Elica

Earnings Release • Feb 13, 2024

ELICA BOD APPROVES Q4 2023 RESULTS AND 2023 PRELIMINARY CONSOLIDATED RESULTS

RESULTS IN LINE WITH EXPECTATIONS AND SOLID FUNDAMENTALS IN A SHARPLY CONTRACTING MARKET

ADJUSTED EBITDA AT 10.2% ON REVENUES IN LINE WITH PREVIOUS YEAR THANKS TO CONTINUED COST CONTROL AND OPERATIONAL FLEXIBILITY

REVENUE OF EURO 473.2 MILLION (-13.7% VS FY 2022)

ADJUSTED EBIT OF EURO 24.3 MILLION (-26.5% VS FY 2022) MARGIN ON REVENUES AT 5.1% (6% VS FY 2022)

SOLID NET FINANCIAL POSITION AND LEVERAGE UNDER CONTROL

EXPANDED DIRECT PRESENCE IN U.S. DISTRIBUTION WITH THE ACQUISITION OF CANADIAN DISTRIBUTOR AG INTERNATIONAL

SPONSORSHIP SIGNED WITH DUCATI CORSE TO SUPPORT THE PROMOTION OF THE ELICA BRAND GLOBALLY

ELICA WILL PRESENT NEW COOKING SEGMENT DEVELOPMENTS AT EUROCUCINA

Fabriano, February 13, 2024 – The Board of Directors of Elica S.p.A., the parent of a Group that is the leading global manufacturer of kitchen range hoods and the leading European producer of electric motors, has today approved the Q4 2023 results, drawn up in accordance with IFRS, and noted the 2023 preliminary consolidated results.

"The 2023 results confirm the effectiveness and speed of Group operations, although within a still highly complex global environment, in which demand has been significantly impacted by the high cost of money and persistent geopolitical tensions. In this context, thanks to the solidity of the team, the passion of all the Elica people and the clarity of vision, we have begun those product, distribution and communication initiatives that will be the foundation of our future development." Stated Francesco Casoli, Chairman of Elica.

***

Elica S.p.A.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

1 Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

"The 2023 operating and financial results confirm that this company has changed. In 2018, with a similar level of revenue and in the absence of the major headwind of inflation witnessed over the last two years, Elica reported a loss of one million, the Company now brings home more than Euro 10 million in Net Profit. We have managed to defend margins and cash, thanks to the flexibility of our industrial structure and the capability to contain costs, but above all thanks to the profound change delivered by an exceptional team over the past three years. Despite an expectation of continued weak market demand for both the Cooking and Motor segments, we will continue to bet on ourselves, investing in expanding our product offerings, in the opportunities that will come with the energy transition, in expanding our distribution network, and in our brand identity. The recent sponsorship signed with Ducati fits perfectly with this strategy, as highlighting our focus on excellence, quality, performance, technology and our Italian identity - factors which have always set us apart." stated Giulio Cocci, Chief Executive Officer of Elica.

***

2023 Key preliminary consolidated results

Revenue: Euro 473.2 million; Adjusted EBITDA¹ : Euro 48.1 million (10.2% margin on revenues); Adjusted EBIT² : Euro 24.3 million (5.1% margin on revenues); Adjusted Net Profit3: Euro 13.4 million; Adjusted Group Net Profit: Euro 11.9 million. The Minorities profit was Euro 1.5 million; Adjusted Net Financial Position4: Euro -41.3 million (excluding IFRS 16 effect of Euro 12.1 million and debt for acquisitions for Euro 1 million);

Elica Group Operating Performance

Revenue at Euro 473.2 million (-13.7% vs FY 2022), due to the persistent decline in demand, mainly stemming from the uncertainty generated by the economic slowdown, worsened by the high cost of money and the ongoing geopolitical tensions. This situation has significantly impacted both the Cooking and Motor segments.

The Cooking division, which accounts for 77% of total revenue, reports a contraction of -13.7% (-12.8% at constant scope and exchange rates), slightly improving on the first nine months of the year. Continued weak market demand compared to the previous year, together with significant promotional activity and reduced consumer purchasing power, has led to a declining price mix, which has impacted the Own Brands area. We have however seen in the last quarter OEM and NAR Own Brand business growth, thanks to the distribution strategy and the new commercial

¹ The value was adjusted considering the extraordinary negative effects from the reorganisation of the Cooking Business Unit for Euro 0.4 million, Euro 1.5 million for other reorganisation costs, and Euro 0.8 million of services expenses.

² The value was adjusted considering the extraordinary effects in line with EBITDA.

³ The indicated value was adjusted for the extraordinary effects in line with EBITDA and EBIT, in addition to the tax effect.

⁴ The value indicated is net of the IFRS 16 effect and of the payables for investment acquisitions, as outlined in the NFP table.

agreements.

The Motors division, which accounts for 23% of total revenue, reports a contraction of -14.5% (-14.6% at constant scope and exchange rates). The sales numbers are considered in view of the significant heating segment slowdown emerging in the third quarter, which impacted also Q4. This follows the changes to the incentive rules and the effect of the announcement of the legislation, together with the OEM customer stock reduction measures.

Americas revenue saw organic growth of +9.6% in Q4 2023, thanks to the entry of new OEM channel customers, but also as a result of the consolidation of the new own brand distribution companies: AG International for Canada and SouthEast Appliance Inc (SEA) for a section of North America.

• Adjusted EBITDA at Euro 48.1 million (-15% vs FY 2022), compared to Euro 56.6 million in the previous year. Despite weak demand and ongoing pricing pressure, EBITDA margin remains stable, with a margin on revenues of 10.2% (10.3% in FY2022).
• Adjusted EBIT at Euro 24.3 million (-26.5% vs FY 2022), compared with Euro 33.0 million in the previous year, with a margin on revenues of 5.1% (6% in FY2022). Despite weak industry dynamics and declining volumes, the flexibility of the production footprint has ensured a solid operating margin.

Net Financial Income/(Expense) at Euro -6.4 million compared with Euro -1.5 million in the same period of the previous year. The increase relates both to currency movements (principally regarding the Ruble) and the increased net financial expense as a result of the rise in interest rates on the variable portion of the debt.

Adjusted at Euro 13.4 million, compared to Euro 22.5 million in 2022

Adjusted Group Net Profit at Euro 11.9 million, compared to Euro 20.9 million in 2022. The Minorities profit was Euro 1.5 million.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

Net Profit

In Euro thousands	FY 2023	% revenue	FY 2022	% revenue	23 Vs 22 %
Revenue	473,204		548,574		(13.7%)
Adjusted EBITDA	48,074	10.2%	56,565	10.3%	(15.0%)
EBITDA	45,404	9.6%	50,849	9.3%	(10.7%)
Adjusted EBIT	24,279	5.1%	33,037	6.0%)	(26.5%)
EBIT	21,538	4.6%	27,321	5.0%	(21.2%)
Net financial income (expense)	(6,397)	(1.4%)	(1,462)	(0.3%)	(337.6%)
Income taxes	(3,849)	(0.8%)	(7,679)	(1.4%)	49.9%
Profit from continuing operations	11,292	2.4%	18,180	3.3%	(37.9%)
Adjusted Net Profit	13,392	2.8%	22,524	4.1%	(40.5%)
Net profit	11,292	2.4%	18,180	3.3%	(37.9%)
Adjusted Group Net Profit	11,896	2.5%	20,953	3.8%	(43.2%)
Group Net Profit	9,796	2.1%	16,608	3.0%	(41.0%)
Earnings/(loss) per share on continuing operations and discontinued operations (Euro/cents)	15.74		26.47		(40.5%)
Diluted earnings/(loss) per share on continuing operations and discontinued operations (Euro/cents)	15.74		26.47		(40.5%)

In Euro thousands	4Q 2023	% revenue	4Q 2022	% revenue	23 Vs 22 %
Revenue	113,050		129,547		(12.7%)
Adjusted EBITDA	10,624	9.4%	13,312	10.3%	(20.2%)
EBITDA	9,246	8.2%	11,059	8.5%	(16.4%)
Adjusted EBIT	4,881	4.3%	7,428	5.7%	(34.3%)
EBIT	3,433	3.0%	5,175	4.0%	(33.7%)
Net financial income (expense)	(2,118)	(1.9%)	(1,306)	(1.0%)	(62.2%)
Income taxes	(696)	(0.6%)	(158)	(0.1%)	(340.5%)
Profit from continuing operations	619	0.5%	3,711	2.9%	(83.3%)
Adjusted Net Profit	1,737	1.5%	5,424	4.2%	(68.0%)
Net profit for the period	619	0.5%	3,711	2.9%	(83.3%)
Adjusted Group Net Profit	1,332	1.2%	5,018	3.9%	(73.5%)
Group Net Profit	214	0.2%	3,305	2.6%	(93.5%)
Earnings/(loss) per share on continuing operations and discontinued operations (Euro/cents)	0.39		5.32		(92.7%)
Diluted earnings/(loss) per share on continuing operations and discontinued operations (Euro/cents)	0.39		5.32		(92.7%)

Elica Group Equity and Financial Performance Analysis

Adjusted Net Financial Position

at Euro -41.3 million at December 31, 2023 (net of the IFRS 16 effect of Euro -12.1 million and the debt for the acquisition of investments for Euro 1 million).

The main impacts on the net financial position at December 31, 2023 were from:

• adequate working capital management through strategic initiatives,

Elica S.p.A.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

4 Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

including the "Supply Chain Finance Solution" programme;

• the negative impact from the payment (Euro -7.0 million) for the final tranche for the acquisition of the companies E.M.C. S.r.l. and CPS S.r.l., now merged into EMC-Fime and the tranche relating to the acquisition of Airforce.
• Capex of Euro -16.1 million (excluding IFRS 16 effect). The reduction is the result of a proper balance between financial management and investments focused on innovation and product development.
• the execution of the share buy-back plan for approx. Euro -1.2 million.
• the cash out for the completion of the reorganisation of the Italian industrial footprint and completion of the industrial footprint restructuring in Poland for Euro -3.5 million.
• to the distribution of a dividend in the total amount of Euro -4.4 million.

The leverage at 0.9x5 increased slightly on December 31, 2022 (0.6x). The solidity of the net financial position is a key factor supporting the Group's strategic plan.

Operating FCF at Euro 18.8 million, reducing on Euro 34.1 million in 2022. The percentage on revenues decreased from 6.2% to 4.0%.

In Euro thousands	31/12/2023	31/12/2022	Changes
Cash	39,403	67,727	(28,324)
Bank loans and borrowings (current)	(43,467)	(42,812)	(655)
Bank loans and borrowings (non-current)	(37,236)	(54,774)	17,538
Adjusted Net Financial Position	(41,300)	(29,859)	(11,441)
Lease payables IFRS 16 (current)	(4,185)	(4,192)	7
Lease payables IFRS 16 (non-current)	(7,944)	(9,831)	1,887
Adjusted Net Financial Position - Including IFRS 16 impact	(53,429)	(43,882)	(9,547)
Other payables for purchase of investments	(1,000)	(8,021)	7,021
Net Financial Position	(54,429)	(51,903)	(2,526)

Managerial Working Capital

The percentage on annualised revenue was 2.2% in 2023, increasing on 1.9% in 2022.

In Euro thousands	31/12/2023	31/12/2022	Changes
Trade receivables	26,731	48,491	(21,760)
Inventories	90,874	101,453	(10,579)
Trade payables	(107,071)	(139,571)	32,500
Managerial Working Capital	10,534	10,373	161
% annualised revenue	2.20%	1.90%
Other net assets/ liabilities	217	(12,592)	12,810
Net Working Capital	10,751	(2,219)	12,971

⁵ In the leverage analysis, rolling EBITDA was used in order to ensure a more accurate and reliable assessment.

Elica S.p.A.

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

Significant events in 2023 and subsequent events

February 14, 2023 - the Board of Directors of Elica S.p.A. approved the additional periodic disclosure for the fourth quarter of 2022, prepared according to IFRS and the 2022 preliminary consolidated results.

March 16, 2023 - the Board of Directors of Elica S.p.A. approved the consolidated results at December 31, 2022 and the statutory financial statements at December 31, 2022, prepared in accordance with IFRS, in addition to the Directors' Report.

April 19, 2023 - Elica extends its cooking segment product offer, in line with the 2023 objectives, and announces a strategic partnership with Ilve.

April 27, 2023 - the Shareholders' Meeting of Elica S.p.A., meeting in ordinary session, approved the 2022 Annual Accounts of Elica S.p.A., the Directors' Report, the Non-Financial Report and viewed the Board of Statutory Auditors' Report and the Independent Auditors' Report. The Shareholders' Meeting also noted the consolidated results for 2022. On the same date, the Board of Directors of Elica S.p.A. approved the additional periodic disclosure for the first quarter of 2023, prepared according to IFRS.

Simultaneously, the third tranche of the Elica ordinary share Buyback plan concluded, announced to the market on February 14, 2023 and launched on February 15, 2023, in execution of the Shareholders' Meeting resolution of April 28, 2022, and a new Buyback plan was launched, for a maximum purchasable number of shares of 240,000 (approx. 0.4% of the subscribed and paid-in share capital), authorised by the Shareholders' Meeting of April 27, 2023.

May 18, 2023 - Elica S.p.A. and Banco BPM agreed a Sustainability Linked Loan to fund Elica's investment plan. As part of its global sustainable development plan, Elica will benefit from credit lines with a total value of Euro 30 million. In Elica's case, the ESG KPI identified concerns the increase in the percentage of energy derived from renewable sources in relation to total energy used.

June 23, 2023 - the Board of Directors of Elica S.p.A. called the Ordinary Shareholders' Meeting to consider the change to the By-Laws. The proposed amendments mainly concern the forms of participation, calling and hosting of the meetings of the Company's boards, in order to better govern the right to utilise remote means of communication and the appointment of the sole designated representative.

July 5, 2023 - pay-out of a dividend of a unitary amount of Euro 0.07 for each of the 63,322,800 ordinary shares outstanding, net of the treasury shares held at the coupon date and gross of statutory withholdings.

September 2023 - Elica S.p.A., in partnership with ILVE, continues to expand in the United States and opens the new direct distributor "Southeast Appliance" (SEA). As part of "Boots on ground" project, SEA has an ambitious goal of bringing quality, innovation and reliability to every household, helping to redefine standards of excellence.

October 31, 2023 – concluded the first tranche of the Elica ordinary share Buyback plan, announced to the market on April 27, 2023 and launched on May 2, 2023, in execution of the Shareholders' Meeting resolution of April 27, 2023. In the period between October 17 and 31, 2023, the company acquired 36,013 treasury shares, at an average price weighted for volumes of Euro 1.79 per share, for a total value of Euro 64,436.

November 2, 2023 - agreement finalised to fully acquire AG International, the distribution company for the Elica and Kobe brands in Canada.

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano

AN - ITALY

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

January 30, 2024 - sponsorship signed with Ducati's Corse team, ahead of the start of the 2024 Moto GP world championship. Elica will officially debut with Ducati Corse at the Qatar Grand Prix, to be held on March 8-10,2024.

***

Outlook

In 2023, the significant contraction in demand, with the consequent drop in volumes, alongside the increasingly aggressive market competition related to the stepping up of promotional activities, have imposed significant challenges. We add to this already complicated situation the sudden decline in the Motors' segment, mainly as a result of slowing residential demand and the regulatory uncertainty stemming from the energy transition. Despite this, the Group has completed all of its planned initiatives, in line with expectations, and has managed to protect margins thanks to a resilient business model and effective G&A cost management.

The outlook for the coming months is for a further decline in demand, both for the Cooking and Motors segments, and a contracting average market price due to the sharp levels of competition. The Group however remains committed to protecting market share and the operating margin, also thanks to a complete Aspiration segment range and the extension of the Cooking segment range - such as for example "LHOV" - and the opportunities emerging in the Motors segment, such as the sale of heat pumps. In order to support the launch of new products and the brand repositioning, in addition to laying the foundations for the resumption of revenue growth, 2024 shall feature significant investment on the various Group markets.

Statement pursuant to Article 154-bis, paragraph two, of the Consolidated Finance Act

The Corporate Financial Reporting Officer Mr. Emilio Silvi declares, pursuant to Article 154-bis, second paragraph of Legislative Decree No. 58/98, that this press release corresponds to the underlying accounting documents, records and accounting entries.

***

Elica, a market player for over 50 years, is the leading global manufacturer of kitchen aspiration systems, thanks to the production of range hoods and extractor hobs. It is also the leading European manufacturer of electric motors for home appliances and heating boilers. Chaired by Francesco Casoli and led by Giulio Cocci, the Group has seven plants, including in Italy, Poland, Mexico and China and employs approx. 3,000 people. A meticulous care for design and a judicious choice of high-quality materials and cutting-edge technology to guarantee maximum efficiency and low energy consumption make the Elica Group the prominent market figure it is today. This has enabled the Group to revolutionise the traditional image of kitchen extractor systems: they are no longer seen as a simple accessory but as a design element that improves the quality of life.

Elica S.p.A.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

7 Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

For further information:

Investor Relations Elica S.p.A.: Francesca Cocco Lerxi Consulting – Investor Relations

Tel: +39 (0)732 610 4205 E-mail: investor-relations@elica.com

Elica S.p.A.: Michela Popazzi Corporate & Internal Communication Specialist Mob: +39 345 6130420 E-mail: m.popazzi@elica.com

Havas PR: Valentina Burlando Valentina.burlando@havaspr.com Mob.+39 335.6182360 Giulia Bertelli Giulia.bertelli@havaspr.com Mob. +39 340.1453906

Elica S.p.A.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

Definitions and reconciliations

Definitions

EBITDA is the operating result (EBIT) plus amortisation and depreciation and any impairment losses on Goodwill, brands and other tangible and intangible assets.

EBIT is the operating result as reported in the consolidated Income Statement.

Adjusted EBITDA is EBITDA net of the relative adjustment items.

Adjusted EBIT is EBIT net of the relative adjustment items.

Net financial income/(expense) is the sum of the Share of profit/(loss) from Group companies, Financial income, Financial Charges and Exchange rate gains and losses.

The adjusted Result is the result for the period, as published in the Consolidated Income Statement, net of the relative adjustment items.

The adjusted Group Result is the result for the period attributable to the owners of the Parent, as published in the Consolidated Income Statement, net of the relative adjustment items.

Adjustment items: earnings items are considered for adjustment where they: (i) derive from nonrecurring events and operations or from operations or events which do not occur frequently; (ii) derive from events and operations not considered as in the normal course of business operations, as is the case for impairments, disputes considered atypical in terms of frequency and amount and restructuring charges, of the costs for M&A's, whether executed or not, and any rightsizing costs.

The earnings per share for 2023 and 2022 was calculated by dividing the Profit attributable to the Group, as defined in the Consolidated Income Statement, by the number of outstanding shares at the respective reporting dates. The number of shares outstanding at period-end differs from that at December 31, 2022 due to the launch of the treasury share buy-back plan. The earnings (loss) per share so calculated does not match the earnings (loss) per share as per the consolidated Income Statement, which is calculated as per IAS 33, based on the average weighted number of shares outstanding.

Managerial Working Capital is the sum of Trade receivables with Inventories, net of Trade payables, as presented in the Consolidated Statement of Financial Position.

Net Working Capital is the amount of Managerial Working Capital and Other net receivables/payables.

Other net receivables/payables comprise the current portion of Other receivables and Tax Receivables, net of the current portion of Provisions for risks and charges, Other payables and Tax payables, as presented in the Consolidated Statement of Financial Position.

The Adjusted Net Financial Position is the sum of Cash and Cash equivalents, less Current and Non-current bank loans and borrowings, as reported in the Statement of Financial Position.

The Adjusted Net Financial Position - Including IFRS 16 Impact is the sum of the Adjusted Net Financial Position and current and non-current lease payables from application of IFRS 16, as

Elica S.p.A. Via Ermanno Casoli, 2 60044 Fabriano

AN - ITALY

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

reported in the Consolidated Statement of Financial Position.

The Net Financial Position is the sum of the Adjusted Net Financial Position - Including IFRS 16 Impact and of the liabilities included among other payables arising in relation to the acquisition of the new companies, belonging to the consolidation scope or of additional shares in existing subsidiaries. The result coincides with the Consob definition of the Net Financial Position

Reconciliations

In Euro thousands	2023	2022	4Q 2023	4Q 2022
Operating profit – EBIT	21,538	27,321	3,433	5,175
(Impairment losses on Tangible and Intangible assets)	139		71
(Amortisation & Depreciation)	23,727	23,528	5,742	5,884
EBITDA	45,404	50,849	9,246	11,059
Capital gain from patent sharing		(3,200)
Other revenue		(3,200)
Cooking production reorganisation	385	6,619	136	523
Changes in inventories finished/semi-finished goods	45
Raw materials and consumables	126	419	58	70
Services	214	1,683	78	332
Personnel expense		95		95
Other operating expenses and accruals		154		27
Restructuring charges		4,269
Realised and unrealised M&A's	274	529	180	529
Services	274	529	180	529
Other reorganisations and Rightsizing	1,511	1,768	635	1,201
Personnel expense	1,030	409	607	409
Restructuring charges	481	1,359	28	792
New Cooking Vision	279		278
Services	279		278
Others	221		149
Services	195		132
Other operating expenses and accruals	26		17
EBITDA adjustment items	2,670	5,716	1,378	2,253
Adjusted EBITDA	48,074	56,565	10,624	13,312

in Euro thousands	2023	2022	4Q 2023	4Q 2022
Operating profit – EBIT	21,538	27,321	3,433	5,175
EBITDA adjustment items	2,670	5,716	1,378	2,253
EBIT adjustment items	2,741	5,716	1,448	2,253
Adjusted EBIT	24,279	33,037	4,881	7,428

Elica S.p.A.

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

10 Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN

In Euro thousands	2023	2022	4Q 2023	4Q 2022
Net profit	11,292	18,180	619	3,711
EBIT adjustment items	2,741	5,716	1,448	2,253
Income taxes on adjusted items	(641)	(1,372)	(331)	(541)
Adjusted Net Profit	13,392	22,524	1,737	5,423
(Profit attributable to non-controlling interests)	(1,496)	(1,572)	(405)	(406)
(Adjustments to non-controlling interests)	-	-	-	-
Adjusted Group Net Profit	11,896	20,953	1,332	5,018
			2023	2022
Group Net Profit (in Euro thousands)			9,796	16,608
Outstanding shares at year-end			62,239,361	62,745,631
Earnings (loss) per share (Euro/cents)			15.74	26.47

	4Q 2023	4Q 2022
FY Earnings (loss) per share (Euro/cents)	15.74	26.47
9M Earnings (loss) per share (Euro/cents)	15.35	21.15
	0.39	5.32

in Euro thousands	31/12/2023	31/12/2022	31/12/2022
Other receivables	5,751	5,521	5,521
Tax assets	23,417	27,473	27,473
(Provision for risks and charges)	(5,815)	(14,344)	(14,344)
(Other payables)	(16,914)	(23,075)	(23,075)
(Tax liabilities)	(6,221)	(8,168)	(8,168)
Other net assets / liabilities	218	(12,593)	(12,593)

Via Ermanno Casoli, 2 60044 Fabriano AN - ITALY

11 Phone + 39 0732 6101 Fax +39 0732 610249 Certified e-mail elicaspa@sicurezzapostale.it

elica.com SDI Code – Y1NM1XC

BUSINESS REGISTER No. and TAX CODE AN 00096570429 SHARE CAPITAL EURO 12,664,560 FULLY PAID-IN