PRESS RELEASE

Treviso, 29/12/2014
The Board of Directors today approved a programme for the disposal of the Radiators business - which in recent times underwent a turnaround plan - and therefore started the activities to identify the best owner. The Board of Directors estimates highly probable to complete the disposal plan over the coming year.
The completion of the turnaround of the Radiators business and its revival will be more effectively delivered by a focused owner. The Radiators business has no synergies nor structures in common with the ICC&R business.
DeLclima management, resources and investments will be exclusively dedicated to the core ICC&R
business and its growth.
As a result of the turnaround actions completed to date, for 2014, a slightly positive EBITDA and an EBIT loss of approx. Euro 3.5 million are forecasted. The best estimate of the Board considering the recoverable value of the disposal of the Radiators business, the related impairment on the value of the buildings and the updated provisions for risks related to the litigation with Adeo result in a loss of up to Euro 52.0 million, excluding the related positive tax effects.
This loss will be reported separately for 2014 in the specific line item "Discontinued operations result".
Due to its devaluation nature the loss will not impact cash flows.
The positive impacts on the Net Debt from the disposal have yet to be estimated.
The effects of the Radiators business disposal programme, along with the related impairment on the value of the buildings and the updated provisions for risks related to the litigation with Adeo, on the Net Result and the Group Net Debt at December 31, 2014 will be described in the necessary detail in the Annual Financial Report, which will be made available to the public in accordance with law requirements.
Contacts
DeLclima S.p.A.: Vincenzo Maragliano, Investor Relations, T: +39 0422 4131
e-mail: vincenzo.maragliano@delclima.it
on the web: http://www.del-clima.com

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

distributed by