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Gardone Valtrompia (BS), 7 June 2018 - The general meeting of shareholders of Beretta Holding S.p.A. has approved the Group consolidated financial statements for 2017.

The Group chaired by Pietro Gussalli Beretta closed the year with a consolidated turnover of 668.6 million euros, slightly down (-1.6%) compared to 679.4 million euros in 2016.

Consolidated sales were realized for 85% in the commercial sectors and for the remaining 15% in the defense and law enforcement sector, a breakdown substantially unchanged compared to 2016.

The Group's international attitude is confirmed, with a turnover in foreign markets accounting for around 93% of the total.

The year was characterized by a noticeable drop in the US market demand, which historically represents a share close to 50% of the total turnover, which was at least partly offset by the further growth of the European market and the increase in the weight of the other areas.

Non-firearms products are confirmed at around 30% of the total turnover: the optical division is close to 100 million; the clothing and accessories division exceeds 40 million (+ 14%).

The economic results were penalized by the strong tightening of competitive tensions in the United States, by the progressive weakening of the euro and the difficulties faced in the startup of the new manufacturing plant in Tennessee; the EBITDA amounted to 84.4 million euro (13% of consolidated revenues) compared to 117 million in 2016; the net profit, affected by a higher incidence of taxes, is equal to 30 million euros, compared to the 59.6 million euros of 2016.

The new investments went from 35.9 to 27.7 million, but with an increase in the amount dedicated to new plants and machinery, with particular reference to automation and digital transformation of processes.

Expenditure on research and development, fully charged to the income statement of the year, amounted to around 17 million euros (2.5% of turnover), substantially in line with 2016.

The average number of staff employed by the Group is stable at around 2,950 employees.

The net financial position at the end of the period was positive for € 164.3 million.

Regarding the year 2018, the budget targets provide for an increase in turnover and profitability; the economy of the main markets in which the group operates shows a good state of health and the demand of the North American market seems to be regaining its strength.