FY 2019 CONSOLIDATED RESULTS

FY 2019 - FY 2018 SALES GROWTH

Reported

Constant

rates

rates

Tod's

-7,4%

-8,7%

Roger Vivier

+15,5%

+13,7%

Hogan

-4,7%

-5,0%

Fay

-8,0%

-8,1%

TOTAL

-2,6%

-3,7%

CONSOLIDATEDTURNOVER BY BRAND

FY 2019 CONSOLIDATED SALES

other

RV

0,1%

21,9%

Fay

Tod's

6,1%

50,4%

Hogan

21,4%

FY 2018 CONSOLIDATED SALES

other

RV0,1%

18,5%

Fay

6,5%

Tod's

53,0%

Hogan 21,9%

3

FY 2019 - FY 2018 SALES GROWTH

Reported

Constant

rates

rates

Shoes

-1,7%

-2,8%

Leather Goods & accessories

-5,4%

-7,3%

Apparel

-6,7%

-6,9%

TOTAL

-2,6%

-3,7%

CONSOLIDATEDTURNOVER BY PRODUCT

FY 2019 CONSOLIDATED SALES

apparel other

6,8% 0,1%

leather goods

13,3%

shoes

79,8%

FY 2018 CONSOLIDATED SALES

apparel other7,2% 0,1%

leather goods

13,7%

shoes

79,1%

4

CONSOLIDATEDTURNOVER BY REGION

FY 2019 CONSOLIDATED SALES

Rest of the

FY 2019 - FY 2018 SALES GROWTH

Reported

Constant

rates

rates

Italy

-7,7%

-7,7%

World 14,4%

China

23,5%

Italy 28,5%

Rest of Europe

-2,6%

-2,9%

Americas

-3,2%

-7,0%

Greater China

+2,3%

+0,4%

Rest of world

+0,8%

-1,4%

TOTAL

-2,6%

-3,7%

Americas

Europe

7,7%

25,9%

FY 2018 CONSOLIDATED SALES

Rest of the

World Italy

13,9% 30,0%

China

22,4%

AmericasEurope

7,8%25,9%

5

FY 2019 - FY 2018 SALES GROWTH

Reported

Constant

rates

rates

Retail (Dos & online)

+6,2%

+4,8%

Franchise & Independent

-18,8%

-19,2%

TOTAL

-2,6%

-3,7%

CONSOLIDATEDTURNOVER BY CHANNEL

FY 2019 CONSOLIDATED SALES

FS & Ind.

29,5%

DOS 70,5%

FY 2018 CONSOLIDATED SALES

FS & Ind.

35,4%

DOS 64,6%

6

PROFIT & LOSS KEY FIGURES

Figures in Euro/000s

FY 2019

FY 2019

impact

FY 2018

of

incl. IFRS16

excl. IFRS16

IFRS16

SALES

915.983

915.983

940.499

EBITDA (1)

255.396

150.223

105.173

118.335

% of Sales

27,9%

16,4%

12,6%

EBIT

101.060

104.366

-3.306

71.760

% of Sales

11,0%

11,4%

7,6%

PROFIT BEFORE TAXES

76.971

95.186

-18.215

65.751

% of Sales

8,4%

10,4%

7,0%

CONSOLIDATED NET INCOME

45.659

46.458

% of Sales

5,0%

4,9%

GROUP'S NET INCOME

46.283

47.146

% of Sales

5,1%

5,0%

GROUP'S NET INCOME PER SHARE

1,40

1,42

DIVIDEND PER SHARE

0,60

1,00

pay-out on Group's net income

43%

70%

pay-out on parent company's net income

65%

48%

(1) 2019 EBITDA includes 97,5 mln Euros of extraordinary income related to the disposal of the Omotesando real estate.

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

7

BALANCE SHEET KEY FIGURES

Figures in Euro/000s

December 31st

December 31st

December 31st,

2019

2019

2018

incl. IFRS16

excl. IFRS16

Trade receivables

97.170

101.222

Inventories

384.632

362.168

Trade payables

(137.191)

(148.989)

NET WORKING CAPITAL

344.611

314.401

% of Sales

37,6%

33,4%

Right of use assets

446.126

0

0

Intangible fixed assets

590.552

590.552

604.708

Tangible fixed assets

150.589

150.589

203.890

Other fixed assets

70.955

70.955

75.767

TOTAL FIXED ASSETS

1.258.222

812.096

884.364

NET FINANCIAL DEBT/(CASH)

451.162

12.082

75.252

CONSOLIDATED SHAREHOLDERS' EQUITY

1.080.548

1.064.698

GROUP'S SHAREHOLDERS' EQUITY

1.081.637

1.065.150

net of minorities

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

8

CASH FLOW KEY FIGURES

Figures in Euro/000s

December 31st,

December 31st,

2019

2018

CASH FLOW FROM OPERATING ACTIVITIES

111.908

30.641

NET CASH FLOW FROM OPERATING ACTIVITIES

95.905

25.431

CAPEX

(47.538)

(41.116)

OTHER INVESTMENTS, NET

140.477

(20.500)

CASH FLOW FROM FINANCING

(200.700)

4.786

CASH FLOW

(12.735)

(32.355)

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

9

APPENDIX

10

DISTRIBUTION NETWORK

DOS

FRANCHISED STORES

200

177

177

173

100

86

85

78

150

80

100

60

57

39

47

40

26

27

30

33

18

50

26

23

20

20

10

10

20

8

9

10

7

0

0

0

0

0

0

0

0

31 - dec - 17

31 - dec - 18

31 - dec - 19

31 - dec - 17

31 - dec - 18

31 - dec - 19

TOD'S

HOGAN

DEV

FAY

RV

TOD'S

HOGAN

DEV

FAY

RV

Rest of World

Italy

Italy

Europe

19%

13%

16%

2%

Americas

4%

Greater China

Europe

19%

32%

Rest of World

Japan

Americas

Japan

58%

0%

8%

12%

Greater China

____________________

17%

Percentages calculated on the stores as of December 31st, 2019

11

DETAILED FINANCIAL STATEMENTS

CONSOLIDATED PROFIT & LOSS

(€000's)

FY 2019 (IFRS16 compliant)

FY 2018

FY 2017

Sales

915.983

100,0%

940.499

100,0%

963.287

100,0%

Other Revenues

108.641

11,9%

10.850

1,2%

19.451

2,0%

Total Revenues

1.024.624

111,9%

951.349

101,2%

982.738

102,0%

Raw Materials Costs

(224.984)

-24,6%

(225.623)

-24,0%

(242.419)

-25,2%

Costs for Services

(238.732)

-26,1%

(234.679)

-25,0%

(237.871)

-24,7%

Costs for the Use of Third Parties Assets

(55.736)

-6,1%

(142.141)

-15,1%

(118.229)

-12,3%

Labour Costs

(213.884)

-23,4%

(198.368)

-21,1%

(191.540)

-19,9%

Other Operating Costs

(35.891)

-3,9%

(32.201)

-3,4%

(32.188)

-3,3%

EBITDA

255.396

27,9%

118.335

12,6%

160.492

16,7%

Depreciation

(35.113)

-3,8%

(34.001)

-3,6%

(35.405)

-3,7%

Amortisation

(8.775)

-1,0%

(9.073)

-1,0%

(8.814)

-0,9%

Depreciation for right of use assets

(105.269)

-11,5%

Provisions and Revaluations

(5.179)

-0,6%

(3.502)

-0,4%

(4.513)

-0,5%

EBIT

101.060

11,0%

71.760

7,6%

111.760

11,6%

Net Financial Income (Expenses)

(24.090)

-2,6%

(6.009)

-0,6%

(9.863)

-1,0%

Profit Before Taxes

76.971

8,4%

65.751

7,0%

101.897

10,6%

Taxes

(31.312)

-3,4%

(19.293)

-2,1%

(32.535)

-3,4%

Consolidated Net Income

45.659

5,0%

46.458

4,9%

69.362

7,2%

Minority Interests

625

0,1%

688

0,1%

1.645

0,2%

Group's Net Income

46.283

5,1%

47.146

5,0%

71.007

7,4%

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

12

DETAILED FINANCIAL STATEMENTS

CONSOLIDATED BALANCE SHEET

Dec 31st,

Dec 31st,

Dec 31st,

(€000's)

2019

2018

2017

Right of Use Assets

446.126

0

0

Intangible Fixed Assets

590.552

604.708

602.005

Tangible Fixed Assets

150.589

203.890

200.932

Other Fixed Assets

70.955

75.767

68.979

Total Fixed Assets

1.258.222

884.365

871.916

Inventories

384.632

362.168

312.263

Trade Receivables

97.170

101.222

107.471

Cash and Cash Equivalents

184.072

191.268

221.609

Other Current Assets

105.702

77.901

71.274

Total Current Assets

771.576

732.559

712.618

Total Assets

2.029.798

1.616.923

1.584.534

Share Capital

66.187

66.187

66.187

Reserves

969.167

951.818

949.078

Net Result for the Period

46.283

47.145

71.007

Group's Shareholders' Equity

1.081.637

1.065.150

1.086.272

Minority Interest Equity

(1.089)

(452)

880

Cons. Shareholders' Equity

1.080.548

1.064.698

1.087.152

Trade Payables

137.191

148.989

158.388

Staff Severance Provision

16.416

14.189

13.157

Bank Debts

196.153

266.519

212.271

Liase Liabilities

439.080

0

0

Other Liabilities

160.410

122.528

113.567

Total Liabilities

949.250

552.225

497.383

Total Equity and Liabilities

2.029.798

1.616.923

1.584.534

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

13

DETAILED FINANCIAL STATEMENTS

CONSOLIDATED CASH FLOW

Dec 31st, 2019

Dec 31st, 2018

Dec 31st, 2017

(€000's)

12 months

12 months

12 months

Net income for the period

45.659

46.458

69.632

Income Statement adjustments

Depreciation, amortisation and provisions

157.798

47.448

48.274

Other not monetary charges

(84.717)

(7.528)

1.756

Taxes paid

31.312

19.293

32.535

Changes in operating assets and liabilities

Change in inventories, trade receivables and payables

(35.639)

(61.030)

16.282

Change in other current assets/liabilities

(2.504)

(14.000)

(2.444)

Cash Flow from Operating activities

111.908

30.641

165.764

Interests (paid)/collected

(124)

(1.189)

Interests on lease (paid)/collected

(13.105)

Income taxes (paid)/refunded

(2.898)

(5.085)

(16.380)

Net Cash Flow from Operating activities

95.905

25.431

148.195

Net Investments in tangible and intangible fixed assets

(47.538)

(41.116)

(35.868)

Acquisition of Italiantouch Group

(19.350)

Disposal of Omotesando real estate

140.477

Other acquisitions

(1.150)

Cash Flow from Investments

92.939

(61.615)

(35.868)

Dividens paid

(33.094)

(46.331)

(56.259)

Changes in lease assets

(91.645)

Change in financial liabilities and other not current liabilities

(75.961)

51.117

(49.713)

Cash Flow from Financing

(200.700)

4.786

(105.972)

Translation exchange differences

(880)

(956)

(12.648)

CASH FLOW

(12.735)

(32.335)

(6.293)

____________________

(*) 2019 figures are unaudited, approved by the Board of Directors on March 12th, 2020 and subject to the approval of the Shareholders' Meeting on April 22nd, 2020.

14

SHAREHOLDING INFORMATION

TOD'STICKERS

Bloomberg

TOD IM

Reuters

TOD.MI

OUTSTANDING SHARES (*)

33.093.539 ordinary shares, of which:

- 20.346.463 with increased vote

- 12.747.076 with unitary vote

SHAREHOLDING STRUCTURE (*)

Della Valle family

71,25%

Free float

28,75%

VOTING RIGHTS(*)

Della Valle family

82,2%

IR CONTACTS

Cinzia Oglio - Investor Relations Manager

Tel: +39 02 7722 5354 e-mail: c.oglio@todsgroup.com

____________________

(*) as of February 7th, 2020

15

SHAREHOLDING STRUCTURE

LIST OFTHE RELEVANT SHAREHOLDERS

(situation as of February 7th,2020

on the basis of the latest official communications received from shareholders)

percentage of

percentage of

share capital

voting rights

(1)

(2)

DI.VI. FINANZIARIA DI DIEGO DELLA VALLE &

50,29%

62,29%

C. SRL

DIEGO DELLA VALLE & C. SRL

19,39%

17,95%

Diego Della Valle

0,76%

0,94%

TOTALE DIEGO DELLA VALLE

70,44%

81,18%

ANDREA DELLA VALLE

0,81%

1,01%

CAISSE DE DÉPÔT ET PLACEMENT DU

3,56%

2,20%

QUÉBEC

DELPHINE SAS (Bernard Arnault)

3,20%

1,98%

  1. calculated on the 33,093,539 number of shares
  2. calculated on the 53,440,002 number of voting rights

% OF OUTSTANDING SHARES (1)

Delphine Sas

other

3,2%

22,0%

Caisse de

Depot

3,6%

Diego Della

Andrea Della

Valle

Valle

70,4%

0,8%

% OFVOTING RIGHTS (2)

other

13,6%

Caisse de

Delphine Sas

Diego Della

Depot

2,0%

Valle

2,2%

81,2%

Andrea Della

Valle

1,0%

16

BROKERS' COVERAGE

Banca Akros

Bank of America

Bryan Garnier & Co.

Citigroup Global

Credit Suisse

Merrill Lynch

Markets

Deutsche Bank

Equita SIM

Exane BNP

Fidentiis Equities

Goldman Sachs

Paribas

HSBC Bank

Intermonte Securities

Jefferies International

J. P. Morgan

Kepler Cheuvreux

MainFirst Bank

Mediobanca

Morgan Stanley

Société Générale

UBS

Securities

____________________

Note: for analysts' details, please visit the corporate website: www.todsgroup.com

17

DISCLAIMER

THIS PRESENTATION, ITS CONTENTS AND ANY STATEMENT MADE IN CONNECTION WITH IT DO NOT AMOUNT TO - AND CANNOT BE CONSTRUED AS AMOUNTING TO - ANY SOLICITATION OR OTHER OFFER TO SELL OR BUY ANY SECURITY OR FINANCIAL INSTRUMENT ISSUED BY TOD'S S.P.A., NOR TO A RECOMMENDATION, SUGGESTION, ADVOCACY OR OTHER MARKETING OR SIMILAR EFFORT OF ANY INVESTMENT IN ANY SECURITIES.

THEREFORE, ANY INVESTOR CONTEMPLATING PURCHASING SECURITIES OR FINANCIAL INSTRUMENTS ISSUED BY TOD'S S.P.A. SHOULD MAKE ITS OWN INDEPENDENT INVESTIGATION AND ASSESSMENT WITH RESPECT TO THE FINANCIAL CONDITION AND AFFAIRS OF THE ISSUER, AS WELL AS ITS OWN APPRAISAL OF TOD'S S.P.A.'S CREDITWORTHINESS, AND IT SHOULD CAREFULLY CONSIDER THE RISK INVOLVED IN PURCHASING SUCH SECURITIES OR FINANCIAL INSTRUMENTS.

ANY FORWARD LOOKING STATEMENT INCLUDED IN THIS PRESENTATION OR PROVIDED IN CONNECTION WITH IT REFLECTS MANAGEMENT'S CURRENT PLANS, VIEWS, ESTIMATES, PROJECTIONS AND OBJECTIVES. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM SUCH EXPECTATIONS, AS THEY RELATE TO FUTURE EVENTS AND CIRCUMSTANCES WHICH ARE BEYOND OUR CONTROL, INCLUDING, AMONGST OTHER THINGS, INTERNAL, INDUSTRY AND EXTERNAL FACTORS, SUCH AS GENERAL ECONOMIC CONDITIONS. ANY USER OF SUCH INFORMATION SHOULD NOT PLACE UNDUE RELIANCE ON SUCH FORWARD LOOKING STATEMENTS.

THIS PRESENTATION, ITS CONTENTS AND ANY STATEMENT MADE IN CONNECTION WITH IT HAVE NOT BEEN INDEPENDENTLY VERIFIED. NO REPRESENTATION OR WARRANTY, EITHER EXPRESS OR IMPLIED, IS MADE AS TO, AND NO RELIANCE SHOULD BE PLACED ON, THE FAIRNESS, ACCURACY, COMPLETENESS, CORRECTNESS OR RELIABILITY OF THE INFORMATION PROVIDED. TOD'S S.P.A., ITS REPRESENTATIVES, DIRECTORS AND EMPLOYEES ARE NOT (AND CANNOT BE HELD) LIABLE, UNDER ANY CIRCUMSTANCE AND FOR ANY REASON, IN RELATION TO SUCH INFORMATION OR ANY DAMAGE, LOSS OR COST ARISING FROM ITS USE OR OTHERWISE. TOD'S S.P.A. IS UNDER NO OBLIGATION TO UPDATE OR KEEP CURRENT THE INFORMATION CONTAINED IN THIS PRESENTATION.

THIS PRESENTATION, ITS CONTENT AND ANY STATEMENT MADE IN CONNECTION WITH IT ARE STRICTLY CONFIDENTIAL TO THE RECIPIENT AND MAY NOT BE REPRODUCED OR REDISTRIBUTED, IN WHOLE OR IN PART, OR OTHERWISE DISSEMINATED, DIRECTLY OR INDIRECTLY, TO ANY OTHER PERSON. ALL COPYRIGHTS RESERVED.

BY ATTENDING THIS PRESENTATION OR OTHERWISE ACCESSING THESE MATERIALS, YOU AGREE TO BE BOUND BY THE FOREGOING LIMITATIONS.

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Tod's S.p.A. published this content on 12 March 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 March 2020 22:22:02 UTC