4° Quarter 07Financial Results

February 15, 2008

February2008 2

Disclaimer

♦ This presentation has been prepared by EEMS Italia S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies.

♦ For further details on the EEMS Group, reference should be made to publicly available information, including the Quarterly Reports and the Annual Reports.

♦ Statements contained in this presentation, particularly the ones regarding any Eems Group possible or assumed future performance, are or may be forward looking statements and in this respect they involve some risks and uncertainties.

♦ Any reference to past performance of the Eems Group shall not be taken as an indication of future performance.

♦ This document does not constitute an offer or invitation to purchase or subscribe for any shares and no part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

♦ By attending the presentation you agree to be bound by the foregoing terms.

February2008 3

Key Financials data (thousand of €)

Revenues: 3.5% growth, up to €40.5m (€39.1 in 3Q06)

Ebitda: €12m, €12.5m in 4Q06

Ebit: €1.2m vs €2.6m in 4Q06

Ebit and Ebitda, negatively impacted by loss on exchange rate (€1.1 m in 4Q07 vs €0.04 m in 4Q06) and higher services cost due to the growth of operations in Asia

Net income: €2.2m vs a €3.6m in 4Q06

4°Q07Results

4Q07 4Q06 ∆% 07/06 2007 2006 ∆% 07/06Net sales 40,086 39,161 2% 155,870 143,939 8%Other Income 462 2 - 1,298 718 81%Total revenues 40,548 39,163 4% 157,168 144,657 9%

EBITDA 11,951 12,503 (4%) 50,065 47,241 6%

% on total revenues 29% 32% 32% 33%

EBIT 1,163 2,620 (56%) 7,561 9,265 (18%)% on total revenues 3% 7% 5% 6%

Net Income (Loss) 2,246 3,618 (38%) 12,080 7,756 56%% on total revenues 6% 9% 8% 5%

February2008 4

12%

22%

66%

Components

Logic

Modules

Other

12%

15%

73%

Components

Logic

Modules

Other

Net Sales by Business Activity

4Q07 4Q06

February2008 5

38%

22%

40% EUROPE

USA

FAR EAST

48%

12%

40%EUROPE

USA

FAR EAST

Net Sales by Region

4Q07 4Q06

February2008 6

Net Sales and Ebitda Margin

40.539.2

32% 29%

0

5

10

15

20

25

30

35

40

45

Q4 '06 Q4 '07

0%

5%

10%

15%

20%

25%

30%

35%

Total Revenues Ebitda Margin

144.7 157.2

33% 32%

0

20

40

60

80

100

120

140

160

2006 2007

0%

5%

10%

15%

20%

25%

30%

35%

Total Revenues Ebitda Margin

February2008 7

Key Margins

Ebitda down 4% vs 4Q06 although:

Increase in operating lease cost and maintenance cost

higher loss on exchange rate

Higher depreciation cost

As a consequence of the above higher costs, 4Q07 Ebit down vs4Q06 Ebit

EBITDA (€mm)

12.012.5

47.250.1

2006 2007 4Q06 4Q07

+ 6%

EBIT (€mm)

1.2

2.6

9.3

7.6

2006 2007 4Q06 4Q07

Net Income (€mm)

2.2

3.6

7.8

12.1

2006 2007 4Q06 4Q07

Higher interest costs and FX impact

Additional deferred tax liabilities release

Investment allowance recognition

(4)%

+ 56%

February2008 8

487654

801 849 895 903 10001205

529493

438 434 430 424423

417

108

155158 179

217 238268

288

1Q06 2Q06 3Q06 4Q06 1Q07 2Q07 3Q07 4Q07SingaporeItaliaCina

3.8%

Headcount

8.0 8.3

4Q06 4Q07

Despite an headcount increase of 31% from Q4 2006 to Q4 2007, 4Q07 labour cost is in line with 4Q06

Headcount * Labour (€mm)

1,4621,3971,3021,124 1,542 1,566 1,693 1,913

*Headcount do not includes temporary workers

February2008 9

12.0

42.5

29.9

(14.4)

(9.2)

(1.1)

Net Income D&A NWC Deferredtax

Others OCF

37.530.0

2006 2007

Cash flow

Operating Cash Flow (€mm) 2007 Operating Cash Flow Reconciliation (€mm)

2007 2006(Amount in thousands of Euro)Net cash provided by operating activities 29,881 37,508 Net cash used in investing activities (65,814) (102,948) Net cash and cash equivalents provided (used) in financing activities 27,786 76,554 Effect of change of exchange rate on cash and cash equivalent (227) (1,194) Increase (decrease) in cash and cash equivalents (8,374) 9,920

February2008 10

CAPITAL EXPENDITURE

6.5

1.0

8.6

1.6

17.7 17.79.1

9.3

10.5

15.7

44.6

34.6

1.4

2.1

9.4

7.6

1.1

2.8

1.85.7

5.7

16.1

66.8

1.11.1

0.9

5.9 (11.8)

24.9

13.2

24.2

78.4

1Q07 2Q07 3Q07 4Q07 2007 Interco Total

Eems Suzhou

Eems Tech

Eems Test

Eems Italy

Solsonica

February2008 11

10.8

57.65.7 (27.3)

46.0

ST debt LT debt Leaseliabilities

Cash andcash

equivalents

Net debt

14.446.0

153.9157.2

2006 2007

Equity PFN

Capital Structure

Development of capital structure (€mm) Net debt as of December 31, 2007 (€mm)

Drawn-down from ABN of:

€25m to support solar business;

USD5m to inject EEMS Technology equity.

Drawn-down USD26m in Asia from local banks to support growth in semiconductor business

February2008 12

Company Profile

Number of shares: 42,502,345

Price @ 14/02/08: € 3,06

Market Cap: € 130 mm

Italian Stock Exchange - Segmento TechSTAR

Specialist: Intermonte

Auditors: Ernst & Young

Share information

Board of Director

Giovanni Battista Nunziante – Chairman (Independent) Vincenzo D’Antonio – CEO*Roberto Biondi - Director*Guido Cottini - Independent DirectorAlbert NG – Director*

* Member of Operating Committee

(1) As of Feb 14, 2008

Group Structure

Shareholding (1)

Free Float, 48.6%

Mallett/Schroder, 43.1%

Management, 8.3%

February2008 13

Appendix

February2008 14

Financial Highlights - P&L

4Q064Q07 4Q064Q07

(thousands of Euro)

Revenues 40,548 39,163 100.0% 100.0%

Raw Material and Others 12,418 12,906 30.6% 33.0%Services 6,684 5,393 16.5% 13.8%Labor 8,322 8,038 20.5% 20.5%Other Operating expenses 1,173 323 2.9% 0.8%

EBITDA 11,951 12,503 29.5% 31.9%Depreciation and amortization 10,750 9,948 26.5% 25.4%Impairments 38 (65) 0.1% -0.2%

EBIT 1,163 2,620 2.9% 6.7%Financial Income 467 375 1.2% 1.0%Financial expenses (2,032) (851) -5.0% -2.2%

Income before income taxes (402) 2,144 -1.0% 5.5%Income taxes (2,648) (1,474) -6.5% -3.8%Net Income (Loss) 2,246 3,618 5.5% 9.2%Attributable to parent company 2,246 3,618 5.5% 9.2%Attributable to third parties - - 0.0% 0.0%

February2008 15

Financial Highlights - P&L

2007

(thousands of Euro)

20072006 2006

Revenues 157,168 144,657 100.0% 100.0%

Raw Material and Others 48,806 46,735 31.1% 32.3%Services 22,704 16,947 14.4% 11.7%Labor 32,602 31,919 20.7% 22.1%Other Operating expenses 2,991 1,815 1.9% 1.3%

EBITDA 50,065 47,241 31.9% 32.7%Depreciation and amortization 42,344 38,105 26.9% 26.3%Impairments 160 (129) 0.1% -0.1%

EBIT 7,561 9,265 4.8% 6.4%Financial Income 1,137 1,232 0.7% 0.9%Financial expenses (5,231) (4,154) -3.3% -2.9%

Income before income taxes 3,467 6,343 2.2% 4.4%Income taxes (8,613) (1,413) -5.5% -1.0%Net Income (Loss) 12,080 7,756 7.7% 5.4%Attributable to parent company 12,080 7,405 7.7% 5.1%Attributable to third parties - 351 0.0% 0.2%

February2008 16

Financial Highlights – Balance Sheet

31/12/07 31/12/06(thousands of Euro)

Intangible Assets 14,649 11,889 Tangible Assets 187,823 178,913 Other non-current assets 3,723 187 Total Non-Current Assets 206,195 190,989

Inventories 7,972 6,625 Trade receivables 32,458 20,331 Tax receivables 1,696 1,715 Cash and cash equivalent 28,166 36,540 Other current assets 2,884 651 Total Current Assets 73,176 65,862

Total Assets 279,371 256,851

Total Shareholders' Equity 157,210 153,884

Non-Current financial Liabilities 59,485 26,330 Employee severance indemnities (TFR) 8,152 7,927 Deferred taxes 1,188 10,115 Others 328 226 Total Non-Current Liabilities 69,153 44,598

Current financial liabilities 15,090 25,020 Trade payables 31,204 26,627 Taxes payables 579 867 Others current liabilities 6,135 5,855 Total Current Liabilities 53,008 58,369 Total Liabilities 122,161 102,967 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 279,371 256,851

February2008 17

Financial Highlights – Cash Flow

2007 2006

(thousands of Euro)

Net cash provided by operating activities 29,881 37,508 Net cash used in investing activities (65,814) (102,948) Net cash and cash equivalents provided (used) in financing activities 27,786 76,554 Effect of change of exchange rate on cash and cash equivalent (227) (1,194) Increase (decrease) in cash and cash equivalents (8,374) 9,920