Elica S.p.a. · MIL:ELC
Elica — H1 2025 Earnings Presentation
34 slides from Elica's earnings presentation, July 2025
Slide 1: Q2 & H1 2025 Results Analyst Presentation
Q2 & H1 2025 Results Analyst Presentation =\|(er=
Slide 2: Agenda
elica Agenda ® Q2&H12025 Highlights | Industry Trend | Sales Dynamics .01 02 .03 @ = Financial Review ™@ Closing Remarks & @ = Annex: 04 .05 Outlook .06 Financial Highlights Q2 & H1 2025 Results
Slide 3: Highlights Q2
elica Highlights Q2 Second QTR of Organic revenues growth in both divisions, while investing in our business NET SALES YoY CHANGE Encouraging Dynamics in an uncertain business environment 121,2 Mé€é +1,1 Mé€é "Cooking Division: Brand sales growing in North America, significant contribution +0,9% (+1
Slide 4: Highlights H1
elica Highlights H1 Encouraging progression both in Sales and Margins NET SALES YoY CHANGE 9% -4% 41% 2% H% 1% — Deltavs PY 120 121 240,0 ME +2,6 ME wn om ls +1,1% (+1,4% organic) _ 124 224 9324 424 125 92:25 EBIT ADJ YoY CHANGE 1% 2.8% o2% oo cov 18% 3,2 ME 1,9 ME — 4S 1,3% -1,0 pts — reg 224 Q3'24
Slide 5: North America Brand Strategy
elica North America Brand Strategy Direct Distribution and Product Expansion into Range Cookers the X Factor rr) elica arietta 2 DIDNDDMA dl —— 1,3 Sales ME | fd , 2019 2023 2024 2025 Range Cookers 2023 2024 2025 Salesforce i 4 | L 8 il " it 20 i A AG Q2 & H1 2025 Results
Slide 6: Steel Equity Partnership
elica Steel Equity Partnership “BLACK IS THE QUINTESSENCE OF SIMPLICITY AND ELEGANCE.” (Yves Saint Laurent) mowamte et pacutrea la colecion Al Blac GEnfasi se cistngue parson esthétque contemporaine dart, iése pour cast qui aiment un syle sopnsiqué et minal Les bouts etpoignées en mil anfichs Gune f
Slide 7: Sales by region and channel
▪ ▪ ▪ 5% Italy 15% 15% Benelux Others Europe 3% Extra UE 14% Australia 33% NAR 15% OEM
Slide 8: Steel
elica Osteel Premium Indoor & Outdoor Cooking A leap towards the future = Our design expresses our passion for beauty and functionality = Unique pieces moulded in steel, a material we have used for three generations with a culture of doing specifically made in Italy = We aim for Steel products to be
Slide 9: Strategic rationale
elica Strategic rationale Key Product in NA Distribution Gas & Electric Ranges Gas & Electric Cooktops GOvens DHoods = Premium Cooking distribution in North America dominated by Range Cookers product line Elica NA Strategy Empowering ELICA’s current and future distributors in Canada and the U.S. wit
Slide 10: Steel Deal Structure and Business Plan 2025-2027
elica Qsiceel Deal Structure Business Plan 2025-2027 Steel 2024 Results: = Revenues: 7,0 M& * EBITDA: 11,4 % = NFP: 3,0 ME Steel “Pre-Transaction” BP 2025-2027: = Revenues: 2X vs 2024 * EBITDA: stable = NFP: 50% improvement H1 2025 Sales vs. 2024 is in line with BP Trend (+30%) WAVE 3: 2030 to 0% Op
Slide 11: Industry Trend
O2 Industry Trend Q2 & H1 2025 Results
Slide 12: Europe: Industry Shipments
elica Europe: Industry Shipments Volume Data Change % vs LY Q12023 0% -2% -4% 6% Kitchen hoods 2% Market Size (2024): 10% 5,6 M units “12% Q12023 20% 15% 10% Aspiration hobs 5% Market Size (2024): o% 0,5 M units IURCE: GFK, ELIC, TES. Q2 & H1 2025 Results Q22023 93.2023 Q2 2023 2023 Q3 2023 42023 4.
Slide 13: Europe: Persisting high promotional environment
elica pe | Europe: Persisting high promotional environment Average Market Price still under pressure in both product categories i Kitchen hoods Delta vs LY 2023 2024 2025 Qi Q2 Q3 Q4 Q1 Q2 Q3 Q4 QI Q2 EUROPE 22 - SOURCE: GFK, ELICA GROUP ESTIMATES Q2 & H1 2025 Results -3,6% Aspiration hobs Delta vs
Slide 14: North America: Industry Shipments
elica —— || & | North America: Industry Shipments Volume Data Change % vs LY Ventilation Cooking (*) FY 2023 FY 2024 12025 Q2 2025 FY 2023 FY 2024 12025 92.2025 10% 10% 5% 0% | 0% 5% 5% i 5% 10% 10% “15% “15% -20% -20% -25% 25% (*) Cooking includes Microwaves trend reflecting Q1 anticipated purchase
Slide 15: Sales Dynamics
Sales Dynamics Q2 & H1 2025 Results
Slide 16: Sales Key Drivers & Business Overview
elica Sales Key Drivers & Business Overview Q2 H1 +2,6 ME +1,1% H ’ ! 13,3 70.6 240,0 +11 ME +0,9% ! 03% ee ee eee a 237,4 120 F +2,0 -0,9 121,2 +4,4% , H7% 0.8% me me Organic Currency 2.2025 H1 2024 , H1 2025 ia ane Na Sales Net Sales Organic Currency Net Sales Q2 2025 Results main drivers (+1% vs.
Slide 17: Sales by Business
elica Sales by Business Q2 H1 4B, a Motors 4D, «Motors a a & = Cooking "%& = Cooking 78% 77% i) i 1 oy i i Ey, _ Motors "HE Cooking elica dU), _ Motors FE _Cooking elica Q2 2024 26,0 120,1 H1 2024 52,8 184,6 237.4 +0,0 -0,9 +0,0 -0,6 -0,6 Currency +0,0% -0,8% Currency +0,0% -0,3% -0,3% ORGANIC Growt
Slide 18: Cooking Sales by Region
elica Cooking Sales by Region Q2 H1 q 8% = Americas = Americas EMEA EMEA = Asia = Asia 70% 1% Americas Emea Asia elica Americas Emea Asia elica 922024 17,5 61 94,2 H1 2024 35,3 136,8 12,5 184,6 4,2 +01 -0,9 A +0,4 +0,1 -0,6 Currency 1% 1.4% 440% Currency -3,2% +0,3% +0,9% -0,3% 735 H6 +10 +4,6 -6,3
Slide 19: Cooking Sales by Brand
elica Cooking Sales by Brand Q2 H1 = OEM = OEM Own Brand 58% Own Brand 58% . ing OEM Own Brand Cooking Gir OEM Own Brand Cooking Tir f- 4 = 922024 40,5 53,6 H1 2024 78,2 106,5 184,6 -0,9 -0,0 -0,8 +0,2 -0,6 Currency -2,3% -0,0% Currency AN% +0,2% -0,3% +0,3 +0,6 +1,0 +0,5 5 ORGANIC Growth OS ve ORGA
Slide 20: USA Tariffs Update
elica USA Tariffs Update Finished Country of Products Product bel Impact/Actions mgin Duties = Wine o . . sei ; @ Ea coolers 55% Duties impact offset by Price Increase China = a Fridge 55% 50% : No cost increase from the supplier and no price i Cooker . o Hoods - - USMCA exemptions Mexico USMCA ti -
Slide 21: Q2 & H1 Financial Review
O04 Q2 & H1Finane Q2 & H1 2025 Results oe
Slide 22: Q2 & H1 '25 Results
elica QO2 & H1 ‘25 Results ec eM Q22025 = 92.2024 % VAR 12025 H1 2024 % VAR Q2 Ht NET SALES 121,2 120,1 +0,9% 240,0 237,4 +1,1% VOLUME + + PRICE / MIX -- -- ADJUSTED EBITDA 79 9" (13,9)% 14,9 16,7 (11,0)% INVESTMENT COOKING % NET SALES 6,5% 7,6% 110 bps 6.2% 7,0% ‘80 bps TRANSFORMATION _ — ADJUSTED
Slide 23: Net Financial Position and working capital
▪ Delta YoY opening balance mainly related to Share Buy Back impact (5M€) ▪ Working Capital driven by Inventories increase following revenues growth dynamics (4M€) ▪ Poland Motor Division factory cash out (1,4M€) balanced by CAPEX further optimization vs LY Inventories Trend (M€)
Slide 24: Q2 & H1 2025 Results
Q2& H12025 Results
Slide 25: Towards a Brand Cooking Company
elica Towards a Brand Cooking Company H1 2025 Brand Sales Variance vs. H1 2024 Ventilation New Cooking & Built-in Range +5,0 (M€) 108,9 0.0 ” 111,3 Zz , -2,5 linm@a! & H1 2024 Cooker Hoods Asp. Hobs Ind. Hobs LHOV Range Cookers Fridges Wine Cooler Ovens H1 2025 Direction is Right: Our Strategy is st
Slide 26: Closing Remarks & Outlook
elica Closing Remarks & Outlook * H1 Highlights & Take-Aways Encouraging Dynamics in an uncertain business environment: growth in both divisions, but still 6 months ahead of us Significant contribution to our performance coming from new cooking & built-in range incremental sales is) Steel partnershi
Slide 27: Annex: Financial Highlights
QO6 Annex: Financial Highlights ~ Q2 & H1 2025 Results
Slide 28: EPS and income statement notes
* EPS 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.
Slide 29: Net Working Capital
elica Net W orking <M 12025 FY 2024 Trade receivables 53.4 34.8 % on annualized sales 11% 77% Inventories 95.4 86.1 % on annualized sales 19.9% 19.0% Trade payables (136.8) (112.8) % on annualized sales (28.3)% (24.9)% Managerial Working Capital 13.0 a4 % on annualized sales 2.7% 18% Short term asse
Slide 30: Consolidated Cash Flow
elica Consolidated Cash Flow Q2 & H1 2025 Results em H1 2025 H1 2024 Operating Cash Flow 59 ns Capex (4.6) (7) Cash Flow from Financial Activities (8.1) (7.7) (6.8) (2.9) Net Financial Position 30
Slide 31: Consolidated balance sheet
elica Consolidated H1 2025 H1 2024 H1 2025 H1 2024 Net Operating Fixed Assets 194.4 189.3 Net Financial Position * 69.8 56.1 Net Working Capital 66 58 Group Equity 125.7 135.7 Minorities 6.0 5.0 Net Financial Asset 05 19 Total Shareholders’ Equity 1817 140.8 Net Capital Employed 201.5 196.9 Total So
Slide 32: Non Recurring items & Minorities
elica Non Recurring items & Minorities em Q2 2025 H1 2025 922024 H1 2024 RESTRUCTURING Scan (0.6) (0,7) (0.2) (0) OTHERS (0,6) (0,8) (0,6) (0,8) Total Non Recurring Items (42) (48) (0.8) (9) vlataldiahcbl | Jch-1-1-1 1:1 MINORTY MINORTY eM SHanes 922025 Hi2026 NONCY 22024 H12024 ARIAFINA 49% 0,4 0,8
Slide 33: 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 34: Thank you
Thank you =\|(er=