategic partnership with Fuji con2nues in Japan through the Ariafina brand, a leader in the premium kitchen ven2la2on segment.
Key Financial Data for Pu-an (in euro million, 2018–2024)
| M€ | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|
| REVENUES | 15.7 | 13.2 | 10.3 | 10.2 | 11.1 | 9.8 | 8.6 |
| EBITDA | 0.3 | 0.4 | -1.1 | 1.2 | 0.2 | 1.3 | 0.7 |
| EBIT | -1.5 | -1.2 | -4.2 | 0.5 | -0.5 | 0.6 | 0.1 |
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Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italia T. +39 0732 6101 F. +39 0732 610249 Pec [email protected] Codice SDI - Y1NM1XC
CODICE FISCALE REGISTRO IMPRESE AN 00096570429 CAPITALE SOCIALE 12.644.560 INTERAMENTE VERSATO
AN ISO 9001 ISO 14001 ISO 45001 CERTIFIED COMPANY elica.com
Elica, Italian company standing at the forefront of cooking appliance produc9on and design, a global leader in kitchen extrac9on systems with over 50 years of history. European major player in the produc9on of electric motors for household appliances and hea9ng boilers. 2,600 staff employed in its Fabriano headquarters and in its seven produc9on sites in Italy, Poland, Mexico and China: these are Elica's figures, successfully achieved under the constant guidance of the company President Francesco Casoli. Results driven by corporate values that have always inspired every single project, product and ac9vity: design that meets aesthe9cs and performance for an extraordinary cooking experience, art des9ned as a model for crea9ve processes and working methods, and innova9on to support technological solu9ons capable of enhancing product func9onality.
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Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano (AN) - Italia T. +39 0732 6101 F. +39 0732 610249 Pec [email protected] Codice SDI - Y1NM1XC
CODICE FISCALE REGISTRO IMPRESE AN 00096570429 CAPITALE SOCIALE 12.644.560 INTERAMENTE VERSATO
AN ISO 9001 ISO 14001 ISO 45001 CERTIFIED COMPANY elica.com