Eurotech S.p.a. · MIL:ETH

Eurotech — Q1 2018 Earnings Presentation

15 slides from Eurotech's earnings presentation, May 15, 2018

1. Slide 1: First Quarter Results 2018 Conference Call

   FIRST QUARTER RESULTS 2018 CONFERENCE CALL May 15th, 2018

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: Financial Highlights 31 March 2018

   FINANCIAL HIGHLIGHTS 31 March 2018 3 3

4. Slide 4: Revenues

   REVENUES 31 March 2018-2017 (€/000) 20 18 16 14 12 10 8 6 4 2 - 2018 3M 2017 4

5. Slide 5: Revenues by Geographic Area

   REVENUES BY GEOGRAPHIC AREA 31 March 2018-2017 (€/000) 1Q 2018 % 1Q 2017 % var. % BREAKDOW N BY GEOGRAPHI C AREA European Union 3.068 17,1% 1.610 17,7% 90,6% United States 8.553 47,8% 3.143 34,5% 172,1% Japan 6.003 33,5% 4.055 44,5% 48,0% Other 270 1,5% 306 3,4% -11,8% TOTAL SALES AND SERVICE REVENU

6. Slide 6: Gross Profit Margin

   GROSS PROFIT MARGIN 31 March 2018-2017 (€/000) 10 48.8% 9 8 7 6 5 46.9% 4 3 2 1 - 3M 2018 2017 6

7. Slide 7: EBITDA

   EBITDA EBITDA - 31 March 2018-2017 (€/000) 2 9.1% 2 1 1 1,621 -31.6% - (1) - (1) (2) (2) (3) (3) (4) 3M 2018 2017 7

8. Slide 8: EBIT

   EBIT EBIT & EBIT adj - 31 March 2018-2017 (€/000) 2,0 6.5% 6.5% 1,0 No price allocation 0,0 effect in 2018 -1,0 - - -2,0 -3,0 -38.2% -4,0 -44.9% -5,0 2018 2017 1Q 1Q adj 8

9. Slide 9: Group's Net Result

   GROUP’s NET RESULT Group’s net results & Group’s net results adj, 31 March 2018-2017 (€/000) 1,0 3.5% 3.5% 0,5 0,0 -0,5 - - -1,0 -1,5 -2,0 -2,5 -3,0 -3,5 -36.6% -4,0 -41.0% 2018 2017 1Q 1Q adj 9

10. Slide 10: Equity, Cash and Net Debt

    EQUITY, CASH AND NET DEBT CASH AND NET DEBT , 31 March 2018 and 31 December 2017 (€/000) 100.000 80.000 60.000 8,974 6,745 40.000 -5,650 -4,378 20.000 0 at Mar 31, 2018 at Dec 31, 2017 -20.000 SHAREHOLDERS' EQUITY NET DEBT CASH & CASH EQUIVALENTS 10

11. Slide 11: Net Working Capital

    NET WORKING CAPITAL NWC 31 March 2018 ,31 December 2017 and 31 March 2017 (€/000) at Mar 31, 2018 at Dec 31, 2017 at Mar 31, 2017 11

12. Slide 12: Employees

    EMPLOYEES Headcount at the end of each period 0 0 0 0 0 at Mar 31, 2018 at Dec 31, 2017 at Mar 31, 2017 12

13. Slide 13: Consolidated Income Statement

    CONSOLIDATED INCOME STATEMENT 1Q 2018 1Q 2017 OPERATING RESULTS €'000 1Q 2018 % 1Q 2017 % % % adjusted adjusted SALES REVENUES 17,894 100.0% 9,114 100.0% 17,894 100.0% 9,114 100.0% GROSS PROFIT 8,733 48.8% 4,278 46.9% 8,733 48.8% 4,278 46.9% EBITDA 1,621 9.1% (2,876) -31.6% 1,621 9.1% (2,876) -31.6%

14. Slide 14: Consolidated Balance Sheet

    CONSOLIDATED BALANCE SHEET (€'000) at Mar 31, 2018 at Dec 31, 2017 (€'000) at Mar 31, 2018 at Dec 31, 2017 ASSETS LIABILITIES AND EQUITY Intangible assets 81,116 79,968 Share capital 8,879 8,879 Property, Plant and equipment 2,352 2,436 Share premium reserve 136,400 136,400 Investments in other comp

15. Slide 15: Thank You!

    Thank You! www.eurotech.com

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