Elica — Investor Presentation 2015

Sep 16, 2015

VII Italian Stock Market Opportunity Milan, September 16, 2015

Agenda

Elica sloughs off its skin

H1 Interim Results

Performance Development & Guidance 2015

Elica Corporation

ISMO, September 16, 2015

Unique world wide player

2015 Elica sloughs off its skin..... deeply

Launch of the Webserie Loft Story _May 15, 2015 Strengthen Global Brand Leadership

Summary 1° FLIGHT – (June 8 – July 20, 2015)
IMPRESSION WEB SERIE	49.19 Million
EPISODES VIEWS	765.191
CLICK ON LANDING PAGE	79.785
FACEBOOK ACTIVITIES	7.7 Million Impressions

Focus on Global Brand Leadership

Opening pavilion EXPO Save The Children May 5th 2015

Breathe Difference June, 18th 2015 With Michelangelo Pistoletto

Sillage: Marie for Save The Children

Breathe Difference Workshops > 100 people involved

Old Organization

Revolutionizing The Organization

Execution At Full Speed

Agenda

Elica sloughs off its skin

H1 Interim Results

Performance Development & Guidance 2015

H1 '15 Highlights

• While overall market demand remains weak -2.8% world wide, Western Europe and North America continue to show positive signs of growth
• Group Net Sales increase 3.8%, mainly due to own brands business growth and FX positive impact
• EBITDA* growing by 10.3%, positively influenced by enhanced industrial productivity, procurement activity and FX impact
• Net Result growing by 22.6%
• Net Financial Position at 63.8 million Euro, in line with the expectation, affected by non-recurring charges cash out

H1' 15 Cooker Hoods Industry Unit Shipments*

Volume Data_Change % vs Y-1

	Q2 '15	H1 '15
Western Europe	2.9%	2.7%
Eastern Europe (including CIS)	(10.1)%	(8.3)%
Europe	(2.9)%	(2.1)%
North America	4.5%	4.2%
Latin America	(3.0)%	(3.2)%
Americas	1.4%	1.0%
Rest of the World	(4.2)%	(4.1)%
World	(3.0)%	(2.8)%

Elica Sales H1 2015

Sales Trend vs. '14

• Cooking 3.1%
• Own Brands: increase 5.5%
• Client brands: increase 1.5%
• Electric Motors significant increase (8.1%) due to heating segment

	H1' 15	Q2' 15
Europe	2.3%	6.8%
Americas	17.3%	23.6%
Rest of the World	(2.0)%	(1.2)%
Total	3.8%	8.0%

ISMO, September 16, 2015

Cooking Revenues Breakdown Value data H1

Elica Brand Sales H1 2015

	H1 '15
Europe	13.9%
Americas	37.9%
Rest of the World	23.9%
Total	16.7%

H1 '15 Consolidated Income Statement

€M

	H1'15	H1'14	Δ%
Net Sales	203.2	195.7	3.8%
EBITDA before restructuring charges %	14.4 7.1%	13.0 6.7%	10.3% 0.4 p.p.
EBITDA %	13.4 6.6%	12.3 6.3%	8.8% 0.3 p.p.
EBIT %	4.9 2.4%	4.1 2.1%	20.2% 0.3 p.p.
Net Result %	1.6 0.8%	1.3 0.7%	22.6% 0.1 p.p.
EPS* – Euro cents	2.21	1.19	85.1%

* EPS as at June 30 is calculated by dividing the Net Result pertaining to the Group by the number of ordinary shares outstanding, excluding treasury shares at the same data.

H1 '15 Marginality key drivers

Change vs. 2014

	H1 '15
Volume/Price/Mix	-
Production efficiency	++
Currency	+
Cost efficiency	-
EBITDA*	1.3

Net Working Capital as of June, 30

€M

	12M'13 H1'15	12M'13 12 4	019 12M'12** H1'14	ΔH1 '15/'14
Trade receivables % on annualized sales	73.5 18.1%	63.5 16.2%	75.6 19.3%	(2.1) (1.2) p.p.
Inventories % on annualized sales	63.9 15.7%	57.6 14.7%	59.9 15.3%	4.0 0.4 p.p.
Trade payables % on annualized sales	(102.7) (25.3)%	(88.2) (22.5)%	(95.4) (24.4)%	(7.4) (0.9) p.p.
Managerial Working Capital % on annualized sales	34.6 8.5%	32.8 8.4%	40.1 10.3%	(5.5) (1.8)
Short term assets & liabilities % on annualized sales	(9.6) (2.4)%	(11.9) (3.0)%	(15.1) (3.9)%	p.p. 5.5 1.5 p.p.
Net Working Capital % on annualized sales	25.0 6.1%	21.0 5.4%	25.0 6.4%	0.0 (0.3) p.p.

Consolidated Balance Sheet as of June, 30 €M

	2015	2014		2015	2014
Net Operating Fixed Assets	156.8	149.9	Net Debt (Cash)	63.8	60.9
Net Working Capital	25.0	25.0	Group Equity	112.9	110.1
			Minorities	5.4	5.1
Net Financial Assets	0.3	1.2	Total Shareholders' equity	118.3	115.2
Net Capital Employed	182.1	176.1	Total Sources	182.1	176.1

Consolidated Cash Flow as of June, 30

	€M
--	----	--	--

	Q2 '15	Q2 '14	H1 '15	H1 '14
Operating Cash Flow	11.0	10.4	9.9	9.0
Restructuring Costs	(0.4)	(0.3)	(6.8)	(1.6)
CapEx	(4.4)	(5.4)	(10.1)	(8.1)
Cash Flow Before Financial Activities	6.2	4.6	(7.0)	(0.7)
Financial Operations & Others	(4.0)	(3.8)	(5.6)	(3.8)
Cash Flow to Shareholders	2.2	0.8	(12.6)	(4.5)	21

Net Financial Position Evolution

* Managerial Working Capital

Agenda

Elica sloughs off its skin

H1 Interim Results

Performance Development & Guidance 2015

Guidance 2015 Confirmed

• Group Net Sales from 1% to 3%
• EBITDA* from 7% to 14%
• Net Financial Position 50 M€

Performance Development & Guidance 2015

2015 key EBITDA drivers evolution

	H1 '15A	H2 '15E
Volume/Price/Mix	-	+
Production efficiency	++	++
Currency	+	+
Cost efficiency	-	+
EBITDA*	+7 +14%

Disclaimer

This presentation contains forwards-looking information and statements about Elica S.p.A and its Group. Forwardlooking statements are statements that are not historical facts. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, products and services, and statements regarding future performance.

Although the management of Elica S.p.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Elica are cautioned that forward-looking information and statements are subject to various risk and uncertainties, many of which are difficult to predict and generally beyond the control of Elica S.p.A.; that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking statements.

These risks and uncertainties include, but are not limited to, those contained in this presentation. Except as required by applicable law, Elica S.p.A. does not undertake any obligation to update any forward-looking information or statements.