Elica S.p.a. · MIL:ELC
Elica — STAR Conference 2025
45 slides from Elica's conference presentation, Mar 27, 2025
Slide 1: STAR Conference
STAR CONFERENCE Milan, 27 March 2025
Slide 2: Agenda
elica Agenda ™@ = Elica Group Overview = Market Environment @ Group Mid-Term .01 .02 .03 Strategy §@ Cooking Division @ Motor Division Roadmap @ = Annex: .04 Roadmap .05 .06 Financial Highlights FY 2024
Slide 3: Slide 3
Slide 4: Elica Group
elica Elica Group. The world's leading manufacturer of kitchen extraction systems. European leader in the manufacture of electric motors. Si 7 _**4] , Production sites Q 2.600 mom Employees & 2 Divisions rin’ Cooking & Motors LISTED ON THE STOCK EXCHANGE SINCE 2006 - STAR SEGMENT 14 LegalEntities =
Slide 5: Italian heart, international presence
Italian heart, international presence.
Slide 6: Elica Group revenues 2024 breakdown
elica Elica Group revenues 2024 breakdown. NET SALES 2024 | 452,1 M€ 15% 79% 6% AMERICAS EMEA ASIA * > Hoods oe re |e wen elica fi eh aj = Motors OEM @) Airforce Aspiration Hobs = Cooking = | Ns JE = Own Brands arietta ARIAPINA PUNISH vetamr z < i) a a a £ a 3 a Cooking by Brand 208 ME
Slide 7: Elica shareholders
Elica shareholders. ORDINARY SHARES mFan aTIP Treasury Shares Others *Update March 2026 MAIN SHAREHOLDERS* F.A.N. S.r.1. 52,8% TIP S.p.A. 21,5% Treasury Shares 61% Others 19,3% Shares 63.322.800 13
Slide 8: Market Environment
elica MARKET ENVIRONMENT
Slide 9: Cooking Industry Trend
Cooking Industry Trend. 8000000 9% 10% 7000000 6,7 5,8 6,1 5,9 6,0 6,2 6,1 5% 6000000 5,4 5,6 5,6 5,5 5% 3% 4% 5000000 2% * 2% 0% 4000000 -2% 3000000 -3% -5% 2000000 -8% -10% 1000000 -10% 0 -15% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 M Units Delta vs PY 500000 0,3 0,4 0,4 0,4 0,6 400
Slide 10: Hoods: European Market Leader, With #1 Position In Italy & France
Hoods: European Market Leader, With #1 Position In Italy & France Million Units 14% 16,0 11,4% 11,6% * 10,7% 10,8% 11,0% 12% 14,0 10,4% 9,6% 12,0 10% 8,5% 10,0 7,5% 8% 5,9% 6,3% 8,0 6,7 5,6 5,8 6,1 5,9 6,0 6,2 6,1 6% 6,0 5,4 5,6 5,5 4% 4,0 2% 2,0 0,0 0% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2
Slide 11: Aspiration Hobs: Flattening market demand & growing competition
Aspiration Hobs: Flattening market demand & growing competition. Million Units 20,00% 700000 18,00% 600000 16,00% 13,2% 13,3% 14,00% 500000 0,4 10,9% 11,1% 0,4 0,4 12,00% 400000 0,3 10,00% 7,9% 11,1% 300000 8,00% 0,2 8,8% 200000 0,2 6,00% 0,1 4,00% 100000 2,00% 0 0,00% 2018 2019 2020 2021 2022 2023
Slide 12: Heating: Industry declining since 2022. Growing EMC-FIME % shares
Heating: Industry declining since 2022. Growing EMC-FIME % shares Boilers Sell-out (Million Units, EU)
Slide 13: Group Strategy
elica -= GROUP STRATEGY
Slide 14: Profitability Turnaround Driving Transformation Accelerating Growth
Profitability Turnaround Driving Transformation Accelerating Growth ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ → ▪ ▪ ▪ ▪ ▪ ▪
Slide 15: Our Mid-Term Vision remains solid
elica Our Mid-Term Vision remains solid Elica Rebranding LHOV, Built-in New Range, New Cooktops for NA Market ENLARGED PRODUCT RANGE New EC Motors, Heat Pumps, Hydrogen «Boots on the Ground» in WIDER DISTRIBUTION North America & Canada Growth in Key EU Accounts NETWORK ‘Arietta Brand in DIY EMC-FIME
Slide 16: EMC FIME Boilers Market
▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ 5.503 4.673 5.153 4.432 4.068 1.520 1.822 1.661 1.807 ▪ 1.137 ▪ 2020 2021 2022 2023 2024 EMC FIME Boilers Market ▪ ▪
Slide 17: Cooking Roadmap
elica ES bs -= COOKINGROADMAP «ty | Yee
Slide 18: Cooking Strategic Pillars For Growth
elica Cooking Strategic Pillars For Growth. COOKING BUILT-IN RANGE NEW BRAND «BOOTS ON THE GROUND» = gENy: EXPAND CUSTOMER (LHOV, Ovens, | = hobs, IDENTITY NEW CHANNEL BASE and new PROJECT @LG (iucea) A 18
Slide 19: EMEA & APAC main priorities own brand
EMEA & APAC main priorities own brand. ▪ ▪ ▪ °
Slide 20: EMEA&APAC - Commercial Strategy Roadmap
elica EMEA&APAC - Commercial Strategy Roadmap 1 4 Increase product & New distribution | Actively address Operational service expertise in approach the excellence local from Hoods to organization Aspiration Hobs “ESE we ws. . ‘ RSSsSor 27 EXCLUSIVA/ AVANT-GARDE = -_ Key Markets: Collection eC ipdp @
Slide 21: An Important Milestone
elica An Important Milestone MAMMA af NOBILIA : integration of LHOV and Induction Hobs PRIMIS in 2024-25 catalogue SHUN ae
Slide 22: Content & Communication Media
CONTENT & COMMUNICATION MEDIA SPONSORSHIP DIGITAL TRADE ACTIVATIONS MILAN DESIGN WEEK
Slide 23: North America own brand
North America own brand. ▪ ▪ ▪ ▪ ° ▪
Slide 24: North America: Boots on the Ground
elica North America: BOOTS ON THE GROUND BB AG International for all Canada AG i SEA Distributor for South-East US Mf NEA Distributor for North-East US @ Elica direct B2C sales for all the rest of US 2liICQ DIWE Osteel Yo KOBE 26
Slide 25: North America growth
elica North America growth 2019 2024 27
Slide 26: Slide 26
Slide 27: Motor Division Roadmap
elica MOTOR DIVISION ROADMAP
Slide 28: Customer Base Growing, serving the leading brands in the Industry
elica Customer Base Growing, serving the leading brands in the Industry Hoods & Extractor hobs Domestic Heating Heat Pumps European Leader with more than 56% market share Strategic Partner of most important WW players SILENT, POWERFUL, COMPACT & EFFICIENT solutions to improve comfort in our living s
Slide 29: Our strategic key drivers remain solid
elica Our strategic key drivers remain solid rin Pre-Mix (Boilers) * Continue to consolidate our leadership in the Pre-mix business Electrification "Electricity demand will grow significantly 2, (Heat-pumps & Hyd rogen) = Growing electrification will pull demand of advanced technologies to reduce as
Slide 30: ISH
elica ISH ISH 2025 «MOTTO» Sustainable and digital solutions aimed at responding to global challenges related to energy efficiency and intelligent resource 17. - 21.3.2025 management Frankfurt am Main CONTROL RELIABILITY |OVATION Key players (Vaillant, Viessman, Bosch, Carrier, Resideo, Bi offices,
Slide 31: Pre-Mix: Product Development: Ready to approach North America
elica Product Development: Ready to approach North America POTENTIAL CUSTOMERS = BRADFORD WHITE’ CORPORATION Onloure FEB 10-12, 2025 Se AHR Oona’ THE EVENT FOR HVACR / FEB 10-12, 2025 axa sfai) 1800+ Exhibitors 50,000+ Attendees 350+ Speakers PRE-MIX 33
Slide 32: New applications: medical, drones, aerospace, data center refrigeration
• Medical applications • Drones / Defense • Satellites / Aerospace • Data Center Refrigeration
Slide 33: Closing Remarks
elica CLOSING REMARKS
Slide 34: Closing Remarks
elica Closing Remarks * 2024: Starting a long Journey of Transformation Ae = 2025 Expectations » YoY flat industry: macro-economic measures will impact not before late 2025, while geopolitical scenario remains uncertain. = Growing mid-term opportunity from New Houses undersupply (EU and NA) and decr
Slide 35: Our Mid-Term Vision remains solid
elica Our Mid-Term Vision remains solid Elica Rebranding LHOV, Built-in New Range, New Cooktops for NA Market ENLARGED PRODUCT RANGE New EC Motors, Heat Pumps, Hydrogen «Boots on the Ground» in WIDER DISTRIBUTION North America & Canada Growth in Key EU Accounts NETWORK ‘Arietta Brand in DIY EMC-FIME
Slide 36: Q4 & FY2024 Results
elica —) bs = Q4&FY2024RESULTS « | iL
Slide 37: Highlights 2024
elica Highlights 2024 Maintaining our Leadership in Aspiration & Motors, while transforming our business Q4 FY Highlights NET SALES YoY CHANGE NET SALES YoY CHANGE Weak Reference Markets; Encouraging Dynamics 10 5 Mé -2,5 ME 4521M€é -21,1 ME * Cooking Division: direct distribution growth & enlarged
Slide 38: Sales Key Drivers & Business Overview
elica Sales Key Drivers & Business Overview Q4 FY 473,2 19,3 pew ee eee eee een BE ME 22% enn eee, 13,0 -24 Y - A8 452,1 -0,4 10,5 4% 0.4% 1.8% -0,4% me me 14 2023 Organic Currency 942024 FY 2023 , FY 2024 M Net Sales Net Sales Organic Currency Net Sales Net Sales Slightly negative quarter gap compa
Slide 39: Sales by Business
elica Sales by Business Q4 FY 4B, a Motors 4D, «Motors a a "= Cooking T= Cooking = 80% 78% Ey, _ Motors Cooking Tr @lica Ey, _ Motors coking FF elica Q4 2023 23,7 89,3 13,0 FY 2023 107,5 365,7 473,2 -0,0 -0,4 -0,4 +0, 4,8 Currency -0,0% -0,5% -0,4% Currency +0,1% -0,4% ORGANIC Growth 3 70,8 -24 ORGA
Slide 40: Cooking Sales by Region
elica Cooking Sales by Region Q4 FY = Americas aN = Americas EMEA EMEA Asia Asia 70% 73% Americas Emea Asia Cooking Te Americas Emea Asia Cooking TF = s (942023 18,2 63,6 75 29,3 FY 2023 66,9 269,7 29,4 365,7 0,4 0,1 0,2 -0,4 3 04 AG -2,0 Currency -0,6% 0.2% 2.7% 0.4% Currency % 0.0% 6.5% -0,5% -0,4
Slide 41: Cooking Sales by Brand
elica Coo g Sales b y Brand Q4 FY 38% = OEM = OEM Own Brand Own Brand 9 62% 59% OEM Own Brand Cooking cca OEM Own Brand Cooking ca Q4 2023 36,1 53,3 89,3 FY 2023 143,4 222,3 365,7 -0,0 -0,4 -0,4 +0,4 “2,4 Currency -0,1% -0,8% -0,5% Currency +0,3% AN% -2,2 +15 7 “12,2 ORGANIC Growth B sg ORGANIC Grow
Slide 42: Q4 & FY '24 Results
elica Q4 & FY ‘24 Results Ps CHANGES vs. PRIOR YEAR eM Q42024 942023 % VAR FY 2024 FY 2023 % VAR 4 mM NET SALES 10,5 13,0 (2,2)% 452,1 473,2 (4,5)% VOLUME - - ADJUSTED EBITDA 68 10,6 (36,0)% 314 48,1 (34,6)% PRICE / MIX - --: INVESTMENT COOKING % NET SALES 61% 9,4% 6,9% 10,2% 320 bps TRANSFORMATION
Slide 43: Net Financial Position
elica Net Financial Position em FY 2024 FY 2023 VAR OPENING NFP (63,4) (43,9) (9,5) IFRS 16 EFFECT 124 14,0 (19) OPENING NFP - Net of IFRS 16 (41,3) (29,9) (11,4) OPERATING CASH FLOW 33,6 37,6 (4,0) CAPEX (17,4) (16,1) (1.2) TAXES (2) (2,7) 06 OPERATING FCF 144 18,8 (4.7) % SALES 31% 4,0% BUY BACK (
Slide 44: Disclaimer
Disclaimer This presentation may contain 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 re
Slide 45: Thank you
Thank you =\|(er=