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SOGEFI PRESS RELEASE RESULTS FOR FIRST QUARTER 2021 REVENUES RECOVER AND PROFITABILITY IMPROVES Revenues significantly higher at € 356.6 million ( + 9.3 % at constant exchange rates ) outperforming the market in all geographical areas EBITDA margin at 15.4 % of revenues up from Q1 2020 ( 11.3 % ) and Q1 2019 ( 11 % ) Net income € 11.8 million ( loss of € 5.6 million in first quarter 2020 and earnings of € 1.6 million in first quarter 2019 ) Free Cash Flow positive for € 32.4 million versus € 5.4 million in Q1 2020 Highlights from results for Q1 2021 * ( in € m ) Q1 2019 Q1 2020 Q1 2021 A % Revenues EBITDA ** 376.1 339.4 356.6 +5.0 A % at constant exchange rates +9.3 41.4 38.2 54.8 EBIT 12.5 7.9 25.9 Net result 1.6 -5.6 11.8 Net debt ( end of period ) 262.1 256.7 261.1 before IFRS16 * The values for the year 2020 were restated on the application of IFRS 5 ( " Non - current assets held for sale and discontinued operations " ) to the Brazilian subsidiary sold in December 2020 , and to the Spanish subsidiary sold in January 2021 , both of which belonged to the Filtration business unit . ** EBITDA is calculated by adding to the item " Ebit " the item " Amortization and depreciation " and the amount of the write- down of tangible and intangible fixed assets contained in the item " Other non - operating costs ( revenues ) " , equal to € 0.5 million at March 31 2021 ( € 0.9 million in the same period of the previous year ) . Milan , April 23 2021 - The Board of Directors of Sogefi S.p.A. , which met today under the chairmanship of Monica Mondardini , has approved the Interim Financial Report of the Group as of March 31 2021 , presented by Chief Executive Officer Frederic Sipahi . Sogefi , a company of the CIR Group , is one of the main global producers of automotive components for three sectors : Air and Cooling , Filtration and Suspensions . 1