Fila — Investor Presentation 2025

Mar 21, 2025

FY 2024 Results Presentation

21 marzo 2025

1. Highlights

• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

FY 2024 Highlights

FY 2024 RESULTS

• FILA 2024 results confirmed the positive trends in profitability, the strong growth in net profit and marked an acceleration in deleverage, also thanks to the sale of the 4.57% stake in DOMS
• Core Business Sales at €612.6m, –5.0% vs FY 2023 (-2.8% on a comparable FX basis), reflecting one-off SAP EWM disruption at Dixon USA in Q1, as well as the adverse currency effects in C&SA
• Adjusted EBITDA at €118.2m, +7.2% vs FY 2023 (+7.3% ex IFRS 16), with margin improvement to 19.3% (vs 17.1% in FY 2023) thanks to a favourable product mix coupled with ongoing efficiency actions
• Group Reported Net Profit at €81.8m in FY 2024 (€170.6m in FY 2023) which includes DOMS placement and significant decline in financial expenses. Adjusted Group Net profit at €40.9m, +32.3% vs FY 2023
• Free Cash Flow to Equity at €67.7m vs €60.3m in FY 2023, with positive working capital contribution, lower capex and interest expenses, exceeding 2024 guidance (upper end of €40-50m range)
• Net Financial Position at -€181.1m in FY 2024, with €122.3m net reduction vs FY 2023 despite €36.5m of dividends in 2024 thanks to strong cash flow generation and disposal of the stake in DOMS for €80.7m (Net Bank Debt -€124.5m in FY 2024 vs -€229.5m in FY 2023)
• Dividend proposed €40.8m, higher than guidance, thanks to higher than anticipated Free Cash Flow to Equity and successful placement of DOMS participation
• Outlook: guidance 2025 confirmed, with low-to-mid single digit revenue growth, mid-single digit growth in Adjusted EBITDA, assuming constant currency & tariffs, and FCFE between €40m and €50m, dividend pay-out ratio 20-40%, in the ordinary course

Snapshot of FY 2024 results (excluding DOMS Industries)

Note: data on Sales and EBITDA with impact of DOMS and IFRS 16 included in the Appendices

Consistent Long Term Growth (excluding DOMS Industries)

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

FY 2024 Core Business Sales (excluding DOMS Industries)

	FY 2023	FY 2024	delta (€)	Comparable FX (€)	Q4 2023	Q4 2024	delta (€)	Comparable FX (€)	Key Highlights
Total Fila Group	644.9	612.6	-32.3m -5.0%	-18.0m -2.8%	129.6	119.2	-10.4m -8.1%	-7.9m -6.1%	Sales FY 2024 results at €612.6m, -2.8% on a comparable FX (-6.1% Q4 2024). Negative currency impact mainly regarding C&SA
North America	321.6 (49.9%)	298.9 (48.8%)	-22.6m -7.0%	-22.2m -6.9%	54.7 (42.2%)	52.0 (43.6%)	-2.7m -4.8%	-3.2m -5.9%	North America FY 2024 results €298.9m, -6.9% on a comparable basis, reflecting one-off disruption logistics in Q1 due to introduction
Europe	214.2 (33.2%)	215.9 (35.2%)	+1.7m +0.8%	+1.9m +0.9%	45.3 (34.9%)	44.5 (37.3%)	-0.8m -1.7%	-1.3m -2.9%	SAP EWM module. Q4 2024 decline of -5.9% due to macroeconomic uncertainties and to the continuous focus on higher margin products
C&SA	91.2 (14.1%)	81.0 (13.2%)	-10.2m -11.2%	+3.3m +3.6%	25.3 (19.5%)	18.5 (15.5%)	-6.8m -26.9%	-3.1m -12.2%	Europe FY 2024 at €215.9m +0.9% on a comparable FX basis -2.9% mainly due to
Asia	14.4 (2.2%)	12.9 (2.1%)	-1.5m -10.6%	-1.4m -9.4%	3.4 (2.6%)	3.0 (2.5%)	-0.4m -11.6%	-0.5m -13.2%	performance in UK) C&SA confirmed positive trends 2024 although affected by currency
RoW	3.5 (0.5%)	3.9 (0.6%)	+0.3m +9.1%	+0.3m +9.4%	0.9 (0.7%)	1.1 (0.9%)	+0.2m +20.5%	+0.2m +17.9%	devaluations (Argentina Mexico), and slowdown in Q4 due macroeconomic uncertainties

Sales FY 2024 results at €612.6m, -2.8% on a comparable FX basis (-6.1% Q4 2024). Negative currency

North America FY 2024 results at €298.9m, -6.9% on a comparable FX basis, reflecting one-off disruption of logistics in Q1 due to introduction of SAP EWM module. Q4 2024 decline of -5.9% due to macroeconomic uncertainties and to the continuous focus on higher margin products

Europe FY 2024 at €215.9m with +0.9% on a comparable FX basis (Q4 -2.9% mainly due to weak performance in UK)

C&SA confirmed positive trends in FY 2024 although affected by currency devaluations (Argentina and Mexico), and slowdown in Q4 due to macroeconomic uncertainties

FY 2024 Adjusted EBITDA (excluding DOMS Industries)

	FY 2023	FY 2024	delta	2023 Margin	2024 Margin	Q4 2023	Q4 2024	delta	2023 Margin	2024 Margin	Key Highlights
Total Fila Group	110.2	118.2	+7.2%	17.1%	19.3%	10.4	14.7	+41.5%	8.0%	12.3%	Adjusted EBITDA in FY 2024 increased to €118.2m (+7.2%) despite the contraction in Sales, Q4 2024 at +41.5%
North America	59.3	60.9	+2.7%	18.4%	20.4%	5.6	4.1	-26.9%	10.2%	7.9%	EBITDA margin improvement in FY 2024, reaching 19.3% at the end of 2024 vs 17.1% in the prior year,
Europe	30.9	34.7	+12.2%	14.5%	16.1%	2.2	4.4	+99.9%	4.9%	10.0%	thanks to the efficiency gains and mix effect, as well as a more selective commercial approach
C&SA	14.8	18.8	+26.9%	16.3%	23.2%	2.3	5.8	+156.8%	8.9%	31.3%	North America EBITDA increased to €60.9 m (+2.7%) with margin further improved to 20.4% versus 18.4% in the prior year, despite lower Sales
Asia	5.0	3.6	-29.3%	35.0%	27.7%	0.1	0.4	+237.1%	3.6%	13.6%	Europe in FY 2024 reached €34.7 m (+12.2%) with 16.1% margin vs 14.5% in FY 2023
RoW	0.2	0.2	+39.5%	4.5%	5.7%	0.2	-0.1	n.m.	20.1%	-5.5%	CS&A EBITDA increased to €18.8m (+26.9%) in FY 2024, despite losses in

CS&A EBITDA increased to €18.8m (+26.9%) in FY 2024, despite losses in Dominican Republic and Argentina

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

Adjusted Income Statement

emarket sdir scorage
CERTIFIED

(€ million)	FY 2023 w/DOMS	FY 2023 o/w DOMS	FY 2024
Core Business Sales	779.2	134.3	612.6
Other revenues	8.7	0.7	9.4
Total Revenues	787.9	135.1	621.9
Cost for Raw Materials and Supplies and net increase (decrease) in Inventory	-366.8	-89.4	-267.4
Costs for Services and Use of Third-Party Assets	-119.8	-14.0	-97.9
Personnel Costs	-155.1	-20.0	-132.3
Other Operating Costs	-10.1	0.0	-6.1
Net IC Revenue/ Cost DOMS on EBITDA	-	14.1	-
Adjusted EBITDA	136.1	25.8	118.2
Depreciation & Amortisation	-41.9	-5.9	-34.9
Write-Downs	-0.5	0.0	0.0
EBIT	93.6	19.9	83.4
Financial income/expenses	-37.5	-1.3	-25.9
Income/expenses from associates at equity method	0.8	0.9	3.1
PBT	56.9	19.6	60.5
Taxes	-18.0	-4.8	-20.4
Adjusted Net Profit (Loss)	38.9	14.8	40.1
Adjusted Group Net Profit (Loss)	30.9	7.6	40.9
Base EPS*	0.61		0.81

Adj. for Non-Recurring Items to EBITDA -13.7 -9.2

Adj. for Non-Recurring Items to Group Net Profit 139.7 40.7

Key Highlights

Adjusted Group Net Profit surged +32.3% to €40.9m in FY 2024 from €30.9m in FY 2023 (note that the 2024 results includes DOMS' contribution for 2024)

D&A stood at €34.9m in FY 2024 and €41.9m in FY 2023

PPA amortization was equal to € 9.8 m in FY 2024

Significant decline in Financial Expenses due to lower indebtedness, improved margin ratchets, and repayment of Mexican Peso denominated facilities

Income from associates at €3.1m (€5.1m gross of €2 m of PPA) relates to FILA's 26.01% stake in DOMS

Adjustments for Non-Recurring Items related to reorganization costs mainly in North America and Europe, the performance shares incentive plan and fair value evaluation of tangible and intangible assets

Cash Flow Statement

(€ million)	FY 2023	FY 2024	delta	Key Highlights
Adjusted EBITDA	136.1	118.2	-17.8
Changes in net working capital	27.2	11.5	-15.7
Investments in tangible and intangible assets	-30.3	-13.1	17.1	Free Cash Flow to Equity exceeding FY24 guidance
Operating Cash Flow	133.0	116.6	-16.4
IFRS 16 rent payments	-15.9	-16.2	-0.3
Tax payments	-19.4	-11.8	7.7
Net financial expenses	-27.3	-19.1	8.3
Net financial expenses IFRS 16	-5.6	-3.6	2.0	Working Capital to Revenues ratio
Non -monetary costs and other changes	9.2	10.9	1.7	Capex declined to €13 1
Adjusted Free Cash Flow to Equity	74.0	76.9	2.9	€30 3 m in FY 2023
Adjustments for Non -Recurring Items	-13.7	-9.2	4.5
Reported FCF to Equity	60.3	67.7	7.4
Buybacks/ dividends	-9.2	-36.5	-27.4	Lower net financial expenses
Effect of FX rate movements	0.2	-4.9	-5.0	2024 vs €27 3 m in FY 2023
Changes in amortised cost and MTM	-3.0	1.7	4.7	financial expenses (€ 3 6 in FY 2023
Proceeds from sales of stake in associated company	69.1	80.7	11.7
Changes due to trademark acquisition	-	-2.0	-2.0	ratio
NFP change of DOMS deconsolidated	9.9	-	-9.9	was equal to €122 3
M&A effects	-8.2	-	8.2	to €67 7
Changes in IFRS 16 Net Financial Position	12.6	15.6	3.0	€80 7 m from the disposal of
Changes in Reported Net Financial Position	131.7	122.3	-9.4	(the cash

FY 2024 cash generation was strong, with Free Cash Flow to Equity of €67 . 7 m , exceeding FY24 guidance

Net Working Capital positively contributed to cash generation, with improvement in Trade Working Capital to Revenues ratio

Capex declined to €13 . 1 m in FY 2024 vs €30 . 3 m in FY 2023 , reflecting deconsolidation of DOMS, which required significant investments to sustain its growth projections

Lower net financial expenses (€19 . 1 m in FY 2024 vs €27 . 3 m in FY 2023 ) and lower IFRS 16 financial expenses (€ 3 . 6 m in FY 2024 vs € 5 . 6 m in FY 2023 ) thanks to working capital management, lower net debt and leverage ratio

Change in Reported Net Financial Position was equal to €122 . 3 m in 2024 mainly thanks to €67 . 7 m of Free Cash Flow to Equity and €80 . 7 m from the disposal of 4 .57 % in DOMS (the cash -in related to 2023 IPO was €69 . 1m)

Net Bank Debt & Net Financial Position

emarket sdir scorage
CERTIFIED

(€ million)	FY 2023	FY 2024	delta
Cash and Cash Equivalents	124.8	172.9	48.0
Financial Liabilities and Receivables	-354.3	-297.3	56.9
Net Bank Debt	-229.5	-124.5	105.0
Amortized Cost	2.8	5.0	2.1
Net Financial Position excl. IFRS and MtM Hedging	-226.6	-119.5	107.1
Mark to Market Hedging	-0.9	-1.3	-0.4
IFRS 16	-75.9	-60.3	15.6
IFRS 16 Net Financial Position	-303.4	-181.1	122.3
Adjusted EBITDA	136.1	118.2	-17.9
Leverage ratio on Net Bank Debt	1.7x	1.1x	-0.6x
Leverage ratio on Net Financial Position	2.2x	1.5x	-0.7x

Key Highlights

Net Bank Debt of €124.5m in FY 2024, compared to €229.5m at end 2023

Compared to FY 2023, Net Bank Debt in FY 2024 decreased by €105.0m due to strong cash flow generation and the cash-In from the disposal of 4.57% stake in DOMS, which offset the dividend payments of €36.5m and negative FX impact of €4.9m

Based on Adjusted EBITDA of €118.2m, Leverage Ratio of 1.1x in FY 2024

Reduction of €15.6m IFRS 16 debt due to efficiencies on the cost of leased production facilities in Mexico and USA, and the deconsolidation of DOMS Industries

Reported Balance Sheet

(€ million)	FY 2023 ex DOMS	FY 2024	delta
Intangible Assets	378.0	375.7	-2.3
Tangible Assets	123.3	108.7	-14.7
Biological Assets	1.2	-	-1.2
Financial Fixed Assets	161.1	140.5	-20.6
Fixed Assets	663.7	624.9	-38.8
Other Non Current Asset/Liabilities	23.3	20.5	-2.8
Trade Receivables	99.8	95.0	-4.8
Inventories	264.4	257.4	-7.0
Trade Payables	-105.7	-110.8	-5.1
Trade Working Capital	258.5	241.5	-17.0
Other Current Asset and Liabilities	4.5	0.1	-4.3
Net Working Capital	263.0	241.7	-21.4
Provision & Funds	-72.7	-73.2	-0.5
Net Capital Employed	877.4	813.9	-63.5
Shareholders Equity	-574.0	-632.8	-58.9
IFRS 16 Net Financial Position	-303.4	-181.1	122.3
Total Net Sources	-877.4	-813.9	63.5
Trade Working Capital	258.5	241.5	-17.0
Reported Sales	644.9	612.6	-32.3
Trade Working Capital % of Sales	40.1%	39.4%	-0.7%

$$\text{--- Кеу Нізфыјыз.}$$

FY 2024 compared to FY 2023 largely reflects the impact of the disposal of 4.57% stake in DOMS Industries and the closure of some buildings, leading to a decrease of €38.8m in fixed assets

Financial Fixed Assets largely composed of FILA's 26.01% stake in DOMS for €139.5m under the equity method

Trade Working Capital further decrease to €241.5m, with a percentage of sales at 39.4% in FY 2024 from 40.1% in FY 2023

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

DOMS Share Price Performance & Valuation for FILA

20/03/2025 INR 2890

• DOMS Industries was IPO on December 20th at a price of INR 790, increasing 68% on the 1st trading day
  • DOMS is currently trading at INR 2890, increasing +118% from the IPO (December 2023), significantly outperforming the BSE Index
  • FILA's 26.01% stake is currently worth €488m, based on the closing price on 20 March 2025

DOMS Share Price (INR) BSE Sensex Index (rebased) FILA.MI (rebased)

DOMS Industries Market Data

DOMS Consensus Results and Broker Recommendations
(source: FactSet, 20 March, 2025)

INR millions	2024A*	2025E	2026E	2027E
Sales	15,371	19,167	24,226	29,677
EBITDA	2,727	3,505	4,306	5,285
EBIT	2,215	2,865	3,499	4,299
Net Income	1,532	2,120	2,627	3,267

Broker	Rating Date	Rating	Target Price (INR)
Restricted	04/03/25	Buy	3,050
Prabhudas Lilladher	21/02/25	Buy	3,370
IIFL Research	04/02/25	Overweight	2,700
Asian Markets Securities	04/02/25	Overweight	2,810
ICICI Securities	03/02/25	Overweight	2,925
Nuvama Institutional Equities	03/02/25	Buy	3,210
JM Financial Institutional Securities	03/02/25	Buy	3,000
Average	/	/	3,009.29

DOMS Industries Share Price Performance

DOMS Share Price on 20 March, 2025 (INR)	2889.85
DOMS Market Capitalisation (INR bn)	175.38
FILA Stake (%)	26.01%
FILA Stake (INR bn)	45.62
EUR/INR	93.54
FILA Stake (€m)	487.68

* Note: DOMS Industries fiscal year falls on 31 March 16

• 1. Highlights
• 2. Business Review
• 3. Financial Review

• 4. DOMS Industries

• 1. Details on Revenues and EBITDA

• 2. Exchange rates

FY 2024 Adjusted EBITDA (excluding DOMS)

	FY 2023	FY 2024	delta	2023 Margin	2024 Margin	Q4 2023	Q4 2024	delta	2023 Margin	2024 Margin
Total Fila Group	110.2 96.1	118.2	+7.2% +7.3%	17.1% 14.9%	19.3% 16.8%	10.4 6.8	14.7 8.8	+41.5% +29.9%	8.0% 5.2%	12.3% 7.4%
		103.1
	59.3	60.9	+2.7%	18.4%	20.4%	5.6	4.1	-26.9%	10.2%	7.9%
North America	54.1	56.1	+3.8%	16.8%	18.8%	4.4	2.8	-35.9%	8.0%	5.4%
	30.9	34.7	+12.2%	14.5%	16.1%	2.2	4.4	+99.9%	4.9%	10.0%
Europe	27.4	31.4	+14.4%	12.8%	14.5%	1.2	3.6	+197.9%	2.7%	8.1%
	14.8	18.8	+26.9%	16.3%	23.2%	2.3	5.8	+156.8%	8.9%	31.3%
C&SA	10.9	13.4	+22.9%	12.0%	16.6%	1.3	2.5	+101.6%	4.9%	13.6%
	5.0	3.6	-29.3%	35.0%	27.7%	0.1	0.4	+237.1	3.6%	13.6%
Asia	3.6	2.1	-42.8%	25.0%	16.0%	-0.1 -0.2		n.m.	-6.5%	-1.7%
	0.2	0.2	+39.5%	4.5%	5.7%	0.2 -0.1		n.m.	20.1%	-5.5%
RoW	0.0	0.0	n.m.	n.m.	0.8%	0.1 -0.1		n.m.	15.2%	-9.4%

Adjusted EBITDA Including IFRS 16

Adjusted EBITDA Excluding IFRS 16

Sales – w/DOMS and ex-DOMS

			2022		2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	54.6	69.1	58.4	53.0	235.1	52.1	64.8	52.0	45.3	214.2
North America	68.7	103.3	91.2	61.8	325.0	73.2	109.2	84.5	54.7	321.6
CSA	15.0	21.9	20.2	20.5	77.7	19.3	24.5	22.1	25.3	91.2
Asia	26.8	29.4	33.5	33.0	122.6	33.1	37.7	39.1	38.8	148.7
Other	0.9	0.9	1.1	1.2	4.0	1.0	0.7	0.9	0.9	3.5
Total	166.0	224.6	204.5	169.5	764.6	178.7	236.9	198.5	165.0	779.2

			2022		2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	54.6	69.1	58.4	53.0	235.1	52.1	64.8	52.0	45.3	214.2
North America	68.7	103.3	91.2	61.8	325.0	73.2	109.2	84.5	54.7	321.6
CSA	15.0	21.9	20.2	20.5	77.7	19.3	24.5	22.1	25.3	91.2
Asia	3.6	3.2	4.1	3.3	14.1	3.0	3.9	4.1	3.4	14.4
Other	0.9	0.9	1.1	1.2	4.0	1.0	0.7	0.9	0.9	3.5
Total	142.8	198.4	175.1	139.8	656.1	148.6	203.2	163.5	129.6	644.9

Adjusted IFRS 16 EBITDA – w/DOMS and ex-DOMS

Incl. IFRS 16			2022					2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	9.2	17.5	11.3	5.6	43.6	7.3	12.8	8.7	2.3	30.9
North America	9.9	19.4	12.5	3.9	45.7	10.6	24.4	18.6	5.7	59.3
CSA	3.1	4.4	4.5	2.5	14.5	3.7	5.2	3.6	2.3	14.8
Asia	4.0	4.4	6.3	6.7	21.5	6.7	9.3	8.6	6.3	30.9
Other	0.1	-0.1	-0.1	0.2	0.2	0.0	0.0	0.0	0.2	0.2
Total	26.3	45.8	34.5	18.9	125.5	28.3	51.6	39.5	16.7	136.1

Incl. IFRS 16			2022					2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	9.1	17.4	11.2	5.9	43.6	7.1	12.8	8.8	2.2	30.9
North America	9.8	19.3	12.5	4.2	45.8	10.4	24.5	18.8	5.5	59.2
CSA	3.0	4.4	4.4	2.6	14.4	3.7	5.3	3.7	2.3	14.9
Asia	1.1	0.7	2.4	0.7	5.0	1.3	2.0	1.6	0.1	5.0
Other	0.1	-0.1	-0.1	0.2	0.1	0.0	0.0	0.0	0.2	0.2
Total	23.1	41.8	30.4	13.6	108.9	22.5	44.5	32.9	10.3	110.2

Adjusted EBITDA excluding IFRS 16 – w/DOMS and ex-DOMS

Excl. IFRS 16			2022			2023
w/DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	8.4	16.8	10.5	4.7	40.4	6.4	12.0	7.8	1.2	27.4
North America	8.5	18.0	11.0	2.5	40.0	9.2	23.0	17.4	4.4	54.0
CSA	2.2	3.6	3.5	1.6	10.9	2.8	4.3	2.6	1.3	10.9
Asia	3.4	4.0	5.8	5.8	19.0	6.0	8.7	8.0	6.1	28.8
Other	0.1	-0.1	-0.1	0.1	0.0	-0.1	-0.1	0.0	0.1	0.0
Total	22.7	42.1	30.7	14.7	110.3	24.3	47.9	35.8	13.1	121.1

Excl. IFRS 16			2022					2023
ex-DOMS	Q1	Q2	Q3	Q4	FY	Q1	Q2	Q3	Q4	FY
Europe	8.3	16.7	10.5	4.6	40.1	6.3	12.0	7.9	1.2	27.5
North America	8.4	17.9	11.0	2.3	39.6	9.0	23.1	17.5	4.4	54.1
CSA	2.2	3.5	3.5	1.5	10.8	2.7	4.3	2.7	1.2	10.9
Asia	0.8	0.4	2.0	1.2	4.3	1.0	1.6	1.2	-0.2	3.6
Other	0.1	-0.1	-0.1	0.1	0.0	0.0	-0.1	0.0	0.1	0.0
Total	19.8	38.4	26.8	9.8	94.8	19.0	41.0	29.3	6.7	96.1

Exchange Rates (source: Bank of Italy)

	Currency	Avg FY 2023	Avg FY 2024	31/12/2023	31/12/2024
Argentinean Peso	ARS	316.35	989.54	892.92	1,070.81
Australian Dollar	AUD	1.63	1.64	1.63	1.68
Brazilian Real	BRL	5.40	5.83	5.36	6.43
Canadian Dollar	CAD	1.46	1.48	1.46	1.49
Swiss Franc	CHF	0.97	0.95	0.93	0.94
Chilean Peso	CLP	908.08	1,020.99	977.07	1,033.76
Renminbi Yuan	CNY	7.66	7.79	7.85	7.58
Dominican Peso	DOP	60.56	64.26	64.18	63.48
UK Pound	GBP	0.87	0.85	0.87	0.83
Indonesian Rupiah	IDR	16,480.35	17,154.13	17,079.71	16,820.88
Shekel	ILS	3.99	4.00	4.00	3.79
Indian Rupee	INR	89.32	90.53	91.90	88.93
Mexican Peso	MXN	19.19	19.82	18.72	21.55
Nuevo Sol	PEN	4.06	4.06	3.91	3.91
Polish Zloty	PLN	4.54	4.31	4.34	4.28
Russian Ruble	RUB	92.45	100.41	100.22	115.68
Swedish Krona	SEK	11.47	11.43	11.10	11.46
Turkish Lira	TRY	25.75	35.57	32.65	36.74
US Dollar	USD	1.08	1.08	1.11	1.04
South African Rand	ZAR	19.95	19.83	20.35	19.62

Disclaimer

This document has been prepared by F.I.L.A. S.p.A. ("F.I.L.A." or the "Company"), for information purposes only, exclusively with the aim of assisting you to understand and assess F.I.L.A.'s activities. Statements contained in this presentation, particularly regarding any possible or assumed future performance of the F.I.L.A. Group, are or may be forward-looking statements based on F.I.L.A.'s current expectations and projections about future events. By their nature, forwardlooking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond F.I.L.A.'s control. These risks, uncertainties and factors may cause F.I.L.A.'s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performances or achievements). Forward-looking statements are not guarantees of future performance. Consequently, F.I.L.A. and its management can give no assurance regarding the future accuracy of the estimates of future performance set forth in this document or the actual occurrence of the expected developments. The data and information contained in this document are subject to changes and integrations. Although F.I.L.A. reserves the right to make such changes and integrations when it deems necessary or appropriate, F.I.L.A. assumes no affirmative obligation to update, change or integrate this document, except as and to the extent required by law. Any reference to the past performance of the F.I.L.A. Group shall not be taken as an indication of future performance. In addition, this presentation includes certain ''Adjusted'' financial and operating indicators and non-IFRS measures, which have been adjusted to reflect extraordinary events, non-recurring and/or non-monetary transactions and/or activities that are not directly related to the Group's ordinary business. These measures are not indicative of our historical operating results, nor are they meant to be predictive of future results. These measures are used by F.I.L.A.'s management to monitor the underlying performance of the business and the operations. Since not all companies calculate these measures in an identical manner, F.I.L.A.'s presentation may not be consistent with similar measures used by other companies. Such "Adjusted" information has been included to facilitate the comparison of financial information among different financial periods; however, it should be noted that such information is not recognized as a measure of financial performance or liquidity under IFRS and/or does not constitute an indication of the historical performance of the Company or the Group. Therefore, investors should not place undue reliance on such data and information. The information contained in this document does not constitute or form any part of, and should not be construed as, any offer, invitation or recommendation to purchase, sell or subscribe for any securities in any jurisdiction and neither the issue of the information nor anything contained herein shall form the basis of or be relied upon in connection with, or act as any inducement to enter into, any investment activity. This document does not purport to contain all of the information that may be required to evaluate any investment in the Company or any of its securities and should not be relied upon to form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This presentation is intended to present background information on F.I.L.A., its business and the industry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made. The merit and suitability of investment in F.I.L.A. should be independently evaluated and determined by investors. Analyses in this presentation are not, and do not purport to be, appraisals of the assets, stock or business of F.I.L.A., and do not form any publicity material relating to the securities. Any person considering an investment in F.I.L.A. is advised to obtain independent advice as to the legal, tax, accounting, regulatory, financial, credit and other related advice prior to making an investment.

By attending this presentation, you agree to be bound by the foregoing terms.

F.I.L.A. Investor Relations

Cristian Nicoletti CFO & IR Officer Piero Munari, Daniele Ridolfi - IR ir@fila.it +39 02 38105206