Bolzoni : 14 March 2016 - Approval of the draft of the financials 2015

Press release 2015 approval

PRESS RELEASE

TURNOVER 138.3 MILLION EUROS +15.4% EBITDA 14.4 MILLION EUROS, 10.4% ON TURNOVER PROFIT BEFORE TAX 7.0 MILLION EUROS CASH FLOW +8.9 MILLION EUROS

BOLZONI S.p.A. (BLZ.MI) informs that the Board of Directors of Bolzoni S.p.A, in today's meeting chaired by Emilio Bolzoni, approved the Group's consolidated financial statement and the draft financial statement of the Parent company at 31 December 2015. The Board of Directors also approved the Report on Corporate Governance and ownership structure, the Report on Remuneration and the Memorandum on the points in the order of the day for the Shareholders' meeting.

Consolidated Results at 31 December 2015:

Turnover stands at 138.3 million euros at 31 December 2015, a 15.4% increase compared to the 119.9 million euros recorded for the same period last year, and 36.0 million euros for Q4 2015, up by 14,1% compared to the same period last year. North America consolidates its growth, with a +44.3% in the year (+6.5% in the fourth quarter), compared to the benchmark market which has grown by 2.7%. The rest of the world has increased volumes by 21.5% for the quarter (+24.0% at the end of the period) compared to the 14.9% slackening of the market; Europe increases volumes by 14.8% in the fourth quarter and by 8.7% at the end of the period, compared to the market which has grown respectively by 9.4% and 4.1%.

Ebitda at 31 December 2015 amounts to 14.4 million euros (10.4% on the turnover) compared to 8.6 million in 2014 (7.2% on the turnover) and result before tax is in at 7.0 million euros compared to 2.1 million euros in 2014. In the fourth quarter EBITDA amounts to 3.7 million euros compared to 2.3 million euros in 2014 and the group profit before taxes closes at 2.4 million euros.

In his note, the Chairman Emilio Bolzoni has commented: "An excellent increase in turnover, better than in all areas of the market, the marginal levels, with the double digit EBITDA, returns to 2008-2009 pre-crisis level. Net debt is also very good with a positive cash flow of nearly 9 million euros. All the results are perfectly in line with our business plan".

Information regarding the Parent Company

Turnover for the parent Bolzoni S.p.A. alone in 2015 shows a turnover of 70.9 million euros compared to 63.4 million euros in 2014 and a net result of 3.2 million euros compared to 2.3 million in 2014.

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Information for Shareholders

In order to maintain an higher level of capitalization, also regarding the transaction of the acquisition by Hyster- Yale Materials Handling, Inc (or another company chosen by Hyster Yale, from within its group, as notified in the press releases issued on 15th of February and 4th of March, the Board of Directors makes a conservative proposal to allocate the 2015 net profit of Bolzoni S.p.A to the equity reserve.

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The annual ordinary Shareholders' meeting will be held on Friday April 29, 2016 at the company's legal offices situated in Podenzano (PC), località "I Casoni", at 10 a.m.

The topics in the Meeting's agenda will be:

• the approval of the company financial statements for the year ended 31 December 2015,

• the approval of the Remuneration Report by Shareholders;

  . the integration of the Board of Directors in course of office; and

• the appointment of the Board of Statutory, and its Chairman, the determination of the number of members; the related remuneration; related resolution and resulting matters.

As required by law, the documentation regarding the Agenda will be deposited within the established terms and made available to the public both at the Company's legal offices. The Shareholders are entitled to obtain a copy. The Rules for Shareholder Meetings and the Company Bylaws are available at the Company's legal offices in Podenzano (Piacenza), Località I Casoni and on the Company's web-site www.bolzonigroup.com , in the Governance area, and will also be available during the Annual Meeting.

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Treasury shares

At December 31, 2015, the number of treasury shares in portfolio were 18,274, equal to 0.07% of the share capital. At March 14, 2016, the situation remains unvaried.

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Mr Marco Bisagni, the manager responsible for the preparation of the corporate accounting documents, in accordance with paragraph 2 article 154-bis of TUF, declares that the accounting disclosures contained in this press release correspond to the results of the accounting books and entries.

Bolzoni, a company listed in the STAR segment of Borsa Italiana, is the European leader in the production of

lift-truck attachments and the second major manufacturer both worldwide and in the US market.

Through the design, production and distribution of a wide range of attachments, Bolzoni is an important presence in the market niche of lift-truck attachments and industrial material handling.

With a 2015 turnover of approx. 138 million euros, 19 companies (including the parent company) of which 8 are manufacturing plants situated in Italy, U.S.A., Finland, Germany and China, 10 are commercial subsidiaries and 1 is a financial holding company, Bolzoni represents a true multinational group with a global organisation present in all continents and one of the most dynamic realities at a worldwide level within the vast market segment of logistics and material handling.

Contact: Eleonora Palumbo

Investor Relations - Bolzoni S.p.A. Tel. [phone]

[e-mail]

Piacenza, March 14, 2016

CONSOLIDATED BALANCE SHEET at 31 December 2015

BALANCE SHEET €/000	Notes	31/12/2015	31/12/2014
ASSETS
Non-current assets	33,170	33,909
Property, plant and equipment			4
Goodwill	5	10,618	10,618
Intangible fixed assets	6	3,937	4,143
Investments in associated companies	7	380	2,240
Financial receivables and other financial assets	8	82	62
Deferred tax assets	9	3,615	3,454
Total non-current assets		51,802	54,426
Current assets	24,862	25,479
Inventory			10
Trade receivables	11	28,034	25,818
- of which related to associated companies	11,34	318	460
Tax receivables	12	648	1,090
Other receivables	13	380	815
Financial assets available for sale	14	-	12
Cash and cash equivalent	15	9,080	4,066
Total current assets		63,004	57,280
TOTAL ASSETS		114,806	111,706

CONSOLIDATED BALANCE SHEET at 31 December 2014

BALANCE SHEET €/000	Notes	31/12/2015	31/12/2014
GROUP EQUITY
Share capital	16	6,498	6,498
Reserves	16	28,666	28,887
Net result of the year	4,782	1,044
TOTAL GROUP EQUITY		40,946	36,429
NON-CONTROLLING INTERESTS
Capital, reserves and retained earnings		3,124	4,047
Net result of the year		142	(136)
TOTAL EQUITY		44,212	40,340
LIABILITIES
Non-current liabilities	22,146	15,881
Long term loans			17
Employee benefits -T.F.R. retirement allowance	18	2,646	2,812
Deferred tax liability	9	1,496	1,325
Long-term provisions	19	200	190
Liabilities for derivatives	20	362	523
Other long-term liabilities	471	358
Total non-current liabilities		27,321	21,089
Current liabilities	19,427	18,890
Trade payables			21
- of which towards related parties	34	-	31
Financial short-term liabilities and current portion of long term loans	17	15,706	24,726
Other current payables	22	6,605	6,093
Payable for income taxes	23	1,254	262
Current provision	19	281	306
Total current liabilities		43,273	50,277
TOTAL LIABILITIES		70,594	71,366
TOTAL EQUITY AND LIABILITIES		114,806	111,706