Consolidated Financial Statements of the F.I.L.A. Group
Separate Financial Statements of F.I.L.A. S.p.A.
2
Contents
I - General Information ........................................................................................................................ 4
Corporate Boards ................................................................................................................................ 4
Overview of the F.I.L.A. Group.......................................................................................................... 5
Organisational structure ...................................................................................................................... 6
II - Directors' Report ............................................................................................................................ 8
Economic overview ............................................................................................................................ 8
Key Financial Highlights .................................................................................................................... 9
F.I.L.A Group Key Financial Highlights .......................................................................................... 11
Normalised operating results ........................................................................................................ 11
Business seasonality ...................................................................................................................... 14
Statement of Financial Position .................................................................................................... 15
Financial Overview ....................................................................................................................... 18
Operating segments ........................................................................................................................... 22
Business Segments – Statement of Financial Position .................................................................. 23
Business Segments – Income Statement ....................................................................................... 25
Business Segments – Other Information ....................................................................................... 27
Investments ....................................................................................................................................... 28
Other Information ............................................................................................................................. 29
Management and control ............................................................................................................... 29
Treasury shares ............................................................................................................................. 29
Research and development............................................................................................................ 29
Transactions with Related Parties ................................................................................................. 30
Significant Events in the year ........................................................................................................... 31
Subsequent events ............................................................................................................................. 34
2017 Group Outlook ......................................................................................................................... 34
Going Concern .................................................................................................................................. 34
Risk Management ............................................................................................................................. 35
Environment and Safety .................................................................................................................... 48
Personnel ........................................................................................................................................... 49
Corporate Governance ...................................................................................................................... 51
Reconciliation between Parent and Consolidated Equity and Result ............................................... 52
III Consolidated Financial Statements of the F.I.L.A. Group at December 31, 2016 ................... 55
Consolidated Financial Statements ................................................................................................... 55
Statement of Financial Position .................................................................................................... 55
Statement of Comprehensive Income ........................................................................................... 56
Statement of changes in Equity ..................................................................................................... 57
Consolidated Statement of Cash Flows ........................................................................................ 58
Statement of financial position with indication of transactions with related
parties pursuant to
CONSOB motion No. 15519 of July 27, 2006 ............................................................................. 60
Income statement with indication of transactions with related
parties pursuant to CONSOB
motion No. 15519 of July 27, 2006 .............................................................................................. 61
Explanatory Notes to the Consolidated Financial Statements of the F.I.L.A. Group ....................... 62
Business Combinations ................................................................................................................... 142
Commitments and guarantees ......................................................................................................... 149
Subsequent events ........................................................................................................................... 151
Attachments .................................................................................................................................... 152