127 COnSOLIdATed FInAnCIAL STATeMenTS126 COnSOLIdATed FInAnCIAL STATeMenTS MONCLER GROUP 2023

5.7 CASH AND CASH EQUIVALENT

As at 31 december 2023 the caption cash and cash equivalent amounted to eUR 998.8 million (eUR 882.3 million as at 31 decem- ber 2022) and included cash and cash equivalents as well as the funds available at banks.

The amount included in the Consolidated Financial State- ments represents the fair value at the date of the financial state- ments. The credit risk is very limited since the other parties are class A financial institutions.

The consolidated statement of cash flows includes the changes in cash and cash in bank as well as the bank overdrafts.

The following table shows the reconciliation between cash and cash in bank with those included in the consolidated statement of cash flows:

CASH AND CASH EQUIVALENTS INCLUDED IN THE STATEMENT OF CASH FLOWS

(Euro/000) 31/12/2023 31/12/2022 Cash on hand and at banks 998,799 882,254 Bank overdraft and short-term bank loans 0 0 Total 998,799 882,254

5.8 FINANCIAL CURRENT ASSETS

The caption financial current assets refers to the receivables aris- ing from the market valuation of the existing derivative financial in- struments to hedge the exchange rate risk equal to euro 9.7 million (euro 11.4 million in 2022) and the deposit of government bonds equal to euro 68.6 million (not present in 2022).

5.9 OTHER CURRENT AND NON-CURRENT ASSETS

OTHER CURRENT AND NON-CURRENT ASSETS

(Euro/000) 31/12/2023 31 /12/2022 Prepayments and accrued income - current 15,909 16,135 Other current receivables 25,992 31,217 Other current assets 41,901 47,352 Prepayments and accrued income - non-current 113 87 Security / guarantees deposits 43,454 44,615 Investments in associated companies 2,531 36 Other non-current receivables 3,395 2,125 Other non-current assets 49,493 46,863 Total 91,394 94,215

Other current receivables mainly comprise the receivable due from the tax authority for value added tax.

deposits are mostly related to the amounts paid on behalf of the lessee as a guarantee to the lease agreement.

The caption investments in associated companies includes the 30.0% interest in the company ALS Luxury Logistic S.r.l., ac- quired in 2023, while the investment in the company 3B Restaurant S.r.l., which dealt with catering, was sold during the year. The sale took place at its book value.

There are no differences between the amounts included in the Consolidated Financial Statements and their fair values.

5.10 TRADE PAYABLES

As at 31 december 2023 Trade payables amounted to eUR 538.6 million (eUR 482.4 million as at 31 december 2022) and included current payables due to suppliers for goods and services. These payables pertained to amounts that are payable within the upcoming year and did not include amounts that will be paid after 12 months.

In 2023 and 2022 there were no outstanding positions as- sociated to individual suppliers that exceed 10% of the total value.

There are no differences between the amounts included in the

Consolidated Financial Statements and their respective fair values. Please refer to note 9.1 for an analysis of trade payable denominat- ed in foreign currencies.

5.11 OTHER CURRENT AND NON-CURRENT LIABILITIES

OTHER CURRENT AND NON-CURRENT LIABILITIES

(Euro/000) 31/12/2023 31/12/2022 deferred income and 699 2,078 accrued expenses - current Advances and payments on 23,636 18,658 account to customers employee and social institutions 78,575 56,039 Tax accounts payable, excluding income taxes 36,978 39,776 Other current payables 13,024 11,812 Other current liabilities 152,912 128,363 deferred income and accrued 103 117 expenses - non-current Other non-current liabilities 103 117 Total 153,015 128,480

The caption taxes payable includes mainly value added tax (VAT) and payroll tax withholding.

5.12 TAX ASSETS AND LIABILITIES

Tax assets amounted to eUR 9.3 million as at 31 december 2023 (eUR 5.9 million as at 31 december 2022).

Tax liabilities amounted to eUR 134.5 million as at 31 decem- ber 2023 (eUR 158.9 million as at 31 december 2022). They are rec- ognised net of current tax assets, where the offsetting relates to the same tax jurisdiction and tax system.

The subsidiary Industries S.p.A. received in 2023 a Tax As- sessment notice related to the 2016 financial year, which reports some findings related to transfer price methodologies. The Com- pany believes that the findings raised are unfounded and has there- fore taken action in the appropriate forums to protect its position and, also supported by the opinion of the primary consultants in charge, is confident that the correctness of its actions will emerge as a result of the dispute initiated.

5.13 NON-CURRENT PROVISIONS

Provision changes are shown in the following table:

PROVISION FOR CONTINGENCIES AND LOSSES

(Euro/000) 01/01/2023 Increase Decrease Translation Other 31/12/2023 differences movements Tax litigations (11,164) 0 0 0 0 (11,164) Other non current contingencies (16,097) (1,724) 1,656 736 (1,097) (16,526) Total (27,261) (1,724) 1,656 736 (1,097) (27,690)

PROVISION FOR CONTINGENCIES AND LOSSES

(Euro/000) 01/01/2022 Increase Decrease Translation Other 31/12/2022 differences movements Tax litigations 0 (11,164) 0 0 0 (11,164) Other non current contingencies (11,320) (4,649) 1,253 335 (1,716) (16,097) Total (11,320) (15,813) 1,253 335 (1,716) (27,261)