Dexelance · MIL:DEX
Dexelance — Investor Presentation (May 2025)
28 slides from Dexelance's investor presentation, May 2025
Slide 1: Dexelance Investor Presentation May 2025
DE XELANCE CRAFTING DESIGN FOR EXCELLENCE INVESTOR PRESENTATION May 2025
Slide 2: Disclaimer
Disclaimer This presentation (the Presentation’) has been prepared by Dexelance S.p.A. (the “Company” and together with its subsidiaries, the “Group”) for information purposes only and should not be reproduced or redistributed. The Presentation does not constitute an offer to sell or a solicitation
Slide 3: We strongly believe that today's living should be an experience
WE STRONGLY BELIEVE THAT TODAY'S LIVING SHOULD BE AN EXPERIENCE Our mission is to inspire and enrich the lives of our customers by infusing the essence of refined living into everyday experiences. ensuring that at the core of everything we offer lies the art of crafting design for excellence. We are
Slide 4: put&call options/earnouts, PPA amortization and related fiscal effect. (3) Calculated as (Full Adj. EBITDA
(1) Computed as Reported EBITDA + non-recurring costs + M&A transaction costs + IPO costs. (2) Income Adjusted for EBITDA Adjustments, change in estimate of put&call options/earnouts, PPA amortization and related fiscal effect. (3) Calculated as (Full Adj. EBITDA – CAPEX)/Full Adj. EBITDA.
Slide 5: (1) Acquisition of a 20% stake in 2021, a further 31% stake in July
(1) Acquisition of a 20% stake in 2021, a further 31% stake in July 2023 and the final 49% in October 2024. Consolidated starting from 2H 2023. (2) Acquisition completed in January 2023.
Slide 6: (1) % incidence on 2024 revenue.
• • • • • • • • • • • (1) % incidence on 2024 revenue.
Slide 7: High-end market segments
| ~25% • ~20-25% ~20% ~20% ~15-20% • • Core HEDF Personal Luxury Goods Food, Beverages & Wine & Spirits Luxury Yachts & Restaurants Jets Source: Company elaboration based on Bain&Company-Altagamma «High-End Market Monitor» (June 2022), and Bain&Company-Altagamma «Luxury goods worldwide market study»
Slide 8: (1) % incidence on 2024 revenue. (2) Milan: Gervasoni, Meridiani, Davide Groppi, Turri. London:
(1) % incidence on 2024 revenue. (2) Milan: Gervasoni, Meridiani, Davide Groppi, Turri. London: Meridiani, Turri. New York: Meridiani, Davide Groppi, Gervasoni, Turri.
Slide 9: Proven growth track record, thanks to both organic and M&A opportunities
Proven (and above reference market) growth track record, thanks to both organic and M&A opportunities Core HEDF market evolution (€bn | 2015-2024) CAGR= +4/5% 48 AT 46 —_, 7% ~4% 38 34 35 36 35 32 CAGR 415-'24E 2015 2016 2017 2018 2019 2020 2021 2022 2028 20246 Dexelance evolution (€m | 2015-2024) t
Slide 10: (10) (20) (30) ▪ ▪ ▪ ▪ ▪
30 20 10 0 (10) (20) (30) ▪ ▪ ▪ ▪ ▪ 10
Slide 11: A distinctive value-added strategy...
A distinctive value-added strategy... Apartnership model based on alignment of interests. designed to preserve companies’ autonomy and DNA while leveraging on Dexelance’s structure and network to realize full growth potential and access to synergies. At Dexelance individuality harmonizes with a unif
Slide 12: Project promoting dialogue between art and design
Aproject aiming to promote the dialogue between art and design and their harmonious synergy. a path to embrace the different souls of the group's companies to iconic works by enhancing the italian and international cultural and artistic heritage. VW ssimo III, Arnaldo Pomodoro lagship Store. Via Man
Slide 13: (1) Last update: 31 March 2025.
• • • (1) Last update: 31 March 2025. 13
Slide 14: Recent updates and 1Q 2025 results
Recent updates and F1Q 2025 results BE XELANCE
Slide 15: Roda partnership
BDEXELANCE Roda’s unique positioning. identity, and recognizability have made the brand an extremely prestigious player in the world of outdoor furniture, the first to develop a comprehensive vision of the “outdoor world” as a new protagonist of the new modern and dynamic lifestyle The company, toge
Slide 16: Gamma Arredamenti Shanghai store restyling
Gamma Arredamenti restyled the Shanghai store @Tiamantii playing multiple new products: the space reinforces the brand's international pre >| > 2 sts 2gic markets for high-e Gamma Arredamenti @Shanghai | In collaboration with Tiamantti BDEXELANCE
Slide 17: Meridiani
® MERIDIANI oration with Omobito BDEXELANCE 7
Slide 18: Trade fair
TRADE FAIR (1) Source: areapress.salonemilano.it
Slide 19: Discover the new Turri identity
Discover the new Turri identity
Slide 20: Meridiani generative AI virtual canvas
As part of the trade fairs stand exhibition, Meridiani presented a “virtual canvas” displayed on screen: starting from the uploaded picture of a blank room, visitors could interact with the software — developed and presented by Dexelance — to create real-time endless digital renderings of their idea
Slide 21: PPA amortization and related fiscal effect. (3) Calculated as (Full Adjusted EBITDA – CAPEX)/Full
• • (1) Computed as Reported EBITDA + non-recurring costs + M&A transaction costs (2) Income Adjusted for EBITDA Adjustments, change in estimate of put&call options/earnouts, PPA amortization and related fiscal effect. (3) Calculated as (Full Adjusted EBITDA – CAPEX)/Full Adjusted EBITDA.
Slide 22: Q1 2025 financial results: overall resiliency in revenue
3 months 2025 financial results: overall resiliency in revenue, despite challenging market conditions. Increased Group cost base as a result of recent multiple strategic and long-term investments Profit & Loss | &m Revenue Other income Total Revenue Operating Costs Added Value Personnel Costs Adj. E
Slide 23: Revenue breakdown by business area
As expected, Luxury Contract is normalizing after the all-time record signed in Q4 and FY 2024. Residential areas partially catching-up, with stronger contribution from Cubo Design and the lighting businesses Revenue FIQ94_ HQ A breakdown 5 9, by SBA |€m Fumiture 30.9 29.7 -3,9% Lighting 77 84 — +9.
Slide 24: Revenue breakdown by channel
BDEXELANCE Retail 38.0 Soft Contract 13.4 Hard contract 24,4 TOTAL 72,7 Channel %incidence - F 1Q 25 39.0 13.7 19.4 724 +2.6% +2,9% -9,4% -0,9% 24
Slide 25: Revenue breakdown by region
Solid performance in the domestic market. as well as confirmed increasing global reach despite overall consumption trends. Steep shifts in sales between North America, Europe and ROW are mostly driven by luxury contract projects’ dynamics Revenue breakdown by region |€m BDEXELANCE Italy 16.6 Europe
Slide 26: Net working capital, capex and net financial position
Luxury contract's shifts further impact usual quarterly swings in NWC, temporarily affecting cash generation, The announced Capex plan remains confirmed, with flexible phasing during the next 3 years NET WORKING CAPITAL | €m 18,0 83 AS im Ll 1Q 24 ew 9M 24 FY 24 1Q 25 (24) (8) CAPEX|€m |” totalF24 c
Slide 27: Single-digit
85.8 Single-digit growth 92.0 BDEXELANCE mLuxury Contract QT
Slide 28: Dexelance group brands
DE XELANCE Italia Cina UK USA GERVASONI 1882 C=NACCH! MITON) VERY wood davide groppi FLEXALIGHTING MERIDIANI sebe" Axelight