PRESS RELEASE

DeLclima S.p.A.: Approval of consolidated results at September 30, 2014 Treviso, November 2014: On September 30, 2014, DeLclima Board of Directors gathered at his legal head offices in Treviso, approved the following consolidated financial results:Revenues of Euro 296.8 million, up 5.2%;EBITDA of Euro 32.2 million, increasing 13.3%;Group Net Profit of Euro 12.0 million, significantly improving on 2013 figures (€ 10.4 million excluding impairment of the goodwill in the Radiators business; € -11.1 million including

the write-down);

Net financial position (net debt) of Euro 2.7 million, improving on Euro 13.9 million at

September 30, 2013;
The BoD has also approved a Dividend Policy.
In the first nine months of 2014 revenues totalled Euro 296.8 million, improving 5.2% compared to same period of 2013. Both the ICC&R and Radiators businesses contributed to growth. The increase on the first nine months of 2013 reported revenues was 28.9%: Euro 14.7 million of this improvement stems from the business performance. ICC&R business revenues grew across all regions, strongly in Asia and significantly in the Rest of the World. The gross profit rose, while the revenue margin remained stable.

EBITDA amounted to Euro 32.2 million compared to Euro 28.4 million in the same period of 2013, with the revenue margin increasing to 10.8% from 10.1%. The EBITDA growth relates both to the ICC&R business, improving 5.9%, and the Radiators business, which reported substantial breakeven.

The Radiators business result was achieved on the basis of a turnaround strategy which involved the restructuring of the client portfolio and the acquisition of a major OEM commercial
contract. In both sectors, the component and raw material procurement activities contributed
significantly.
The Group Net Profit was Euro 12.0 million, significantly increasing on the same period of 2013, whether including or excluding write-downs made in 2013 principally on Radiators business goodwill. We recall that in the first nine months of 2013 one-off tax benefits of approximately
Euro 0.9 million were reported.

DeLclima (DLC:IM) is specialized in Heating, Ventilation, Air Conditioning and Refrigeration (HVACR).

DeLclima designs, produces and markets innovative, energy efficient products and provides value added services for Indoor Climate Control in commercial buildings and for Refrigeration (ICC&R) of industrial processes and ICT applications through CLIMAVENETA and RC GROUP. DeLclima also operates in the

radiator business through DL Radiators.

DeLclima companies share the mission of increasing well-being and industrial productivity by providing high efficiency, reliable, economically viable and eco- sustainable solutions, in particular by embracing renewable energy sources.

Delclima manufactures in three continents and operates worldwide with subsidiaries, distributors and service companies, with particular focus in Europe, China and India. The company, headquartered in Italy, has been listed on the Milan Stock Exchange since 2012 and was previously the Professional Division of the De'Longhi group.

For more information please see www.del-clima.com

PRESS RELEASE

The net financial position (net debt) at September 30, 2014 improved approximately Euro 11.3 million compared to September 30, 2013, thanks to the liquidity generated by operations, and approximately Euro 4.3 million compared to December 31, 2013.
The net financial position (net debt) at September 30, 2014 also includes the effects from the acquisition of Powermaster Products and Powermaster Service.
In the same day the Board of Directions approved a Dividend Policy stating that DeLclima aims at granting a stable and significant dividend payment stream for its shareholders, while providing increased long term value for their investment .
In the absence of exceptional events, the Board of Directors will propose to the yearly
Shareholders' Meeting the distribution as a dividend of between 30.0% and 50.0% of Annual
Profits, which is compatible with ensuring growth potential also through external lines, maintaining an appropriate and safe debt ratio.
Read more athttp://www.del-clima.com/en/index.php

DeLclima (DLC:IM) is specialized in Heating, Ventilation, Air Conditioning and Refrigeration (HVACR).

DeLclima designs, produces and markets innovative, energy efficient products and provides value added services for Indoor Climate Control in commercial buildings and for Refrigeration (ICC&R) of industrial processes and ICT applications through CLIMAVENETA and RC GROUP. DeLclima also operates in the

radiator business through DL Radiators.

DeLclima companies share the mission of increasing well-being and industrial productivity by providing high efficiency, reliable, economically viable and eco- sustainable solutions, in particular by embracing renewable energy sources.

Delclima manufactures in three continents and operates worldwide with subsidiaries, distributors and service companies, with particular focus in Europe, China and India. The company, headquartered in Italy, has been listed on the Milan Stock Exchange since 2012 and was previously the Professional Division of the De'Longhi group.

For more information please see www.del-clima.com

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