15
        
        
          20
        
        
          14
        
        
          Who We Are
        
        
          //
        
        
          ANNUAL REVIEW & SUSTAINABILITY REPORT
        
        
          2014 Sales Variance (%)
        
        
          By Region since Investindustrial entry
        
        
          North
        
        
          America
        
        
          38%
        
        
          Italy
        
        
          12%
        
        
          Rest of
        
        
          the World
        
        
          25%
        
        
          Spain
        
        
          7%
        
        
          Rest
        
        
          of Europe
        
        
          18%
        
        
          More than 80% of the portfolio growth since inception has come
        
        
          from markets outside of Southern Europe and 63% of this growth
        
        
          has been driven from non-European Countries
        
        
          Spain
        
        
          5%
        
        
          2012 Italy
        
        
          Restof
        
        
          2012 Europe
        
        
          America
        
        
          North
        
        
          55%
        
        
          31%
        
        
          41%
        
        
          8%
        
        
          oftheWorld
        
        
          Rest
        
        
          2014 Sales
        
        
          (1)
        
        
          Variance (%)
        
        
          By Region
        
        
          (1)
        
        
          Sales weighted by shareholding of the companies present in the portfolio at the end of 2014
        
        
          2
        
        
          From left: Dante Razzano (Managing Principal at Investindustrial),
        
        
          Andrea C. Bonomi (Managing Principal at Investindustrial), Joaquin
        
        
          Güell (Managing Principal at Investindustrial) and Carlo Umberto
        
        
          Bonomi (Managing Principal at Investindustrial) at the Lugano office
        
        
          (Switzerland).
        
        
          3.
        
        
          From Left Luis Minano (Non-Executive Chairman of Avincis
        
        
          and Founder of Inaer), Carlo Umberto Bonomi (Managing
        
        
          Principal at Investindustrial), Andrea Cicero (CFO of Avincis Group),
        
        
          Eduardo Segura (Vice President at Investindustrial), Kate Hill
        
        
          (Avincis Group Communications Director), Mateo Paniker (Senior
        
        
          Principal at Investindustrial) and James Drummond (Global CEO of
        
        
          Avincis Group) during the last Investindustrial’s Annual General
        
        
          Meeting in London.
        
        
          4.
        
        
          Carlo Umberto Bonomi (Managing Principal at Investindustrial) with
        
        
          Michael Peng (President of Aston Martin China) at the 2015
        
        
          Shanghai Auto show
        
        
          4
        
        
          3
        
        
          2