Highlights

ECONOMIC RESULTS

(euro million)	2018	2019	2020	2021	2022	% 22/21
Sales of goods and services	2,640.0	2,591.7	2,208.6	2,777.6	3,629.0	+30.7%
Gross operating profit % on sales	500.9 19.0%	515.2 19.9%	388.7 17.6%	502.7 18.1%	625.2 17.2%	+24.4%
Net operating profit % on sales	345.1 13.1%	318.5 12.3%	181.1 8.2%	288.0 10.4%	382.8 10.5%	+32.9%
Profit before taxes % on sales	325.4 12.3%	307.7 11.9%	156.0 7.1%	286.8 10.3%	382.2 10.5%	+33.3%
Net profit % on sales	238.3 9.0%	231.3 8.9%	136.5 6.2%	215.5 7.8%	292.8 8.1%	+35.9%

	2018	2019	2020	2021	2022
Net operating profits/sales	13.1%	12.3%	8.2%	10.4%	10.5%
Income before taxes/sales	12.3%	11.9%	7.1%	10.3%	10.5%
Net Investments**/sales	10.8%	8.1%	6.8%	7.6%	7.8%
Net financial indebtedness/ shareholders' equity	11.1%	24.9%	26.0%	22.9%	25.8%
Financial charges/sales	0.5%	0.6%	0.8%	0.3%	0.4%
Financial charges/net operating margin	4.0%	4.5%	9.4%	3.4%	3.4%
R.O.I.	24.8%*	18.1%	9.6%	12.9%	15.5%
R.O.E.	19.7%	17.3%	9.3%	12.0%	15.1%

* ROI 2018 not comparable after application of IFRS16, starting 1 January 2019.

Last update 31 December 2022

	2018	2019	2020	2021	2022
Employees at year-end (No.)	10,634	10,868	11,039	12,225	12,956
Turnover per employee (euro thousand)	248.3	238.5	200.1	227.2	280.1
Net Investments** (euro million)	285.6	210.4	150.2	210.0	282.1

** Net investment in tangible and intangible assets, calculated as the total of increases
(net of decreases) in tangible and intangible assets.

(euro million)	2018	2019	2020	2021	2022
Net invested capital	1.392,9	1,758.6	1,891.5	2,231.3	2,472.8
Shareholders' equity	1,228.8	1,388.0	1,481.0	1,796.1	1,947.0
Net financial indebtedness excluding IFRS 16	136.9	150.2	175.8	185.3	260.8
Net financial indebtedness	136.9	346.2	384.7	411.8	502.0

Laura Panseri - Head of Investor Relations
Phone: +39 035 6052145