Your browser is not up to date and is not able to run this publication.

139 CONSOLIDATED FINANCIAL STATEMENTS138 CONSOLIDATED FINANCIAL STATEMENTS MONCLER GROUP 2022

The object of the Plan is the free granting of the Moncler shares in case certain Performance Targets are achieved at the end of the vesting period of 3 years.

The Performance Targets are expressed base on the follow- ing index of the Group in the Vesting Period, adjusted by the condi- tions of over/under performance: (i) Net Income, (ii) Free Cash Flow and (iii) ESG (Environmental Social Governance).

The proposed maximum number of shares serving the Plan is equal to n. 2,000,000 resulting from allocation of treasury shares.

The Plan provides for a maximum of 3 cycles of attribution; as regards the first attribution cycle, on 4 may 2022 the Board of Di- rectors resolved the granting of 971,169 Moncler Rights.

As at 31 December 2022 there are still in circulation 928,950 rights related to the first cycle of attribution, which effect on the 2022 income statement amount to EUR 9.8 million

As stated by IFRS 2, these plans are defined as Equity Set- tled.

For information regarding the plan, please see the company s website, www.monclergroup.com, in the Governance/Sharehold- ers Meeting section.

10.3 SUBSIDIARIES AND MINORITY INTERESTS

Following are the financial information of the subsidiaries that have significant minority interests.

SUMMARY OF SUBSIDIARY S FINANCIAL INFORMATION

(Euro/000) 31/12/2022 Assets Liabilities Net equity Revenue Profit/(Loss) Profit/(Loss) attributable to minority White Tech Sp.zo.o. 467 64 385 225 30 9

SUMMARY OF SUBSIDIARY S FINANCIAL INFORMATION

(Euro/000) 31/12/2021 Assets Liabilities Net equity Revenue Profit/(Loss) Profit/(Loss) attributable to minority White Tech Sp,zo,o, 425 64 361 225 66 20

Cash Flow 2022 (*)

(Euro/000) White Tech Sp.zo.o. Operating Cash Flow 28 Free Cash Flow 29 Net Cash Flow 23

Cash Flow 2021 (*)

(Euro/000) White Tech Sp.zo.o. Operating Cash Flow 84 Free Cash Flow 69 Net Cash Flow 66

(*) Amounts showed according to the Cash Flow Statements included in the Directors Report

10.4 SIGNIFICANT NON-RECURRING EVENTS AND TRANSACTIONS

We point out that, on 28 June 2022, the Board of Directors of Mon- cler S.p.A. approved the realignment of the tax value of the Stone Island brand to its statutory value, opting for the regime pursuant to Art. 15 of Italian Decree Law 185/2008; this option entailed the payment of a substitute tax for 16% of the brand s value, equal to EUR 124.1 million, registered under current taxes and the release of EUR 216.4 million in previously-recognised deferred taxes payable. The net positive effect of the transaction was thus EUR 92.3 million. Please refer to the paragraph 4.8 for a description of the transaction.

10.5 ATYPICAL AND/OR UNUSUAL TRANSACTIONS

It should be noted that during 2022 the Group did not enter into any atypical and/or unusual transactions.

10.6 FINANCIAL INSTRUMENTS

The following table shows the carrying amount and fair values of fi- nancial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value. It does not include fair value information for financial assets and fi- nancial liabilities not measured at fair value if the carrying amount is a reasonable approximation of fair value.

(Euro/000) 31/12/2022 Current Non-current Fair value Level Financial assets measured at fair value Interest rate swap used for hedging - - - Forward exchange contracts used for hedging 11,351 - 11,351 2 Sub-total 11,351 - 11,351 Financial assets not measured at fair value Trade and other receivables (*) 296,550 44,615 Cash and cash equivalents (*) 882,252 - Sub-total 1,178,802 44,615 - Total 1,190,153 44,615 11,351

(Euro/000) 31/12/2021 Current Non-current Fair value Level Financial assets measured at fair value Interest rate swap used for hedging - - - Forward exchange contracts used for hedging 722 - 722 2 Sub-total 722 - 722 Financial assets not measured at fair value Trade and other receivables (*) 234,919 35,989 Cash and cash equivalents (*) 932,718 - Sub-total 1,167,637 35,989 - Total 1,168,359 35,989 722

(Euro/000) 31/12/2022 Current Non-current Fair value Level Financial liabilities measured at fair value Interest rate swap used for hedging - - - 2 Forward exchange contracts used for hedging (8,965) - (8,965) 2 Other financial liabilities (14,482) (42,160) (56,642) 3 Sub-total (23,447) (42,160) (65,607) Financial liabilities not measured at fair value Trade and other payables (*) (512,895) - Bank overdrafts (*) - - Short-term bank loans (*) - - Bank loans (*) (7,435) (2,258) IFRS 16 financial loans (*) (163,194) (674,285) Sub-total (683,524) (676,543) - Total (706,971) (718,703) (65,607)

(Euro/000) 31/12/2021 Current Non-current Fair value Level Financial liabilities measured at fair value Interest rate swap used for hedging - - - 2 Forward exchange contracts used for hedging (18,959) - (18,959) 2 Other financial liabilities (2,831) (30,340) (33,171) 3 Sub-total (21,790) (30,340) (52,130) Financial liabilities not measured at fair value Trade and other payables (*) (385,908) - Bank overdrafts (*) (3) - Short-term bank loans (*) (130,000) - Bank loans (*) (11,801) (9,713) IFRS 16 financial loans (*) (125,597) (584,679) Sub-total (653,309) (594,392) - Total (675,099) (624,732) (52,130)

(*) Such items refer to short-term financial assets and financial liabilities whose carrying value is a reasonable approximation of fair value, which was therefore not disclosed.

Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022Moncler - Annual Report 2022
Powered by Fluidbook