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"value": "Safilo Group S.p.A.",
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"value": "S.p.A.",
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"value": "Padua, Settima Strada 15",
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"value": "Padua, Settima Strada 15",
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"f0__s7__6__14": {
"value": "These financial statements were approved by the Board of Directors on 11 March 2025.",
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"value": "2.1 ACCOUNTING POLICIESThe accounting policies described here below have been applied for the preparation of the present report and comply with those adopted for the financial report as of 31 December 2023. The new amendments and accounting standards, described below, have not had any significant impacts on this report. The consolidated financial statements are based on the going concern assumption, despite a context still characterized by considerable uncertainty, the Group, taking into account its financial solidity, the actions undertaken to mitigate risks and its business model, believes that there are no elements that may rise any uncertainty on the going concern assumption, in accordance with paragraph 25 of IAS 1.The consolidated financial statements for the year ended 31 December 2024 and 31 December 2023 were prepared in accordance with IFRSs issued by the International Accounting Standard Board (\u201cIASB\u201d) and endorsed by the European Commission, as well as with the measures enacted to implement article 9 of Legislative Decree no. 38/2005. IFRSs include also all the interpretations of the International Financial Reporting Interpretations Commitee (\u201cIFRIC\u201d), previously called Standing Interpretations Commitee (\u201cSIC\u201d).The consolidated financial statements were prepared in accordance with \u201ccost\u201d criteria with the exception of some financial assets and liabilities, including derivative instruments, for which the \u201cfair value\u201d criterion was adopted.Preparation of the annual report in accordance with IFRSs requires management to make estimates and assumptions that may affect the amounts reported in the financial statements and explanatory notes. Actual results may differ from these estimates. The areas of the financial statements that are most affected by such estimates and assumptions are listed in section 2.21 \u201cUse of estimates\u201d.ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRETATIONS EFFECTIVE AS OF 1 JANUARY 2024Except for what is described below about those accounting policies which changed due to new accounting standards and new IFRIC interpretations, in preparing these consolidated financial statements the same accounting principles and criteria of the consolidated financial statements as at 31 December 2023 have been applied. Furthermore, the Group has adopted the following new standards and amendments, effective from 1 January 2024:\u2022 n 23 January 2020, the IASB published an amendment called \u201cAmendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current\u201d. On 31 October 2022 the IASB published an amendment called \u201cAmendments to IAS 1 Presentation of Financial Statements: Non-Current Liabilities with Covenants\u201d. The documents aim to clarify how to classify debts and other short or long-term liabilities;\u2022 n 22 September 2022, the IASB published the amendment to IFRS 16 Lease Liability in a Sale and Leaseback. The document aims to clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale;\u2022 n 25 May 2023 the IASB published amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements. On 23 May 2023, the IASB published the amendments to IAS 12 Income taxes International Tax Reform \u2013 Pillar Two Model Rules. With reference to the Pillar Two Model Rules, effective from 1 January 2024 Safilo Group, as Multinational Group of enterprises that \u2013 together with its indirect reference shareholder HAL Holding N.V. \u2013 meets the Euro 750 million euro annual consolidated revenue threshold in at least two of the four preceding years, falls within the application of the Pillar Two income taxes provided for by the Council Directive (EU) 2022/2523 enacted in Italy by Legislative Decree 209/2023, aimed at ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the European Union. Refer to paragraph \u201c5.8 Income Tax Expense\u201d for further information about the implication to the Group.The Group has complied with the above new amendments in preparing this report, their application had no significant impact on the Group consolidated financial statements.ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRETATIONS ISSUED AND ENDORSED BY THE EUROPEAN UNION BUT NOT EFFECTIVE FOR THE REPORTED PERIOD AND NOT EARLY ADOPTED BY THE GROUPAt the date of this report the following amendments have been endorsed by the European Union applicable to the Group and effective for annual periods beginning on or after 1 January 2025 that have not been early adopted by the Group in preparing this report:\u2022 n 15 August 2023 the IASB published amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability;The Group will comply with these amendments based on their relevant effective dates, and their application is not expected to have any material impact on the Group consolidated financial statements.ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRETATIONS NOT YET COMPLETED AND ENDORSED BY THE EUROPEAN UNION In addition, the European Union has not yet completed its endorsement process for the following standards and amendments at the date of this report:\u2022 n 9 May 2024 the IASB published the new Standard IFRS 19 Subsidiaries without Public Accountability: Disclosures;\u2022 n 9 April 2024 the IASB published the new Standard IFRS 18 Presentation and Disclosure in Financial Statements;\u2022 n 18 December 2024 the IASB published the new amendment Contracts Referencing Nature-dependent Electricity \u2013 Amendments to IFRS 9 and IFRS 7 \u2022 n 18 July 2024 the IASB published the new amendment Annual Improvements Volume 11 \u2022 n 30 May 2024 the IASB published the new amendments to the Classification and Measurement of Financial Instruments \u2013 Amendments to IFRS 9 and IFRS 7The Group will comply with these new standards and amendments based on their relevant effective dates when endorsed by the European Union and it will evaluate their potential impacts on the consolidated financial statements.",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__16": {
"value": "The consolidated financial statements for the year ended 31 December 2024 and 31 December 2023 were prepared in accordance with IFRSs issued by the International Accounting Standard Board (\u201cIASB\u201d) and endorsed by the European Commission, as well as with the measures enacted to implement article 9 of Legislative Decree no. 38/2005. IFRSs include also all the interpretations of the International Financial Reporting Interpretations Commitee (\u201cIFRIC\u201d), previously called Standing Interpretations Commitee (\u201cSIC\u201d).",
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"value": "ACCOUNTING STANDARDS, AMENDMENTS AND INTERPRETATIONS EFFECTIVE AS OF 1 JANUARY 2024Except for what is described below about those accounting policies which changed due to new accounting standards and new IFRIC interpretations, in preparing these consolidated financial statements the same accounting principles and criteria of the consolidated financial statements as at 31 December 2023 have been applied. Furthermore, the Group has adopted the following new standards and amendments, effective from 1 January 2024:\u2022 n 23 January 2020, the IASB published an amendment called \u201cAmendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current\u201d. On 31 October 2022 the IASB published an amendment called \u201cAmendments to IAS 1 Presentation of Financial Statements: Non-Current Liabilities with Covenants\u201d. The documents aim to clarify how to classify debts and other short or long-term liabilities;\u2022 n 22 September 2022, the IASB published the amendment to IFRS 16 Lease Liability in a Sale and Leaseback. The document aims to clarify how a seller-lessee subsequently measures sale and leaseback transactions that satisfy the requirements in IFRS 15 to be accounted for as a sale;\u2022 n 25 May 2023 the IASB published amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements. On 23 May 2023, the IASB published the amendments to IAS 12 Income taxes International Tax Reform \u2013 Pillar Two Model Rules. With reference to the Pillar Two Model Rules, effective from 1 January 2024 Safilo Group, as Multinational Group of enterprises that \u2013 together with its indirect reference shareholder HAL Holding N.V. \u2013 meets the Euro 750 million euro annual consolidated revenue threshold in at least two of the four preceding years, falls within the application of the Pillar Two income taxes provided for by the Council Directive (EU) 2022/2523 enacted in Italy by Legislative Decree 209/2023, aimed at ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the European Union. Refer to paragraph \u201c5.8 Income Tax Expense\u201d for further information about the implication to the Group.The Group has complied with the above new amendments in preparing this report, their application had no significant impact on the Group consolidated financial statements.",
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"value": "Safilo presents the income statement by function (so-called \u201ccost of sales\u201d). This is considered to be more representative with respect to presentation by type of expenses, as it conforms more closely to the internal reporting and business model and is in line with international practice in the eyewear sector.For the balance sheet, a distinction is made in the assets and liabilities between current and non-current as described in paragraphs 60 and following of IAS 1.In compliance with paragraph 85 of IAS 1 some dedicated items have been introduced on the face of the balance sheet and on the income statement to separately disclose the balances related to the financial liability for the options on non-controlling interests of some investments and its related fair value changes to profit and loss:\u2022 Liabilities for options on non-controlling interests\u201d in the sections \u201cCurrent and Non current liabilities\u201d of the statement of the financial position;\u2022 Gains/(losses) on liabilities for options on non-controlling interests\u201d in the section related to the \u201cFinancial income/(charges)\u201d of the income statement;\u2022 Non-monetary changes related to liabilities for options on non-controlling interests\" in the statement of cash flows.",
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"f0__s7__6__19-1": {
"value": "Safilo presents the income statement by function (so-called \u201ccost of sales\u201d). This is considered to be more representative with respect to presentation by type of expenses, as it conforms more closely to the internal reporting and business model and is in line with international practice in the eyewear sector.For the balance sheet, a distinction is made in the assets and liabilities between current and non-current as described in paragraphs 60 and following of IAS 1.In compliance with paragraph 85 of IAS 1 some dedicated items have been introduced on the face of the balance sheet and on the income statement to separately disclose the balances related to the financial liability for the options on non-controlling interests of some investments and its related fair value changes to profit and loss:\u2022 Liabilities for options on non-controlling interests\u201d in the sections \u201cCurrent and Non current liabilities\u201d of the statement of the financial position;\u2022 Gains/(losses) on liabilities for options on non-controlling interests\u201d in the section related to the \u201cFinancial income/(charges)\u201d of the income statement;\u2022 Non-monetary changes related to liabilities for options on non-controlling interests\" in the statement of cash flows.",
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"f0__s7__6__18-1": {
"value": "Safilo presents the income statement by function (so-called \u201ccost of sales\u201d). This is considered to be more representative with respect to presentation by type of expenses, as it conforms more closely to the internal reporting and business model and is in line with international practice in the eyewear sector.For the balance sheet, a distinction is made in the assets and liabilities between current and non-current as described in paragraphs 60 and following of IAS 1.In compliance with paragraph 85 of IAS 1 some dedicated items have been introduced on the face of the balance sheet and on the income statement to separately disclose the balances related to the financial liability for the options on non-controlling interests of some investments and its related fair value changes to profit and loss:\u2022 Liabilities for options on non-controlling interests\u201d in the sections \u201cCurrent and Non current liabilities\u201d of the statement of the financial position;\u2022 Gains/(losses) on liabilities for options on non-controlling interests\u201d in the section related to the \u201cFinancial income/(charges)\u201d of the income statement;\u2022 Non-monetary changes related to liabilities for options on non-controlling interests\" in the statement of cash flows.",
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"f0__s7__6__22": {
"value": "The indirect method for the cash flow statement was used.Therefore, the net profit of the period is adjusted by the effects of non-monetary transactions, changes in working capital and cash flows from investing and financing activities.",
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"f0__s7__6__21-1": {
"value": "The indirect method for the cash flow statement was used.Therefore, the net profit of the period is adjusted by the effects of non-monetary transactions, changes in working capital and cash flows from investing and financing activities.2.3 CONSOLIDATION METHOD AND CONSOLIDATION AREAThe Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss. Upon consolidation, the amounts resulting from intra-group operations between consolidated companies are eliminated, in particular in relation to receivables and payables at the balance sheet date, costs and revenues as well as financial income and charges. In addition, gains and losses between the subsidiary companies that are fully consolidated are also eliminated.The accounting principles adopted by the subsidiary companies have been modified where necessary, to comply with those adopted by the parent company.Non-controlling interests and the amount of net profit attributable to them are shown separately under \u201cNon-controlling interests\u201d and \u201cProfit for the period attributale to non-controlling interests\u201d in the consolidated balance sheet and income statement, respectively. All consolidated subsidiaries close their fiscal year on December 31, with the exception of Safilo India Pvt Ltd. which closes its financial year on 31 March. With reference to the requirements of article 15 of the Market Regulation all these companies have suitable accounting and reporting systems for preparing economic and financial statements and for regularly providing managements and auditors all the financial informations needed by the Parent Company to prepare the consolidated financial statements as of December 31 and perform the audit of the accounts.Investments in associated companiesThe holdings in companies/entities in which a significant influence is exercised (\u201cassociated companies\u201d), that is presumed to exist when the percentage held is between 20% and 50%, are valued under the \u201cequity\u201d method. Due to the application of the equity method, the value of the investment is aligned to the shareholders\u2019 equity that is adjusted, where necessary, to reflect the application of the IFRS approved by the European Commission, and includes the recording of any goodwill identified at the moment of acquisition. The share of gains/losses realized by the associated companies after the acquisition is recorded on the income statement, while the share of movements of reserves after the acquisition is recorded in the equity reserves. When the share of losses of the Group in an associated company is equal to or exceeds its holding in the associated company, taking into account all receivables not guaranteed, the value of the investment is fully written down and the Group does not record further losses above its share, except where the Group has the obligation to cover these losses. Gains and losses not realized that are generated on operations with associated companies are eliminated for the part pertaining to the Group.Investments in other companiesEquity investments in entities in which the Group does not have either control or significant influence, generally with ownership of less than 20%, are originally recorded at fair value. After initial recognition, the investments are measured at fair value. Gains and losses deriving from changes in fair value are recognized through the statement of profit or loss in the period in which they occur.CLASSIFICATION OF FINANCIAL ASSETS AND LIABILITIES The table below shows the financial instruments reported on the balance sheet, according to the analyses requested by IFRS 7, with indication of the valuation criteria applied and, in the case of \u201cfinancial instruments measured at fair value\u201d, the impact on the income statement or the shareholders' equity. If applicable, the last column of the table shows the fair value of the financial instrument.Financial instruments Financial instruments at fair value through(Euro/000) Income Statement Other comprehensive Financial instruments Current value at Fair value at income (OCI)at amortised costDec. 31, 2024Dec. 31, 2024ASSETS Cash in hand and at bank - - 47,421 47,421 47,421Trade receivables, net - - 211,862 211,862 211,862Derivative financial 6,553 - - 6,553 6,553instrumentsInvestments in other 250 - - 250 250companiesOther current assets - - 34,555 34,555 34,555Other non-current assets - - 1,312 1,312 1,312Total assets 6,803 - 295,150 301,953 301,953LIABILITIESBorrowings - - 87,725 87,725 87,725Lease liability - - 42,376 42,376 42,376Derivative financial 1,635 46 - 1,681 1,681instrumentsOther current liabilities - - 47,813 47,813 47,813Liability for options on 13,118 - - 13,118 13,118non-controlling interestsOther non-current liabilities - - 7,535 7,535 7,535Total liabilities 14,753 46 185,448 200,248 200,248Financial instruments Financial instruments at fair value through(Euro/000) Income Statement Other comprehensive Financial instruments Current value at Fair value at income (OCI)at amortised costDec. 31, 2023Dec. 31, 2023ASSETS Cash in hand and at bank - - 74,898 74,898 74,898Trade receivables, net - - 203,075 203,075 203,075Derivative financial 585 271 - 855 855instrumentsOther current assets - - 40,119 40,119 40,119Other non-current assets - - 7,668 7,668 7,668Total assets 585 271 325,760 326,615 326,615LIABILITIESBorrowings - - 118,595 118,595 118,595Lease liability - - 39,002 39,002 39,002Derivative financial 3,909 - - 3,909 3,909instrumentsOther current liabilities - - 40,772 40,772 40,772Liability for options on 20,770 - - 20,770 20,770non-controlling interestsOther non-current liabilities - - 2,653 2,653 2,653Total liabilities 24,680 - 201,023 225,702 225,702HIERARCHICAL LEVELS OF THE FAIR VALUE MEASUREMENT Financial instruments reported in the balance sheet valued at the fair value, according to IFRS 13, are classified in the three-level hierarchy that reflects the significance of the input used in determining the fair value. The three levels of fair value of the hierarchy are:\u2022 evel 1 \u2013 if the instrument is quoted in an active market;\u2022 evel 2 - if the fair value is measured based on valuation techniques for which all significant inputs are based on observable market data, other than quotations of the financial instrument;\u2022 evel 3 \u2013 if the fair value is calculated based on valuation techniques for which any significant input is not based on observable market data.The following table shows the liabilities and assets valued at their fair value at 31 December 2024 and 31 December 2023, split by hierarchical level of the fair value.December 31, 2024 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 6,553 - 6,553Total assets - 6,553 - 6,553Derivative financial instruments - (1,681) - (1,681)Liability for options on non-controlling interests - - (13,118) (13,118)Total liabilities - (1,681) (13,118) (14,799)December 31, 2023 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 855 - 855Total assets - 855 - 855Derivative financial instruments - (3,909) - (3,909)Liability for options on non-controlling interests - - (20,770) (20,770)Total liabilities - (3,909) (20,770) (24,680)In 2024 there have been no transfers from level 1 to level 2 and from level 2 to level 3 and vice versa.",
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},
"f0__s7__6__33": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__32": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__31": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__30": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__29": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__28": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSubordinatedLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__27": {
"value": "The Group\u2019s consolidated financial statements as of 31 December 2024 include the parent company, Safilo Group S.p.A., and 42 subsidiaries accounted for on a line-by-line basis, with the parent company holding, directly or indirectly, the majority of voting rights.During the period the Group\u2019s consolidation area changed as follows:\u2022 n 19 March 2024 the merger of the intermediate holding company Safilo International B.V. into Safilo S.p.A. has been executed, effective from 1 April 2024;\u2022 n 22 May 2024 the Group has increased its controlling stake in Priv\u00e9 Revaux from 88.5% to 88.75%, due to the reassignment of some outstanding shares owned by employees who resigned. On 31 October 2024 the Group has exercised the second tranche of its put and call option increasing its controlling stake to 94.37%.The above changes have not modified the Group's consolidation perimeter.At 31 December 2024 the direct and indirect holdings included in the scope of consolidation under the line-by-line method, in addition to the parent company Safilo Group S.p.A., were the following: Currency Share capital % interest heldITALIAN COMPANIES Safilo S.p.A. \u2013 Padua EUR 66,176,000 100.0Lenti S.r.l. \u2013 Bergamo EUR 500,000 100.0Safilo Industrial S.r.l. - Padua EUR 41,634,703 100.0FOREIGN COMPANIES - - Safilo Benelux S.A. - Zaventem (B) EUR 560,000 100.0Safilo Espana S.L. - Madrid (E) EUR 3,896,370 100.0Safilo France S.a.r.l. - Paris (F) EUR 960,000 100.0Safilo Gmbh - Cologne (D) EUR 511,300 100.0Safilo Nordic AB - Taby (S) SEK 500,000 100.0Safilo CIS - LLC - Moscow (Russia) RUB 10,000,000 100.0Safilo Far East Ltd. - Hong Kong (RC) HKD 49,700,000 100.0Safint Optical Investment Ltd - Hong Kong (RC) HKD 10,000 100.0Safilo Hong-Kong Ltd \u2013 Hong Kong (RC) HKD 100,000 100.0Safilo Singapore Pte Ltd - Singapore (SGP) SGD 400,000 100.0Safilo Optical Sdn Bhd \u2013 Kuala Lumpur (MAL) MYR 100,000 100.0Safilo Eyewear (Shanghai) Co Ltd - (RC) CNY 1,000,000 100.0Safilo Eyewear (Suzhou) Industries Limited - (RC) CNY 129,704,740 100.0 Currency Share capital % interest heldSafilo Hellas Ottica S.a. \u2013 Athens (GR) EUR 489,990 100.0Safilo Nederland B.V. - Bilthoven (NL) EUR 18,200 100.0Safilo South Africa (Pty) Ltd. \u2013 Bryanston (ZA) ZAR 3,583 100.0Safilo Austria Gmbh -Wien (A) EUR 217,582 100.0Safilo Japan Co Ltd - Tokyo (J) JPY 100,000,000 100.0Safilo Do Brasil Ltda \u2013 Sao Paulo (BR) BRL 197,135,000 100.0Safilo Portugal Lda \u2013 Lisbon (P) EUR 500,000 100.0Safilo Switzerland AG \u2013 Zurich (CH) CHF 1,000,000 100.0Safilo Polska sp. z.o.o. - Warsaw (PL) PLN 50,000 100.0Safilo India Pvt. Ltd - Bombay (IND) INR 42,000,000 100.0Safilo Australia Pty Ltd.- Sydney (AUS) AUD 3,000,000 100.0Safilo UK Ltd. - London (GB) GBP 250 100.0Safilo America Inc. - Delaware (USA) USD 8,419 100.0Safilo USA Inc. - New Jersey (USA) USD 23,289 100.0Safilo Services LLC - New Jersey (USA) USD - 100.0Smith Sport Optics Inc. - Idaho (USA) USD 12,087 100.0Solstice Marketing Corp. \u2013 Delaware (USA) USD 1,000 100.0Safilo de Mexico S.A. de C.V. - Distrito Federal (MEX) MXP 10,035,575 100.0Safilo Canada Inc. - Montreal (CAN) CAD 100,000 100.0Canam Sport Eyewear Inc. - Montreal (CAN) CAD 199,975 100.0Safilo Optik Ticaret Limited \u015eirketi - Istanbul (TR) TRL 1,516,000 100.0Safilo Middle East FZE - Dubai (UAE) AED 3,570,000 100.0Priv\u00e8 Goods LLC. - Delaware (USA) USD 19,919,335 94.4Priv\u00e8 Capsules LLC - Delaware (USA) USD - 94.4Blenders Eyewear LLC - Delaware (USA) USD 1,000 80.0PorSa Eyewear (Xiamen) Co Ltd.- (RC) CNY 1,000,000 100.0Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__44": {
"value": "Investments in subsidiariesThe companies in which the Group exercises control (\u201csubsidiary companies\u201d), as defined in IFRS 10, either due to direct shareholdings or by indirectly holding the majority of the voting rights, having the power to determine even indirectly the financial and managerial choices of the companies and thus obtaining the relative benefits regardless of the relationships deriving from the share ownership, are consolidated using the line-by-line method. Potential exercisable voting rights existing at the balance sheet date are considered in order to determine control. The subsidiary companies are consolidated from the date on which control is assumed and are deconsolidated from the date when control ceases.The Group uses the acquisition method of accounting to account for business combinations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred and the equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Acquisition-related costs are expensed as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. On an acquisition-by-acquisition basis, the Group recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree\u2019s net assets. The excess of the consideration transferred, the amount of any non-controlling interest in the acquiree and the acquisition date fair value of any previous equity interest in the acquiree over the fair value of the Group\u2019s share of the identifiable net assets acquired is recorded as goodwill. If this is less than the fair value of the net assets of the subsidiary acquired in the case of a bargain purchase, the difference is recognized directly in the consolidated statement of income.With regards to the accounting for transactions and events that result in a change in the Group\u2019s interest in its subsidiaries and the attribution of a subsidiary\u2019s losses to non-controlling interests, IAS 27 (revised 2008) specifies that once control has been obtained, further transactions whereby the parent entity acquires additional equity interests from non-controlling interests, or disposes of equity interests without losing control are transactions with owners and therefore shall be accounted for as equity transactions. It follows that the carrying amounts of the controlling and non-controlling interests must be adjusted to reflect the changes in their relative interests in the subsidiary and any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognized directly in equity and attributed to the owners of the parent. There is no consequential adjustment to the carrying amount of goodwill and no gain or loss is recognized in profit or loss. Upon consolidation, the amounts resulting from intra-group operations between consolidated companies are eliminated, in particular in relation to receivables and payables at the balance sheet date, costs and revenues as well as financial income and charges. In addition, gains and losses between the subsidiary companies that are fully consolidated are also eliminated.The accounting principles adopted by the subsidiary companies have been modified where necessary, to comply with those adopted by the parent company.Non-controlling interests and the amount of net profit attributable to them are shown separately under \u201cNon-controlling interests\u201d and \u201cProfit for the period attributale to non-controlling interests\u201d in the consolidated balance sheet and income statement, respectively. All consolidated subsidiaries close their fiscal year on December 31, with the exception of Safilo India Pvt Ltd. which closes its financial year on 31 March. With reference to the requirements of article 15 of the Market Regulation all these companies have suitable accounting and reporting systems for preparing economic and financial statements and for regularly providing managements and auditors all the financial informations needed by the Parent Company to prepare the consolidated financial statements as of December 31 and perform the audit of the accounts.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__34": {
"value": "2.4 SEGMENT INFORMATIONInformation according to business sector and geographic area is given pursuant to IFRS 8 \u2013 Operating Segments.The criteria applied for identifying the operating sector are inspired by the methods through which management, at the highest decision-making level, manages the Group and reviews the operating results for the purposes of adopting decisions regarding the resources to be allocated and evaluating of the results themselves. Following the sale of the Group's residual retail business during 2019, information by business sector is provided at the level of the Group as a whole.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__36": {
"value": "2.5 CONVERSION OF FINANCIAL STATEMENTS AND TRANSACTIONS INTO CURRENCIES OTHER THAN EUROForeign currency transactions are converted into the functional currency using the exchange rates prevailing on the date of the transaction. Exchange rate gains and losses resulting from such transactions and from the translation of assets and liabilities in foreign currencies at the exchange rates at end of the year are accounted for in the income statement.The rules for the conversion of financial statements of companies expressed in currencies different from the Euro are the following:\u2022 ssets and liabilities are converted using the exchange rates prevailing on the balance sheet date;\u2022 osts, revenues, income and charges are converted at the average exchange rate of the period;\u2022 the \u201ctranslation difference reserve\u201d includes foreign exchange differences generated from the conversion of the opening shareholders\u2019 equity and the movements during the year at a rate different from that at the end of the year;\u2022 the goodwill and fair value adjustments related to the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate at the end of the period.The exchange rates applied in the conversion of financial statements prepared in currencies other than Euro at 31 December 2024 and 31 December 2023 are detailed in the following table; appreciation (figures with a minus sign in the table below) indicates an increase in the value of the currency against the Euro. As of (Apprec.)/Average for (Apprec.)/Deprec.Deprec.Currency Code December 31, 2024 December 31, 2023 % 2024 2023 %US Dollar USD 1.03891.1050 -6.0% 1.0824 1.08130.1%Hong-Kong Dollar HKD 8.06868.6314 -6.5% 8.4454 8.4650-0.2%Swiss Franc CHF 0.94120.9260 1.6% 0.9526 0.9718-2.0%Canadian Dollar CAD 1.49481.4642 2.1% 1.4821 1.45951.6% As of (Apprec.)/Average for (Apprec.)/Deprec.Deprec.Currency Code December 31, 2024 December 31, 2023 % 2024 2023 %Japanese Yen YEN 163.0600156.3300 4.3% 163.8519 151.99037.8%British Pound GBP 0.82920.8691 -4.6% 0.8466 0.8698-2.7%Swedish Krown SEK 11.459011.0960 3.3% 11.4325 11.4788-0.4%Australian Dollar AUD 1.6772 1.6263 3.1% 1.6397 1.6288 0.7%South-African Rand ZAR 19.6188 20.3477 -3.6% 19.8297 19.9551 -0.6%Russian Ruble RUB 118.0092 99.9723 18.0% 100.4253 92.4381 8.6%Brasilian Real BRL 6.4253 5.3618 19.8% 5.8283 5.4010 7.9%Indian Rupee INR 88.933591.9045 -3.2% 90.5563 89.30011.4%Singapore Dollar SGD 1.4164 1.4591 -2.9% 1.4458 1.4523 -0.4%Malaysian Ringgit MYR 4.64545.0775 -8.5% 4.9503 4.93200.4%Chinese Renminbi CNY 7.58337.8509 -3.4% 7.7875 7.66001.7%Mexican Peso MXN 21.550418.7231 15.1% 19.8314 19.18303.4%Turkish Lira TRY 36.737232.6531 12.5% 35.5734 25.759738.1%Dirham UAE AED 3.81544.0581 -6.0% 3.9750 3.97100.1%Polish Zloty PLN 4.27504.3395 -1.5% 4.3058 4.5420-5.2%",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__35": {
"value": "2.5 CONVERSION OF FINANCIAL STATEMENTS AND TRANSACTIONS INTO CURRENCIES OTHER THAN EUROForeign currency transactions are converted into the functional currency using the exchange rates prevailing on the date of the transaction. Exchange rate gains and losses resulting from such transactions and from the translation of assets and liabilities in foreign currencies at the exchange rates at end of the year are accounted for in the income statement.The rules for the conversion of financial statements of companies expressed in currencies different from the Euro are the following:\u2022 ssets and liabilities are converted using the exchange rates prevailing on the balance sheet date;\u2022 osts, revenues, income and charges are converted at the average exchange rate of the period;\u2022 the \u201ctranslation difference reserve\u201d includes foreign exchange differences generated from the conversion of the opening shareholders\u2019 equity and the movements during the year at a rate different from that at the end of the year;\u2022 the goodwill and fair value adjustments related to the acquisition of a foreign entity are treated as assets and liabilities of the foreign entity and translated at the exchange rate at the end of the period.The exchange rates applied in the conversion of financial statements prepared in currencies other than Euro at 31 December 2024 and 31 December 2023 are detailed in the following table; appreciation (figures with a minus sign in the table below) indicates an increase in the value of the currency against the Euro. As of (Apprec.)/Average for (Apprec.)/Deprec.Deprec.Currency Code December 31, 2024 December 31, 2023 % 2024 2023 %US Dollar USD 1.03891.1050 -6.0% 1.0824 1.08130.1%Hong-Kong Dollar HKD 8.06868.6314 -6.5% 8.4454 8.4650-0.2%Swiss Franc CHF 0.94120.9260 1.6% 0.9526 0.9718-2.0%Canadian Dollar CAD 1.49481.4642 2.1% 1.4821 1.45951.6% As of (Apprec.)/Average for (Apprec.)/Deprec.Deprec.Currency Code December 31, 2024 December 31, 2023 % 2024 2023 %Japanese Yen YEN 163.0600156.3300 4.3% 163.8519 151.99037.8%British Pound GBP 0.82920.8691 -4.6% 0.8466 0.8698-2.7%Swedish Krown SEK 11.459011.0960 3.3% 11.4325 11.4788-0.4%Australian Dollar AUD 1.6772 1.6263 3.1% 1.6397 1.6288 0.7%South-African Rand ZAR 19.6188 20.3477 -3.6% 19.8297 19.9551 -0.6%Russian Ruble RUB 118.0092 99.9723 18.0% 100.4253 92.4381 8.6%Brasilian Real BRL 6.4253 5.3618 19.8% 5.8283 5.4010 7.9%Indian Rupee INR 88.933591.9045 -3.2% 90.5563 89.30011.4%Singapore Dollar SGD 1.4164 1.4591 -2.9% 1.4458 1.4523 -0.4%Malaysian Ringgit MYR 4.64545.0775 -8.5% 4.9503 4.93200.4%Chinese Renminbi CNY 7.58337.8509 -3.4% 7.7875 7.66001.7%Mexican Peso MXN 21.550418.7231 15.1% 19.8314 19.18303.4%Turkish Lira TRY 36.737232.6531 12.5% 35.5734 25.759738.1%Dirham UAE AED 3.81544.0581 -6.0% 3.9750 3.97100.1%Polish Zloty PLN 4.27504.3395 -1.5% 4.3058 4.5420-5.2%",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__40": {
"value": "2.6 TANGIBLE ASSETSTangible fixed assets are assessed at purchase or production cost, net of accumulated depreciation and of any possible loss in value. The cost includes all charges directly incurred in bringing assets to their current location and condition. Costs incurred after purchase of assets are recorded only if they increase the future economic benefits of the asset they refer to.Charges incurred for the maintenance and repairs of ordinary and/or cyclical nature are directly charged to the income statement of the period in which the costs are incurred. The capitalization of costs relating to the expansion, modernization or improvement of proprietary structural assets or of those used by third parties, is made only when they satisfy the requirements to be separately classified as an asset or part of an asset. The book value is adjusted for depreciation on a systematic basis, over the useful life. Capitalized costs for leasehold improvements are attributed to the category of the assets they refer to and are depreciated over the shorter of either the remaining duration of the rental contract or the remaining useful lifetime of the assets improved.When circumstances indicate that there may be a permanent impairment in value, an estimate is made of the recoverable amount of the asset, and any loss is recorded in the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through profit or loss, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization.Depreciation of tangible assets is calculated on a straight-line basis over the estimated useful lifetime of the asset, in accordance with the following depreciation rates:Category Useful lifetime in yearsBuildings 15-40Plant, machinery and equipment 3-15Furniture, office equipment and vehicles 3-8Land is not depreciated.When the asset to be depreciated is composed of separately identifiable elements whose useful lifetime differs significantly from that of the other parts of the asset, the depreciation is made separately for each part of the asset, with the application of the \u201ccomponent approach\u201d principle. The remaining value of the assets and their useful lifetime are reviewed at the end of each financial year. The capital gains or losses from the sale of the fixed assets are posted to the income statement and valued as the difference between the sale proceeds and the net book value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRepairsAndMaintenanceExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__39": {
"value": "2.6 TANGIBLE ASSETSTangible fixed assets are assessed at purchase or production cost, net of accumulated depreciation and of any possible loss in value. The cost includes all charges directly incurred in bringing assets to their current location and condition. Costs incurred after purchase of assets are recorded only if they increase the future economic benefits of the asset they refer to.Charges incurred for the maintenance and repairs of ordinary and/or cyclical nature are directly charged to the income statement of the period in which the costs are incurred. The capitalization of costs relating to the expansion, modernization or improvement of proprietary structural assets or of those used by third parties, is made only when they satisfy the requirements to be separately classified as an asset or part of an asset. The book value is adjusted for depreciation on a systematic basis, over the useful life. Capitalized costs for leasehold improvements are attributed to the category of the assets they refer to and are depreciated over the shorter of either the remaining duration of the rental contract or the remaining useful lifetime of the assets improved.When circumstances indicate that there may be a permanent impairment in value, an estimate is made of the recoverable amount of the asset, and any loss is recorded in the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through profit or loss, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization.Depreciation of tangible assets is calculated on a straight-line basis over the estimated useful lifetime of the asset, in accordance with the following depreciation rates:Category Useful lifetime in yearsBuildings 15-40Plant, machinery and equipment 3-15Furniture, office equipment and vehicles 3-8Land is not depreciated.When the asset to be depreciated is composed of separately identifiable elements whose useful lifetime differs significantly from that of the other parts of the asset, the depreciation is made separately for each part of the asset, with the application of the \u201ccomponent approach\u201d principle. The remaining value of the assets and their useful lifetime are reviewed at the end of each financial year. The capital gains or losses from the sale of the fixed assets are posted to the income statement and valued as the difference between the sale proceeds and the net book value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__38": {
"value": "2.6 TANGIBLE ASSETSTangible fixed assets are assessed at purchase or production cost, net of accumulated depreciation and of any possible loss in value. The cost includes all charges directly incurred in bringing assets to their current location and condition. Costs incurred after purchase of assets are recorded only if they increase the future economic benefits of the asset they refer to.Charges incurred for the maintenance and repairs of ordinary and/or cyclical nature are directly charged to the income statement of the period in which the costs are incurred. The capitalization of costs relating to the expansion, modernization or improvement of proprietary structural assets or of those used by third parties, is made only when they satisfy the requirements to be separately classified as an asset or part of an asset. The book value is adjusted for depreciation on a systematic basis, over the useful life. Capitalized costs for leasehold improvements are attributed to the category of the assets they refer to and are depreciated over the shorter of either the remaining duration of the rental contract or the remaining useful lifetime of the assets improved.When circumstances indicate that there may be a permanent impairment in value, an estimate is made of the recoverable amount of the asset, and any loss is recorded in the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through profit or loss, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization.Depreciation of tangible assets is calculated on a straight-line basis over the estimated useful lifetime of the asset, in accordance with the following depreciation rates:Category Useful lifetime in yearsBuildings 15-40Plant, machinery and equipment 3-15Furniture, office equipment and vehicles 3-8Land is not depreciated.When the asset to be depreciated is composed of separately identifiable elements whose useful lifetime differs significantly from that of the other parts of the asset, the depreciation is made separately for each part of the asset, with the application of the \u201ccomponent approach\u201d principle. The remaining value of the assets and their useful lifetime are reviewed at the end of each financial year. The capital gains or losses from the sale of the fixed assets are posted to the income statement and valued as the difference between the sale proceeds and the net book value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__37": {
"value": "2.6 TANGIBLE ASSETSTangible fixed assets are assessed at purchase or production cost, net of accumulated depreciation and of any possible loss in value. The cost includes all charges directly incurred in bringing assets to their current location and condition. Costs incurred after purchase of assets are recorded only if they increase the future economic benefits of the asset they refer to.Charges incurred for the maintenance and repairs of ordinary and/or cyclical nature are directly charged to the income statement of the period in which the costs are incurred. The capitalization of costs relating to the expansion, modernization or improvement of proprietary structural assets or of those used by third parties, is made only when they satisfy the requirements to be separately classified as an asset or part of an asset. The book value is adjusted for depreciation on a systematic basis, over the useful life. Capitalized costs for leasehold improvements are attributed to the category of the assets they refer to and are depreciated over the shorter of either the remaining duration of the rental contract or the remaining useful lifetime of the assets improved.When circumstances indicate that there may be a permanent impairment in value, an estimate is made of the recoverable amount of the asset, and any loss is recorded in the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through profit or loss, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization.Depreciation of tangible assets is calculated on a straight-line basis over the estimated useful lifetime of the asset, in accordance with the following depreciation rates:Category Useful lifetime in yearsBuildings 15-40Plant, machinery and equipment 3-15Furniture, office equipment and vehicles 3-8Land is not depreciated.When the asset to be depreciated is composed of separately identifiable elements whose useful lifetime differs significantly from that of the other parts of the asset, the depreciation is made separately for each part of the asset, with the application of the \u201ccomponent approach\u201d principle. The remaining value of the assets and their useful lifetime are reviewed at the end of each financial year. The capital gains or losses from the sale of the fixed assets are posted to the income statement and valued as the difference between the sale proceeds and the net book value.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__41": {
"value": "2.7 RIGHT OF USEAssets held through lease contracts (both finance and operating) are recognized according to the IFRS 16 standard, which provide a definition of leases based on the control (right of use) of an asset considering: identification of the asset, right to replace it, right to obtain all economic benefits and the right to manage the use of the asset. The standard establishes a model to recognize and measure lease contracts for the lessee through the posting of the asset (also in operating leases) offset by a financial debt. Assets held through lease contracts, are recognized as assets of the Group at the present value of their contractual lease payments. The corresponding liability due to the lessor is recorded on the financial statements under financial debts. The assets are depreciated over the duration of the lease contract. The Group has elected to apply the exemptions stated by the Standard that allow to keep leases off balance if they have an initial contractual duration of less than or equal to 12 months (IFRS16.5-a) or if they refer to a low-value asset (IFRS16.5-b), according to these exemptions these contracts are still recorded as lease and rent expenses on a straight-line basis in the income statement over the duration of the lease contract.Management considered the clarifications included in the \u201cIFRIC Agenda Decision\u201d of November 2019 relating to the determination of the lease term. In particular, it was considered that:\u2022 the buildings in which the manufacturing plants are located are all owned by the Group;\u2022 the contracts for the properties in which the main office locations and logistic centers are located were recently signed and have a residual duration which is still significant;\u2022 the contracts relating to the properties in which the office locations of lesser importance are located have characteristics for which their abandonment would not entail a \u201cmore than insignificant penalty\u201d.These considerations led to the confirmation of the lease terms previously identified on the basis of the remaining contractual durations.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__43": {
"value": "Intangible assets consist of clearly identifiable non-monetary assets, without any physical substance and capable of generating future economic benefits. These assets are recognized at purchase and/or production cost, including the costs of bringing the asset to its current use, net of accumulated amortization and any impairment. Amortization begins when the asset is available for use and is allocated in equal instalments over the course of its useful life.When circumstances indicate that there may be an impairment loss, an estimate is made of the recoverable amount of the asset, and any impairment is recognized through the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through the income statement, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization, except for impairment losses on goodwill.GoodwillGoodwill is measured as the excess of the aggregate of the consideration transferred in the business combination, the amount of any non-controlling interest in the acquiree and the fair value of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. Non-controlling interest is initially measured either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree's identifiable net assets. The selection of the measurement method is made on a transaction-by transaction basis. Goodwill is not amortised but is tested for impairment at least once a year or whenever there are any impairment indicators. After initial recognition, goodwill is valued at cost, net of any accumulated impairment. An impairment loss with respect to goodwill may not be reversed.When a company or a business unit previously purchased is sold and that acquisition led to goodwill, in measuring the gain or loss on the sale, consideration is given to the corresponding residual value of goodwill.Goodwill and fair value adjustments generated from the acquisition of a foreign company are recorded in the relative foreign currencies and are converted at the exchange rate at the end of the period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__42": {
"value": "Intangible assets consist of clearly identifiable non-monetary assets, without any physical substance and capable of generating future economic benefits. These assets are recognized at purchase and/or production cost, including the costs of bringing the asset to its current use, net of accumulated amortization and any impairment. Amortization begins when the asset is available for use and is allocated in equal instalments over the course of its useful life.When circumstances indicate that there may be an impairment loss, an estimate is made of the recoverable amount of the asset, and any impairment is recognized through the income statement. When the reasons for the previously recognized impairment no longer exist, the book value of the asset is restated through the income statement, up to the value at which the asset would have been recognized in the absence of impairment and net of amortization, except for impairment losses on goodwill.GoodwillGoodwill is measured as the excess of the aggregate of the consideration transferred in the business combination, the amount of any non-controlling interest in the acquiree and the fair value of the acquirer's previously held equity interest in the acquiree (if any) over the net of the acquisition-date amounts of the identifiable assets acquired and the liabilities assumed. If the net of the acquisition-date amounts of the identifiable assets acquired and liabilities assumed exceeds the aggregate of the consideration transferred, the amount of any non-controlling interest in the acquiree and the fair value of the acquirer's previously held interest in the acquiree (if any), the excess is recognized immediately in profit or loss as a bargain purchase gain. Non-controlling interest is initially measured either at fair value or at the non-controlling interest\u2019s proportionate share of the acquiree's identifiable net assets. The selection of the measurement method is made on a transaction-by transaction basis. Goodwill is not amortised but is tested for impairment at least once a year or whenever there are any impairment indicators. After initial recognition, goodwill is valued at cost, net of any accumulated impairment. An impairment loss with respect to goodwill may not be reversed.When a company or a business unit previously purchased is sold and that acquisition led to goodwill, in measuring the gain or loss on the sale, consideration is given to the corresponding residual value of goodwill.Goodwill and fair value adjustments generated from the acquisition of a foreign company are recorded in the relative foreign currencies and are converted at the exchange rate at the end of the period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__45": {
"value": "Trademarks are recorded at cost. They have a definite useful lifetime and are recorded at cost net of any accumulated amortization. Amortization is calculated on a straight-line basis allocating the cost of trademarks over the relative useful lifetime generally between 15 and 20 years, determined on the basis of independent analyzes and market benchmarks. The useful life and residual value are reviewed at each end of the period. If necessary, the occurrence of changes in the useful life or residual value is recognized prospectively as a change in accounting estimates. The item includes also the perpetual license for the use of the David Beckham Eyewear trademark, the related right of use is considered to have a definite useful lifetime and amortized according to its estimated useful life.SoftwareAll software licenses purchased are capitalized on the basis of the costs incurred for their acquisition and in bringing them to their current condition. Amortization is calculated on a straight-line basis over their estimated useful lifetime (between 3 to 5 years). The costs associated with the development and maintenance of software programs are posted to the income statement of the period in which they were incurred. The costs directly associated with the production of unique and identifiable software products controlled by the Group are recorded as intangible fixed assets on the balance sheet only if the following conditions are respected: the costs can be reliably calculated, the Group has the technical and financial resources to complete the products and intends to conclude such activities, the technical feasibility of the products is guaranteed and the use of the products will generate probable future economic benefits for more than one year. Direct costs include costs relating to employees developing the software as well as any appropriate share of general costs.Software as a service (\u2018SaaS\u2019) arrangementsFollowing the IFRIC\u2019s agenda decision guidance published in April 2021 related to the capitalization of costs of configuring or customizing software applications under \u2018Software as a Service\u2019 (\u2018SaaS\u2019) arrangements, the Group, starting from the 2021 Annual Report, has changed its accounting policy related to the capitalization of these costs. For those software as a service arrangements (SaaS) where the Group does not have control of the developed software, the costs of configuring or customizing software applications under SaaS are not capitalized as intangible assets but posted to income statement in the operating expenses.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__48": {
"value": "2.9 IMPAIRMENT OF NON\ue61bFINANCIAL ASSETSAssets with an indefinite useful life are not subject to amortization but undergo an impairment test at least on an annual basis to monitor whether their book value has been reduced.Assets subject to amortization undergo impairment tests when events or circumstances arise that indicate that the book value cannot be recovered. In both cases any loss in value is posted for the share of book value exceeding the recoverable value. This value is the higher of either the fair value of the asset net of the costs for sale or its value for use. If the value in use of an asset cannot be established individually, the recoverable value of the unit that generates cash flows (so-called \"cash generating unit\u201d or CGU) to which the asset belongs must be established. Assets are grouped at the level of the cash generating units (CGU) that are the base for interpreting the Group performance. The Group then discounts to present value the future estimated cash flows generated by these CGUs by applying a discount rate that reflects the current time value for money and the specific risks associated with the business. When a loss on an asset, other than goodwill, no longer exists or is reduced, the book value of the asset or cash-generating unit is increased to the new estimated recoverable value, which cannot exceed the value that would have been established if there had been no loss due to reduction in value.A reversal of loss in value is calculated according to the revaluation model and recorded in the income statement in accordance with the provisions of IAS 16.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognisingDifferenceBetweenFairValueAtInitialRecognitionAndAmountDeterminedUsingValuationTechniqueExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__47": {
"value": "2.9 IMPAIRMENT OF NON\ue61bFINANCIAL ASSETSAssets with an indefinite useful life are not subject to amortization but undergo an impairment test at least on an annual basis to monitor whether their book value has been reduced.Assets subject to amortization undergo impairment tests when events or circumstances arise that indicate that the book value cannot be recovered. In both cases any loss in value is posted for the share of book value exceeding the recoverable value. This value is the higher of either the fair value of the asset net of the costs for sale or its value for use. If the value in use of an asset cannot be established individually, the recoverable value of the unit that generates cash flows (so-called \"cash generating unit\u201d or CGU) to which the asset belongs must be established. Assets are grouped at the level of the cash generating units (CGU) that are the base for interpreting the Group performance. The Group then discounts to present value the future estimated cash flows generated by these CGUs by applying a discount rate that reflects the current time value for money and the specific risks associated with the business. When a loss on an asset, other than goodwill, no longer exists or is reduced, the book value of the asset or cash-generating unit is increased to the new estimated recoverable value, which cannot exceed the value that would have been established if there had been no loss due to reduction in value.A reversal of loss in value is calculated according to the revaluation model and recorded in the income statement in accordance with the provisions of IAS 16.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__46": {
"value": "2.9 IMPAIRMENT OF NON\ue61bFINANCIAL ASSETSAssets with an indefinite useful life are not subject to amortization but undergo an impairment test at least on an annual basis to monitor whether their book value has been reduced.Assets subject to amortization undergo impairment tests when events or circumstances arise that indicate that the book value cannot be recovered. In both cases any loss in value is posted for the share of book value exceeding the recoverable value. This value is the higher of either the fair value of the asset net of the costs for sale or its value for use. If the value in use of an asset cannot be established individually, the recoverable value of the unit that generates cash flows (so-called \"cash generating unit\u201d or CGU) to which the asset belongs must be established. Assets are grouped at the level of the cash generating units (CGU) that are the base for interpreting the Group performance. The Group then discounts to present value the future estimated cash flows generated by these CGUs by applying a discount rate that reflects the current time value for money and the specific risks associated with the business. When a loss on an asset, other than goodwill, no longer exists or is reduced, the book value of the asset or cash-generating unit is increased to the new estimated recoverable value, which cannot exceed the value that would have been established if there had been no loss due to reduction in value.A reversal of loss in value is calculated according to the revaluation model and recorded in the income statement in accordance with the provisions of IAS 16.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__49": {
"value": "2.10 FINANCIAL INSTRUMENTSAll the financial assets recognized that fall within the scope of application of IFRS 9 must subsequently be recognized at amortized cost or at fair value on the basis of the entity's business model for the management of financial assets and characteristics relating to contractual cash flows of the financial activity.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__54": {
"value": "Specifically:\u2022 ebt instruments held in the context of a business model whose objective is the possession of financial assets aimed at collecting contractual cash flows, and which have cash flows represented solely by capital payments and interest on the principal amount to be returned, are subsequently valued at amortized cost;\u2022 ebt instruments held in the context of a business model whose objective is achieved both through the collection of contractual cash flows and through the sale of financial assets, and which have cash flows represented solely by capital payments and interest on amount of the capital to be repaid, are subsequently measured at fair value with changes recorded in the other components of the comprehensive income statement (FVTOCI);\u2022 ll other debt instruments, including the liability for options on non-controlling interests, and investments in equity instruments are subsequently measured at fair value, with changes recognized in profit (loss) for the year (FVTPL).Notwithstanding the foregoing, the Group may make the following irrevocable selection/designation upon initial recognition of a financial asset:\u2022 he Group may make an irrevocable choice to present subsequent changes in the fair value of an investment in equity instruments that are neither held for trading nor a potential consideration recognized by a purchaser in a business combination transaction in the other components of the comprehensive income statement;\u2022 he Group may irrevocably designate an investment in debt instruments that meets the amortized cost or FVTOCI criteria as measured at fair value, with changes recognized in profit (loss) for the year (FVTPL) if this eliminates or reduces significantly an accounting asymmetry.During the current year, the Group has not designated any investments in debt instruments that meet the amortized cost or FVTOCI criteria as measured at fair value recorded in profit (loss) for the year.When an investment in a debt instrument measured as FVTOCI is eliminated, the cumulative gain (loss) previously recognized under the other components of the comprehensive income statement is reclassified from equity to profit (loss) for the year through a correction from reclassification. On the other hand, when an investment in a representative instrument of capital designated as valued FVTOCI is eliminated, the cumulative gain (loss) previously recognized among the other components of the comprehensive income statement is subsequently transferred to retained earnings without passing through the income statement. Debt instruments subsequently valued at amortized cost or FVTOCI are subject to impairment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__53-1": {
"value": "Specifically:\u2022 ebt instruments held in the context of a business model whose objective is the possession of financial assets aimed at collecting contractual cash flows, and which have cash flows represented solely by capital payments and interest on the principal amount to be returned, are subsequently valued at amortized cost;\u2022 ebt instruments held in the context of a business model whose objective is achieved both through the collection of contractual cash flows and through the sale of financial assets, and which have cash flows represented solely by capital payments and interest on amount of the capital to be repaid, are subsequently measured at fair value with changes recorded in the other components of the comprehensive income statement (FVTOCI);\u2022 ll other debt instruments, including the liability for options on non-controlling interests, and investments in equity instruments are subsequently measured at fair value, with changes recognized in profit (loss) for the year (FVTPL).Notwithstanding the foregoing, the Group may make the following irrevocable selection/designation upon initial recognition of a financial asset:\u2022 he Group may make an irrevocable choice to present subsequent changes in the fair value of an investment in equity instruments that are neither held for trading nor a potential consideration recognized by a purchaser in a business combination transaction in the other components of the comprehensive income statement;\u2022 he Group may irrevocably designate an investment in debt instruments that meets the amortized cost or FVTOCI criteria as measured at fair value, with changes recognized in profit (loss) for the year (FVTPL) if this eliminates or reduces significantly an accounting asymmetry.During the current year, the Group has not designated any investments in debt instruments that meet the amortized cost or FVTOCI criteria as measured at fair value recorded in profit (loss) for the year.When an investment in a debt instrument measured as FVTOCI is eliminated, the cumulative gain (loss) previously recognized under the other components of the comprehensive income statement is reclassified from equity to profit (loss) for the year through a correction from reclassification. On the other hand, when an investment in a representative instrument of capital designated as valued FVTOCI is eliminated, the cumulative gain (loss) previously recognized among the other components of the comprehensive income statement is subsequently transferred to retained earnings without passing through the income statement. Debt instruments subsequently valued at amortized cost or FVTOCI are subject to impairment.Derivative instrumentsAll derivative financial instruments are measured at fair value, in accordance with IFRS 9. When the financial instruments possess the characteristics required to be recorded according to hedge accounting, the following accounting procedures are applied:\u2022 air value hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the current value of an asset or liability on the financial statements attributable to a specific risk that can determine effects on the income statement, the profit or loss after the initial valuation of the fair value of the hedge instruments is recognized in the income statement. The profit or loss on the hedged item, related to the hedged risk, changes the book value of that item and is recognized in the income statement. \u2022 ash flow hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the cash flows of an asset or liability recorded on the financial statements or of an operation considered highly probable and which may have effects on the income statement, the effective portion of the profits or losses of the financial instrument is recognized in an equity reserve. The cumulative profits or losses are reversed from equity and recorded in the income statement in the same period as the operation that is hedged. The profits or losses associated with a hedge or with that part of the hedge that has become ineffective, are immediately recorded in the income statement. If a hedge instrument or a relation of a hedge is closed, but the hedged operation has not yet been realized, the cumulative profits and losses, up to that moment recorded in equity, are recognized in the income statement when the relative operation is realized. If the operation hedged is no longer considered probable, the profits or losses not yet realized in equity are recognized immediately in the income statement.IFRS 9 requires that the expenses and income deriving from hedges are recognized as an adjustment to the initial carrying amount of the non-financial elements hedged (basis adjustment). In addition, transfers from the hedging reserve to the initial carrying amount of the hedged item are not reclassified adjustments based on IAS 1 Presentation of Financial Statements. The hedging income and losses subject to the basis adjustment are categorized as amounts that will not subsequently be reclassified to profit or loss or to the other elements of the comprehensive income statement. This is consistent with the practice of the Group prior to the adoption of IFRS 9.In line with previous years, when a forward contract is used in a cash flow hedge or fair value hedge relationship, the Group has designated the change in fair value of the entire forward contract, including the forward points, as a hedging instrument.When option contracts are used to hedge highly probable scheduled transactions, the Group only designates the intrinsic value of the options as a hedging instrument. Based on IFRS 9, changes in the time value of options relating to the hedged item are recognized in the other elements of the comprehensive income statement and are accumulated in the equity reserve. The amounts accumulated in equity are either reclassified to profit or loss for the period when the hedged item influences the profit (loss) for the period or removed directly from equity and included in the carrying amount of the non-financial item. IFRS 9 requires that the accounting treatment related to the unspecified time value of an option be applied retrospectively.If hedge accounting cannot be applied, the profits or losses deriving from the fair value of the derivative financial instruments are immediately recognized in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__52-1": {
"value": "Specifically:\u2022 ebt instruments held in the context of a business model whose objective is the possession of financial assets aimed at collecting contractual cash flows, and which have cash flows represented solely by capital payments and interest on the principal amount to be returned, are subsequently valued at amortized cost;\u2022 ebt instruments held in the context of a business model whose objective is achieved both through the collection of contractual cash flows and through the sale of financial assets, and which have cash flows represented solely by capital payments and interest on amount of the capital to be repaid, are subsequently measured at fair value with changes recorded in the other components of the comprehensive income statement (FVTOCI);\u2022 ll other debt instruments, including the liability for options on non-controlling interests, and investments in equity instruments are subsequently measured at fair value, with changes recognized in profit (loss) for the year (FVTPL).Notwithstanding the foregoing, the Group may make the following irrevocable selection/designation upon initial recognition of a financial asset:\u2022 he Group may make an irrevocable choice to present subsequent changes in the fair value of an investment in equity instruments that are neither held for trading nor a potential consideration recognized by a purchaser in a business combination transaction in the other components of the comprehensive income statement;\u2022 he Group may irrevocably designate an investment in debt instruments that meets the amortized cost or FVTOCI criteria as measured at fair value, with changes recognized in profit (loss) for the year (FVTPL) if this eliminates or reduces significantly an accounting asymmetry.During the current year, the Group has not designated any investments in debt instruments that meet the amortized cost or FVTOCI criteria as measured at fair value recorded in profit (loss) for the year.When an investment in a debt instrument measured as FVTOCI is eliminated, the cumulative gain (loss) previously recognized under the other components of the comprehensive income statement is reclassified from equity to profit (loss) for the year through a correction from reclassification. On the other hand, when an investment in a representative instrument of capital designated as valued FVTOCI is eliminated, the cumulative gain (loss) previously recognized among the other components of the comprehensive income statement is subsequently transferred to retained earnings without passing through the income statement. Debt instruments subsequently valued at amortized cost or FVTOCI are subject to impairment.Derivative instrumentsAll derivative financial instruments are measured at fair value, in accordance with IFRS 9. When the financial instruments possess the characteristics required to be recorded according to hedge accounting, the following accounting procedures are applied:\u2022 air value hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the current value of an asset or liability on the financial statements attributable to a specific risk that can determine effects on the income statement, the profit or loss after the initial valuation of the fair value of the hedge instruments is recognized in the income statement. The profit or loss on the hedged item, related to the hedged risk, changes the book value of that item and is recognized in the income statement. \u2022 ash flow hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the cash flows of an asset or liability recorded on the financial statements or of an operation considered highly probable and which may have effects on the income statement, the effective portion of the profits or losses of the financial instrument is recognized in an equity reserve. The cumulative profits or losses are reversed from equity and recorded in the income statement in the same period as the operation that is hedged. The profits or losses associated with a hedge or with that part of the hedge that has become ineffective, are immediately recorded in the income statement. If a hedge instrument or a relation of a hedge is closed, but the hedged operation has not yet been realized, the cumulative profits and losses, up to that moment recorded in equity, are recognized in the income statement when the relative operation is realized. If the operation hedged is no longer considered probable, the profits or losses not yet realized in equity are recognized immediately in the income statement.IFRS 9 requires that the expenses and income deriving from hedges are recognized as an adjustment to the initial carrying amount of the non-financial elements hedged (basis adjustment). In addition, transfers from the hedging reserve to the initial carrying amount of the hedged item are not reclassified adjustments based on IAS 1 Presentation of Financial Statements. The hedging income and losses subject to the basis adjustment are categorized as amounts that will not subsequently be reclassified to profit or loss or to the other elements of the comprehensive income statement. This is consistent with the practice of the Group prior to the adoption of IFRS 9.In line with previous years, when a forward contract is used in a cash flow hedge or fair value hedge relationship, the Group has designated the change in fair value of the entire forward contract, including the forward points, as a hedging instrument.When option contracts are used to hedge highly probable scheduled transactions, the Group only designates the intrinsic value of the options as a hedging instrument. Based on IFRS 9, changes in the time value of options relating to the hedged item are recognized in the other elements of the comprehensive income statement and are accumulated in the equity reserve. The amounts accumulated in equity are either reclassified to profit or loss for the period when the hedged item influences the profit (loss) for the period or removed directly from equity and included in the carrying amount of the non-financial item. IFRS 9 requires that the accounting treatment related to the unspecified time value of an option be applied retrospectively.If hedge accounting cannot be applied, the profits or losses deriving from the fair value of the derivative financial instruments are immediately recognized in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__51": {
"value": "Specifically:\u2022 ebt instruments held in the context of a business model whose objective is the possession of financial assets aimed at collecting contractual cash flows, and which have cash flows represented solely by capital payments and interest on the principal amount to be returned, are subsequently valued at amortized cost;\u2022 ebt instruments held in the context of a business model whose objective is achieved both through the collection of contractual cash flows and through the sale of financial assets, and which have cash flows represented solely by capital payments and interest on amount of the capital to be repaid, are subsequently measured at fair value with changes recorded in the other components of the comprehensive income statement (FVTOCI);\u2022 ll other debt instruments, including the liability for options on non-controlling interests, and investments in equity instruments are subsequently measured at fair value, with changes recognized in profit (loss) for the year (FVTPL).Notwithstanding the foregoing, the Group may make the following irrevocable selection/designation upon initial recognition of a financial asset:\u2022 he Group may make an irrevocable choice to present subsequent changes in the fair value of an investment in equity instruments that are neither held for trading nor a potential consideration recognized by a purchaser in a business combination transaction in the other components of the comprehensive income statement;\u2022 he Group may irrevocably designate an investment in debt instruments that meets the amortized cost or FVTOCI criteria as measured at fair value, with changes recognized in profit (loss) for the year (FVTPL) if this eliminates or reduces significantly an accounting asymmetry.During the current year, the Group has not designated any investments in debt instruments that meet the amortized cost or FVTOCI criteria as measured at fair value recorded in profit (loss) for the year.When an investment in a debt instrument measured as FVTOCI is eliminated, the cumulative gain (loss) previously recognized under the other components of the comprehensive income statement is reclassified from equity to profit (loss) for the year through a correction from reclassification. On the other hand, when an investment in a representative instrument of capital designated as valued FVTOCI is eliminated, the cumulative gain (loss) previously recognized among the other components of the comprehensive income statement is subsequently transferred to retained earnings without passing through the income statement. Debt instruments subsequently valued at amortized cost or FVTOCI are subject to impairment.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__50": {
"value": "Specifically:\u2022 ebt instruments held in the context of a business model whose objective is the possession of financial assets aimed at collecting contractual cash flows, and which have cash flows represented solely by capital payments and interest on the principal amount to be returned, are subsequently valued at amortized cost;\u2022 ebt instruments held in the context of a business model whose objective is achieved both through the collection of contractual cash flows and through the sale of financial assets, and which have cash flows represented solely by capital payments and interest on amount of the capital to be repaid, are subsequently measured at fair value with changes recorded in the other components of the comprehensive income statement (FVTOCI);\u2022 ll other debt instruments, including the liability for options on non-controlling interests, and investments in equity instruments are subsequently measured at fair value, with changes recognized in profit (loss) for the year (FVTPL).Notwithstanding the foregoing, the Group may make the following irrevocable selection/designation upon initial recognition of a financial asset:\u2022 he Group may make an irrevocable choice to present subsequent changes in the fair value of an investment in equity instruments that are neither held for trading nor a potential consideration recognized by a purchaser in a business combination transaction in the other components of the comprehensive income statement;\u2022 he Group may irrevocably designate an investment in debt instruments that meets the amortized cost or FVTOCI criteria as measured at fair value, with changes recognized in profit (loss) for the year (FVTPL) if this eliminates or reduces significantly an accounting asymmetry.During the current year, the Group has not designated any investments in debt instruments that meet the amortized cost or FVTOCI criteria as measured at fair value recorded in profit (loss) for the year.When an investment in a debt instrument measured as FVTOCI is eliminated, the cumulative gain (loss) previously recognized under the other components of the comprehensive income statement is reclassified from equity to profit (loss) for the year through a correction from reclassification. On the other hand, when an investment in a representative instrument of capital designated as valued FVTOCI is eliminated, the cumulative gain (loss) previously recognized among the other components of the comprehensive income statement is subsequently transferred to retained earnings without passing through the income statement. Debt instruments subsequently valued at amortized cost or FVTOCI are subject to impairment.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__58": {
"value": "IFRS 9 introduced the classification and measurement of financial liabilities with reference to the recognition of fair value changes attributable to changes in the credit risk of the issuer, for financial liabilities designated by the Group as FVTPL. In particular, IFRS 9 requires that changes in the fair value of financial liabilities that are attributable to changes in the credit risk of these liabilities are presented in the other components of the comprehensive income statement, unless the recognition in the other components of the comprehensive income statement do not originate or increase an accounting asymmetry in profit (loss) for the year. Changes in fair value attributable to the credit risk of a financial liability are not subsequently reclassified to profit (loss) for the year but are instead transferred to retained earnings when the liability is de-recognized.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__57": {
"value": "IFRS 9 introduced the classification and measurement of financial liabilities with reference to the recognition of fair value changes attributable to changes in the credit risk of the issuer, for financial liabilities designated by the Group as FVTPL. In particular, IFRS 9 requires that changes in the fair value of financial liabilities that are attributable to changes in the credit risk of these liabilities are presented in the other components of the comprehensive income statement, unless the recognition in the other components of the comprehensive income statement do not originate or increase an accounting asymmetry in profit (loss) for the year. Changes in fair value attributable to the credit risk of a financial liability are not subsequently reclassified to profit (loss) for the year but are instead transferred to retained earnings when the liability is de-recognized.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__56": {
"value": "IFRS 9 introduced the classification and measurement of financial liabilities with reference to the recognition of fair value changes attributable to changes in the credit risk of the issuer, for financial liabilities designated by the Group as FVTPL. In particular, IFRS 9 requires that changes in the fair value of financial liabilities that are attributable to changes in the credit risk of these liabilities are presented in the other components of the comprehensive income statement, unless the recognition in the other components of the comprehensive income statement do not originate or increase an accounting asymmetry in profit (loss) for the year. Changes in fair value attributable to the credit risk of a financial liability are not subsequently reclassified to profit (loss) for the year but are instead transferred to retained earnings when the liability is de-recognized.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__55": {
"value": "IFRS 9 introduced the classification and measurement of financial liabilities with reference to the recognition of fair value changes attributable to changes in the credit risk of the issuer, for financial liabilities designated by the Group as FVTPL. In particular, IFRS 9 requires that changes in the fair value of financial liabilities that are attributable to changes in the credit risk of these liabilities are presented in the other components of the comprehensive income statement, unless the recognition in the other components of the comprehensive income statement do not originate or increase an accounting asymmetry in profit (loss) for the year. Changes in fair value attributable to the credit risk of a financial liability are not subsequently reclassified to profit (loss) for the year but are instead transferred to retained earnings when the liability is de-recognized.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__60": {
"value": "Borrowings are initially recognized at fair value less any transaction costs. After initial recognition, they are recognized at amortized cost; all differences between the amount financed (net of initial transaction costs) and the face value are recognized in profit or loss over the duration of the loan using the effective interest method. If there is a significant variation in the expected cash flow that can be reliably estimated by management, the value of the loans is recalculated to reflect the expected change in the cash flow. The value of the loans is recalculated on the basis of the discounted value of the new expected cash flow and the internal rate of return. Borrowings are classified under current liabilities unless the company has an unconditional right to defer the payment for at least twelve months after the balance sheet date, and are removed from the balance sheet when they expire and the Group has transferred all risks and obligations relating to the instrument.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__59": {
"value": "Borrowings are initially recognized at fair value less any transaction costs. After initial recognition, they are recognized at amortized cost; all differences between the amount financed (net of initial transaction costs) and the face value are recognized in profit or loss over the duration of the loan using the effective interest method. If there is a significant variation in the expected cash flow that can be reliably estimated by management, the value of the loans is recalculated to reflect the expected change in the cash flow. The value of the loans is recalculated on the basis of the discounted value of the new expected cash flow and the internal rate of return. Borrowings are classified under current liabilities unless the company has an unconditional right to defer the payment for at least twelve months after the balance sheet date, and are removed from the balance sheet when they expire and the Group has transferred all risks and obligations relating to the instrument.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__62": {
"value": "Derivative instrumentsAll derivative financial instruments are measured at fair value, in accordance with IFRS 9. When the financial instruments possess the characteristics required to be recorded according to hedge accounting, the following accounting procedures are applied:\u2022 air value hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the current value of an asset or liability on the financial statements attributable to a specific risk that can determine effects on the income statement, the profit or loss after the initial valuation of the fair value of the hedge instruments is recognized in the income statement. The profit or loss on the hedged item, related to the hedged risk, changes the book value of that item and is recognized in the income statement. \u2022 ash flow hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the cash flows of an asset or liability recorded on the financial statements or of an operation considered highly probable and which may have effects on the income statement, the effective portion of the profits or losses of the financial instrument is recognized in an equity reserve. The cumulative profits or losses are reversed from equity and recorded in the income statement in the same period as the operation that is hedged. The profits or losses associated with a hedge or with that part of the hedge that has become ineffective, are immediately recorded in the income statement. If a hedge instrument or a relation of a hedge is closed, but the hedged operation has not yet been realized, the cumulative profits and losses, up to that moment recorded in equity, are recognized in the income statement when the relative operation is realized. If the operation hedged is no longer considered probable, the profits or losses not yet realized in equity are recognized immediately in the income statement.IFRS 9 requires that the expenses and income deriving from hedges are recognized as an adjustment to the initial carrying amount of the non-financial elements hedged (basis adjustment). In addition, transfers from the hedging reserve to the initial carrying amount of the hedged item are not reclassified adjustments based on IAS 1 Presentation of Financial Statements. The hedging income and losses subject to the basis adjustment are categorized as amounts that will not subsequently be reclassified to profit or loss or to the other elements of the comprehensive income statement. This is consistent with the practice of the Group prior to the adoption of IFRS 9.In line with previous years, when a forward contract is used in a cash flow hedge or fair value hedge relationship, the Group has designated the change in fair value of the entire forward contract, including the forward points, as a hedging instrument.When option contracts are used to hedge highly probable scheduled transactions, the Group only designates the intrinsic value of the options as a hedging instrument. Based on IFRS 9, changes in the time value of options relating to the hedged item are recognized in the other elements of the comprehensive income statement and are accumulated in the equity reserve. The amounts accumulated in equity are either reclassified to profit or loss for the period when the hedged item influences the profit (loss) for the period or removed directly from equity and included in the carrying amount of the non-financial item. IFRS 9 requires that the accounting treatment related to the unspecified time value of an option be applied retrospectively.If hedge accounting cannot be applied, the profits or losses deriving from the fair value of the derivative financial instruments are immediately recognized in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__61": {
"value": "Derivative instrumentsAll derivative financial instruments are measured at fair value, in accordance with IFRS 9. When the financial instruments possess the characteristics required to be recorded according to hedge accounting, the following accounting procedures are applied:\u2022 air value hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the current value of an asset or liability on the financial statements attributable to a specific risk that can determine effects on the income statement, the profit or loss after the initial valuation of the fair value of the hedge instruments is recognized in the income statement. The profit or loss on the hedged item, related to the hedged risk, changes the book value of that item and is recognized in the income statement. \u2022 ash flow hedge \u2013 if a derivative financial instrument is designated as a hedge for the exposure of changes in the cash flows of an asset or liability recorded on the financial statements or of an operation considered highly probable and which may have effects on the income statement, the effective portion of the profits or losses of the financial instrument is recognized in an equity reserve. The cumulative profits or losses are reversed from equity and recorded in the income statement in the same period as the operation that is hedged. The profits or losses associated with a hedge or with that part of the hedge that has become ineffective, are immediately recorded in the income statement. If a hedge instrument or a relation of a hedge is closed, but the hedged operation has not yet been realized, the cumulative profits and losses, up to that moment recorded in equity, are recognized in the income statement when the relative operation is realized. If the operation hedged is no longer considered probable, the profits or losses not yet realized in equity are recognized immediately in the income statement.IFRS 9 requires that the expenses and income deriving from hedges are recognized as an adjustment to the initial carrying amount of the non-financial elements hedged (basis adjustment). In addition, transfers from the hedging reserve to the initial carrying amount of the hedged item are not reclassified adjustments based on IAS 1 Presentation of Financial Statements. The hedging income and losses subject to the basis adjustment are categorized as amounts that will not subsequently be reclassified to profit or loss or to the other elements of the comprehensive income statement. This is consistent with the practice of the Group prior to the adoption of IFRS 9.In line with previous years, when a forward contract is used in a cash flow hedge or fair value hedge relationship, the Group has designated the change in fair value of the entire forward contract, including the forward points, as a hedging instrument.When option contracts are used to hedge highly probable scheduled transactions, the Group only designates the intrinsic value of the options as a hedging instrument. Based on IFRS 9, changes in the time value of options relating to the hedged item are recognized in the other elements of the comprehensive income statement and are accumulated in the equity reserve. The amounts accumulated in equity are either reclassified to profit or loss for the period when the hedged item influences the profit (loss) for the period or removed directly from equity and included in the carrying amount of the non-financial item. IFRS 9 requires that the accounting treatment related to the unspecified time value of an option be applied retrospectively.If hedge accounting cannot be applied, the profits or losses deriving from the fair value of the derivative financial instruments are immediately recognized in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__65": {
"value": "2.11 INVENTORYInventories are measured at the lower of either the purchase or production cost and the net realizable value. The cost of raw materials and purchased finished products is calculated using the \u201cweighted average cost\u201d method or the standard cost where it approximates actual cost. The cost of semi-finished products and internally produced finished products includes raw material, direct labor costs and the indirect costs allocated based on normal production capacity. The net realizable value is determined on the basis of the estimated selling price under normal market conditions, net of direct sales costs. Allowances for obsolete and slow-moving goods are calculated for raw materials and semi-finished products on the base of their future use in the production process and for finished goods on the base of their future recoverability through the sale, taking into account market trends, consumer demand, past experience, historical results achieved and the recoverability of the goods value in ordinary market conditions. Against the value of stock as determined above, provisions are made in order to take account of obsolete or slow-moving stock.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__68": {
"value": "2.12 TRADE RECEIVABLES AND TRADE PAYABLESTrade receivables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method, net of any write-downs for loss in value. A provision for doubtful accounts is allocated when there is evidence that the Group may not succeed in collecting the original amount due. The provisions allocated for doubtful accounts are recorded in the income statement. Trade receivables are reviewed and assessed for impairment based on the model of expected losses using reasonable and supportable available information in accordance with the requirements of IFRS 9 to determine the credit risk of the respective items at the date they were initially recognized. According to the analysis performed, in consideration of the Group's business characteristics and the evaluation of the trading policies currently in use the Group accrues an additional credit loss allowance that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not overdue.The Group from time to time also transfers some trade receivables to factoring companies. In case such receivables represent legally sold credit, that do not comply with all the conditions of IFRS 9, they are not removed from the balance sheet, but are maintained on the financial statement with a contra entry as a financial debt towards the factoring company.Trade payables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__67": {
"value": "2.12 TRADE RECEIVABLES AND TRADE PAYABLESTrade receivables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method, net of any write-downs for loss in value. A provision for doubtful accounts is allocated when there is evidence that the Group may not succeed in collecting the original amount due. The provisions allocated for doubtful accounts are recorded in the income statement. Trade receivables are reviewed and assessed for impairment based on the model of expected losses using reasonable and supportable available information in accordance with the requirements of IFRS 9 to determine the credit risk of the respective items at the date they were initially recognized. According to the analysis performed, in consideration of the Group's business characteristics and the evaluation of the trading policies currently in use the Group accrues an additional credit loss allowance that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not overdue.The Group from time to time also transfers some trade receivables to factoring companies. In case such receivables represent legally sold credit, that do not comply with all the conditions of IFRS 9, they are not removed from the balance sheet, but are maintained on the financial statement with a contra entry as a financial debt towards the factoring company.Trade payables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__66": {
"value": "2.12 TRADE RECEIVABLES AND TRADE PAYABLESTrade receivables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method, net of any write-downs for loss in value. A provision for doubtful accounts is allocated when there is evidence that the Group may not succeed in collecting the original amount due. The provisions allocated for doubtful accounts are recorded in the income statement. Trade receivables are reviewed and assessed for impairment based on the model of expected losses using reasonable and supportable available information in accordance with the requirements of IFRS 9 to determine the credit risk of the respective items at the date they were initially recognized. According to the analysis performed, in consideration of the Group's business characteristics and the evaluation of the trading policies currently in use the Group accrues an additional credit loss allowance that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not overdue.The Group from time to time also transfers some trade receivables to factoring companies. In case such receivables represent legally sold credit, that do not comply with all the conditions of IFRS 9, they are not removed from the balance sheet, but are maintained on the financial statement with a contra entry as a financial debt towards the factoring company.Trade payables are initially classified on the financial statements at their current value and subsequently recalculated with the \u201camortized cost\u201d method. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__69": {
"value": "2.13 CASH IN HAND AND AT BANKCash and cash equivalents include cash, bank deposits on demand and other highly liquid short-term investments available within three months. Bank overdrafts are posted under current liabilities.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__72": {
"value": "2.14 EMPLOYEE BENEFITSPension plansThe Group recognizes different forms of defined benefit plans and defined contribution plans, in line with the local conditions and practices in the countries in which it carries out its activities. The premiums paid for defined contribution plans are recorded in the income statement for the part matured in the year. The defined benefit plans are based on the working life of the employees and on the remuneration received by the employee during a predetermined period of employment.The obligation of the company to finance the defined benefit plans and the annual cost recognized in the income statement are determined by independent consultants using the \u201cprojected unit credit\u201d method. The related costs are recorded in the income statement on the basis of the estimated employment period of employees. The Group recognises all the actuarial gains and losses in equity, via the consolidated statement of comprehensive income, in the year in which these arise.The employee severance fund of Italian companies (\u201cTFR\u201d) has always been considered to be a defined benefit plan however, following the changes to the discipline that governs the employment severance thfund introduced by Italian law no. 296 of 27 December 2006 (\u201cFinancial Law 2007\u201d) and subsequent Decrees and Regulations issued in the first months of 2007, Safilo Group, on the basis of the generally agreed interpretations, has decided that:st\u2022 the portion of the employee benefit liability accruing from 1 January 2007, whether transferred to selected pension funds or transferred to the treasury account established with INPS, must be classified as a \u201cdefined contribution plan\u201d;\u2022 the portion of the employee benefit liability accruing as of 31 December 2006, must be classified as a \u201cdefined benefit plan\u201d requiring actuarial valuations that exclude future increases in salaries.For an analysis of the accounting effects deriving from this decision, see paragraph 4.18 \u201cEmployees benefits\u201d. Remuneration plans under the form of share capital participationThe Group recognizes additional benefits to some employees through \"equity settled\" type stock options. In accordance with IFRS 2 - Share-based payments, the current value of the stock options determined at the vesting date through the application of the \"Black & Scholes\" method is recognized in the income statement under personnel costs in constant quotas over the period between the vesting date of the stock options and the maturity date, counterbalanced by an equity reserve. The effects of the vesting conditions not related to the market are not taken into consideration in the fair value of the vested options but are material to measurement of the number of options which are expected to be exercised.At the balance sheet date the Group revises its estimates on the number of options which are expected to be exercised. The impact of the revision of the original estimates is recognized in profit or loss over the maturity period, with a balance entry in equity reserves. When the stock option is exercised, the amounts received by the employee, net of the costs directly attributable to the transaction, are credited to share capital for an amount equal to the par value of the issued shares and to the share premium reserve for the remaining part.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__71": {
"value": "2.14 EMPLOYEE BENEFITSPension plansThe Group recognizes different forms of defined benefit plans and defined contribution plans, in line with the local conditions and practices in the countries in which it carries out its activities. The premiums paid for defined contribution plans are recorded in the income statement for the part matured in the year. The defined benefit plans are based on the working life of the employees and on the remuneration received by the employee during a predetermined period of employment.The obligation of the company to finance the defined benefit plans and the annual cost recognized in the income statement are determined by independent consultants using the \u201cprojected unit credit\u201d method. The related costs are recorded in the income statement on the basis of the estimated employment period of employees. The Group recognises all the actuarial gains and losses in equity, via the consolidated statement of comprehensive income, in the year in which these arise.The employee severance fund of Italian companies (\u201cTFR\u201d) has always been considered to be a defined benefit plan however, following the changes to the discipline that governs the employment severance thfund introduced by Italian law no. 296 of 27 December 2006 (\u201cFinancial Law 2007\u201d) and subsequent Decrees and Regulations issued in the first months of 2007, Safilo Group, on the basis of the generally agreed interpretations, has decided that:st\u2022 the portion of the employee benefit liability accruing from 1 January 2007, whether transferred to selected pension funds or transferred to the treasury account established with INPS, must be classified as a \u201cdefined contribution plan\u201d;\u2022 the portion of the employee benefit liability accruing as of 31 December 2006, must be classified as a \u201cdefined benefit plan\u201d requiring actuarial valuations that exclude future increases in salaries.For an analysis of the accounting effects deriving from this decision, see paragraph 4.18 \u201cEmployees benefits\u201d. Remuneration plans under the form of share capital participationThe Group recognizes additional benefits to some employees through \"equity settled\" type stock options. In accordance with IFRS 2 - Share-based payments, the current value of the stock options determined at the vesting date through the application of the \"Black & Scholes\" method is recognized in the income statement under personnel costs in constant quotas over the period between the vesting date of the stock options and the maturity date, counterbalanced by an equity reserve. The effects of the vesting conditions not related to the market are not taken into consideration in the fair value of the vested options but are material to measurement of the number of options which are expected to be exercised.At the balance sheet date the Group revises its estimates on the number of options which are expected to be exercised. The impact of the revision of the original estimates is recognized in profit or loss over the maturity period, with a balance entry in equity reserves. When the stock option is exercised, the amounts received by the employee, net of the costs directly attributable to the transaction, are credited to share capital for an amount equal to the par value of the issued shares and to the share premium reserve for the remaining part.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__70": {
"value": "2.14 EMPLOYEE BENEFITSPension plansThe Group recognizes different forms of defined benefit plans and defined contribution plans, in line with the local conditions and practices in the countries in which it carries out its activities. The premiums paid for defined contribution plans are recorded in the income statement for the part matured in the year. The defined benefit plans are based on the working life of the employees and on the remuneration received by the employee during a predetermined period of employment.The obligation of the company to finance the defined benefit plans and the annual cost recognized in the income statement are determined by independent consultants using the \u201cprojected unit credit\u201d method. The related costs are recorded in the income statement on the basis of the estimated employment period of employees. The Group recognises all the actuarial gains and losses in equity, via the consolidated statement of comprehensive income, in the year in which these arise.The employee severance fund of Italian companies (\u201cTFR\u201d) has always been considered to be a defined benefit plan however, following the changes to the discipline that governs the employment severance thfund introduced by Italian law no. 296 of 27 December 2006 (\u201cFinancial Law 2007\u201d) and subsequent Decrees and Regulations issued in the first months of 2007, Safilo Group, on the basis of the generally agreed interpretations, has decided that:st\u2022 the portion of the employee benefit liability accruing from 1 January 2007, whether transferred to selected pension funds or transferred to the treasury account established with INPS, must be classified as a \u201cdefined contribution plan\u201d;\u2022 the portion of the employee benefit liability accruing as of 31 December 2006, must be classified as a \u201cdefined benefit plan\u201d requiring actuarial valuations that exclude future increases in salaries.For an analysis of the accounting effects deriving from this decision, see paragraph 4.18 \u201cEmployees benefits\u201d. Remuneration plans under the form of share capital participationThe Group recognizes additional benefits to some employees through \"equity settled\" type stock options. In accordance with IFRS 2 - Share-based payments, the current value of the stock options determined at the vesting date through the application of the \"Black & Scholes\" method is recognized in the income statement under personnel costs in constant quotas over the period between the vesting date of the stock options and the maturity date, counterbalanced by an equity reserve. The effects of the vesting conditions not related to the market are not taken into consideration in the fair value of the vested options but are material to measurement of the number of options which are expected to be exercised.At the balance sheet date the Group revises its estimates on the number of options which are expected to be exercised. The impact of the revision of the original estimates is recognized in profit or loss over the maturity period, with a balance entry in equity reserves. When the stock option is exercised, the amounts received by the employee, net of the costs directly attributable to the transaction, are credited to share capital for an amount equal to the par value of the issued shares and to the share premium reserve for the remaining part.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__73": {
"value": "2.15 PROVISIONS FOR RISKSThe Group records provisions for risks and charges when:\u2022 it has a legal or constructive obligation to third parties;\u2022 it is probable that it will be necessary to use resources of the Group to settle the obligation;\u2022 reliable estimate of the amount can be made;\u2022 hanges in estimates are recorded in the income statement of the period in which the changes occur.The item includes also the product warranty provision to cover the estimated cost of product warranties. Management establishes the amount of this provision on the basis of past trends relating to the frequency and average cost of under-warranty repairs and replacement in accordance with the law. These warranties are standard warranties on quality defectives in accordance with the law.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__74": {
"value": "2.16 LIABILITIES FOR OPTIONS ON NON\ue61bCONTROLLING INTERESTSPursuant to the contractual terms, the non-controlling interests held by the minority equity holders of the subsidiaries Priv\u00e9 Goods LLC and Blenders Eyewear LLC are subject to customary reciprocal put and call options. More specifically, the put and call options for:\u2022 riv\u00e9 Goods LLC may be exercised in each of the years 2023 and 2024 for one third of the minority interests and in 2025 for the remaining portion, at a price calculated as a function of a specific multiple applicable to the value of the EBITDA of the company achieved in the fiscal year preceding that of exercise of the relative option and adjusted to take into account the net financial position of the Company. In 2023 and 2024, the Group has exercised respectively the first and the second tranche of the option;\u2022 lenders Eyewear LLC might be exercised in each of the years 2023 and 2024 for one third of the minority interests and in 2025 for the remaining portion, at a price calculated as a function of a specific multiple applicable to the value of the arithmetic average of the EBITDA of the company achieved over the last two consecutive fiscal years preceding that of exercise of the relative option and adjusted to take into account the net financial position of the company. In March 2023, the Group agreed an extension of the second and third tranche of the put and call options on the non-controlling interest in Blenders, from 2024 and 2025 to 2026 and 2027 respectively. On 1 August 2023, the Group exercised the first tranche of the option on 10% of the minority shareholdings.These options generated liabilities for options on non-controlling interest in the Group consolidated financial statements at the acquisition date valued at their fair value using a discounted cash-flow approach based on the business plans underlying the acquisitions. The value of the liabilities is regularly updated on the basis of updated business plans, any liability fair value change is reported in the financial item \u201cGains/(losses) for options on non-controlling interests\u201d in the income statement.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__76": {
"value": "2.17 REVENUE RECOGNITIONThe Group\u2019s primary revenue segment is the selling of eyewear products in the wholesale channel through its subsidiary network and a network of independent distribution partners. Moreover, for certain brands in its portfolio the Group sells its eyewear products directly to its customers through its online sales channel, mainly in the North America market.Revenues include the fair value of the sale of goods and services, less VAT, returns and discounts. In particular, the Group recognizes the revenues when the control over goods sold is transferred to the customer, assumed at the shipment date, in accordance with the sales terms agreed.According to the standard contractual conditions applied by the Group, customers may have a right of return. If the sale includes the right for the client to return unsold goods, at the time of sale, a liability is recognized and a corresponding adjustment of revenues for the goods whose return is estimated. The Group recognised expected returns from sales of products by reducing revenue and recognised the cost relating to these returns by reducing cost of sales. In accordance with IFRS 15, the Group recognises the amount corresponding to the sales value of expected returns in the item Trade Payables and the amount corresponding to the cost of the products in the item Inventory. Based on historical experience and specific knowledge of customers, the Group estimates the amount of returns expected to be received on the entire portfolio using the expected value method. Warranty terms coincide with regulatory requirements and warranties cannot be sold or extended separately, as such, they are not capable of generating separate revenues. There are no services associated to the sale of goods to customers.The contracts with customers may recognize to the customer the right to incentives for the marketing and advertising activity performed by them on behalf of Safilo. The Group concluded that, according to IFRS 15 criteria, these are consideration paid to customer for distinct services and, as a consequence, recognizes them as expenses.This item does not include transportation costs charged to customers which have been classified as a reduction of the respective cost item.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDiscountsAndRebatesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__75": {
"value": "2.17 REVENUE RECOGNITIONThe Group\u2019s primary revenue segment is the selling of eyewear products in the wholesale channel through its subsidiary network and a network of independent distribution partners. Moreover, for certain brands in its portfolio the Group sells its eyewear products directly to its customers through its online sales channel, mainly in the North America market.Revenues include the fair value of the sale of goods and services, less VAT, returns and discounts. In particular, the Group recognizes the revenues when the control over goods sold is transferred to the customer, assumed at the shipment date, in accordance with the sales terms agreed.According to the standard contractual conditions applied by the Group, customers may have a right of return. If the sale includes the right for the client to return unsold goods, at the time of sale, a liability is recognized and a corresponding adjustment of revenues for the goods whose return is estimated. The Group recognised expected returns from sales of products by reducing revenue and recognised the cost relating to these returns by reducing cost of sales. In accordance with IFRS 15, the Group recognises the amount corresponding to the sales value of expected returns in the item Trade Payables and the amount corresponding to the cost of the products in the item Inventory. Based on historical experience and specific knowledge of customers, the Group estimates the amount of returns expected to be received on the entire portfolio using the expected value method. Warranty terms coincide with regulatory requirements and warranties cannot be sold or extended separately, as such, they are not capable of generating separate revenues. There are no services associated to the sale of goods to customers.The contracts with customers may recognize to the customer the right to incentives for the marketing and advertising activity performed by them on behalf of Safilo. The Group concluded that, according to IFRS 15 criteria, these are consideration paid to customer for distinct services and, as a consequence, recognizes them as expenses.This item does not include transportation costs charged to customers which have been classified as a reduction of the respective cost item.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__77": {
"value": "2.18 PUBLIC CONTRIBUTIONSThe Group recognizes public contributions when there is reasonable certainty that they will be received and that the conditions required for the contribution have been or will be respected. The contributions received are recorded in the income statement for the time required to relate them to the relative costs and they are considered as deferred income.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__78": {
"value": "2.19 ROYALTY EXPENSESThe Group recognizes royalty expenses in accordance with the accrual principle and in compliance with the substance of the contracts agreed.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTradingIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__79": {
"value": "2.20 DIVIDENDSDividends are recorded when the right of the Shareholders to receive the payment arises, which normally occurs when the Shareholders' meeting resolves the distribution of dividends. The distribution of dividends is therefore recorded as a liability on the financial statements in the period in which the distribution is approved by the Shareholders' meeting.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__81": {
"value": "2.21 INCOME TAXESIncome taxes include all taxes calculated on the taxable profits of the companies of the Group. Income taxes are recognized on the income statement, with the exception of those relating to accounts that are directly credited or debited to equity, in which case the tax effect is recognized directly in equity. Taxes not related to income (e.g. property taxes) are recorded within operating costs.Income tax expense also includes any provisions to cover risks arising from disputes over taxes inclusive of amounts related to taxes due and any penalties.Deferred taxes are calculated on fiscal losses that can be carried forward and all the temporary differences between the carrying amount of an asset or liability in the statement of financial position and its tax bases. Deferred tax assets are recognized only for those amounts where it is probable there will be future taxable income allowing for recovery of the amounts.Current and deferred tax assets and liabilities are offset when the income tax is applied by the same tax authority and when there is a legal right to offsetting. The deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates/laws that have been enacted or substantively enacted by the end of the reporting period in the countries in which the Group operates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__80": {
"value": "2.21 INCOME TAXESIncome taxes include all taxes calculated on the taxable profits of the companies of the Group. Income taxes are recognized on the income statement, with the exception of those relating to accounts that are directly credited or debited to equity, in which case the tax effect is recognized directly in equity. Taxes not related to income (e.g. property taxes) are recorded within operating costs.Income tax expense also includes any provisions to cover risks arising from disputes over taxes inclusive of amounts related to taxes due and any penalties.Deferred taxes are calculated on fiscal losses that can be carried forward and all the temporary differences between the carrying amount of an asset or liability in the statement of financial position and its tax bases. Deferred tax assets are recognized only for those amounts where it is probable there will be future taxable income allowing for recovery of the amounts.Current and deferred tax assets and liabilities are offset when the income tax is applied by the same tax authority and when there is a legal right to offsetting. The deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled, based on tax rates/laws that have been enacted or substantively enacted by the end of the reporting period in the countries in which the Group operates.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__82": {
"value": "2.22 EARNINGS PER SHAREBasicBasic earnings per share are calculated by dividing the profit or loss of the Group by the weighted average number of ordinary shares outstanding during the year. DilutedIn order to calculate the diluted earnings per share, the weighted average number of shares outstanding is adjusted for the dilution potential on ordinary shares (e.g. for stock options and convertible bonds), while the profit or loss of the Group is adjusted to take into account the effects, net of income taxes, of the conversion.",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__83": {
"value": "2.23 USE OF ESTIMATESThe preparation of the consolidated financial statements requires the Directors to apply accounting standards and methods that, in some circumstances, are based on difficult and subjective valuations and estimates based on past experience and assumptions which are from time to time considered reasonable and realistic according to the relative circumstances. The application of these estimates and assumptions affects the amounts posted in the financial statements, such as the balance sheet, the income statement, the cash flow statement and the notes thereto. Actual results of the balances on the financial statements, resulting from the above-mentioned estimates and assumptions, may differ from those reported on the financial statements due to the uncertainty which characterizes the assumptions and the conditions on which the estimates are based.The macroeconomic environment, resulting from a combination of geopolitical risks consequents to the still ongoing Ukraine - Russian invasion and the Israel-Gaza crisis represented an extraordinary circumstance that had direct and indirect repercussions on economic activity and has created a general environment of uncertainty. Also environmental responsibility risks and the transitory risks related to the regulation changes associated with the fight against the \u201cclimate change\u201d may have an impact in term of future uncertainty. Financial statements assumptions and estimates have taken into consideration the uncertainties deriving from the above circumstances. For more details see also the Report on Operations on the paragraph related to the \u201cMain critical risk factors for the Group\u201d.The accounting standards that are more subject to the directors\u2019 estimates and for which a change in the underlying conditions or the assumptions may have a significant impact on the consolidated financial statements of the Group are described briefly below. \u2022 oodwill: in accordance with the accounting standards adopted for the preparation of the financial statements, the Group tests goodwill at least once a year in order to ascertain the existence of any loss in value to be recorded in the income statement. In particular, the test results in the determination of the fair value allocated to the cash-generating units. This value is determined according to their current value in use. The assessment process of the impairment test is complex and is based on assumptions concerning, among other things, the forecast of expected cash flows of the CGU, the determination of appropriate discounting rates (WACC) and long-term growth (g-rate). These estimates depend on factors that may change over time with consequent effects, which may be significant, compared to the Directors\u2019 assessments. Consistent with the indications of the main regulators, to meet the difficulties of making accurate estimates of future flows, the Directors performed their estimate considering independent sources and analysts\u2019 projections and carried out the test performing some sensitivity analyses relating to the main inputs of the calculation. In addition, it is considered also the identified potential impact of the climate change on the estimated cash flows. As suggested by regulators and standard setters, the uncertainties have been reflected in the estimate of cash flows, rather than adding a risk premium to the discount rate. \u2022 rite-down of fixed assets: in accordance with the accounting standards applied by the Group, the fixed assets are verified to ascertain if there has been a loss in value which is recorded by means of a write-down, when it is considered there will be difficulty in recovering the relative net book value through use. The verification of the existence of such difficulty requires the Directors to make valuations based on the information available within the Group and from the market, as well as historical experience. In addition, when it is deemed that there may be a potential loss in value, the Group determines this using the most appropriate technical valuation methods available. Proper identification of the indicators of contingent impairment as well as the estimates used to determine them depend on factors which may vary over time, influencing the Directors\u2019 measurements and estimates.\u2022 llowance for bad or doubtful debts: the allowance for bad or doubtful debts reflects management\u2019s best estimate regarding losses concerning the credit portfolio towards the final client. This estimate is based on the losses expected by the Group, determined on the basis of past experience for similar credits, current and historic overdue, careful monitoring of credit quality and projections regarding the economic and market conditions. Management in its estimate considered also the economic conditions present in the various markets in which the Group operates and the consequent possible future losses on debts originated by contingent situations in those markets.\u2022 llowance for inventory obsolescence: the Group produces and sells goods subject to changes in market trends and consumer demand, consequently a significant level of judgment is required in determining the appropriate write-down of inventories based on sales forecasts. The inventory of finished products which are obsolete or slow moving are regularly subjected to specific assessment tests, which take into consideration past experience, historic results and the probability of sale under normal market conditions. If the need to reduce the value of the stock should arise following these analyses, management proceeds with the appropriate write-downs.\u2022 roduct warranty provision: when a product is sold, the Group estimates the relative costs of performing work under warranty and allocates a provision on the basis of historic information and a series of statistical data regarding the nature, frequency and the average cost of such work. The Group works constantly to minimize the costs of work performed under guarantee and to improve the quality of its products. The warranty provision is dependent on the amount of sales.\u2022 Contingent) liabilities: the Group is subject to legal and tax actions regarding different types of problems; due to uncertainties relating to proceedings and the complexity of such proceedings, management consults its lawyers, and other legal and fiscal experts, and when expenditure is considered probable and the amount can be reasonably estimated, adequate funds are allocated.\u2022 ension plans: the companies of the Group participate in pension plans, the costs of which are calculated by the management, with the assistance of the Group\u2019s actuarial consultants, on the basis of statistical assumptions and assessment factors regarding in particular the discount rate to be used, relative mortality and resignation rates.\u2022 eferred taxes: deferred tax assets are accounted for on the basis of the expectations of future taxable income. The assessment of the recoverability of deferred tax assets derives from specific assumptions about the probability that taxable income will be realized in future years and that these are sufficient to allow the recovery of deferred tax assets. These valuations are based on assumptions that may not even be realized or are realized to an insufficient extent compared to what is necessary to fully recover the deferred tax assets recorded in the financial statements, and therefore their variation could have significant effects on the valuation of deferred tax assets. \u2022 eases: the calculation of the value of the right of use assets arising from lease contracts, and of the related financial liabilities, represents a significant Management's estimate. In particular, a high level of judgment is applied in the determination of the lease term and in the calculation of the incremental borrowing rate. The determination of the lease term takes into consideration the contractual terms while, with reference to the renewal clauses, the Group applies a general \"no renewal\" rule. The incremental borrowing rate is built considering the asset type, the jurisdiction in which it is obtained and the currency of the contract.\u2022 ptions on minority interests: the contractual purchase terms of some investments in subsidiaries also included reciprocal put and call options on the non-controlling interests, for which the Group has recognized a liability whose valuation is highly dependent on the expectations of management regarding the future performance of the acquired companies.",
"dimensions": {
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__84-1": {
"value": "2.24 FAIR VALUE ESTIMATESThe fair value of the financial instruments traded on an active market is based on the listed price at the balance sheet date. The fair value of the financial instruments not traded on an active market is calculated in accordance with valuation techniques and models that are widely used in financial sectors and in particular:\u2022 the fair value of interest rate swaps is calculated on the basis of the current value of future cash flows;\u2022 the fair value of the forward currency hedging contracts is determined on the basis of the current value of the differences between the contracted forward exchange rate and the spot market rate at the balance sheet date;\u2022 the fair value of stock options is calculated using the Black & Scholes model.CLASSIFICATION OF FINANCIAL ASSETS AND LIABILITIES The table below shows the financial instruments reported on the balance sheet, according to the analyses requested by IFRS 7, with indication of the valuation criteria applied and, in the case of \u201cfinancial instruments measured at fair value\u201d, the impact on the income statement or the shareholders' equity. If applicable, the last column of the table shows the fair value of the financial instrument.Financial instruments Financial instruments at fair value through(Euro/000) Income Statement Other comprehensive Financial instruments Current value at Fair value at income (OCI)at amortised costDec. 31, 2024Dec. 31, 2024ASSETS Cash in hand and at bank - - 47,421 47,421 47,421Trade receivables, net - - 211,862 211,862 211,862Derivative financial 6,553 - - 6,553 6,553instrumentsInvestments in other 250 - - 250 250companiesOther current assets - - 34,555 34,555 34,555Other non-current assets - - 1,312 1,312 1,312Total assets 6,803 - 295,150 301,953 301,953LIABILITIESBorrowings - - 87,725 87,725 87,725Lease liability - - 42,376 42,376 42,376Derivative financial 1,635 46 - 1,681 1,681instrumentsOther current liabilities - - 47,813 47,813 47,813Liability for options on 13,118 - - 13,118 13,118non-controlling interestsOther non-current liabilities - - 7,535 7,535 7,535Total liabilities 14,753 46 185,448 200,248 200,248Financial instruments Financial instruments at fair value through(Euro/000) Income Statement Other comprehensive Financial instruments Current value at Fair value at income (OCI)at amortised costDec. 31, 2023Dec. 31, 2023ASSETS Cash in hand and at bank - - 74,898 74,898 74,898Trade receivables, net - - 203,075 203,075 203,075Derivative financial 585 271 - 855 855instrumentsOther current assets - - 40,119 40,119 40,119Other non-current assets - - 7,668 7,668 7,668Total assets 585 271 325,760 326,615 326,615LIABILITIESBorrowings - - 118,595 118,595 118,595Lease liability - - 39,002 39,002 39,002Derivative financial 3,909 - - 3,909 3,909instrumentsOther current liabilities - - 40,772 40,772 40,772Liability for options on 20,770 - - 20,770 20,770non-controlling interestsOther non-current liabilities - - 2,653 2,653 2,653Total liabilities 24,680 - 201,023 225,702 225,702HIERARCHICAL LEVELS OF THE FAIR VALUE MEASUREMENT Financial instruments reported in the balance sheet valued at the fair value, according to IFRS 13, are classified in the three-level hierarchy that reflects the significance of the input used in determining the fair value. The three levels of fair value of the hierarchy are:\u2022 evel 1 \u2013 if the instrument is quoted in an active market;\u2022 evel 2 - if the fair value is measured based on valuation techniques for which all significant inputs are based on observable market data, other than quotations of the financial instrument;\u2022 evel 3 \u2013 if the fair value is calculated based on valuation techniques for which any significant input is not based on observable market data.The following table shows the liabilities and assets valued at their fair value at 31 December 2024 and 31 December 2023, split by hierarchical level of the fair value.December 31, 2024 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 6,553 - 6,553Total assets - 6,553 - 6,553Derivative financial instruments - (1,681) - (1,681)Liability for options on non-controlling interests - - (13,118) (13,118)Total liabilities - (1,681) (13,118) (14,799)December 31, 2023 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 855 - 855Total assets - 855 - 855Derivative financial instruments - (3,909) - (3,909)Liability for options on non-controlling interests - - (20,770) (20,770)Total liabilities - (3,909) (20,770) (24,680)In 2024 there have been no transfers from level 1 to level 2 and from level 2 to level 3 and vice versa.",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__85": {
"value": "2.25 HYPERINFLATION IN TURKEYTurkey's economy has been considered hyperinflationary since 1 April 2022. Therefore, IAS 29 \u2013 Financial Reporting in Hyperinflationary Economies had become applicable to the Group\u2019s operations in Turkey. The impacts recognized in the Group's consolidated financial statements for the year ended 31 December 2024 were not-material on both the equity and the statement of profit or loss. Those impacts were calculated based on the change in the Consumer Price Index published by the Turkish Statistical Institute.",
"dimensions": {
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"language": "en",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__86": {
"value": "3. RISK MANAGEMENTThe operations of Safilo Group are subject to various financial risks, in particular:\u2022 credit risks, related to normal business relations with clients and to financial assets in the financial statements;\u2022 market risks (mainly interest and exchange rate risks), since the Group operates internationally and uses financial instruments that generate interest;\u2022 liquidity risks, concerning the ability to promptly find resources on financial markets under normal market conditions when needed.The Group constantly monitors the financial risks to which it is exposed, in order to assess potentially negative effects in advance and to take appropriate corrective measures with the aim of eliminating or, at least, limiting the negative effects deriving from the risks in question. The assessment of financial risks has been influenced by the macroeconomic environment, resulting from a combination of geopolitical risks consequents to Russia\u2019s invasion in Ukraine and to the Israel and Hamas conflict.The risks to which the Group is exposed are managed centrally on the basis of hedging policies that may also include the use of derivative instruments with the aim of minimizing the effects deriving from exchange rate (especially in relation to the US dollar) and interest rate fluctuations.",
"dimensions": {
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__87": {
"value": "The Group strives to reduce risk deriving from the insolvency of its customers through rules ensuring that sales are made to reliable and solvent customers. The relative assessment is based on information regarding the solvency of customers and statistical historical data. However, credit risk is mitigated by the fact that credit exposure is spread over a very large number of clients.The markets economic and financial conditions have accentuated the risk of potential insolvency, in a differentiated way according to the categories of customers and geographical areas such as emerging markets. In reaction to this changed context, the Group strengthened the policies described and maintained constant monitoring of the individual credit positions. Positions of a significant amount for which the Group recognizes that total or partial recovery will be effectively impossible, also taking into account any guarantees obtained, as well as the charges and expenses that will have to be sustained for the attempted credit recovery, are subject to individual write-down. In compliance with IFRS 9, management has also considered potential risks associated with specific categories of customers or certain geographic areas.The Group\u2019s theoretical maximum exposure to the credit risk at the date of the balance sheet is represented by the book value of the financial assets.As required by IFRS 7, paragraph 36, the table below analyses the age of receivables as of 31 December 2024 and 31 December 2023:Ageing of trade receivablesDecember 31, 2024 December 31, 2023(Euro/000) Nominal value Allowance Net value Nominal value Allowance Net valueup to 3 months 413 (413) - 497 (497) -3 to 6 months 693 (693) - 1,042 (1,042) -6 to 9 months 1,361 (1,361) - 1,358 (1,358) -from 9 to 12 months 1,115 (1,115) - 676 (676) -from 12 to 24 months 2,928 (2,928) - 2,252 (2,252) -over 24 months 3,747 (3,747) - 3,920 (3,920) -Overdue and impaired 10,258 (10,258) - 9,744 (9,744) -up to 1 month 15,636 15,636 12,063 12,063from 1 to 3 months 4,841 4,841 5,502 5,5023 to 6 months 6,010 6,010 6,533 6,5336 to 9 months 3,220 3,220 1,796 1,796from 9 to 12 months 619 619 582 582from 12 to 24 months 754 (381) 373 1,071 (410) 660over 24 months 190 (190) - 310 (310) -Overdue and not impaired 31,270 (571) 30,699 27,856 (720) 27,136Neither overdue nor impaired 181,255 (92) 181,163 175,994 (55) 175,939Grand total 222,783 (10,920) 211,862 213,594 (10,519) 203,075At 31 December 2024 past due receivables for which no allowance for bad debts was considered, as the Group considered them fully collectible, amounted to 31,270 thousand Euro (compared to 27,856 thousand Euro at 31 December 2023). Of these, receivables that were more than 12 months past due amounted to 944 thousand Euro (compared to 1,381 thousand Euro at 31 December 2023) but accounted for 0.4% of the Group\u2019s total trade receivable compared to 0.7% in the previous year.In accordance with the requirements of IFRS 9, the Group has assessed the existing trade receivables for impairment based on the model of expected losses, as at 31 December 2024 the provision for doubtful accounts includes a credit loss allowance of 0.7 million Euro (0.8 million Euro at 31 December 2023) that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not past due.",
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f0__s7__6__88": {
"value": "Market risks can be divided into the following categories: Exchange rate riskThe Group operates internationally and is therefore exposed to risks deriving from variations in exchange rates that may influence the value of its shareholders\u2019 equity and financial results. In 2024, fluctuations in the exchange rates of the main currencies have been affected by the general macroeconomic context.The Group tries to reduce the effects deriving from currency fluctuations by means of a \u201cnatural hedging\u201d between revenues and costs denominated in the same foreign currency (mainly in US dollar). The remaining exposure can be hedged with currency forward contracts (\u201cplain vanilla\u201d) always expiring in less than 12 months. As far as sensitivity analysis is concerned, an increase or decrease of 10% of Euro against the US Dollar would result respectively in a decrease or an increase of the 2024 net sales of around 38,117 thousand Euro while an increase or decrease of 10% of Euro against all the other currencies would result overall in a decrease or an increase of the 2024 net sales of around 21,830 thousand Euro.Furthermore, the Group owns shareholdings in subsidiaries located in areas outside the European Monetary Union, the variations in the net assets, deriving from fluctuations in the exchange rates of the local currency against the Euro, are recorded in a reserve of the consolidated shareholders\u2019 equity named \u201ctranslation reserve\u201d. The table below summarizes the net financial assets of the Group per currency at 31 December 2024 and 31 December 2023:(Euro/000) December 31, 2024 December 31, 2023USD 292,927 272,869HKD 82,533 76,287CNY 85,230 76,491GBP 3,689 1,157CAD 24,013 22,538CHF 1,889 1,797BRL 19,639 20,330 EUR (100,585) (87,106)Other currencies 18,126 11,423 Total 427,461 395,786 In terms of translation risk related to the conversion of the equity of the companies in foreign currencies other than the Euro, the sensitivity analysis shows that a possible revaluation or devaluation of 10% of Euro against those currencies, would respectively cause a decrease or increase in Group net equity of about 48,004 thousand Euro.The table below summarizes the financial assets and liabilities of the Group per currency at 31 December 2024 and 31 December 2023:(Euro/000) December 31, 2024Euro US Dollar Other currencies TotalCash in hand and at bank 11,773 13,124 22,524 47,421Trade receivables, net 72,172 71,250 68,440 211,862Derivative financial instruments 6,553 - - 6,553Other current assets 18,307 6,945 9,304 34,556Total current financial assets 108,805 91,319 100,268 300,392Other non-current assets 388 353 571 1,312Total non-current financial assets 388 353 571 1,312Trade payables 76,715 65,301 23,246 165,262Short-term borrowings 30,000 - - 30,000Lease liabilities 2,968 5,058 2,412 10,438Derivative financial instruments 1,681 - - 1,681Tax payables and other current liabilities 26,885 16,000 18,784 61,669Total current financial liabilities 138,249 86,359 44,442 269,050Long-term borrowings 57,725 - - 57,725Lease liabilities 5,597 22,056 4,285 31,937Liabilities for options on non-controlling - 13,118 - 13,118interestsOther non-current liabilities 3,218 - 4,317 7,535Total non-current financial liabilities 66,540 35,174 8,601 110,315(Euro/000) December 31, 2023Euro US Dollar Other currencies TotalCash in hand and at bank 16,421 34,194 24,284 74,899Trade receivables, net 65,269 75,547 62,258 203,074Derivative financial instruments 585 - - 585Other current assets 13,078 14,870 12,171 40,119Total current financial assets 95,353 124,611 98,713 318,677Derivative financial instruments 271 - - 271Other non-current assets 5,623 344 1,702 7,668Total non-current financial assets 5,894 344 1,702 7,939Trade payables 73,817 81,368 16,922 172,106Short-term borrowings 30,250 - - 30,250Lease liabilities 2,803 4,660 2,180 9,643Derivative financial instruments 3,909 - - 3,909Tax payables and other current liabilities 26,146 20,063 17,946 64,155Total current financial liabilities 136,925 106,091 37,047 280,063Long-term borrowings 88,345 - - 88,345Lease liabilities 3,591 24,096 1,671 29,359Liabilities for options on non-controlling - 20,770 - 20,770interestsOther non-current liabilities 2,379 246 28 2,653Total non-current financial liabilities 94,316 45,113 1,699 141,127Changes in fair value riskThe Group holds some assets that are subject to variations in value over time according to the variations of the market on which they are traded. With regard to trade payables and receivables and other current and non-current assets, it is assumed that their book value is approximately equal to their fair value.Interest rate riskBorrowing exposes the Group to the risk of variations in interest rates. In particular, floating-rate borrowings are subject to a cash flow risk. The Group constantly monitors its exposure to changes in interest rates, and manages this risk through interest rate swaps (IRSs). The interest rate swap contracts are stipulated with primary financial institutions and, at the beginning of the hedge, the formal designation is made and the documentation relating to the hedge is prepared. At 31 December 2024 the floating interest-bearing loans of the Group\u2019s total borrowings were hedged by interest rate swap contracts for an amount of 48,000 thousand Euro (53% of outstanding borrowings), at 31 December 2023 the floating interest-bearing loans were hedged for 64,000 thousand Euro (52% of outstanding borrowings).The table below summarizes the breakdown by maturity date of the nominal value (gross of transaction costs) for the floating and fixed interest-bearing loans, as at 31 December 2024 and 31 December 2023:December 31, 2024Floating Fixed Total(Euro/000) within 1 year 30,000 - 30,000 between 1 and 2 years 30,000 - 30,000 between 3 and 5 years 30,000 - 30,000 beyond 5 years - - -Total 90,000 - 90,000 December 31, 2023Floating Fixed Total(Euro/000) within 1 year 30,250 - 30,250 between 1 and 2 years 30,500 - 30,500 between 3 and 5 years 61,250 - 61,250 beyond 5 years - - -Total 122,000 - 122,000 The following table summarizes the main characteristics of the most significant variable and fixed rate medium and long term borrowings outstanding at 31 December 2024 and 31 December 2023:December 31, 2024Currency Nominal interest rate Nominal value Book value Expiry(Euro/000)Term Loan Facility Euro Euribor 90,000 87,725 30 June 2027December 31, 2023Currency Nominal interest rate Nominal value Book value Expiry(Euro/000)Term Loan Facility Euro Euribor 120,000 116,595 30 June 2027Capex Facility line Euro Euribor 2,000 2,000 30 June 2027As far as sensitivity analysis is concerned, a positive (negative) variation of 50 bps in the level of the short-term interest rates applied to the unhedged portion of the floating-rate borrowings would have had an impact in term of greater (lower) 2024 annual financial charges, on a pre-tax basis, of 268 thousand Euro (339 thousand Euro impact at 31 December 2023).",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__89": {
"value": "This risk could affect the inability to find the necessary financial resources to support the operating activities at favorable market terms within the necessary timeframe. The Group companies\u2019 cash flows, borrowing requirements and liquidity are constantly monitored at central level by the Group\u2019s Treasury in order to ensure an effective and efficient use of the available cash.The following table details the credit lines granted to the Group, utilizations and net available amounts: December 31, 2024Credit lines granted Uses Credit lines available(Euro/000)Credit lines on bank accounts and short-term bank loans 18,391 - 18,391Credit lines on long-term bank loans 165,000 90,000 75,000Total 183,391 90,000 93,391 December 31, 2023Credit lines granted Uses Credit lines available(Euro/000)Credit lines on bank accounts and short-term bank loans 17,631 - 17,631Credit lines on long-term bank loans 270,000 122,000 148,000Total287,631 122,000 165,631 The credit lines on loans are related to the committed, unsubordinated and unsecured new financing agreement with maturity September 2027 consisting of a Term Loan Facility of 90,000 thousand Euro, a Revolving Credit Facility of 75,000 thousand Euro for a total amount equal to 165,000 thousand Euro (used for 90,000 thousand Euro at 31 December 2024). The decrease of the credit lines on long-term bank loans is due to the termination of the Capex Facility line of 75,000 thousand Euro.The table below summarizes the financial assets and liabilities of the Group by maturity, undiscounted and inclusive of the interest payments, at 31 December 2024 and 31 December 2023:(Euro/000) December 31, 2024within 1 year between 1 and 2 between 3 and 5 beyond 5 years TotalyearsyearsCash in hand and at bank 47,421 - - - 47,421Trade receivables, net 211,863 - - - 211,863Derivative financial 6,553 - - - 6,553instrumentsOther current assets 34,555 - - - 34,555Other non-current assets - 1,031 194 87 1,312Total financial assets 300,392 1,031 194 87 301,704Trade payables 165,262 - - - 165,262Tax payables 13,856 - - - 13,856Borrowings 29,241 29,242 29,242 - 87,725Interest payments 4,929 3,286 1,643 - 9,859(Euro/000) December 31, 2024within 1 year between 1 and 2 between 3 and 5 beyond 5 years TotalyearsyearsLease liability 10,438 9,267 19,186 3,485 42,376Derivative financial 1,682 - - - 1,682instrumentsOther current liabilities 47,813 - - - 47,813Liabilities for options on - 5,342 7,776 - 13,118non-controlling interestsOther non-current liabilities - 1,167 4,986 1,382 7,535Total financial liabilities 273,221 48,304 62,832 4,867 389,224(Euro/000) December 31, 2023within 1 year between 1 and 2 between 3 and 5 beyond 5 years TotalyearsyearsCash in hand and at bank 74,898 - - - 74,898Trade receivables, net203,074 --- 203,074Derivative financial 585 271 - - 856instrumentsOther current assets40,119 - - - 40,119Other non-current assets - 7,358 249 61 7,668Total financial assets 318,676 7,629 249 61 326,615Trade payables 172,106 - - - 172,106Tax payables 23,382 - - - 23,382Borrowings 30,250 29,365 58,980 - 118,595Interest payments 8,142 6,107 6,107 - 20,355Lease liability 9,643 7,415 15,903 6,041 39,002Derivative financial 3,909 - - - 3,909instrumentsOther current liabilities 40,773 - - - 40,773Liabilities for options on - - 20,770 - 20,770non-controlling interestsOther non-current liabilities - 2,520 27 107 2,653Total financial liabilities 288,205 45,406 101,787 6,147 441,545",
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"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f0__s7__6__90": {
"value": "HIERARCHICAL LEVELS OF THE FAIR VALUE MEASUREMENT Financial instruments reported in the balance sheet valued at the fair value, according to IFRS 13, are classified in the three-level hierarchy that reflects the significance of the input used in determining the fair value. The three levels of fair value of the hierarchy are:\u2022 Level 1 \u2013 if the instrument is quoted in an active market;\u2022 Level 2 - if the fair value is measured based on valuation techniques for which all significant inputs are based on observable market data, other than quotations of the financial instrument;\u2022 Level 3 \u2013 if the fair value is calculated based on valuation techniques for which any significant input is not based on observable market data.The following table shows the liabilities and assets valued at their fair value at 31 December 2024 and 31 December 2023, split by hierarchical level of the fair value.December 31, 2024 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 6,553 - 6,553Total assets - 6,553 - 6,553Derivative financial instruments - (1,681) - (1,681)Liability for options on non-controlling interests - - (13,118) (13,118)Total liabilities - (1,681) (13,118) (14,799)December 31, 2023 (Euro/000) Level 1 Level 2 Level 3 TotalDerivative financial instruments - 855 - 855Total assets - 855 - 855Derivative financial instruments - (3,909) - (3,909)Liability for options on non-controlling interests - - (20,770) (20,770)Total liabilities - (3,909) (20,770) (24,680)In 2024 there have been no transfers from level 1 to level 2 and from level 2 to level 3 and vice versa.",
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"language": "en",
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"f0__s7__6__93": {
"value": "4.1 CASH AND CASH EQUIVALENTS(Euro/000) December 31, 2024 December 31, 2023Cash and cash equivalents 47,421 74,898This account totals 47,421 thousand Euro compared to 74,898 thousand Euro at 31 December 2023 and represents the momentary availability of cash invested at market rates. The book value of the available liquidity is aligned with its fair value at the reporting date. The related credit risk is very limited as the counterparties are leading banks.As of 31 December 2024, about 22% of the cash balance resided in the Italian companies, about 30% in the North America entities, 30% in the European entities, while the remaining 18% was attributable to several other Group entities.Management has established policies to make existing cash readily available for any need of the Group.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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"f0__s7__6__95": {
"value": "4.2 TRADE RECEIVABLESThis item breaks down as follows: (Euro/000) December 31, 2024 December 31, 2023Gross value trade receivables 222,783 213,594Allowance for doubtful accounts (-) (10,920) (10,519)Net value 211,862 203,075The allowance for doubtful accounts includes the provision for insolvency posted on the income statement under the item \"general and administrative expenses\" (note 5.4). The following table shows changes in the allowance for doubtful accounts:(Euro/000) January 1, Addition Use/Release (-) Transl. diff. December 31, 20242024Allowance for doubtful accounts (-) 10,519 3,371 (2,509) (461) 10,920 (Euro/000) January 1, Addition Use/Release (-) Transl. diff. December 31, 20232023Allowance for doubtful accounts (-) 11,725 2,048 (3,053) (200) 10,519 In accordance with the requirements of IFRS 9, the Group has reviewed and assessed the overdue trade receivables for impairment and, according to the analysis performed, has accrued an allowance for doubtful accounts equal to 3,371 thousand Euro, also in consideration of the current and prospective risk on the global markets under the ongoing macro economic scenario. The decrease of the period equal to Euro 2,509 thousand is mainly related to the use of the allowance to cover the impact of the write-off of the already impaired accounts receivables considered as definitively not recoverable.In accordance with the requirements of IFRS 9, the Group has assessed the existing trade receivables for impairment based on the model of expected losses, as at 31 December 2024 the provision for doubtful accounts includes a credit loss allowance of 0.7 million Euro (0.8 million Euro at 31 December 2023) that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not past due.The Group has no particular concentration of credit risk, as its credit exposure is spread over a large number of clients and geographies. The carrying amount of the trade receivables, is considered to be approximately equal to their fair value.Further information about the impairment of trade receivables and the Group\u2019s exposure to credit risk can be found in note 3 paragraph \u201cCredit risks\u201d.",
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f0__s7__6__94": {
"value": "4.2 TRADE RECEIVABLESThis item breaks down as follows: (Euro/000) December 31, 2024 December 31, 2023Gross value trade receivables 222,783 213,594Allowance for doubtful accounts (-) (10,920) (10,519)Net value 211,862 203,075The allowance for doubtful accounts includes the provision for insolvency posted on the income statement under the item \"general and administrative expenses\" (note 5.4). The following table shows changes in the allowance for doubtful accounts:(Euro/000) January 1, Addition Use/Release (-) Transl. diff. December 31, 20242024Allowance for doubtful accounts (-) 10,519 3,371 (2,509) (461) 10,920 (Euro/000) January 1, Addition Use/Release (-) Transl. diff. December 31, 20232023Allowance for doubtful accounts (-) 11,725 2,048 (3,053) (200) 10,519 In accordance with the requirements of IFRS 9, the Group has reviewed and assessed the overdue trade receivables for impairment and, according to the analysis performed, has accrued an allowance for doubtful accounts equal to 3,371 thousand Euro, also in consideration of the current and prospective risk on the global markets under the ongoing macro economic scenario. The decrease of the period equal to Euro 2,509 thousand is mainly related to the use of the allowance to cover the impact of the write-off of the already impaired accounts receivables considered as definitively not recoverable.In accordance with the requirements of IFRS 9, the Group has assessed the existing trade receivables for impairment based on the model of expected losses, as at 31 December 2024 the provision for doubtful accounts includes a credit loss allowance of 0.7 million Euro (0.8 million Euro at 31 December 2023) that covers the potential additional credit risk expected on the amount overdue and not impaired and on the amount not past due.The Group has no particular concentration of credit risk, as its credit exposure is spread over a large number of clients and geographies. The carrying amount of the trade receivables, is considered to be approximately equal to their fair value.Further information about the impairment of trade receivables and the Group\u2019s exposure to credit risk can be found in note 3 paragraph \u201cCredit risks\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__96": {
"value": "4.3 INVENTORIES This item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Raw materials 52,472 51,588Work in progress 3,130 3,335Finished goods206,183228,158Gross inventories 261,784 283,081Provision for obsolete inventories (-) (51,612) (54,090)Total 210,173 228,991In order to deal with obsolete or slow-moving stock, a specific provision has been allocated, calculated for raw materials and semi-finished products on the base of their future use in the production process and for finished goods on the base of their future recoverability through the sale, taking into account market trends, consumer demand, past experience, historical results achieved and the recoverability of the goods value in ordinary market conditions. The effects of the termination of some licenses were also considered. This item is charged in the income statement in \u201ccost of sales\u201d (note 5.2).The movements in the period are shown below:(Euro/000) January 1, 2024 Posted to income statement Transl. diff. December 31, 2024Inventory gross value 283,081 (28,486) 7,190 261,784 Provision for obsolete (54,090) 2,768 (290) (51,612)inventories (-)Total net 228,991 (25,718) 6,900 210,173 (Euro/000) January 1, 2023 Posted to income statement Transl. diff. December 31, 2023Inventory gross value 318,255 (26,632) (8,542) 283,081 Provision for obsolete (59,274) 3,980 1,205 (54,090)inventories (-)Total net 258,980 (22,652) (7,338) 228,991",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__97": {
"value": "4.4 DERIVATIVE FINANCIAL INSTRUMENTSThe following table summarizes the amounts of financial instruments:(Euro/000) December 31, 2024 December 31, 2023Current assets: - Foreign currency contracts - Fair value through P&L 6,553 585 Non-current assets:- Interest rate swaps - cash \ufb02ow hedge - 271 Current liabilities: - Foreign currency contracts - Fair value through P&L (1,635) (3,909)- Interest rate swaps - cash \ufb02ow hedge (46) -Total (1,681) (3,909)Total Net 4,871 (3,054)The market value of the forward contracts is calculated using the present value of the differences between the contractual forward exchange rate and the market forward exchange rate. At the reporting date, the Group had contracts for hedging against exchange rate fluctuations for a positive net market value of 4,917 thousand Euro (negative for 3,324 thousand Euro at 31 December 2023).The following table summarizes the characteristics and fair value of foreign currency forward contracts:December 31, 2024 Fair value(Euro/000) Maturity Notional amount Assets LiabilitiesFair value within 1 year 270,467 6,553 (1,635)Total forward contracts 270,467 6,553 (1,635)December 31, 2023 Fair value(Euro/000) Maturity Notional amount Assets LiabilitiesFair value within 1 year 189,530 585 (3,909)Total forward contracts 189,530 585 (3,909)The net market value of interest rate swap (IRS) contracts was negative for 46 thousand Euro (positive for 271 thousand Euro at 31 December 2023). The Group\u2019s policies for managing interest rate risk are designated to hedge of the exposure to variability in future interest cash flows given this, the related hedging effect must be suspended in the cash flow reserve and recognized in profit or loss in subsequent years when the expected flows actually emerge.The following table summarizes the characteristics and fair value of IRS contracts:December 31, 2024 Fair value(Euro/000) Maturity Notional amount Assets LiabilitiesCash \ufb02ow hedge 2025 48,000 - (46)Total IRS contracts 48,000 - (46)December 31, 2023 Fair value(Euro/000) Maturity Notional amount Assets LiabilitiesCash \ufb02ow hedge 2025 64,000 271 -Total IRS contracts 64,000 271 -",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__100": {
"value": "4.5 OTHER CURRENT ASSETSThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023VAT receivable 6,431 7,670Income tax receivables 7,539 19,307Prepayments and accrued income9,398 6,452Other receivables 11,187 6,689Total 34,555 40,119Income tax receivables are mainly related to tax credits and advance payments made during the financial year which will be offset against the related tax payables.Prepayments and accrued income amounted to 9,398 thousand Euro compared to 6,452 thousand Euro at 31 December 2023, and mainly relate to royalties and advertising expenses, prepaid insurance and other prepaid expenses. The increase of the period is related to the deferral of a commission paid for the early renewal of a license contract.Other current receivables amounted to 11,187 thousand Euro, compared to 6,689 thousand Euro of 31 December 2023. The balance mainly includes deposit payments due within 12 months and other receivables related to the ordinary business. The increase is mainly due to the reclassification from long-term receivables of the residual balance of the cash consideration for the disposal of the office real estate near the Padua Headquarters, finalised in 2021 collected through monthly instalments along a four year payment period within 2025 according to the contract.These other current receivables are expected to be recovered in the coming months and are reasonably certain in term of fulfillment conditions. It is considered that the book value of the other current assets is approximately equal to their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__99": {
"value": "4.5 OTHER CURRENT ASSETSThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023VAT receivable 6,431 7,670Income tax receivables 7,539 19,307Prepayments and accrued income9,398 6,452Other receivables 11,187 6,689Total 34,555 40,119Income tax receivables are mainly related to tax credits and advance payments made during the financial year which will be offset against the related tax payables.Prepayments and accrued income amounted to 9,398 thousand Euro compared to 6,452 thousand Euro at 31 December 2023, and mainly relate to royalties and advertising expenses, prepaid insurance and other prepaid expenses. The increase of the period is related to the deferral of a commission paid for the early renewal of a license contract.Other current receivables amounted to 11,187 thousand Euro, compared to 6,689 thousand Euro of 31 December 2023. The balance mainly includes deposit payments due within 12 months and other receivables related to the ordinary business. The increase is mainly due to the reclassification from long-term receivables of the residual balance of the cash consideration for the disposal of the office real estate near the Padua Headquarters, finalised in 2021 collected through monthly instalments along a four year payment period within 2025 according to the contract.These other current receivables are expected to be recovered in the coming months and are reasonably certain in term of fulfillment conditions. It is considered that the book value of the other current assets is approximately equal to their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__98": {
"value": "4.5 OTHER CURRENT ASSETSThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023VAT receivable 6,431 7,670Income tax receivables 7,539 19,307Prepayments and accrued income9,398 6,452Other receivables 11,187 6,689Total 34,555 40,119Income tax receivables are mainly related to tax credits and advance payments made during the financial year which will be offset against the related tax payables.Prepayments and accrued income amounted to 9,398 thousand Euro compared to 6,452 thousand Euro at 31 December 2023, and mainly relate to royalties and advertising expenses, prepaid insurance and other prepaid expenses. The increase of the period is related to the deferral of a commission paid for the early renewal of a license contract.Other current receivables amounted to 11,187 thousand Euro, compared to 6,689 thousand Euro of 31 December 2023. The balance mainly includes deposit payments due within 12 months and other receivables related to the ordinary business. The increase is mainly due to the reclassification from long-term receivables of the residual balance of the cash consideration for the disposal of the office real estate near the Padua Headquarters, finalised in 2021 collected through monthly instalments along a four year payment period within 2025 according to the contract.These other current receivables are expected to be recovered in the coming months and are reasonably certain in term of fulfillment conditions. It is considered that the book value of the other current assets is approximately equal to their fair value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__102": {
"value": "4.6 TANGIBLE ASSETSThe table below summarises the changes in the tangible assets:(Euro/000) January 1, Increase Decrease Reclass. Transl. diff. December 31, 20242024Gross value Land and buildings 107,669 3,399 (507) (2,334) 1,344 109,571 Plant and machinery 133,574 2,261 (4,721) - 1,050 132,165 Equipment and other assets 121,301 5,926 (14,501) 2,318 2,851 117,895 Advance payments - - - - - -Total 362,545 11,587 (19,729) (16) 5,245 359,631Accumulated depreciation Land and buildings 56,341 3,664 (507) 230 686 60,414 Plant and machinery 115,724 3,812 (4,594) (970) 818 114,791 Equipment and other assets 101,730 7,432 (14,523) 729 2,184 97,552 Total 273,795 14,908 (19,624) (10) 3,688 272,757Net value 88,750 (3,321) (105) (6) 1,557 86,874 (Euro/000) January 1, Increase Decrease Reclass. Reclass assets Transl. December 31, 2023held for salediff.2023Gross value Land and buildings 121,200 2,305 (14) (845) (13,162) (1,815) 107,669 Plant and machinery 176,106 1,385 (2,910) 418 (39,756) (1,668) 133,574 Equipment and other assets 122,299 6,838 (628) 474 (4,356) (3,325) 121,301 Advance payments 65 - (18) (47) - - - Total 419,670 10,527 (3,571) - (57,274) (6,808) 362,545Accumulated depreciation Land and buildings 61,078 5,102 (3) 17 (9,072) (781) 56,341 Plant and machinery 149,674 5,506 (2,405) - (35,824) (1,227) 115,724 Equipment and other assets 99,830 9,936 (591) (17) (4,756) (2,672) 101,730 Total 310,582 20,544 (2.999) - (49,652) (4,680) 273,795Net value 109,088 (10,017) (572) - (7,622) (2,128) 88,750 Tangible assets in the financial period record an increase for new investments equal to 11,587 thousand Euro, a decrease for depreciation and write-down equal to 14,908 thousand Euro, a net decrease for disposal equal to 105 thousand Euro.Investments in tangible assets in the financial period equal to 11,587 thousand Euro (10,527 thousand Euro in the previous year), are related to:\u2022 uro 5,243 thousand in the production facilities, mainly for the purchase and production of equipment for new models;\u2022 uro 3,366 thousand in the U.S. companies, mainly for improvements in the Denver distribution centre;\u2022 uro 2,065 thousand for improvements in the Italian headquarter facilities and distribution centre logistic equipment;\u2022 the remaining part in the other companies of the Group.On the base of the analyses performed, management believes that for the tangible assets on hand as at 31 December 2024 there are no indicators of loss of value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__101": {
"value": "4.6 TANGIBLE ASSETSThe table below summarises the changes in the tangible assets:(Euro/000) January 1, Increase Decrease Reclass. Transl. diff. December 31, 20242024Gross value Land and buildings 107,669 3,399 (507) (2,334) 1,344 109,571 Plant and machinery 133,574 2,261 (4,721) - 1,050 132,165 Equipment and other assets 121,301 5,926 (14,501) 2,318 2,851 117,895 Advance payments - - - - - -Total 362,545 11,587 (19,729) (16) 5,245 359,631Accumulated depreciation Land and buildings 56,341 3,664 (507) 230 686 60,414 Plant and machinery 115,724 3,812 (4,594) (970) 818 114,791 Equipment and other assets 101,730 7,432 (14,523) 729 2,184 97,552 Total 273,795 14,908 (19,624) (10) 3,688 272,757Net value 88,750 (3,321) (105) (6) 1,557 86,874 (Euro/000) January 1, Increase Decrease Reclass. Reclass assets Transl. December 31, 2023held for salediff.2023Gross value Land and buildings 121,200 2,305 (14) (845) (13,162) (1,815) 107,669 Plant and machinery 176,106 1,385 (2,910) 418 (39,756) (1,668) 133,574 Equipment and other assets 122,299 6,838 (628) 474 (4,356) (3,325) 121,301 Advance payments 65 - (18) (47) - - - Total 419,670 10,527 (3,571) - (57,274) (6,808) 362,545Accumulated depreciation Land and buildings 61,078 5,102 (3) 17 (9,072) (781) 56,341 Plant and machinery 149,674 5,506 (2,405) - (35,824) (1,227) 115,724 Equipment and other assets 99,830 9,936 (591) (17) (4,756) (2,672) 101,730 Total 310,582 20,544 (2.999) - (49,652) (4,680) 273,795Net value 109,088 (10,017) (572) - (7,622) (2,128) 88,750 Tangible assets in the financial period record an increase for new investments equal to 11,587 thousand Euro, a decrease for depreciation and write-down equal to 14,908 thousand Euro, a net decrease for disposal equal to 105 thousand Euro.Investments in tangible assets in the financial period equal to 11,587 thousand Euro (10,527 thousand Euro in the previous year), are related to:\u2022 uro 5,243 thousand in the production facilities, mainly for the purchase and production of equipment for new models;\u2022 uro 3,366 thousand in the U.S. companies, mainly for improvements in the Denver distribution centre;\u2022 uro 2,065 thousand for improvements in the Italian headquarter facilities and distribution centre logistic equipment;\u2022 the remaining part in the other companies of the Group.On the base of the analyses performed, management believes that for the tangible assets on hand as at 31 December 2024 there are no indicators of loss of value.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__103-1": {
"value": "4.7 RIGHT OF USE ASSETSThe table below summarises the changes in the Right of Use assets, mainly related to real estate rent contracts and to long term operating lease contracts for company cars.(Euro/000) January 1, 2024 Increase Decrease Transl. diff. December 31, 2024Gross value Buildings Right of Use 56,031 10,360 (8,545) 2,385 60,231 Other assets Right of Use 8,568 3,156 (1,916)(65) 9,744 Total 64,599 13,516 (10,461) 2,320 69,974Accumulated depreciation Buildings Right of Use 26,738 8,167 (7,775) 1,164 28,293 Other assets Right of Use 3,874 2,475 (1,712) (34) 4,602 Total 30,611 10,642 (9,488) 1,130 32,895Net value 33,988 2,874 (973) 1,190 37,079 (Euro/000) January 1, 2023 Increase Decrease Transl. diff. December 31, 2023Gross value Buildings Right of Use 58,742 3,748 (4,908) (1,552) 56,031 Other assets Right of Use 8,127 2,869 (2,351) (77) 8,568 Total 66,869 6,617 (7,258) (1,629) 64,599Accumulated depreciation Buildings Right of Use 24,074 8,120 (4,836) (620) 26,738 Other assets Right of Use 3,798 2,225 (2,100) (50) 3,874 Total 27,872 10,345 (6,936) (670) 30,611Net value 38,997 (3,728) (322) (959) 33,988 Investments in Right of Use in the financial period amount to 13,516 thousand Euro (6,617 thousand Euro in the previous year) related for the building to the ordinary renewal of some locations of the commercial subsidiaries and of the operating lease contracts for company cars.4.13 BORROWINGS AND LEASE LIABILITIESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Short-term portion of long-term bank loans 30,000 30,250Short-term borrowings 30,000 30,250Long-term bank loans 57,725 88,345Long-term borrowings 57,725 88,345Short-term portion of financial lease liability IFRS 16 10,438 9,643Long-term portion of financial lease liability IFRS 16 31,937 29,359Financial lease liability IFRS 16 42,376 39,002Total 130,101 157,597BorrowingsAt 31 December 2024 the Group has bank loans for a total amount of 87,725 thousand Euro of which 30,000 thousand Euro classified as short-term and 57,725 thousand Euro as long-term (118,595 thousand Euro as at 31 December 2023 of which 30,250 thousand Euro classified as short-term and 88,345 thousand Euro as long-term).The bank loans is equal to 90,000 thousand Euro related to the Term Loan Facility, it is carried at amortized cost, meaning that the total outstanding transaction costs are amortized along the duration of the facility and reported as reduction of the par values. This reduces the nominal amount of the facility by 2,275 thousand Euro, bringing the net value to 87,725 thousand Euro (118,595 thousand Euro as at 31 December 2023 of which 2,000 thousand Euro related to the partial drawn of the Capex Facility Line reimbursed and terminated during the period).The above Term Loan is part of the credit facility agreement signed by the Group on 29 September 2022 for a total original amount of Euro 300,000,000, maturing in September 2027 and consisting, at 31 December 2024, of a Term Loan Facility of Euro 90,000,000, and a Revolving Credit Facility of Euro 75,000,000 (undrawn, as also at 31 December 2023).In 2024 Safilo and the lending banks agreed upon the conversion of the 2022 credit facility into a sustainability-linked credit facility, adding ESG features and KPIs related to sustainable product innovation, planet care and supply-chain partnership, all in line with the Group sustainability strategy.This committed, unsubordinated and unsecured facility agreement is subject to customary operating and financial covenants, based on the ratio net debt/EBITDA adjusted. At 31 December 2024 the Group complies with all the outstanding covenants.In 2024 total interest expenses on borrowings are 8,379 thousand Euro (10,037 thousand Euro in 2023) of which figurative interest, calculated according to amortized cost method, are 1,130 thousand Euro (1,266 thousand in 2023).The Term Loan Facility, matures in September 2027, with a repayment profile in ten semi-annual instalments starting from June 2023. Here below we report the maturity analysis of the nominal value of the long-term bank loans, gross of 2,275 thousand Euro of transaction costs (3,405 thousand Euro in 2023):(Euro/000) December 31, 2024 December 31, 2023From 1 to 2 years 30,000 30,500From 2 to 3 years 30,000 30,500From 3 to 4 years - 30,750From 4 to 5 years - -Beyond 5 years - -Total 60,000 91,750 The Group, as at 31 December 2024, has no financial borrowings in currencies other than Euro, details on the Group\u2019s exposure to interest rate and liquidity risks arising from borrowings are set out in the paragraphs relating to risk management (see note 3).Financial Lease liabilityThe IFRS 16 financial lease liability, as at 31 December 2024, amounts to 42,376 thousand Euro of which 10,438 thousand Euro as short term, and 31,937 thousand Euro as long term (39,002 thousand Euro at 31 December 2023, of which 9,643 thousand Euro as short term, and 29,359 thousand Euro as long term). Here below we report the maturity analysis of the long term IFRS 16 financial lease liability:(Euro/000) December 31, 2024 December 31, 2023From 1 to 2 years 9,267 7,415From 2 to 3 years 7,417 6,221From 3 to 4 years 6,156 5,218From 4 to 5 years 5,613 4,465Beyond 5 years 3,485 6,041Total 31,937 29,359 Net Financial PositionThe following table shows the breakdown of net financial debt. This has been calculated consistently with the ESMA communication 32-382-1138 issued on 4 March 2021 implementing the European regulation UE 2017/1129 and in line with the CONSOB attention notice 5/21 of 29 April 2021.Net financial debt December 31, 2024 December 31, 2023 Change(Euro/000)A Cash 47,421 74,898 (27,477)B Cash equivalents - - -C Other current financial assets -- -D Liquidity (A + B + C) 47,421 74,898 (27,477)E Current financial debt (including debt instruments, but excluding - - -current portion of non-current financial debt)F Current portion of non-current financial debt (40,438) (39,893) (545)G Current financial indebtedness (E + F ) (40,438) (39,893) (545)H Net current financial indebtedness (G - D) 6,983 35,005 (28,023)I Non-current financial debt (excluding current portion and debt (89,662) (117,704) 28,042instruments)J Debt instruments - - -K Non-current trade and other payables - - -L Non-current financial indebtedness (I + J + K) (89,662) (117,704) 28,042M Total financial indebtedness (H + L) (82,680) (82,699) 19The Group Net financial debt reported in the above table does not include the valuation of derivative financial instruments (positive for 4,871 thousand Euro as at 31 December 2024) and the liabilities for options on non-controlling interests described respectively in note 4.4 and 4.19 of this report.In compliance with the ESMA communication 32-382-1138 of 4 March 2021 and the Consob attention notice 5/21 of 29 April 2021, it is specified that at 31 December 2024 the indirect or contingent indebtedness of the Group, includes \"liabilities for options on non-controlling interests\u201d equal to 13,118 thousand of Euro as disclosed in note 4.19.In compliance with the same communication, it is specified that the balance sheet also presents a liability for \u201cemployee benefit obligations\u201d equal to 9,365 thousand Euro as disclosed in note 4.18, and \u201cprovisions for risks\u201d for a total of 15,771 thousand Euro as disclosed in note 4.17.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__105": {
"value": "The following table shows changes in intangible assets:(Euro/000) January 1, 2024 Increase Decrease Reclass. Transl. diff. December 31, 2024Gross value Software 101,275 1,340 (206) (36) 626 103,001 Trademarks and licenses 152,257 35,557 - - 6,041 193,855 Other intangible assets 31,493 280 - - 1,658 33,432 Total 285,026 37,178 (206) (36) 8,325 330,288 Accumulated depreciation Software 92,558 4,266 (206) - 630 97,248 Trademarks and licenses 58,674 9,258 - - 1,413 69,345 Other intangible assets 25,677 1,384 4 - 1,399 28,463 Total 176,909 14,908 (202) - 3,442 195,057Net value 108,117 22,270 (4) (36) 4,884 135,231 (Euro/000) January 1, Increase Decrease Reclass. Reclass. Transl. diff. December 31, 2023assets held 2023for sale.Gross value Software 100,520 1,705 (87) (9) (217) (638) 101,275 Trademarks and licenses 154,909 772 - - - (3,424) 152,257 Other intangible assets 32,387 343 (233) - - (1,004) 31,493 Total 287,817 2,820 (319) (9) (217) (5,066) 285,026 Accumulated depreciation Software 87,839 5,495 24 (9) (193) (598) 92,558 Trademarks and licenses 51,332 7,933 - - - (591) 58,674 Other intangible assets 15,653 10,904 (233) - - (648) 25,677 Total 154,824 24,332 (209) (9) (193) (1,836) 176,909Net value 132,993 (21,513) (110) - (24) (3,229) 108,117 Intangible assets in the financial period record an increase for new investments equal to 37,178 thousand Euro, a decrease for depreciation and write-down equal to 14,908 thousand Euro, a net decrease for disposal equal to 4 thousand Euro. The asset increase of the item \u201cTrademark and licenses\u201d is mainly related to the perpetual license agreement of David Beckham Eyewear signed on 2 May 2024. This license, in line with other home brands, is considered to have a definite useful lifetime.The item trademarks and licenses includes also the value of home brands acquired from third parties during business combinations and valued in the purchase price allocation of such transactions. These brands have a finite useful life and are amortized over a useful life between 15 and 20 years, determined on the basis of independent analyses and market benchmarks. On the base of the analyses performed, management believes that for the intangible assets on hand as at 31 December 2024 there are no indicators of loss of value.Investments of 3,754 thousand Euro (11,740 thousand Euro in the previous year) relating the implementation of cloud-based software-as-a-service (SaaS) agreements, have been expensed as EDP service costs, in line with the accounting policy introduced by the Group in 2021 to comply with the guidelines of the IFRIC agenda on SaaS arrangements published in April 2021.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__104": {
"value": "The following table shows changes in intangible assets:(Euro/000) January 1, 2024 Increase Decrease Reclass. Transl. diff. December 31, 2024Gross value Software 101,275 1,340 (206) (36) 626 103,001 Trademarks and licenses 152,257 35,557 - - 6,041 193,855 Other intangible assets 31,493 280 - - 1,658 33,432 Total 285,026 37,178 (206) (36) 8,325 330,288 Accumulated depreciation Software 92,558 4,266 (206) - 630 97,248 Trademarks and licenses 58,674 9,258 - - 1,413 69,345 Other intangible assets 25,677 1,384 4 - 1,399 28,463 Total 176,909 14,908 (202) - 3,442 195,057Net value 108,117 22,270 (4) (36) 4,884 135,231 (Euro/000) January 1, Increase Decrease Reclass. Reclass. Transl. diff. December 31, 2023assets held 2023for sale.Gross value Software 100,520 1,705 (87) (9) (217) (638) 101,275 Trademarks and licenses 154,909 772 - - - (3,424) 152,257 Other intangible assets 32,387 343 (233) - - (1,004) 31,493 Total 287,817 2,820 (319) (9) (217) (5,066) 285,026 Accumulated depreciation Software 87,839 5,495 24 (9) (193) (598) 92,558 Trademarks and licenses 51,332 7,933 - - - (591) 58,674 Other intangible assets 15,653 10,904 (233) - - (648) 25,677 Total 154,824 24,332 (209) (9) (193) (1,836) 176,909Net value 132,993 (21,513) (110) - (24) (3,229) 108,117 Intangible assets in the financial period record an increase for new investments equal to 37,178 thousand Euro, a decrease for depreciation and write-down equal to 14,908 thousand Euro, a net decrease for disposal equal to 4 thousand Euro. The asset increase of the item \u201cTrademark and licenses\u201d is mainly related to the perpetual license agreement of David Beckham Eyewear signed on 2 May 2024. This license, in line with other home brands, is considered to have a definite useful lifetime.The item trademarks and licenses includes also the value of home brands acquired from third parties during business combinations and valued in the purchase price allocation of such transactions. These brands have a finite useful life and are amortized over a useful life between 15 and 20 years, determined on the basis of independent analyses and market benchmarks. On the base of the analyses performed, management believes that for the intangible assets on hand as at 31 December 2024 there are no indicators of loss of value.Investments of 3,754 thousand Euro (11,740 thousand Euro in the previous year) relating the implementation of cloud-based software-as-a-service (SaaS) agreements, have been expensed as EDP service costs, in line with the accounting policy introduced by the Group in 2021 to comply with the guidelines of the IFRIC agenda on SaaS arrangements published in April 2021.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__108-1": {
"value": "Depreciation and amortization for tangible and intangible assets is allocated over the following income statement items:(Euro/000) Notes 2024 2023Cost of sales 5.2 8,256 13,737Selling and marketing expenses 5.3 3,344 3,756General and administrative expenses 5.418,216 27,384Amortization and depreciation 29,816 44,877Cost of sales - Right of Use depreciation 5.2 1,151 1,221Selling and marketing expenses - Right of Use depreciation 5.3 4,994 4,677General and administrative expenses - Right of Use depreciation 5.4 4,497 4,447Depreciation Right of Use - IFRS 16 10,642 10,345Total 40,458 55,222Amortization and depreciation decreased by 15,060 thousand Euro from 44,877 thousand Euro in the previous period to 29,816 thousand Euro in 2024. The Group has benefitted of a reduction in the ordinary amortization and depreciation due to the reshaping of the Group\u2019s industrial capacity following the disposal of the Longarone plant finalised in October 2023. In the previous year the item was affected by non- recurring assets write-downs in the item \u201ccost of sales\u201d equal to 4,147 thousand Euro related to the above disposal and in the item \u201cgeneral and administrative\u201d equal to 8,665 thousand Euro related to the partial write-down of some intangible assets identified in the purchase price allocation of a previous business combination. The Right of Use depreciations in 2024 are equal to 10,642 thousand Euro (10,345 thousand Euro in the previous year).5.2 COST OF SALESThis item breaks down as follows(Euro/000) 2024 2023Purchase of raw materials and finished goods 287,581 311,125Capitalisation of costs for increase in tangible assets (-) (2,075) (3,001)Change in inventories 25,718 22,652Wages and social security contributions 56,804 73,511Subcontracting costs 11,946 9,357Amortization and depreciation 8,256 13,737Depreciation Right of Use - IFRS 16 1,151 1,221Rental and operating leases 1,528 1,387Offset Rental and operating leases - IFRS 16 (1,260) (1,288)Utilities, security and cleaning 4,215 5,940Other industrial costs 6,572 4,355Total 400,435 438,997Cost of sales decreased by Euro 38,562 thousand (or 8.8%), from Euro 438,997 thousand in 2023, to Euro 400,435 thousand in 2024. Wages and social security contributions decreased by Euro 16,707 thousand (or 22.7%) from Euro 73,511 thousand to Euro 56,804 thousand in 2024, benefitting from the savings provided by the reshaping of the industrial capacity following the disposal of the Longarone plant finalised in October 2023. Amortization and depreciation decreased by Euro 5,481 thousand (or 39.9%) from Euro 13,737 thousand in 2023 to Euro 8,256 thousand in 2024. The decrease is due to the above reshaping of the Group\u2019s industrial capacity, in the previous year the item was affected by non-recurring tangible assets write-downs equal to 4,147 thousand Euro related to the above mentioned disposal.Changes in inventories can be broken down as follows:(Euro/000) 2024 2023Finished products 24,894 8,259Work-in-progress 297 1,682Raw materials 527 12,711Total 25,718 22,6525.3 SELLING AND MARKETING EXPENSESThis item breaks down as follows(Euro/000) 2024 2023Payroll and social security contributions 114,862 116,217Sales commissions 42,521 43,749Royalty expenses 61,30761,178Advertising and promotional costs 127,546 132,476Amortization and depreciation 3,344 3,756Depreciation Right of Use - IFRS 16 4,994 4,677Logistic costs 37,405 37,647Consultants fees 1,765 1,552Rental and operating leases 8,948 7,995Offset Rental and operating leases - IFRS 16 (5,964) (5,515)Utilities, security and cleaning 1,522 1,425Provision for risks 1,674 1,423Other sales and marketing expenses 23,666 22,199Total 423,590 428,780Selling and marketing expenses decreased by Euro 5,190 thousand (or 1.2%), from Euro 428,780 thousand in 2023 to Euro 423,590 thousand in 2024. This was mainly due to the decrease of payroll and social security contributions by Euro 1,355 thousand (or 1.2%) and of advertising and promotional costs by Euro 4,930 thousand (or 3.7%), partially offset by an increase of the other sales and marketing expenses by Euro 1,467 Euro (or 6.6%).5.4 GENERAL AND ADMINISTRATIVE EXPENSESThis item breaks down as follows: (Euro/000) 2024 2023Payroll and social security contributions 47,910 49,327Allowance and write-off of doubtful accounts 2,392 504Amortization and depreciation 18,217 27,384Depreciation Right of Use - IFRS 16 4,497 4,447Professional services 14,052 15,051Rental and operating leases 5,946 6,083Offset Rental and operating leases - IFRS 16 (5,080) (5,036)EDP costs 21,581 28,964Insurance costs 1,777 1,951Utilities, security and cleaning 3,235 3,412Taxes (other than on income) 1,147 1,035Other general and administrative expenses 5,292 4,959Total 120,965 138,080General and administrative expenses decreased by Euro 17,115 thousand (or 12.4%), from Euro 138,080 thousand in 2023 to Euro 120,965 thousand in 2024. This was mainly due to a decrease of EDP expenses by Euro 7,382 thousand (or 25.5%), from Euro 28,964 thousand in 2023 to Euro 21,581 thousand in 2024, following the conclusion of some EDP projects. The amortization and depreciation decreased by Euro 9,167 thousand (or 33.5%), from Euro 27,384 thousand in 2023 to Euro 18,217 thousand in 2024. In the previous period this item was affected by the non-recurring amortization of 8,665 thousand Euro related to the partial write-down of some intangible assets identified in the purchase price allocation of a previous business combination. Average number of employeesThe average number of employees by rank is shown below: 2024 2023Executives 80 85Clerks and middle management 2,057 2,054Factory workers 1,587 2,029Total 3,724 4,168The reduction of the average number of employees by 444 is mainly due to the restructuring of the Group\u2019s manufacturing footprint with the disposal of the Longarone production site at the end of October 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__107-1": {
"value": "Depreciation and amortization for tangible and intangible assets is allocated over the following income statement items:(Euro/000) Notes 2024 2023Cost of sales 5.2 8,256 13,737Selling and marketing expenses 5.3 3,344 3,756General and administrative expenses 5.418,216 27,384Amortization and depreciation 29,816 44,877Cost of sales - Right of Use depreciation 5.2 1,151 1,221Selling and marketing expenses - Right of Use depreciation 5.3 4,994 4,677General and administrative expenses - Right of Use depreciation 5.4 4,497 4,447Depreciation Right of Use - IFRS 16 10,642 10,345Total 40,458 55,222Amortization and depreciation decreased by 15,060 thousand Euro from 44,877 thousand Euro in the previous period to 29,816 thousand Euro in 2024. The Group has benefitted of a reduction in the ordinary amortization and depreciation due to the reshaping of the Group\u2019s industrial capacity following the disposal of the Longarone plant finalised in October 2023. In the previous year the item was affected by non- recurring assets write-downs in the item \u201ccost of sales\u201d equal to 4,147 thousand Euro related to the above disposal and in the item \u201cgeneral and administrative\u201d equal to 8,665 thousand Euro related to the partial write-down of some intangible assets identified in the purchase price allocation of a previous business combination. The Right of Use depreciations in 2024 are equal to 10,642 thousand Euro (10,345 thousand Euro in the previous year).5.3 SELLING AND MARKETING EXPENSESThis item breaks down as follows(Euro/000) 2024 2023Payroll and social security contributions 114,862 116,217Sales commissions 42,521 43,749Royalty expenses 61,30761,178Advertising and promotional costs 127,546 132,476Amortization and depreciation 3,344 3,756Depreciation Right of Use - IFRS 16 4,994 4,677Logistic costs 37,405 37,647Consultants fees 1,765 1,552Rental and operating leases 8,948 7,995Offset Rental and operating leases - IFRS 16 (5,964) (5,515)Utilities, security and cleaning 1,522 1,425Provision for risks 1,674 1,423Other sales and marketing expenses 23,666 22,199Total 423,590 428,780Selling and marketing expenses decreased by Euro 5,190 thousand (or 1.2%), from Euro 428,780 thousand in 2023 to Euro 423,590 thousand in 2024. This was mainly due to the decrease of payroll and social security contributions by Euro 1,355 thousand (or 1.2%) and of advertising and promotional costs by Euro 4,930 thousand (or 3.7%), partially offset by an increase of the other sales and marketing expenses by Euro 1,467 Euro (or 6.6%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__106-1": {
"value": "Depreciation and amortization for tangible and intangible assets is allocated over the following income statement items:(Euro/000) Notes 2024 2023Cost of sales 5.2 8,256 13,737Selling and marketing expenses 5.3 3,344 3,756General and administrative expenses 5.418,216 27,384Amortization and depreciation 29,816 44,877Cost of sales - Right of Use depreciation 5.2 1,151 1,221Selling and marketing expenses - Right of Use depreciation 5.3 4,994 4,677General and administrative expenses - Right of Use depreciation 5.4 4,497 4,447Depreciation Right of Use - IFRS 16 10,642 10,345Total 40,458 55,222Amortization and depreciation decreased by 15,060 thousand Euro from 44,877 thousand Euro in the previous period to 29,816 thousand Euro in 2024. The Group has benefitted of a reduction in the ordinary amortization and depreciation due to the reshaping of the Group\u2019s industrial capacity following the disposal of the Longarone plant finalised in October 2023. In the previous year the item was affected by non- recurring assets write-downs in the item \u201ccost of sales\u201d equal to 4,147 thousand Euro related to the above disposal and in the item \u201cgeneral and administrative\u201d equal to 8,665 thousand Euro related to the partial write-down of some intangible assets identified in the purchase price allocation of a previous business combination. The Right of Use depreciations in 2024 are equal to 10,642 thousand Euro (10,345 thousand Euro in the previous year).5.3 SELLING AND MARKETING EXPENSESThis item breaks down as follows(Euro/000) 2024 2023Payroll and social security contributions 114,862 116,217Sales commissions 42,521 43,749Royalty expenses 61,30761,178Advertising and promotional costs 127,546 132,476Amortization and depreciation 3,344 3,756Depreciation Right of Use - IFRS 16 4,994 4,677Logistic costs 37,405 37,647Consultants fees 1,765 1,552Rental and operating leases 8,948 7,995Offset Rental and operating leases - IFRS 16 (5,964) (5,515)Utilities, security and cleaning 1,522 1,425Provision for risks 1,674 1,423Other sales and marketing expenses 23,666 22,199Total 423,590 428,780Selling and marketing expenses decreased by Euro 5,190 thousand (or 1.2%), from Euro 428,780 thousand in 2023 to Euro 423,590 thousand in 2024. This was mainly due to the decrease of payroll and social security contributions by Euro 1,355 thousand (or 1.2%) and of advertising and promotional costs by Euro 4,930 thousand (or 3.7%), partially offset by an increase of the other sales and marketing expenses by Euro 1,467 Euro (or 6.6%).",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__109": {
"value": "The Group does not recognize as intangible assets the research and development costs related to both technological and production process developments and product design.During the year the Group incurred costs for research and development equal to 13,726 thousand Euro (14,000 thousand Euro in the previous year).",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__110": {
"value": "4.9 GOODWILL The item refers to goodwill which arose from the acquisitions in 2020 of Priv\u00e9 Revaux and Blenders. A single CGU has been identified, representing the whole Group, to which the entire amount of goodwill has been allocated: this allocation is consistent with the strategy underlying the acquisitions, that, beyond the acquisition of two new brands, will enable the whole Group to compete more effectively in the fast-growing digital sales and communication channels. The identification of a single CGU is consistent with the strategic vision that the directors have of the Group and reflects the way in which management monitors operations and makes decisions on the maintenance or sale of assets and with the high level of interdependence of the cash in flows of the Group. Strategy, goal setting, operations management, as well as reporting and incentive systems are managed at a corporate level, leaving to the local units deployment and tailoring to the specific market. The allocation to a single CGU is consistent with the approach adopted for the preparation of the previous year financial statements.The following table shows changes in Goodwill:(Euro/000) January 1, Increase Decrease Transl. diff. December 31, 20242024Goodwill 33,682 - - 2,143 35,825 (Euro/000) January 1, Increase Decrease Transl. diff. December 31, 20232023Goodwill 34,895 - - (1,213) 33,682 In 2024 the item recorded an increase of 2,143 thousand Euro due to foreign currency translation.Impairment testThe approach followed and the assumptions made to perform the impairment test are described below.For the unique identified CGU of the Group, the recoverable amount is based on its value in use determined based on estimated future cash flow projections. On 11 March 2025 the Board of Directors has approved the 2025-2029 Financial Projections that confirms the main goals and strategies defined in the Group Business Plan presented to the markets on 10 March 2023. For the purposes of the impairment test, these financial projections take the requirements of IAS 36 into consideration, specifically those that require that the estimate of future cash flows excludes those cash flows that are expected to arise from improving or enhancing asset performance. Accordingly, potential new acquisitions effect included in the Financial projection 2025-2029, have not been considered for the purposes of the impairment test. In estimating the growth in the plan period, the Group has taken into consideration both its own internal expectations as well as indications obtained from independent external sources.The main objectives and strategies underlying Safilo\u2019s 2025-2029 business plan are:\u2022 ales growth, which maximizes customer service and meets the needs of the different consumer segments;\u2022 argin expansion and a more flexible operating cost structure;\u2022 ositive cash flow generation that feeds and supports the Group's organic and external growth.The Group\u2019s strategies will continue to leverage two main enablers: \u2022 the end-to-end Digitalization of its business model, with the aim of transversally enhancing data analytics, optimizing processes, operations and time to market;\u2022 Sustainability roadmap in support of the Group\u2019s business targets, driven through an agenda of clear and shared objectives.The impairment test methodology used for the execution of the impairment test at the date of 31 December 2024 is consistent with the criteria used for the 2023 financial statements and considers the following factors:\u2022 anagement used the most recent information available to calculate the WACC (weighted average cost of capital), in particular: risk free rate, market risk premium, beta, specific risk premium for Safilo, Cost of debt (including lease liabilities), debt/equity structure. As recommended by regulators, the WACC has not been adjusted for the macroeconomic environment with uncertainties instead being reflected in the cash flows; \u2022 the growth rates for the years following the plan\u2019s horizon (\u201cg\u201d rate) have been analytically reviewed for each single country in which the Group operates in and have been adapted to the rate of inflation expected by analysts for 2029. To calculate the present value, the future cash flows thus obtained were discounted to their present value at a discount rate (WACC) as at the test\u2019s date of reference that took into account the specificities of each geography where the Group operates. The cash flows generated after the horizon considered were determined on the basis of perpetual growth rates considered adequate with reference to the economic conditions of the country of reference.The following table summarizes the WACC and \u201cg\u201d rates used by the Group for the impairment test: Key assumptions \"WACC\" discount rate Growth rate \"g\" December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023Safilo Group 10.0% 8.6% 2.1% 2.1%The impairment test carried out did not highlight any loss in value. Management has performed sensitivities to test the cover of Net Invested Capital based on different scenarios where key parameters like WACC and Free Cash Flows have been progressively modelled. With reference to the break-even level: to obtain an enterprise value equal to the net invested capital as of 31 December 2024, including goodwill, EBITDA and related cash flows could be reduced by around 40% or WACC could be increased by +4.5%. After completing the process described, management concluded that no impairment loss needs to be recognized at the date of 31 December 2024.Management has used the most reliable information available at this moment. In monitoring the goodwill value, management has taken into consideration also exogenous factors, such as the stock market capitalization., which is lower than the Group's net equity. The stock market valuation in general may be subject to different expectations and various fluctuations and hence in practice different valuation methods exist, such as those based on expected cash flows.Management believe that the assumptions incorporated in the Financial Projections 2025-2029 underlying the impairment test are reasonable and that the Group has the necessary skills and resources to meet planned goals.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__111": {
"value": "The approach followed and the assumptions made to perform the impairment test are described below.For the unique identified CGU of the Group, the recoverable amount is based on its value in use determined based on estimated future cash flow projections. On 11 March 2025 the Board of Directors has approved the 2025-2029 Financial Projections that confirms the main goals and strategies defined in the Group Business Plan presented to the markets on 10 March 2023. For the purposes of the impairment test, these financial projections take the requirements of IAS 36 into consideration, specifically those that require that the estimate of future cash flows excludes those cash flows that are expected to arise from improving or enhancing asset performance. Accordingly, potential new acquisitions effect included in the Financial projection 2025-2029, have not been considered for the purposes of the impairment test. In estimating the growth in the plan period, the Group has taken into consideration both its own internal expectations as well as indications obtained from independent external sources.The main objectives and strategies underlying Safilo\u2019s 2025-2029 business plan are:\u2022 ales growth, which maximizes customer service and meets the needs of the different consumer segments;\u2022 argin expansion and a more flexible operating cost structure;\u2022 ositive cash flow generation that feeds and supports the Group's organic and external growth.The Group\u2019s strategies will continue to leverage two main enablers: \u2022 the end-to-end Digitalization of its business model, with the aim of transversally enhancing data analytics, optimizing processes, operations and time to market;\u2022 Sustainability roadmap in support of the Group\u2019s business targets, driven through an agenda of clear and shared objectives.The impairment test methodology used for the execution of the impairment test at the date of 31 December 2024 is consistent with the criteria used for the 2023 financial statements and considers the following factors:\u2022 anagement used the most recent information available to calculate the WACC (weighted average cost of capital), in particular: risk free rate, market risk premium, beta, specific risk premium for Safilo, Cost of debt (including lease liabilities), debt/equity structure. As recommended by regulators, the WACC has not been adjusted for the macroeconomic environment with uncertainties instead being reflected in the cash flows; \u2022 the growth rates for the years following the plan\u2019s horizon (\u201cg\u201d rate) have been analytically reviewed for each single country in which the Group operates in and have been adapted to the rate of inflation expected by analysts for 2029. To calculate the present value, the future cash flows thus obtained were discounted to their present value at a discount rate (WACC) as at the test\u2019s date of reference that took into account the specificities of each geography where the Group operates. The cash flows generated after the horizon considered were determined on the basis of perpetual growth rates considered adequate with reference to the economic conditions of the country of reference.The following table summarizes the WACC and \u201cg\u201d rates used by the Group for the impairment test: Key assumptions \"WACC\" discount rate Growth rate \"g\" December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023Safilo Group 10.0% 8.6% 2.1% 2.1%The impairment test carried out did not highlight any loss in value. Management has performed sensitivities to test the cover of Net Invested Capital based on different scenarios where key parameters like WACC and Free Cash Flows have been progressively modelled. With reference to the break-even level: to obtain an enterprise value equal to the net invested capital as of 31 December 2024, including goodwill, EBITDA and related cash flows could be reduced by around 40% or WACC could be increased by +4.5%.",
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__112": {
"value": "4.10 INVESTMENTS IN OTHER COMPANIESThe item equal to 250 thousand Euro refers to the investment for the acquisition of a minority stake in Spaarkly, an italian digitally native company that specializes in developing innovative e-commerce solutions using augmented reality technologies.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__113": {
"value": "4.11 DEFERRED TAX ASSETS AND DEFERRED TAX LIABILITIESThe following table shows the amounts of deferred tax assets and liabilities, net of the write-downs applied: December 31, 2024 December 31, 2023Deferred tax assets 199,429 199,207Valuation Allowance (164,225) (163,887)Net deferred tax assets 35,204 35,320Deferred tax liabilities (10,377) (10,291)Total net 24,827 25,029The deferred tax assets, net of deferred tax liabilities, have been reviewed and reduced by a valuation allowance in relation to some Group companies to the extent it is no longer probable that sufficient taxable profit will be available to allow the benefit of part or all of the deferred tax assets to be utilized. The valuation allowance for deferred tax assets as of 31 December 2024 amounts to 164,225 thousand Euro (163,887 thousand Euro at 31 December 2023). This valuation allowance can be reversed in future years to the extent that it is probable that taxable profits will be available against which the deductible temporary differences and tax losses can be utilized.The table below provides details of the items generating temporary differences on which deferred tax assets and liabilities were calculated. Deferred tax assets Posted to (Euro/000) January 1, Income Statement Equity Reclass./Other Transl. diff. December 31, 2024changes2024- Tax losses carried forward 132,154 3,424 -(69)(513) 134,996- Inventories 20,743 412 --610 21,765- Taxed provisions 7,578 (1,084) (53)-(126) 6,315- Intangible assets 2,807 (68) -(494)4 2,249- Tangible assets 3,774 (350) -34523 3,792- Taxed financial interests 18,459 1,208 --2 19,669- Other temporary differences 13,692 (3,314) -17194 10,643- Total deferred tax assets 199,207 227 (53)(46)94 199,429- Valuation allowance of deferred (125,699) (5,685) -69716 (130,600)tax assets on tax losses- Valuation allowance of deferred (38,187) 4,570 4-(12) (33,625)tax assets on other temporary differences- Total allowance on deferred (163,887) (1,115) 469704 (164,225)tax assetsTotal net 35,320 (888) (49)23798 35,204Deferred tax liabilities Posted to (Euro/000) January 1, Income Statement Equity Reclass./Other Transl. diff. December 31, 2024changes2024- Depreciation differences 5,073 (1,181) -302210 4,404- Goodwill and Intangible assets 2,970 509 --211 3,690- Inventories 125 (10) --(8) 107- Receivables and payables 334 27 -13724 523- Other temporary differences 1,789 192 -(417)90 1,653Total 10,291 (464) -23527 10,377The table below shows the Group\u2019s total unused tax losses available for carry-forward by expiration date, the related deferred tax assets and the valuation allowance amounts. The deferred tax assets calculated on the tax losses available for carry-forward of some Group companies amount to a total of 134,996 thousand Euro. These deferred tax assets have been written down by a valuation allowance of 130,600 thousand Euro, since at present their recovery via the generation of future taxable profit is not considered probable.Expiration date (Euro/000) Tax losses Tax benefit2025 3,912 1,2882026 3,403 1,1202027 911 2912029 27 92030 749 2462031 369 1212032 8 32033 2 12034 11 4Unlimited 528,972 127,968Other tax losses relating local taxes:Various 3,944Total 538,364 134,996Valuation Allowance (-) (130,600)Total deferred tax assets on losses carried forward 4,397The following table shows deferred tax assets and liabilities split between the portion due within one year and the portion due after more than one year.(Euro/000) December 31, 2024 December 31, 2023Deferred tax assets- recoverable within one year 24,804 23,367- recoverable beyond one year 10,399 11,952Total 35,204 35,320Deferred tax liabilities- recoverable within one year (629) (462)- recoverable beyond one year (9,748) (9,829)Total (10,377) (10,291)Total net 24,827 25,029",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__114": {
"value": "4.12 OTHER NON\ue61bCURRENT ASSETSThe table below shows details of non-current assets:(Euro/000) December 31, 2024 December 31, 2023Long-term guarantee deposits 1,116 1,183Other long-term receivables 196 5,388Long-term tax receivables - 1,097Total 1,312 7,668Long-term guarantee deposits mainly refer to security deposits for leasing contracts related to buildings used by some of the Group\u2019s companies.Other long-term receivables decrease is mainly due to the reclassification to short-term receivables of the residual balance of the cash consideration for the disposal of the office real estate near the Padua Headquarters, finalised in 2021 collected through monthly instalments along a four years payment period within 2025 according to the contract. It is considered that the book value of the other non-current assets is approximately equal to their fair value.",
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"concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
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},
"f0__s7__6__115": {
"value": "4.13 BORROWINGS AND LEASE LIABILITIESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Short-term portion of long-term bank loans 30,000 30,250Short-term borrowings 30,000 30,250Long-term bank loans 57,725 88,345Long-term borrowings 57,725 88,345Short-term portion of financial lease liability IFRS 16 10,438 9,643Long-term portion of financial lease liability IFRS 16 31,937 29,359Financial lease liability IFRS 16 42,376 39,002Total 130,101 157,597BorrowingsAt 31 December 2024 the Group has bank loans for a total amount of 87,725 thousand Euro of which 30,000 thousand Euro classified as short-term and 57,725 thousand Euro as long-term (118,595 thousand Euro as at 31 December 2023 of which 30,250 thousand Euro classified as short-term and 88,345 thousand Euro as long-term).The bank loans is equal to 90,000 thousand Euro related to the Term Loan Facility, it is carried at amortized cost, meaning that the total outstanding transaction costs are amortized along the duration of the facility and reported as reduction of the par values. This reduces the nominal amount of the facility by 2,275 thousand Euro, bringing the net value to 87,725 thousand Euro (118,595 thousand Euro as at 31 December 2023 of which 2,000 thousand Euro related to the partial drawn of the Capex Facility Line reimbursed and terminated during the period).The above Term Loan is part of the credit facility agreement signed by the Group on 29 September 2022 for a total original amount of Euro 300,000,000, maturing in September 2027 and consisting, at 31 December 2024, of a Term Loan Facility of Euro 90,000,000, and a Revolving Credit Facility of Euro 75,000,000 (undrawn, as also at 31 December 2023).In 2024 Safilo and the lending banks agreed upon the conversion of the 2022 credit facility into a sustainability-linked credit facility, adding ESG features and KPIs related to sustainable product innovation, planet care and supply-chain partnership, all in line with the Group sustainability strategy.This committed, unsubordinated and unsecured facility agreement is subject to customary operating and financial covenants, based on the ratio net debt/EBITDA adjusted. At 31 December 2024 the Group complies with all the outstanding covenants.In 2024 total interest expenses on borrowings are 8,379 thousand Euro (10,037 thousand Euro in 2023) of which figurative interest, calculated according to amortized cost method, are 1,130 thousand Euro (1,266 thousand in 2023).The Term Loan Facility, matures in September 2027, with a repayment profile in ten semi-annual instalments starting from June 2023. Here below we report the maturity analysis of the nominal value of the long-term bank loans, gross of 2,275 thousand Euro of transaction costs (3,405 thousand Euro in 2023):(Euro/000) December 31, 2024 December 31, 2023From 1 to 2 years 30,000 30,500From 2 to 3 years 30,000 30,500From 3 to 4 years - 30,750From 4 to 5 years - -Beyond 5 years - -Total 60,000 91,750 The Group, as at 31 December 2024, has no financial borrowings in currencies other than Euro, details on the Group\u2019s exposure to interest rate and liquidity risks arising from borrowings are set out in the paragraphs relating to risk management (see note 3).Financial Lease liabilityThe IFRS 16 financial lease liability, as at 31 December 2024, amounts to 42,376 thousand Euro of which 10,438 thousand Euro as short term, and 31,937 thousand Euro as long term (39,002 thousand Euro at 31 December 2023, of which 9,643 thousand Euro as short term, and 29,359 thousand Euro as long term). Here below we report the maturity analysis of the long term IFRS 16 financial lease liability:(Euro/000) December 31, 2024 December 31, 2023From 1 to 2 years 9,267 7,415From 2 to 3 years 7,417 6,221From 3 to 4 years 6,156 5,218From 4 to 5 years 5,613 4,465Beyond 5 years 3,485 6,041Total 31,937 29,359 Net Financial PositionThe following table shows the breakdown of net financial debt. This has been calculated consistently with the ESMA communication 32-382-1138 issued on 4 March 2021 implementing the European regulation UE 2017/1129 and in line with the CONSOB attention notice 5/21 of 29 April 2021.Net financial debt December 31, 2024 December 31, 2023 Change(Euro/000)A Cash 47,421 74,898 (27,477)B Cash equivalents - - -C Other current financial assets -- -D Liquidity (A + B + C) 47,421 74,898 (27,477)E Current financial debt (including debt instruments, but excluding - - -current portion of non-current financial debt)F Current portion of non-current financial debt (40,438) (39,893) (545)G Current financial indebtedness (E + F ) (40,438) (39,893) (545)H Net current financial indebtedness (G - D) 6,983 35,005 (28,023)I Non-current financial debt (excluding current portion and debt (89,662) (117,704) 28,042instruments)J Debt instruments - - -K Non-current trade and other payables - - -L Non-current financial indebtedness (I + J + K) (89,662) (117,704) 28,042M Total financial indebtedness (H + L) (82,680) (82,699) 19The Group Net financial debt reported in the above table does not include the valuation of derivative financial instruments (positive for 4,871 thousand Euro as at 31 December 2024) and the liabilities for options on non-controlling interests described respectively in note 4.4 and 4.19 of this report.In compliance with the ESMA communication 32-382-1138 of 4 March 2021 and the Consob attention notice 5/21 of 29 April 2021, it is specified that at 31 December 2024 the indirect or contingent indebtedness of the Group, includes \"liabilities for options on non-controlling interests\u201d equal to 13,118 thousand of Euro as disclosed in note 4.19.In compliance with the same communication, it is specified that the balance sheet also presents a liability for \u201cemployee benefit obligations\u201d equal to 9,365 thousand Euro as disclosed in note 4.18, and \u201cprovisions for risks\u201d for a total of 15,771 thousand Euro as disclosed in note 4.17.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__117": {
"value": "4.14 TRADE PAYABLESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Trade payables for: Purchase of raw materials 16,959 25,055Purchase of finished goods 65,994 63,007Supplies from subcontractors 4,971 3,682Tangible and intangible assets 2,294 1,895Commissions 4,344 2,333Royalties 10,182 12,333Advertising and marketing costs 12,935 13,336Services 41,688 43,113Sales returns liabilities (Refund Liability) 5,896 7,353Total 165,261 172,107Sales returns liabilities refer to the amount accrued against the risk of returns of products sold and delivered to customers that, based on the relevant trade terms, might be returned. This sum is charged to the income statement and is deducted directly from sales. The refund liability refers to well identified items and customers and management has elements to estimate the liability with a high level of reliability.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__118": {
"value": "4.15 TA X PAYABLESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Income tax payables 4,971 14,120 VAT payables 4,483 4,463 Other taxes payables 4,402 4,799 Total 13,856 23,382At 31 December 2024 tax payables amounted to Euro 13,856 thousand (compared to Euro 23,382 thousand at 31 December 2023). Of this sum Euro 4,971 thousand refers to income tax for the period, Euro 4,483 thousand to VAT payables and Euro 4,402 thousand to taxes withheld, current and local taxes.The provision for the year\u2019s current income tax is shown in note 5.8 concerning income tax.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__120": {
"value": "4.16 OTHER CURRENT LIABILITIESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Payables to personnel and social security institutions 26,489 26,039 Agent fee payables 193 200 Payables to pension funds 982 1,109 Accrued advertising and sponsorship costs 870 743 Accrued interests on long-term loans 18 89 Other accruals and deferred income 15,495 8,563 Other current liabilities 3,767 4,030 Total 47,813 40,772Payables to personnel and social security institutions mainly refer to salaries and wages for December and for holidays accrued but not taken at the reporting date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__119": {
"value": "4.16 OTHER CURRENT LIABILITIESThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Payables to personnel and social security institutions 26,489 26,039 Agent fee payables 193 200 Payables to pension funds 982 1,109 Accrued advertising and sponsorship costs 870 743 Accrued interests on long-term loans 18 89 Other accruals and deferred income 15,495 8,563 Other current liabilities 3,767 4,030 Total 47,813 40,772Payables to personnel and social security institutions mainly refer to salaries and wages for December and for holidays accrued but not taken at the reporting date.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherCurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__122": {
"value": "4.17 PROVISIONSThis item breaks down as follows:(Euro/000) January 1, Increase Decrease Reclass Transl. diff. December 31, 20242024Product warranty provision 3,337 730 (409)(2,495) 6 1,169 Agents' severance indemnity 1,992 173 (214)-- 1,951 Other provisions for risks and charges 4,114 6,261 (6,108)-(11) 4,257 Provisions for risks - long term 9,443 7,165 (6,732)(2,495)(5) 7,376 Product warranty provision 1,989 118 (29) 2,495 101 4,674 Provision for corporate restructuring 597 541 (597)-- 541 Other provisions for risks and charges 6,431 40 (3,291)-(1) 3,179 Provisions for risks - short term 9,017 699 (3,918) 2,495 100 8,394 Total 18,460 7,864 (10,649)- 95 15,771 (Euro/000) January 1, Increase Decrease Reclass Transl. diff. December 31, 20232023Product warranty provision 5,706 366 (2,677)-(58) 3,337 Agents' severance indemnity 2,396 243 (647)-- 1,992 Other provisions for risks and charges 6,410 1,762 (1,812)(2,250) 5 4,114 Provisions for risks - long term 14,512 2,370 (5,136)(2,250)(53) 9,443Product warranty provision 2,167 2 (113)-(67) 1,989Provision for corporate restructuring 1,296 9,062 (9,760)-- 597 Other provisions for risks and charges 5,704 219 (1,740) 2,250 (1) 6,431Provisions for risks - short term 9,166 9,282 (11,613) 2,250 (68) 9,017Total 23,678 11,653 (16,749)-(121) 18,460 The product warranty provision was recorded against the costs to be incurred for the replacement of products sold before the balance sheet date, estimated on the base of historical information and of some statistical data regarding the nature, frequency and average cost of the warranty substitutions.The agents\u2019 severance indemnity was created against the risk deriving from the payment of indemnities in the case of termination of the agency agreement. This provision has been calculated based on existing laws at the balance sheet date considering all the future expected financial cash outflows. Provision for corporate restructuring includes the estimated liability arising from the reorganization projects under way, the balance at 31 December 2024 is related to some minor restructuring projects.Provisions for other risks and charges refer to the best estimate made by management of the liabilities to be recognized in relation to proceedings arisen against suppliers, tax authorities and other counterparts. The change of the period is mainly related to the additional accrual and the following utilization for the settlement of a litigation related to a terminated license agreement, to the accrual and partial settlement of the provision for a long term incentive plan and to some other litigations.The estimate of the above-mentioned allowances takes into account, where applicable, the opinion of legal consultants and other experts, the company\u2019s past experience and others\u2019 in similar situations, as well as the intention of the company to take further actions in each case. The provision in the consolidated financial statements is the sum of the individual accruals made by each company of the Group.The above-mentioned allowances are considered adequate to cover the existing risks.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__121": {
"value": "4.17 PROVISIONSThis item breaks down as follows:(Euro/000) January 1, Increase Decrease Reclass Transl. diff. December 31, 20242024Product warranty provision 3,337 730 (409)(2,495) 6 1,169 Agents' severance indemnity 1,992 173 (214)-- 1,951 Other provisions for risks and charges 4,114 6,261 (6,108)-(11) 4,257 Provisions for risks - long term 9,443 7,165 (6,732)(2,495)(5) 7,376 Product warranty provision 1,989 118 (29) 2,495 101 4,674 Provision for corporate restructuring 597 541 (597)-- 541 Other provisions for risks and charges 6,431 40 (3,291)-(1) 3,179 Provisions for risks - short term 9,017 699 (3,918) 2,495 100 8,394 Total 18,460 7,864 (10,649)- 95 15,771 (Euro/000) January 1, Increase Decrease Reclass Transl. diff. December 31, 20232023Product warranty provision 5,706 366 (2,677)-(58) 3,337 Agents' severance indemnity 2,396 243 (647)-- 1,992 Other provisions for risks and charges 6,410 1,762 (1,812)(2,250) 5 4,114 Provisions for risks - long term 14,512 2,370 (5,136)(2,250)(53) 9,443Product warranty provision 2,167 2 (113)-(67) 1,989Provision for corporate restructuring 1,296 9,062 (9,760)-- 597 Other provisions for risks and charges 5,704 219 (1,740) 2,250 (1) 6,431Provisions for risks - short term 9,166 9,282 (11,613) 2,250 (68) 9,017Total 23,678 11,653 (16,749)-(121) 18,460 The product warranty provision was recorded against the costs to be incurred for the replacement of products sold before the balance sheet date, estimated on the base of historical information and of some statistical data regarding the nature, frequency and average cost of the warranty substitutions.The agents\u2019 severance indemnity was created against the risk deriving from the payment of indemnities in the case of termination of the agency agreement. This provision has been calculated based on existing laws at the balance sheet date considering all the future expected financial cash outflows. Provision for corporate restructuring includes the estimated liability arising from the reorganization projects under way, the balance at 31 December 2024 is related to some minor restructuring projects.Provisions for other risks and charges refer to the best estimate made by management of the liabilities to be recognized in relation to proceedings arisen against suppliers, tax authorities and other counterparts. The change of the period is mainly related to the additional accrual and the following utilization for the settlement of a litigation related to a terminated license agreement, to the accrual and partial settlement of the provision for a long term incentive plan and to some other litigations.The estimate of the above-mentioned allowances takes into account, where applicable, the opinion of legal consultants and other experts, the company\u2019s past experience and others\u2019 in similar situations, as well as the intention of the company to take further actions in each case. The provision in the consolidated financial statements is the sum of the individual accruals made by each company of the Group.The above-mentioned allowances are considered adequate to cover the existing risks.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__123": {
"value": "4.18 EMPLOYEE BENEFIT OBLIGATIONSThis item breaks down as follows:(Euro/000) December 31, 2024 December 31, 2023Defined contribution plan 16 12 Defined benefit plan 9,349 9,722 Total 9,365 9,734During the financial years under analysis, the item related to defined benefit plans showed the following movements:(Euro/000) January 1, Addition Actuarial (gains)/Uses Transl. diff. December 31, 2024losses2024Defined benefit plan 9,722 624 (326) (655) (16) 9,349(Euro/000) January 1, Addition Actuarial (gains)/Uses Reclass. liabilities Transl. diff. December 31, 2023lossesheld for sale2023Defined benefit plan 13,959 976 287 (901) (4,579) (20) 9,722This item refers to different forms of defined benefit and defined contribution pension plans, in line with the local conditions and practices in the countries in which the Group carries out its business. The employee severance fund of Italian companies (\u201cTFR\u201d), which constitutes the main part of the balance related the defined benefit plan, has historically been considered to be a defined benefit plan. However, following the changes in legislation governing the employment severance fund introduced by Italian law no. 296 of 27 December 2006 (\u201cFinancial Law 2007\u201d) and subsequent Decrees and Regulations issued in the first months of 2007, Safilo Group, on the basis of generally agreed interpretations, has considered that the portion of the employee benefit liability accrued from 1 January 2007, whether transferred to selected pension funds or transferred to the treasury account established with INPS, is classified as a \u201cdefined contribution plan\u201d while the portion of the employee benefit liability accrued as of 31 December 2006 is classified as a \u201cdefined benefit plan\u201d requiring actuarial valuations that exclude future increases in salaries. The employee severance fund of Italian companies (\u201cTFR\u201d) has no plan assets at its service.Actuarial estimates used for calculating the employee severance liability accrued up to 31 December 2006 are based on a system of assumptions based on demographic parameters, economic parameters and financial parameters. The demographic parameters are normally summarized in tables based on samples from different institutes (ISTAT, INAIL, INPS, Italian General Accounts Office, etc.). The economic parameters principally refer to long-term inflation rates and the financial yield rate, crucial for the valuation of amounts accrued in the reserve for termination benefits. The main financial parameter is given by the discount rate. The annual discount rate used to calculate the present value of the obligation was derived by the Iboxx Corporate AA index with a duration comparable to the duration of the collective of workers covered by the assessment.The principal assumptions used for the purpose of the actuarial valuations as at 31 December 2024 and 31 December 2023 are summarized here follow:2024 2023Discount rate 3.18% 3.08%In\ufb02ation rate 2.00% 2.00%Rate of benefit increase 3.00% 3.00%Below depicts the sensitivity of the Group\u2019s defined benefit obligations to changes in the principal assumptions.(Euro/000)Change Increase DecreaseAssumptionIn\ufb02ation 1,00% 322 (315)Discount rate 1,00% (489) 535 Life expectancy 1 year (9) 9 The amounts related to defined benefit plans recorded in the statement of comprehensive income can be divided as follows:(Euro/000) 2024 2023Service cost (366) (552)Interest cost (258) (424)Actuarial gain/(loss) 326 (287)Total (298) (1,262)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__125": {
"value": "4.19 LIABILITIES FOR OPTIONS ON NON\ue61bCONTROLLING INTERESTSThis item breaks down as follows:(Euro/000) January 1, 2024 Increase Decrease Transl. diff. December 31, 2024Long term - liabilities for options on non-controlling 20,770 - (8,613) 961 13,118 interestsThe amount equal to 13,118 thousand Euro of long-term liability refers to the put and call options liability on the non-controlling interests of the business combinations finalised in 2020 in Priv\u00e9 Goods LLC and Blenders Eyewear LLC. Pursuant to the contractual terms the non-controlling interests held by the minority equity holders of these two investments are subject to customary reciprocal put and call options. More specifically, the put and call options were to be exercised in each of the years 2023 and 2024 for one third of the minority interests and in 2025 for the remaining portions. In March 2023, the Group has agreed an extension of the second and third tranche of the put and call options on the non-controlling interest in Blenders, from 2024 and 2025 to 2026 and 2027 respectively.During the period the put and call option fair value liability has been reperformed on the basis of updated business plans recording a decrease equal to 8,613 thousand Euro reported as financial income in the item \u201cGains/(losses) for options on non-controlling interests\u201d in the income statement.Furthermore, the value of the liability was adjusted for a translation difference due to the Euro/US exchange rate fluctuation and for the accretion consequent to the financial discounting of the long-term debt.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestsInOtherEntitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__124-1": {
"value": "4.19 LIABILITIES FOR OPTIONS ON NON\ue61bCONTROLLING INTERESTSThis item breaks down as follows:(Euro/000) January 1, 2024 Increase Decrease Transl. diff. December 31, 2024Long term - liabilities for options on non-controlling 20,770 - (8,613) 961 13,118 interestsThe amount equal to 13,118 thousand Euro of long-term liability refers to the put and call options liability on the non-controlling interests of the business combinations finalised in 2020 in Priv\u00e9 Goods LLC and Blenders Eyewear LLC. Pursuant to the contractual terms the non-controlling interests held by the minority equity holders of these two investments are subject to customary reciprocal put and call options. More specifically, the put and call options were to be exercised in each of the years 2023 and 2024 for one third of the minority interests and in 2025 for the remaining portions. In March 2023, the Group has agreed an extension of the second and third tranche of the put and call options on the non-controlling interest in Blenders, from 2024 and 2025 to 2026 and 2027 respectively.During the period the put and call option fair value liability has been reperformed on the basis of updated business plans recording a decrease equal to 8,613 thousand Euro reported as financial income in the item \u201cGains/(losses) for options on non-controlling interests\u201d in the income statement.Furthermore, the value of the liability was adjusted for a translation difference due to the Euro/US exchange rate fluctuation and for the accretion consequent to the financial discounting of the long-term debt.5.6 GAINS (LOSSES) ON LIABILITIES FOR OPTIONS ON NON\ue61bCONTROLLING INTERESTSThis item refers to the gain or loss deriving from the changes in the fair value of the liability related the put and call options on the non-controlling interests of the two business combinations finalized in the first half of 2020 (for more details see the note 4.19).As at 31 December 2024 the fair value of the liability has been reperformed on the basis of updated business plans recording a decrease equal to 8,613 thousand Euro reported as financial gain in this item of the income statement compared to a loss of 7,895 thousand Euro in the previous year, following the contractual extension of the second and third tranche of the put and call options on the non-controlling interest in Blenders, from 2024 and 2025 to 2026 and 2027 respectively.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__126": {
"value": "4.20 OTHER NON\ue61bCURRENT LIABILITIESMovements in the item were as follows:(Euro/000) January 1, 2024 Increase Decrease Transl. diff. December 31, 2024Other non current liabilities 2,653 4,860 - 22 7,535 The \u201cother non-current liabilities\u201d include the estimate of the tax liability equal to 3,008 thousand Euro (compared to 2,215 thousand Euro as at 31 December 2023) accrued according to the IFRIC 23, on the basis of the assessment of the limited uncertain tax treatment identified within the Group. The increase of the period is mainly related to the liability for the deferred part of the payment for the perpetual license agreement of David Beckham Eyewear.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__128-1": {
"value": "SHAREHOLDERS\u2019 EQUITYShareholders\u2019 equity is the value contributed by the shareholders of Safilo Group S.p.A. (the share capital and the share premium reserve), plus the value generated by the Group in terms of profit gained from its operations (profit carried forward and other reserves). On 31 December 2024, Group shareholders\u2019 equity totaled 413,070 thousand Euro versus Euro 379,200 thousand Euro on 31 December 2023.4.21 SHARE CAPITALAt 31 December 2024 the share capital of the Parent Company, Safilo Group S.p.A., amounts to Euro 384,872,713 consisting of no. 414,239,313 ordinary shares with no par value (413,745,466 ordinary shares as at 31 December 2023). In 2024 new ordinary shares equal to a number of 493,847 were issued, resulting from the execution of a share capital increase to the service of the stock option plan named \u201cStock Option Plan 2017 \u2013 2020\u201d and \u201cStock Option Plan 2020 \u2013 2022\u201d.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__127-1": {
"value": "SHAREHOLDERS\u2019 EQUITYShareholders\u2019 equity is the value contributed by the shareholders of Safilo Group S.p.A. (the share capital and the share premium reserve), plus the value generated by the Group in terms of profit gained from its operations (profit carried forward and other reserves). On 31 December 2024, Group shareholders\u2019 equity totaled 413,070 thousand Euro versus Euro 379,200 thousand Euro on 31 December 2023.4.22 SHARE PREMIUM RESERVEAt 31 December 2024, the share premium reserve of the parent company, Safilo Group S.p.A. totaled Euro 27,736,991 (compared to Euro 27,388,371 at the end of the previous year). The increase equal to Euro 348,620 is due to the above new shares issued.4.23 RETAINED EARNINGS AND OTHER RESERVESThis item includes both the reserves of the subsidiary companies generated after their inclusion in the consolidation area and the translation differences deriving from the translation into Euro of the financial statements of consolidated companies denominated in other currencies. During the year, the movements of the item \u201cretained earnings and other reserve\u201d mainly refer to:\u2022 n increase of 19,705 thousand Euro due to the translation differences coming from the translation of the subsidiaries\u2019 financial statements into Euro;\u2022 decrease of 11,794 thousand Euro mainly related to the treasury shares reserve. In the period from 1 July 2024 to 22 November 2024 Safilo Group S.p.A. purchased a total number of 11,000,000 of its ordinary shares, equal to approximately 2.66% of the outstanding shares for an overall consideration of approximately Euro 11.8 million and at the weighted average price of approximately Euro 1.07. The purchase program has been authorized by the Shareholders\u2019 Meeting held on 24 April 2024 to be used to service the 2023-2025 Stock Option Plan of Safilo Group S.p.A. and Safilo S.p.A. as well as any stock incentive plans that may be approved in the future.\u2022 n increase of 1,564 thousand Euro related to the cost of the period of the stock option plans in place;\u2022 n increase of 277 thousand Euro due to the actuarial valuation, net of the tax effect, of the employee termination indemnities of defined benefit plans;The Group has distributed dividends to the minority interests of the subsidiary Blenders Eyewear LLC equal to 763 thousand Euro, this amount has reduced the equity related to the non-controlling interests.4.24 CASH FLOW HEDGE RESERVEThe cash flow hedge reserve equal to a negative balance of 46 thousand Euro refers to the current value of derivative instruments related to interest rate swap contracts that cover the variable interest rate risk on future financial interest payments.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__130-1": {
"value": "4.21 SHARE CAPITALAt 31 December 2024 the share capital of the Parent Company, Safilo Group S.p.A., amounts to Euro 384,872,713 consisting of no. 414,239,313 ordinary shares with no par value (413,745,466 ordinary shares as at 31 December 2023). In 2024 new ordinary shares equal to a number of 493,847 were issued, resulting from the execution of a share capital increase to the service of the stock option plan named \u201cStock Option Plan 2017 \u2013 2020\u201d and \u201cStock Option Plan 2020 \u2013 2022\u201d.4.22 SHARE PREMIUM RESERVEAt 31 December 2024, the share premium reserve of the parent company, Safilo Group S.p.A. totaled Euro 27,736,991 (compared to Euro 27,388,371 at the end of the previous year). The increase equal to Euro 348,620 is due to the above new shares issued.4.23 RETAINED EARNINGS AND OTHER RESERVESThis item includes both the reserves of the subsidiary companies generated after their inclusion in the consolidation area and the translation differences deriving from the translation into Euro of the financial statements of consolidated companies denominated in other currencies. During the year, the movements of the item \u201cretained earnings and other reserve\u201d mainly refer to:\u2022 n increase of 19,705 thousand Euro due to the translation differences coming from the translation of the subsidiaries\u2019 financial statements into Euro;\u2022 decrease of 11,794 thousand Euro mainly related to the treasury shares reserve. In the period from 1 July 2024 to 22 November 2024 Safilo Group S.p.A. purchased a total number of 11,000,000 of its ordinary shares, equal to approximately 2.66% of the outstanding shares for an overall consideration of approximately Euro 11.8 million and at the weighted average price of approximately Euro 1.07. The purchase program has been authorized by the Shareholders\u2019 Meeting held on 24 April 2024 to be used to service the 2023-2025 Stock Option Plan of Safilo Group S.p.A. and Safilo S.p.A. as well as any stock incentive plans that may be approved in the future.\u2022 n increase of 1,564 thousand Euro related to the cost of the period of the stock option plans in place;\u2022 n increase of 277 thousand Euro due to the actuarial valuation, net of the tax effect, of the employee termination indemnities of defined benefit plans;The Group has distributed dividends to the minority interests of the subsidiary Blenders Eyewear LLC equal to 763 thousand Euro, this amount has reduced the equity related to the non-controlling interests.4.24 CASH FLOW HEDGE RESERVEThe cash flow hedge reserve equal to a negative balance of 46 thousand Euro refers to the current value of derivative instruments related to interest rate swap contracts that cover the variable interest rate risk on future financial interest payments.4.25 STOCK OPTION PLANSAs at 31 December 2024 the Group has in place the following Stock Option Plans: 2017-2020, 2020-2022 and the 2023-2025 Plan.The first Plan was deliberated by the Ordinary Shareholders\u2019 meeting held on 26 April 2017, in which the Shareholders approved the issue of up to 2,500,000 (adjusted after the 2018 capital increase to 2,891,425) new ordinary shares to be offered to directors and/or employees of the Company and its subsidiaries.The 2020-2022 Plan was deliberated by the Ordinary Shareholders\u2019 Meeting held on 28 April 2020, in which the Shareholders approved the issue up to 7,000,000 new ordinary shares to be offered to directors and/or employees of the Company and its subsidiaries.The 2023-2025 Plan was deliberated by the Ordinary Shareholders\u2019 meeting held on 27 April 2023 in which the Shareholders approved the issue up to a maximum of 22,000,000 options (corresponding to a maximum number of 22,000,000 ordinary shares of the Company) in favour of executive directors who are also employees and other employees of the Company and/or other companies within the Group.Information relating to the tranches of the Stock Options Plans granted on 31 December 2024 are shown below: Grant date No. of options Fair value in Euro MaturityStock Option Plan 2017-2020Third tranche 30 April 2019 569,089 0.18 31 May 2027Stock Option Plan 2020-2022First tranche 31 July 2020 2,608,973 0.18 30 June 2028Second tranche 11 March 2021 2,884,280 0.27 30 June 2029Stock Option Plan 2023-2025First tranche 11 September 2023 6,990,000 0.28 30 June 2031Second tranche 14 March 2024 7,590,000 0.34 30 June 2032The fair value of the stock options was estimated on the vesting date based on the Black-Scholes model.The main market inputs of the model used are shown below: Share price at Exercise price in Expected volatility Free risk rategrant dateEuroStock Option Plan 2017-2020Third tranche 0.81 0.68 36.20% 0.087%Stock Option Plan 2020-2022First tranche 0.63 0.63 47.78% -0.392%Second tranche 0.93 0.87 45.67% -0.290%Stock Option Plan 2023-2025First tranche 0.93 0.97 38.20% 3.010%Second tranche 1.18 1.17 33.97% 2.550%The table below shows the changes in the stock option plans which occurred during the year No. of options Average exercise price in EuroStock Option Plan 2017-2020Outstanding at the beginning of the period 643,413 0.68 Granted - - Forfeited - - Exercised (74,324) 0.68 Expired - Outstanding at period-end 569,089 0.68 Stock Option Plan 2020-2022Outstanding at the beginning of the period 6,001,524 0.76 Granted - - Forfeited (88,748) 0.69 Exercised (419,523) 0.75 Expired - -Outstanding at period-end 5,493,253 0.76 Stock Option Plan 2023-2025Outstanding at the beginning of the period 7,640,000 0.97 No. of options Average exercise price in EuroGranted 7,790,000 1.17 Forfeited (850,000) 1.02 Exercised - - Expired - Outstanding at period-end 14,580,000 1.07 During the year, 493,847 options were exercised of which 74,324 of the Plan 2017-2020 and 419,523 of the Plan 2020-2022. Additionally, a total of 938,748 options were forfeited of which 88,748 of the Plan 2020-2022 and 850,000 of the Plan 2023-2025 and 7,790,000 options were granted.The options outstanding of the third tranche of the Plan 2017-2020, equal to 569,089 options, are exercisable until 31 May 2027, the first and the second tranche of the Plan 2020-2022, equal respectively to 2,608,973 and to 2,884,280 options, are exercisable until 30 June 2028 and 30 June 2029 respectively, the first and the second tranche of the Plan 2023-2025 equal respectively to 6,990,000 and 7,590,000 are exercisable until 30 June 2031 and 30 June 2032.At the date of the approval of these financial statements the options vested and exercisable still outstanding are the one related to the Plan 2017-2020 equal to 569,089 and to the Plan 2020-2022 equal to 5,493,253.The exercise price for the options of the third tranche of the Plan 2017-2020 is equal to 0.68 Euro with a remaining contract life of 2.4 years, for the first and the second tranche of the Plan 2020-2022 the exercise prices are equal to respectively 0.63 and 0.87 Euro with a remaining contract life of 3.5 and 4.5 years respectively, while for the first tranche and the second tranche of the Plan 2023-2025 the exercise prices is equal to respectively 0.97 and 1.17 Euro with a remaining contract life of 6.5 and 7.5 years.The adoption of these plans has affected the income statement for the period for a cost of 1,564 thousand Euro (459 thousand Euro in 2023).No changes or cancellations have been occurred on the above described Plans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__137": {
"value": "4.25 STOCK OPTION PLANSAs at 31 December 2024 the Group has in place the following Stock Option Plans: 2017-2020, 2020-2022 and the 2023-2025 Plan.The first Plan was deliberated by the Ordinary Shareholders\u2019 meeting held on 26 April 2017, in which the Shareholders approved the issue of up to 2,500,000 (adjusted after the 2018 capital increase to 2,891,425) new ordinary shares to be offered to directors and/or employees of the Company and its subsidiaries.The 2020-2022 Plan was deliberated by the Ordinary Shareholders\u2019 Meeting held on 28 April 2020, in which the Shareholders approved the issue up to 7,000,000 new ordinary shares to be offered to directors and/or employees of the Company and its subsidiaries.The 2023-2025 Plan was deliberated by the Ordinary Shareholders\u2019 meeting held on 27 April 2023 in which the Shareholders approved the issue up to a maximum of 22,000,000 options (corresponding to a maximum number of 22,000,000 ordinary shares of the Company) in favour of executive directors who are also employees and other employees of the Company and/or other companies within the Group.Information relating to the tranches of the Stock Options Plans granted on 31 December 2024 are shown below: Grant date No. of options Fair value in Euro MaturityStock Option Plan 2017-2020Third tranche 30 April 2019 569,089 0.18 31 May 2027Stock Option Plan 2020-2022First tranche 31 July 2020 2,608,973 0.18 30 June 2028Second tranche 11 March 2021 2,884,280 0.27 30 June 2029Stock Option Plan 2023-2025First tranche 11 September 2023 6,990,000 0.28 30 June 2031Second tranche 14 March 2024 7,590,000 0.34 30 June 2032The fair value of the stock options was estimated on the vesting date based on the Black-Scholes model.The main market inputs of the model used are shown below: Share price at Exercise price in Expected volatility Free risk rategrant dateEuroStock Option Plan 2017-2020Third tranche 0.81 0.68 36.20% 0.087%Stock Option Plan 2020-2022First tranche 0.63 0.63 47.78% -0.392%Second tranche 0.93 0.87 45.67% -0.290%Stock Option Plan 2023-2025First tranche 0.93 0.97 38.20% 3.010%Second tranche 1.18 1.17 33.97% 2.550%The table below shows the changes in the stock option plans which occurred during the year No. of options Average exercise price in EuroStock Option Plan 2017-2020Outstanding at the beginning of the period 643,413 0.68 Granted - - Forfeited - - Exercised (74,324) 0.68 Expired - Outstanding at period-end 569,089 0.68 Stock Option Plan 2020-2022Outstanding at the beginning of the period 6,001,524 0.76 Granted - - Forfeited (88,748) 0.69 Exercised (419,523) 0.75 Expired - -Outstanding at period-end 5,493,253 0.76 Stock Option Plan 2023-2025Outstanding at the beginning of the period 7,640,000 0.97 No. of options Average exercise price in EuroGranted 7,790,000 1.17 Forfeited (850,000) 1.02 Exercised - - Expired - Outstanding at period-end 14,580,000 1.07 During the year, 493,847 options were exercised of which 74,324 of the Plan 2017-2020 and 419,523 of the Plan 2020-2022. Additionally, a total of 938,748 options were forfeited of which 88,748 of the Plan 2020-2022 and 850,000 of the Plan 2023-2025 and 7,790,000 options were granted.The options outstanding of the third tranche of the Plan 2017-2020, equal to 569,089 options, are exercisable until 31 May 2027, the first and the second tranche of the Plan 2020-2022, equal respectively to 2,608,973 and to 2,884,280 options, are exercisable until 30 June 2028 and 30 June 2029 respectively, the first and the second tranche of the Plan 2023-2025 equal respectively to 6,990,000 and 7,590,000 are exercisable until 30 June 2031 and 30 June 2032.At the date of the approval of these financial statements the options vested and exercisable still outstanding are the one related to the Plan 2017-2020 equal to 569,089 and to the Plan 2020-2022 equal to 5,493,253.The exercise price for the options of the third tranche of the Plan 2017-2020 is equal to 0.68 Euro with a remaining contract life of 2.4 years, for the first and the second tranche of the Plan 2020-2022 the exercise prices are equal to respectively 0.63 and 0.87 Euro with a remaining contract life of 3.5 and 4.5 years respectively, while for the first tranche and the second tranche of the Plan 2023-2025 the exercise prices is equal to respectively 0.97 and 1.17 Euro with a remaining contract life of 6.5 and 7.5 years.The adoption of these plans has affected the income statement for the period for a cost of 1,564 thousand Euro (459 thousand Euro in 2023).No changes or cancellations have been occurred on the above described Plans.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__139": {
"value": "5.1 NET SALESThe Group\u2019s primary revenues are the selling of eyewear products in the wholesale channel through its subsidiary network and a network of independent distribution partners. Moreover, the Group sell its eyewear products directly to its customers through its online sales channel for some brands of its portfolio, mainly in the North America market.2024 Group sales amounted to 993,215 thousand Euro, showing a decrease of 3.1% compared to the previous year (1,024,732 thousand Euro). For a discussion on sales trends and the disaggregated sales by geographical regions, reference should be made to the report on operations section of the Group\u2019s economic results.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__140": {
"value": "5.2 COST OF SALESThis item breaks down as follows(Euro/000) 2024 2023Purchase of raw materials and finished goods 287,581 311,125Capitalisation of costs for increase in tangible assets (-) (2,075) (3,001)Change in inventories 25,718 22,652Wages and social security contributions 56,804 73,511Subcontracting costs 11,946 9,357Amortization and depreciation 8,256 13,737Depreciation Right of Use - IFRS 16 1,151 1,221Rental and operating leases 1,528 1,387Offset Rental and operating leases - IFRS 16 (1,260) (1,288)Utilities, security and cleaning 4,215 5,940Other industrial costs 6,572 4,355Total 400,435 438,997Cost of sales decreased by Euro 38,562 thousand (or 8.8%), from Euro 438,997 thousand in 2023, to Euro 400,435 thousand in 2024. Wages and social security contributions decreased by Euro 16,707 thousand (or 22.7%) from Euro 73,511 thousand to Euro 56,804 thousand in 2024, benefitting from the savings provided by the reshaping of the industrial capacity following the disposal of the Longarone plant finalised in October 2023. Amortization and depreciation decreased by Euro 5,481 thousand (or 39.9%) from Euro 13,737 thousand in 2023 to Euro 8,256 thousand in 2024. The decrease is due to the above reshaping of the Group\u2019s industrial capacity, in the previous year the item was affected by non-recurring tangible assets write-downs equal to 4,147 thousand Euro related to the above mentioned disposal.Changes in inventories can be broken down as follows:(Euro/000) 2024 2023Finished products 24,894 8,259Work-in-progress 297 1,682Raw materials 527 12,711Total 25,718 22,652",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__145": {
"value": "5.4 GENERAL AND ADMINISTRATIVE EXPENSESThis item breaks down as follows: (Euro/000) 2024 2023Payroll and social security contributions 47,910 49,327Allowance and write-off of doubtful accounts 2,392 504Amortization and depreciation 18,217 27,384Depreciation Right of Use - IFRS 16 4,497 4,447Professional services 14,052 15,051Rental and operating leases 5,946 6,083Offset Rental and operating leases - IFRS 16 (5,080) (5,036)EDP costs 21,581 28,964Insurance costs 1,777 1,951Utilities, security and cleaning 3,235 3,412Taxes (other than on income) 1,147 1,035Other general and administrative expenses 5,292 4,959Total 120,965 138,080General and administrative expenses decreased by Euro 17,115 thousand (or 12.4%), from Euro 138,080 thousand in 2023 to Euro 120,965 thousand in 2024. This was mainly due to a decrease of EDP expenses by Euro 7,382 thousand (or 25.5%), from Euro 28,964 thousand in 2023 to Euro 21,581 thousand in 2024, following the conclusion of some EDP projects. The amortization and depreciation decreased by Euro 9,167 thousand (or 33.5%), from Euro 27,384 thousand in 2023 to Euro 18,217 thousand in 2024. In the previous period this item was affected by the non-recurring amortization of 8,665 thousand Euro related to the partial write-down of some intangible assets identified in the purchase price allocation of a previous business combination. Average number of employeesThe average number of employees by rank is shown below: 2024 2023Executives 80 85Clerks and middle management 2,057 2,054Factory workers 1,587 2,029Total 3,724 4,168The reduction of the average number of employees by 444 is mainly due to the restructuring of the Group\u2019s manufacturing footprint with the disposal of the Longarone production site at the end of October 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralAndAdministrativeExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__147": {
"value": "The average number of employees by rank is shown below: 2024 2023Executives 80 85Clerks and middle management 2,057 2,054Factory workers 1,587 2,029Total 3,724 4,168The reduction of the average number of employees by 444 is mainly due to the restructuring of the Group\u2019s manufacturing footprint with the disposal of the Longarone production site at the end of October 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__150": {
"value": "5.5 OTHER OPERATING INCOME (EXPENSES)This item breaks down as follows(Euro/000) 2024 2023Losses on disposal of assets (259) (403)Other operating expenses (11,168) (16,842)Gains on disposal of assets 97 988Other operating income 2,492 5,043Total (8,839) (11,214)Other operating income and expenses include cost and revenue components either not related to the Group\u2019s ordinary operations or that are considered by management to be of non-recurring nature. The item \u201cother operating expenses\u201d is mainly related to the non-recurring costs (excluding the inventory obsolescence accruals and the write-down of the fixed assets) incurred for the termination of some exiting licensed brands and some other special project and restructuring expenses. During the previous year the item \u201cother operating expenses\u201d was mainly related to the non-recurring costs incurred for the disposal of Longarone plant to third parties.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__149": {
"value": "5.5 OTHER OPERATING INCOME (EXPENSES)This item breaks down as follows(Euro/000) 2024 2023Losses on disposal of assets (259) (403)Other operating expenses (11,168) (16,842)Gains on disposal of assets 97 988Other operating income 2,492 5,043Total (8,839) (11,214)Other operating income and expenses include cost and revenue components either not related to the Group\u2019s ordinary operations or that are considered by management to be of non-recurring nature. The item \u201cother operating expenses\u201d is mainly related to the non-recurring costs (excluding the inventory obsolescence accruals and the write-down of the fixed assets) incurred for the termination of some exiting licensed brands and some other special project and restructuring expenses. During the previous year the item \u201cother operating expenses\u201d was mainly related to the non-recurring costs incurred for the disposal of Longarone plant to third parties.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__148": {
"value": "5.5 OTHER OPERATING INCOME (EXPENSES)This item breaks down as follows(Euro/000) 2024 2023Losses on disposal of assets (259) (403)Other operating expenses (11,168) (16,842)Gains on disposal of assets 97 988Other operating income 2,492 5,043Total (8,839) (11,214)Other operating income and expenses include cost and revenue components either not related to the Group\u2019s ordinary operations or that are considered by management to be of non-recurring nature. The item \u201cother operating expenses\u201d is mainly related to the non-recurring costs (excluding the inventory obsolescence accruals and the write-down of the fixed assets) incurred for the termination of some exiting licensed brands and some other special project and restructuring expenses. During the previous year the item \u201cother operating expenses\u201d was mainly related to the non-recurring costs incurred for the disposal of Longarone plant to third parties.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__157": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__156": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__155": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__154": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__153": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__152": {
"value": "5.7 FINANCIAL CHARGES, NETThis item breaks down as follows(Euro/000) 2024 2023Nominal interest expenses on loans (7,250) (8,771)Figurative interest expenses on loans (1,130) (1,266)Interest expenses on operating leases - IFRS 16 (1,820) (1,745)Bank commissions (6,375) (7,379)Other financial charges (1,732) (1,425)Total financial charges (18,307) (20,586)Interest income 1,874 1,063Other financial income 2,868 2,737Total financial income 4,743 3,800Positive exchange rate differences 21,357 19,971Negative exchange rate differences (24,074) (22,407)Total exchange rate differences, net (2,717) (2,437)TOTAL FINANCIAL CHARGES, NET (16,281) (19,223)Total net financial charges decreased by Euro 2,941 thousand from Euro 19,223 thousand in 2023 to Euro 16,281 thousand in 2024. Excluding the accounting effect of the IFRS 16 interest expenses equal to Euro 1,820 thousand, interest on loans decreased by Euro 1,658 thousand, from Euro 10,037 thousand in 2023 to Euro 8,379 thousand in 2024, thanks to the partial reimbursements of the period of the long-term bank loans. The items \u201cfigurative interest expenses on loans\u201d is related to the additional figurative interest component calculated according to the amortised cost method on the basis of the effective interest rate including any transaction costs.Net exchange rate differences are equal to a loss of Euro 2,717 thousand in 2024 compared to a loss of Euro 2,437 thousand in 2023.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__158": {
"value": "5.8 INCOME TAXESThis item breaks down as follows(Euro/000) 2024 2023Current tax (9,474) (8,849)Deferred tax (424) 2,216Total (9,898) (6,633)Income taxes increased by 3,265 thousand Euro from 6,633 thousand Euro in 2023 to 9,898 thousand Euro in 2024.The taxes for the year can be reconciled with the theoretical taxes that would be expected at consolidated level as follows:(Euro/000) % 2024 % 2023Profit before taxation 100% 31,722 100% (19,456)Income tax benefit (expense) at statutory rate -24.0% (7,613) -24.0% 4,669Taxes relating to prior years 0.9% 298 -6.6% 1,286Foreign tax rate differential -4.4% (1,381) -5.7% 1,104Non taxable income 10.3% 3,278 2.4% (469)Non deductible costs -7.1% (2,262) 15.2% (2,957)Non-recognition of new DTAs and write-off of existing DTAs -29.9% (9,470) 101.4% (19,720)Benefit arising from unrecognized DTA of prior years 23.7% 7,507 -52.7% 10,250Deferred tax expense for changes in tax rate 0.3% 98 -0.6% 112Tax Credit and tax relief 0.7% 233 -0.1% 19Other differences -1.8% (586) 4.8% (926)Total -31.2% (9,898) 34.1% (6,633)Theoretical income taxes are calculated at 24.0 % on the consolidated result before tax. This percentage represents the statutory corporate income tax rate (IRES) applicable at the Italian holding company level.The Group effective tax rate for the year was equal to 31.2%, due to the return to a profit before tax at consolidated level and to a reduced impact of deferred tax assets derecognition compared to the previous year. Pillar Two Model Rules impactWith effect from 1 January 2024, Safilo Group, consolidated line-by-line in the consolidated financial statements of the HAL Group (whose Ultimate Parent Entity is HAL Trust), falls within the scope of the Global Minimum Tax (or \u201cGMT\u201d or \u201cPillar Two\u201d) application, enacted by the Council Directive (EU) 2022/2523, and enacted in Italy by the Legislative Decree 209/2023 (\u2018the Legislative Decree\u2019), aimed at ensuring a global minimum tax level for multinational groups of enterprises.Since Safilo Group S.p.A. and its subsidiaries are members of the Multinational Group of Enterprises of HAL Trust (\u201cHAL MNE Group\u201d, for the Pillar Two Global Minimum Tax purposes, Safilo Group S.p.A. qualifies as a Partially Owned Parent Entity (\u201cPOPE\u201d). In line with the requirements of IAS 12, paragraph 4.A, Safilo Group S.p.A. does not recognize or disclose information on deferred taxes and liabilities related to Pillar Two income taxes.Based on known or reasonably estimable information, Safilo Group's exposure to Pillar Two income taxes as of 31 December 2024, is estimated in Euro 57 thousand in the United Arab Emirates (UAE) jurisdiction, as contribution of Safilo Group to the aggregate amount of Top-up Tax actually due by the HAL MNE Group.It should be noted that the above estimation was made in accordance with the provisions of the Legislative Decree and with the OECD rules (i.e. GloBE Rules) concerning both the so-called \u201cTransitional CbCR Safe Harbours Tests\u201d and the \u201cGlobal Minimum Tax\u201d\u2019 (i.e., full compliance), with reference to Safilo Group as part of the HAL MNE Group. The main assumptions are summarized as follows:\u2022 Transitional CbCR Safe Harbour Tests\u201d: according to the Ministry of Economics and Finance Decree enacted pursuant to Article 39, paragraph 3 of the Legislative Decree, and in line with the OECD provision on Transitional Safe Harbours, the three tests provided for (i.e., De Minimis, Simplified ETR and Routine Profit Test) were applied in all jurisdictions in which HAL MNE Group and Safilo Group are present, also considering the economic figures (e.g., profit or loss before tax; current and deferred taxes; revenues), which can be referred to the other constituent entities, located therein, belonging to HAL MNE Group and including Safilo Group;\u2022 Global Minimum tax\u201d (or Top-up Tax (TuT) calculation): as a result of the aforementioned tests, the effective tax rate in the UAE resulted to be lower than the minimum required (i.e., 15%) and, therefore, the resulting contribution to the Top-up Tax was determined considering all Safilo Group constituent entities (different from excluded entities), located therein (i.e., jurisdictional blending). The full compliance calculation was determined assuming the relevant figures equal to the economic figures used for Transitional CbCR Safe Harbour Tests calculation and considering the positive impact of the Substance-based Income Exclusion.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__159": {
"value": "5.9 EARNINGS PER SHARE The calculation of basic and diluted earnings per share is shown in the tables below:Basic 2024 2023Profit/(Loss) for ordinary shares (in Euro/000) 22,296 (24,649)Average number of ordinary shares (in thousands) 414,008 413,733Earnings/(Losses) per share - basic (in Euro)0.054(0.060)Diluted 2024 2023Profit/(Loss) for ordinary shares (in Euro/000) 22,296 (24,649)Average number of ordinary shares (in thousands) 414,008 413,733Dilution effects: - stock option (in thousands) 2,432 3,553 Total 416,440 417,286Earnings/(Losses) per share - diluted (in Euro) 0.054 (0.059)",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__160": {
"value": "5.10 DIVIDENDSThe parent company Safilo Group S.p.A. did not distribute dividends to shareholders during the period.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__161": {
"value": "5.11 SEGMENT INFORMATIONFollowing the divestiture of the Group\u2019s retail operations in 2019, the Group considers a sole operating segment.Below we report the geographical segment information. It should be noted that the grouping by geographic area depends on the location of the registered head office of each Group company; therefore, the sales such identified are determined by origin of invoicing and not by target market as disclosed in the \u201cReport on Operations\u201d. Non-current assets do not include derivative financial instruments and deferred tax assets.Breakdown of revenues and non-current assets by geographic area Revenue from external customers Non-current assets(Euro/000) 2024 2023 December 31, December 31, 20242023(1)Italy203,691 213,610 105,795 83,274(2)Europe254,341 240,643 9,299 6,081(3)America485,748 517,078 157,198 157,462(4)Asia49,439 53,400 24,279 25,388Total 993,219 1,024,732 296,571 272,204(1) Operating companies with registered head office in Italy.(2) Operating companies with registered head office in European countries (other than Italy), United Arab Emirates and in South Africa.(3) Operating companies with registered head office in USA, Canada, Mexico and Brazil.(4) Operating companies with registered head office in the Far East, Australia and India.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__163": {
"value": "6. TRANSACTIONS WITH RELATED PARTIESIn compliance with applicable legislative and regulatory requirements, on 23 March 2007 the parent company\u2019s Board of Directors passed a resolution indicating and adopting a number of guidelines to govern transactions of major strategic, economic, capital or financial significance for the Company \u2013 including those undertaken with related parties. The aim of the guidelines is to establish competences and responsibilities concerning significant transactions and to assure their transparency and material and procedural correctness. Our notion of related party is based on the definition given in IAS 24.Following the resolution CONSOB 17221 of 12 March 2010, as amended by Resolution No. 17389 of 23 June 2010, the Board of Directors of 5 November 2010 approved the \"Regulations for the transactions with related parties\", which replaces those guidelines, by adopting procedures that ensure transparency and fairness and procedural related party transactions.The tables below shows the operating and financial figures determined by related party transactions as of 31 December 2024 and 31 December 2023.Related parties transactions Relationship December 31, 2024 December 31 2023(Euro/000)Receivables Companies controlled by HAL Holding N.V. (a) 318 382 HAL Investments B.V. (a)5 - Total 323 382Payables Companies controlled by HAL Holding N.V. (a) 66 23 HAL Investments B.V. (a) - 10 Total 66 33Related parties transactions Relationship 2024 2023(Euro/000)Revenues Companies controlled by HAL Holding N.V. (a) 1,005 1,287 Total 1,005 1,287Operating expenses Companies controlled by HAL Holding N.V. (a) 109 52 HAL Investments B.V. (a) 70 50 Total 179 102(a) Companies controlled by Group's reference ShareholderTransactions with related parties, including intercompany transactions, involve the purchase and sale of products and provision of services on an arm\u2019s length basis, similarly to what is done in transactions with third parties.With regards to the table above, the companies controlled by HAL Holding N.V. refers to transaction with a minor retail chain belonging the Group\u2019s reference shareholder.The remuneration of the Group\u2019s Directors, Statutory Auditors and Strategic Management is reported below:(Euro/000) 2024 2023Directors- Salaries and short term compensations 3,297 3,165- Non monetary benefits 36 35- Other compensations 88 88- Fair value of equity compensations 230 204Statutory auditors- Fixed compensations and compensations for participation in committees 243 243Managers with strategic responsabilities- Salaries ad short term compensations 493 446- Non monetary benefits 15 14- Other compensations 60 -- Fair value of equity compensations 109 25Total 4,572 4,221",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__162": {
"value": "6. TRANSACTIONS WITH RELATED PARTIESIn compliance with applicable legislative and regulatory requirements, on 23 March 2007 the parent company\u2019s Board of Directors passed a resolution indicating and adopting a number of guidelines to govern transactions of major strategic, economic, capital or financial significance for the Company \u2013 including those undertaken with related parties. The aim of the guidelines is to establish competences and responsibilities concerning significant transactions and to assure their transparency and material and procedural correctness. Our notion of related party is based on the definition given in IAS 24.Following the resolution CONSOB 17221 of 12 March 2010, as amended by Resolution No. 17389 of 23 June 2010, the Board of Directors of 5 November 2010 approved the \"Regulations for the transactions with related parties\", which replaces those guidelines, by adopting procedures that ensure transparency and fairness and procedural related party transactions.The tables below shows the operating and financial figures determined by related party transactions as of 31 December 2024 and 31 December 2023.Related parties transactions Relationship December 31, 2024 December 31 2023(Euro/000)Receivables Companies controlled by HAL Holding N.V. (a) 318 382 HAL Investments B.V. (a)5 - Total 323 382Payables Companies controlled by HAL Holding N.V. (a) 66 23 HAL Investments B.V. (a) - 10 Total 66 33Related parties transactions Relationship 2024 2023(Euro/000)Revenues Companies controlled by HAL Holding N.V. (a) 1,005 1,287 Total 1,005 1,287Operating expenses Companies controlled by HAL Holding N.V. (a) 109 52 HAL Investments B.V. (a) 70 50 Total 179 102(a) Companies controlled by Group's reference ShareholderTransactions with related parties, including intercompany transactions, involve the purchase and sale of products and provision of services on an arm\u2019s length basis, similarly to what is done in transactions with third parties.With regards to the table above, the companies controlled by HAL Holding N.V. refers to transaction with a minor retail chain belonging the Group\u2019s reference shareholder.The remuneration of the Group\u2019s Directors, Statutory Auditors and Strategic Management is reported below:(Euro/000) 2024 2023Directors- Salaries and short term compensations 3,297 3,165- Non monetary benefits 36 35- Other compensations 88 88- Fair value of equity compensations 230 204Statutory auditors- Fixed compensations and compensations for participation in committees 243 243Managers with strategic responsabilities- Salaries ad short term compensations 493 446- Non monetary benefits 15 14- Other compensations 60 -- Fair value of equity compensations 109 25Total 4,572 4,221",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__164": {
"value": "7. CONTINGENT LIABILITIESThe Group does not have any significant contingent liabilities not covered by adequate provisions. Nevertheless, as of the balance sheet date, various legal actions involving the parent company and certain Group companies were pending and mainly against sales representatives. These actions are considered to be groundless and/or their eventual negative outcome cannot be determined at this stage.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__166": {
"value": "8. COMMITMENTSLICENSING AGREEMENTSAt the balance sheet date, the Group had contracts in force with licensors for the production and sale of sunglasses and frames bearing their trademark. The contracts generally establish minimum guaranteed for royalties and advertising expenses.Commitments related to these minimum guaranteed, estimated on the basis of information available at the reporting date, are summarized detailed by maturity as follows:Licensing commitments December 31, 2024 December 31, 2023(Euro/000)within 1 year 70,645 75,682 between 1 and 3 years 140,095 147,502 between 3 and 5 years 134,311 128,418 beyond 5 years 89,662 156,059 Total 434,714 507,661",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__165": {
"value": "8. COMMITMENTSLICENSING AGREEMENTSAt the balance sheet date, the Group had contracts in force with licensors for the production and sale of sunglasses and frames bearing their trademark. The contracts generally establish minimum guaranteed for royalties and advertising expenses.Commitments related to these minimum guaranteed, estimated on the basis of information available at the reporting date, are summarized detailed by maturity as follows:Licensing commitments December 31, 2024 December 31, 2023(Euro/000)within 1 year 70,645 75,682 between 1 and 3 years 140,095 147,502 between 3 and 5 years 134,311 128,418 beyond 5 years 89,662 156,059 Total 434,714 507,661",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__167": {
"value": "9. SUBSEQUENT EVENTSSubsequent to 31 December 2024 through the approval date of this report, no significant events occurred which would have impacted the financial and economic results shown pursuant to IAS 10 - Events after the reporting period.",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__168-1": {
"value": "10. SIGNIFICANT NON\ue61bRECURRING EVENTS AND TRANSACTIONSAt the balance sheet date the Group did not undertake any significant non-recurring transactions pursuant to the Consob Communication dated 28 July 2006.11. TRANSACTIONS RESULTING FROM UNUSUAL AND/OR ABNORMAL OPERATIONSPursuant to Consob Communication of 28 July 2006, in 2024 the Group did not put in place any unusual and/or atypical operations, as defined in the said Communication.",
"dimensions": {
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"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"f0__s7__6__170": {
"value": "APPENDIXINFORMATION REQUESTED BY ART. 149\ue61bDUODECIES OF THE REGULATION ON ISSUERS ISSUED BY CONSOB The following table, prepared in accordance with Art. 149-duodecies of the Regulation on Issuers issued by Consob, reports the amount of fees charged in 2024 and 2023 relating to the audit and other audit related services rendered by the same Audit company. (Euro/000) Audit Company Safilo Group's company which received 2024 2023servicesAuditPricewaterhouseCoopers S.p.A. Holding Company - Safilo Group S.p.A. 177 170 PricewaterhouseCoopers S.p.A. Subsidaries 119 119 Network PricewaterhouseCoopers Subsidaries 1,016 1,096 AttestationPricewaterhouseCoopers S.p.A. Holding Company - Safilo Group S.p.A. 110 26 PricewaterhouseCoopers S.p.A. Subsidaries 14 19 Network PricewaterhouseCoopers Subsidaries 17 - Other servicesPricewaterhouseCoopers S.p.A. Holding Company - Safilo Group S.p.A. 80 - PricewaterhouseCoopers S.p.A.Subsidaries - - Network PricewaterhouseCoopers Subsidaries 6 - Total 1,538 1,430",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:81560026FA1A26642782",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}