Highlights

ECONOMIC RESULTS

(euro million)	2019	2020	2021	2022	2023	% 23/22
Sales	2,591.7	2,208.6	2,777.6	3,629.0	3,849.2	+6.1%
Gross operating income % on sales	515.2 19.9%	388.7 17.6%	502.7 18.1%	625.2 17.2%	665.8 17.3%	+6.5%
Net operating income % on sales	318.5 12.3%	181.1 8.2%	288.0 10.4%	382.8 10.5%	414.1 10.8%	+8.2%
Result before taxes % on sales	307.7 11.9%	156.0 7.1%	286.8 10.3%	382.2 10.5%	392.0 10.2%	+2.6%
Net Result % on sales	231.3 8.9%	136.5 6.2%	215.5 7.8%	292.8 8.1%	305.0 7.9%	+4.2%

MAIN RATIOS

	2019	2020	2021	2022	2023
Net operating income / sales	12.3%	8.2%	10.4%	10.5%	10.8%
Result before taxes / sales	11.9%	7.1%	10.3%	10.5%	10.2%
Net Investments / sales	8.1%	6.8%	7.6%	7.8%	10.7%
Net financial debt / Equity	24.9%	26.0%	22.9%	25.8%	21.7%
Adjusted net interest expense**/ sales	0.6%	0.8%	0.3%	0.4%	0.5%
Adjusted net interest expense** / net operating income	4.5%	9.4%	3.4%	3.4%	4.9%
R.O.I.	18.1%	9.6%	12.9%	15.5%	16.0%
R.O.E.	17.3%	9.3%	12.0%	15.1%	14.6%

** This item does not include exchange gains and losses.

Last update 03/26/2024

PERSONNEL AND CAPITAL EXPEDITURE

	2019	2020	2021	2022	2023
Employees at year-end (No.)	10,868	11,039	12,225	12,956	13,654
Turnover per employee (euro thousand)	238.5	200.1	227.2	280.1	281.9
Net Investments* (euro million)	210.4	150.2	210.0	282.1	412.2

*Net investments in property, plant, equipment and intangible assets, calculated as the sum
total of increases (net of decreases) of property, plant, equipment and intangible assets.

FINANCIAL RESULTS

(euro million)	2019	2020	2021	2022	2023
Net invested capital	1,758.6	1,891.5	2,231.3	2,472.8	2,590.6
Shareholders' equity	1,388.0	1,481.0	1,796.1	1,947.0	2,099.4
Net financial debt excluding IFRS 16	150.2	175.8	185.3	260.8	283.6
Net financial debt	346.2	384.7	411.8	502.0	454.8

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