Eurotech S.p.a. · MIL:ETH

Eurotech — FY2018 Earnings Presentation

13 slides from Eurotech's earnings presentation, Mar 18, 2019

1. Slide 1: 2018 Full Year Results Conference Call

   2018 FULL YEAR RESULTS CONFERENCE CALL March 18th, 2019

2. Slide 2: Disclaimer

   DISCLAIMER This presentation has been prepared by Eurotech S.p.A. (or “Eurotech”) and has to be read in conjunction with its oral presentation. The information contained in this presentation does nor purport to be comprehensive. Neither Eurotech nor any of its officers, employees, advisers or agents

3. Slide 3: Revenues

   REVENUES 31 December 2018-2017 (€/000) 90 80 70 60 50 40 30 20 10 - 2018 12M 2017 3

4. Slide 4: Revenues by Geographic Area

   REVENUES BY GEOGRAPHIC AREA 31 December 2018-2017 (€/000) FY 2018 % FY 2017 % var. % BREAKDOWN BY GEOGRAPHI C AREA European Union 16,048 20.3% 9,559 15.9% 67.9% United States 33,061 41.8% 25,489 42.4% 29.7% Japan 26,326 33.3% 23,814 39.6% 10.5% Other 3,648 4.6% 1,258 2.1% 190.0% TOTAL SALES AND SERV

5. Slide 5: Gross Profit Margin

   GROSS PROFIT MARGIN 31 December 2018-2017 (€/000) 40 47.5% 35 30 48.5% 25 20 15 10 5 - 12M 2018 2017 5

6. Slide 6: EBITDA

   EBITDA EBITDA - 31 December 2018-2017 (€/000) 9 10.3% 8 7 6 8 5 4 3 2 2.8% 1 1,672 - 12M 2018 2017 6

7. Slide 7: EBIT

   EBIT EBIT & EBIT adj - 31 December 2018-2017 (€/000) 7.0 7.4% 7.4% 6.0 5.0 No Price 4.0 allocation 3.0 effect in 2018 5 2.0 1.0 0.0 - - -1.0 -1.2% -2.0 -3.0 -5.0% -4.0 2018 2017 12M 12M adj 7

8. Slide 8: Group's Net Result

   GROUP’s NET RESULT Group’s net results & Group’s net results adj, 31 December 2018-2017 (€/000) 8.0 7.2% 7.2% 6.0 No Price 4.0 allocation effect in 2018 2.0 0.0 -4 -3 -2.0 -4.0 -5.2% -7.8% -6.0 2018 2017 12M 12M adj 8

9. Slide 9: Equity, Cash and Net Debt

   EQUITY, CASH AND NET DEBT 31 December 2018 and 2017 (€/000) 130,000 110,000 90,000 70,000 50,000 13,196 6,745 -5,650 30,000 0,930 10,000 -10,000 at Dec 31, 2018 at Dec 31, 2017 -30,000 SHAREHOLDERS' EQUITY NET FINANCIAL POSITION (NET DEBT) CASH & CASH EQUIVALENTS 9

10. Slide 10: Net Working Capital

    NET WORKING CAPITAL 31 December 2018, 31 December 2017 and 2016 (€/000) at Dec 31, 2018 at Dec 31, 2017 at Dec 31, 2016 10

11. Slide 11: Employees

    EMPLOYEES Headcount at the end of each period 0 0 302 294 0 0 0 at Dec 31, 2018 at Dec 31, 2017 at Dec 31, 2016 11

12. Slide 12: Consolidated Income Statement

    CONSOLIDATED INCOME STATEMENT FY 2018 FY 2017 OPERATING RESULTS €'000 FY 2018 % FY 2017 % % % adjusted adjusted SALES REVENUES 79,083 100.0% 60,120 100.0% 79,083 100.0% 60,120 100.0% GROSS PROFIT 37,556 47.5% 29,135 48.5% 37,556 47.5% 29,135 48.5% EBITDA 8,128 10.3% 1,672 2.8% 8,128 10.3% 1,672 2.8%

13. Slide 13: Consolidated Balance Sheet

    CONSOLIDATED BALANCE SHEET (€'000) at Dec 31, 2018 at Dec 31, 2017 (€'000) at Dec 31, 2018 at Dec 31, 2017 ASSETS LIABILITIES AND EQUITY Intangible assets 85,369 79,968 Share capital 8,879 8,879 Property, Plant and equipment 2,579 2,436 Share premium reserve 136,400 136,400 Investments in affiliates

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