Interpump Group SpA, Italy

COMPANY WATCH

Idex Corp, USA Key Figures (US$ million) Three months ended 30.6 2016 Net Sales Of Which: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/Diversified Products Operating Income Of Which: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/Diversified Products Net Income

Interpump Group SpA, Italy 2015

549.7

514.9

221.8 186.6 141.6

215.3 188.4 111.9

113.0

109.9

53.9 41.1 34.1

51.9 42.1 31.5

75.8

69.6

Six months ended 30.6 2016

Key Figures (€ million) First quarter ended 31.3 2016

2015

Net Sales Of Which: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/Diversified Products

1052.3

1017.1

433.7 372.9 246.2

433.5 367.5 218.6

Operating Income Of Which: Fluid & Metering Technologies Health & Science Technologies Fire & Safety/Diversified Products

215.5

211.7

105.3 81.8 59.5

107.8 79.5 58.6

Net Income

143.9

135.5

2015

Net Sales Of Which: Hydraulic Sector Water Jetting Sector

226.7

222.6

145.6 81.1

145.6 77.0

Cost of Sales

144.8

144.3

81.9

78.3

3.3

3.2

Distribution Expenses

20.4

20.8

General and Admin Expenses

26.9

26.5

0.6

0.6

Gross Industrial Margin Other Operating Income

Other Operating Costs EBITDA Of Which: Hydraulic Sector Water Jetting Sector

47.6

43.5

27.7 20.0

25.0 18.5

EBIT

37.3

33.6

Profit for the Period before Taxes

34.7

42.4

Consolidated Profit for the Period

21.9

29.2

COMMENT For the three month period ended 30 June 2016, Idex Corp’s orders, sales and net income increased 5%, 7% and 9%, respectively. Fluid & Metering Technologies’ second quarter 2016 sales were up 3% on a year ago to US$222 million (+1% organic and +2% acquisitions). Operating income of US$54 million was US$2 million higher. Health & Science Technologies saw sales slip 1% in the second quarter of 2016 to US$187 million (-2% organic, +2% acquisitions and -1% foreign currency translation). Operating income of US$41 million was US$1 million lower than 2015. The Fire & Safety/Diversified

8

Pump Industry Analyst

Products sales were 27% higher at US$142 million (-1% organic and +28% acquisition). Operating income of US$34 million was US$3 million up on the prior year period. “Our Water, Scientific Fluidics and Dispensing platforms continue to outperform, while the North American industrial market remains challenged compared with a year ago. Recently, we have seen signs that our North American industrial markets are stabilising, and within our Energy platform large projects that had been delayed for several quarters shipped late in the second quarter,” said Andrew Silvernail, Idex chairman and CEO. Q www.idexcorp.com

COMMENT Interpump Group’s net sales for the first quarter of 2016 reached €226.7 million, an increase of 1.8% over the €222.6 million posted a year earlier. EBITDA of €47.6 million (21.0% of sales) was up 9.6% on the first quarter of 2015’s €43.5 million (19.5% of sales). The Italian company’s first quarter 2016 operating income (EBIT) of €37.3 million (16.5% of sales) was up 11.0% on the €33.6 million (15.1%

of sales) reported in the same period last year. Interpump chairman Fulvio Montipò said: “Sales increased in the first quarter of 2016 despite an uncertain macroeconomic situation. Even more important was higher profitability, with EBITDA up by 1.5%, from 19.5% to 21.0%, demonstrating management’s constant commitment to maximizing profits and containing costs.” Q www.interpumpgroup.it

July 2016