Source: El.En. December 2018

El.En. SpAItaly

50%

100%

70%

100%

85%

60%

Quanta System SpA

Italy

Lasit SpAItaly

DEKA S.a.r.l.France

Penta Laser Europe SrlItaly

OT-LAS SrlItaly

ASA SrlItaly

50%

100%

Cutlite do Brasil LtdaBrazil

98,27%

55%

100%

Esthelogue SrlItaly

96,65%

50%

78,85%

100%

100%

IND-MED MEDICAL INDUSTRIAL OTHER

DEKA Co LtdJapan

55%

50%Penta-Laser Equipment

Wenzhou Co. LtdChina

53,535%

Merit DueItaly

100%

B O A R D M E M B E R S O W N E R S H I P

AUDITING COMPANY

DELOITTE & TOUCHE SPA

BOARD OF D IRECTORS

Chairman Gabr ie le C lement i

Andrea Cang io l iBarbara Bazzocch i

Board Members Fab ia Romagno l i ( Independent )

Miche le Legna io l i ( Independent )A lber to Pecc i (Not Execut ive)

INTERNAL CONTROL COMMITTEE

Fab ia Romagno l iM iche le Legna io l i

A lber to Pecc i

GROUP STRUCTURE

CORPORATE GOVERNANCE

SHAREHOLDERS

COMPANY PROFILE

SPECIALIST BROKER

CODE OF

CONDUCT ON INSIDER DEALING

El.En. S.p.A. is an Italian hi-tech industrial group operating in opto-electronics with proprietary technologies

and know-how developed over 35 years of experience. We are an international group counting more than 20

companies active worldwide in several market segments involving laser technologies applications.

Since its foundation El.En. constantly increased its turnover, leveraging and expanding its global presence.

We benefit of a worldwide distribution network, count over 1.300 employees and more than 35,000 installed

laser sources.

Ÿ industrial laser systems for applications ranging from cutting, marking and welding of metals, wood,

plastic and glass to the decoration of leather, paper, cardboard and fabrics;

Ÿ medical laser devices used in dermatology, surgery, aesthetics, physiotherapy, dentistry and

gynecology;

We design, manufacture and sell on a global basis:

Ÿ laser systems for the conservation of the cultural heritage.

El .En. SpA v i a B a l d a n z e s e , 1 75 0 0 4 1 C a l e n z a n oF i r e n z e - I t a l yt e l . : ( + 3 9 ) 0 5 5 . 8 8 . 2 6 . 8 0 7f a x . : ( + 3 9 ) 0 5 5 . 8 8 . 3 2 . 8 8 4

The directors and others relevant persons must report all transactions completed with a value equal to Euro 20.000 or more within any given calendar year.

INVESTOR RELATIONS MANAGER

ENRICO ROMAGNOLI

TEL: (+39) 055-8826807

FAX:(+39) 055-8832884

finance@elen.it

INVESTOR RELATIONS

Rome - Tel: (+39) 06 69923324

E-mail: polytemshir@polytemshir.it

STATUTORY AUDITORS

Permanent AuditorsPaolo Casel l i

R i ta Pelagot t i

33% 50%

17%

Independent 33%

Executive 50%

Not Executive 17%

Source: EL.EN. December 2018

2.078.456 shares

Alberto Pecci

Andrea Cangioli

2.927.688 shares

Michele Legnaioli

1.885.122 shares

Gabriele Clementi

988.496 shares

Barbara Bazzocchi

640 shares

INTERMONTE S IM S.p.A.

Managing Directors

5,12%

9,77%

15,17%

7,51%

Andrea Cangioli 15,17%

Gabriele Clementi 9,77%

Barbara Bazzocchi 5,12%

Alberto Pecci 10,77%

Immobiliare del Ciliegio Srl 7,51%

Kempen Oranje partecipaties nv 5,80%

Market 45,86%

45,86%

5,80%

PresidentVincenzo Pi l la

GENERAL MANAGERPaolo Salvadeo

10,77%

Cutlite Penta SrlItaly

Asclepion LaserTechnologies GmbH

Germany

Pharmonia srlItaly

DEKA M.E.L.A. SrlItaly

Penta-Chutian Laser (Wuhan) Co. Ltd

China

100%

WITH US Co LtdJapan

BRCTUSA

DEKA Medical Inc.USA

CONSOLIDATED INCOME STATEMENT

31/12/2018 Inc.% 31/12/2017 Inc.% Var.%

Revenues 346.020 100,0% 306.461 100,0% 12,9%

Change in inventory of finished goods and WIP 11.878 3,4% 5.452 1,8% 117,9%

Other revenues and income 5.613 1,6% 4.264 1,4% 31,6%

Value of production 363.511 105,1% 316.178 103,2% 15,0%

Purchase of raw materials 207.387 59,9% 166.694 54,4% 24,4%

Change in inventory of raw material (8.170) -2,4% (419) -0,1% 1850,2%

Other direct services 26.816 7,7% 22.618 7,4% 18,6%

Gross margin 137.478 39,7% 127.284 41,5% 8,0%

Other operating services and charges 42.870 12,4% 37.068 12,1% 15,7%

Added value 94.608 27,3% 90.216 29,4% 4,9%

For staff costs 58.989 17,0% 54.091 17,7% 9,1%

EBITDA 35.618 10,3% 36.125 11,8% -1,4%

Depreciation, amortization and other accruals 5.631 1,6% 5.676 1,9% -0,8%

EBIT 29.987 8,7% 30.449 9,9% -1,5%

Net financial income (charges) 869 0,3% (3.365) -1,1%

Share of profit of associated companies (1.306) -0,4% (430) -0,1% 203,5%

Other net income (expense) (6) 0,0% 564 0,2%

Income (loss) before taxes 29.545 8,5% 27.217 8,9% 8,6%

Income taxes 7.707 2,2% 6.807 2,2% 13,2%

Net income (loss) for the financial period 21.839 6,3% 20.410 6,7% 7,0%

Minority interest 5.045 1,5% 4.776 1,6% 5,6%

Net income (loss) 16.794 4,9% 15.634 5,1% 7,4%

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000

36.12535.618

31/12/201831/12/2017

Source: El.En. S.p.A.

EBITDA

0

10.000

20.000

30.000

40.000

50.000

60.000

70.000

80.000

90.000

84.506

31/12/2017

Source: El.En. S.p.A.

NET FINANCIAL POSITION

62.461

31/12/2018

Industrial sector 148.167 M€

Medical sector 197.854 M€

Rest of the world 211.788 M€

Italy 65.768 M€

Europe 68.464 M€

REVENUES BREAKDOWN AT DECEMBER 31th 2018

57,2%

42,8%

19,8%

61,2%

19,0%

NET FINANCIAL POSITION

31/12/2018 31/12/2017

Cash and cash equivalents 82.917 99.388

Short term financial receivables 74 155

Financial short term liabilities (8.038) (9.161)

Net current financial position 74.954 90.381

Financial long term liabilities (12.493) (5.875)

Net financial position 62.461 84.506

STATISTICS AND INDICES

N. shares traded (split adjusted)

Lutronic

Cutera

Source: El.En. S.p.A.

COMPARABLES

Han’s Laser

IPG

Prima Industr ie

€ 18.687.893€ 934.395

71.711 52.246

€ 431.030.254€ 1.710.438

17.999.550 1.044.924

YoY (Mar 16, 2018 - Mar 15, 2019)

Sisram Medical

Last price (15/03/2019)

Range(-1 Y):

Stock performance

FTSE IT STAR Index performance

18,92

-1 Y-6 M-1 M

-1 Y-6 M-1 M

max 34,54 (03/05/18) min 12,29 (21/12/18)

- 34,31%- 16,79%+ 16,79%

- 6,65%- 7,74%+ 3,15%

STOCK PERFORMANCE

Source: Borsa ItaliaFTSE IT STAR

0K

250K

0%

May 2018

20%

500K

Sep 2018

El.En.

10%

-10%

-20%

-30%

-40%

Jan 2019

-50%

-60%

Company: EL.EN.SPA

Borsa MTAX

ISIN - IT0005188336

Ticker - ELN

Share capitalNO. SHARESof which: -Ordinary shares

-Preferred sharesNominal value Capitalization (15/03/2019)Minimum amount tradedDate of quotationIPO

2.508.671

19.297.472 00000000,13

111/12/200029,9 mil euro

SectorElectronic & Electrical Equipment

Sub-SectorElectronic Equipment

Latest dividend€ 0,40

Ex-dividend date30/05/2018

346 mil euro

KEY F IGURESSTOCK INFORMATION

C O P Y R I G H T 2 0 1 9 - A L L R I G H T S R E S E R V E D P O LY T E M S H I R©

Note:

Data and information from draft financial statement as of December 31, 2018 were unaudited

The information shown are organized in conformity with the international accounting principles, IAS/IFRS. All amounts are expressed in thousands of Euro, unless otherwise stated.

Market

Segment

Code

Reuters

Bloomberg

STAR

ELN.MI

ELN.IM

CTVTotalDaily average

TotalDaily average

MoM (Feb 16, 2019 - Mar 15, 2019)