Biesse — Investor Presentation 2024

Mar 14, 2025

Biesse Group

FY 2024 Results

Conference call after the Biesse B.o.D.

14 March 2025

THE GROUP – WORLDWILDE PRESENCE

Italy

~3,970

total employees of which 42% out of Italy

of quarterly revenue in North & South America

of quarterly revenue in APAC

~13%

India

Thailand

Manufacturing

Showroom Network in

Sites in

countries

3

19

Countries

Economic Scenario '24-'26 (1/2)

Navigating the Uncertainty

INFLATION

Headline inflation has continued to ease in most countries: in the G20 is projected to fall from 5.4% in 2024, to 3.5% in 2025, and 2.9% in 2026

GDP* OUTLOOK

Global GDP growth is projected to strengthen slightly to 3.3% in 2025 and remain stable at this level through 2026. Emerging Asia continuing to be the biggest contributor to global growth

COST OF MONEY

Interest rates have been reduced in most major advanced economies in recent months. Nonetheless, the monetary policy generally remains restrictive. IR (deposit facility): BCE 2,75% - FED 4,25% / 4,50%

adline inflation projections for 2024, 2025 and .
---------------------------------------------------	--

Argentina	120.9%	29.8%	25.1%
Türkiye	58.3%	30.7%	17.2%
Russia	8.2%	7.0%	5.2%
G20	5.4%	3.5%	2.9%
India	4.8%	4.2%	4.0%
Mexico	4.7%	3.3%	3.0%
South Africa	4.6%	3.9%	4.5%
Brazil	4.5%	4.2%	3.6%
Australia	3.2%	2.3%	2.6%
Spain	2.8%	2.1%	2.0%
United Kingdom	2.6%	2.7%	2.3%
Japan	2.6%	1.9%	2.1%
United States	2.5%	2.1%	2.0%
Germany	2.4%	2.0%	1.9%
France	2.4%	1.6%	1.8%
Canada	2.4%	2.0%	2.1%
Euro area	2.4%	2.1%	2.0%
Korea	2.3%	1.8%	2.0%
Indonesia	2.3%	2.2%	2.4%
Saudi Arabia	1.6%	1.7%	2.0%
Italy	1.2%	2.1%	2.0%
China	0-496	1.196	1.4%

Key Takeout:

• Inflation slightly down, interest rates lowering slower than expected
• Global GDP growth projections are stable, Euro area weak, Asia growing on India, US still healthy

Source: IMF World Economic Outlook January 2025

Economic Scenario '24-'26 (2/2)

Uncertainty is the new Certainty

Key Takeout:

• Geopolitical & Economic instability
• Weak Industrial Consumption and Production, with significant decrease in key industrial sectors

THE GROUP - TREND ORDERS-SALES-BACKLOG

€m

Revenues: € 755m vs € 785m PY (€ -30m; -4%):

• Biesse € 643m vs € 785m PY (€ -142m; -18%);
• GMM Group € 112m.

Orders: € 691m vs € 670m PY (€ 21m; 3%):

• Biesse € 601m vs € 670m PY (€ -69m; -10%);
• GMM Group € 90m.

Backlog: € 255m vs € 282m PY (€ -27m; -10%):

• Biesse € 234m vs € 282m PY (€ -48m; -17%);

• GMM Group € 22m.

The Group order intake has increased compared to previous year because of the acquisition of GMM Group, while the Biesse order in take has decreased due to:

• Slowdown recorded in some target markets;
• Difficulties in credit access and increase in interest rates which led to a consequential growth in orders blocked for financial reasons.

The backlog remains solid, settling at € 255m.

THE GROUP – FY 2024 HIGHLIGHTS

Value in €m		FY 2024(A)	FY* 2023(A)	∆	∆%
Revenues	A	754,7	785,0	-30,3	-3,9%
EBITDA adjusted % Net Sales on	B	58,9 7 8% ,	77,0 9 8% ,	-18,1	-23,5%
EBIT adjusted % Net Sales on	C	18,7 2 5% ,	40,3 5 1% ,	-21,7	-53,7%
EBIT % Net Sales on	D	14,9 2 0% ,	24,2 3 1% ,	-9,3	-38,3%
Net Result	E	3,8	12,5	-8,7	-70,0%
% Net Sales on		0 5% ,	1 6% ,

• Revenues in FY 2024 have been equal to € 754.7 mil., (3.9%) compared with FY 2023 .
• EBITDA adjusted results equal to € 58.9 mil., with an incidence on net sales of 7.8%, lower than FY 2023. B

EBIT before non-recurring events results equal to € 18.7 mil, with an incidence on net sales of 2.5%, lower than FY 2023.

C

D

E

A

EBIT results equal to € 14.9 mil., because of nonrecurring effects which has an amount equal to € 3.8 mil.

The Group has recorded a Net Result positive for € 3.8 mil., € (8.7) mil. lower than FY 2023.

THE GROUP-BRIDGE NET RESULTS FY 2023 VS FY 2024

Net result as of 31st December 2024 has been equal to € 3.8mil., € (8.7) mil. compared with FY 2023.

The process of organizational transformation continues, designed to adapt the company's structure and the general costs coherently with the One Company Project. Furthermore, the implementation of all the strategic projects included in three-year plan is accelerating, in order to make the Group more efficient and effective in every operative aspect.

Biesse Effect on Net Result(€ 9,7m)

THE GROUP – HEADCOUNT TREND

Headcount	DIC 2024	%	DEC 2023*	%	∆	∆ %
Italy	2.300	58%	2.265	58%	35	2%
Rest of the world	1.672	42%	1.659	42%	1 3	1 %
TOTAL	3.972	100%	3.924	100%	48	1,2%

Headcount in December 2024 has recorded a growth of 48 units compared with December 2023. The growth is related to the integration of GMM Group (383 units) partially compensated by the reduction of 335 units (of which 235 in the Italian perimeter).

Headcount	DIC 2024	SEP 2024	JUN 2024	MAR 2024	DEC 2023*
Italy	2.300	2.378	2.455	2.508	2.265
Rest of the world	1.672	1.753	1.797	1.766	1.659
TOTAL	3.972	4.131	4.252	4.274	3.924

THE GROUP – FY 2024 NWC & NFP

Value in €m	DEC 2024	DEC 2023*	∆
Inventories	177,3	168,4	8 9 ,
Trade receivables	120,8	116,6	4 2 ,
Trade payables	(120,9)	(135,3)	14 3 ,
Contract liabilities	(99,6)	(108,0)	8 5 ,
Net operating working capital A	77,6	41,7	35,9
Net financial position without B IFRS16	24,9	118,5	(93,5)
Net financial position	(4,7)	93,0	(97,7)

The net working capital increase of € 35.9 mil. compared with December 2023: increase mainly due to the variation of the consolidation perimeter as consequence of the acquisition of GMM Group. Remaining effect is due to the decrease of the downpayments (equal to € 8.5 mil.) influenced by the slowdown of order intake already started during 2023. A

Net financial position without IFRS16 was positive for € 24.9 mil. compared with year-end 2023, the indicator decreased of € 93.5 mil., mainly influenced by the completion of the acquisition of GMM Group, as well as dividend distribution, non-recurring financial outflows referring to redundancies, only partially offset by positive result coming from operating activity. B

THE GROUP - SHAREHOLDER DISTRIBUTION

Shareholders distribution

Biesse Board of Directors

• Roberto Selci (President)
• Massimo Potenza (C.E.O.)
• Alessandra Baronciani
• Rossella Schiavini
• Federica Ricceri
• Massimiliano Bruni
• Cristina Sgubin

THANKS