ELICA ELICA 1
Q3 12 Highligths Negative market demand, showing better trend compared to previous quarters Group sales over performing in all major markets Cost reduction efforts and continued product innovation mitigate the negative impact on marginality of worsening price/mix. Record Managerial Working Capital level Very strong cash generation ELICA 2
Q3 12 - Cooker Hoods Industry Unit Shipments* Change % vs. 11* Q3 12 9M 12 (4.3)% (6.0)% 1.6% 2.5% (1.3)% (2.0)% North America 0.0% 0.3% Latin America 2.0% 2.3% Americas 0.9% 1.2% Rest of the World (6.0)% (9.9)% World (3.6)% (6.0)% Western Europe Eastern Europe (including CIS) Europe * Elica Group estimates ELICA 3
Q3 12 Consolidated Income Statement M Q3 12 Q3 11 Δ% 93.3 89.2 4.6% EBITDA 6.4 6.7 (4.8)% % 6.8% 7.5% (0.7) p.p. EBIT 2.7 2.7 0.5% % 2.9% 3.0% (0.1) p.p. Group Net Result 0.8 0.5 49.8% % 0.8% 0.6% 0.2 p.p. Net Sales EPS* Euro cents 1.27 0.86 47.7% *EPS as at September 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. ELICA 4
9M 12 Consolidated Income Statement M 9M 12 9M 11 Δ% 284.8 281.7 1.1% EBITDA 17.9 20.4 (12.4)% % 6.3% 7.3% (1.0) p.p. EBIT 6.8 8.2 (16.8)% % 2.4% 2.9% (0.5) p.p. Group Net Result 1.7 2.9 (40.2)% % 0.6% 1.0% (0.4) p.p. 4.91 (41.4)% Net Sales EPS* Euro cents 2.88 *EPS as at September 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. ELICA 5
9M 12 Elica Sales Trend Change % vs. 9M 11 Cooking Q3 12 9M 12 Europe 0.3% (3.7)% Americas 17.4% 25.8% Rest of the World 17.2% 11.1% 4.6% 1.1% - Overall better than market (+3.0%) - Own Brands: increase (+4.8%), over performing in American and Asian markets - Client brands: increase (+1.8%) keeping market share in Top OEMs Electric Motors decrease (-8.6%) except for cooker hoods segment Total ELICA 6
9M 12 Marginality key drivers Change vs. 11 ( M) 9M 12 Raw material cost Price/Mix (1) + _ Currency + EBITDA (2.5) (1) Mix deterioration regards mainly Client brand range cooker hoods ELICA 7
Net Working Capital and Net Financial Position as of September 30 M 9M 12 9M 11 Δ 9M 12/ 11 Trade receivables 79.1 85.2 (6.1) % on annualized sales 20.8% 22.7% (1.9) p.p. Inventories 52.0 52.4 (0.4) % on annualized sales 13.7% 13.9% Trade payables (90.5) (86.2) (23.8)% (22.9%) Net Working Capital (Managerial) 40.6 51.4 (10.8) % on annualized sales 10.7% 13.7% (3.0) p.p. % on annualized sales (0.2) p.p. 2.1 (0.9) p.p. Short term assets & liabilities (0.2) (0.2) (0.0) % on annualized sales (0.0)% (0.0)% (0.0) p.p. Net Working Capital 40.4 51.2 (10.8) % on annualized sales 10.7% 13.6% (3.0) p.p. ELICA 8
Consolidated Balance Sheet as of September 30 M Net operating fixed assets Net Working Capital 2011 143.6 135.5 40.4 51.2 2011 65.3 77.3 112.9 104.8 6.9 6.2 Total Shareholders equity 119.8 111.0 Total Sources 185.1 188.2 Net Debt (Cash) Group equity Minorities Net financial assets 1.0 1.5 Assets/Liabilities of discontinued operations 0.0 0.0 185.1 188.2 Net Capital Employed ELICA 9
Consolidated Cash Flow M Operating Cash Flow CapEx Cash Flow before financial activities Financial operations & others Cash Flow to shareholders Q3 12 Q3 11 9M 12 9M 11 5.9 (2.9) 13.1 0.2 (3.7) (3.8) (9.5) (14.2) 2.2 (6.7) 3.6 (14.0) (0.6) (0.1) (0.6) (28.0) 1.6 (6.8) 3.0 (42.0) ELICA 10
Net Financial Position as of September 30, M Cash, bank deposits and marketable securities (28.6) Long-term financial liabilities 44.6 Short-term financial liabilities 49.3 Total Financial Liabilities 93.9 Net Debt (Cash): 65.3 M ELICA 11
Manufacturing delocalization Hoods volume allocation 9M LOW COST COUNTRIES WESTERN EUROPE 30% 43% 34% 57% 55% 2011 45% ELICA 12
Cooking revenues breakdown Value data 9M OWN BRAND 38% 39% 62% 61% 2011 CLIENT BRAND ELICA 13
New products launches in Q3 Elica brand 4 new products. All the launches were on-time as regards the marketing plan. Tiffany Joy Capitol Joy Island ELICA 14
New products launches in Q3 Client brands 30 new products. ELICA 15
Events & Fairs Q3 #blogger4elica: Showcooking in Showroom On 5th and 6th July Elica organized the second edition of #blogger4elica, a format conceived to create new relationships between Elica brand and the web opinion leaders. Bloggers and journalists have been invited to a showcooking inside the Elica showroom in Fabriano. At the event took part also Moreno Cedroni, Michelin 2 Stars chef, who helped the bloggers in cooking different kinds of recipes. ELICA 16
Awards German Design Awards Skin received a nomination at the 2013 German Design awards. The jury recognized the high level of the project of the hood designed by Fabrizio Crisà, Elica Design Center. Skin has also been awarded in 2011 with the Red Dot Design Award. ELICA 17
Awards Elica at the Biennale of Venice Elica s Fabriano headquarter has been selected as architectural project of excellence at the XIII Biennale of Architecture in Venice. Riccardo Diotallevi, the architect who designed the structure, have been invited to present the project at the Italian Pavilion at the Architetture per il Made In Italy exhibition. ELICA 18
Disclaimer This presentation contains forwards-looking information and statements about Elica S.p.A and its Group. Forward-looking 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. ELICA 19