GEOX GROUP 1H19 RESULTS PRESENTATION JULY 30, 2019 1H19 RESULTS* | - - PowerPoint PPT Presentation

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GEOX GROUP 1H19 RESULTS PRESENTATION

JULY 30, 2019

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1H19 RESULTS* | HIGHLIGHTS

• TOTAL SALES:EURO 399.4 MILLION, -3.5% (-3.6% AT COSTANT FOREX) MAINLY EXPLAINED BY:
• LOW SINGLE DIGIT DECREASE FOR WHOLESALE (-2.8%) WITH AN IMPROVING TREND COMPARED TO THE SS19 INITIAL ORDER

COLLECTION (-9.1%) THANKS TO HIGHER SALE OF OLD SEASONS STOCK AND HIGHER IN-SEASON RE-ORDERS.

• SLIGHT INCREASE FOR DOS (+0.8%) AS A RESULT OF A POSITIVE SPACE EFFECT AND A LOW SINGLE DIGIT NEGATIVE LFL (-2.2%)

MAINLY DUE TO UNUSUAL WEATHER CONDITIONS IN APRIL AND MAY. DOUBLE DIGIT GROWTH FOR THE DIRECT ONLINE CHANNEL (+26%).

• DECREASE FOR THE FRANCHISING CHANNEL (-21.9%) MAINLY DUE TO A NEGATIVE PERIMETER EFFECT (APPROX. -10%), A MID -

SINGLE DIGIT NEGATIVE LFL AND SOME DELIVERY SHIFTS THAT WILL BE RECOVERED IN 2H19

• GROSS MARGIN: +50 BPS VS 1H18
• EBITDA*: EURO 18.7 MILLION (EURO 25.2 MILLION IN 1H18)
• NET FINANCIAL POSITION (ANTE IFRS 16 APPLICATION): EURO - 30.8 MILLION (EURO -19.7 MILLION IN 1H18)
• NEW IMPORTANT COLLABORATIONS WITH WWF AND DISNEY FOR KIDS

*The IFRS 16 reporting standard came into force on January 1, 2019. The figures in this presentation and the relative comments, unless otherwise specified, exclude the effects of applying this standard in order to allow for a correct comparison with the previous year. The following schemes show the individual effects of applying the new standard for Geox Group at June 30, 2019. EBITDA excluding the effects of adopting the new IFRS 16 reporting standard

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1H19 RESULTS | NET SALES BY CHANNEL

NET SALES BY CHANNEL (MLN €)

191 49 174 414 186 38 176 399 WHOLESALE FRANCHISING DOS TOTAL 1H18 1H19

NET SALES BY CHANNEL (IN %)

DOS 44% [42%*] FRANCHISING 10% [12%*] WHOLESALE 46% [46%*]

*[1H18]

• 2.8%
• 2.7% c.FX
• 21.9%
• 21.8% c.FX

+0.8% +0.5% c.FX

• 3.5%
• 3.6% c.FX

WHOLESALE

• QUALITY OVER QUANTIY STRATEGY ONGOING
• IMPROVED TREND COMPARED TO INITIAL ORDER

COLLECTION (-9.1%) THANKS TO HIGHER SALE OF OLD SEASONS STOCK (DRIVEN BY THE INCREASE IN INVENTORIES IN 2018) AND HIGHER IN SEASON RE- ORDERS

FRANCHISING

• NEGATIVE SPACE EFFECT (APPROX. -10% VS 1H18).

48 NET CLOSURES AND CONVERSION TO DOS IN 1H19

• LFL MID-SINGLE DIGIT NEGATIVE
• SOME DELIVERY SHIFTS THAT WILL BE RECOVERED

IN 2H19

• FRANCHISING RECAPTURE IS NOT PART OF THE

STRATEGY

DOS

• LFL SLIGHTLY NEGATIVE (-2.2%) AFTER A WEAK

PERFORMANCE IN APRIL AND MAY

• SLIGHTLY POSITIVE SPACE EFFECT
• DOUBLE DIGIT GROWTH (+26%) FOR THE ONLINE

CHANNEL

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LFL DOS (ONLINE AND OFFLINE)

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1H19 RESULTS | LFL DOS

LFL DOS ONLINE

• 8.9%
• 4.7%
• 4.3%
• 2.3%

3.4%

• 2.2%

1Q18 1H18 9M18 FY18 1Q19 1H19

LFL BY QUARTER 8.1% 8.2% 7.8% 11.7% 25.0% 26.0%

1Q18 1H18 9M18 FY18 1Q19 1H19

LFL BY QUARTER

ONLINE CHANNEL INSOURCED IN EUROPE IN JULY 2018 2Q19 TRADING AFFECTED BY A DIFFICULT APRIL/ MAY (UNUSUAL WEATHER AND TOUGH COMPARISON BASE). TREND BACK TO POSITIVE IN JUNE, BUT SOFT BEGINNING OF SALES SEASON

DIRECT ONLINE CHANNEL IN NORTH AMERICA: INSOURCING CONCLUDED IN JUNE 2019

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1H19 RESULTS | NET SALES BY REGION

ITALY

• NEGATIVE TREND FOR WHOLESALE AND FRANCHISING MAINLY DUE

TO RATIONALIZATION AND NETWORK OPTIMIZATION (IN LINE WITH STRATEGIC PLAN)

• LOW SINGLE DIGIT GROWTH FOR DOS AS A CONSEQUENCE OF A

POSITIVE SPACE EFFECT AND A SLIGHTLY NEGATIVE LFL.

• DIRECT ONLINE CHANNEL: +29%

EUROPE

• WHOLESALE SLIGHTLY NEGATIVE MAINLY DUE TO QUALITY OVER

QUANTITY STRATEGY

• LOW SINGLE DIGIT GROWTH FOR DOS: LFL FLAT (BETTER THAN

GROUP AVERAGE) AND A SLIGHTLY POSITIVE SPACE EFFECT.

• DIRECT ONLINE CHANNEL: +35%

NORAM

• CLEANING UP OF THE EXISTING WHOLESALE DISTRIBUTION
• LFL DOS LOW SINGLE DIGIT NEGATIVE IN USA; STRONG COMMITMENT

TO RE-FOCUS BUSINESS ON THE MOST APPROPRIATE LOCATIONS.

• DIRECT ONLINE CHANNEL (INSOURCED IN JUNE 2019): +36%

ROW

• POSITIVE PERFORMANCE DRIVEN MAINLY BY EASTERN EUROPE THAT

SHOWED A HIGH SINGLE DIGIT GROWTH IN LFL DOS AND A DOUBLE DIGIT GROWTH IN WHOLESALE

• APAC: WHOLESALE SLIGHTLY POSITIVE AND DOS LOW SINGLE DIGIT

NEGATIVE ALSO AFFECTED BY HK TURMOIL AND CHANGES TO OPERATIONS IN CHINESE DIRECT ONLINE

NET SALES BY REGION (MLN €)

124 180 24 86 414 116 175 22 86 399 ITALY EUROPE NORAM ROW TOTAL 1H18 1H19

NET SALES BY REGION (IN %)

ITALY 29% [30%*] EUROPE 44% [43%*] ROW 22% [21%*] NORAM 6% [6%*]

*[1H18]

• 6.5%
• 6.5% c.FX
• 2.8%
• 2.9% c.FX
• 8.6%
• 10.0% c.FX
• 3.5%
• 3.6% c.FX

+0.7% +1.0% c.FX

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DOUBLE-DIGIT GROWTH (+18%) FOR APPAREL IN DOS THANKS TO A POSITIVE PERFORMANCE OF THE NEW COLLECTION. ALSO VERY POSITIVE REACTION TO FW 19 COLLECTION BY WHOLESALE PARTNERS

377 37 414 364 35 399

FOOTWEAR APPAREL TOTAL 1H18 1H19

NET SALES BY PRODUCT (IN %)

APPAREL9% [9%*] FOOWEAR 91% [91%*]

*[1H18]

NET SALES BY PRODUCT (MLN €)

TOTAL

• 3.5%
• 3.6% c.FX

APPAREL

• 5.8%
• 5.6% c.FX

FOOTWEAR

• 3.3%
• 3.4% c.FX

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1H19 RESULTS | NET SALES BY PRODUCT

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1H19 RESULTS| NEW IMPORTANT PROJECTS

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IMPORTANT COLLABORATION WITH WWF FOR KIDS A SUSTAINABLE VERSION OF OUR ICONIC NEBULATM

SUSTAINABLE MATERIALS SUCH AS RECYCLED COTTON RECYCLED RUBBER AND LWG CERTIFIED LEATHERS A FULLY SUSTAINABLE POLYESTER UPPER MADE FROM RECYCLED BOTTLES

IMPORTANT COLLABORATION WITH DISNEY FOR KIDS

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1H19 RESULTS|GEOX SHOPS NETWORK

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JUNE 30, 2019 ITALY EUROPE NORTH AMERICA RoW* TOTAL GEOX SHOPS

• f which DOS

DECEMBER 31, 2018 GEOX SHOPS

• f which DOS

286

143

285

154

37 407

110

1,015

444

*Includes Under Distribution Agreement Shops (133 as of June 2019 138 as of December 2018 vs 150 as of June 2018) which are shops opened under license by partners in the Middle East and in the Far East. Sales from these shops are not

included in the franchising channel

RETAIL NETWORK – # GEOX SHOPS -

279 149 274 156 36 36 398 107 987 448

37

GEOX SHOPS EVOLUTION IN 1H19

NET OPENINGS OPENINGS ITALY EUROPE NORTH AMERICA RoW* TOTAL CLOSURES (7) (11) (1) (28) (9) 1 4

• 28

23 (8) (15) (1) (56) (32) X-STORE ROLL OUT PLAN UPDATE 180 X-STORE AT THE END OF 1H19 FROM 136 AT THE END OF FY18 JUNE 30, 2018 GEOX SHOPS

• f which DOS

291

140

294

152

39 416

105

1,040

436 39

FRANCHISING EVOLUTION

FY17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19

TOTAL NUMBER 488 458 454 440 433 415 406 DELTA

• 62
• 30
• 4
• 14
• 7
• 18
• 9

DELTA 2Q19 VS 2Q18 = -48 POS

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1H19 RESULTS|INCOME STATEMENT

GROSS MARGIN INCREASE (+50 BPS) MAINLY THANKS TO SPECIFIC MEASURES ON SUPPLY CHAIN EFFICIENCY AND TO CHANNEL MIX. PART OF THE INDUSTRIAL MARGIN IMPROVEMENT HAS BEEN ABSORBED BY THE HIGHER PROMOTIONAL SALES DONE IN 2Q19 SELLING AND DISTRIBUTION COSTS DOWN BY 1.2 MILLION G&A TREND REFLECTED MAINLY THE HIGHER COSTS RELATED TO DOS PERIMETER INCREASE AND TO LOGISTICS TAXES AT EURO 3.2 MILLION. IT IS IMPORTANT TO UNDERLINE THAT THE GROUP DID NOT RECOGNIZE APPROX. EURO 2.5 MILLION OF DEFERRED TAX ASSETS

(EURO MLN) 1H19 IFRS 16 IMPACT 1H19 EXCLUDING IFRS 16 IMPACT

IN %

1H18

IN %

NET SALES 399.4 399.4

100%

414.1

100%

COST OF SALES (196.1) (196.1)

(49.1%)

(205.2) (49.6%) GROSS PROFIT 203.3 203.3

50.9%

208.9

50.4%

SELLING & DISTRIBUTION (22.4) (22.4)

(5.6%)

(23.6)

(5.7%)

G&A (165.1) (1.2) (166.3)

(41.6%)

(161.6) (39.0%) A&P (13.0) (13.0)

(3.3%)

(12.8)

(3.1%)

EBIT ADJ 2.8 (1.2) 1.6

0.4%

10.9

2.6%

SPECIAL ITEMS

• (2.1)

(0.5%)

EBIT 2.8 (1.2) 1.6

0.4%

8.8

2.1%

NET FINANCIAL EXPENSES (4.9) 2.6 (2.3)

(0.6%)

(2.4)

(0.6%)

EBT (2.1) 1.4 (0.7)

(0.2%)

6.4

1.5%

INCOME TAXES (2.9) (0.3) (3.2)

(0.8%)

(4.8)

(1.2%)

NET RESULT (5.0) 1.1 (3.9)

n.m.

1.5

0.4%

EBITDA 54.0 (35.4) 18.7

4.7%

25.2

6.1%

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1H19 RESULTS|BALANCE SHEET

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(EURO MLN) JUNE 2019 IFRS 16 IMPACT JUNE 2019 EXCLUDING IFRS 16 IMPACT DEC 2018 JUNE 2018 INTANGIBLE ASSETS 47.2 47.2 50.2 47.9 TANGIBLE ASSETS 377.2 (313.0) 64.2 65.8 60.0 OTHER FIXED ASSETS, NET 36.4 1.5 37.9 39.1 37.0 TOTAL FIXED ASSETS 460.8 (311.5) 149.3 155.1 144.9 OPERATING WORKING CAPITAL 235.5 235.5 209.1 252.6 OTHER CURRENT ASSETS (LIABILITIES), NET (16.8) (1.1) (17.9) (17.7) (22.8) INVESTED CAPITAL 679.5 (312.6) 366.9 346.5 374.7 NET FINANCIAL POSITION (CASH) 344.4 (313.7) 30.8 (2.3) 19.7 STAFF SEVERANCE AND RISK FUND 8.4 8.4 8.1 7.4 SHAREHOLDERS’EQUITY 326.6 1.1 327.7 340.8 347.6 INVESTED CAPITAL 679.5 (312.6) 366.9 346.5 374.7

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OPERATING WORKING CAPITAL EVOLUTION

(EURO MILLION)

OPERATING WORKING CAPITAL AS A PERCENTAGE OF SALES DECREASED TO 29.0% IN JUNE 2019 (29.8% AS AT JUNE 2018) THIS IMPROVEMENT IS MAINLY DUE TO THE PERFORMANCE OF RECEIVABLES (IN LINE WITH SALES TREND IN WHOLESALE AND FRANCHISE) INVENTORIES DOWN BY APPROX 12 MLN€ VS JUNE 2018

OPERATING WORKING CAPITAL DETAILS

(EURO MILLION) (EURO MLN) 1H19 1H18* CHG FY18 INVENTORIES 292.4 304.0 (11.6) 312.1 ACCOUNT RECEIVABLES 148.6 182.3 (33.7) 133.1 ACCOUNT PAYABLES (205.5) (233.6) 28.1 (236.0)

• OP. WORKING CAPITAL

235.5 252.6 (17.2) 209.1 % ON SALES 29.0% 29.8%

• 80 BPS

25.3%

1H19 RESULTS|OPERATING WORKING CAPITAL

*Data restated in compliance with IFRS 15

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218 192 214 227 194 252 226 209 253 235

2011 2012 2013 2014 2015 2016 2017 2018 1H18 1H19

24.5% 23.8% 28.3% 27.5% 22.2% 28.0% 25.6% 25.3%

% OF SALES

29.0% 29.8%

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1H19 RESULTS|CASH FLOW STATEMENT

NET FINANCIAL POSITION, EXCLUDING IFRS 16 IMPACT AT -30.8 MLN€ (-19.7 MLN IN JUNE 18).

• FUNDS FROM OPERATIONS AT 17 MLN IN LINE

WITH LAST YEAR

• GOOD CONTROL OF THE WORKING CAPITAL
• CAPEX AT EURO 12 MILLION (IN LINE WITH 1H18)

MAINLY RELATED TO DOS (NEW OPENINGS /RESTYLINGS) AND IT INVESTMENTS

• DIVIDENDS PAYMENT FOR EURO 6.5 MILLION (15.6

IN 1H18)

• TREASURY SHARES BUY BACK (NOT PRESENT IN

1H18) EQUAL TO EURO 0.7 MILLION EURO

• FAIR

VALUE ADJUSTEMENT OF DERIVATIVE CONTRACTS AT 0.7 MILLION EURO (IN LINE WITH 1H18) 12 (EURO MLN) JUNE 2019 INCLUDING IFRS 16 IMPACT IFRS 16 IMPACT JUNE 2019 EXCLUDING IFRS 16 IMPACT JUNE 2018 DEC 2018

NET RESULT (5.0) 1.1 (3.9) 1.5 (5.3) DEPRECIATION & AMORTIZATION 51.3 (34.2) 17.1 16.4 33.0 OTHER NON CASH ITEMS 4.0 0.3 4.3 1.7 1.4 FUNDS FROM OPERATIONS 50.3 (32.8) 17.5 19.7 29.1 CHANGE IN OPERATING WORKING CAPITAL (22.1)

• (22.1)

(31.3) 7.1 CHANGE IN OTHER CURRENT ASSETS, NET (1.2) 0.4 (0.8) 3.8 (5.0) OPERATING CASH FLOW 26.9 (32.4) (5.5) (7.8) 31.2 CAPITAL EXPENDITURES (12.5)

• (12.5)

(12.2) (37.4) DISPOSALS 0.3

• 0.3

0.4 0.5 CAPITAL EXPENDITURES, NET (12.2)

• (12.2)

(11.9) (36.9) FREE CASH FLOW 14.7 (32.4) (17.7) (19.6) (5.7) TREASURY SHARES BUY BACK (0.7)

• (0.7)
• DIVIDENDS

(6.5)

• (6.5)

(15.6) (15.6) CHANGE IN NET FINANCIAL POSITION 7.5 (32.4) (24.8) (35.2) (21.3) NET FINANCIAL POSITION PRIOR TO FAIR VALUE ADJ,

• BEG. OF THE PERIOD

(6.8)

• (6.8)

15.1 15.1 IFRS 16 FIRST TIME ADOPTION (01/01/2019) (325.9) 325.9

• NET FINANCIAL POSITION PRIOR TO FAIR VALUE ADJ,
• BEG. OF THE PERIOD

(332.7) 325.9 (6.8) 15.1 15.1 CHANGES IN NET FINANCIAL POSITION 7.5 (32.4) (24.8) (35.2) (21.3) EFFECT OF TRANSLATION DIFFERENCES 0.3 (0.2) 0.1 (0.4) (0.7) INCREASE IN RIGHT OF USE (20.3) 20.3

• NET FINANCIAL POSITION PRIOR TO FAIR VALUE ADJ,

END OF THE PERIOD (345.2) 313.7 (31.5) (20.5) (6.8) FAIR VALUE ADJUSTEMENT OF DERIVATIVE CONTRACTS 0.7 0.7 0.8 9.1 NET FINANCIAL POSITION, END OF THE PERIOD (344.4) 313.7 (30.8) (19.7) 2.3

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OUTLOOK 2019

THE PRUDENT AND SELECTIVE APPROACH AND RATIONALISATION OF THE WHOLESALE CHANNEL, AIMED AT SUPPORTING THE GROUP'S SOLIDITY AND IMAGE, HAVE ALSO CHARACTERISED INITIAL ORDER COLLECTION FOR THE 2019 AUTUMN/WINTER SEASON. MANAGEMENT BELIEVES THAT ANNUAL SALES IN THE WHOLESALE CHANNEL WILL SHOW A LOW TO MID SINGLE DIGIT DECLINE COMPARED WITH 2018 FIGURES. THESE EXPECTATIONS SHALL NONETHELESS BE DEFINED BY THE ACTUAL PERFORMANCE OF ADDITIONAL RESTOCKING ORDERS DURING THE SEASON, WHICH ARE GRADUALLY ASSUMING AN INCREASINGLY SIGNIFICANT ROLE FOR THE FINAL SALES FIGURES. THE OPTIMISATION OF THE NETWORK OF FRANCHISED STORES, MANAGED BY THIRD PARTIES, SHALL CONTINUE IN THE SECOND HALF OF THE YEAR, ALBEIT WITH LESS INTENSITY THAN IN THE PREVIOUS TWO QUARTERS. FULL-YEAR SALES IN THE FRANCHISING CHANNEL ARE THEREFORE EXPECTED TO FALL AS A RESULT OF THE NETWORK EFFECT (-10%) AND LIKE-FOR-LIKE SALES PERFORMANCE. THE EFFECT OF DIFFERENT DELIVERY TIMINGS, ON THE OTHER HAND, WOULD BE REABSORBED, MEANING THAT THE TREND IS EXPECTED TO IMPROVE COMPARED WITH THE FIRST HALF OF THE YEAR. A NUMBER OF NEW DIRECTLY OPERATED STORES (DOS) WILL BE OPENED (ESPECIALLY IN CHINA), A LIMITED AND LOWER NUMBER OF FRANCHISED STORES WILL BE CONVERTED INTO DOS AND CERTAIN NON-PERFORMING DOS WILL BE CLOSED. OVERALL, THESE INITIATIVES WOULD LEAD TO A SLIGHT INCREASE IN THE SIZE OF THE NETWORK (LOW TO MID SINGLE DIGIT) COMPARED TO 2018. THE ONGOING RESTYLING PLAN WILL CONTINUE, AIMED AT IMPROVING PERFORMANCE, WITH THE INTRODUCTION OF NEW WINDOW DISPLAYS, NEW ASSORTMENT STRATEGIES AND NEW POLICIES FOR IN-STORE VISUALS. AFTER A SLIGHTLY NEGATIVE FIRST HALF, THE LIKE-FOR-LIKE SALES TREND IS EXPECTED TO IMPROVE IN THE SECOND HALF, THANKS ALSO TO THE INCREASING IMPACT OF THE RETAIL EXCELLENCE PROGRAMMES THAT ARE CURRENTLY UNDERWAY. THESE EXPECTATIONS MUST NONETHELESS GRAPPLE WITH THE OVERALL PERFORMANCE OF KEY RETAIL DYNAMICS IN THE GROUP’S MAIN MARKETS (FOOTFALL, PROPENSITY TO MAKE PURCHASES, THE RATE OF PROMOTIONAL SALES, ETC.), GIVING FORECASTS A HIGH LEVEL OF VOLATILITY. TOTAL NUMBER OF MONO-BRAND STORES (DOS AND FRANCHISING) IS EXPECTED TO REMAIN SUBSTANTIALLY STABLE COMPARED TO THE END OF JUNE 2019, SO CONFIRMING THE PERIMETER EFFECTS SEEN IN THE FIRST HALF OF 2019. THE DIRECT E-COMMERCE CHANNEL IS EXPECTED TO CONTINUE TO GROW AT A STRONG PACE AND WILL ALSO BENEFIT FROM A NUMBER OF ADVANCED CRM TOOLS THAT HAVE BEEN LAUNCHED. IT PROJECTS AND INVESTMENTS WILL ALSO CONTINUE, IN LINE WITH THE STRATEGIC BUSINESS PLAN, IN ORDER TO SUPPORT THE BUSINESS AND GUARANTEE A TRULY OMNICHANNEL OPERATING MODEL. THE INITIATIVES TO FURTHER INCREASE PRODUCTIVITY, ENSURE A LEAN ORGANIZATION AND BOOST OPERATING EFFICIENCY, WHICH WERE SUCCESSFULLY IMPLEMENTED IN 2018, WILL CONTINUE ALSO IN 2019. BASED ON THE ABOVE ESTIMATES AND ASSUMPTIONS, MANAGEMENT WOULD THEREFORE LIKE TO STRESS THAT 2019 IS TO BE CONSIDERED A YEAR OF TRANSITION, CHARACTERIZED BY NETWORK OPTIMIZATION IN THE WHOLESALE AND FRANCHISING CHANNELS AND BY THE IMPLEMENTATION OF PROJECTS TO IMPROVE THE BUSINESS MODEL, IN ACCORDANCE WITH THE NEW STRATEGIC BUSINESS PLAN. TOTAL SALES AT THE END OF THE YEAR WILL THEREFORE SUBSTANTIALLY DEPEND ON THIS RATIONALIZATION PROCESS AND ON LIKE-FOR-LIKE SALES PERFORMANCE FOR DIRECTLY-OPERATED AND FRANCHISED STORES. AS A RESULT, AND CONSIDERING THE HIGH LEVEL OF VOLATILITY IN THE INDUSTRY, IT IS ASSUMED THAT A CERTAIN DEGREE OF PRUDENCE IS NECESSARY FOR ANNUAL SALES FORECASTS COMPARED WITH 2018. THE ACTUAL INCIDENCE OF PROMOTIONAL SALES IN THE SECOND HALF OF THE YEAR WILL ALSO CONTRIBUTE TO DEFINING THE IMPROVEMENTS IN INDUSTRIAL MARGIN ACHIEVED TO DATE; DEPENDING ON THE EXTENT TO WHICH MARKDOWNS ARE APPLIED IN THE SECOND HALF OF THE YEAR COMPARED WITH THE FIRST HALF, THE EXPECTED IMPROVEMENT IN GROSS MARGIN MAY THEREFORE BE CONFIRMED.

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ANNEXES

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1H19 RESULTS |SHAREHOLDERS, GOVERNANCE AND CONTACTS

SHAREHOLDERS

LIR* 71% MARKET 29%

INVESTOR RELATIONS – CONTACTS -

*MORETTI POLEGATO’S FAMILY

CHAIRMAN MARIO MORETTI POLEGATO CEO MATTEO MASCAZZINI DEPUTY CHAIRMAN ENRICO MORETTI POLEGATO DIRECTOR CLAUDIA BAGGIO DIRECTOR ALESSANDRO GIUSTI DIRECTOR LIVIO LIBRALESSO INDIPENDENT DIRECTOR ERNESTO ALBANESE INDIPENDENT DIRECTOR LARA LIVOLSI INDIPENDENT DIRECTOR FRANCESCA MENEGHEL INDIPENDENT DIRECTOR ALESSANDRA PAVOLINI NOVEMBER 14 9M19 SALES SIMONE MAGGI IR@GEOX.COM TEL: +39 0423 282476 MOBILE:+39 335 1295349 LIVIO LIBRALESSO, GENERAL MANAGER –CORPORATE, CFO GEOX S.P.A. VIA FELTRINA CENTRO, 16 - 31044 BIADENE DI MONTEBELLUNA, TREVISO (ITALY)

DISCLAIMER

FIGURES ARE REPORTED UNDER IAS/IFRS. CERTAIN STATEMENTS MADE IN THIS PRESENTATION ARE FORWARD LOOKING STATEMENT. SUCH STATEMENTS ARE BASED ON CURRENT EXPECTATIONS AND ARE SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM ANY EXPECTED FUTURE RESULTS IN FORWARD LOOKING STATEMENTS. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN INVITATION TO UNDERWRITE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE OR DISPOSE OF ANY GEOX S.P.A. SHARES. ANY REFERENCE TO PAST PERFORMANCE IS NOT A GUIDE TO FUTURE PERFORMANCE.

2019 FINANCIAL CALENDAR

15

BOARD OF DIRECTORS