Salvatore Ferragamo S p A : 2022ANNUAL REPORT

Board of Directors' report

Consolidated Non-Financial Statement

Consolidated Financial Statements

Separate Financial Statements

Letter from the Chair

4

Letter from the Managing Director and General Manager

6

Board of Directors' report on operations as at 31 December 2022

10

Corporate boards

14

Group structure

16

Composition of the Salvatore Ferragamo Group

17

Main Stock Market indicators - Salvatore Ferragamo S.p.A.

18

1.

The Group's main income and financial results for the year 2022

20

2.

Introduction

22

3.

The Salvatore Ferragamo Group's activities

23

4.

The Group's operating performance

31

5.

Operating performance of the Parent company Salvatore Ferragamo S.p.A.

53

6.

Reconciliation between the Parent company's net profit/(loss)

for the period and shareholders' equity and the consolidated values of the Group

61

7.

Results of Group companies

62

8.

Significant events occurred during the year

63

9.

Information on corporate governance and ownership structure

70

10.

Other information

77

11.

Research and development

80

12.

Transactions with related parties

80

13.

Main risks and uncertainties

81

14.

Significant events occurred after 31 December 2022

88

15.

Macroeconomic situation and outlook

88

16.

Separate Financial Statements as at 31 December 2022 of Salvatore Ferragamo S.p.A. - Proposal for approval

89

17.

Consolidated Non-Financial Statement pursuant to Italian Legislative Decree 254/2016

90

Consolidated Financial Statements as at 31 December 2022

210

Financial Statements

214

Consolidated Statement of Financial Position - Assets

214

Consolidated Statement of Financial Position - Liabilities and Shareholders' Equity

215

Consolidated Income Statement

216

Consolidated Statement of Comprehensive Income

217

Consolidated Statement of Cash Flows

218

Statement of changes in consolidated shareholders' equity

219

Explanatory Notes to the Consolidated Financial Statements

220

Comments on the main statement of financial position items

(assets, shareholders' equity and liabilities)

269

Comments on the main income statement items

296

Other information

306

Disclosure pursuant to art. 149-duodecies of the Issuers' Regulation

321

Statement pursuant to article 154 bis of Leg. Decree no. 58 of 24 February 1998

(Consolidated Law on Finance)

322

Independent Auditor's Report

324

Separate Financial Statements as at 31 December 2022

332

Financial Statements

336

Statement of financial position - assets

336

Statement of financial position - liabilities and shareholders' equity

337

Income statement

338

Statement of comprehensive income

339

Statement of cash flows

340

Statement of changes in shareholders' equity

342

Explanatory Notes to the Separate Financial Statements

343

Comments on the main statement of financial position items

(assets, shareholders' equity and liabilities)

385

Comments on the main income statement items

412

Other information

423

Disclosure pursuant to art. 149-duodecies of the Issuers' Regulation

438

Statement pursuant to article 154 bis of Leg. Decree no. 58 of 24 February 1998

(Consolidated Law on Finance)

439

Report of the Board of Statutory Auditors

440

Independent Auditor's Report

454

Salvatore Ferragamo - Annual Report as at 31 December 2022

3