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El.En. Investor Presentation 2016

Oct 6, 2016

4393_10-q_2016-10-06_aac8bb89-8dbd-497e-aad8-57a54efb3272.pdf

Investor Presentation

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STAR CONFERENCE

H1 2016 FINANCIAL RESULTS

Oct. 6th, 7th 2016

Disclaimer

Certain statements in this slide show, including those addressing the Company's beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate and may be affected should our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation about the contents nor to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.

Summary

  • 1.LASERS AND LASER APPLICATIONS
  • 2.THE GLOBAL LASER MARKET
  • 3.EL.EN. GROUP
  • 4.H1-2016 FINANCIAL RESULTS
  • 5.2016 TARGETS
  • 6.EL.EN. STOCK, MULTIPLES & COMPARABLES

Lasers and Laser Applications

LASER

Light Amplification by Stimulated Emission of Radiation

MEDICAL LASER Systems

INDUSTRIAL LASER Systems

www.elengroup.com

Medicaland Aest. Applications

Surgical Laser systems

Aesthetic Laser systems

The Global Laser Market

The MEDICAL Laser Market

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The INDUSTRIAL Laser Market

Global market and forecast for high power laser systems by application (by value)

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El.En. Group

Group Overview

High –Tech laser photonics Group

Develops, manufactures and distributes laser sources and laser systems for medical and industrial applications

Know-how based on 35 years stratification of multidisciplinary experience

FY 2015: Consolidated Revenues of €218 mln, up 21% YoY H1 2016: Consolidated Revenues of €120 mln, up 12% YoY

1042 employees

Global positioning

Strategic Strengths

Multidisciplinary and multifacility R&D activity: sources, systems, applications

Industrial

Combine High tech laser source development with flexible production facilities in high growth areas

Medical

Technological and clinical innovation improving performance andbroadening the application scope of our laser systems

  • Maximize market penetration by multi brand approach
  • Open new market segments by developing innovative applications
  • Leverage worldwide distribution with multi brand approach

Cynosure

IRR= 32,50%Capital Gain = €92 mln

Consolidated Revenuesand EBIT

R&D Activity

Clinical trials and validations of new therapeutic laser treatments and research on new applications of laser- tissue interaction

Broadening Mona Lisa Touch Clinical studiesNew Pico second laser platform Clinical studies on cutaneous ulcers Painless laser hair removalPatents developmentIncreased power of RF laser sourcesInnovative applications for mid power laser systems

New factory in Samarate.....

...and in Wenzhou (PRC)

H1 -2016 Financial Results

H1 2016 ConsolidatedP&L

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H1 2016 Balance Sheet

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Total non current assetsNet Working CapitalNet financial positionLong term liabilitiesNet capital employed

Net Working Capital on sales

(EBIT/Net capital employed)

2016Targets

2016 Guidance- update

NEW

Sales 2016 = Sales 2015 +10%-> €239 mln

EBIT 2016 = EBIT 2015 +15%-> €25 mln

El.En. Stock, Multiples & Comparables

www.elengroup.com

El.En. Stock

El.En. S.p.A.

El.En. Multiples

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El.En. Comparables

June 30th, 2016 Price Revenue Var.%
Revenue		 EBIT EBIT% MK.Cap. ${\sf EV}$ EV/Sales
$(*)$		 EV/EBIT
$(*)$		 $P/E (*)$ P/Book
Value
Medical/Aesthetic
Syneron \$7,16 \$143.663 5% \$1.558 1% \$257.150 \$188.798 0,7 60,6 261,9 1,2
Zeltiq \$39,22 \$153.934 33% \$(14.690) $-10%$ \$1.590.000 \$1.537.930 5,0 n.a. n.a. 14,0
Cutera \$11,92 \$49.900 20% \$ (3.587) $-7%$ \$158.280 \$114.958 1,2 n.a. n.a. 3,3
Biolase \$1,75 \$24.820 9% \$(7.700) $-31%$ \$103.340 \$98.337 2,0 n.a. n.a. 5,5
Cynosure \$50,94 \$205.007 29% \$14.951 7% \$1.220.000 \$1.027.811 2,5 34,4 66,4 2,8
Industrial
IPG Photonics Co. \$82,35 \$460.035 6% \$165.027 36% \$4.420.000 \$3.705.920 4,0 11,2 19,0 3,1
Rofin-Sinar \$32,18 \$236.490 $-7%$ \$18.139 8% \$915.230 \$737.471 1,6 20,3 38,2 1,6
Prima Industrie €13,74 €183.291 4% €7.083 4% €144.040 €248.182 0,7 17,5 24,6 1,1
ELEn. (1) €18,61 €120.176 12% €13.524 11% €359.126 €277.582 1,4 12,1 9,4 2,1
(1) EV and multiplies as for previous slide
() Revenue, Ebit and earnings annualized
(*) w/o one time income		 $23,1$ (**)

El.En. SPA

Enrico ROMAGNOLI Investor Relations Managertel. +39 055-8826807E-mail: [email protected]

POLYTEMS HIR SRL

Bianca FERSINI MASTELLONI Financial CommunicationTel. +39 06-6797849 / +39 06-69923324E-mail: [email protected]

POLYTEMS HIR SRL

Silvia MARONGIUPress officeTel. +39 06-6797849 / +39 06-69923324E-mail: [email protected]

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