Elica S.p.a. · MIL:ELC
Elica — H1 2024 Earnings Presentation
29 slides from Elica's earnings presentation, August 2024
Slide 1: Q2 & H1 2024 Results Analyst Presentation
Q2 & H1 2024 Results Analyst Presentation
Slide 2: Agenda
elica Agenda © Q2&H1 Results Highlights ™@ Industry Trend | Sales Dynamics .01 02 .03 @ = Financial Review ™ Closing Remarks & @ = Annex: 04 .05 Outlook .06 Financial Highlights Q2 2024 Results
Slide 3: Q2 & H1 Results Highlights
Slide 4: Highlights Q2
. , Industry Trend Sales Dynamics Economics & Closing Remarks Financials Highlights Q2 NET SALES YoY CHANGE Sequential Revenue Increase in a weak market 120,1 Mé€é -5,4 Mé€é = Despite Industry remains negative, revenues showing a Q/Q recovery -4,3% (-4,0% organic) since 3Q 2023 in both Divisions. =
Slide 5: Highlights H1
elica Highlights H1 NET SALES YoY CHANGE 237,4 M€ -17,2 M€ -6,8% (-6,3% organic) EBIT ADJ YoY CHANGE 5,1 M€ -9,0 M€ 2,2% -3,4 pts NFP. YoY CHANGE (44,9) Me -8 ME Leverage: ~1,2 Q2 & H1 2024 Results Industry Trend Sales Dynamics Economics & Closing Remarks Financials 129 126 106 "3 17 120 Q1'23 Q2'23
Slide 6: Industry Trend
elica ae O2 Industry Trend Q2 2024 Results oe
Slide 7: Europe Sales Units Trend
. el ica lights Sales Dynamics Financial Review Closing Remarks Annex EUROPE - Sales Units Trend Change % vs LY Q12022 Q22022 Q32022 Q4.2022 © Q12023. © Q22023_- Q32023 © Q42023 © Q12024 Apr/May '24 0% 2% a -4% -6% 8% 10% 12% 14% 16% 70% — 50% —, 40% —aaere 30% om COOKER HOODS Q12022 Q22022 Q32022 Q
Slide 8: 2023-2024 Average Price Trend in Europe
2023- 2024 AVERAGE PRICE TREND IN EUROPE (Excl. Russia)
Slide 9: North America Ventilation Industry Unit Shipments
. , Highlights Cooking Division Motor Division Economics & Closing Remarks Annex Financials NORTH AMERICA - Ventilation Industry Unit Shipments Volume Data Change % vs LY Q12023 Q2 2023 Q3 2023 Q4.2023 Q12024 Q2 2024 NAR* Q2 & H1 2024 Results
Slide 10: European Heating Industry Trend
Source: EHI – European Heating Industry Countries: Germany, Italy, Netherlands, UK, France, Spain • • • •
Slide 11: Sales Dynamics
elica Q2 & H1 2024 Results 12
Slide 12: Sales Key Drivers & Business Overview
. elica Highlights Industry Trend Sales Dynamics Financial Review Closing Remarks Annex Sales Key Drivers & Business Overview Q2 H1 ~17,2 ME -6,8% ' ' 254,6 -16,0 ' v ' ' A,2 237,4 125,5 -5,0 ’ -6,3% 5 -0,4 120, 0.5% -4,0% -0,3% Me Mé Organic Currency 22024 H12023 . H12024 22028 @ ‘Sales. Net Sales
Slide 13: Sales by Region
. el ica Highlights Industry Trend Sales Dynamics Financial Review Closing Remarks Annex Cc k ; S [ b ; 1 I Q2 H1 = Americas “ = Americas EMEA EMEA = Asia = Asia 74% 74% Americas Emea Asia elica Americas Emea Asia elica Q2 2023 17,2 7.6 96,2 12023 33,5 144,3 14,8 192,6 +0,2 -0,5 -0,4 +0,2 -0,2 42 4,
Slide 14: Sales by Business
. elica Highlights Industry Trend Sales Dynamics Financial Review Closing Remarks Annex Sales by Business Q2 H1 4, «Motors 4D, «Motors a a © Cooking 7» Cooking = 78% 78% Ey, _ Motors Cooking Te elica Ey, _ Motors Cooking a elica Q22023 29,3 96,2 125,5 12023 62,0 192,6 254,5 +0,0 -0,4 -0,4 +0,1 4,3 A
Slide 15: Sales by Channel
elica Highlights Industry Trend Sales Dynamics Financial Review Closing Remarks Annex Q2 H1 = OEM = OEM Own Brand 57% Own Brand 58% OEM Own Brand Cooking ca OEM Own Brand Cooking cm Q12023 37, 59,1 H1 2023 73,9 18,7 192,6 +0,4 -0,8 +0,6 4,9 43 Currency ae ao Currency 10.8% 1.6% -0,7% +31 “47 43,7 “1
Slide 16: Economics & Financials
Slide 17: Income Statement
elica Highlights Cooking Division Motor Division Closing Remarks Annex eM Q22024 = Q2.2023 % VAR H12024 12023 % VAR Q2 Ht NET SALES 120,1 125,5 (4,3)% 237,4 254,5 (6,8)% VOLUME + + PRICE / MIX --- --- oA 13,5 32,3)% 16,7 26,1 35,9)% ADJUSTED EBITDA (32,3)% (35,9): COOKING REBRANDING 7 7 % % % 7,0% 1
Slide 18: Net Financial Position
. elica Highlights Industry Trend Sales Dynamics Closing Remarks Annex Net Financial Position eM H12024 H12023 VAR = NFP stable QoQ despite Ebitda Margin pressure. OPENING NFP (63,4) (43,9) (9.5) _ . . = Optimized Working Capital thanks to careful management of IFRS 16 EFFECT wn 14,0 (9) inventory l
Slide 19: Net Working Capital Position
elica Highlights Industry Trend Sales Dynamics Well balanced NWC Position Q2 & H1 2024 Results w a mn < 2 wi oO mf] a INVENTORY TRADE PAYABLE Closing Remarks 49 50 46 47 40 31 or Dec'22 Mar'23. «= Jun'23. = Sept'23. © (Dec'23.— Mar'24. Jun '24 102 107 109 109 7 7 7 Dec'22 Mar'23 Jun'23-Sept'23.-~Dec
Slide 20: Closing Remarks & Outlook
Q2 & H1 2024 Results
Slide 21: Closing Remarks & Outlook
Highlights elica Industry Trend Economics & Sales Dynamics Financiale Closing Remarks Annex Closing Remarks & Outlook 2024 : : Guidance 2024 Previous Guidance update H1 H2 H2 a | Cost Management Investment ee Strategy Q2 & H1 2024 Results Q2 actual In line with our expectations confirms the QoQ impr
Slide 22: Annex: Financial Highlights
elica Annex: : 06 Financial Highlights Q2 & H1 2024 Results |
Slide 23: Financial Highlights
* 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 24: Net Working Capital
elica Net W orking Highlights Cooking Division Capital <M H1 2024 FY 2023 ry Trade receivables 50.0 26.7 23.2 % on annualized sales 10.5% 5.6% 490 bps Inventories O14 90.9 0.3 % on annualized sales 19.2% 19.2% O bps Trade payables (126.5) (107.0) (19.43) % on annualized sales (26.5)% (22.6)% -400 bp
Slide 25: Consolidated Cash Flow
elica Highlights Cooking Division Motor Division Economics & inancials Consolidated Cash Flow Q2 & H1 2024 Results em H1 2024 12023 Operating Cash Flow 1.8 13.1 Capex (7) (6.8) Cash Flow from Financial Activities (7.7) (12.9) Net Financial Position (2.9) (6.5) 29
Slide 26: Net Capital Employed and Sources
elica Highlights Cooking Division Motor Division Economics & Financials H1 2024 H1 2023 H1 2024 H1 2023 Net Operating Fixed Assets 189.3 182.6 Net Financial Position * 56.1 49.9 Net Working Capital 58 95 Group Equity 135.7 140.9 Minorities 5.0 48 Net Financial Asset 19 28 Total Shareholders’ Equity
Slide 27: Non Recurring Items & Minorities
Highlights Cooking Division Motor Division Economics & Closing Remarks Financials elica Non Recurring items & Minorities scuvinatens | em Q22024 = =—-H1.2024 922023 H1 2023 RESTRUCTURING SGeA (0.2) (0) (0,3) (0.8) OTHERS (0,6) (0,8) (0,0) (0,2) Total Non Recurring Items (08) (09) (4) (10) inorities
Slide 28: 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 29: Thank you
Thank you =\|(er=