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Group 2018-2020 three-year business plan approved

The Board of Directors of Biesse S.p.A. - a company listed on the STAR Segment of the Italian Stock Exchange and the FTSE IT MID CAP index- today approved the updated version of the Group business plan covering the three years 2018-2020.

As a result of the initiatives contained in the aforementioned business plan and given the forecasts for the international macro-economic scenario, the estimated results for the Biesse for the period are as follows:

  • three-year organic CAGR in net consolidated revenues of 9.5% (estimated revenues of Euro 906 million in 2020)
  • three-year CAGR of 10.8% in value added (expected to reach a record 43.4% of revenues in 2020)
  • increase in operating margins:
    • three-year CAGR of 12.7% in EBITDA (14% margin expected in 2020)
    • three-year CAGR of 14.7% in EBIT (10.6% margin expected in 2020)
  • positive free cash flow totalling Euro 120 million in the three years 2018-2020 (estimated 5% free cash flow margin in 2020) net of planned investments (total capex of Euro 142.6 million)

2017 consolidated revenues are estimated to have risen 11.6% year-on-year to Euro 690 million and EBITDA is expected to
be 12.9% of consolidated revenues. The Board of Directors – chaired by Roberto and Giancarlo Selci – approved measures to support the growth strategy for the three-year period 2018-2020, which will maintain a strong focus on investments in innovation, services and
marketing/commercial activities.

“The business plan is based on the excellent results of the 2017 financial year”, commented the Director General, Mr
Stefano Porcellini, “that demonstrated growth in consolidated revenues +11.6% vs 2016, an increase in operating profitability
and strong cash flow generation EBITDA margin 12.9%, which gave the Group a positive net financial position of more than
Euro 30 million. Today we have approved a plan that is a continuation of the preceding plan and is based exclusively on
organic growth.”

Today the HSD shareholders' meeting approved the listing of its shares on the Mercato Telematico Azionario of Borsa Italiana, possibly on the STAR segment. The project was already announced to the market on 9 February. It is expected that the proposed listing will be realized through the placement to institutional investors only of existing and newly issued shares. The entity and timing of the placement, as well as the timing of the listing, will be defined in detail later in the process. It is expected that Biesse will remain the controlling shareholder of HSD after the IPO. This project is confirming our intention of finding the optimum growth strategy for HSD, also through external growth. HSD, currently 100% controlled by Biesse, is a leader in the design, manufacture and sale of electrospindles, technologically advanced mechatronic components, and smart devices for working wood, metal, alloys and composite materials used in the automotive, aerospace, consumer electronics, robotics and furniture & building sectors.


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