Fila — Interim / Quarterly Report 2015

Nov 13, 2015

9M 2015 Results

1

Disclaimer

This document has been prepared by F.I.L.A. S.p.A. ("F.I.L.A." or the "Company") exclusively with the aim of assisting you to understand and assess the activities of F.I.L.A.. This document does not constitute or form part of any offer or invitation to sell, or any solicitation to purchase any shares or any other kind of financial instruments issued or to be issued by F.I.L.A . In particular, this document and the information contained herein do not constitute an offer of securities for sale in the United States and are not for publication or distribution to US persons or in the United States (within the meaning of Regulation S under the United States Securities Act of 1933, as amended (the "Securities Act").

The data and information contained in this document are subject to variations and integrations. Any estimates, projections and forecasts contained herein, involving significant elements of subjective judgment and analysis, which may or may not be correct, are for illustrative purposes only and is not a reliable indicator of future performance. Actual events or conditions may differ materially from assumptions and some risks and uncertainties may not have been taken into account. The document may include information related to past performance. Past performance is not a reliable indicator of future performance. Although F.I.L.A reserves the right to make such variations and integrations when it deems necessary or appropriate, F.I.L.A assumes no affirmative disclosure obligation to make such variations and integration and no reliance should be placed on the accuracy orcompleteness of the information contained in this document. None of FILA, any of its affiliates, or any of its direct or indirect shareholders, or any of its or their respective members, consultants, employees or agents provides any representation, guarantee or warranty (express or implied) or assumes any responsibility with respect to the authenticity, origin, validity, accuracy or completeness of the information and data contained herein or assumes any liability or obligation for damages, losses or costs (including, without limitation, any direct or consequential losses) resulting from any errors or omissions in this presentation and the use of this document or of its contents or otherwise arising in connection therewith.

This document has been furnished to you solely for your information and is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation.

FILA 9M 2015 Highlights

FILA continues to grow in 9M2015, registering a demand acceleration in all the reference markets, primarily North America, Mexico and Mediterranean Europe, in particular Italy, representing more than 74% of the Core Business turnover.

• • Core Business Sales +18,4% (organic growth, +9,7%)
• •Strong results of the school campaign in North America
• •Market share growth in Italy in all the covered channels
• •Better Sales Mix in Mexico
• •Adjusted EBITDA +20,9%, registering a growth more than proportional than the Sales organic growth.
• • Non-recurring cashless negative impact of 45,8mln Euro on financial charges in 9M 2015 concerning the recognition of the fair value of Space S.p.A. Equity at May 31, 2015
• •Adjusted Net Profit +21,0%
• •Quarterly Working Capital Increase to support the Sales growth and in line with historical seasonal trend
• •Net financial position at 30.1mln Euro at the end of September 2015.
• • Indian market presence consolidated with acquisition of control of Writefine Products Private Limited in October 2015. The company will be fully consolidated from the beginning of November 2015

FILA: 9M 2015 Revenues

REPORTED CORE BUSINESS SALES – 9M2015

(€ million)

9M2015 SALES BREAKDOWN BY GEOGRAPHY

•Organic Growth + 9,7% (net of FX and M&A effect)

• Increasing contribution from North America, Center South America and Italy, registering respectively +18% , +10% +and 9% of Organic Growth

• Growth in Pencils +32% and other Creativity Instruments Turnover +11% compared to the 9M2014, increasing their contribution on total Core Business Sales.

• WFPL sales not included. the Sales after the last transaction will be fully included starting from November 2015

9M2015 SALES BREAKDOWN BY PRODUCT LINE

FILA : 9M 2015 EBITDA – Working on profitability

ADJUSTED NET INCOME – 9M 2015

• • EBITDA +20,9% more than proportional than Organic Turnover Growth
• • 3.0mln Euro of extraordinary costs in 9M2015, mainly related to the Space S.p.A merger and listing expenses.
• • 3,3mln Euro extraordinary costs in 9M2014 ,mainly related to consultancy and due diligence for M&A activities

Adjusted Net profit + 21% in 9M 2015 to 20.7mln Euro

• Normalization made at the financial results management level refers to the non-recurring financial cashless charges related to the accounting of the fair value of Space S.p.A. equity at May 31st 2015 (45.8mln Euro) and to the option stipulated by the parent company for the forward purchase of Indian rupees related to the WFPL deal. (0.4mln Euro).
• The normalization of the Group Result in 9M2014 refers to the above normalization, net of tax.

FILA: Continuous cash generation

NORMALIZED NET DEBT – 2014 YEAR END and 9M 2015

• • Space deal positive contribution to 9M2015 Net Debt of 64,8mln Euro
• •Operating CF before TWC adjustment equal to 27,3 mln Euro
• • Trade working capital cash absorbtion of 56,1 mln Euro (17 mln €less than June 2015) ralated to:
• ^Iincrease in inventories functional to the sustaining of future sales volumes and to a timely fulfillment of customer orders
• Trade receivable increase related to business seasonality and core business sales increase
• Space non-recurringTrade Payable payment
• • Capex for 5,7 mln Euro due to new investment in tangible and intangible
• •Interest paid for 3 mln Euro

QUARTERLY TWC AND NET DEBT

(€ million)

* Net from 64,8 Net Debt Contribution from Space merger

Appendix

FILA 9M 2015 Income Statement

( ) i l l ion € m	9 M 2 0 1 4	% les Sa on	9 M 2 0 1 5	% les Sa on
& P R O F I T L O S S
les Co Bu ine Sa re s ss	1 8 3, 9		2 1 7, 8
he Ot r r ev en ue s	2, 4		5, 5
l re To ta ve nu es	1 8 6, 2		2 2 3, 3
f ia ls d l ies Co Ra M Su st at or w er an p p	( ) 7 8, 1	% -4 2, 5	( ) 9 9, 4	% -4 5, 6
( de ) inv Inc to rea se cre as e en ry	4, 9	% 2, 7	1 0, 4	% 4, 8
f d f h d p Co Se ice Us T ir ies As sts t ts or rv s a n e o ar se	( ) 4 3, 6	-2 3, 7 %	( ) 5 0, 3	-2 3, 1 %
l Pe Co sts rso nn e	( ) 3 5, 2	-1 9, 2 %	( ) 4 0, 3	-1 8, 5 %
he Ot Op ing Co t sts r era	( ) 3, 5	-1, 9 %	( ) 5, 8	-2, 7 %
l o To ing ta at sts p er co	( ) 1 5 5, 6	-8 4, 6 %	( ) 1 8 5, 3	-8 5, 1 %
E B I T D A	3 0, 6	1 6, 6 %	3 7, 9	1 7, 4 %
iat ion d Am iza ion De t t p rec an or	( ) 4, 1	-2, 2 %	( ) 1 5,	-2, 3 %
ite W -D r ow ns	( ) 0, 2	-0, % 1	( ) 0, 8	-0, % 4
E B I T	2 6, 4	% 1 4, 3	3 2, 1	% 1 4, 7
/ l F ina ia inc nc om e ex p en se s	( ) 3, 1	% -1, 7	( ) 5 0, 7	% -2 3, 3
/ fro ho d Inc iat ity at et om e ex p en se s m as so c es eq m u	0, 4	0, 2 %	0, 5	0, 2 %
P B T	2 3, 6	1 2, 9 %	( ) 1 8, 2	-8, 4 %
Ta xe s	( ) 8, 4	-4, 6 %	( ) 1 0, 2	-4, 7 %
f ( los ) f c Ne it inu ing ing iv it ies t p t at t ro s o on op er ac	1 5, 2	8, 3 %	( ) 2 8, 4	-1 3, 0 %
f ( los ) f d d o Ne it isc inu ing iv it ies t p t t t ro s o on e p era ac	( ) 0, 1	0, 0 %	0, 5	0, 2 %
f ( ) f t l n it los he io d To ta et p ro s o p er	1 1 5,	8, 2 %	( ) 2 9 7,	-1 2, 8 %
( ) l n f it los i bu b le l l ing int To ta et att ta to tro sts p ro s r no n c on ere	0, 3	% 0, 2	0, 4	% 0, 2
( ) i la 's t l n f it los f t he io d F Gr ot et ou p a p ro s o p er	1 4, 9	% 8, 1	( ) 2 8, 2	% -1 3, 0
( ) € m i l l ion	9 2 0 1 4 M	% Sa les on	9 2 0 1 M 5	% Sa les on
& P L A D J U S T M E N T S
R E P O R T E D E B I T D A	3 0, 6	1 6, 6 %	3 7, 9	1 7, 4 %
l d j To A ta tm ts us en	3, 3		3, 0
A D J U S T E D E B I T D A	3 3, 9	1 8, 4 %	4 0, 9	1 8, 8 %
R E P O R T E D N E T P R O F I T	1 4, 9	8, 1 %	( ) 2 8, 2	( ) 1 3, 0 %
l A d j To ta tm ts us en	2, 2		4 8,
S O A D J U T E D N E T P R F I T	1 7, 1	9, 3 %	9 2 0, 7	9, % 5

FILA 9M2015 Balance Sheet

l l ) i i € m o n	2 0 1 4 A	9 2 0 M 1 5
B A L A N C E S H E E T
b l I i t t n a n g e a s s e s	2 1, 3	2 0, 0
b l T i A t a n e s s e s g	2 5, 6	2 7, 3
i i l i d F F A t n a n c a x e s s e s	7, 5	8, 2
d i F A t x e s s e s	3 5 4,	5 5, 5
/ h b l O N C A L i i i i t t t t e r o n u r r e n s s e s a e s	1 0, 4	1 1, 5
I t n v e n o r y	9 2, 0	1 0 2, 5
d b l d h b l T R i O i t r a e e c e a e s a n e r r e c e a e s v v	7 6, 1	1 1 4, 1
d b l d h b l T O P t r a e p a y a e s a n e r a y a e s	( ) 4 9, 1	( ) 4 8, 2
d k i i l T W C t r a e o r n g a p a	1 1 9, 0	1 6 8, 4
h b l d i i i i O C A L t t t t e r u r r e n s s e s a n a e s	( ) 1, 6	( ) 0, 3
k l W i C i N t t e o r n g a p a	1 1 4 7,	1 6 8, 0
& d P i i F r o v s o n s u n s	( ) 1 1, 7	( ) 1 1, 8
/ d i b i l i i d d f i l C C A L I D t t t t t t r r e n a n n o r r e n s s e s a e s n e n e o r s p o s a u u	0, 0	0, 5
N E T C A P I T A L E M P L O Y E D	1 7 0, 4	2 2 3, 8
h h l d i S t a r e o e r s e q u y	( ) 1 1 2, 0	( ) 1 7 6, 9
l i i F I t t n a n c a n s r u m e n s	-	( ) 6, 1 7
l N F i i P i i t t e n a n c a o s o n	( ) 5 8, 4	( ) 3 0, 1
T O T A L N E T S O U R C E S	( ) 1 7 0, 4	( ) 2 2 3, 8

9

FILA 9M 2015 Cash Flow Statement

( ) i l l io € m n	9 M 2 0 1 4	9 M 2 0 1 5
C A S H F L O W
E B I T	2 6, 4	3 2, 1
d fo A j tm ts ta ts us en r n on m on e ry c os	4, 2	5, 9
d fo j A tm ts ta us en r xe s	( ) 2 5,	( ) 1 0, 6
h- f lo fro in iv i ie be fo ha in Ca N W C t t t s w m o p er a g ac s re c ng es	2 5, 4	2 7, 3
ha C in in ies to ng es ve n r	( ) 5, 1	( ) 1 0, 8
ha de b les he C in iva & tra t ng es re ce o rs	( ) 2 9, 0	( ) 0, 4 5
ha de b les & he C in tra t ng es p ay a o rs	6, 3	( ) 4, 8
ha de k l C in Tr W in Ca i ta ng es a or g p	( ) 2 7, 8	( ) 5 6, 1
/ ha he l b l C in ia i i ies t t a ts t ng es o r c ur re n ss e	( ) 2, 1	( ) 0, 1
ha in k in i l C t w ta ng es ne or g ca p	( ) 2 9, 9	( ) 5 6, 2
f Op in h- lo t er a ca s g w	( ) 4, 4	( ) 2 8, 9
b le d b le In in i in i tm ts ta ta ts ve s en ng an g as se	( ) 3, 9	( ) 5, 7
he O in t tm ts r ve s en	0, 0	0, 3
f fro h- lo inv Ca tm ts s w m es en	( ) 3, 9	( ) 5, 4
/ l bu Ca i in im ta t p cr ea se re rs em en	0, 6	-
de ds iv i D n	( ) 1, 5	( ) 0, 3
Ne in t te ts re s	( ) 3, 1	( ) 3, 0
h- f lo fro f Ca in in s w m an c g	( ) 4, 0	( ) 3, 3
he ha O t r c ng es	0, 5	( ) 0, 6
l c h- f low To ta as	( ) 1 1, 8	( ) 3 8, 2
f fe f E F X t o te ts c ra m ov em en	( ) 3, 3	1, 7
f in ia l p i io f ie is i io Ne Ne Co Ac Da t t t t te an c os n o w m p an s a s a q u n	( ) 2, 8	6 4, 8
ha l C in Ne F in ia Po i io t t ng es an c s n	( ) 1 7, 9	2 8, 3

FILA quarterly Core Business Sales and EBITDA

QUARTERLY CORE BUSINESS SALES AND REPORTED EBITDA

(€ million)

SummaryFinancials – Writefine Products Private Plc

• -In 2012, FILA invested in Writefine Products Private Plc (India) for a 18.5% stake
• -In October 2015, FILA in increases by 32.5% hits stake in WFPL, reaching a 51% of the company
• -WFPL will be fully consolidated from the beginning of November 2015
• -Indian market growth outpaces the more mature markets and is one of the highest potential markets for FILA
• -The operation will enable FILA to utilize its Indian production facilities to support global growth

K E Y F I N A N C I A L S
INR /m	20 13 A	20 A 14	9 M 20 14	9 M 20 15
Co Bu ine Sa les re s ss	1.7 19	2.3 00	1.6 77	2.1 99
EB ITD A	24 7	37 4	23 0	36 4
EB ITD A m in % arg	14 4% ,	16 2% ,	13 7% ,	16 6% ,
	De 20 13 c	De 20 14 c	N.A	Se be r 2 01 5 tem p
Ne Fin ia l p it ion t an c os	162 -	28 2 -		-34 0
€/m
Co Bu ine Sa les re s ss	22 1 ,	28 4 ,	20 4 ,	31
EB ITD A	3, 2	4, 6	2, 8	5, 1
EB ITD A m in % arg	14 4% ,	16 2% ,	13 7% ,	16 6% ,
	De 20 13 c	De 20 14 c	N.A	Se be r 2 01 tem 5 p
Ne Fin ia l p it ion t an c os	( ) 1, 9	( 7) 3,		( 4, 6 )

Note: key financials calendarized to December 31st of each year to take into account the fiscal year end of FILA. Based on EUR/INR exchange rate (P&L) of82,30 and 70,84 respectively for 9M 2014 and 9M 2015A and EUR/INR exchange rate (BS) of 76,72 and 73,48 respectively for Dec 2014 and Sept 2015Source: company data

FILA Shareholders

Total shares 38.661.347, of which : Ordinary shares 32.002.839, Class B shares 6.566.508 (enjoy three votes each in accordance with Article 127 sexies of Legislative Decree No. 58/1998), Sponsor Shares (Class C) 92.000Last update November 2nd 2015

Investor Relations F.I.L.A.Stefano De Rosa CFO/IR Officer – Francesca Cocco IRir@fila.it(+39) 02 38105206