•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

2016

2017

var

• The European distribution market grew by +4% in 2017 compared to 2016, whilst the fourth quarter was +3%compared to the same period of 2016.

• Italy stable year-over-year, whilst the fourth quarter decreased by -1% vs the same period of 2016

• Strong Spain +9% with the fourth quarter’s trend in line with the yearly one

• At the end of February the distribution market posted a +8% growth in Italy and +10% in Spain thanks to smartphones

• The competitive landscape should gradually show a lower pressure compared to the previous year, as demonstratedby the sales trend in the first weeks of the current year.

• The competitive landscape should gradually show a lower pressure compared to the previous year, as demonstratedby the sales trend in the first weeks of the current year.

• 2018 Group’s sales target to grow ‘low-single digit’ due to the positive effect of the Italian operations and the expectedreduction of sales in Spain, arising from the eroded revenue in the ‘retailers’ fulfillment sector

• EBIT between € 39-41 million, net of non-recurring items.

•

•

•

•

•

•

•

•

•

•

••••

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

•

Francesco MontiChairman

Maurizio RotaDeputy

Chairman and CEO

Alessandro Cattani

CEO

Valerio CasariDirector &

CFO

Matteo Stefanelli Director

Tommaso Stefanelli

Director

Marco Monti Director

Mario Massari Director

Chiara Mauri Director

Cristina Galbusera

Director

EmanuelaPrandelli

Director

Ariela Caglio Director