Elica — Investor Presentation 2015

Jul 9, 2015

Equita Mid&Small Cap Event Frankfurt, July 9, 2015

Agenda

! Company Overview

Elica Corporation Strategy

Performance Development & Guidance 2015

Q1 Interim Results

Elica Corporation

19 Mln Hoods + Motors

Cooking Net Sales: Own Brand 41% Client Brand 59 %

2' & 3' Player produce respectively 25% & 50% less than Elica

Products History

LEGO, 1970 MENHIR, 1999 Elica Design Center

SPACE, 2008 Elica Design Center

BUBBLE, 2010 design Stefano Giovannoni

OM, 2004 Elica Design Center

FEEL, 2012 design Fabrizio Crisà

STAR, 2006 Elica Design Center

EDITH, 2014 design Fabrizio Crisà

Band Portfolio

Unique world wide player

*"Rest of the World" Revenues included

FY'14

Cooker Hoods Industry Unit Shipments* Volume Data

Western Europe	(0.4)%
Eastern Europe (including CIS)	(0.1)%
Europe	(0.2)%
North America	4.6%
Latin America	(2.6)%
Americas	1.4%
Rest of the World	(3.1)%
World	(1.6)%

Agenda

Company Overview

! Elica Corporation Strategy

Performance Development & Guidance 2015

Q1 Interim Results

Elica Corporation Strategy

New Sales Organizations to Capture the Market

Elica Corporation Strategy

New Product Innovation

NEW DESIGN STREAM SYSTEM MARIE

New Design

Products launched in Eurocucina are 63.3% of the Q4 growth*

Marginality Level of Products launched +4 p.p.*

Handmade in Germany for high-end German Market

UNIQUE GERMAN HANDMADE TAILORMADE FOR PERFECTION ADVANCED PERFORMANCES

GUTMANN Brand Positioning

BRAND POWER

Strongest brand awareness among competitor's premium brands: 4.7%* 100% higher than second player

BRAND OWNERSHIP

Strongest customers perception in "Made in Germany"

GUTMANN consumer perception is translated as competitive advantage: Incidence of Intention to Buy 54%*

Not Only Cooker Hoods: Energy Saving Road-Map

In view of new ErP* regulation introduction, starting 2015, developed top-in -class energy saving Hoods and Motors is a strategic advantage

Elica Corporation Strategy

From Kitchen to Living Environment Care

In the Kitchen In the House and Office

SNAP

The first AIR ACTIVE BALANCER

3 sensors that act both independently and in combination between them

Air Quality Sensor Humidity Sensor Temperature Sensor

Vodafone Italy Partnership

Starting from 2015

FIRST STEP APP development for SNAP data and functions remote management

SECOND STEP Development of M2M SNAP version, supported by a Vodafone SIM

Elica Corporation Strategy

Location

Elica World Class Manufacturing

Rightsizing

Focus on Sourcing & Service

Elica Corporation Strategy

Becoming less Italian and more International Organisation

Elica Corporation Employees Evolution

Agenda

Company Overview

Elica Corporation Strategy

! Performance Development & Guidance 2015

Q1 Interim Results

Guidance 2015 Confirmed

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

Performance Development & Guidance 2015

* Before Restructuring Costs

Expected External Environment Impact on Business Dimension

2015 key EBITDA drivers evolution

	H1 '15	H2 '15
Volume/Price/Mix	=	+
Production efficiency	+	++
Currency	+	+
Cost efficiency	=	+
EBITDA*	+7∼ +14%

Agenda

Company Overview

Elica Corporation Strategy

Performance Development & Guidance 2015

! Q1 Interim Results

Q1' 15 Highlights

• " While Overall market demand remains weak -2.5% world wide, Western Europe and North America show positive signs of growth
• " Group Net Sales almost flat (-0.5%), impacted by OEM decrease and Japan soft demands, counterbalanced by Own brand business growth and FX positive impact
• " EBITDA growing by 6.3%, in line with business seasonality
• " Net Result doubling compared to Q1 2014
• " Net Financial Position affected by non recurring charges cash out

Q1' 15 Cooker Hoods Industry Unit Shipments*

Volume Data_Change % vs. Y-1

	FY '14	Q1 '15
Western Europe	(0.4)%	2.5%
Eastern Europe (including CIS)	(0.1)%	(6.4)%
Europe	(0.2)%	(1.3)%
North America	4.6%	4.0%
Latin America	(2.6)%	(3.4)%
Americas	1.4%	0.6%
Rest of the World	(3.1)%	(4.0)%
World	(1.6)%	(2.5)%

Elica Sales Q1 2015

Sales Trend vs. '14

• Cooking 0.3%
• Own Brands: increase 1.7%
• Client brands: decrease -1.6%
• Electric Motors slightly decrease (-1.0%) except for heating segment

Total	(0.5)%
Rest of the World	(2.9)%
Americas	11.2%
Europe	(2.4)%

Elica Brand Sales Q1 2015

	Q1 '15
Europe	16.7%
Americas	26.5%
Rest of the World	10.7%
Total	15.9%

Q1'15 Consolidated Income Statement

€M	Q1'15	Q1'14	Δ%
Net Sales	96.3	96.7	(0.5)%
EBITDA before restructuring charges %	6.2 6.4%	5.9 6.1%	5.1% 0.3 p.p.
EBITDA %	6.1 6.3%	5.7 5.9%	6.3% 0.4 p.p.
EBIT %	1.9 1.9%	1.7 1.7%	10.9% 0.2 p.p.
Net Result %	1.3 1.4%	0.7 0.7%	106.1% 0.7 p.p.
EPS* – Euro cents	1.9	0.89	111.2%

* EPS as at December 31 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.

Q1 '15 Marginality key drivers

Change vs. 2014

	Q1 '15
Volume/Price/Mix	-
Production efficiency	+
Currency	+
Cost efficiency	+
EBITDA*	0.3

Net Working Capital as of March, 31

€M

	12M'13 Q1'15	12M'13 12M'14	043 12M'12** Q1'14	ΔQ1 '15/'14
Trade receivables % on annualized sales	68.4 17.7%	63.5 16.2%	75.5 19.5%	(7.1) (1.8) p.p.
Inventories % on annualized sales Trade payables % on annualized sales	65.2 16.9% (96.2) (25.0)%	57.6 14.7% (88.2) (22.5)%	57.1 14.8% (89.0) (23.0)%	8.1 2.1 p.p. 7.2 (2.0) p.p.
Managerial Working Capital % on annualized sales	37.4 9.7%	32.8 8.4%	43.6 11.3%	(6.3) (1.6) p.p.
Short term assets & liabilities % on annualized sales	(4.9) (1.3)%	(11.9) (3.0)%	(14.9) (3.8)%	10.0 2.5 p.p.
Net Working Capital % on annualized sales	32.4 8.4%	21.0 5.4%	28.7 7.4%	3.7 (1.0) p.p.

Consolidated Balance Sheet as of March, 31 €M

	2015	2014		2015	2014
Net Operating Fixed Assets	155.8	147.7	Net Debt (Cash)	65.0	62.0
Net Working Capital	32.4	28.7	Group Equity Minorities	117.2 5.7	110.6 4.5
Net Financial Assets	(0.3)	0.7	Total Shareholders' equity	122.9	115.1
Net Capital Employed	187.9	177.1	Total Sources	187.9	177.1

Consolidated Cash Flow as of March, 31 €M

	Q1 '15	Q1 '14
Operating Cash Flow	(7.4)	(2.7)
CapEx	(5.7)	(2.6)
Cash Flow before financial activities	(13.1)	(5.3)
Financial operations & others	(1.7)	0.0
Cash Flow to shareholders	(14.8)	(5.3)

NFP

Net Financial Position Evolution €M

* Managerial Working Capital

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.