Shareholders meeting Bolzoni S.p.A. Podenzano, 29th April 2008 - PowerPoint PPT Presentation

Shareholders’ meeting Bolzoni S.p.A. Podenzano, 29th April 2008

Management Report Year 2007

Global Presence Tallin (Estonia) Products: Components Helsinki (Finland) Products: Paper clamps Chicago (I llinois) US Piacenza (I taly) Products : Sideshifter, Push-Pulls Products: Integral Sideshifters, Attachments, Lift Table, Hand Pallet Trucks Barcellona Products: Hook-on Sideshifters, frames Salzgitter (Germany) Products: Multipallets, Paper clamp Shanghai (China) Products: : Sideshifters Indipendent distributor Exclusive – 3 – Production sites Commercial subsidiary Distributors Associated company

Group structure Group structure ● Around 750 employees, of which 250 in Italy ● Products are marketed to more than 40 countries, thanks to our 20 companies (covering 34 countries), and our consolidated relations with a network of independent distributor. BOLZONI S.P.A. Headquarter I taly BOLZONI AURAMO BOLZONI AURAMO BOLZONI AURAMO AURAMO OY Z.O.O. AB GmbH Finland Polska Sweden Germany 100% 60% 100% 100% BOLZONI AURAMO BOLZONI AURAMO BOLZONI AURAMO Shanghai Sarl Ltd AURAMO BALTI C OU AURAMO ZA China France UK Estonia South Africa 60% 100% 100% 100% 40% BOLZONI AURAMO BOLZONI AURAMO BOLZONI AURAMO BV SL Ltd HANS H. MEYER Benelux Spain Canada GmbH 51% 100% 100% Germany 100% BOLZONI AURAMO BOLZONI AURAMO EUROLI FT Pty Pty Sa Australia Australia Chile 24,5% HANS H. MEYER MEYER SCANDI NAVI A 100% 100% MEYER Sarl Ltd AB France UK Sweden 100% BOLZONI AURAMO BOLZONI AURAMO 100% MEYER srl 60% I NC. srl I talia USA South I taly 30% 100% 100% – 4 –

We are leader in Lift Truck Attachments market Lift Truck Attachments in Europe Lift Truck Attachments worldwide (Mkt share % ) (Mkt share % ) 28,30% 9,30% 14,70% 40,00% 50,70% 25,30% 25,50% 6,20% Cascade Bolzoni - Meyer Kaup Other Bolzoni - Meyer Cascade Kaup Other Source: Bain & Co. (2006) – 5 –

Key performance indicators % Var. 31 Dec 31 Dec 2007 vs thousands of euro 2006 2007 2006 36,0% TU R N O V E R 107.103 145.638 34,7% E B ITDA 13.240 17.839 30,0% E B IT 9.668 12.571 23,2% R E S U LT B E F O R E TA X E S 8.149 10.042 40,3% R E S U LT A F TE R TA X E S 4.790 6.722 – 6 –

Net sales – Geographic breakdown Net sales – Geographic breakdown (31 Dec 2006 – 31 Dec 2007; €/ Mln) VAR: 36,0% + 58,3% 1 2 ,9 + 58,3% -19,6% -19,6% 1 2 ,4 8 ,2 1 5 ,4 + 44,1% 1 2 0 ,3 + 44,1% 8 3 ,5 3 1 d e c 2 0 0 6 3 1 d e c 2 0 0 7 E U R O P A N O R D A M E R IC A R E S TO D E L M O N D O – 7 –

Net sales trend Total net sales of the Group (2005 – 2006 - 2007; €/ Mln) Var. 2007 / 2005: Var. 2007 / 2005: + 53,8% + 53,8% CAGR: 24,0% 145,6 107,1 94,7 2005 2006 2007 – 8 –

Ebitda trend Ebitda (2005 – 2006 - 2007; €/ Mln) Var. 2007 / 2005: Var. 2007 / 2005: + 66,2% + 66,2% CAGR: 28,9% 17,8 13,2 10,7 2005 2006 2007 – 9 –

Ebitda margin trend Ebitda margin (2005 – 2006 - 2007; % Ebitda/ net sales) 12,2% 12,4% 11,3% 2005 2006 2007 ● Ebitda margin includes also 2 months of consolidation of Meyer Group in Year 2006 and 12 months in Year 2007, and the unfavourable rate exchange Euro/ US$ – 10 –

– 11 – Var. 2007 / 2005: 2007 / 2005: + 70,0% + 70,0% Var. 12,6 2007 (2005 – 2006 - 2007; €/ Mln) CAGR: 30,4% Ebit 9,7 2006 7,4 2005 Ebit trend

Net result before taxes trend Net result before taxes (2005 – 2006 - 2007; €/ Mln) Var. 2007 / 2005: Var. 2007 / 2005: + 32,6% + 32,6% CAGR: 15,2% 10,0 8,1 7,6 2005 2006 2007 – 12 –

Net result after taxes trend Net result after taxes (2005 – 2006 - 2007; €/ Mln) Var. 2007 / 2005: Var. 2007 / 2005: + 54,5% + 54,5% CAGR: 24,3% 6,7 4,8 4,4 2005 2006 2007 – 13 –

Lift truck market situation + 11,9% W est Europe + 53,4% East Europe 2007 -10,0% North Am erica 2006 + 24,5% China W orld + 13,0% - 100.000 200.000 300.000 400.000 500.000 600.000 700.000 Number of lift truck s old – 14 –

Capex 2007 Thousands of Euro Capex 2007 Tangible Intangible Total Euro Bolzoni S.p.A. 2.963 999 3.962 Auramo Finlandia 371 467 838 Bolzoni Auramo Svezia 46 - 46 Bolzoni Auramo Olanda - - - Bolzoni Auramo Germania 11 - 11 Bolzoni Auramo UK 103 - 103 Bolzoni Auramo Australia 26 - 26 Bolzoni Auramo Cile - - - Bolzoni Auramo Francia 23 2 25 Bolzoni Auramo Spagna 234 1 235 Bolzoni Auramo Italia 6 - 6 Bolzoni Auramo USA 63 - 63 Bolzoni Auramo Canada 49 - 49 Bolzoni Auramo Polonia 4 - 4 Bolzoni Auramo Shanghai Cina 8 - 8 Gruppo Meyer 827 151 978 TOTAL 4.734 1.620 6.354 – 15 –

Net Financial Position 31.12.2006 31.12.2007 Thousands of Euro Cash and cash equivalent 4.473 3.061 Current portion of long term debts (15.313) (14.367) Net financial position - short term (10.840) (11.306) Financial assets held to maturity 1.425 60 Non current portion of long term debts (8.917) (14.690) Net financial position - M/ L term (7.492) (14.630) Net financial position (18.332) (25.936) – 16 –

Allocation of year’s profit ● Euro 245,205 to legal reserve ● Euro 1,558,097 to extraordinary reserve ● Euro 3,100,789 to return on capital (0.12 €/share, +20% vs dividend in 2006) Pay-out corresponds to 63.2% of Bolzoni S.p.A.’s net profit and to 46.1% of the Group’s net consolidated profit – 17 –

Preliminary turnover Q1 2008 and future strategies

Net sales – Business Plan 2007-2009 Net sales (2007 – 2008E – 2009E; thousands of euro) 172.000 169.000 158.000 155.000 145.600 2 0 0 7 2 0 0 8 2 0 0 9 – 19 –

Preliminary Net sales Q1 2008 Preli inary Net sales Q1 2008 Net sales (Q1 2007 – Q1 2008E ; thousands of euro) VAR: 4,6% ● 2008 turnover is affected by the Easter shut-down in March which in 2007 fell in April. The seasonly adjusted figure therefore shows a growth of around 8% vs Q1 2007. 36.978 35.339 Q1 2007 Q1 2008 – 20 –

Strategies GROWTH DRIVERS GROWTH DRIVERS 1 2 Consolidation of leadership in Launch of new products / Europe and penetration in services on the market developing markets 3 4 I nnovation in internal processes aimed at optimizing resources External opportunities of growth and increasing profitability – 21 –

Strategies Strategies 1 Consolidation of leadership in Europe and penetration in developing markets ● Strengthening Meyer sales structure – opening a new sales branch in Russia – re-organisation of domestic sales force and also in following countries: Spain-UK-Italy-France ● Strengthening Bolzoni sales structure – Agreements with exclusive dealers in following countries: Rumania-Thailand-Singapore-Indonesia-Argentina-Uruguay ● Further penetration in Chinese market ● Constant focus on US market – 22 –

Strategies Strategies 2 Launch of new products / services on market Innovation Innovation ● New fork positioners ● New double-pallet handlers ● New Rotators ● New parallel clamps ● New 360° paper roll clamps ● Push Pull – 23 –

Strategies Strategies 3 I nnovation in processes to optimize resources and increase profitability ● Reorganize purchasing strategies according to LEAN MANUFACTURING - Target lead times to customers: Clamps: 15 days Fork positioners: 10 days Integral side shifters: 5 days Lift tables: 12 days Hook-on side shifters: 10 days - 5 mln euro reduction in Group inventory ● Transfer of parallel clamp production to USA ● Purchase of components on low cost markets ● Implementation of new ERP software: SAP – 24 –

Synergies with Meyer The synergies produced will be in the following areas: ● Research and Development ● Production ● Purchasing ● Sales Thousands of Euro 3000 2.000 – 2.800 (1) 200 - 300 2500 2000 Sales Synergies 1500 Cost synergies 1.800 - 2.500 900 – 1.100 (1) 1000 100 - 200 500 800 - 900 0 2007 2008 2009 Capex and one/ off costs 900 600 0 (1) Estimates by Bain and Company – 25 –

– 26 – External growth opportunities ● Plant for components in India ● Fork manufacturer in China 4 Strategies Strategies