Elica S.p.a. · MIL:ELC
Elica — FY2025 Earnings Presentation
32 slides from Elica's earnings presentation, Feb 12, 2026
Slide 1: Q4 & FY 2025 Preliminary Results
Q4 & FY 2025 Preliminary Results February 12 th , 2026 ANALYST PRESENTATION
Slide 2: Agenda
Agenda Q4 & FY 2025 Highlights Industry Trend Sales Dynamics .01 .02 .03 Financial Review Closing Remarks Annex: .04 .05 5 & Outlook .06 Financial Highlights Q4 & FY 2025 Results 2
Slide 3: Q4 & FY Preliminary Results Highlights
01 Q4 & FY Preliminary Results Highlights Q4 & FY 2025 Preliminary Results
Slide 4: Highlights 2025
Highlights 2025 Back to Growth, while transforming our business Q4 FY Highlights NET SALES YoY CHANGE NET SALES YoY CHANGE Persisting Uncertainty; Encouraging Trends +0,5 M € +8,5M € ▪ Cooking: EU Brand Sales growing (+5% Q4), while new 111,1 M€ +0,5% (+1,7% organic) 460,6 M € +1,9% (+2,6% organic)
Slide 5: Industry Trend
02 Industry Trend Q4 & FY 2025 Results
Slide 6: Cooking (EU): Industry Shipments
Cooking (EU): Industry Shipments Volume Data Change % vs LY Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2% 0% -2% -4% -6% Kitchen hoods -8% Market Size (2025): -10% 5,8 M units -12% 2023 2024 2025 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3
Slide 7: Cooking (EU): High Promotional Environment
Cooking (EU): High Promotional Environment QTR Average Market Price Trend YoY Extractor hobs Kitchen hoods Delta vs LY - 3,6% Delta vs LY - 5,7% - 7,4% - 1,2% - 5,4% - 5,2% - 6,0% +3,5% - 1,5% - 3,2% - 6,7% - 5,9% - 4,6% - 4,1% - 3,8% - 2,0% - 2,6% - 4,8% - 5,2% - 4,6% - 4,1% - 2,4% - 8,0% - 5,0% 20
Slide 8: Cooking North America: Industry Shipments
Cooking North America: Industry Shipments Volume Data Change % vs LY Ventilation Cooking (*) FY 2023 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 FY 2023 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 10% 10% 5% 5% 0% 0% -5% -5% -10% -10% -15% -15% -20% -20% -25% -25% (*) Cooking Excluding Microwaves SOURCE AHA
Slide 9: Motor Division: Heating Industry Trend
Motor Division: Heating Industry Trend Thousand Units Boilers Sales in Europe 1400 1200 1000 800 600 400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 '22 '22 '22 '22 '23 '23 '23 '23 '24 '24 '24 '24 '25 '25 '25 Var. vs PY - 14% - 22% - 10% - 5% - 2% - 14% - 14% Source: EHI – European Heating Industry
Slide 10: Sales Dynamics
03 Sales Dynamics Q4 & FY 2025 Results
Slide 11: Sales Key Drivers & Business Overview
Sales Key Drivers & Business Overview Q4 FY +8,5M € +1,9 % +0,5 M € +0,5 % +11,7 - 3,3 460,6 +1,9 - 1,3 111,1 110,5 452,1 - 0,7% - 1,2% +1,7% +2,6% M€ M€ Q4 2024 Organic Currency Q4 2025 FY 2024 FY 2025 Organic Currency Net Sales Net Sales Net Sales Net Sales ▪ Sales growth driven by EMEA region wit
Slide 12: Sales by Business
Sales by Business Q4 FY 20% 22% Motors Motors Cooking Cooking 80% 78% Motors Cooking Motors Cooking Q4 2024 22,4 88,1 110,5 FY 2024 99,0 353,1 452,1 Currency -0,0 -1,3 - 1,3 Currency -0,0 -3,2 - 3,3 -0,0% -1,5% -1,2% -0,0% -0,9% -0,7% ORGANIC Growth +0,3 +1,5 +1,8 ORGANIC Growth +4,1 +7,7 +11,7 +1,5
Slide 13: Cooking Sales by Region
Cooking Sales by Region Q4 FY 8% 8% 16% 20% Americas Americas EMEA EMEA Asia Asia 76% 72% Americas Emea Asia Cooking Americas Emea Asia Cooking Q4 2024 17,7 61,7 8,7 88,1 FY 2024 69,1 256,3 27,6 353,1 Currency -1,2 +0,6 -0,6 -1,3 Currency -3,4 +1,0 -0,9 -3,2 -7,0% +0,9% -7,4% -1,5% -4,9% +0,4% -3,2%
Slide 14: Cooking Sales by Brand
Cooking Sales by Brand Q4 FY 40% 41% OEM OEM Own Brand Own Brand 60% 59% OEM Own Brand Cooking OEM Own Brand Cooking Q4 2024 33,9 54,4 88,1 FY 2024 145,4 207,8 353,1 Currency -0,7 -0,6 -1,3 Currency -2,3 -1,0 -3,2 -2,2% -1,0% -1,5% -1,6% -0,5% -0,9% ORGANIC Growth +2,2 -0,8 +1,5 ORGANIC Growth +5,2
Slide 15: Q4 & FY Financial Review
04 Q4 & FY Financial Review Q4 & FY 2025 Results
Slide 16: Q4 & FY '25 Results
Q4 & FY ‘25 Results Q4 FY CHANGES vs. PRIOR YEAR €M Q4 2025 Q4 2024 % VAR FY 2025 FY 2024 % VAR Q4 FY NET SALES 111,1 110,5 +0,5 460,6 452,1 +8,5 VOLUME + + PRICE / MIX -- -- ADJUSTED EBITDA 5,8 6,8 -1,0 27,7 31,4 -3,7 INVESTMENT COOKING TRANSFORMATION - -- % NET SALES 5,2% 6,1% -90 bps 6,0% 6,9% -9
Slide 17: Net Financial Position
Net Financial Position €M FY 2025 FY 2024 VAR ▪ Operating FCF in line with previous year, despite lower EBITDA, supported by CAPEX optimization and NWC management. OPENING NFP (57,0) (53,4) (3,6) IFRS 16 EFFECT 10,2 12,1 (1,9) ▪ €5M cash-out related to strategic projects: • €2.5M for the payment of
Slide 18: Closing Remarks
05 Closing Remarks Q4 & FY 2025 Preliminary Results
Slide 19: Closing Remarks
Closing Remarks Business transformation delivering incremental growth, but persisting uncertainty ahead 2025 ▪ Back to Growth in Weak Reference Markets ; Encouraging Dynamics in both Divisions ▪ Investing Margins to accelerate Mid -Term Objectives ▪ Solid Cash Generation & NWC Management 2026 ▪ New
Slide 20: Direction is Right: Cooking Brand Sales Growth
Direction is Right: Cooking Brand Sales Growth 2025 BRAND REVENUES 2025 REVENUE SHARE COOKING RANGE TREND 2023 - 2025 Cooking & BI Category €M vs. PY 6,7% 6,7% C. Hoods 153,3 (4,7) Asp. Hobs C. Hoods Asp. Hobs 47,7 +0,4 22% 71,3% Cooking & BI 14,0 +7,3 BRAND TOT 215,0 +3,0 FY 2023 FY 2024 FY 2025
Slide 21: Direction is Right: Motors Project Pipeline
Direction is Right: Motors Project Pipeline NEW APPLICATIONS START OF PRODUCTION Heat Pumps & HP Water Heather 2026 2027 2028 2029 2030 Air To Water Heat Pumps (AXIAL) Water Heather Heat Pump (RADIAL) Refrigeration Commercial Cooling (MOTOR & FAN) Centralized Mechanical Ventilation Heat Recovery Uni
Slide 22: 2026 & Mid-Term: Risks & Mitigations
2026 & Mid - Term: Risks & Mitigations Unpredictable Business Environment vs. proven flexibility and operational excellence RISKS MITIGATIONS ▪ Industry Trend ▪ New Cooking Products ▪ Price Erosion & Market Demand ▪ Motors Pipeline ▪ Geopolitical Uncertainty ▪ New Channels/Geo ▪ Competition Dynamics
Slide 23: Q&A
Q&A
Slide 24: Mid-Term Vision
Mid - Term Vision Cooking Motors Upside Potentials Elica Rebranding Group ENLARGED LHOV, Built -in New Range, New EC Motors, ACCRETIVE M&A PRODUCT RANGE New Cooktops for NA Market Heat Pumps, Hydrogen «Boots on the Ground» in HOUSING & REMODELLING WIDER DISTRIBUTION NETWORK North America & Canada Ar
Slide 25: Thank you
Thank you =\|(er=
Slide 26: Annex: Financial Highlights
Annex: 06 Financial Highlights Q4 & FY 2025 Preliminary Results 26
Slide 27: Consolidated Income Statement
Consolidated Income Statement Q4 FY €M Q4 2025 Q4 2024 % €M FY 2025 FY 2024 % NET SALES 111,1 110,5 0,5% Net Sales 460,6 452,1 1,9% EBITDA Adj 5,8 6,8 (14,4)% EBITDA Adj 27,7 31,4 (11,8)% % 5,2% 6,1% -90 bps % 6,0% 6,9% -90 bps EBITDA 4,1 5,1 (21,1)% EBITDA 24,0 28,0 (14,4)% % 3,6% 4,6% -100 bps % 5
Slide 28: Net Working Capital
Net Working Capital €M FY 2025 FY 2024 Δ Trade receivables 39,4 34,8 4,5 % on annualized sales 8,5% 7,7% 80 bps Inventories 86,7 86,1 0,6 % on annualized sales 18,8% 19,0% -20 bps Trade payables (129,2) (112,8) (16,41) % on annualized sales -28,1% -24,9% -320 bps Managerial Working Capital (3,2) 8,1
Slide 29: Consolidated Cash Flow
Consolidated Cash Flow €M FY 2025 FY 2024 Operating Cash Flow 28,1 26.8 Capex (13,5) (17.1) Cash Flow from Financial Activities (20,0) (13.8) Net Financial Position (5,4) (4.1) 29
Slide 30: Consolidated B/S
Consolidated B/S FY 2025 FY 2024 FY 2025 FY 2024 Net Operating Fixed Assets 198,1 192,9 Net Financial Position * 68,8 56,5 Net Working Capital -8,9 2,3 Group Equity 120,9 133,5 Minorities 6,3 6,1 Net Financial Asset 6,8 0,9 Total Shareholders’ Equity 127,2 139,6 Net Capital Employed 196,0 196,1 Tota
Slide 31: Non Recurring items & Minorities
Non Recurring items & Minorities Non Recurring items €M Q4 2025 FY 2025 Q4 2024 FY 2024 CHINA (1,7) (2,1) - - RESTRUCTURING (0,4) (1,5) (1,4) (1,9) SG&A PATENTS - (0,3) - - OTHERS (0,3) (0,7) (0,3) (1,5) Total Non (2,4) (4,6) (1,7) (3,4) Recurring Items Minorities €M MINORTY MINORTY Q4 2025 FY 2025
Slide 32: Disclaimer
Disclaimer This presentation Aug contain forwards -looking information and statements about Elica S .p.A . and its Investor Relations | Lerxi Group . Francesca Cocco T +39 (0)732 610 4205 Forward -looking statements are statements that are not historical facts . investor -relations@elica.com These s