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El.En.

Investor Presentation • Mar 21, 2017

4393_cp_2017-03-21_9c89de26-ffde-40e8-8097-70e78e7c0e03.pdf

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COMPANY PRESENTATION

We Laser your World

STAR CONFERENCE, Milan 21/22 March, 2017

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-lookingstatements 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.

AGENDA

- Key Highlights

EL.EN.

A Primary Player Providing Medical, Industrial, and Conservation Laser Solutions Worldwide

Hi-Tech company

Hi-Tech industrial group active in opto-electronics with proprietary technologies and knowhow developed over 35 years

International Group

More than 20 companies active worldwide on several markets and application segments. Listed on the Milan Stock Exchange, Star segment

Among the leaders in the global market

Progressively widening its worldwide presence registered continuous growth over the years

Worldwide distribution network

1,093 employees worldwide, more than 40,000 laser sources sold

Constant Growth

13% Revenue CAGR 2011 – 2016

40% EBIT CAGR 2011 – 2016

FY 2016 Consolidated Revenue at €253m, up 16% YoY

THE LASER WORLD

Light Amplification by Stimulated

Emission of Radiation

EL.EN. MILESTONES

EL.EN. WORLDWIDE

BUSINESS LINES

El.En. designs, manufactures ad sells worldwide: MEDICAL laser devices – INDUSTRIAL laser solutions – laser systems for CONSERVATION of the cultural heritage

STRONG R&D ACTIVITY

  • Driven by constant research and development, El.En. is committed to producing advanced laser devices - excellent in terms of performance, value for money, reliability, respect for the environment and post-sale service
  • Clinical trials and validations of new therapeutic laser treatments and research on new applications of laser-tissue interaction:
  • Broadening Mona Lisa Touch Clinical studies
  • New Pico second laser platform
  • Clinical studies on cutaneous ulcers
  • Painless laser hair removal
  • Development of a body contouring platform
  • Increased power of RF laser sources
  • Innovative applications for mid power laser systems
  • High power metal cutting laser systems

A PATH OF GROWTH

  • Constant growth driven by strong execution and favorable market conditions
  • 2016 EBITDA margin 12,8% and EBIT margin 10,9%

STRATEGIC STRENGTHS

Multidisciplinary And Multifacility R&D Activity: Sources – Systems - Applications

INDUSTRIAL

Combine High tech laser source development with flexible production facilities focusing on applications

MEDICAL

Technological and clinical innovation improving performances and broadening the application scope of our laser systems

-New applications

-Improved efficacy and effectiveness of current applications

Leverage worldwide distribution with multi brand approach

2- Market Trends & Growth Opportunities

MEDICAL & AESTHETIC LASER MARKET

Consumers spending billions to restore, repair and refresh their body

  • U.S. market for non-surgical cosmetic procedures totalled \$5bn in 2014; worldwide, roughly 24 million non-surgical cosmetic procedures were performed in 2013
  • Non-invasive fat reduction was fastest-growing nonsurgical procedure in 2014

Source: World Health Organization, ASAPS

Key growth drivers:

  • Increasingly aging population
  • Increase in healthcare spending
  • Requirements for quick and less invasive surgical interventions

THE MEDICAL LASER MARKET

Global market for medical lasers by end use, through 2019 (\$ millions)

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SURGICAL LASER SYSTEMS AND MEDICAL APPLICATIONS

AESTHETIC APPLICATIONS AND SYSTEMS

DISCOVERY PICO

MOTUS AX

THE INDUSTRIAL LASER MARKET

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

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INDUSTRIAL LASERS APPLICATIONS

AUTOMOTIVE, LABELING, DIGITAL CONVERTING, PACKAGING, EASY OPENING, DECORATION

RF177

INDUSTRIAL CO2 LASER SOURCES

- Financial Highlights

INCOME STATEMENT 2016

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BALANCE SHEET 2016

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Proposed divend €0,40

REVENUE BREAKDOWN

in Euro million

MEDICAL LASERS BUSINESS REVENUE

INDUSTRIAL LASERS BUSINESS REVENUE

- 2017 Guidance

INVESTMENT OPPORTUNITY

  • Taking advantage of Positive Market Dynamics
    • Increasing exposure to the growing medical and aesthetic segments
  • -Established presence in emerging markets
  • Leading technology platforms Cutting-edge content and technology driven by culture of innovation
  • Stable shareholder base and solid cash position to fund growth

EL.EN. STOCK PERFORMANCE

EL.EN. MULTIPLES

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EL.EN. COMPARABLES

Dec. 31st, 2016
Medical/Aesthetic		 Price Revenue Var.%
Revenue		 EBIT EBIT % MK.Cap. EV EV/Sales EV/EBIT P/E P/Book
Value
Syneron \$10,40 \$298.102 7% \$3.228 1% \$357.560 \$271.139 0,9 84,0 1997,5 1,7
Zeltiq \$55,64 \$354.201 39% \$13.224 4% \$2.240.000 \$2.181.621 6,2 165,0 3227,7 16,3
Cutera \$20,85 \$118.056 25% \$2.397 2% \$295.480 \$241.406 2,0 100,7 114,7 4,8
Biolase \$1,20 \$51.810 7% \$(14.962) -29% \$86.020 \$76.845 1,5 n.a. n.a. 3,9
Cynosure \$65,97 \$433.532 28% \$27.340 6% \$1.610.000 \$1.391.790 3,2 50,9 113,4 3,5
Industrial
IPG Photonics Co. \$120,29 \$1.006.173 12% \$364.313 36% \$6.440.000 \$5.612.554 5,6 15,4 24,7 4,1
Prima Industrie €
21,60		 393.886
€		 8% €
18.528		 5% €
226.440		 \$310.655 0,8 16,8 22,3 1,6
E.I.En. (1) € 26,45 252.646
€		 16% €
27.594		 11% €
510.418		 \$416.753 1,9 17,8 12,6 2,8
$28,5$ (*)

(1) EV and multiplies as for previous slide

(*) w/o one time income

STRONG M&A ACTIVITY IN OUR SPACE

  • Cohrent (COHR) acquired Rofin-Sinar (RSTI) in 2016 (equity value \$942m)

  • Hologic acquired Cynosure (CYNO) , closing pending (equity value \$1.65 bn)

  • Allergan bought Zeltiq (ZLTQ), closing pending (equity value \$2.48bn)

CONTACTS

El.En. SPA

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

POLYTEMS HIR

Financial Communication, IR and Press Office Bianca FERSINI MASTELLONI [email protected]@polytemshir.it ; [email protected] Tel. +39 06-69923324

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