Biesse — Investor Presentation 2016

Apr 19, 2016

Our customers define the shape of the world, we make it possible.

April 2016

5-9 10-21 22-25 26-31 32-65 66-79 80-94 pages

Group description / Purposes & beliefs

Who / How / Where / With / We / Innovation / Reliability / Sustainability

Excellence / More revenue / More profit / More cash

Business model (production, delivery, products) / Customers

Strategy (wood, glass & stone, mechatronics)

The figures

Annex

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 Italian Stock Exchange (STAR) since June 2001. Starting from October 2015 Biesse is included in the Mid -Cap segment.

Our Beliefs

We believe in challenging standards, in thinking forward and in acting differently. Creating advanced technologies and beautifully-designed solutions is the key to transforming our beliefs into real value.

We shape our customer dreams.

6

Our Purpose

Since 1969, we have tirelessly dedicated ourselves to creating value for our customers first and foremost.

"…back when we were simply producing machines, I was talking with a dear friend, and realised that the rough, imprecise way he was working was ineffective, and above all, dangerous to his personal safety. At that moment, I recognised a need for change, and immediately understood that we could do something - we could introduce innovative new ways of working, automate processes, and above all, create safer working conditions. A new kind of machine was about to be born".

Founder and CEO

Think4ward becoming a 4.0 factory.

01 Implementing lean production in order to fully satisfy customer requirements, increasing quality and reducing waste.

Understanding sector trends and deciding when and how to invest in order to grow. 02

Finding the best solutions ahead of competitors. 03

Anticipating customers' needs.

04

9

Think 4ward

creating 4.0 factories for our customers.

Forward -thinking automation and software solutions to help our customers leverage the fourth industrial revolution.

Orders processed on the same day. Custom -designed, integrated machines. Streamlined, intelligent warehousing. Impeccable quality and simplified processes without unnecessary costs.

Meeting tomorrow's demands today.

Who we are

1.1 Group description 1.2 Our Values 1.3 Our Business Model

1.

In

We manufacture machines and components for wood, glass, stone, plastic and metal processing through specialised business units and 8 manufacturing sites in Italy and worldwide.

industrial group

1

4 business divisions

production sites

8

How

Growing investments in R&D have enabled us to create software programs that have simplified the management of CNC machines, improving our customers' processes revolutionising market standards.

more than 200 patents duly registered

Where

We support our colleagues everywhere in the world, using the most advanced management, sales and support system. Our global network enables us to be always close to our customers.

34

300

branches and representative offices

14

agents & certified dealers

We

Our Human capital.

more than

3,150

employees throughout the world (temporary workers included)

Our Values

Sustainability Excellence Reliability Innovation

Our values /

Innovation

meets creativity.

Our pillars to mastering innovation:

Customer focus Internet of Things Digital Manufacturing Industry 4.0 / Think4ward

Biesse, the perfect combination of innovation and italian creativity.

Our values /

Innovation

generates value.

Some of our leading technology solutions:

• Automatic blade change on beamsaws
• 5-axis operating unit
• Air Force System
• Twin Pusher
• bSuite software

Our values /

Reliability

to enhance trust and compliance.

Satisfied Customers

Trusted & Loyal Partners

Winning & Committed Employees

Growing & Qualified Investors

OUR MAIN PRINCIPLES

• Fairness to all stakeholders
• Mutual trust and transparency
• Unrestricted and clear communications
• Sharing of knowledge and experience

Our values /

Sustainability

to get widespread goodwill and strong reputation.

Society Environment People Regulation Financial

Only the culture of strictly adherence to good compliance can keep our Group ahead on sustainable basis.

21

for a consistent growth.

Wood

Stone

Mechatronics Metal

bSoft (software)

23 Plastic & Advanced Materials

Our values / Excellence

Our Business Model key points 1.3

We make top-quality Italian products

We deliver top-quality, dedicated solutions worldwide Knowledge Delivery Products Customers

Our Business Model / Italian creativity and knowledge district

Knowledge

On Machineries sold

Our Business Model / Global presence and network

Our Business Model / Wide offering for a wide customer base

Our Products

02

WOOD

PLASTIC

Systems

We create engineered solutions, from plant design to production, implementation, installation and maintenance

01

04

of machinery and technologies for processing wood,

Tooling

We create customized diamond and binder mixes for stone and glass processing machinery.

Machines

We design, manufacture and distribute a comprehensive range glass, stone and, in recent years, plastics.

Mechatronics

We design, manufacture and deliver high-tech mechanical and electronic components for machinery.

03

Our Business Model

Our main customers

Ikea	Lube Cucine
Howdens	Lago
Masonite	Fiam
Colombini Group	Onsrud
Veneta Cucine	Heian
Roland Gerling

Saint Gobain Pilkington Fidia Glaströsch Cosentino Sauder

TYPE OF CUSTOMERS

Joiners

Makers of large furniture items

Wood building companies and manufacturers

• Glass workers Marble workers
• Windows Furniture
• Windows and doors
• Kitchen companies and manufacturers
• Wood machinery
• producers
• Aluminum
• machinery
• producers
• Plastic machinery producers
• Metal machinery producers

Evolution Journey

• 2.1 + Products
• 2.2 + Solutions
• 2.3 + Customers

Evolution journey

We reinforced our industry -leading position, increasing our market share in the actual products segment.

We successfully introduced electrospindles and electroheads for machine tools for metals.

We enhanced our product offering and became more competitive on the market.

We successfully transferred our product knowledge to the new business unit and achieved great results.

Wood Division Estimated CAGR 2015 -2018 4 % Market Estimated CAGR 2015 -2018 10 % Mechatronics Unit Estimated CAGR 2015 -2018 5 % Market Estimated CAGR 2015 -2018 12 G&S Division Estimated CAGR 2015 -2018 7 % Market Estimated CAGR 2015 -2018 78 % Plastic & A.M. Division Estimated

CAGR 2015

-2018

+ Products Wood

Targets

Our strategy in action Think

Enhance R&D for innovative solutions (technologies and new materials)

completion of the range of machines

0 2

0

1

0 3

Improve product reliability, renew existing 4ward product range

Expand the product range: renovation and

9 %

Wood Division Estimated CAGR 2015 -2018

Market Estimated CAGR 2015 -2018

+ Products Wood

Market

38

Estimated worldwide market share 2015

Market Size

Whole market potential

€3.3bn

2015

Outlook

Looking forward, we expect the market to continue grow at about 3.7 times the reference sector average growth rate.

38

Competitors

The competition in the current market is consolidated. We are the second leading company in the sector. Main competitors are located in Germany and in Italy. The most important of these are HOMAG (29% estimated market share) and SCM (7% estimated market share).

CUSTOMERS

+ Products Glass & Stone

Strategy in actions Think4ward

Targets

01

02

Expand our offering in new product segments

the glass sector

Maintain and reinforce our leading position in

03

Increase our market share in the stone segment, reinforcing our leadership in this area

12%

G&S Division Estimated CAGR 2015-2018

7%

Market Estimated CAGR 2015-2018

+ Products Glass

Outlook

In the near future, we anticipate that the glass processing market will grow at about 3.7 times the reference sector average growth rate.

Competitors .

We are currently the industry leader in the glass processing market in which we operate. Main competitors are located in Italy and they are CMS, Bottero, and Hegla.

CUSTOMERS

Ciudad de las Artes y las Ciencias (Valencia)

+ Products Stone

Market

Estimated worldwide market share 2015

Whole market potential €600mln

Outlook

Looking to the future, as the in the wood sector, we expect the market to continue to grow at about 3.7 times the reference sector average growth rate.

Competitors

The competition in the current market is consolidated. We are among the leading companies in the sector and we intend to reinforce our positioning. Main competitors are located in France and in Italy and they are CMS, Breton and Thibaut.

CUSTOMERS

"Bicefalo" marble sculpture Marmi Fontanelli

Strategy in actions Think4ward Maintain and reinforce our leading positioning in the Wood- Aluminum- Plastic (WAP) sector

Reinforce our partnership with our current

02

03

01

customers

Diversify into other sectors, continuing to expand our presence in the metal sector and replicating our WAP standards of excellence in new sectors

10%

Mechatronics Unit Estimated CAGR 2015-2018

5%

Market Estimated CAGR 2015-2018

Targets

Strategy in numbers Focus Metal Sector

Targets

5,6 mln/€

2015 target

15 mln/€ 2018 target in metal sector

2015e Result +19,7%

6,7 mln/€

on target

Our expansion in the metal segment has shown that we have the capabilities to successfully extend our areas of competence and compete in new sectors.

We will continue to invest in R&D in order to identity new product expansion opportunities in other sectors.

Estimated

2015

share 2015

worldwide market

Market Size

Whole market potential (WAP + Metal + G&S)

€1.1bn

Outlook

In the near future, we anticipate that the spindles market will grow in line with the reference markets of WAP and metal working machines.

Competitors

CUSTOMERS

Our mechatronics division is currently the leader in the WAP (Wood Advanced Materials*, Plastic) spindles sector. We recently entered the metal spindles sector. Our main competitors are from Germany. They are KESSLER, IBAG, GMN, WEISS (Siemens), FISHER PRECISE and STEP TEC.

*Advanced

Markets materials

Carbon Fiber Foam

Composite

Alluminium

Titanium

44

Competitive Advantage Offering structure

Offering

Biesse Group directly designs and manufactures all high-tech components for its machines. Through our Mechatronics Unit, we guarantee our technological independence.

The vocation of our Mechatronics Unit is continuous innovation. Until a few years ago, our business activity was focused on creating and selling mechanical components.

Now, we create and sell smart devices and smart mechanical components

Our devices interact with the machinery to support predictive logics with regard to functionality, performance and preventive maintenance of the machines, and of the factory as a whole.

Our product reliability,

our technologically-advanced offering, our ability to introduce innovation into the market. These are our Competitive Advantages.

Sector

Offering structure

Diversification

Our Mechatronics Division is the trailblazer for expansion into new sectors.

We successfully entered the advanced materials* & plastic processing machinery sector, thanks to our dedication to constant innovation. and diversifying our business. Offering

Through our capability to create top-quality solutions, we also successfully entered the metal electro-spindles sector.

Our Mechatronics Division is the key to breaking into new sectors

Composite

Alluminium

Carbon Fiber

*Advanced materials

Foam

Titanium

Offering structure Product Innovation

Offering

We combined 2 Axis Heads and Direct Drive Technology

• improved working precision due to the absence of mechanical stress extended reliability. ⁰¹
• improved positioning speed

We will introduce new electro spindles models to enhance our offering in the metal sector

• Medium size spindles
• Large size spindles

+ Products Advanced Materials*

Strategy in actions Think4ward

*Advanced materials

Targets Carbon Fiber Foam

Composite

Alluminium

Titanium

48

3 mln/€ 2015 target +16,7% On target 3,5 mln/€ 2015e result

Our successful entry into the plastic & advanced materials sector confirms our capability to diversify into new sectors through our innovative Mechatronics Division and our consolidated expertise.

20 mln/€

2018e target

In the future, we will expand our product offering in order to meet the needs of the entire market.

+ Products Advanced Materials*

Markets Estimated worldwide market share 2015 2015 Plastic Market Size Whole market potential 0.8 bln 0.9 % *Advanced materials Carbon Fiber Foam Composite

Alluminium Titanium

€

Outlook

In the near future, we expect that the market of Advanced Materials* processing where we insist will double around the GDP grow rate.

Competitors

The plastic processing machinery market is highly fragmented worldwide and there are not the same number of companies as in the woodworking machines sector (CMS Industrie - Multicam - Flow Corporation).

CUSTOMERS

Our strategy in action

We are continually strengthening our services worldwide. We continue to invest in the training of our engineers, in order improve the level of service we deliver

We have successfully adopted a Lean Production approach, and have implemented an order management system which covers each stage, from sales to installation.

We have successfully developed new tools to satisfy the majority of our customers' software requirements with a single, integrated solution.

+ Solutions

Our new targets

To evolve to Service 2.0: from a "break and fix" approach to a predictive service

To increase our market share in the system solutions market.

To begin to profit from software fees on a yearly basis.

+ Solutions Service

Strategy in actions Think 4ward Our network supports our customers worldwide. Through Biesse service and Biesse parts, we offer technical services and machine/component spares to businesses anywhere in the world on -site, as well as on -line - 24/7.

Our Service will evolve to Service 2.0

• Proactivity: leave "break -and -fix" service logics in the past and move onto predictive services
• Spare Parts: encourage a 24/7 assistance / no down -time approach with maintenance contracts
• Maintain excellence in terms of service levels

18,5 %

2018 Target incidence on Net Sales

Targets

+ Solutions Systems

Targets

Strategy in actions Think 4ward We want to reinforce our positioning and increase our market share, becoming a leading company in the engineering solutions sector.

65 mln/ €

2015e results

2018 Target incidence on Machine Sales

20

%

+ Solutions Systems

Strategy

Biesse Systems is a team of sector experts, capable of understanding and anticipating business needs, who work with the customer from inception through to system installation and testing.

From engineering to the manufacturing, from the installation to the after-sales support, we are able to realize complete solutions for our Clients.

01 Boost our sales and after-sales approach

02

03

Ensure dedicated and highly-specialized services with key accounts for 360-degree customer management

Enhancing our offering of flexible systems

Offering

+ Solutions bSuite

Targets

Offering structure Think 4ward

Consolidation, reliability and rationalization. Superior technology for creating synergies in machine automation.

Technological superiority and sustainability. Ensuring advanced, sustainable know -how in order to develop intelligent machines.

0 3

0

0

1

2

Simple, smart software. Meeting growing technological needs through application software and smart apps.

0 4 Business software. Business -oriented software to enhance collaboration with our customers' businesses.

0,5 Potential Software Fees contribution to Net Sales % ⁵⁵

+ Solutions bSuite

Offering structure bSuite Platform

bPlatform Challenging market standards. furniture design. Offering

bWindows is a seamlessly integrated plug -in for the planning of windows/door frames.

-in,

bSolid is a 3D cad

bEdge is a bSuite plug

edgebanding planning.

seamlessly integrated for

bNest is the bSuite plugin

cam software

application

bProcess is the tool that allows in a simple and intuitive way to organize production for a cell of machines.

bCabinet is the bSuite plugin for

Biesse Customer Experience 2.3

Our strategy in action

Our clients are makers:

companies that build houses, companies that build furniture, companies that build windows,

companies that build the shape of the world.

+ BCX Close to our customers

We want to strengthen our dealer network - this is crucial in helping us to engage our clients. 58

BCx

Trade

Continue the Trade Markets Investments towards the "Roadmap to success".

Increase market share

02

01

Hire dedicated resident key account managers & skilled sales force

03

Focus on growing customers through a production upgrade

Strengthen the dealer network and increase the integration

BCx We will continue to expand our global presence - we want to be close to our customers. Subsidiary + BCX Close to our customers

Continue to promote the "Roadmap to success" for our subsidiaries: moving from reactive to proactive, fostering entrepreneurship at all levels, defining market and customer -oriented strategies

Create 3 new Clusters of business:

• DACH (Germany -Austria -Switzerland)
• Turkey/ Middle East
• China/Far East Asia

New more "aggressive" Sales Matrix

0 4

0

0

0

1

2

3

Invest in human resources and capabilities as growth drivers

Overseas + BCX Close to our customers

The production abroad is constantly growing in India & China.

BCx

We want to continue increase our production 01 in the Chinese and Indian facilities.

02

Local4Global: we want to increase the percentage of production exported worldwide from Asian production sites.

2018 Target 20% production abroad quote

60

+ BCX Feeling the products

In order to create a 360-degree experience for our customers worldwide, we have designed a roadmap that will help us to increase brand awareness, engage our customers and improve the Biesse customer experience.

BCx

Biesse Headquarter Showroom 2.0

Continue to improve our Showroom, increase the number of events, demos and "Insider"-dedicated events held.

Worldwide Showroom plan

Improve and strengthen existing showroom events and measure their impact on the local market.

6.600m2

Headquarters Showrooms (wood + glass & stone) 18.000m2

Showrooms worldwide

61

+ BCX Feeling the products

We want our customers to see how our products work. We want our customers to touch our products, to understand how they can satisfy their needs. We want our customers to live the Biesse Experience.

BCx

Main fairs and events worldwide

We must be forever present in our sector, and ensure that we are the best.

Dedicated in-house events

Increase the number of events on specific materials for specific audiences ("Made In Biesse")

We want to show our incredible solutions around the world.

Fairs and exhibits worldwide

+ BCX Feeling the products

By demonstrating the perfect functionality of our products and engaging our customers through training and events, we will spread the Biesse Experience worldwide.

BCx

Regional Marketing

Nominating "Best Dealers" and "Best Customers" is another way to engage our entire customer base and show how our products work locally through trade shows, dealer openhouse events and Tech Tour plan.

Academy Days

Customers and dealers taking part in training on Biesse Products, and how they can exploit the full potential of these.

We want to engage our customers with dedicated events on specific materials.

Demos per Year

+ BCX Total Care

Our Total Care package not only contributes to building long-term relationships with our customers - it also exceeds the standards of the packages offered within the industries in which we operate.

Total Care is a multi-year Warranty and Financial Plan currently testing in UK and Canada.

Customer Experience 01

Total Care is definitely not a 'marketing tactic' – it is a long-term strategy designed to make dealing with Biesse an easy, enjoyable and rewarding experience.

02 Peace of Mind

Total Care enables customers to run their business. Cover for preventive maintenance, breakdowns and even damage due to operator error are all included.

Confidence

03

04

05

Our multi-years warranty is based on our excellent machine reliability statistics.

Investment

The cost of ownership and the risks normally associated with purchasing and operating capital plants are minimized.

Protection

At the end of the 5-year plan, customers can decide to upgrade to a new machine, and the original machine is placed on the second user market, with the benefits of a full service history and increased value.

We make Smart Factory of our Customers.

We offer innovative solutions with high levels of flexibility, not only thanks to our production logic, but also the ability of our machines to adapt to customer requirements in accordance with the increased availability of information (IoT).

The Internet of Things, transformed from a simple resource to a central element of the Customer Value Chain.

In 2013 we were the first to introduce smart devices to the Wood- Aluminum- Plastic (WAP) sector.

Our working approach evolved from a break-and-fix logic to a more advanced, predictive logic.

Now we want to drive our Customer into the Future.

3.

Extract of the P&L

€/mln	2013	2014	2015
Net sales year -1	378,4 -1,2%	427,1 +12,9%	519,1 +21,5%	CAGR 10.7
Cost of good sold	156,5 41,4%	171,2 40,1%	206.1 39,8%
Value added %	143,5 37,9%	169,1 39,6%	212,4 40,9%	CAGR 12,0%
Labour cost	112,7 29,8%	128,2 30,0%	148,2 28,6%
overhead	81,4 21,5%	89,7 21,0%	104,7 20,2%
EBITDA %	30,9 8,2%	40,9 9,6%	64,1 12,4%	CAGR 14.2
EBIT* % Net Result	18,1 4,8% 4,3	26,5 6,2% 13,8	43,8 8,4% 21,1	CAGR 17,9% CAGR 29,4%
% * before non recurring items	1,1%	3,2% tax rate 39,1%	4,1% 45,3%

Growth Rate without FX effect +17%

Net Result bridge 2014 vs ²⁰¹⁵

Tax rate comments

Compared to the previous year, the 2015 tax rate increase is mainly due to:

1. increase of the Corporate tax (in Italy +€ 7.6 mln abroad + € 2.0 mln)

2. conservative approach to the D.T.A. use (i.e. China & Spain)

3. stop of the previous year losses exercise

4. positive effect of the IRAP decrease in Italy (- €1.4 mln)

Cashflow - Net Debt

€/mln	2013	2014	2015
Gross Cashflow % net sales	52.1 13.8%	38.3 9.0%	46.3 8.9%
Investments % net sales	-19.9 5.2%	-20.8 4.9%	-25.2 4.9%
Net Cashflow %	32.3 8.5%	17.5 4.1%	21.1 4.0%
Dividends		-4.8 € 0.18 per share	-9.8 € 0.36 per share
Delta Net debt	32.3	12,7	11.3
NET FINANCIAL POSITION	-23.9	-11.2	0.1

Our future in figures

1. 4.1 More Revenue 4.2 More Profit 4.3 More Cash

Continuing to pursue organic growth.

• Same perimeter
• Increasing our sales force, agents and distributors worldwide
• Growing in all the outstanding business division: not only in the woodworking machine sector, but also in the areas of glass, stone and mechatronics
• Continuing to diversify into new sectors: advanced materials* and metal working

More Revenue

Group order intake & backlog

Continue to increase our sales.

• 2015: Group orders intake +17,8% (vs. the same period 2014)
• 2015: Group backlog December 2015 +21,5% (vs. the same period 2014)
• IQ 2016: Group orders intake 3 months +5,5% (vs. the same period 2015)
• IQ 2016: Group backlog March 2016 +31,0% (vs. the same period 2015)

More Profit

Ebitda

Continue to increase generation of value.

• Decreasing incidence of COGS on Net Sales through footprint optimization and efficiency
• Maintaining Labour Cost incidence on Net Sales below 29%
• Maintaining Overhead incidence on Net Sales below 20%

More Cash

Continue to generate a positive cash flow.

• Starting from Zero Net Debt in 2015
• Continuing to invest in R&D around 5% of Net Sales
• 2016 investing Cash Flow in an "extraordinary" CAPEX to support our growth forecast

More Cash

Operating Net Working Capital

Continue to strictly control our Operating Net Working Capital.

• Maintaining Operating Net Working Capital incidence on Net Sales well below 14%
• Maintaining our Group inventories below 22% incidence on Net Sales
• Maintaining our Group DSO around 60 days
• Maintaining our Group DPO around 110 days

More Cash

Capex

Invest to continue our growth path.

2016

Main Investments drivers

• Indian Manufacturing Site Expansion (+10.000m² )
• Chinese Production Site Lean Manufacturing Adoption
• Mechatronics Italian new plant for R&D and production (10.000m² )
• R&D constant investment, around 5% on net sales every year
• Wood machinery production site enlargement & maintenance capex

ROCE Before taxes & non recurring item

	Annex
	Extract of the P&L				Growth Rate without FX effect
	€/mln	2013	2014	2015	+17%	2018e	Targets
	Net sales year -1	378,4 -1,2%	427,1 +12,9%	519,1 +21,5%	CAGR 10.7	704,2 +11,2%	decrease COGS incidence % on Net Sales of 1.2%
	Cost of good sold	156,5 41,4%	171,2 40,1%	206.1 39,8%		271,8 38,6%	through footprint optimization and efficiency
	Value added	143,5	169,1	212,4		298,6
	%	37,9%	39,6%	40,9%	CAGR 12,0%	42,4%
	Labour cost	112,7 29,8%	128,2 30,0%	148,2 28,6%		203,,0 28,8%	< 29% incidence
	overhead	81,4 21,5%	89,7 21,0%	104,7 20,2%		136,0 19,3%	< 20% incidence
	EBITDA	30,9	40,9	64,1		95,6
	%	8,2%	9,6%	12,4%	CAGR 14.2	13,6%
	EBIT*	18,1	26,5	43,8		71,6
	%	4,8%	6,2%	8,4%	CAGR 17,9%	10,2%
84

* before non recurring items

EBITDA bridge 2014 vs ²⁰¹⁵

EBITDA bridge 2009 vs ²⁰¹⁵

Operating Net Working Capital

€/mln	2013	2014	2015	2018e	Targets
Inventories % net sales	22,8%	23,0%	21,5%	19,4%	<22%
Receivables % net sales	20,1%	18,9%	20,3%	19,1%	DSO 60 days
Payables % net sales	29,4%	28,8%	29,5%	26,6%	DPO 110 days
Operating Net Working Capital	51,4	55,6	63,4	83,5
% net sales	13,6%	13,0%	12,2%	11,9%

Cashflow - Net Debt

€/mln	2013	2014	2015	2016e	2017e	2018e
Gross Cashflow % net sales	52,1 13,8%	38,3 9,0%	46,3 8,9%			64,1 9,1%
Investments % net sales	-19,9 5,2%	-20,8 4,9%	-25,2 4,9%			-25,0 3,5%
Net Cashflow % net sales	32,3 8,5%	17,5 4,1%	21,1 4,1%			39,1 5,6%
Dividends		-4,8 0.18 per share	-9,8 0.36 per share 71% of 2014 net result		Target Dividend
Δ Net Debt		12,7	11,3		Payments 40% of Net Result
Net Debt	-23,9	-11,2	0,1			44,5

Cashflow bridge 2009 vs 2015

92

Group People Distribution

	2010	2011	2012	2013	2014	2015	2018e
Production % of total people	965 41%	1.250 46%	1.265 45%	1.175 44%	1.201 42%	1.335 42%
Service & After sale % of total people	568 24%	577 21%	574 21%	613 22%	628 22%	690 22%
R&D % of total people	293 12%	316 12%	338 12%	321 12%	361 13%	383 13%
Sales & Marketing % of total people	340 13%	361 13%	364 13%	351 13%	439 15%	495 15,6% 2015 vs 2010 increase 45.6%
G & A % of total people	202 9%	233 9%	242 9%	235 9%	252 9%	273 9%
ITALY % of total people	1660 70%	1.656 61%	1.646 59%	1.547 57%	1.605 56%	1.780 56%	50%
OUTSIDE ITALY % of total people	708 30%	1.081 39%	1.136 41%	1.148 43%	1.276 44%	1.396 44%	50%
TOTAL revenue x employee	2.368	2.737	2.782	2.695	2.881	3.176 2015 vs 2010 increase 34.1%

93

Receivables - Payables - Inventories

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 and strategies.
• 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.
• 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 be relied upon in connection with any contract or commitment whatsoever.
• By attending the presentation you agree to be bound by the foregoing terms.

biessegroup.com