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2 0 0 3 S T A R C O M P A N Y R E S U L T S Milan, 2004 february 26th

2 0 0 3 S T A R C O M P A N Y R E S U L T S Milan, 2004 february 26th. Contents. COMPANY PROFILE Emak Group Structure Introduction. 2. STRATEGIC GUIDELINES 2003 International Scenario Market Targets Strategic Guidelines Investment Policy. 3. FINANCIAL DATA Turnover breakdown

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2 0 0 3 S T A R C O M P A N Y R E S U L T S Milan, 2004 february 26th

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  1. 2 0 0 3 S T A R C O M P A N Y R E S U L T S Milan, 2004 february 26th

  2. Contents • COMPANY PROFILE • Emak Group Structure • Introduction • 2. STRATEGIC GUIDELINES • 2003 International Scenario • Market Targets • Strategic Guidelines • Investment Policy • 3. FINANCIAL DATA • Turnover breakdown • Economic and Financial data • Projections

  3. Introduction Emak is a European leader in Design, Engineering, Manufacturing, Marketing of outdoor power equipments - 3 -

  4. DATA Euro 153 million of sales in 2003, more than 80% in Europe BRANDS Oleo-Mac and Efco for dealer network and Dynamac/private labels for retail chains POSITION Among top five in Europe CORE BUSINESS Focused on gardening, landscaping and forestry equipments STRUCTURE 2 plants in Italy and 1 in China, 5 commercial branches in Europe, 120 distributors in 70 countries, 17,000 dealers PRODUCT Wide range and well balanced product mix - 4 -

  5. Emak Group structure as of December 31, 2003 - 5 -

  6. Emak UK Emak Bx Emak D Emak F Emak I (Headquarter) Emak E Comag Emak Group - 6 -

  7. Emak China Emak Group - 7 -

  8. 2003 International scenario Europe and Usa: • 80% ÷ 85% of total world market • Demand mostly for replacement products, driven by GDP • growth • Hot and dry weather during summer 2003 in Europe causing • a high stock level of lawnmowers and brushcutters on the • shelves - 8 -

  9. 2003 International scenario Developing countries: • Increasing demand in East Europe and Far East South America: • Demand influenced by local political and economic situations • (Argentina, Venezuela) but now recovering Other Areas: • Competitiveness problems due to US $ weakness vs € in • USA, Far East, Russia, South America and Middle East - 9 -

  10. Market Challenge • Increasing importance of DIY channel generally • everywhere • More and more demanding end users • Tougher and tougher competition by consolidated • group • Competition for premium price products by new • manufacturers from China • More and more stringent emission regulations in • USA and Europe - 10 -

  11. Emak targets Growth of sales turnover higher than market increase Growth of operative profitability - 11 -

  12. Strategic Guidelines To reach these objectives EMAK has developed a focused strategy for the achievement of excellence on five points Product Innovation Competitiveness Quality Distribution Network Organization and Resources - 12 -

  13. Product Innovation • Better understanding of • customer needs • Engineering with style - 13 -

  14. …..a new generation of clean engines • Product Lifecycle Management Product Innovation Product Innovation - 14 -

  15. New plant in China for “price sensitive” products Competitiveness • Product cost reduction plans • Plant:20,000 mq • Start up: Q4 2004 • Extensive use of ICT to re-engineer corporate • organization and process - 15 -

  16. Fit for use concept Measurement of customer satisfaction Reliability Quality - 16 -

  17. Acquisition of STAUBbrand in France Consolidation of leadership positionin Italy Distribution Network Focus on markets directly controlled by Emak Increase of market shares of Emak subsidiaries in F, D, UK, E, BLX - 17 -

  18. Distribution Network • Marketing activities: • Higher Oleo-Mac and Efco brand awarenessthrough a selected dealer network • Improvement of after sale service through: • ICT product support • WEBCAT spare parts process management • Developmentof OEM business: • Specific products lines • Development of business opportunities through: • Sales increase in modern distribution channel also thanks to more competitive products (China plant) - 18 -

  19. Organization & Resources • Higher efficency in company processes/costs reduction • Better service (added value for customers) • Indicators for the monitoring of company’s process • performances • Focus on human resources value • Plan for working capital optimisation • Investments: focus on ROI - 19 -

  20. Investment Policy - 20 -

  21. Contents 3. FINANCIAL DATA - 21 -

  22. Million Euro Turnover breakdown Sales distribution by geographical area - 22 -

  23. Million Euro Turnover breakdown Sales distribution by product line - 23 -

  24. Million Euro Estimated Economic and financial data Consolidated P&L Accounts - 24 -

  25. Economic and financial data Consolidated assets and liabilities - 25 -

  26. Financial Performance - 26 -

  27. Fonte: Company Profile di Borsa Italiana Emak Share: index performance - 27 -

  28. Estimated Growth Projections - 28 -

  29. In collaboration with BORSA ITALIANA S.P.A. - Divisione STAR TECNOLOGIA PER IL VERDE

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