Biesse — Investor Presentation 2018

Dec 3, 2018

COMPANY PRESENTATION

DECEMBER 2018

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.

Biesse Group is a global leader in the technology for processing wood, glass, stone, 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.

OURBELIEFS

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.

5 12 Industrial Group Business DivisionsProduction Sites

We manufacture machines and components for wood, glass, stone, advanced materials and metal processing through specialisedbusiness units and 12 manufacturing sitesin Italy and worldwide.

IN

HOW

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

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.

WITH

Customers in 120 Countries.

Manufacturers of furniture, design items and door/window frames, producers of elements for the building, nautical and aerospace industries.

More than 4,380 employees throughout the world (temporary workers included) are ourHuman Capital Value

INNOVATION

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

Innovation is hard-wiredin our DNA.

RELIABILITY

Our main principles:

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

EXCELLENCE

A VIRTUOUS CIRCLE OF EXCELLENCE…

FOR A CONSTANTGROWTH

02

Profit

01

Revenue

Cash

FOOTPRINT

DISTRIBUTION

CUSTOMERS

SEGMENTS:

• JOINERS
• MAKERS OF LARGE FURNITURE ITEMS
• WINDOWS AND DOORS
• WOOD BUILDING COMPANIES AND MANUFACTURERS
• GLASS WORKERS
• MARBLE WORKERS
• WINDOWS
• FURNITURE
• KITCHEN MANUFACTURERS
• MACHINERY PRODUCERS:
• WOOD
• ALUMINUM
• PLASTIC
• METAL
• ADVANCED MATERIALS

A SHORT SELECTION OF THE COMPANIES WE SERVE:

STRATEGY

Differentiation

FACING ^A DISRUPTIVE GROWTH

(1) …B2B companies will need a completely different approach to driving growth…

what will impact our business over the next years:

81%
67%
80%
69%	$+110/0+$
73%
61%	$+12\% +$
	,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
80%
67%	$+130h-$
78%
67%	411%
79%
	Customer Experience Operations & Performance

21

Accenture source

…HOW BIESSE IS FACING THIS PHASE:FACING A DISRUPTIVE GROWTH(2)

1 - REMAIN AHEAD OF CUSTOMER EXPECTANTIONS

2 – LEVERAGE DIGITALE TECHNOLOGIES

3 – SALES AND MARKETING ORGANIZATION FIT

Accenture source

SYSTEMS

BSUITEACHIEVEMENT

A complete platformfully implemented

The single, integrated platform to manage all machine processes has been fully implemented on machines.

SMARTFACTORIES

The new era of digitalisation for small and medium-sized companies

70%Smart for all

Our goal is to identify 4.0 Industry - oriented Customers in order to provide them with a new business model focused on software and integration.

30%

Super Systems

In the smart factory of tomorrow, each component is traced and identifiable enabling automatic feedback and processstatistics to be generated.

SOPHIABIESSE CHOSE ACCENTURE'S INDUSTRY X.0 TO LEAD IN THE NEW

Know-How, expertise and resources

Smart Products

Smart Services

New Customer Experiences

IIOT- SOPHIA

IOT BIESSE SERVICE PACK

• Priority service and extended coverage
• Continuous connection with the Biessecontrol center
• Direct monitoring of machine performancethrough ^a dedicated app
• Analysis of machine downtime, remotediagnostics and fault prevention
• On-site functional checks and technical inspections within the warranty period
• Proactive call after machine downtimenotification
• Extended hours for service coverage from ⁸to ¹² hours per day

TO ACHIEVE GREAT RESULTS

whitin ²⁰²⁰

ROUTE TO NEW SERVICES

With its new IIOT platform, Biesse is transforming itself from product-oriented manufacturer to a digital business offering to its customers value added services.

8%MORE PRODUCTSNEW TARGET

2020

Targets

4%

7%

5%

Wood Division Estimated CAGR 2018-2020

G&S Division Estimated

Market Estimated CAGR 2018-2020

Market Estimated CAGR 2018-2020

26mln€

Metal

2020 Target

Advanced Materials

2020 Target40mln€ CAGR 2018-2020 12.9%

Mechatronics Division Estimated CAGR 2018-2020

14%

12%

Tooling Division Estimated CAGR 2018-2020

40%A.M. Division Estimated CAGR 2018-2020

Market Estimated CAGR 2018-2020

6%Market Estimated CAGR 2018-2020

MORE SOLUTIONSNEW TARGET

WOOD-MARKET

COMPETITORS

The competition in the current market is consolidated. We evaluate to be the second leading company in the sector. Main competitors are located in Germany and in Italy. The most important ones are: in Germanybelonging the (30.5% estimated market share) and in Italy (7,5% estimated market share*) not listed yet.

WOOD-TARGETS

Wood division Estimated CAGR 2018-2020vs ²⁰¹⁷

02

03

Renovation and completion of the range of machines

Market Estimated CAGR 2018-2020vs ²⁰¹⁷

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

Expand the product range of woodworking machines for the housing market

HOUSING-MARKET

COMPETITORS

The competition in the market is consolidated. Main competitors are located in Germany and in Italy. The most important ones are (the Market Leader), ( ) in Germany and , in Italy.

2017MarketSize

Whole market potential

€.0,5bn

Estimated worldwide market share 2017

HOUSING-TARGET

15€/mln

2020 Target in wood constructionmaterials (structural wood)

Biesse Group will continue to extend its product range, increasing penetration in the high potential segment (actually forecasted the best one) yet highly-strategic industry of timber carpentry (beams and structural façades).

01

02

Expand our offering in other timber carpentry segments (minor complexity and higher volumes)

Leverage on Biesse capillarity to boost sales and after-sales worldwide

GLASS-MARKET

COMPETITORS

We are currently the industry leader in the glass processing market in which we operate. Main competitors are located in Italy and Germany, Austria:

They are: ( , ) , e .

STONE-MARKET

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: ( ), , and .

2017StoneMarket Size

Estimated worldwide market share 2017

Whole market potential

€650mln

GLASS & STONETARGET

G&S Division Estimated CAGR 2018-2020vs ²⁰¹⁷

Market Estimated CAGR 2018-2020 vs ²⁰¹⁷

01Maintain and reinforce our leading 12%position in the glass sector

02

Expand our offering in new product segments

Increase our market share in the stone segment, reinforcing our leadership in 03this area

TOOLING – GLASS – STONE & CERAMIC MARKET

TOOLING -TARGET

Tooling Division Estimated CAGR 2018-2020(vs 2017)

6%

Market Estimated CAGR 2018-2020 (vs 2017)

01

Maintain and reinforce our leading position in the glass sector

02

Expand our offering in new product segments

03

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

MECHATRONICSTARGET

Mechatronics Unit Estimated CAGR 2018-2020(vs 2017)

5%

MarketEstimated CAGR 2018-2020(vs 2017 )

2020 target in metal sector

01

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

Enlarge our product offering for metal working machines

03

Continue to strengthen its sales organization especially in Asian and Western Europe Market

ADVANCEDMATERIALS

COMPETITORS

The advanced material* processing machinery market is highly fragmented worldwide, main competitors are , , , , ( ), , and .

Care Model 1:1 Clay block⁴¹

*Advanced materialsCarbon FiberFoamCompositeAlluminium

Estimated worldwide market share 20162017A.M.MarketSize

Titanium

Whole market potential € 0.8 bln

ADVANCEDMATERIALS*

40mln/€

2020 targetIn advanced material segment

*Advanced materials

• Carbon Fiber
• Foam
• Plastics
• Composite
• Alluminium
• Titanium

Expand our plastic working machineries in order tomeet the needs of the market.

02 Extend our product range drawing on the expertise of Uniteam to enhance its range of products and applications for machining advanced composite materials for several industries

application

Marine

Packaging

Renewable

Energy

Ballistics

f d D e e n s e a n

i l V s a u
i i t c o m m n c a o n u

SERVICE

Our network supports our customers worldwide. Through Biesseservice and Biesse parts. we offer technical services and machine/component spares parts anywhere in the world on-site. as well as on-line - 24/7.

Our Service will evolve to Service 2.0

Predictive: leave "break-and -fix" service as is logics and anticipate the needs moving onto predictive services thanks .

Digital: Fully implement On Line Sophia Services platform to offer advanced remote assistance, Spare Parts purchasing, Intelligent Troubleshooting, software update distribution and machines connection to Customer ERP

Master in Competence: Structure Training Academy supporting product and process competence to our Customers and Service team

SYSTEMS

We increased our market share becoming a leading company in the engineering solutions sector worldwide recognised.

The guiding strategy of the Biesse Systems team is based on the following clear key concepts:

• Definite lead times
• •Automation
• •Stock Management
• •Modularity
• •Total Quality

BSUITE

Potential Software Fees contribution to

Net Sales (to be invoiced)

01

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

02

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

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

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

SUBSIDARIESCLOSE TOCUSTOMERS

03

To expand our global presenceto be 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 strategies01

02Invest in new and innovative technological complexes, "Biesse Campus", to better support our expansion in selected areas

Invest in human resources and capabilities as growth drivers

STABILIZEPROFITABILITY

9.5%Net salesCAGR 2018-2020 vs ²⁰¹⁷

< 39%

Target COGSincidence on Net Sales

< 30%Target Labor Cost incidence on Net Sales

< 20%Target Overhead Cost on Incidence on Net Sales

• Continue our growth trend
• Optimize our production costs
• Invest in human resources and capabilities as growth driver, controlling their incidence on net sales
• Optimize Overhead costs

9 MONTHS 2018

THE LATEST RESULTS OFFICIALLY APPROVED

BIESSE HIGHLIGHTS 9 MONTHS²⁰¹⁸

orders intake+5.2%

backlog+18.5%

Group people nr.4,383.(including temporary people)

net sales€ 520.8

net financial position cash positive € 19.4

ebitda€ 60.9 (incidenceon sales 11.7%)

ebit€ 42.5 (incidenceon sales 8.2%)

net result€ 23.5 (incidenceon sales 4.5%)

€/mln

EXTRACT OF THE P&L – 9months 2018

ln € /m	2 0 3 F Y 1	2 0 F Y 1 4	2 0 F Y 1 5	2 0 F Y 1 6	2 0 F Y 1 7	h 9 t m o n s 2 0 1 7	h 9 t m o n s 2 0 8 1
l N t e s a e s 1 ea r - y	3 8. 7 4 -1 2 %	2 4 7. 1 1 2. 3 % +	3. 5 1 1 2 1. 5 % +	8. 6 1 5 1 9. 1 % +	9 0. 6 1 1 1. 6 % +	9 8. 3 4	2 0. 8 5
l d d d V a u e a e %	3. 1 4 5 3 7. 3 %	3. 1 6 1 3 3. 6 %	2 2. 1 4 0. 3 % 4	2 2. 5 4 0. 8 % 4	2 8 8. 6 8 % 4 1.	2 0 9. 5 4 2. 0 %	2 1 7. 6 4 1. 8 %
b L t a o u r c o s %	1 1 2. 7 2 3. 8 %	1 2 8. 2 3 0. 0 %	1 4 8. 2 2 8. 6 %	1 7 6. 6 2 8. 6 %	1 9 9. 1 2 8. 9 %	3. 9 1 4 2 8. 9 %	6. 1 5 7 3 0. 1 %
E B I T D A %	3 0. 3 8. 2 %	4 0. 3 3. 6 %	6 4. 1 1 2. 4 %	7 5. 8 1 2. 3 %	8 9. 5 1 3. 0 %	6 5. 5 1 3. 2 %	6 0. 9 1 1. 7. %
E B I T * %	1 8. 1 4. 8 %	2 6. 5 6. 2 %	4 3. 8 8. 4 %	5 5. 1 8. 9 %	6 9. 6 3. 2 %	4 8. 1 9. 7 %	4 2. 5 8. 2 %
be fo * re no	ing i te n r ec ur r ms				t t a x r a e	3 6. 2 %	3 % 5. 1

NET FINANCIAL POSITION TREND –

CASHFLOW – NET DEBIT

l € / m n	2 0 3 1	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7	9 h t m o n s 2 0 8 1	2 0 2 0 e
h f l G C r o s s a s o w % les t s ne a	5 2. 0 1 3. 8 %	3 8. 3 9. 0 %	4 6. 3 8. 9 %	8 7 4 5. % 4	4 1 7 5. 0. 9 %	8 5. 2 8. % 5	2 1 9 5. 0. % 5
I t t n v e s m e n s les % t s ne a	-1 9. 8 2 % 5.	-2 0. 8 9 % 4.	-2 5. 2 9 % 4.	-3 2. 0 5 2 %	2 5 -3 9. 7 %	7 5 -2 6. 1 %	5 5. -5 0. 6 %
f C h l N t e a s o w les % t s ne a	3 2. 2 8 5 %	1 7. 5 4 1 %	2 1. 1 4 1 %	1 3. 8 2 2 %	3 6. 2 5 2 %	2. 1 0 %	4 4. 7 4 9 %
d iv i de ds n		8 -4 0. 1 8 ha p er s re	-9 8 ha 0. 3 6 p er s re	-9 8 ha 0. 3 6 p er s re	-9 8 0. 3 6 p ha er s re	1 0. -1 3. ha 4 8 e r s re	-1 6. 6 f f 3 0 % i t p t o ne ro
b Δ N D t t e e		1 2. 7	1 1. 3	4. 0	2 6. 4	-1 1. 0
b N D t t e e	2 3 9 -	1 1 3 -	0 0	0 4	3 0 4	1 9. 4	1 0 4 7 5 2

SALES BREAKDOWN – SEPT. 2018

by main geo-areas

by business divisions

Wood

Glass & Stone Mechatronics Tooling Components Elisions

ORDERS UPDATE

SEPTEMBER ²⁰¹⁸

GROUP ORDERSINTAKE& BACKLOG

GROUP PEOPLEDISTRIBUTION

SEPTEMBER ²⁰¹⁸

PEOPLE DISTRIBUTION

57

(without interim people)

	F Y 2 0 1 0	F Y 2 0 1 1	F Y 2 0 1 2	F Y 2 0 1 3	F Y 2 0 1 4	F Y 2 0 1 5	F Y 2 0 1 6	F Y 2 0 1 7	S t e p 2 0 1 8
d i P t r o u c o n % o f al p le tot eop	9 6 5 % 4 1	1. 2 5 0 % 4 6	1. 2 6 5 % 4 5	1. 1 7 5 % 4 4	1. 2 0 1 2 % 4	1. 3 3 5 2 % 4	1. 4 8 2 % 4 1	1. 4 9 4 3 9 %	1. 6 4 9 3 9 %
f le Se ice & A te rv r sa f al p le % o tot eop	5 6 8 2 4 %	5 7 7 2 1 %	5 7 4 2 1 %	6 1 3 2 2 %	6 2 8 2 2 %	6 9 0 2 2 %	8 0 3 2 2 %	8 9 4 2 3 %	9 6 9 2 3 %
& R D % o f al p le tot eop	2 9 3 1 2 %	3 1 6 1 2 %	3 3 8 1 2 %	3 2 1 1 2 %	3 6 1 1 3 %	3 8 3 1 3 %	4 3 6 1 2 %	4 7 9 1 2. 5 %	5 2 7 2. % 1 6
Sa les & ke ing M t ar f al p le % o tot eop	3 4 0 1 3 %	3 6 1 1 3 %	3 6 4 1 3 %	3 5 1 1 3 %	4 3 9 1 5 %	4 9 5 1 5 %	5 8 7 1 6 %	6 4 1 1 7 %	7 0 0 1 7 %
G A & f % o al p le tot eop	2 0 2 9 %	2 3 3 9 %	2 2 4 9 %	2 3 5 9 %	2 2 5 9 %	2 3 7 9 %	3 0 1 8. 5 %	3 3 8 8. 8 %	3 5 1 8. 0 %
I T A L Y % o f al p le tot eop	1. 6 6 0 7 0 %	1. 6 5 6 6 1 %	1. 6 4 6 5 9 %	1. 5 4 7 5 7 %	1. 6 0 5 5 6 %	1. 7 8 0 5 6 %	2. 0 0 9 5 6 %	2. 1 7 6 5 6 %	2, 4 6 1 5 9 %
O S U T I D E I T A L Y f % o al p le tot eop	7 8 3 0 0 %	1. 1 3 0 8 9 %	1. 6 4 1 3 % 1	1. 8 4 1 4 3 %	1. 6 4 2 7 % 4	1. 6 4 3 9 % 4	1. 9 4 6 0 4 %	1. 0 4 6 7 4 %	1, 5 4 7 3 1 %
T O T A L	2 3 8 6 ,	2 3 7 7 ,	2 8 2 7 ,	2 9 6 5 ,	2 8 8 1 ,	3 1 7 6 ,	3 8 6 1 ,	3 8 4 6 ,	9 4 1 6 ,

PEOPLE DISTRIBUTION

	2 0 0 F Y 1	2 0 F Y 1 1	2 0 2 F Y 1	2 0 3 F Y 1	2 0 F Y 1 4	2 0 F Y 1 5	2 0 F Y 1 6	2 0 F Y 1 7	S t e p 2 0 1 7	S t e p 2 0 1 8
I T A L Y % o f l pe le tot a op	1 6 6 0 7 0 %	1 6 5 6 6 1 %	1 6 4 6 5 3 %	1 5 4 7 5 7 %	1 6 0 5 5 6 %	1 7 8 0 5 6 %	2 0 0 9 5 6 %	2 1 7 6 5 6 %	2 1 4 6 5 6 %	2 4 6 1 5 9 %
O U T S I D E I T A L Y ** f l pe le % o tot a op	7 0 8 3 0 %	1 0 8 1 3 3 %	1 1 3 6 4 1 %	1 1 4 8 4 3 %	1 2 7 6 4 4 %	1 3 3 6 4 4 %	1 6 0 9 4 4 %	0 1 6 7 4 4 %	1 6 7 4 4 4 %	3 1 7 5 4 1 %
T O T A L	2 3 8 6	2 3 7 7	2 8 2 7	2 9 6 5	2 8 8 1	3 1 7 6	3 8 6 1	3 8 4 6	3 8 2 0	9 4 1 6	9 8 % +

interim people at the end of Sept 2016: 232interim people at the end of Sept 2017: 184Interim people at the end of Sept 2018: 187 9 months2018: 4,383

OCTOBER³⁰TH ²⁰¹⁸

BIESSE B.O.D. PRESS RELEASE EXTRACT

BIESSE PRESS RELEASE

(EXTRACT OCT ³⁰TH)

New forecast

…in view of the results achieved to date (IIIQ 2018) and the global macro-economic outlook, the updated forecast for the current year 2018 is as follows:

consolidated revenues: expected range EURO 730- 740 millionebitda: expected range EURO 92 – 95 million positive net financial position: expected range EURO 20/25 million

"Mr. Stefano Porcellini, Group General Manager stated that, the results to 30 September are confirmation that Biesse will maintain its virtuous growth trend this year too (estimated revenues of Euro 730-740 million for full year 2018) albeit with a growth rate of about 7%, about 3 percentage points lower than the most recent Plan. The current order intake is further evidence of how global demand is increasingly oriented towards solutions with a high degree of automation, such as cells and integrated production lines. This trend, on the one hand has lifted our backlog to record levels (because of the longer production lead times) but also underlies the more conservative estimates of current revenue (and, consequently, on profitability expectations) for the current year. Although likely to be very positive, it is likely that cash generation will also feel the impact of this trend, as well as the impact of planned investment to upgrade productive capacity to satisfy new trends indemand."

2018-2020: THE 'LATEST' 3-YEARS PLAN APPROVED(remind)

(plan approved Feb ²⁸th 2018)

Continuing to pursue an organic growth. .

• Increasing our sales force. subsidiaries. agents and distributors worldwide
• Growing not only in the woodworking machine sector. but also in the glass, stone, mechatronics and advanced materials segments, especially considering the after-sales services
• Continuing to diversify into new sectors: advanced materials and metal working even through the mechatronics division

64

Generation of value.

Decreasing incidence of COGS on Net Sales taking advantage of the world

production optimization and

Maintaining Labour Cost incidence on Net Sales below

Maintaining Overhead

incidence on Net Sales below

efficiency

30%

20%

EBITDA

NET FINANCIAL POSITION

Positive cash flow.

• Starting point: huge, positive Net Financial Position at the end of 2017
• Continuing to invest in R&D around 1.5% of Net Sales (capitalized) –effective 4%
• Cash Flow finances the projected increasing CAPEX to support our growth forecast
• Already paid yearly dividends(since 2014 for four years) for a total amount of > € 34 mln dividend policy 30% of the expected Group net profit

OPERATIVE NETWORKINGCAPITAL

Control our Operative Net Working Capital.

• Maintaining Operative Net Working Capital incidence on Net Sales below 9-10%
• Maintaining our Group inventories below 22% incidence on Net Sales
• Maintaining our Group DSOaround 50 -55 days max
• Maintaining our Group DPOaround 110-120 days

CAPEX*

total capex value

total capex % on sales

*potential growth strategy through M&A not included

continue our growth trend through focused investments.

2018e

tangible: € 27.4mlnintangible: € 17.6mln

main investments drivers:

• India:investiment in durable goods
• Uniteam: improvement of the production plant
• Mechatronics: Italian plant (HSD S.p.A.) components production machines extension
• Metal Working: (internal phase): improvement of the components production
• I.T.: digital factory PLM & CRM –Oracle Subsidiaries implementation
• R&D constant investment. Around 1.5% on net sales every year

CAPEX:TANGIBILES

India: Manufacturing durable goods investments to meet the projected productive expansion improving the quality

Housing ( UniteamWood Division): improvement production plant –durable goods investments

Continue our growth trend through focused investments

Mechatronics Italian plant (HSD S.p.A.) components production machines (rotary tables) and production plant expantion

Metal working (internal phase): improvement of the components production – durable goods investments

TANGIBLEASSETS

⁶⁹

EXTRACT OF THE P&L

€ l / m n	2 0 1 3	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7		2 0 2 0 e	T t a r g e s
l N t e s a e s 1 y e a r -	3 7 8. 4 1. 2 % -	4 2 7. 1 1 2. 9 % +	5 1 9. 1 2 1. 5 % +	6 1 8. 5 1 9. 1 % +	6 9 0. 1 1 1. 6 % +	C A G R 9. 5 %	9 0 6. 2
f d l d C t o s o g o o s o	1 5 5. 9 4 1. 2 %	1 7 7. 6 4 1. 6 %	2 0 6. 1 3 9. 8 %	2 4 5. 1 3 9. 6 %	2 7 0. 1 3 9. 1 %		3 4 8. 1 3 8. 4 %
l d d d V a e a e u %	1 4 7. 0 3 8. 8 %	1 6 7. 8 3 9. 3 %	2 1 2. 4 0. 9 % 4	2 5 2. 4 4 0. 8 %	2 8 8. 6 4 1. 8 %	C A G R 1 0. 8 %	3 9 3. 1 4 3. 4 %
b L t a o u r c o s	7 2 1 1 2. 9. 8 %	2 3 1 2 8. 0. 0 %	2 2 1 4 8. 8. 6 %	6 2 1 7 6. 8. 6 %	1 2 1 9 9. 8. 9 %		0 2 2 6 6. 9. 3 %	3 0 % < inc i de nc e
h d o v e r e a	8 1. 8 2 1. 6 %	9 1. 0 2 1. 3 %	1 0 4. 7 2 0. 2 %	1 2 4. 5 2 0. 1 %	1 3 6. 1 1 9. 7 %		1 6 7. 7 1 8. 5 %	2 0 % < inc i de nc e
E B I T D A %	3 4. 3 9. 1 %	3 9. 6 9. 3 %	6 4. 1 1 2. 4 %	8 7 5. 2. 3 % 1	8 9. 5 3. 0 % 1	C A G R % 2. % 1 4	1 2 1 7. 0 % 1 4
E B I T %	1 8. 1 8 % 4	2 4. 8 8 % 5.	4 3. 7 8. % 4	5 5. 1 * 8. 9 %	6 3. 6 * 9. 2 %	C A G R 1 4. 6 %	7 1 9 5. 0. 6 %

*after non recurring items

tax rate 29.6%

OPERATIVE NETWORKING CAPITAL

ln € / m	2 0 3 1	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7	2 0 2 0 e	T t a r g e s
Inv ies to en r % les t s ne a	2 2. 8 %	2 3. 0 %	2 1. 5 %	2 1. 1 %	2 0. 8 %	2 0. 0 %	2 2 % <
b les Re iva ce les % t s ne a	2 0. 1 %	1 8. 9 %	2 0. 3 %	2 0. 8 %	1 7. 3 %	1 9. 2 %	D S O d 5 5 a y s
b les Pa a y % les t s ne a	2 9. % 4	2 8. 8 %	2 9. % 5	3 % 1. 1	3 2. % 4	3 % 1. 4	D P O d 1 2 0 a s y
O i k i N W t t p e r a n g e o r n g l C i t a p a	5 1. 4	5 5. 6	6 3. 4	6 6. 9	3 8. 7	7 0. 2
l % t n e s a e s	3 % 1 6	3 0 % 1	2 2 % 1	0 8 % 1	% 5 6	% 7 7

RECEIVABLESPAYABLESINVENTORIES

CASHFLOW

l € / m n	2 0 1 3	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7	2 0 2 0 e
h f l G C r o s s a s o w % les t s ne a	5 2. 0 3. 8 % 1	3 8. 3 9. 0 %	4 6. 3 8. 9 %	4 5. 8 % 7 4	7 5. 4 0. 9 % 1	9 5. 2 0. % 1 5
I t t n v e s m e n s les % t s ne a	-1 9. 8 5. 2 %	-2 0. 8 4. 9 %	-2 5. 2 4. 9 %	-3 2. 0 2 % 5	2 5 -3 9. 7 %	5 5. -5 0. 6 %
f C h l N t e a s o w les % t s ne a	2 8 3 2. 5 %	5 4 1 7. 1 %	2 1 4 1. 1 %	8 2 1 3. 2 %	3 6. 2 5 2 %	7 4 4 4. 9 %
d iv i de ds n		8 -4 0. 1 8 ha p er s re	-9 8 0. 3 6 p ha er s re	-9 8 0. 3 6 p ha er s re	-9 8 0. 3 6 p ha er s re	6. 6 -1 f f 3 0 % o i t p t ne ro
b Δ N D t t e e		1 2. 7	1 1. 3	4. 0	2 6. 4	€ 2 8. 1 s 2 v 0 9 1 e
b N D t t e e	2 3 9 -	1 1 3 -	0 0	4 0	3 0 4	1 0 4 7

VALUE ADDED

EBIT

post-non recurring items

LABOURCOST

MACHINES MARKET VALUE

Drivers and impact

MAIN REFERENCE MARKETS:

Biesse % of sales per macro-sectors:

consolidated net sales BiesseHOUSING-FURNITUREGDP-BIESSE

Source: Bloomberg – CSIL - CRESME

EQUITY STORY

SHAREHOLDERS – B.O.D. STRUCTURE

EQUITY STORY (a)

€/MILservice growth: increase the installed base to growth a profitable service business

market position: more than 50% of the daily business from the non-mature economies markets

technological leadership: Biesse mission is to enable customers (in all divisions) to reduce costs and increase production efficiency "looking into the future"

Industry 4.0 & smart factory: intelligent solutions already completed (SOPHIA platform and BAvant software products family)

value creation: ROCEin 2013 0.2% - ROCE in 2017 40.3% (ROCE=EBIT/capital employed)

EQUITY STORY (b)

Biesse performance indicators(most used ones)

(financial)

ln € /m	2 0 1 2	2 0 1 3	2 0 1 4	2 0 1 5	2 0 1 6	2 0 1 7	d  i I n c o m n g o r e r s l  s a e s
I N C O M I N G O R D E R S	3 0 2. 3	3 1 2. 7	3 7 5. 6	4 4 2. 6	5 0 7. 9	5 9 6. 8	 E B I T D A / E B I T ( ) l l d  R O C E E B I T / i t c a p a e m p o y e
N E T S A L E S	3 8 3. 1	3 8. 7 4	2 4 7. 1	9. 5 1 1	6 8. 1 5	6 9 0. 1	f f h l  r e e c a s o w
E B I T D A	2 5. 0	3 4. 3	3 9. 6	6 4. 1	7 5. 8	8 9. 5	( ) f l i i n o n n a n c a –
E B I T	0. 3	1 8. 1	2 4. 8	4 3. 7	5 5. 1	6 3. 6	l d f  i i t t t e m p o y e e a n c u s o m e r s a s a c o n  i i t r a n n g
R O C E	0. 2 %	1 2. 7	1 8. 4 %	3 0. 9 %	3 5. 6 %	4 0. 3 %	b l  i i i t t s u s a n a y  i i t n n o v a o n

SHAREHOLDERS BREAKDOWN – BOARD OF DIRECTORS

Biesse B.o.D.:

Giancarlo Selci (Founder - President)

Roberto Selci (C.E.O.)

Stefano Porcellini (Group Director)

Alessandra Parpajola

Giovanni Chiura (indipendent)

Federica Palazzi (indipendent)

Elisabetta Righini (indipendent)

Alberto AmurriInvestor Relator Manager 0039 - ^07214391070039 - ^3351219556