Elica S.p.a. · MIL:ELC
Elica — Q1 2026 Earnings Presentation
38 slides from Elica's earnings presentation, Apr 29, 2026
Slide 1: Q1 2026 Results – Analyst Presentation
Q1 2026 Results April 29 th , 2026 ANALYST PRESENTATION
Slide 2: Agenda
Agenda Q1 26 Highlights Industry Trend Sales Dynamics .01 .02 .03 Financial Review Closing Remarks Annex: .04 .05 5 & Outlook .06 Financial Highlights Q1 2026 Results 2
Slide 3: Highlights Q1
Highlights Q1 Margins remain resilient , while macro concerns persist Business environment still uncertainty, Positive Dynamics NET SALES YoY CHANGE Brand Sales 111,2 M€ - 7,6 M € ▪ Cooking Division : keep growing brand sales in North America, good brand sales in - 6,4% (-4,8% organic) EMEA despite
Slide 4: Industry Trend
02 Industry Trend Q1 2026 Results
Slide 5: Europe: Industry Shipments
Europe: Industry Shipments Volume Data Change % vs LY Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Ytd Feb '26 2% 0% -2% Kitchen hoods -4% Market Size (2025): 5,8 M units -6% -8% 2024 2025 2026 20% Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Ytd Feb '26 18% 16%
Slide 6: Persisting high promotional environment
Persisting high promotional environment 2024 - 2025 - 2026 AVERAGE PRICE TREND IN EUROPE ( Excluding Russia) Kitchen hoods Extractor hobs Delta vs LY Delta vs LY - 5,2% - 6,0% - 6,7% - 4,6% - 1,5% - 3,2% - 5,9% - 4,1% - 2,6% - 2,0% - 4,6% - 4,8 % - 2,4% - 4,1% - 5,1% - 5,0% - 7,8 % - 8,0 % 2024 2025
Slide 7: North America: Industry Shipments
North America: Industry Shipments Volume Data Change % vs LY Ventilation Cooking (*) FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 FY 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 10% 10% 5% 5% 0% 0% -5% -5% -10% Jan:+14% -10% Feb : -9% -15% Mar: -12% -15% -20% -20% -25% (*) Cooking Excluding Micro
Slide 8: 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 Q4 '22 '22 '22 '22 '23 '23 '23 '23 '24 '24 '24 '24 '25 '25 '25 '25 Var. vs PY - 14% - 22% - 10% - 5% - 2% - 14% - 14% - 9% Source: EHI – European Heat
Slide 9: Sales Dynamics
03 Sales Dynamics Q4 & FY 2025 Results
Slide 10: Sales Key Drivers & Regional Overview
Sales Key Drivers & Regional Overview Sales Key Drivers Sales by Business - 7,6 M € - 6,4 % 22% 118,8 - 5,7 - 1,9 Motors 111,2 - 4,8% Cooking - 1,6% 78% M€ Q1 2025 Q1 2026 Organic Currency Net Sales Net Sales Motors Cooking Q1 2025 27,6 91,2 118,8 OEM America destocking and FX negatively impact Cook
Slide 11: Cooking Sales by Region & by brand
Cooking Sales by Region & by brand Cooking Sales by Region Cooking Sales by brand* 8% 17% Americas 32% EMEA OEM Asia Brand 68% 75% Americas Emea Asia Cooking OEM Brand Cooking Q1 2025 19,0 64,3 7,9 91,2 Q1 2025* 31,3 60,0 91,2 Currency -1,2 +0,1 -0,8 - 1,9 Currency -0,6 -1,3 - 1,9 -6,4% +0,2% -10,1%
Slide 12: From the Ventilation Leader towards a Brand Cooking company
From the Ventilation Leader towards a Brand Cooking company… Q1 2026 80,0 BRAND Sales* Worldwide 70,0 VENTILATION +2,5 M € 60,0 55 +0,5 55 50,0 -2,2 VARIANCE VS FY 2025 40,0 30,0 20,0 10,0 - Q1 2025 Cooker Hoods Asp. Hobs Ind. Hobs LHOV Range Cookers Fridges Wine Cooler Ovens Q1 2026 ~7% (3,6 M €) S
Slide 13: Americas Sales Highlights
Americas Sales Highlights Americas Cooking Sales Brand sales continues the Double - digit growth thanks the new distribution strategy implemented in the region with new product launches and a wider product range: OEM 43% 57% Brand Hobs: Standard RANGE COOKERS and Aspirations €M Q1 2026 VAR vs 2025 O
Slide 14: Salone del Mobile
elica SALONE DEL MOBILE 14
Slide 15: 15
15
Slide 16: Where Cooking has no Borders
elica Where Cooking has no Borders
Slide 17: Elica @Salone del Mobile 2026
Elica @Salone del Mobile 2026 The stand conveys the strength of an international company and its ongoing drive toward the future.
Slide 18: Another strategic step in the world of cooking
Another strategic step in the world of cooking. Elica presents ID Technology , its first line of induction hobs featuring proprietary technology . A scalable platform designed to support Elica’s innovation journey .
Slide 19: Product Novelties
Product Novelties A journey through the brand’s most cutting - edge solutions. 01
Slide 20: The widest range of aspiration hobs on the market continues to evolve
The widest range of aspiration hobs on the market continues to evolve. SUIT S is born: the new platform in the NikolaTesla range.
Slide 21: A complete Cooking Range
A complete Cooking Range. Elica presents Matt Black , the widest range with a matte black finish.
Slide 22: Elica strengthens its leadership in the extractor systems sector
Elica strengthens its leadership in the extractor systems sector. TheKub , the 10 -in-one solution .
Slide 23: Financial Review
04 Q4 & FY Financial Review Q1 2026 Results
Slide 24: Q1 2026 Results
Q1 2026 Results CHANGES vs. PRIOR YEAR €M Q1 2026 Q1 2025 VAR % VAR Q1 NET SALES 111,2 118,8 (7,6) (6,4)% VOLUME -- PRICE / MIX + ADJUSTED EBITDA 6,2 7,0 (0,8) (12,1)% INVESTMENT COOKING TRANSFORMATION - % NET SALES 5,5% 5,9% -40 bps ADJUSTED EBIT 0,5 1,1 (0,6) (52,7)% INFLATION/COST TAKEOUT + CURRE
Slide 25: Net Financial Position
Net Financial Position €M Q1 2026 Q1 2025 VAR ▪ 5M€ Opening Balance delta driven by strategic project carried on LY (Steel, Motor plant, China, Share Buyback) OPENING NFP 68,8 57,0 (11,8) IFRS 16 EFFECT 16,6 10,2 6,4 ▪ Operating FCF negative due to lower EBITDA and CAPEX OPENING NFP - Net of IFRS 16
Slide 26: Closing Remarks
05 Closing Remarks Q1 2026 Results
Slide 27: Closing Remarks
Closing Remarks Q1 Highlights & Take - Aways ▪ Positive brand sales dynamics across both EMEA and North America ▪ Significant pressure on OEM America , with double digit decline driven by significant market decline, uncertainty and destocking activity ▪ Margin protected despite volume drop thanks to
Slide 28: Q&A
Q&A
Slide 29: Strategy: 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 30: Thank you
Thank you =\|(er=
Slide 31: Annex: Financial Highlights
Annex: 06 Financial Highlights Q1 2026 Result s 31
Slide 32: Consolidated Income Statement
Consolidated Income Statement €M Q1 2026 Q1 2025 % NET SALES 111,2 118,8 (6,4)% EBITDA Adj 6,2 7,0 (12,1)% % 5,5% 5,9% -40 bps EBITDA 3,7 6,7 (45,3)% % 3,3% 5,7% -240 bps EBIT (2,0) 0,8 n.a % (1,8%) 0,7% -240 bps Net Result (3,3) (0,7) n.a % (3,0)% (0,6)% -240 bps EPS* - Euro cents (6,21) (1,81) n.a
Slide 33: Net Working Capital
Net Working Capital €M Q1 2026 FY 2025 Δ Trade receivables 32,2 39,4 (7,2) % on annualized sales 7,2% 8,5% 130 bps Inventories 93,3 86,7 6,6 % on annualized sales 21,0% 18,8% 220 bps Trade payables (126,0) (129,2) 3,17 % on annualized sales (28,3)% (28,1)% -20 bps Managerial Working Capital (0,6) (3
Slide 34: Consolidated Cash Flow
Consolidated Cash Flow €M Q1 2026 Q1 2025 Operating Cash Flow (0,9) 5,5 Capex (2,7) (1,9) Cash Flow from Financial Activities (2,4) (4,0) Net Financial Position (5,9) (0,4) Q1 2026 Results 34
Slide 35: Consolidated B/S
Consolidated B/S Q1 2026 Q1 2025 Q1 2026 Q1 2025 Net Operating Fixed Assets 195,2 192,2 Net Financial Position * 74,5 58,6 Net Working Capital (3,4) 2,7 Group Equity 117,1 132,2 Minorities 5,9 5,9 Net Financial Asset 5,5 1,8 Total Shareholders’ Equity 122,9 138,1 Net Capital Employed 197,4 196,7 Tot
Slide 36: Non Recurring items & Minorities
Non Recurring items & Minorities Non Recurring items €M Q1 2026 Q1 2025 RESTRUCTURING SG&A* (2,3) (0,1) OTHERS (0,1) (0,2) Total Non - Recurring Items (2,5) (0,3) *OUT OF WHICH 1,4M € RELATED TO FORMER CEO TRANSACTION AGREEMENT Minorities €M MINORTY MINORTY Q1 2026 Q1 2025 SHARES SHARES ARIAFINA 49%
Slide 37: Cooking Sales Restatement 2025 figures
Cooking Sales Restatment 2025 figures FY 2025 BEFORE RESTATMENT FY 2025 AFTER RESTATMENT 34% OEM 41% OEM Own Brand Own Brand 59% 66% OEM Own Brand Cooking OEM Own Brand Cooking FY 2025 148,3 209,2 357,5 FY 2025 120,5 237,0 357,5 OEM: Customer-driven business model where products are developed accord
Slide 38: 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