Biesse — Investor Presentation 2023

Oct 26, 2023

Biesse Renovation is an extraordinary journey

Conference Phone Call

26 October 2023

Q3 2023 Results

Agenda

1.0 FINANCIAL HIGHLIGHTS 2.0 SEGMENT REPORTING 3.0 DIVIDENDS

4.0 STAFF DISTRIBUTION

SHAREHOLDER DISTRIBUTION

Biesse Group

FINANCIAL HIGHLIGHTS

A solid path in revenues continues

Financial Highlights: 2019- Q3 2023

• In Q3 2023 we achieved a decrease in revenues (-17.7 €/mln vs September 2022, YTD).
• In 2021 and 2022 we outperformed Order Intake vs prior years. In the first nine months of 2023 we recorded a decrease as foreseen in our budget.
• As of Q3 2023 we confirmed a good EBITDA performance (10,5% on sales).
• From 2019 to 2022 we improved our cash generation performance, which increased by more than 135 €/mln after dividends payment. Q3 2023 maintained the net financial position at a higher level compared to Q3 2022.

Highlights – Profit & Loss

Highlights –	Profit & Loss
Amounts in €m	Q 3 2023	Q 3 2022	DEC 2022	DEC 2021	DEC 2020
Revenues	595,7	613,4	822,4	742,2	578,8
Var % vs previous period	-2,9%		10,8%	28,2%	-18,0%
EBITDA adjusted	62,7	70,8	90,6	79,7	56,0
% on Net Sales	10,5%	11,5%	11,0%	10,7%	9,7%
EBIT adjusted	34,3	42,6	47,6	34,1	7,0
% on Net Sales	5,8%	6,9%	5,9%	4,6%	1,2%
EBIT	28,1	44,2	50,8	45,7	6,2
% on Net Sales	4,7%	7,2%	6,2%	6,2%	1,1%
Net result	16,0	24,8	30,3	34,2	2,5
% on Net Sales	2,7%	4,0%	3,7%	4,6%	0,4%

Balance Sheet

Amounts in €m	9M 2023	9M 2022	DEC 2022	DEC 2021	DEC 2020	DEC 2019
Fixed Assets	201,3	212,5	210,5	219,6	201,8	225,6
Inventory	189,4	227,6	215,6	179,4	129,8	155,5
Trade receivables	126,0	139,7	112,5	126,0	102,9	117,0
Trade payables	(140,7)	(181,2)	(182,0)	(186,7)	(132,8)	(132,7)
Advance payments	(103,9)	(141,6)	(138,2)	(127,1)	(72,2)	(67,5)
Net Working Capital	70,8	44,5	7,9	(8,4)	27,7	72,3
Other activities/liabilities (Net)	(94,1)	(75,1)	(74,2)	(86,6)	(64,2)	(60,6)
Net Capital Employed	178,0	181,9	144,1	124,6	165,3	237,3
Equity	268,1	261,4	260,8	249,2	214,8	218,7
Net Financial Position	(90,1)	(79,6)	(116,6)	(124,6)	(49,5)	18,6
Total Sources of Funding	178,0	181,9	144,1	124,6	165,3	237,3

Net Financial Position Trend

From 2020 to Q3 2023

Cash Flow Bridge

SEGMENT REPORTING

Markets

% on Total 2022

Revenues by Geographical Area 2019 – Q3 2023 (€/mln – Incidence on Total)

• Consistent revenues increase in Western Europe continuing growth path after Covid-19 recovery
• Limited impact of Russia/Ukraine conflict on Revenues in the Eastern Europe Area
• Asia & Oceania partially impacted by lockdown in China

Incidence of After-sale and Parts on Revenues in 2022

In €m	2019		2020		2021		2022		Q3 2023		Q3 2022	Q3 2023	Q3 2023 vs Q2 2022
	Value	%	Value	%	Value	%	Value	%	Value	%	Value	Value	%
Western Europe	333,0	47,2%	288,8	49,9%	381,9	51,5%	431,1	52,4%	316,4	53,1%	325,1	316,4	-2,7%
Asia & Oceania	105,9	15,0%	69,3	12,0%	95,9	12,9%	100,3	12,2%	70,5	11,8%		74,9 70,6	-5,8%
Eastern Europe	89,2	12,6%	94,4	16,3%	119,9	16,1%	113,1	13,8%	89,8	15,1%		82,3 89,8	9,1%
North America	150,6	21,3%	109,1	18,8%	122,4	16,5%	157,3	19,1%	105,9	17,8%	114,6	105,9	-7,6%
Rest of the World	27,1	3,8%	17,3	3,0%	22,1	3,0%	20,6	2,5%	13,1	2,2%		16,6 13,1	-21,3%
Total	705, 9	100%	578, 8	100%	742, 2	100%	822, 4	100%	595, 7	100%	613,	5 595, 8	-2,9%

DIVIDENDS

STAFF DISTRIBUTION

Employee distribution (excluding temporary workers)

Headcount	Q3 2023	%	Q3 2022	%	∆		∆ %
Italy	2.312	58%	2.538	60%	-226		-9%
Row	1.653	42%	1.694	40%	-41	-2%
Totale	3.965		4.232		(267)		-6,3%
Headcount	SEP 2023	JUN 2023	MAR 2023	DEC 2022		SEP 2022
Italy	2.312	2.422	2.449	2.494		2.538
Row	1.653	1.650	1.671	1.670		1.694
Totale	3.965	4.072	4.120	4.164		4.232

SHAREHOLDER DISTRIBUTION

Shareholder Distribution

Biesse Board of Directors

• Giancarlo Selci (Founder President)
• Roberto Selci (C.E.O.)
• Massimo Potenza (Co-C.E.O.)
• Alessandra Baronciani
• Rossella Schiavini
• Federica Ricceri
• Ferruccio Borsani

Shareholders distribution

Source: Reuters

Biesse - Renovation is an extraordinary journey 19

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