Landi Renzo

Investor Presentation • Aug 27, 2015

1H15 FINANCIALRESULTS

SNAPSHOT

InItaly lpg and cng new vehicles sold showing a good trend

1H15 PROFIT&LOSSHIGHLIGHTS

( l l ) Eu i io r m n
	H 1 2 0 1 5	%	H 1 2 0 1 4	%	ha C ng e s	%
( d d ) Re ic ve nu e s g o o s a n s e rv e s	9 8, 1		1 1 2, 4		-1 4, 2	-1 2, 7 %
b d i E t a	0, 2	0, 2 %	6 7,	6, 8 %	-7 5 ,	-9 9 % 7,
iza io de ia io d Am t t t or n, p re c n an
lo im ir t p a m en ss es	7, 7	% 7, 9	7, 5	% 6, 7	0, 2	% 3, 1
b E i t	-7 6 ,	-7 7 % ,	0, 2	0, 1 %	-7 7 ,	/ N A
f ( ) f he i G Ne Pr Lo t t t o s s o ro u p	2 -7 ,	% -7 4 ,	8 -1 ,	6 % -1 ,	-5 4 ,	/ N A

Revenues - decrease of After Market segment partially offset by good performances with OEM business.

EBITDA decreases mainly for volume effect and sales mix. Furthermore, extraordinary cost were sustained for production plants merger aimed to optimize production and get futuresavings.

REVENUES BREAKDOWN

( Mil lion f E ) s o uro
Ge h ica l d ist ibu ion f r t og rap r o ev en ue s	H1 20 15	%	H1 20 14	%	De lta	%
Ita ly	19 .9	20 .3%	22 .2	19 .7%	2.3 -	10 .3% -
Eu ( Ita ly ) rop a ex	44 .4	45 .2%	48 .7	43 .3%	4.3 -	8.8 % -
Am ica er	17 .4	17 .7%	18 .4	16 .3%	1.0 -	5.3 % -
As ia a nd f t he ld st re o w or	16 .4	16 .7%	23 .1	20 .6%	6.7 -	29 .0% -
To l ta	9 8. 1	10 0. 0 %	11 2.4	10 0. 0 %	14 .2 -	12 .7% -

( f E ) Mil lion s o uro
Ge h ica l d ist ibu ion f r t og rap r o ev en ue s	H1 20 15	%	H1 20 14	%	De lta	%
Ita ly	19 .9	20 .3%	22 .2	19 .7%	2.3 -	10 .3% -
( ) Eu Ita ly rop a ex	44 .4	45 .2%	48 .7	43 .3%	4.3 -	8.8 % -
Am ica er	17 .4	17 .7%	18 .4	16 .3%	1.0 -	5.3 % -
As ia a nd f t he ld st re o or w	16 .4	16 .7%	23 .1	20 .6%	6.7 -	29 .0% -
To l ta	9 8. 1	10 0. 0 %	11 2.4	10 0. 0 %	14 .2 -	12 .7% -

GEOGRAPHIC BREAKDOWN

Italy – turnover has decreased mainly due to the flexion in AM segment andhigher level of competition in the segment.

Europe – revenues in this area decrease mainly for LPG Russian market.

America – decrease due to shift of Bolivian tender and Central Americacountries.

Asia and rest of the world – the decrease is ^a consequence of negativetrend in Far East and other Areas. Iranianmarkets begins to show positive signs of recovery.

SECTOR BREAKDOWN

Systems for cars – the decrease is due to the AM segment partially offset bythe good level of revenues of OEM carmakers.

A new criterion for classification of revenues by segment was followed starting from the first half of 2014: this is in line with thelogic of the management approach. The current composition shows the LPG and CNG lines in the segment "systems for cars"and includes revenues from sales of compressors for fueling stations, made by the company Safe SpA in the sector "distribution system".

The segment "Other - (Alarms, Sound, Aquatronica (sold on April 2014), Robotics, Oil&Gas and other)," compared to previousresults, does not include the sale of compressors for fuelling stations, by virtue of the above mentioned reclassification.

Distribution systems – slight increase due to the good performance in SouthEast Asia market and Italy.

Other – the decrease in this segment isdue mainly to the Oil&Gas sector.

4

WORKING CAPITAL

Working Capital – compared with December 2014, the increase is the result, mainly, for the increase of inventories level, to support the business of the comingquarters.

NET DEBT

Net financial position – the increase is generated mainly by the working capital trend during 1H15 and for Capex for support Group business.

At June 2015 the Net Financial Position is composed mainly by long-term debtsexpiring over 2018.

LANDI RENZO COMPANY PROFILE

BOARD OF DIRECTORS

Stefano Landi – President & CEOGiovannina Domenichini – Honorary President Claudio Carnevale - Executive DirectorHerbert Paierl - DirectorAntonia Fiaccadori – DirectorAlessandro Ovi - Indip. DirectorTomaso Tommasi di Vignano – Indip. Director

INVESTOR RELATIONS

Investor Relations Contacts:

Pierpaolo MarzialiTel: +39 0522 9433 E-mail: ir@landi.itwww.landi.it

SHAREHOLDING

SHARE INFORMATION

N. of shares outstanding: 112.500.000Price as of 25/08/15 € 0.775

Capitalization: € 87,19 mln

FTSE Italia STAR

STOCK VS MARKET

CONSOLIDATEDBALANCE SHEET

( ho ds f E ) t us an o uro s
A S S ET S	/ / 15 3 0 0 6 20	/ / 3 1 12 20 14	/ / 3 0 0 6 20 14
No nt ts n-c ur re as se
Pro ert lan t a nd ip nt p y, p eq u me	35 11 8 ,	35 27 7 ,	34 67 4 ,
De lop d itur nt ve me ex p en e	7, 49 1	7, 10 1	6, 32 9
Go dw ill o	39 94 2 ,	39 94 2 ,	40 19 0 ,
Ot he r in ib le a it h fin ite fu l liv tan ets g ss us e es w	23 80 2 ,	24 63 7 ,	25 51 8 ,
Eq ity inv lida d u ing he ity ho d tm ts te t t u es en co ns o s eq u me	29 7	18 0	36 4
Ot he fin ia l as nt ts r n on -cu rre an c se	79 7	77 3	53 5
De fer d t ts re ax as se	19 45 0 ,	17 24 7 ,	17 90 3 ,
To l n ta nt ts on -cu rre as se	12 6, 8 97	12 5, 15 7	12 5, 5 13
Cu nt ts rre as se
Tra de iva b les re ce	38 00 1 ,	33 06 9 ,	41 30 1 ,
Tra de iva b les late d p ies art re ce - r e	2, 42 6	1, 98 6	59 3
Inv ies tor en	67 38 2 ,	63 26 9 ,	68 02 4 ,
Co ks in p ntr t w ac or rog res s	3, 99 3	2, 59 0	4, 81 2
Ot he iva b les d c t a ets r re ce an urr en ss	15 78 7 ,	15 53 3 ,	17 09 3 ,
Ca h a nd h e iva len ts s ca s q u	58 94 2 ,	31 82 0 ,	28 12 7 ,
To ta l c nt ts ur re as se	18 6, 5 3 1	14 8, 26 7	15 9, 9 5 0
S S S TO TA L A ET	3 13 42 8 ,	27 3, 42 4	28 5, 46 3

CONSOLIDATED BALANCE SHEET

( ho ds f E ) t us an o uro s
E Q U ITY A ND LI AB ILI TIE S	3 0 / 0 6 / 20 15	3 1 / 12 / 20 14	3 0 / 0 6 / 20 14
Gr ha ho lde ' e ity ou p s re rs q u
S ha ita l re ca p	11 25 0 ,	11 25 0 ,	11 25 0 ,
Ot he r re se rve s	96 54 9 ,	98 01 8 ,	97 74 8 ,
Pro fit ( los ) f t he io d s o p er	-7, 16 9	1, 78 3 -	1, 87 0 -
ity ibu f t To ta l e at tr ta b le to t he ha ho lde he nt q u s re rs o p are	10 0, 6 3 0	10 7, 48 5	10 7, 12 8
Min ity inte ts or res	66 0	59 1	52 2
TO TA L E Q U ITY	10 1, 29 0	10 8, 07 6	10 7, 6 5 0
No l ia b il it ies nt
n-c ur re No ba nk loa t n-c urr en ns	32 29 9	26 17 1	30 13 8
Ot he fin ia l lia b ilit ies nt r n on -cu rre an c	, 34 04 1	, 1, 17 8	, 66 1
for Pro vis ion ris ks d c ha s an rg es	, 4, 39 9	5, 05 5	5, 19 0
De fin d be fit lan e ne p s	3, 37 4	3, 81 8	3, 61 3
De fer d t lia b ilit ies re ax	8, 32 4	8, 41 7	8, 81 6
ia il it ies To ta l n nt l b on -cu rre	8 2, 43 7	44 6 3 9 ,	48 41 8 ,
Cu l ia b il it ies nt rre
Ba nk dra fts d s ho lo rt-t ov er an erm an s	56 04 1 ,	51 58 0 ,	47 28 6 ,
Ot he fin ia l lia b ilit ies t r c urr en an c	26 8	13 7	25
Tra de b les p ay a	59 56 9 ,	54 63 2 ,	67 192 ,
Tra de b les late d p ies art p ay a - r e	1, 75 6	1, 30 4	1, 10 1
Ta x l ia b ilit ies	2, 36 0	4, 49 2	4, 12 0
Ot he lia b ilit ies t r c urr en	9, 70 7	8, 56 4	9, 67 1
To l c l ia b il it ies ta nt ur re	12 9, 70 1	12 0, 70 9	12 9, 3 9 5
TO TA L E Q U ITY A ND LI AB ILI TIE S	3 13 42 8 ,	27 3, 42 4	28 5, 46 3

CONSOLIDATED PROFIT&LOSS

( tho ds of Eu ) us an ros
INC OM E S TA TE ME NT	30 /06 /20 15	30 /06 /20 14
Re (g ds d s ice s) ve nu es oo an erv	97 99 0 ,	11 1, 61 8
Re (g ds d s ice s)- late d p ies art ve nu es oo an erv re	13 5	75 2
Ot he nd in r re ve nu e a co me	86 4	87 6
Co of st ter ials ble nd od nd ch in inv tor ies raw ma , c on su ma s a go s a an ge en	46 70 1 - ,	50 63 5 - ,
Co fo f th sts ice nd ird rty ts r s erv s a us e o pa as se	-27 09 8 ,	30 02 5 - ,
Co fo ice nd f th ird ela ted rtie sts rty ts r s erv s a us e o pa as se – r pa s	-1, 56 1	1, 24 8 -
Pe el e rso nn xp en se s	-22 20 6 ,	21 92 1 - ,
Ac als imp air los nd he ing nt ot rat cru me se s a r o pe ex pe ns es ,	-1, 26 3	1, 77 0 -
of Gr s O rat ing Pr it os pe	16 0	7, 64 7
Am iza tio de cia tio nd im irm t lo ort n, pre n a pa en ss es	71 6 -7,	48 1 7, -
Ne t O rat ing Pr of it pe	-7, 55 6	16 6
Fin cia l in an co me	22 4	21 9
Fin cia l ex an pe ns es	-2, 10 1	2, 23 7 -
Ga ins ( los s) ch te se on ex an ge ra	59 7	21 7
Ga ( s) ins los uity inv tm ts olid ate d u sin the uity eth od se on eq es en co ns g eq m	10 0 -	77 -
Pr of it ( Lo ) be fo ta ss re x	-8, 93 6	1, 71 2 -
Cu d d efe d t nt rre an rre ax es	1, 70 3	94 -
of it ( s) of rio d f ino rit int inc ing Pr los the th e G d m ts lud pe or ro up an er es y : ,	7, 23 3 -	1, 80 6 -
Min ori inte ty ts res	-64	64
Pro fit ( Lo ) o f th eri od fo r th e G ss e p rou p	16 9 -7,	1, 87 0 -
Ba sic rni s ( los s) ha (ca lcu late d o ha ) n 1 12 50 0, 00 0 s ea ng pe r s re res ,	0.0 63 7 -	0.0 16 6 -
Dilu ted rni s ( los s) ha ea r s re	-0. 06 37	0.0 16 6
ng pe		-

This presentation has been prepared by Landi Renzo S.p.A. for information purposes only and for use in presentations of the Group's results and strategies.

For further details on the Landi Renzo Group, reference should be made to publicly available information, including the Quarterly Reports and the Annual Reports.

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© LANDI RENZO SPA 2015.