Q1 13 Results presentation May 9, 2013 Q1 13 - Highlights Weak - - PowerPoint PPT Presentation

Q1 ’13 Results presentation

May 9, 2013

Q1 ’13 - Highlights

Weak market trend assumed in Europe both in ICC&R and Radiators. Total Net Sales decrease due to strong decrease in Radiators despite moderate increase in ICC&R. EBITDA decrease. Net Profit significant increase. Cash flow generation affected by Adeo TA Receivable.

1

The figures reported in the following document, included some percentages, have been rounded up from the original

• values. Therefore, some totals in the charts may not coincide with the algebrical sum of their addendums.

Q1 ’13 Sales breakdown and mix by Business Line

€M

Q1 ‘13 Q1 ‘12 ∆% ICC&R 60,5 59,7 1,4% % total Q1 ‘13 Q1 ‘12 Δ% ICC&R 83,4% 77,8% +5,6 pp

Sales breakdown by business line Sales mix by business line ICC&R sales increase and Radiators decline. ICC&R weight on total sales is further increased.

2

Radiators 12,0 17,0 (29,4%) Total 72,5 76,7 (5,5%) Radiators 16,6% 22,2%

• 5,6 pp

Total 100,0% 100,0%

• Overall increase
• Europe increase West and

East.

Q1 ’13 ICC&R Sales Trend by Geography - Change % vs. Q1’ 12

€M €M

Q1 ‘13

% tot

QQ1 ‘12

% tot

Δ% Europe 43,8

72,4%

43,1

72,3% 1,4% East.

• Asia increase.
• ROW fluctuation.

3

Asia 13,2

21,8%

12,9

21,6% 2,0%

RoW 3,5

5,8%

3,7

6,1% (3,1%)

Total 60,5

100,0%

59,7

100,0% 1,5%

€M

Q1 '13 Consolidated Income Statement

Q1 '13 Q1 '12 ∆% Net Sales 72,5 76,7 (5,5%) Gross Margin 25,5 27,1 (5,8%) % 35,2% 35,3%

• 0,1 pp

EBITDA 4,2 5,2 (18,9%)

4

% 5,8% 6,7%

• 1,0 pp

EBIT 1,7 2,6 (34,4%) % 2,3% 3,4%

• 1,0 pp

Group Net Result 1,4 0,9 51,8% % 1,9% 1,2% +0,7 pp EPS – Euro cents 0,9 0,6 51,8%

Q1 ’13: EBITDA by business Q1 '13 Q1 '12 ∆% ICC&R

5,9 6,7 (11,4%)

% sales

9,9% 11,2%

• 1,4 pp

Radiators

(0,6) (0,9) (33,2%)

% sales

(4,7%) (5,0%) 0,3 pp

5

% sales

(4,7%) (5,0%) 0,3 pp

Corporate & elimination

(1,2) (0,7) 75,8%

% sales

n.a.% n.a.%

• Consolidated

4,2 5,2 (18,9%)

%

5,8% 6,7%

• 1,0 pp

€M

Q1 '13 Net Working Capital trend

3M '13 3M '12 ∆ ‘13/’12 Trade Receivables 94,1 86,2 7,9 % on 12 months rolling sales

25,4% 22,2% +3,2 pp

Inventory 50,4 53,3 (2,9) % on 12 months rolling sales

13,6% 13,7%

• 0,1 pp

Trade Payables (85,8) (89,6) 3,8

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% on 12 months rolling sales

23,1% 23,1%

• Net Operating Working Capital

58,7 49,8 8,9 % on 12 months rolling sales

15,8% 12,8% +3,0 pp

Other short term assets / liabilities (18,9) (15,2) (3,7) % on 12 months rolling sales

(5,1%) (3,9%)

• 1,2 pp

Net Working Capital 39,8 34,6 5,2 % on 12 months rolling sales

10,7% 8,9% +1,8 pp

€M

Mar ‘13 Consolidated Balance Sheet

3M '13 3M '12 \ \ 3M '13 3M '12 Net operating fixed assets 260,5 296,1 Net Debt 42,0 55,1 Trade receivables 94,1 86,2 Group Equity 257,1 274,0 Inventories 50,4 53,3 Minorities 1,8 2,0

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Trade payables (85,8) (89,6) Shareholders’ Equity 258,9 276,1 Short term assets & liabilities (18,9) (15,2) Net Working Capital 39,8 34,6 Net financial assets 0,7 0,5 Net Capital Employed 300,9 331,2 Total Sources 300,9 331,2

Consolidated Cash Flow as of 3M

€M

3M '13 3M '12 Net Debt beginning of period 24,5 46,1 EBITDA (A) 4,2 5,2 Taxes paid in the period (B) 0,2 (0,4) Change in provisions (C ) 0,1 (0,3) Change in working capital (D) (19,4) (10,4) Investment activities (E) (1,6) (1,4) Operating Cash Flow (A+B+C+D+E =F) (16,4) (7,3)

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Operating Cash Flow (A+B+C+D+E =F) (16,4) (7,3) Equity investment (G)

• 0,0

Changes in net equity and financial activities (H) (1,1) (1,7) Cash Flow for the period (F+G+H) (17,5) (9,0) Net Debt end of period 42,0 55,1 Excluding Adeo overdue amount, Operating Cash Flow in Q1 ‘13 would be the same as Q1 ’12.

€M

Cash, bank deposits and marketable securities (45,5) Long-term financial liabilities Short-term financial liabilities Total Financial 18,2 69,4 87,5

Net Debt Breakdown as of Mar ’13 Net Debt : 42,0

Total Financial Liabilities 87,5

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Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Data Center End user name: CLARO Plant type: HPAC System Total installed Cooling capacity: 600 kW Installed equipments: nr 4 x i-AXU 130 nr 4x i-BRE 190 Project : It’s a full inverter solution dedicated to COMCEL (CLARO) job in

• Cartagena. This submarine communications cable is laid on the sea bed

between land-based stations (datacenters with Climaveneta HPAC units) to

CABLE SUBMARINO CARTAGENA - COLOMBIA

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between land-based stations (datacenters with Climaveneta HPAC units) to carry telecommunications signals across stretches of ocean.

HPAC ACCURATE i-AX Close Control Units, air cooled, direct expansion, with inverter compressors HPAC i-BRE Remote condensers with axial-type fans

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Shopping Centre - Supermarket End user name: DISCO Plant type: Hydronic System Total installed Cooling capacity: 760 Kw Total installed Heating capacity: 770 kW Installed equipments: nr 4 x RECS/SL 1962 nr 10 x WIZARD Air Handling Units Project: Disco is a supermarket chain in South America, founded in 1961 and with 120 stores located all around the country. The project of the air conditioning system for this store located inside NUEVO CENTRO Shopping Mall was characterized by the need to ensure ideal comfort level with high energy

DISCO NUEVOCENTRO MONTEVIDEO - URUGUAY

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characterized by the need to ensure ideal comfort level with high energy efficiency..

WIZARD All in one air handling unit RECS Air cooled reversible unit

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Office Building – IT Services End user name: IBM Bangalore Plant type: Hydronic System Total installed Cooling capacity: 2.750kW Installed equipments: nr 4 x FOCS2/K/S 2722, Project: IBM has been expanding its footprint in India and has a presence in over 200 cities and towns across the country - either directly or through its strong business partner network. IBM India

IBM Bangalore BANGALORE - INDIA

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directly or through its strong business partner network. IBM India has clearly established itself as one of the leaders in the Indian Information Technology (IT) Industry.

FOCS2/K Air cooled chiller with screw compressors

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Hotel & Resort End user name: Holiday Inn Plant type: Hydronic System Total installed Cooling capacity: 500 kW Installed equipments: nr 1 x FOCS2-W/CA D 3602 nr 80 x a-LIFE Project: The transformation project into bigger, more comfortable and modern facility concerns the new wing of Holiday Inn Krakow City Center with 85 additional rooms and suites, large health club and top class

HOLIDAY INN Hotel KRAKOW - POLAND

FOCS2-W water cooled high efficiency chillers with screw compressors 13

Center with 85 additional rooms and suites, large health club and top class conference facilities is planned to open in October 2013.

A-LIFE Fan coils for professonal applications

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Industrial Process End user name: 3M Plant type: Hydronic System Total installed Cooling capacity: 2.050 kW Installed equipments: nr 3 x FX-FC/T+/S 4802 nr 1 x FOCS2/CA 4822 Project: 3M is a diversified technology company serving customers and communities with innovative products and services. This project concerns Industrial Adhesive and Tapes Division (IATD) plant in Wrocław

3M Plant WROCLAW - POLAND

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Wrocław

FX-FC Air cooled chiller with Free Cooling function FOCS2/CA Air cooled chiller Class A of efficiency

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Shopping Centre & Retail End user name: Ikea Plant type: Hydronic System Total installed Cooling capacity: 1.100 kW Total air flow: 168900 M³/h Installed equipments: nr 6 x WHISPER-E/B (2x 0454, 1x 0352, 2x 0604, 1x 0404) Project: The store is located inside Franowo Shopping Park, 7 km south-east of the city centre of Poznan. Care for environment and sustainability are among IKEA core values. The IKEA Poznan store envisions this uncompromised approach to efficiency and sustainability

IKEA Store FRANOWO Shopping Park POZNAN - POLAND

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envisions this uncompromised approach to efficiency and sustainability blending cutting edge technologies and low energy consumption.

WHISPER-E Autonomous rooftop unit, air/air reversible with enthalpic rotary heat recovery.

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Industrial Process - Military End user name: AIRBUS MILITARY Plant type: Hydronic System Total installed Cooling capacity: 3.531 kW Installed equipments: nr 3 x TECS2/SL-CA-E 1054 Project: Tablada is the first former CASA plant in Seville. More than 700 Airbus Military employees work in this factory. The Tablada plant covers 98.500 square metres including more than 90.000 square meters of buildings. The air conditioning system is being updated in a central chilled water production of the highest efficiency. A second

AIRBUS MILITARY TABLADA Site SEVILLA - SPAIN

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central chilled water production of the highest efficiency. A second phase is designed to double the cooling capacity of the 1st stage.

TECS2 High efficiency air cooled chilelr with magnetic levitation compressor

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Office Buildings End user name: INDITEX Plant type: Hydronic System Total installed Cooling capacity: 1.560 kW Total installed Heating capacity: 476 kW Installed equipments: nr 2 x FOCS2/SL-CA-E 2202 nr 1 x ERACS2-Q/XL-CA 2422 Project: The retail multinational giant Inditex, which owns Zara, Zara Home, Massimo Dutti, Pull&Bear, Bershka, Oysho, among other brands, will base Massimo Dutti’s world headquarters in the Catalan coastal town of Tordera, located 60km north of Barcelona.

INDITEX Massimo Dutti Headquarter TORDERA - SPAIN

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town of Tordera, located 60km north of Barcelona.

FOCS2/CA Air cooled chiller Class A of efficiency ERACS2-Q Air cooled multipurpose unit for 4-pipe systems

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Office Buildings End user name: INDITEX Plant type: Hydronic System Total installed Cooling capacity: 453 kW Total installed Heating capacity: 496 kW Installed equipments: nr 1 x NECS-N/CA 1716 Project: The multinational Inditex moved its operational headquarters Uterque from Meco (Madrid) to Catalonia, in Tordera, where the company is undertaking a five-year investment of more than 190 million euros. Inditex seeks to expand the capacity of logistics center by 140.000 square

INDITEX Uterque Headquarter TORDERA - SPAIN

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Inditex seeks to expand the capacity of logistics center by 140.000 square

• meters. Today there already centralizes the management and distribution
• f Bershka, Massimo Dutti and Oysho.

NECS-N Air cooled reversible unit Class A of efficiency

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Broacasting – Office Buildings End user name: Zhejing Huzhou Broadcasting & TV Bureau Plant type: Hydronic System Total installed Cooling capacity: 1.900 kW Total installed Heating capacity: 2.100 kW Installed equipments: nr 6 x reversible air cooled units with scroll compressors Project: Provide Broadcast & TV Bureau of Huzhou City, Zhejiang province with a new generation of P2P web VOD system in building the Internet TV broadcast station.

BROADCAST & TV MEDIA CULTURAL CENTRE HUZHOU - CHINA

19 NECS-N Air cooled reversible unit Class A of efficiency

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Sport Structures End user name: Zhejing Shaoxing Sports Bureau Plant type: Hydronic System Total installed Cooling capacity: 20 MW Total installed Heating capacity: 14,9 MW Installed equipments: nr 6 x water cooled chillers function with heat pump reversible on hydraulic side nr 1 x water cooled chiller Project: Shaoxing City Olympic stadium project on the north side of the

• cean concerns the construction of a Sports Pavilion on a total area
• f

72.000 square meters.

OLYMPIC SPORTS CENTER SHAOXING - CHINA

20 FOCS2-W water cooled high efficiency chillers with screw compressors

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Healthcare End user name: Anhui Ningguo Hospital Plant type: Hydronic System Total installed Cooling capacity: 4.672 kW Total installed Heating capacity: 5.129 kW Installed equipments: nr 2 x air cooled reversible units nr 2 x air cooled reversible units with total heat recovery nr 2 x multiuse units for 4-pipe systems Project: High efficiency for low energy consumption. The multiuse units produce hot or cold water according to the selected operation mode..

PEOPLE HOSPITAL NINGGUO - CHINA

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FOCS-N Air cooled reversible units with screw compressors FOCS-NR Reversible air cooled unit with total heat recovery ERACS2-Q High efficiency multiuse unit for 4- pipe systems

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Exhibitions End user name: Tianjin Samaranch Memorial Hall Committee Plant type: Hydronic System Total installed Cooling capacity: 1.580 kW Total installed Heating capacity: 1.400 kW Installed equipments: 2x ERACS-WQ 2602 Project: The Memorial and the Olympic Sculpture Park covers an area of about 144.000 square metres, with a construction area of about 19.000 square metres. The main building consists of the overlapping of three circular figures, one in the shape of the number “8″ to commemorate the 2008 Olympic Games in Beijing; the second in the shape of the letter “S”,

SAMARANCH MEMORIAL HALL THIANJIN - CHINA

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2008 Olympic Games in Beijing; the second in the shape of the letter “S”, representing the first letter of the name “Samaranch”; and the third one symbolising the infinite and the eternal. The design of the rings features a circular ramp connecting the two buildings and the three levels for a total

• f five circles.

ERACS2-WQ Water cooled high efficiency multiuse unit for 4-pipe systems

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Exhibitions End user name: China Range Technology Development Co, Ltd Plant type: HPAC System Total installed Cooling capacity: 12.700 kW Installed equipments: nr 5 x air cooled chiller with free cooling nr 4 x AC 221 Close Control Units nr 18 x AC 25 Close Control Units Project: Range International Information Group is building a next generation cloud computing data center, which will play a pivotal role in integrating cloud computing center with the platform of Internet of Things. The Project occupies 1.341,867 square meters of land, with 2.622,470 square meters construction area, in which 620.000 square meters are

RANGE INTERNATIONAL INFORMATION GROUP DATACENTER LANGFANG - CHINA

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square meters construction area, in which 620.000 square meters are data centers. The Project will become the leader of China’s global cloud computing services, the center for R&D and supporting services of Internet

• f Things in China, data center for multinational enterprises

FOCS-FC Air cooled chiller with Free Cooling function HPAC ACCURATE AC Close Control Units, air cooled, direct expansion

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Exhibitions End user name: China Range Technology Development Co, Ltd Plant type: HPAC System Total installed Cooling capacity: 4.370 kW Installed equipments: nr 15 x AC 90 Close Control Units nr 10 x AC 221 Close Control Units nr 4 x AX 90 Close Control Units Project: Beijing Sinnet Technology Company Limited provides customers with broadband access services, IDC and its value-added services, and

• ther internet integrated services. The Company's core business are

broadband access services, IDC and its value-added services.

SINNET INTERNET DATA CENTER BEIJING - CHINA

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HPAC ACCURATE AC, AX Close Control Units, air cooled, direct expansion

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Office Buildings End user name: ENI Congo S.A. Plant type: HPAC System Total installed Cooling capacity: 284 kW Installed equipments: nr 4 x AXU 50, 3 x ACO 14, 6 x ACO 07 nr 4 x 253 Fan Coil Units Air Handling Units Project: Eni Congo Sa is a private company categorized under Oil and Gas Exploration and Development and located in Pointe Noire, Republic

• f the Congo. The project concernc the revamping of the existing building.

ENI Congo POINTE NOIRE – CONGO

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HPAC ACCURATE AC, AX Close Control Units, air cooled, direct expansion

A-LIFE Fan coils for professonal applications

Relevant Projects Q1 ‘13 - CLIMAVENETA

Application: Office Buildings End user name: ENI Congo S.A. Plant type: HPAC System Total installed Cooling capacity: 1.300 kW Installed equipments: nr 3 x FOCS/LN 2432 nr 4 x AXO 29, 1 x ACO 30 nr 120 x Fan Coil Units nr 3 x Air Handling Units Project: The hotel is located into Heliconia Park, in downtown Port Harcourt, covers 101 hectares and has access to the adjacent Interoil jetty and helipad. The Estate will include development in 7 areas based on a master plan that includes state-of-the-art security system, international restaurant, supermarket, international school, International SOS medical

HELICONIA PARK HOTEL PORT HANCOURT - NIGERIA

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restaurant, supermarket, international school, International SOS medical facility, swimming pools, sports courts (tennis, squash, basketball), football field, parks, fitness center, bush bar, golf driving range, office park, hotel, conference facilities and shopping center.

FOCS Air cooled chiller with screw compressors HPAC ACCURATE AC, AX Close Control Units, air cooled, direct expansion WIZARD Air Handling Units

A-LIFE Fan coils for professonal applications

Application: Data Center End user name: Radore, (Turkey) Plant type: Free-cooling air cooled liquid chiller Functions ensured by DeLclima equipments: Cooling Total installed Cooling capacity: 1,4 MW Installed equipments: nr. 2 x free-cooling air cooled liquid chillers Project: Radore Hosting is a "green" internet service provider. General services dedicated server, co-location, shared web hosting, domain name registration, SSL providing, private-xDSL internet

Relevant Projects Q1 ‘13 – RC

domain name registration, SSL providing, private-xDSL internet connection. Focus: mission critical, reliability, high energy saving Solution: GLIDER FREE

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SCREW COMPRESSOR

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GLIDER FREE Free cooling liquid chillers

Relevant Projects Q1 ‘13 – RC

Project: Data Center in Gonesse for Computacenter. Computacenter is Europe’s leading indipendent provider of IT infrastructure services supplying on-site services in nearly 60 countries. Application: Data Center End user name: Computacenter, Gonesse, (France) Plant type: Chilled Water System Functions ensured by DeLclima equipments: Cooling system for modern Data Center Total installed Cooling capacity: 750 kW Installed equipments: nr.10 x chilled water air conditioning system for high density rack, nr.5 x air conditioners for chilled water feeding, nr.1 x air cooled liquid chillers with free-cooling section

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COOLSIDE EVO CW Indoor unit

services supplying on-site services in nearly 60 countries. Focus: reliability, high energy saving, low noise emission Solution: COOLSIDE EVO CW, NEXT CW, GLIDER FREE.

NEXT CW Precision air conditioners GLIDER FREE Precision air conditioners

Relevant Projects Q4 ‘12 – RC

Application: Office building End user name: Prelios, Milano (Italy) Plant type: Multifunction air cooled liquid chiller, air cooled heat pump liquid chiller, precision air conditioning Total installed Cooling capacity: 2 MW Functions ensured by DeLclima equipments: Comfort solutions for office buildings and solution for modern data center. Installed equipments: nr.3 x multifunction chillers, nr.1 x heat pump air/water liquid chiller, nr.8 x close control air conditioners, nr.1 x sequencer for chillers, heat pumps and multifunctional units. Project: Prelios is one of the leading European real estate asset management and services firms. It operates in Italy, Germany and Poland and is listed on the Italian stock exchange since 2002.

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heat pumps and multifunctional units. Poland and is listed on the Italian stock exchange since 2002. Focus: large surfaces comfort cooling, reliability. Solution: MULTIPLO SCREW, EAGLE HP, NEXT DX, “SEQ”, SEQUENCER

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NEXT DX Close control air conditioners MULTIPLO SCREW Multifunction chillers for

• utdoor installation

EAGLE HP Packaged heat pump for

• utdoor installation

Relevant Projects Q4 ‘12 - RC

Application: Office building End user name: Contraloria central (Chile) Plant type: Air conditioning Total installed Cooling capacity: 150 kW Functions ensured by DeLclima equipments: Computer Room Air Conditioning Installed equipments: nr. 11 x CRAC units and nr.1 x air conditioners split system Project: The CGR is a constitutionally autonomous agency that controls the Administration to ensure the transparency of the information issued by government entities.

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information issued by government entities. Focus: efficiency, quietness, and versatility for a precise control of the thermo-hygrometric and air purity conditions. Solution: NEXT DX, ENERGY SPLIT

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NEXT DX close control air conditioners ENERGY SPLIT Split system air conditioners with free-cooling system

Relevant Projects Q1 ‘13 – RC

Project: Genk shopping center opened its doors in 1968 following the example of the great American malls. After a thorough renovation and expansion Shopping 1 will reclaim the role of trendsetter. Application: Shopping centre End user name: Shopping 1 – Genk (Belgium) Plant type: Heat pumps for chilled water production in summer time and hot water production in winter time. Functions ensured by DeLclima equipments: Cooling / Heating Total installed Cooling capacity: 1,3MW Installed equipments: nr.4 x heat pump liquid chillers

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expansion Shopping 1 will reclaim the role of trendsetter. Focus: large surfaces comfort cooling, reliability. Solution: MANTA HP chillers

MANTA HP Heat pump water/water liquid chillers for indoor installation ELECTRONIC EXPANSION VALVE

Relevant Projects Q1 ‘13 – RC

Project: Piri Reis Maritime University, founded by the members of Turkish Chamber of Shipping, has the support of the Turkish Maritime Sector educate and train officers. Application: University End user name: Piri Reis University – (Turkey) Plant type: Heat pumps for chilled water production in summer time and hot water production in winter time. Functions ensured by DeLclima equipments: Cooling / Heating Total installed Cooling capacity: 2,3 MW Installed equipments: nr. 4 heat pumps chillers with screw compressors

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educate and train officers. Focus: heavy duty construction, continuous and regular operation. Solution: MANTA HP

MANTA HP Heat pump water/water liquid chillers for indoor installation ELECTRONIC EXPANSION VALVE

Relevant Projects Q1 ‘13 – RC

Project: ENAV is the Company to which the Italian State delegates the management and control of civilian air traffic in Italy. Application: Airport End user name: ENAV – Roma, (Italy) Plant type: Air cooled liquid chiller with oil free centrifugal compressor with magnetic levitation bearings Functions ensured by DeLclima equipments: Cooling Total installed Cooling capacity: 550kW Installed equipments: nr.1 air cooled liquid chiller equipped with turbo compressors

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management and control of civilian air traffic in Italy. Focus: low noise emission, high energy efficiency, high reliability. Solution: UNICO TURBO FL

UNICO TURBO FL Air cooled liquid chiller with turbo compressors TURBO COMPRESSOR

Relevant Projects Q1 ‘13 – RC

Project: Sanremo’s Palafiori is a new congress and exhibition area, destined to conferences and fairs. Focus: energy saving and higher working continuity to meet air conditioning Application: Congress and exhibition hall End user name: Palafiori, Sanremo, (Italy) Plant type: Heat pumps for chilled water production in summer time and hot water production in winter time. Functions ensured by DeLclima equipments: Cooling / Heating Total installed Cooling capacity: 1,5 MW Installed equipments: nr. 2 heat pumps liquid chillers

34

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Focus: energy saving and higher working continuity to meet air conditioning requirements in residential and commercial applications. Solution: EAGLE HP

EAGLE HP Packaged heat pump air / water liquid chiller for

• utdoor

installation ELECTRONIC EXPANSION VALVE

Relevant Projects Q1 ‘13 – RC

Project: The new Eni Data Center will be an example of top reliability for all the informatics exigencies of the companies and will grant world-class top “green” energy efficiency results (PUE<1,2). Application: Green Data Center End user name: ENI Green Data Center, Ferrera Erbognone, (Italy) Plant type: Green Data-Center Functions ensured by DeLclima equipments: Modern solution for green data-center Total installed Cooling capacity: 400kW Installed equipments: nr.22 x close control air conditioners for chilled water feeding

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“green” energy efficiency results (PUE<1,2). Focus: reliability, efficiency, high cooling density, low noise emission. Solution: NEXT CW

NEXT CW Close control air conditioners for chilled water feeding PLUG FAN

Relevant Projects Q1 ‘13 – RC

Project: The University of Zagreb Music Academy is the oldest and largest college of music in the Republic of Croatia, providing a high level of musical education in the world. Application: University End user name: Music Academy – Zagreb, (Croatia) Plant type: air cooled liquid chiller with free-cooling system Functions ensured by DeLclima equipments: Conditioning Total installed Cooling capacity: 500 kW Installed equipments: nr.2 x air cooled liquid chiller with free-cooling system

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education in the world. Focus: extremely low noise emission (with dedicated kit), energy saving Solution: MAXIMO

MAXIMO Air cooled liquid chillers with free- cooling system PUMPING GROUP

Relevant Projects Q1 ‘13 – RC

Project: Taguspark is a science and technology park located in the municipality of Oeiras, Greater Lisbon subregion, Portugal. It includes several research and development labs, innovative startups and business Application: Office building End user name: Tagus Parque, Oeiras (Portugal) Plant type: Multifunction chiller for outdoor installation, for the indipendent or simultaneous production of chilled and hot water. Functions ensured by DeLclima equipments: indipendent or simultaneous cooling and heating Total installed Cooling capacity: 650kW Installed equipments: nr.1 x multifunction liquid chiller

37

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several research and development labs, innovative startups and business incubators. Focus: Comfort cooling and heating for office buildings with low noise emission (with dedicated kit) and reliability. Solution: MULTIPLO SCREW

MULTIPLO SCREW Multifunction chillers for

• utdoor installation

SCREW COMPRESSOR

Relevant Projects Q1 ‘13 – RC

Project: Radius is one of the biggest Data Centre General Contractor and Operator in Russia – this project is a reference in the country for modern data centres.

Application: Data centre End user name: Radius Group (Russia) Plant type: energy CLASS A chiller matched to chilled water and direct expansion CRAC units Functions ensured by DeLclima equipments: Solutions for high energy savings in green data center applications Total installed Cooling capacity: 21,5 MW Installed equipments: nr. 4 x A class water cooled chillers 1,1 MW each x 3 lots; nr.36 x chilled water CRAC units x 3 lots; nr.13 x direct expansion CRAC units, nr. 2 x air conditioning systems for high density, nr. 11 split system liquid chiller, nr. 1 free-cooling liquid chiller rack.

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data centres. Focus: High energy savings, high reliability, modern solution for green data center Solution: GLIDER CLA, NEXT CW, NEXT DX, MANTA A, MAXIMO PF, COOLSIDE EVO DX.

liquid chiller, nr. 1 free-cooling liquid chiller rack.

NEXT CW and DX CRAC units GLIDER CLA Free cooled chillers COOLSIDE EVO CRAC units

Relevant Projects Q1 ‘13 – RC

Project: TKT engineering realized a new business park located in Warszava, Poland. Application: Business Park End user name: TKT Engineering, Poleckzi Business Park, Warsaw (Poland) Plant type: Data Center Functions ensured by DeLclima equipments: Computer room air conditioning Total installed Cooling capacity: 270kW Installed equipments: nr. 10 x direct expansion close control air conditioners, nr. 18 x remote air cooled condenser.

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Warszava, Poland. Focus: Reliability, low noise emission, data center solutions. Solution: NEXT DX, TEAM MATE

NEXT DX close control air conditioners TEAM MATE Remote condenser

Italy Italy

Fairs and events Q1 ‘13 - CLIMAVENETA

24-27th January 2013 Bolzano - Italy 20-22 March 2013 Cortina - Italy 12th March 2013 New York- USA

USA Italy

March 2013 Catania - Italy

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Fairs and events Q1 ‘13 - RC

30-31th January 1st February 2013 Milano - Italy

ITALY

«Techical Meeting»

«Domestic and Export sales network Convention»

ITALY

8th February 2013 Padova - Italy Techical meeting: «How to save energy in data center»

INDIA

7-9th March 2013 Mumbai - India

SPAIN

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26th February 2013 1st March 2013 Madrid - Spain

New Products Q1 ‘13 - RC

Packaged air cooled liquid chillers in standard and in A class energy efficiency for outdoor installation equipped with scroll compressor and microchannel condensing coils. 45 ÷ 876 kW

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PYXIS Air cooled liquid chillers

New Products Q1 ‘13 - RC

Packaged air cooled liquid chillers in standard and in “A” class energy efficiency for outdoor installation 283 ÷ 1510 kW Packaged air cooled liquid chillers with free-cooling section in “A” class energy efficiency for outdoor installation

43

CQ113

GLIDER EVO Air cooled liquid chillers

in “A” class energy efficiency for outdoor installation 288 ÷ 1445 kW

New Products Q1 ‘13 - RC

Close control air conditioners with upflow or downflow air delivery, equipped with inverter driven scroll compressors. 7,3 ÷ 71,4 kW

NEXT EVO INVERTER

44

CQ113

NEXT EVO INVERTER Over version NEXT EVO INVERTER Under version

New Products Q1 ‘13 - RC

Close control air conditioners for chilled water feeding with upflow or downflow air delivery 6 ÷ 248 kW

45

CQ113

NEXT EVO CW PLUS Under version with separate fans section

Important information

Disclaimer This document has been prepared in accordance with Italian law and may not be distributed, either directly or indirectly, in any other jurisdiction, in particular Australia, Japan, Canada or the United States of America or other country in which issue of the securities described in this document and the communication of the same are not permitted without specific authorization from the relevant authorities. Distribution of this document in any jurisdiction outside of Italy may be subject to specific regulatory requirements and

• restrictions. Any person coming into possession of this document should inform themselves of and comply with any such regulatory requirements or restrictions. The securities

referred to in this presentation are to be issued in relation to the demerger described herein and have not been, nor is it intended that they will be, registered pursuant to the United States Securities Act of 1933. Consequently, they may not be offered or sold, either directly or indirectly, in the United States of America except by special exemption. No representation or warranty, express or implied, is or will be made in relation to, and no responsibility is or will be accepted by DELCLIMA S.p.A. and/or by any companies controlled directly or indirectly DELCLIMA S.p.A.., nor by any of their respective directors, managers, officials, clerical staff, agents or consultants, as to the accuracy or completeness of the information contained in this presentation. No part of this presentation constitutes, or shall be taken to constitute, an invitation or inducement to invest in DELCLIMA S.p.A. in any jurisdiction in which registration or qualification of such securities is required under applicable law. DELCLIMA S.p.A. in any jurisdiction in which registration or qualification of such securities is required under applicable law. Forward-Looking Statements This document contains certain forward-looking statements relating to DELCLIMA S.p.A.. These statements are not historical fact and are based on current estimates and projections made: (i) by the companies party to the demerger concerning future events and, (ii) by third companies not belonging to the De’Longhi group; by their nature, are subject to inherent risks and uncertainties. They relate to events and depend on circumstances that may or may not occur or exist in the future, and, as such, undue reliance should not be placed on them. Actual results may differ materially from those expressed in such statements as a result of a variety of factors, such as: volatility of commodity prices, changes in general economic conditions, economic growth and other changes in business conditions, changes in government regulation (in Italy or abroad), and many

• ther factors, most of which are outside of the control of the companies party to the demerger.