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    "period": "2021-01-01T00:00:00",
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "unit": "iso4217:EUR"
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   "dimensions": {
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "unit": "iso4217:EUR"
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   "decimals": -3,
   "dimensions": {
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    "entity": "scheme:815600A9C09D82FF2B66",
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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   "decimals": -3,
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    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:BankOverdraftsClassifiedAsCashEquivalents",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
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   "decimals": -3,
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "unit": "iso4217:EUR"
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:IncomeTaxesPaidClassifiedAsOperatingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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   "value": "272000",
   "decimals": -3,
   "dimensions": {
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    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
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   "decimals": -3,
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    "concept": "ifrs-full:InterestReceivedClassifiedAsOperatingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "fact-300": {
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:InterestPaidClassifiedAsOperatingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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  },
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   "decimals": -3,
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "unit": "iso4217:EUR"
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    "unit": "iso4217:EUR"
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  },
  "fact-304": {
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   "decimals": -3,
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "ifrs-full:CategoriesOfRelatedPartiesAxis": "ifrs-full:RelatedPartiesMember",
    "unit": "iso4217:EUR"
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  },
  "fact-305": {
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   "decimals": -3,
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    "entity": "scheme:815600A9C09D82FF2B66",
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    "unit": "iso4217:EUR"
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  "fact-306": {
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   "decimals": -3,
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    "concept": "ema:AdjustmentsForDecreaseIncreaseInCurrentTaxAssets",
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   "decimals": -3,
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    "concept": "ema:AdjustmentsForDecreaseIncreaseInCurrentTaxAssets",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "fact-308": {
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   "decimals": -3,
   "dimensions": {
    "concept": "ema:AdjustmentsForIncreaseDecreaseInCurrentTaxLiabilities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
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   "decimals": -3,
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    "concept": "ema:AdjustmentsForIncreaseDecreaseInCurrentTaxLiabilities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
    "unit": "iso4217:EUR"
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    "concept": "ema:IncreaseDecreaseInFinancialAssetsClassifiedAsFinancingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
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    "unit": "iso4217:EUR"
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  "fact-312": {
   "value": "2002000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "ifrs-full:CategoriesOfRelatedPartiesAxis": "ifrs-full:RelatedPartiesMember",
    "unit": "iso4217:EUR"
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  "fact-313": {
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   "decimals": -3,
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    "concept": "ifrs-full:PaymentsOfLeaseLiabilitiesClassifiedAsFinancingActivities",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2021-01-01T00:00:00/2022-01-01T00:00:00",
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    "unit": "iso4217:EUR"
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  "fact-317": {
   "value": "1. Informazioni gen<span class=\"_ _1\"></span>erali <span class=\"ff2\"> </span>Emak S.<span class=\"_ _1\"></span>p.A. (di <span class=\"_ _1\"></span>seguito<span class=\"_ _1\"></span> \u201cEmak\u201d<span class=\"_ _1\"></span> o <span class=\"_ _1\"></span>la \u201cC<span class=\"_ _1\"></span>apogruppo\u201d) <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>societ\u00e0 <span class=\"_ _1\"></span>per az<span class=\"_ _1\"></span>ioni, con<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>ede legale <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>via F<span class=\"_ _1\"></span>ermi, <span class=\"_ _1\"></span>4,<span class=\"_ _26a\"> </span>a Bagnolo i<span class=\"_ _1\"></span>n Piano (R<span class=\"_ _1\"></span>E). E\u2019 quotata <span class=\"_ _1\"></span>sul merc<span class=\"_ _1\"></span>ato telematico <span class=\"_ _1\"></span>azionario it<span class=\"_ _1\"></span>aliano (MT<span class=\"_ _1\"></span>A) ed apparti<span class=\"_ _1\"></span>ene allo ST<span class=\"_ _1\"></span>AR<span class=\"_ _26a\"> </span>(Segmento Titoli ad A<span class=\"_ _1\"></span>lti Requisiti).<span class=\"_ _1\"></span> Emak <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _23\"> </span>sottoposta <span class=\"_ _21\"> </span>al <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>Yama <span class=\"_ _23\"> </span>S.p.A<span class=\"_ _1\"></span>., <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>partecipazion<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>finanziaria, <span class=\"_ _23\"> </span>la <span class=\"_ _23\"> </span>quale<span class=\"_ _26a\"> </span>detiene <span class=\"_ _21\"> </span>la <span class=\"_ _1e\"> </span>maggioranza <span class=\"_ _1e\"> </span>del <span class=\"_ _21\"> </span>suo <span class=\"_ _1e\"> </span>capitale <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>designa,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>ai <span class=\"_ _21\"> </span>sens<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>l<span class=\"_ _1\"></span>egge <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>statuto, <span class=\"_ _1e\"> </span>la <span class=\"_ _21\"> </span>ma<span class=\"_ _1\"></span>ggior <span class=\"_ _21\"> </span>parte <span class=\"_ _1e\"> </span>dei<span class=\"_ _26a\"> </span>Componenti <span class=\"_ _3\"></span>dei <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>uoi <span class=\"_ _2\"></span>Organ<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>Soci<span class=\"_ _1\"></span>ali. <span class=\"_ _2\"></span>Emak<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>S.p.<span class=\"_ _1\"></span>A. <span class=\"_ _3\"></span>non <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>tuttavia <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>oggetta <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>direzio<span class=\"_ _1\"></span>ne <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>coordin<span class=\"_ _1\"></span>amento <span class=\"_ _3\"></span>da <span class=\"_ _2\"></span>parte<span class=\"_ _26a\"> </span>di <span class=\"_ _3\"></span>Yama S.p.A. <span class=\"_ _3\"></span>ed il <span class=\"_ _2\"></span>suo Consiglio <span class=\"_ _3\"></span>di Amministrazione opera <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>e proprie <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>celte <span class=\"_ _3\"></span>strategich<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>ed operative <span class=\"_ _3\"></span>in piena<span class=\"_ _26a\"> </span>autonomia.<span class=\"_ _26a\"> </span>I valori nelle note so<span class=\"_ _1\"></span>no esposti in migliaia di<span class=\"_ _1\"></span> Euro, salvo diversa<span class=\"_ _1\"></span>men<span class=\"_ _1\"></span>te indicato.<span class=\"_ _1\"></span> Il Consiglio di Amministrazione di Emak S.p.A., in data 16 marzo <span class=\"_ _3\"></span>2023, ha approv<span class=\"_ _1\"></span>ato la <span class=\"_ _3\"></span>Rel<span class=\"_ _1\"></span>azione Finanziaria<span class=\"_ _26a\"> </span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _20\"></span>2022, <span class=\"_ _20\"></span>pred<span class=\"_ _1\"></span>isposta <span class=\"_ _20\"></span>anche <span class=\"_ _20\"></span>secondo <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>formato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>prev<span class=\"_ _1\"></span>isto <span class=\"_ _20\"></span>dal <span class=\"_ _20\"></span>Regol<span class=\"_ _1\"></span>amento <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>Commiss<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span>Europea <span class=\"_ _8\"></span>2018/815/UE <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span><span class=\"ff7\">European <span class=\"_ _8\"></span>Si<span class=\"_ _1\"></span>ngle <span class=\"_ _8\"></span>Electronic <span class=\"_ _1\"></span>F<span class=\"_ _1\"></span>ormat<span class=\"_ _1\"></span><span class=\"ff5\">) <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>ne <span class=\"_ _1\"></span>ha<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>isposto <span class=\"_ _8\"></span>l\u2019immediata <span class=\"_ _8\"></span>comun<span class=\"_ _1\"></span>icazione <span class=\"_ _8\"></span>ex<span class=\"_ _26a\"> </span></span></span>art. <span class=\"_ _3\"></span>154-ter, <span class=\"_ _3\"></span>comma <span class=\"_ _3\"></span>1-ter, TUF, <span class=\"_ _2\"></span>al Collegio <span class=\"_ _2\"></span>sindac<span class=\"_ _1\"></span>ale <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>alla <span class=\"_ _2\"></span>Soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>Revisione per <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>rispettive <span class=\"_ _3\"></span>incombenz<span class=\"_ _1\"></span>e.<span class=\"_ _26a\"> </span>Contestualmente <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>tale <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>municazione, <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>provvedut<span class=\"_ _1\"></span>o a <span class=\"_ _1\"></span>ren<span class=\"_ _1\"></span>dere <span class=\"_ _1\"></span>noti <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>ap<span class=\"_ _8\"></span>posito <span class=\"_ _1\"></span>comunicato <span class=\"_ _1\"></span>stam<span class=\"_ _1\"></span>pa <span class=\"_ _1\"></span>i d<span class=\"_ _1\"></span>ati<span class=\"_ _26a\"> </span>salienti <span class=\"_ _12\"> </span>della <span class=\"_ _27\"> </span>re<span class=\"_ _1\"></span>lazione <span class=\"_ _12\"> </span>finanziaria <span class=\"_ _12\"> </span>e <span class=\"_ _27\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>proposta <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>destin<span class=\"_ _1\"></span>azione <span class=\"_ _12\"> </span>dell\u2019utile <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>eserc<span class=\"_ _1\"></span>izio <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>sotto<span class=\"_ _1\"></span>pone<span class=\"_ _26a\"> </span>all\u2019approvazione dell<span class=\"_ _1\"></span>\u2019Assemblea degli Azio<span class=\"_ _1\"></span>nisti convocata per <span class=\"_ _1\"></span>il giorno 28 apri<span class=\"_ _1\"></span>le 2023.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Il bilancio separato e c<span class=\"_ _1\"></span>onsolid<span class=\"_ _1\"></span>ato sono sottopos<span class=\"_ _1\"></span>ti a revisione legale d<span class=\"_ _1\"></span>a parte di Del<span class=\"_ _1\"></span>oitte &amp; Touche S.p.A<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-316": {
   "value": "1. Informazioni gen<span class=\"_ _1\"></span>erali <span class=\"ff2\"> </span>Emak S.<span class=\"_ _1\"></span>p.A. (di <span class=\"_ _1\"></span>seguito<span class=\"_ _1\"></span> \u201cEmak\u201d<span class=\"_ _1\"></span> o <span class=\"_ _1\"></span>la \u201cC<span class=\"_ _1\"></span>apogruppo\u201d) <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>societ\u00e0 <span class=\"_ _1\"></span>per az<span class=\"_ _1\"></span>ioni, con<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>ede legale <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>via F<span class=\"_ _1\"></span>ermi, <span class=\"_ _1\"></span>4,<span class=\"_ _26a\"> </span>a Bagnolo i<span class=\"_ _1\"></span>n Piano (R<span class=\"_ _1\"></span>E). E\u2019 quotata <span class=\"_ _1\"></span>sul merc<span class=\"_ _1\"></span>ato telematico <span class=\"_ _1\"></span>azionario it<span class=\"_ _1\"></span>aliano (MT<span class=\"_ _1\"></span>A) ed apparti<span class=\"_ _1\"></span>ene allo ST<span class=\"_ _1\"></span>AR<span class=\"_ _26a\"> </span>(Segmento Titoli ad A<span class=\"_ _1\"></span>lti Requisiti).<span class=\"_ _1\"></span> Emak <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _23\"> </span>sottoposta <span class=\"_ _21\"> </span>al <span class=\"_ _23\"></span>controllo <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>Yama <span class=\"_ _23\"> </span>S.p.A<span class=\"_ _1\"></span>., <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>partecipazion<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>non <span class=\"_ _23\"></span>finanziaria, <span class=\"_ _23\"> </span>la <span class=\"_ _23\"> </span>quale<span class=\"_ _26a\"> </span>detiene <span class=\"_ _21\"> </span>la <span class=\"_ _1e\"> </span>maggioranza <span class=\"_ _1e\"> </span>del <span class=\"_ _21\"> </span>suo <span class=\"_ _1e\"> </span>capitale <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>designa,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>ai <span class=\"_ _21\"> </span>sens<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>l<span class=\"_ _1\"></span>egge <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>statuto, <span class=\"_ _1e\"> </span>la <span class=\"_ _21\"> </span>ma<span class=\"_ _1\"></span>ggior <span class=\"_ _21\"> </span>parte <span class=\"_ _1e\"> </span>dei<span class=\"_ _26a\"> </span>Componenti <span class=\"_ _3\"></span>dei <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>uoi <span class=\"_ _2\"></span>Organ<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>Soci<span class=\"_ _1\"></span>ali. <span class=\"_ _2\"></span>Emak<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>S.p.<span class=\"_ _1\"></span>A. <span class=\"_ _3\"></span>non <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>tuttavia <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>oggetta <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>direzio<span class=\"_ _1\"></span>ne <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>coordin<span class=\"_ _1\"></span>amento <span class=\"_ _3\"></span>da <span class=\"_ _2\"></span>parte<span class=\"_ _26a\"> </span>di <span class=\"_ _3\"></span>Yama S.p.A. <span class=\"_ _3\"></span>ed il <span class=\"_ _2\"></span>suo Consiglio <span class=\"_ _3\"></span>di Amministrazione opera <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>e proprie <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>celte <span class=\"_ _3\"></span>strategich<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>ed operative <span class=\"_ _3\"></span>in piena<span class=\"_ _26a\"> </span>autonomia.<span class=\"_ _26a\"> </span>I valori nelle note so<span class=\"_ _1\"></span>no esposti in migliaia di<span class=\"_ _1\"></span> Euro, salvo diversa<span class=\"_ _1\"></span>men<span class=\"_ _1\"></span>te indicato.<span class=\"_ _1\"></span> Il Consiglio di Amministrazione di Emak S.p.A., in data 16 marzo <span class=\"_ _3\"></span>2023, ha approv<span class=\"_ _1\"></span>ato la <span class=\"_ _3\"></span>Rel<span class=\"_ _1\"></span>azione Finanziaria<span class=\"_ _26a\"> </span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _20\"></span>2022, <span class=\"_ _20\"></span>pred<span class=\"_ _1\"></span>isposta <span class=\"_ _20\"></span>anche <span class=\"_ _20\"></span>secondo <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>formato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>prev<span class=\"_ _1\"></span>isto <span class=\"_ _20\"></span>dal <span class=\"_ _20\"></span>Regol<span class=\"_ _1\"></span>amento <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>Commiss<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span>Europea <span class=\"_ _8\"></span>2018/815/UE <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span><span class=\"ff7\">European <span class=\"_ _8\"></span>Si<span class=\"_ _1\"></span>ngle <span class=\"_ _8\"></span>Electronic <span class=\"_ _1\"></span>F<span class=\"_ _1\"></span>ormat<span class=\"_ _1\"></span><span class=\"ff5\">) <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>ne <span class=\"_ _1\"></span>ha<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>isposto <span class=\"_ _8\"></span>l\u2019immediata <span class=\"_ _8\"></span>comun<span class=\"_ _1\"></span>icazione <span class=\"_ _8\"></span>ex<span class=\"_ _26a\"> </span></span></span>art. <span class=\"_ _3\"></span>154-ter, <span class=\"_ _3\"></span>comma <span class=\"_ _3\"></span>1-ter, TUF, <span class=\"_ _2\"></span>al Collegio <span class=\"_ _2\"></span>sindac<span class=\"_ _1\"></span>ale <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>alla <span class=\"_ _2\"></span>Soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>Revisione per <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>rispettive <span class=\"_ _3\"></span>incombenz<span class=\"_ _1\"></span>e.<span class=\"_ _26a\"> </span>Contestualmente <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>tale <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>municazione, <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>provvedut<span class=\"_ _1\"></span>o a <span class=\"_ _1\"></span>ren<span class=\"_ _1\"></span>dere <span class=\"_ _1\"></span>noti <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>ap<span class=\"_ _8\"></span>posito <span class=\"_ _1\"></span>comunicato <span class=\"_ _1\"></span>stam<span class=\"_ _1\"></span>pa <span class=\"_ _1\"></span>i d<span class=\"_ _1\"></span>ati<span class=\"_ _26a\"> </span>salienti <span class=\"_ _12\"> </span>della <span class=\"_ _27\"> </span>re<span class=\"_ _1\"></span>lazione <span class=\"_ _12\"> </span>finanziaria <span class=\"_ _12\"> </span>e <span class=\"_ _27\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>proposta <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>destin<span class=\"_ _1\"></span>azione <span class=\"_ _12\"> </span>dell\u2019utile <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>eserc<span class=\"_ _1\"></span>izio <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>sotto<span class=\"_ _1\"></span>pone<span class=\"_ _26a\"> </span>all\u2019approvazione dell<span class=\"_ _1\"></span>\u2019Assemblea degli Azio<span class=\"_ _1\"></span>nisti convocata per <span class=\"_ _1\"></span>il giorno 28 apri<span class=\"_ _1\"></span>le 2023.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Il bilancio separato e c<span class=\"_ _1\"></span>onsolid<span class=\"_ _1\"></span>ato sono sottopos<span class=\"_ _1\"></span>ti a revisione legale d<span class=\"_ _1\"></span>a parte di Del<span class=\"_ _1\"></span>oitte &amp; Touche S.p.A<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span> 2. Sintesi dei principali p<span class=\"_ _1\"></span>rincipi contabili<span class=\"_ _8\"></span> I principali principi contabili utilizzati <span class=\"_ _1\"></span>nella redazione del pres<span class=\"_ _1\"></span>ente bilancio consolidato sono di seg<span class=\"_ _1\"></span>uito illustrati<span class=\"_ _26a\"> </span>e, se non diversame<span class=\"_ _1\"></span>nte indicato, son<span class=\"_ _1\"></span>o stati uniformem<span class=\"_ _1\"></span>ente adottati per tutt<span class=\"_ _1\"></span>i gli esercizi presen<span class=\"_ _1\"></span>tati.<span class=\"_ _8\"></span> 2.1 Criteri generali di<span class=\"_ _1\"></span> redazione<span class=\"_ _1\"></span><span class=\"ff7\"> </span>Il <span class=\"_ _11\"></span>bilancio <span class=\"_ _20\"></span>consolidato <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>mak <span class=\"_ _11\"></span>S.p.<span class=\"_ _1\"></span>A. <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>sue <span class=\"_ _11\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _11\"></span>(d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>seguit<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>\u201cGruppo <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>mak\u201d <span class=\"_ _11\"></span>o <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>\u201cGr<span class=\"_ _1\"></span>uppo\u201d) <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>stato<span class=\"_ _26a\"> </span>predisposto <span class=\"_ _27\"> </span>n<span class=\"_ _1\"></span>el <span class=\"_ _27\"> </span>ri<span class=\"ff5\">s<span class=\"_ _1\"></span>petto <span class=\"_ _12\"> </span>degli <span class=\"_ _27\"> </span>IFR<span class=\"_ _1\"></span>S <span class=\"_ _27\"> </span>emes<span class=\"_ _1\"></span>si <span class=\"_ _27\"> </span>dall\u2019<span class=\"_ _1\"></span><span class=\"ff7\">Int<span class=\"_ _1\"></span>ernational <span class=\"_ _12\"> </span>Accounting <span class=\"_ _27\"> </span>St<span class=\"_ _1\"></span>andard <span class=\"_ _12\"> </span>Board</span></span> <span class=\"_ _12\"> </span>e <span class=\"_ _27\"> </span>omo<span class=\"_ _1\"></span>logati<span class=\"_ _26a\"> </span>dall\u2019Unione <span class=\"_ _20\"> </span>Europ<span class=\"_ _1\"></span>ea <span class=\"_ _20\"> </span>al <span class=\"_ _23\"> </span>momento <span class=\"_ _20\"> </span>del<span class=\"_ _1\"></span>la <span class=\"_ _20\"></span>sua <span class=\"_ _20\"> </span>pred<span class=\"_ _1\"></span>isposizione. <span class=\"_ _23\"> </span>Per <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>intend<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>anche <span class=\"_ _23\"> </span>gli <span class=\"_ _23\"> </span><span class=\"ff7\">Intern<span class=\"_ _1\"></span>ational<span class=\"_ _26a\"> </span></span>Accounting <span class=\"_ _11\"></span>St<span class=\"_ _1\"></span>andard<span class=\"ff2\"> <span class=\"_ _20\"></span>(IAS) <span class=\"_ _20\"></span>tuttora <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>vigore, <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>onch\u00e9 <span class=\"_ _11\"></span>t<span class=\"_ _1\"></span>utti <span class=\"_ _11\"></span>i <span class=\"_ _20\"></span>documenti <span class=\"_ _23\"></span><span class=\"ff5\">interpretativi <span class=\"_ _20\"></span>emessi <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>all\u2019</span></span>Internati<span class=\"_ _1\"></span>onal<span class=\"_ _26a\"> </span>Financial <span class=\"_ _8\"></span>Report<span class=\"_ _1\"></span>ing <span class=\"_ _8\"></span>Interpretation <span class=\"_ _8\"></span>Co<span class=\"_ _1\"></span>mmittee<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _8\"></span>(IFRIC),<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>precedente<span class=\"_ _1\"></span>mente <span class=\"_ _8\"></span>denom<span class=\"_ _1\"></span>inate <span class=\"_ _11\"></span></span>Standing <span class=\"_ _8\"></span>Interpret<span class=\"_ _1\"></span>ation<span class=\"_ _26a\"> </span>Committee<span class=\"ff2\"> (SIC).<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _8\"></span>bilancio <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>stato <span class=\"_ _11\"></span>predisposto <span class=\"_ _8\"></span>app<span class=\"_ _1\"></span>licando <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>metodo <span class=\"_ _11\"></span>del <span class=\"_ _8\"></span>costo <span class=\"_ _11\"></span>storico, <span class=\"_ _8\"></span>modific<span class=\"_ _8\"></span>ato <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>at<span class=\"_ _1\"></span>tivit\u00e0 <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> passivit\u00e0 finanziarie (<span class=\"_ _1\"></span>inclusi gli strume<span class=\"_ _1\"></span>nti derivati) valutate a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span><span class=\"ff7\">fair value</span><span class=\"ls5\">. <span class=\"_ _1\"></span></span> Gli <span class=\"_ _8\"></span>A<span class=\"_ _1\"></span>mministratori <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _11\"></span>agli <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span>lementi <span class=\"_ _11\"></span>disponibili, <span class=\"_ _11\"></span>ovvero <span class=\"_ _11\"></span>informazioni <span class=\"_ _11\"></span>disponibili <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>ll\u2019attuale <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>preve<span class=\"_ _1\"></span>dibile<span class=\"_ _26a\"> </span>situazione <span class=\"_ _8\"></span>reddituale<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>finanziaria, <span class=\"_ _8\"></span>ha<span class=\"_ _1\"></span>nno <span class=\"_ _8\"></span>redatto <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _8\"></span>secondo <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>presu<span class=\"_ _1\"></span>pposto <span class=\"_ _11\"></span>della <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>ntinuit\u00e0 <span class=\"_ _8\"></span>azienda<span class=\"_ _1\"></span>le.<span class=\"_ _26a\"> </span>In <span class=\"_ _23\"> </span>b<span class=\"_ _1\"></span>ase <span class=\"_ _21\"> </span>agli <span class=\"_ _21\"> </span>element<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>nostr<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>conoscenza<span class=\"_ _1\"></span>, <span class=\"_ _21\"> </span>ovvero <span class=\"_ _21\"> </span>lo <span class=\"_ _21\"> </span>stato <span class=\"_ _21\"> </span>attu<span class=\"_ _1\"></span>ale <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>le <span class=\"_ _21\"> </span>previs<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"> </span>fut<span class=\"_ _1\"></span>ure <span class=\"_ _21\"> </span>delle <span class=\"_ _21\"> </span>princ<span class=\"_ _1\"></span>ipali<span class=\"_ _26a\"> </span>grandezze <span class=\"_ _23\"> </span>econom<span class=\"_ _1\"></span>iche, <span class=\"_ _23\"> </span>patrim<span class=\"_ _1\"></span>oniali <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>inanziarie <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Gr<span class=\"_ _1\"></span>uppo, <span class=\"_ _23\"> </span>nonch\u00e9 <span class=\"_ _21\"> </span>l\u2019analisi <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>rischi <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Gr<span class=\"_ _1\"></span>uppo, <span class=\"_ _23\"> </span>non<span class=\"_ _26a\"> </span>sussistono <span class=\"_ _90\"> </span>i<span class=\"_ _1\"></span>ncertezze <span class=\"_ _26\"> </span>significative <span class=\"_ _26\"> </span>che <span class=\"_ _26\"> </span>possano <span class=\"_ _90\"> </span>pre<span class=\"_ _1\"></span>giudicare <span class=\"_ _26\"> </span>la  co<span class=\"_ _1\"></span>ntinuit<span class=\"_ _1\"></span><span class=\"ff5\">\u00e0 <span class=\"_ _26\"> </span>dell\u2019operativit<span class=\"_ _1\"></span>\u00e0  az<span class=\"_ _1\"></span>iendale <span class=\"_ _26\"> </span>nel<span class=\"_ _26a\"> </span></span>prevedibile futuro.   <span class=\"_ _1\"></span> In <span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>cordo <span class=\"_ _3\"></span>con quanto <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>isto <span class=\"_ _3\"></span>dal <span class=\"_ _3\"></span>principio contabile <span class=\"_ _3\"></span>internazionale <span class=\"_ _3\"></span>IAS 1 <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>bilanci<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>consolidato <span class=\"_ _3\"></span>risulta essere<span class=\"_ _26a\"> </span>costituito dai seguenti pros<span class=\"_ _1\"></span>petti e docum<span class=\"_ _1\"></span>enti:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto  della <span class=\"_ _1e\"> </span>situazione<span class=\"_ _1\"></span>  pa<span class=\"_ _3\"></span>trimonia<span class=\"_ _1\"></span>le <span class=\"_ _1e\"> </span>finanz<span class=\"_ _1\"></span>iaria <span class=\"_ _1e\"> </span>consol<span class=\"_ _1\"></span>idata: <span class=\"_ _1e\"> </span>cl<span class=\"_ _1\"></span>assificazione  de<span class=\"_ _3\"></span>lle <span class=\"_ _1f\"> </span>poste <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _1\"></span> </span>correnti e non corrent<span class=\"_ _1\"></span>i e passivit\u00e0 corrent<span class=\"_ _1\"></span>i e non correnti;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto <span class=\"_ _16a\"> </span>del <span class=\"_ _100\"> </span>conto <span class=\"_ _100\"> </span>economico <span class=\"_ _100\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _16a\"> </span>e <span class=\"_ _53\"> </span>d<span class=\"_ _1\"></span>el <span class=\"_ _53\"> </span>c<span class=\"_ _1\"></span>onto <span class=\"_ _100\"> </span>econ<span class=\"_ _1\"></span>omico <span class=\"_ _100\"> </span>consolidato <span class=\"_ _100\"> </span>c<span class=\"_ _1\"></span>omplessivo:<span class=\"_ _1\"></span> </span>classificazione delle <span class=\"_ _2\"></span>poste basata <span class=\"_ _3\"></span>sulla <span class=\"_ _3\"></span>loro natura <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>appresentazion<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>risultato <span class=\"_ _3\"></span>operat<span class=\"_ _1\"></span>ivo <span class=\"_ _3\"></span>che <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span>include gli effetti del<span class=\"_ _1\"></span>le differenze cambi<span class=\"_ _1\"></span>o come da polic<span class=\"_ _1\"></span>y contabile storicament<span class=\"_ _1\"></span>e adottata da<span class=\"_ _1\"></span>l Gruppo;<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Rendicont<span class=\"_ _1\"></span>o finanziario con<span class=\"_ _1\"></span>solidato: presentazione <span class=\"_ _1\"></span>dei flussi finanz<span class=\"_ _1\"></span>iari s<span class=\"_ _1\"></span>econdo i<span class=\"_ _1\"></span>l metodo indiretto;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto d<span class=\"_ _1\"></span>elle variazioni d<span class=\"_ _1\"></span>elle poste di Patri<span class=\"_ _1\"></span>monio Netto Cons<span class=\"_ _1\"></span>olidato;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>Note illustrat<span class=\"_ _1\"></span>ive al bilancio <span class=\"_ _1\"></span>consolidato.<span class=\"_ _1\"></span> </span>La <span class=\"_ _3\"></span>redazione<span class=\"_ _1\"></span> del <span class=\"_ _3\"></span>bilancio in <span class=\"_ _3\"></span>conformit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>agli IFRS richiede l<span class=\"_ _3\"></span>\u2019uso di <span class=\"_ _3\"></span>stime<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>contabil<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>da parte <span class=\"_ _3\"></span>degli<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Amministra<span class=\"_ _1\"></span>tori<span class=\"_ _8\"></span><span class=\"ff2 ls2a\">.<span class=\"_ _26a\"> </span></span><span class=\"ff2 ls2a\"> </span>Le <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>omportano <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>elevato <span class=\"_ _11\"></span>grado <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>giudizio <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>omplessit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>cu<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>potesi <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>stime<span class=\"_ _26a\"> </span> possono avere un impa<span class=\"_ _1\"></span>tto significativo sul<span class=\"_ _1\"></span> bilancio consolidato sono<span class=\"_ _1\"></span> illustrate nella N<span class=\"_ _1\"></span>ota 5.<span class=\"_ _8\"></span> Con <span class=\"_ _1\"></span>riferiment<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>D<span class=\"_ _1\"></span>elibera <span class=\"_ _1\"></span>Cons<span class=\"_ _1\"></span>ob <span class=\"_ _1\"></span>n. <span class=\"_ _8\"></span>15519 <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7 <span class=\"_ _8\"></span>luglio <span class=\"_ _1\"></span>200<span class=\"_ _1\"></span>6<span class=\"fs2\"> <span class=\"_ _1\"></span></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>erito <span class=\"_ _1\"></span>agli <span class=\"_ _8\"></span>schemi <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>bilancio, <span class=\"_ _8\"></span>si <span class=\"_ _1\"></span>precisa<span class=\"_ _1\"></span> che i <span class=\"_ _8\"></span>prospetti <span class=\"_ _1\"></span>di c<span class=\"_ _1\"></span>onto <span class=\"_ _1\"></span>econom<span class=\"_ _1\"></span>ico e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>situazione <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>atrimoniale<span class=\"_ _8\"></span>-finanziaria <span class=\"_ _1\"></span>inc<span class=\"_ _1\"></span>ludono <span class=\"_ _1\"></span>evidenza <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>rapport<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> intervenuti con parti corre<span class=\"_ _1\"></span>late.<span class=\"_ _1\"></span> 2.2 Principi di con<span class=\"_ _1\"></span>solidamento<span class=\"_ _1\"></span> Imprese controllate<span class=\"_ _1\"></span>  Il bilanc<span class=\"_ _1\"></span>io co<span class=\"_ _1\"></span>nsolidato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ak incl<span class=\"_ _1\"></span>ude <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Emak <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>mprese <span class=\"_ _1\"></span>italiane <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>traniere<span class=\"_ _26a\"> </span> sulle <span class=\"_ _2\"></span>quali <span class=\"_ _2\"></span>Emak S<span class=\"_ _3\"></span>.p.A. <span class=\"_ _2\"></span>eser<span class=\"_ _1\"></span>cita <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>control<span class=\"_ _1\"></span>lo, <span class=\"_ _2\"></span>direttament<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>o <span class=\"_ _2\"></span>indiretta<span class=\"_ _1\"></span>mente, <span class=\"_ _2\"></span>determ<span class=\"_ _1\"></span>inandone <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>scelte <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _26a\"> </span> e gestionali ed ottene<span class=\"_ _1\"></span>ndone<span class=\"_ _1\"></span> <span class=\"ff5\">i relativi benefici, sec<span class=\"_ _1\"></span>ondo i criteri stabiliti d<span class=\"_ _1\"></span>all\u2019IFRS 10.<span class=\"_ _8\"></span></span> L\u2019acquisizione <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>imprese <span class=\"_ _12\"> </span>controllate <span class=\"_ _12\"> </span>viene <span class=\"_ _12\"> </span>rilevata <span class=\"_ _12\"> </span>utilizzando <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>metodo <span class=\"_ _12\"> </span>dell\u2019acqu<span class=\"_ _1\"></span>isto <span class=\"_ _27\"> </span>(<span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Acquisition<span class=\"_ _1\"></span> </span>method<span class=\"ff5\">\u201d), <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>atta <span class=\"_ _1\"></span>eccezio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizioni <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>alizzate <span class=\"_ _8\"></span>nell\u2019esercizio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>011 <span class=\"_ _1\"></span>con<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>c<span class=\"_ _8\"></span><span class=\"ff2\">ontrollante <span class=\"_ _8\"></span>Yama <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A. <span class=\"_ _1\"></span>Il<span class=\"_ _26a\"> </span></span></span><span class=\"ff5\"><span class=\"ff2\"> </span></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>corrisponde <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>acquistat<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _26a\"> </span> emessi <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _20\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>essere <span class=\"_ _23\"></span>alla <span class=\"_ _20\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _20\"></span>senza <span class=\"_ _23\"></span>considerare <span class=\"_ _23\"></span>gli <span class=\"_ _20\"></span>interessi <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>minoranza.<span class=\"_ _1\"></span> L\u2019ecce<span class=\"ff2\">denza <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>costo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>acquisizione <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>al <span class=\"_ _23\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>identificabi<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>nette <span class=\"_ _20\"></span>acquisite, <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>quota di pertinenza d<span class=\"_ _1\"></span>el Gruppo, \u00e8 rilevat<span class=\"_ _1\"></span>a come avviamento.<span class=\"_ _8\"></span> Se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>costo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>acquisizione <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>minore, <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>differenza <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>levata <span class=\"_ _3\"></span>direttamente <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>conto <span class=\"_ _3\"></span>ec<span class=\"_ _1\"></span>onomico <span class=\"_ _3\"></span>(Nota <span class=\"_ _3\"></span>2.7). <span class=\"_ _2\"></span>I <span class=\"_ _3\"></span>bilanci<span class=\"_ _26a\"> </span> delle <span class=\"_ _1\"></span>imprese <span class=\"_ _1\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _8\"></span>a partire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>in c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>assume <span class=\"_ _8\"></span>il contr<span class=\"_ _1\"></span>ollo<span class=\"_ _26a\"> </span> fino al moment<span class=\"_ _1\"></span>o in cui t<span class=\"_ _1\"></span>ale controllo<span class=\"_ _1\"></span> cessa di es<span class=\"_ _1\"></span>istere. Le <span class=\"_ _1\"></span>interessenze di<span class=\"_ _1\"></span> pertinenza di<span class=\"_ _1\"></span> terzi e <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i u<span class=\"_ _8\"></span>tile<span class=\"_ _26a\"> </span>o <span class=\"_ _23\"> </span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>esercizio<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle <span class=\"_ _21\"> </span>controllate <span class=\"_ _21\"> </span>attribuib<span class=\"_ _1\"></span>ili <span class=\"_ _23\"> </span>ai <span class=\"_ _21\"> </span>terz<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>sono <span class=\"_ _21\"> </span>identificate<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>ella <span class=\"_ _21\"> </span>situazione<span class=\"_ _26a\"> </span> patrimoniale <span class=\"ff5\">\u2013</span> fi<span class=\"_ _1\"></span>nanziaria e nel conto <span class=\"_ _1\"></span>economico conso<span class=\"_ _1\"></span>lidati.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Le imprese controllate <span class=\"_ _3\"></span>sono consolidate col metodo integrale dalla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ata in cui il Gruppo acquisisce il <span class=\"_ _3\"></span>controllo.<span class=\"_ _26a\"> </span> Nelle <span class=\"_ _12\"> </span>aggregazioni <span class=\"_ _27\"> </span>az<span class=\"_ _1\"></span>iendali <span class=\"_ _12\"> </span>realizzata <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>fasi, <span class=\"_ _12\"> </span>con <span class=\"_ _12\"> </span>presenza <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>pregre<span class=\"_ _1\"></span>ssi <span class=\"_ _27\"> </span>legam<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>partecipativi <span class=\"_ _27\"> </span>di<span class=\"_ _26a\"> </span> collegamento, <span class=\"_ _1\"></span>il conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _1\"></span>integrale <span class=\"_ _1\"></span>avviene <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data d<span class=\"_ _1\"></span>i acquis<span class=\"_ _1\"></span>izione <span class=\"_ _1\"></span>del c<span class=\"_ _1\"></span>ontrollo e <span class=\"_ _1\"></span>a m<span class=\"_ _1\"></span>edesima <span class=\"_ _1\"></span>data<span class=\"_ _26a\"> </span> avviene la rimisuraz<span class=\"_ _1\"></span>ione al fair value <span class=\"_ _1\"></span>della partecipazio<span class=\"_ _1\"></span>ne precedentement<span class=\"_ _1\"></span>e detenuta.<span class=\"_ _8\"></span> Si precisa che:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>la societ\u00e0 controllata Valley LLP, partecipata da <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> Usa Inc con una quota <span class=\"_ _3\"></span>pari al 94%, \u00e8 <span class=\"_ _3\"></span>consolidata<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>al <span class=\"_ _1\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>virt\u00f9<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>all <span class=\"_ _11\"></span>Option <span class=\"_ _1\"></span>Agree<span class=\"_ _1\"></span>ment</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>ola <span class=\"_ _1\"></span>l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>restante <span class=\"_ _8\"></span>6% <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>propr<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span> una societ\u00e0 riconduc<span class=\"_ _1\"></span>ibile all\u2019attuale <span class=\"_ _1\"></span><span class=\"ff7\">CEO<span class=\"ff2\"> della c<span class=\"_ _1\"></span>ontrollata;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Markusson <span class=\"_ _1e\"> </span>Professional <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>rinders <span class=\"_ _21\"> </span>AB, <span class=\"_ _1e\"> </span>partecipata <span class=\"_ _21\"> </span>da <span class=\"_ _21\"> </span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _21\"> </span>S.r.l., <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>una <span class=\"_ _21\"> </span>quot<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>51%,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>consolidata al 100% <span class=\"_ _1\"></span>in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreem<span class=\"_ _1\"></span>ent</span>\u201d che<span class=\"_ _1\"></span> regola l\u2019acquisto <span class=\"_ _1\"></span>del restante 49%;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Agres Sistemas <span class=\"_ _3\"></span>Eletr<span class=\"fs4\">\u00f4</span>nicos<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>S.A., pa<span class=\"_ _3\"></span>rtecipat<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Tecomec S.r.l., <span class=\"_ _3\"></span>con una <span class=\"_ _2\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>pari al<span class=\"_ _3\"></span> 91%, <span class=\"_ _2\"></span>\u00e8 consolidata<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>al 100% in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreemen<span class=\"_ _1\"></span>t</span>\u201d che regol<span class=\"_ _1\"></span>a l\u2019acquisto del rest<span class=\"_ _1\"></span>ante 9%;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">Poli <span class=\"_ _1\"></span>S.r.<span class=\"_ _1\"></span>l., <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ecipata <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Comet <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u201980%, <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidata <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>virt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>\u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put<span class=\"_ _26a\"> </span></span></span></span><span class=\"ff2\"><span class=\"ff5\"><span class=\"ff7\"> </span></span></span>and Call Option A<span class=\"_ _1\"></span>greement<span class=\"ff5\">\u201d<span class=\"_ _1\"></span> che regola l\u2019acquisto d<span class=\"_ _1\"></span>el restante 20%.<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span>Transazioni infragrupp<span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>ansazioni, i <span class=\"_ _2\"></span>sal<span class=\"_ _1\"></span>di <span class=\"_ _3\"></span>e gli <span class=\"_ _2\"></span>utili non <span class=\"_ _3\"></span>realizzati <span class=\"_ _3\"></span>in operazioni <span class=\"_ _3\"></span>tra societ\u00e0 <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>Gruppo sono <span class=\"_ _3\"></span>eliminati. Le <span class=\"_ _2\"></span>perdite<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span> realizzate sono eliminate <span class=\"_ _3\"></span>allo stesso modo, a <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>no che <span class=\"_ _3\"></span>l\u2019opera<span class=\"_ _8\"></span>zione evidenzi una perdi<span class=\"_ _3\"></span>ta di valore dell\u2019attivit\u00e0<span class=\"_ _26a\"> </span> trasferita. <span class=\"_ _3\"></span>I <span class=\"_ _3\"></span>bilanci delle <span class=\"_ _3\"></span>imprese <span class=\"_ _3\"></span>incluse nell\u2019area <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>consolidam<span class=\"_ _1\"></span>ento <span class=\"_ _3\"></span>sono stati <span class=\"_ _2\"></span>opp<span class=\"_ _1\"></span>ortunamente modificati, <span class=\"_ _3\"></span>ove<span class=\"_ _26a\"> </span> necessario, per uniformar<span class=\"_ _1\"></span>li ai principi co<span class=\"_ _1\"></span>ntabili adottati <span class=\"_ _1\"></span>dal Gruppo.<span class=\"_ _1\"></span> Imprese collegate <span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>imprese <span class=\"_ _8\"></span>collegate <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cui <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>esercita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019influenza <span class=\"_ _8\"></span>notev<span class=\"_ _1\"></span>ole <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os\u00ec <span class=\"_ _8\"></span>come <span class=\"_ _8\"></span>definita <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>llo<span class=\"_ _26a\"> </span> IAS 28 <span class=\"ff5\">\u2013</span> <span class=\"_ _3\"></span><span class=\"ff7\">Partecipaz<span class=\"_ _1\"></span>ioni in collegate e j<span class=\"_ _3\"></span>oint venture<span class=\"_ _1\"></span><span class=\"ff2 ls5\">, ma non il controllo, sulle politiche finanziari<span class=\"_ _1\"></span>e ed operative.<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff2 ls5\"> </span></span>Le <span class=\"_ _11\"></span>partecipazioni <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>societ<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _11\"></span>col<span class=\"_ _1\"></span>legate <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>contabiliz<span class=\"_ _1\"></span>zate <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>metodo <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>patrimonio <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>partire <span class=\"_ _11\"></span>dal<span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span> data in cui inizia l\u2019inf<span class=\"_ _1\"></span>luenza notevole fin<span class=\"_ _1\"></span>o al momento in c<span class=\"_ _1\"></span>ui la stessa cessa d<span class=\"_ _1\"></span>i esistere.<span class=\"_ _26a\"> </span>Area di consolidamen<span class=\"_ _1\"></span>to<span class=\"ff2\"> </span>L\u2019area di <span class=\"_ _3\"></span>consol<span class=\"_ _1\"></span>idamento al 31 di<span class=\"_ _3\"></span>cembre 2022 include le s<span class=\"_ _1\"></span><span class=\"ff2\">eguenti societ\u00e0 consolidate con il <span class=\"_ _3\"></span>metodo integrale:<span class=\"_ _26a\"> </span></span><span class=\"ff2\"><span class=\"_ _1\"></span> </span>(<span class=\"fs2\">1) Poli S.r.l. \u00e8 <span class=\"_ _3\"></span>consolidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option<span class=\"_ _3\"></span> Agreement\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019a<span class=\"_ _3\"></span>cquisto del res<span class=\"_ _3\"></span>tante 20%. <span class=\"ff2\"> </span></span></span></span></span>(2) <span class=\"_ _8\"></span>Markusson <span class=\"_ _8\"></span><span class=\"ff5\">Professiona<span class=\"_ _3\"></span>l <span class=\"_ _8\"></span>Grinders <span class=\"_ _8\"></span>AB <span class=\"_ _11\"></span>\u00e8<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>consolidata <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>irt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put <span class=\"_ _8\"></span>and <span class=\"_ _8\"></span>Call <span class=\"_ _8\"></span>Option <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>greement</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>regola <span class=\"_ _8\"></span>l\u2019acquisto<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _26a\"> </span></span><span class=\"ff5\">l<span class=\"_ _26a\"> </span></span>restante 49%.<span class=\"_ _3\"></span> (3) Valley Indu<span class=\"_ _3\"></span>stries LLP \u00e8 con<span class=\"_ _3\"></span>solidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option Agree<span class=\"_ _3\"></span>ment\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019<span class=\"_ _3\"></span>acquisto del res<span class=\"_ _3\"></span>tan<span class=\"ff2\">te 6%. </span></span></span></span>(4) Agre<span class=\"_ _3\"></span>s Sistemas E<span class=\"_ _3\"></span>letr\u00f4nicos S.<span class=\"_ _3\"></span>A. \u00e8 con<span class=\"_ _3\"></span>solidata al 10<span class=\"_ _3\"></span>0% in virt\u00f9 <span class=\"_ _3\"></span>del \u201c<span class=\"ff7\">Put and <span class=\"_ _3\"></span>Call Option <span class=\"_ _3\"></span>Agreement<span class=\"ff5\">\u201d <span class=\"_ _3\"></span>che regola <span class=\"_ _3\"></span>l\u2019acquisto del <span class=\"_ _3\"></span>restant<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff5\">e<span class=\"_ _3\"></span> </span></span>9%.<span class=\"_ _26a\"> </span>Rispetto <span class=\"_ _11\"></span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _11\"></span>2<span class=\"_ _1\"></span>021 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>entrata <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>far <span class=\"_ _20\"></span>parte <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ell\u2019area <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>consol<span class=\"_ _1\"></span>idamento <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _20\"></span>spagnola <span class=\"_ _11\"></span>Tre<span class=\"_ _1\"></span>bol<span class=\"_ _26a\"> </span>Maquinaria y <span class=\"_ _2\"></span>Su<span class=\"_ _1\"></span>ministros S.A. <span class=\"_ _3\"></span>(di <span class=\"_ _3\"></span>cui la <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ontrollata Sabart <span class=\"_ _3\"></span>S.r.l., in <span class=\"_ _2\"></span>data 13 <span class=\"_ _3\"></span>ottobre 2022, <span class=\"_ _3\"></span>ha acquisito <span class=\"_ _3\"></span>l\u201983,33%<span class=\"_ _26a\"> </span>ed \u00e8 inclusa nel bilanc<span class=\"_ _1\"></span>io consolida<span class=\"_ _1\"></span><span class=\"ff5\">to a partire da<span class=\"_ _1\"></span>ll\u2019ultimo trimestr<span class=\"_ _1\"></span>e 2022).<span class=\"_ _1\"></span></span> Nel <span class=\"_ _8\"></span>2021 <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>risultati <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>P<span class=\"_ _1\"></span>oli <span class=\"_ _8\"></span>S.r.l. <span class=\"_ _11\"></span>erano <span class=\"_ _8\"></span>stati <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _8\"></span>nell\u2019area <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>consolidamen<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>part<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>dall\u2019ultimo<span class=\"_ _1\"></span> trimestre dell\u2019esercizio<span class=\"_ _1\"></span>.<span class=\"ff2\"> </span>Denom<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _136\"> </span>S<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>de<span class=\"_ _26a\"> </span>Capi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> s<span class=\"_ _2\"></span>ocia<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>luta<span class=\"_ _26a\"> </span>Quota <span class=\"_ _1\"></span>%<span class=\"_ _2\"></span> cons<span class=\"_ _2\"></span>oli<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>gruppo<span class=\"_ _26a\"> </span>Pa<span class=\"_ _8\"></span>rtecipa<span class=\"_ _8\"></span>nte<span class=\"_ _26a\"> </span>%<span class=\"_ _9\"></span> <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span>cipa<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> s<span class=\"_ _2\"></span>ul <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>pi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>Capogrup<span class=\"_ _1\"></span>po<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _33\"> </span>B<span class=\"_ _1\"></span>agn<span class=\"_ _3\"></span>olo in P<span class=\"_ _1\"></span>iano<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- RE (I<span class=\"_ _3\"></span>)<span class=\"_ _10d\"> </span>42.623<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>057<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _26a\"> </span></span>Ita<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _b2\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _82\"> </span>2.<span class=\"_ _1\"></span>600<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _fb\"> </span>Ru<span class=\"_ _3\"></span>bier<span class=\"_ _3\"></span>a - RE <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _b5\"> </span>55.556<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ca\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>900<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _16c\"> </span>Re<span class=\"_ _3\"></span>ggio<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.580.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _12b\"> </span>Pegog<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>a - M<span class=\"_ _1\"></span>N (I<span class=\"_ _2\"></span>)<span class=\"_ _80\"> </span>3.<span class=\"_ _1\"></span>186<span class=\"_ _3\"></span>.161 <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _5f\"> </span></span>98,45<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>98,45<span class=\"_ _26a\"> </span>Poli <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(1)<span class=\"_ _cb\"> </span>Co<span class=\"_ _3\"></span>lorn<span class=\"_ _3\"></span>o - P<span class=\"_ _1\"></span>R (I<span class=\"_ _2\"></span>)<span class=\"_ _e2\"> </span>60.000<span class=\"_ _3\"></span> <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c7\"> </span></span>1<span class=\"_ _3\"></span>00,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _67\"> </span>80,00<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>uropa<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Suminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Es<span class=\"_ _1\"></span>pana<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>A<span class=\"_ _cf\"> </span>Getaf<span class=\"_ _2\"></span>e <span class=\"_ _1\"></span>- Madr<span class=\"_ _3\"></span>id (E)<span class=\"_ _6a\"> </span>270.459<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>90,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>90,00<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _dd\"> </span>Wolfisheim (F)<span class=\"_ _83\"> </span>320.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>C<span class=\"_ _3\"></span>omet <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>De<span class=\"_ _3\"></span>uts<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>hland<span class=\"_ _3\"></span> Gmbh<span class=\"_ _e8\"> </span>Fellbach <span class=\"_ _1\"></span>- Oef<span class=\"_ _2\"></span>fing<span class=\"_ _3\"></span>en (D<span class=\"_ _3\"></span>)<span class=\"_ _de\"> </span>553.218<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>ce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _16d\"> </span>Rixheim (F)<span class=\"_ _e2\"> </span>2.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>U.K.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>ntwoo<span class=\"_ _3\"></span>d (U<span class=\"_ _3\"></span>K<span class=\"_ _1\"></span>)<span class=\"_ _67\"> </span>342.090<span class=\"_ _54\"> </span>GBP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Epic<span class=\"_ _1\"></span>enter<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>LLC<span class=\"_ _c8\"> </span>Kiev<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>A)<span class=\"_ _3b\"> </span>19<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>026<span class=\"_ _3\"></span>.200<span class=\"_ _96\"> </span>UAH<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> F<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _dd\"> </span>A<span class=\"_ _1\"></span>rna<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> (F)<span class=\"_ _119\"> </span>300.00<span class=\"_ _3\"></span>0<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _4\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Vic<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>us-Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Sp. <span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span> o.<span class=\"_ _1\"></span>o.<span class=\"_ _16e\"> </span>Poz<span class=\"_ _1\"></span>nan<span class=\"_ _3\"></span> (PL)<span class=\"_ _b9\"> </span>10.168.000<span class=\"_ _97\"> </span>PLN<span class=\"_ _112\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.S<span class=\"_ _64\"> </span>La Cou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>euv<span class=\"_ _9\"></span>e (F)<span class=\"_ _dd\"> </span>3<span class=\"_ _3\"></span>7.000<span class=\"_ _3\"></span> <span class=\"_ _61\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>GB <span class=\"_ _1\"></span>Ltd<span class=\"_ _4f\"> </span>S<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span>Hele<span class=\"_ _3\"></span>ns <span class=\"_ _1\"></span>Mersey<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ide (U<span class=\"_ _3\"></span>K)<span class=\"_ _12f\"> </span>90<span class=\"_ _3\"></span>0.000<span class=\"_ _3\"></span> <span class=\"_ _10\"> </span>GBP<span class=\"_ _89\"> </span>9<span class=\"_ _3\"></span>8,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Pols<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>P.<span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span>OO<span class=\"_ _e1\"> </span>Bydgosz<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span> (PL)<span class=\"_ _16f\"> </span>163<span class=\"_ _3\"></span>.500 <span class=\"_ _24\"> </span>PLN<span class=\"_ _89\"> </span>98<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>45<span class=\"_ _28\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>or<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>.L.<span class=\"_ _4\"> </span>T<span class=\"_ _2\"></span>arra<span class=\"_ _3\"></span>gon<span class=\"_ _3\"></span>a (E)<span class=\"_ _170\"> </span>80.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Markuss<span class=\"_ _1\"></span>on P<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ss<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ona<span class=\"_ _3\"></span>l Grinde<span class=\"_ _3\"></span>rs <span class=\"_ _1\"></span>AB<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(2)<span class=\"_ _90\"> </span>Rimbo (SE)<span class=\"_ _b4\"> </span>50.000<span class=\"_ _3\"></span> <span class=\"_ _0\"> </span><span class=\"ls2b\">SEK<span class=\"_ _112\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>rebo<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Maqu<span class=\"_ _3\"></span>inar<span class=\"_ _3\"></span>ia y<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>uminist<span class=\"_ _1\"></span>ros <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A.<span class=\"_ _171\"> </span>A <span class=\"_ _1\"></span>Cor<span class=\"_ _3\"></span>u\u00f1<span class=\"_ _3\"></span>a (E)<span class=\"_ _172\"> </span>75.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>83,33<span class=\"_ _28\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _173\"> </span>83,33<span class=\"_ _26a\"> </span>Ame<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>ca<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa Inc<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>nsv<span class=\"_ _2\"></span>ill<span class=\"_ _1\"></span>e - Minnesota <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _b8\"> </span>231<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>090<span class=\"_ _171\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>51.77<span class=\"_ _3\"></span>7.052<span class=\"_ _174\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>99,63<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>0,<span class=\"_ _1\"></span>37<span class=\"_ _26a\"> </span>23.55<span class=\"_ _3\"></span>7.909<span class=\"_ _174\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>99,98<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,02<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C W<span class=\"_ _1\"></span>aterbla<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ing LLC<span class=\"_ _7a\"> </span>B<span class=\"_ _1\"></span>urn<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>v<span class=\"_ _2\"></span>ille - M<span class=\"_ _1\"></span>inne<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ota (USA)<span class=\"_ _b8\"> </span>285.000<span class=\"_ _175\"></span><span class=\"ls2c\">       <span class=\"ls1\"> <span class=\"_ _93\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _d2\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>1.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _3\"></span> <span class=\"_ _16c\"> </span>C<span class=\"_ _2\"></span>omet <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>97,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>3,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>outh A<span class=\"_ _1\"></span>merica S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16b\"> </span>Prov<span class=\"_ _9\"></span>iden<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ia - S<span class=\"_ _1\"></span>antiago (R<span class=\"_ _2\"></span>CH)<span class=\"_ _22\"> </span>4<span class=\"_ _3\"></span>44.850<span class=\"_ _3\"></span>.860<span class=\"_ _97\"> </span>CLP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>Valley<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>ries <span class=\"_ _1\"></span>LLP (3)<span class=\"_ _64\"> </span>Paynesv<span class=\"_ _2\"></span>ille <span class=\"_ _1\"></span>- Minnesota (USA)<span class=\"_ _d3\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _61\"> </span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _c5\"> </span>94<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>Speed<span class=\"_ _3\"></span> North Am<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a In<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>.<span class=\"_ _e3\"> </span>W<span class=\"_ _1\"></span>oost<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- Ohio (U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _f6\"> </span><span class=\"ls2d\">10<span class=\"_ _96\"> </span></span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Speed<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Fra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>19.29<span class=\"_ _3\"></span>1.875 <span class=\"_ _177\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _31\"> </span>9<span class=\"_ _3\"></span>9,99<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,01<span class=\"_ _26a\"> </span>Spraycom <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>omercio de pecas <span class=\"_ _1\"></span>para<span class=\"_ _3\"></span> agr<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>oltura<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>Ca<span class=\"_ _3\"></span>tanduv<span class=\"_ _c\"></span>a <span class=\"_ _1\"></span>(BR)<span class=\"_ _b9\"> </span>53<span class=\"_ _3\"></span>3.410<span class=\"_ _97\"> </span>BRL<span class=\"_ _89\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Agres S<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>emas <span class=\"_ _1\"></span>El<span class=\"_ _1\"></span>etr<span class=\"ff8\">\u00f4</span>nic<span class=\"_ _1\"></span>os <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.A<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> (4)<span class=\"_ _61\"> </span>U<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>a (BR)<span class=\"_ _16f\"> </span>1<span class=\"_ _3\"></span>.047.000<span class=\"_ _97\"> </span>BRL<span class=\"_ _112\"> </span>100,00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>91,00<span class=\"_ _26a\"> </span>Res<span class=\"_ _2\"></span>to <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span> m<span class=\"_ _1\"></span>ond<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> Outdoor<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Powe<span class=\"_ _3\"></span>r<span class=\"_ _26a\"> </span>Equipmen<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>Co.Ltd<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> (RPC)<span class=\"_ _31\"> </span>25.532.493<span class=\"_ _54\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Nin<span class=\"_ _3\"></span>gbo<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>Manuf<span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _f7\"> </span>N<span class=\"_ _3\"></span>ingb<span class=\"_ _3\"></span>o City<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _64\"> </span>8.029.49<span class=\"_ _3\"></span>4<span class=\"_ _2d\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _4\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>rie Sarl<span class=\"_ _67\"> </span>Moh<span class=\"_ _3\"></span>ammedia (MA)<span class=\"_ _d6\"> </span>1.445.000<span class=\"_ _54\"> </span>M<span class=\"_ _1\"></span>AD<span class=\"_ _178\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ai <span class=\"_ _1\"></span>Lon<span class=\"_ _3\"></span>g (Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i) Mac<span class=\"_ _1\"></span>hine<span class=\"_ _3\"></span>ry<span class=\"_ _26a\"> </span>Manu<span class=\"_ _3\"></span>fa<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _26a\"> </span>Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _f6\"> </span>16.353<span class=\"_ _3\"></span>.001<span class=\"_ _2d\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Line S<span class=\"_ _1\"></span>outh Afr<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a Lt<span class=\"_ _1\"></span>d<span class=\"_ _7d\"> </span>P<span class=\"_ _1\"></span>ietermar<span class=\"_ _3\"></span>itz<span class=\"_ _1\"></span>burg<span class=\"_ _3\"></span> (Z<span class=\"_ _3\"></span>A)<span class=\"_ _c5\"> </span><span class=\"ls2d\">100<span class=\"_ _99\"> </span></span>Z<span class=\"_ _3\"></span>AR<span class=\"_ _89\"> </span>51,00<span class=\"_ _28\"> </span>Spee<span class=\"_ _3\"></span>d France S<span class=\"_ _1\"></span>AS<span class=\"_ _f3\"> </span>51,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>Equipmen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span> Co. <span class=\"_ _1\"></span>Ltd<span class=\"_ _1f\"> </span>Y<span class=\"_ _1\"></span>ongkang<span class=\"_ _3\"></span> Cit<span class=\"_ _1\"></span>y <span class=\"_ _1\"></span>(RPC)<span class=\"_ _d4\"> </span>63.016<span class=\"_ _3\"></span>.019 <span class=\"_ _25\"> </span>RMB<span class=\"_ _b3\"> </span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>radin<span class=\"_ _3\"></span>g Co. Lt<span class=\"_ _1\"></span>d<span class=\"_ _96\"> </span>Y<span class=\"_ _1\"></span>ong<span class=\"_ _3\"></span>k<span class=\"_ _1\"></span>ang<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>City<span class=\"_ _1\"></span> (RPC)<span class=\"_ _e1\"> </span>3.930.57<span class=\"_ _3\"></span>9 <span class=\"_ _25\"> </span>RMB<span class=\"_ _a0\"> </span>98<span class=\"_ _3\"></span>,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> A<span class=\"_ _1\"></span>utec<span class=\"_ _1\"></span>h E<span class=\"_ _1\"></span>qu<span class=\"_ _3\"></span>ipment <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _61\"> </span>J<span class=\"_ _3\"></span>iang<span class=\"_ _3\"></span>men (R<span class=\"_ _3\"></span>PC)<span class=\"_ _174\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _146\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span></span></span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>ria e Comer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o de<span class=\"_ _26a\"> </span>Equipa<span class=\"_ _3\"></span>mentos<span class=\"_ _1\"></span> Ltda<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>iatuba (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>do Brasil <span class=\"_ _1\"></span>In<span class=\"_ _3\"></span>dustria LT<span class=\"_ _3\"></span>DA<span class=\"_ _26a\"> </span>Rib<span class=\"_ _3\"></span>eira<span class=\"_ _3\"></span>o P<span class=\"_ _1\"></span>reto (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>S.<span class=\"_ _1\"></span>I. A<span class=\"_ _1\"></span>gro<span class=\"_ _3\"></span> M<span class=\"_ _1\"></span>exic<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Gua<span class=\"_ _3\"></span>dalaja<span class=\"_ _3\"></span>ra (MEX<span class=\"_ _9\"></span>)<span class=\"_ _26a\"> </span>MX<span class=\"_ _9\"></span>N<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Brasil<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltda<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>iatuba (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>98,45<span class=\"_ _26a\"> </span>2.3 Differenze di tradu<span class=\"_ _1\"></span>zione<span class=\"_ _26a\"> </span> Valuta funzionale e va<span class=\"_ _1\"></span>luta di presentaz<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> Gli <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span>lementi <span class=\"_ _3\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>bilancio <span class=\"_ _3\"></span>di ciascuna <span class=\"_ _2\"></span>impres<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>del Gruppo <span class=\"_ _2\"></span>sono rilevati <span class=\"_ _2\"></span>utilizz<span class=\"_ _1\"></span>ando <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>valuta dell\u2019ambiente<span class=\"_ _26a\"> </span> economico <span class=\"_ _8\"></span>pr<span class=\"_ _1\"></span>incipale <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>cui <span class=\"_ _11\"></span>l\u2019impresa <span class=\"_ _8\"></span>op<span class=\"_ _1\"></span>era <span class=\"_ _8\"></span>(val<span class=\"_ _1\"></span>uta <span class=\"_ _8\"></span>fu<span class=\"_ _1\"></span>nzionale). <span class=\"_ _8\"></span>Il <span class=\"_ _11\"></span>bilancio <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>presentato <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>Euro,<span class=\"_ _1\"></span> valuta funzionale e <span class=\"_ _1\"></span>di prese<span class=\"_ _1\"></span>ntazione della Cap<span class=\"_ _1\"></span>ogruppo.<span class=\"_ _1\"></span> Operazioni e saldi<span class=\"_ _1\"></span> Le operazioni in <span class=\"_ _3\"></span>valuta ester<span class=\"_ _1\"></span>a sono <span class=\"_ _3\"></span>convert<span class=\"_ _1\"></span>ite utilizzando i <span class=\"_ _3\"></span>tassi di cambio alle date delle <span class=\"_ _3\"></span>rispettive operazioni.<span class=\"_ _26a\"> </span> Gli <span class=\"_ _8\"></span>ut<span class=\"_ _1\"></span>ili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>erdite <span class=\"_ _11\"></span>su <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ambi <span class=\"_ _11\"></span>derivanti <span class=\"_ _8\"></span>dag<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>incassi <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>dai <span class=\"_ _11\"></span>pagamenti <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _11\"></span>valuta <span class=\"_ _8\"></span>est<span class=\"_ _1\"></span>era <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>dalla <span class=\"_ _8\"></span>convers<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>ai<span class=\"_ _26a\"> </span> cambi <span class=\"_ _1\"></span>di ch<span class=\"_ _1\"></span>iusura <span class=\"_ _1\"></span>dell\u2019eser<span class=\"_ _1\"></span>cizio d<span class=\"_ _1\"></span>elle a<span class=\"_ _1\"></span>ttivit\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>passivit\u00e0 <span class=\"_ _1\"></span>monetar<span class=\"_ _1\"></span>ie <span class=\"_ _1\"></span>denominate <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>aluta es<span class=\"_ _1\"></span>tera s<span class=\"_ _1\"></span>ono <span class=\"_ _1\"></span>imputati<span class=\"_ _1\"></span> al <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>onto <span class=\"_ _23\"></span>economico. <span class=\"_ _23\"> </span>Veng<span class=\"_ _1\"></span>ono <span class=\"_ _23\"></span>differiti <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"></span>conto <span class=\"_ _23\"> </span>economico <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>mplessivo <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>utili <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>realizzate <span class=\"_ _23\"></span>su<span class=\"_ _26a\"> </span> strumenti per la c<span class=\"_ _1\"></span>opertura dei fluss<span class=\"_ _1\"></span>i per i quali non s<span class=\"_ _1\"></span>i \u00e8 ancora realizzat<span class=\"_ _1\"></span>a la transazione og<span class=\"_ _1\"></span>getto di copertura.<span class=\"_ _8\"></span> Consolidamento di bi<span class=\"_ _1\"></span>lanci di societ\u00e0 ester<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> I bilanci <span class=\"_ _3\"></span>di tutte le i<span class=\"_ _3\"></span>mprese del Gruppo sono predisposti secondo i <span class=\"_ _3\"></span>principi contabili IAS/IFRS per uniformarli a<span class=\"_ _1\"></span><span class=\"ls2e\">i<span class=\"_ _26a\"> </span></span><span class=\"ls2e\"> </span>principi contabili di <span class=\"_ _1\"></span>Emak S.p.A.<span class=\"_ _1\"></span> I <span class=\"_ _11\"></span>bilanci <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>valuta <span class=\"_ _11\"></span>funzionale <span class=\"_ _11\"></span>divers<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>dalla <span class=\"_ _11\"></span>valuta <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>presentaz<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>bilancio <span class=\"_ _20\"></span>consolidato <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>convertiti<span class=\"_ _1\"></span> come segue:<span class=\"_ _26a\"> </span> (i) <span class=\"_ _8f\"> </span><span class=\"ff5\">le attivi<span class=\"_ _1\"></span>t\u00e0 e le passivit\u00e0 son<span class=\"_ _1\"></span>o convertite al cambi<span class=\"_ _1\"></span>o alla data di ch<span class=\"_ _1\"></span>iusura dell\u2019eserci<span class=\"_ _1\"></span>zio;<span class=\"_ _8\"></span></span> (<span class=\"ls21\">ii)<span class=\"_ _1\"></span></span> <span class=\"_ _149\"> </span><span class=\"ff5\">i ricavi e i costi sono conver<span class=\"_ _1\"></span>titi al cambio med<span class=\"_ _1\"></span>io dell\u2019eserc<span class=\"_ _1\"></span>izio;<span class=\"_ _1\"></span></span> (iii) <span class=\"_ _100\"> </span><span class=\"ff5\">tutte <span class=\"_ _23\"> </span>le <span class=\"_ _20\"> </span>differenz<span class=\"_ _1\"></span>e <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>traduzione <span class=\"_ _20\"> </span>son<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>ri<span class=\"_ _1\"></span>levate <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>ome <span class=\"_ _23\"> </span>specifica <span class=\"_ _23\"> </span>riserva <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>patrim<span class=\"_ _1\"></span>onio <span class=\"_ _23\"> </span>netto <span class=\"_ _20\"> </span>(\u201criserv<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>per<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>differenze di convers<span class=\"_ _1\"></span>ione\u201d).<span class=\"ff2\"> </span>I <span class=\"_ _20\"></span>principali <span class=\"_ _20\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>ca<span class=\"_ _1\"></span>mbio <span class=\"_ _20\"></span>utilizzati <span class=\"_ _23\"></span>per <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>onversione <span class=\"_ _23\"></span>in <span class=\"_ _20\"></span>Euro <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>bilanc<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>espressi <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>val<span class=\"_ _1\"></span>ute <span class=\"_ _20\"></span>estere <span class=\"_ _20\"></span>sono <span class=\"_ _23\"></span>i<span class=\"_ _26a\"> </span> seguenti:<span class=\"_ _26a\"> </span> 2.4 Immobilizzazion<span class=\"_ _1\"></span>i materiali<span class=\"_ _1\"></span> I terreni e f<span class=\"_ _1\"></span>abbricati son<span class=\"_ _1\"></span>o costituiti ess<span class=\"_ _1\"></span>enzialmente <span class=\"_ _1\"></span>da stabiliment<span class=\"_ _1\"></span>i produttivi, <span class=\"_ _1\"></span>magazz<span class=\"_ _1\"></span>ini e uffici e <span class=\"_ _1\"></span>sono espost<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> in <span class=\"_ _20\"></span>bila<span class=\"_ _1\"></span>ncio <span class=\"_ _23\"></span>al <span class=\"_ _20\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>incrementato <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>ivalutazioni <span class=\"_ _23\"></span>legali <span class=\"_ _23\"></span>effettuate <span class=\"_ _23\"></span>negli <span class=\"_ _20\"></span>an<span class=\"_ _1\"></span>ni <span class=\"_ _20\"></span>prec<span class=\"_ _1\"></span>edenti <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>prima<span class=\"_ _26a\"> </span> applicazione <span class=\"_ _100\"> </span>dei <span class=\"_ _53\"> </span>princi<span class=\"_ _1\"></span>pi <span class=\"_ _53\"> </span>contab<span class=\"_ _1\"></span>ili <span class=\"_ _53\"> </span>IAS/IFR<span class=\"_ _1\"></span>S, <span class=\"_ _53\"> </span>al <span class=\"_ _100\"> </span>netto <span class=\"_ _53\"> </span>dell'a<span class=\"_ _1\"></span>mmortamento <span class=\"_ _100\"> </span>per <span class=\"_ _100\"> </span>i <span class=\"_ _53\"> </span>fabbricati. <span class=\"_ _100\"> </span>Le <span class=\"_ _100\"> </span>altre<span class=\"_ _26a\"> </span> immobilizzazioni <span class=\"_ _21\"> </span>materia<span class=\"_ _1\"></span>li <span class=\"_ _21\"> </span>sono <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>ontabilizzate <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>costo <span class=\"_ _21\"> </span>storico <span class=\"_ _21\"> </span>a<span class=\"_ _8\"></span>l <span class=\"_ _23\"> </span>netto <span class=\"_ _1e\"> </span>dell'ammortament<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>perd<span class=\"_ _1\"></span>ite<span class=\"_ _26a\"> </span> durevoli di valore. Il costo s<span class=\"_ _1\"></span>torico compren<span class=\"_ _1\"></span>de tutte le spese d<span class=\"_ _1\"></span>irettamente attri<span class=\"_ _1\"></span>buibili all\u2019acquisto dei b<span class=\"_ _1\"></span>eni.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>I <span class=\"_ _21\"> </span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _21\"> </span>incre<span class=\"_ _1\"></span>mentativi <span class=\"_ _1e\"> </span>sostenuti <span class=\"_ _1e\"> </span>sono <span class=\"_ _1e\"> </span>inclusi <span class=\"_ _1e\"> </span>nel <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _1e\"> </span>contabile <span class=\"_ _1e\"> </span>dell\u2019attivit\u00e0 <span class=\"_ _1e\"> </span>o <span class=\"_ _1e\"> </span>contab<span class=\"_ _1\"></span>ilizzati <span class=\"_ _21\"> </span>co<span class=\"_ _1\"></span>me<span class=\"_ _8\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>separata, <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>lo <span class=\"_ _2\"></span>quando <span class=\"_ _2\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>probab<span class=\"_ _1\"></span>ile <span class=\"_ _2\"></span>che <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>essi <span class=\"_ _2\"></span>der<span class=\"_ _1\"></span>iveranno <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>uturi <span class=\"_ _2\"></span>benefici<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>economici <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>tali <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>possono <span class=\"_ _3\"></span>essere<span class=\"_ _1\"></span> A<span class=\"_ _3\"></span>m<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>onta<span class=\"_ _8\"></span>re<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>uta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>te<span class=\"_ _1\"></span>ra<span class=\"_ _8\"></span> pe<span class=\"_ _8\"></span>r 1 <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>Me<span class=\"_ _8\"></span>di<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _89\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _179\"> </span>Me<span class=\"_ _8\"></span>di<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _10c\"> </span>31.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>St<span class=\"_ _1\"></span>erlin<span class=\"_ _3\"></span>a (I<span class=\"_ _2\"></span>ng<span class=\"_ _3\"></span>hilt<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>a)<span class=\"_ _17a\"> </span>0,85<span class=\"_ _5a\"> </span>0<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>89<span class=\"_ _17b\"> </span>0,86<span class=\"_ _65\"> </span>0,84<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>minbi (C<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>)<span class=\"_ _ec\"> </span>7<span class=\"_ _2\"></span>,<span class=\"_ _1\"></span>08<span class=\"_ _5a\"> </span>7,36<span class=\"_ _17b\"> </span>7,63<span class=\"_ _65\"> </span>7,<span class=\"_ _1\"></span>19<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ollar<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>a)<span class=\"_ _fc\"> </span>1,<span class=\"_ _1\"></span>05<span class=\"_ _5a\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>07<span class=\"_ _17b\"> </span>1,18<span class=\"_ _65\"> </span>1,13<span class=\"_ _26a\"> </span>Z<span class=\"_ _9\"></span>l<span class=\"_ _1\"></span>oty<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Polon<span class=\"_ _3\"></span>ia)<span class=\"_ _11d\"> </span>4,69<span class=\"_ _5a\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>68<span class=\"_ _17b\"> </span>4,57<span class=\"_ _65\"> </span>4,60<span class=\"_ _26a\"> </span>Z<span class=\"_ _9\"></span>ar (Sud<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>ric<span class=\"_ _1\"></span>a)<span class=\"_ _160\"> </span>1<span class=\"_ _3\"></span>7,21<span class=\"_ _67\"> </span>18,10<span class=\"_ _c5\"> </span>1<span class=\"_ _3\"></span>7,48<span class=\"_ _e7\"> </span>18<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>06<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>ah<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>rain<span class=\"_ _3\"></span>a)<span class=\"_ _11d\"> </span>3<span class=\"_ _3\"></span>4,02<span class=\"_ _67\"> </span>39,04<span class=\"_ _c5\"> </span>3<span class=\"_ _2\"></span>2,<span class=\"_ _1\"></span>26<span class=\"_ _e7\"> </span>30<span class=\"_ _2\"></span>,<span class=\"_ _8\"></span>92<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>(Bra<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ile)<span class=\"_ _34\"> </span>5,44<span class=\"_ _5a\"> </span>5,64<span class=\"_ _16f\"> </span>6,<span class=\"_ _1\"></span>38<span class=\"_ _65\"> </span>6,31<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>irh<span class=\"_ _3\"></span>am <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>Maro<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>o)<span class=\"_ _17c\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>68<span class=\"_ _67\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>16<span class=\"_ _c5\"> </span>1<span class=\"_ _2\"></span>0,<span class=\"_ _1\"></span>63<span class=\"_ _e7\"> </span>10<span class=\"_ _3\"></span>,48<span class=\"_ _26a\"> </span>Pes<span class=\"_ _1\"></span>o M<span class=\"_ _1\"></span>ess<span class=\"_ _8\"></span>ic<span class=\"_ _1\"></span>ano<span class=\"_ _3\"></span> (Mes<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ic<span class=\"_ _8\"></span>o)<span class=\"_ _5d\"> </span>21<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>19<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>86<span class=\"_ _c5\"> </span>2<span class=\"_ _2\"></span>3,<span class=\"_ _1\"></span>99<span class=\"_ _e7\"> </span>23<span class=\"_ _3\"></span>,14<span class=\"_ _26a\"> </span>Pes<span class=\"_ _1\"></span>o Cilen<span class=\"_ _3\"></span>o (C<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>le)<span class=\"_ _d7\"> </span>917<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>83<span class=\"_ _5d\"> </span>9<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>82<span class=\"_ _78\"> </span>89<span class=\"_ _3\"></span>8,39<span class=\"_ _17d\"> </span>96<span class=\"_ _3\"></span>4,35<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>a S<span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>ed<span class=\"_ _3\"></span>es<span class=\"_ _1\"></span>e (Sv<span class=\"_ _c\"></span>ez<span class=\"_ _1\"></span>ia)<span class=\"_ _5a\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>63<span class=\"_ _67\"> </span>11,12<span class=\"_ _17e\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>15<span class=\"_ _b7\"> </span>10,25<span class=\"_ _26a\"> </span>valutati <span class=\"_ _1e\"> </span>atte<span class=\"_ _1\"></span>ndibilmente.  I <span class=\"_ _1e\"> </span>costi <span class=\"_ _1f\"> </span>delle <span class=\"_ _1e\"> </span>altr<span class=\"_ _1\"></span>e <span class=\"_ _1e\"> </span>riparaz<span class=\"_ _1\"></span>ioni <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>manut<span class=\"_ _1\"></span>enzioni <span class=\"_ _1e\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _1f\"> </span>imputati <span class=\"_ _1e\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span>conto  economico<span class=\"_ _26a\"> </span> nell\u2019esercizio nel qu<span class=\"_ _1\"></span>ale son<span class=\"_ _1\"></span><span class=\"ff2\">o sostenuti.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>I terreni non sono a<span class=\"_ _1\"></span>mmortizzati. L\u2019ammort<span class=\"_ _1\"></span>amento delle<span class=\"_ _1\"></span> altre attivit\u00e0 \u00e8 calcolat<span class=\"_ _1\"></span>o a quote cost<span class=\"_ _1\"></span>anti sul periodo di<span class=\"_ _26a\"> </span> vita utile stimata genera<span class=\"_ _1\"></span>lmente come seg<span class=\"_ _1\"></span>ue:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> fabbricati, 33 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> costruzioni leggere, 10 anni;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> impianti e macchinari, 6-<span class=\"_ _1\"></span>10 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> stampi per la produzione, 4<span class=\"_ _1\"></span>-6 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> altri<span class=\"_ _3\"></span>, 4-8 <span class=\"_ _1\"></span>anni.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>Il valore residuo e la vit<span class=\"_ _1\"></span>a utile delle attiv<span class=\"_ _1\"></span>it\u00e0 sono rivisti e mod<span class=\"_ _1\"></span>ificati, se necessario, <span class=\"_ _1\"></span>al termine di ogn<span class=\"_ _1\"></span>i esercizio.<span class=\"_ _8\"></span> Il <span class=\"_ _20\"></span>valore <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>ontabile <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>u<span class=\"_ _1\"></span>n\u2019attivit\u00e0 <span class=\"_ _20\"> </span>\u00e8 <span class=\"_ _23\"> </span>immediatamente <span class=\"_ _23\"> </span>ridotto <span class=\"_ _20\"> </span>al <span class=\"_ _20\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>r<span class=\"_ _1\"></span>ealiz<span class=\"_ _8\"></span><span class=\"ff2\">zo <span class=\"_ _20\"></span>se <span class=\"_ _20\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>valore <span class=\"_ _23\"></span>contabile <span class=\"_ _20\"></span>risulta<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>maggiore del valore rec<span class=\"_ _1\"></span>uperabile stimat<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span> I <span class=\"_ _8\"></span>contributi <span class=\"_ _8\"></span>pu<span class=\"_ _1\"></span>bblici <span class=\"_ _8\"></span>otten<span class=\"_ _1\"></span>uti <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>fronte <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>investimenti<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>fabbricati<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>imp<span class=\"_ _1\"></span>ianti <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>levati <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>econom<span class=\"_ _1\"></span>ico<span class=\"_ _26a\"> </span> lungo <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>necessari<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>correlarli <span class=\"_ _11\"></span>con <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>relativi <span class=\"_ _11\"></span>piani <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>ammortamento <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>tr<span class=\"_ _1\"></span>attati <span class=\"_ _11\"></span>come <span class=\"_ _11\"></span>provent<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> differiti. 2.5 Immobilizzazion<span class=\"_ _1\"></span>i immateriali<span class=\"_ _1\"></span><span class=\"ff2\"> </span>(a) Costi di sviluppo<span class=\"_ _1\"></span> Si <span class=\"_ _11\"></span>tratta <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>immobilizzazioni <span class=\"_ _11\"></span>immateriali <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>vita <span class=\"_ _11\"></span>definita. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>costi <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>sviluppo <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>progett<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>n<span class=\"_ _1\"></span>uovi <span class=\"_ _11\"></span>prodotti <span class=\"_ _11\"></span>sono<span class=\"_ _1\"></span> iscritti all\u2019attivo solo se s<span class=\"_ _1\"></span>ono rispettate le se<span class=\"_ _1\"></span>guenti condizioni: <span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> i costi possono essere deter<span class=\"_ _1\"></span>minati in modo atten<span class=\"_ _1\"></span>dibile;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> la <span class=\"_ _9\"></span>fatti<span class=\"_ _1\"></span>bilit\u00e0 <span class=\"_ _2\"></span>tecnica <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>prodotto, <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>volumi <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>i <span class=\"_ _2\"></span>prezzi <span class=\"_ _2\"></span>att<span class=\"_ _1\"></span>esi <span class=\"_ _2\"></span>indican<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>che <span class=\"_ _2\"></span>i <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>sostenu<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>nella <span class=\"_ _2\"></span>fas<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>svilupp<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>genereranno benef<span class=\"_ _1\"></span>ici economici futuri.<span class=\"_ _1\"></span> Un\u2019attivit\u00e0 <span class=\"_ _20\"></span>immateria<span class=\"_ _1\"></span>le, <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>enerata <span class=\"_ _20\"> </span>nel<span class=\"_ _1\"></span>la <span class=\"_ _11\"></span>fas<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>viluppo <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>un <span class=\"_ _20\"></span>progett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>interno, <span class=\"_ _20\"> </span>\u00e8 <span class=\"_ _20\"></span>iscritta <span class=\"_ _20\"></span>come<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>se <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span> Societ\u00e0 \u00e8 in grado d<span class=\"_ _1\"></span>i dimostrare:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"ff5\">la <span class=\"_ _20\"></span>possibilit\u00e0 <span class=\"_ _23\"> </span>tecnica <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"> </span>co<span class=\"_ _1\"></span>mpletare <span class=\"_ _23\"> </span>l\u2019attivit\u00e0 <span class=\"_ _20\"> </span>imma<span class=\"_ _1\"></span>teriale, <span class=\"_ _23\"> </span>in <span class=\"_ _20\"></span>modo <span class=\"_ _23\"> </span>che <span class=\"_ _20\"> </span>si<span class=\"_ _1\"></span>a <span class=\"_ _20\"> </span>disp<span class=\"_ _1\"></span>onibile <span class=\"_ _23\"> </span>all\u2019utilizzo <span class=\"_ _23\"> </span>o <span class=\"_ _20\"></span>alla<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"> </span></span>vendita;<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"ff5\">l\u2019intenzione di completare l\u2019<span class=\"_ _1\"></span>attivit\u00e0 e la propr<span class=\"_ _1\"></span>ia capacit\u00e0 di uti<span class=\"_ _1\"></span>lizzarla o vender<span class=\"_ _1\"></span>la;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> le modalit\u00e0 con c<span class=\"ff5\">ui l\u2019attivit\u00e0 gener<span class=\"_ _1\"></span>er\u00e0 benefici ec<span class=\"_ _1\"></span>onomici futuri;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"ff5\">la disponibilit\u00e0 di risorse pe<span class=\"_ _1\"></span>r completare l\u2019att<span class=\"_ _1\"></span>ivit\u00e0;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> la <span class=\"_ _11\"></span>dispon<span class=\"_ _1\"></span>ibilit\u00e0 <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>adeguate<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>risorse <span class=\"_ _20\"></span>tecniche, <span class=\"_ _20\"></span>fina<span class=\"_ _1\"></span>nziarie <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>altro <span class=\"_ _20\"></span>tipo <span class=\"_ _20\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _20\"></span>completare <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>viluppo <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>utilizzare o rivendere <span class=\"_ _1\"></span>l\u2019attivit\u00e0;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> la capaci<span class=\"ff5\">t\u00e0 di valutare in m<span class=\"_ _1\"></span>odo attendibile il c<span class=\"_ _1\"></span>osto attribuibile all\u2019at<span class=\"_ _1\"></span>tivit\u00e0 durante lo<span class=\"_ _1\"></span> sviluppo;<span class=\"_ _8\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"ff5\">la capacit\u00e0 di utilizzare l\u2019attiv<span class=\"_ _1\"></span>it\u00e0 immateriale generat<span class=\"_ _1\"></span>a.<span class=\"_ _1\"></span></span> </span>L\u2019ammortamento dei cost<span class=\"_ _1\"></span>i di sviluppo, classificati n<span class=\"_ _1\"></span>ella voce \u201cCosti di sviluppo\u201d, de<span class=\"_ _1\"></span>corre dal momento in<span class=\"_ _8\"></span><span class=\"ff2\"> cui la<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>fase di sviluppo si \u00e8 co<span class=\"_ _1\"></span>nclusa e l\u2019attivit\u00e0 sottost<span class=\"_ _1\"></span>ante inizia a gen<span class=\"_ _1\"></span>erare benefici eco<span class=\"_ _1\"></span>nomici.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Nel <span class=\"_ _23\"> </span>per<span class=\"_ _1\"></span>iodo <span class=\"_ _21\"> </span>in <span class=\"_ _23\"> </span>cui <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>sostenuti <span class=\"_ _21\"> </span>costi <span class=\"_ _21\"> </span>interni <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>sv<span class=\"_ _1\"></span>iluppo <span class=\"_ _23\"> </span>ca<span class=\"_ _1\"></span>pitalizzabili, <span class=\"_ _21\"> </span>gli <span class=\"_ _21\"> </span>stessi <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>sospesi <span class=\"_ _21\"> </span>a <span class=\"_ _23\"> </span>Co<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span> economico a riduzio<span class=\"_ _1\"></span>ne delle voci di cos<span class=\"_ _1\"></span>to int<span class=\"_ _1\"></span>eressate e c<span class=\"_ _1\"></span>lassificati tra le imm<span class=\"_ _1\"></span>obilizzazioni immateria<span class=\"_ _1\"></span>li.<span class=\"_ _1\"></span> I <span class=\"_ _1\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>svilup<span class=\"_ _1\"></span>po <span class=\"_ _1\"></span>capita<span class=\"_ _1\"></span>lizzati <span class=\"_ _1\"></span>sono <span class=\"_ _8\"></span>ammortizzati<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>base <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>una <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>period<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>si <span class=\"_ _8\"></span>attende <span class=\"_ _1\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>le<span class=\"_ _1\"></span> attivit\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>oggetto <span class=\"_ _8\"></span>gener<span class=\"_ _1\"></span>ino <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cassa <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>comunq<span class=\"_ _1\"></span>ue <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>periodi <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>super<span class=\"_ _1\"></span>iori <span class=\"_ _11\"></span><span class=\"ff5\">a <span class=\"_ _8\"></span>5 <span class=\"_ _8\"></span>anni <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>partire <span class=\"_ _8\"></span>dall<span class=\"_ _1\"></span>\u2019inizio<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>della produzione de<span class=\"_ _1\"></span>i prodotti oggetto del<span class=\"_ _1\"></span>l\u2019attivit\u00e0 di sviluppo<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Tutti <span class=\"_ _20\"></span>gli <span class=\"_ _20\"></span>altri <span class=\"_ _20\"></span>costi <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>viluppo, <span class=\"_ _20\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _20\"></span>presentano <span class=\"_ _20\"></span>i <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>equisiti <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>ess<span class=\"_ _1\"></span>ere <span class=\"_ _20\"></span>capitali<span class=\"_ _1\"></span>zzati, <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>ilevati <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>conto<span class=\"_ _26a\"> </span> economico quando sost<span class=\"_ _1\"></span>enuti.<span class=\"_ _1\"></span> I contributi pubblici ottenuti a fronte<span class=\"_ _1\"></span> di investimenti in costi di sviluppo sono rilevati nel conto economico lungo<span class=\"_ _26a\"> </span> il periodo necessario per c<span class=\"_ _1\"></span>orrelarli con i relativ<span class=\"_ _1\"></span>i piani di ammortam<span class=\"_ _1\"></span>ento e sono trat<span class=\"_ _1\"></span>tati come prov<span class=\"_ _1\"></span>enti differiti.<span class=\"_ _8\"></span> (b) Concessioni lice<span class=\"_ _1\"></span>nze e march<span class=\"_ _26a\"> </span>i<span class=\"_ _1\"></span> I <span class=\"_ _1\"></span>marchi <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>licenze<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alutati <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>costo <span class=\"_ _1\"></span>storico<span class=\"_ _1\"></span>, <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>eccezione <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>marchi <span class=\"_ _1\"></span>ac<span class=\"_ _1\"></span>quisiti <span class=\"_ _1\"></span>attrav<span class=\"_ _1\"></span>erso <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>operazioni di <span class=\"_ _3\"></span><span class=\"ff7\">Business<span class=\"_ _1\"></span> Combina<span class=\"_ _3\"></span>tion<span class=\"_ _1\"></span><span class=\"ff2\"> che <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _3\"></span>rilevati inizialmente loro <span class=\"ff7\">fai<span class=\"_ _3\"></span>r value<span class=\"ff2\">. <span class=\"_ _3\"></span>I marchi <span class=\"_ _3\"></span>e le <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>icenze <span class=\"_ _3\"></span>hanno una <span class=\"_ _3\"></span>vita utile </span></span></span></span>definita <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alutati <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>l\u2019ammortamento <span class=\"_ _11\"></span>accumulato. <span class=\"_ _11\"></span>L\u2019ammortamento<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>calcolato <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l metodo <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>quote <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>ostanti <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>ripartire <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>loro <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"></span>vita <span class=\"_ _20\"></span>utile <span class=\"_ _11\"></span>st<span class=\"_ _1\"></span>imata <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>comunque <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>durata <span class=\"_ _21\"> </span>non superiore ai 10 anni. <span class=\"_ _1\"></span> (c) Altre attivit\u00e0 immateri<span class=\"_ _1\"></span>ali<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>altre <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _8\"></span>immateriali <span class=\"_ _11\"></span>sono <span class=\"_ _8\"></span>iscritte <span class=\"_ _8\"></span>secon<span class=\"_ _1\"></span>do <span class=\"_ _8\"></span>quan<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>previsto <span class=\"_ _11\"></span>dallo <span class=\"_ _8\"></span>IAS <span class=\"_ _8\"></span>38 <span class=\"_ _20\"></span><span class=\"ff5\">\u2013</span> <span class=\"_ _11\"></span><span class=\"ff7\">Attivit\u00e0 <span class=\"_ _8\"></span>immateriali,<span class=\"_ _1\"></span></span> <span class=\"_ _8\"></span>quand<span class=\"_ _1\"></span>o tale  attivit\u00e0 <span class=\"_ _1e\"> </span>\u00e8  identificabile,  \u00e8 <span class=\"_ _1e\"> </span>probabile  che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>neri  benefici <span class=\"_ _1e\"> </span>ec<span class=\"_ _1\"></span>onomici  futuri <span class=\"_ _1f\"> </span>e <span class=\"_ _1f\"> </span>il<span class=\"_ _1\"></span>  suo <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>osto <span class=\"_ _1f\"> </span>pu\u00f2  essere determinato attendibi<span class=\"_ _1\"></span>lmente. Le attivit\u00e0 immateria<span class=\"_ _1\"></span>li sono rilevate al costo di acqui<span class=\"_ _1\"></span>sto, ad eccezione delle Liste Clienti <span class=\"_ _1\"></span>iscritte <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>segui<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisiz<span class=\"_ _1\"></span>ioni, r<span class=\"_ _1\"></span>ilevati <span class=\"_ _1\"></span>inizialment<span class=\"_ _1\"></span>e a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>loro <span class=\"_ _8\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir v<span class=\"_ _1\"></span>alue</span>. <span class=\"_ _1\"></span>Le <span class=\"_ _8\"></span>altre <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>immaterial<span class=\"_ _1\"></span>i so<span class=\"_ _1\"></span>no<span class=\"_ _1\"></span> ammortizzate <span class=\"_ _1\"></span>sistematicam<span class=\"_ _1\"></span>ente <span class=\"_ _1\"></span>lungo <span class=\"_ _1\"></span>il p<span class=\"_ _1\"></span>eriodo <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>stimata <span class=\"_ _1\"></span>vita <span class=\"_ _1\"></span>uti<span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>omunque <span class=\"_ _1\"></span>per u<span class=\"_ _1\"></span>na <span class=\"_ _1\"></span>durata <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>varia<span class=\"_ _1\"></span> da 5 anni a 15 anni.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>accordi <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>lativi <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>parte <span class=\"_ _8\"></span>specifica <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tecnologia <span class=\"_ _8\"></span>cloud, <span class=\"_ _11\"></span><span class=\"ff7\">Software-<span class=\"_ _1\"></span><span class=\"ls4\">as</span>-a-Serv<span class=\"_ _1\"></span>ice <span class=\"_ _8\"></span>(SaaS)</span>, <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>contabilizzat<span class=\"_ _1\"></span>i secondo <span class=\"_ _1e\"> </span>q<span class=\"_ _1\"></span>uan<span class=\"ff5\">to <span class=\"_ _1f\"> </span>previsto <span class=\"_ _1f\"> </span>dalle <span class=\"_ _1e\"> </span>interpre<span class=\"_ _1\"></span>tazioni <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ubblicate <span class=\"_ _1f\"> </span>dall\u2019<span class=\"_ _1\"></span><span class=\"ff7\">IFRIC, <span class=\"_ _1e\"> </span></span></span>sec<span class=\"_ _1\"></span>ondo  cui <span class=\"_ _21\"> </span>i  costi <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ostenuti <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a personalizzazione <span class=\"_ _23\"></span>del <span class=\"_ _20\"></span>soft<span class=\"_ _1\"></span>ware <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>pplicativo <span class=\"_ _23\"></span>verso <span class=\"_ _23\"></span>un <span class=\"_ _20\"></span>fornitore <span class=\"_ _23\"> </span>in <span class=\"_ _23\"></span>un <span class=\"_ _20\"></span>accordo <span class=\"_ _21\"> </span><span class=\"ff7\">Software<span class=\"_ _1\"></span>-<span class=\"ls4\">as</span>-a-S<span class=\"_ _1\"></span>ervice <span class=\"_ _20\"></span>(<span class=\"_ _1\"></span>SaaS)<span class=\"_ _1\"></span></span> sono <span class=\"_ _1e\"> </span>cap<span class=\"_ _1\"></span>italizzati <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>olo  quando <span class=\"_ _1e\"> </span>sussistano  i <span class=\"_ _1e\"> </span>requisiti  pre<span class=\"_ _1\"></span>visti <span class=\"_ _1f\"> </span>dallo <span class=\"_ _1e\"> </span>I<span class=\"_ _1\"></span>AS <span class=\"_ _1f\"> </span>38 <span class=\"_ _1e\"> </span>e<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>particol<span class=\"_ _1\"></span>are <span class=\"_ _1e\"> </span>t<span class=\"_ _1\"></span>ali <span class=\"_ _1f\"> </span>attivit\u00e0 <span class=\"_ _1f\"> </span>di personalizzazione <span class=\"_ _20\"></span>si<span class=\"_ _1\"></span>ano <span class=\"_ _20\"></span>svolte <span class=\"_ _23\"></span>direttamente <span class=\"_ _20\"></span>sui <span class=\"_ _20\"></span>sistemi <span class=\"_ _20\"></span>inform<span class=\"_ _1\"></span>ativi <span class=\"_ _20\"></span>sotto <span class=\"_ _23\"></span>il <span class=\"_ _11\"></span>contr<span class=\"_ _1\"></span>ollo <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grupp<span class=\"_ _1\"></span>o/Societ\u00e0. <span class=\"_ _20\"></span>In alternativa <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>direttamente <span class=\"_ _23\"> </span>a <span class=\"_ _23\"></span>conto <span class=\"_ _23\"> </span>economico, <span class=\"_ _23\"> </span>similmente<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>configurazi<span class=\"_ _1\"></span>one software. 2.6 Diritti d\u2019uso<span class=\"_ _1\"></span><span class=\"ff4\"> </span>Il <span class=\"_ _8\"></span>dir<span class=\"_ _1\"></span>itto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>utilizzo <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>bene <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>leasing <span class=\"_ _11\"></span>(cosiddetto <span class=\"_ _11\"></span>\"<span class=\"_ _1\"></span><span class=\"ff7\">right <span class=\"_ _11\"></span>of <span class=\"_ _8\"></span>use<span class=\"_ _1\"></span></span>\") <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>classif<span class=\"_ _1\"></span>icato <span class=\"_ _8\"></span>n<span class=\"_ _1\"></span>ello <span class=\"_ _11\"></span>stato <span class=\"_ _11\"></span>patrimoniale <span class=\"_ _8\"></span>tra <span class=\"_ _11\"></span>le<span class=\"_ _1\"></span> attivit\u00e0 non correnti.<span class=\"_ _1\"></span> Il  <span class=\"ff7\">right  of  use  asset</span>  vien<span class=\"_ _1\"></span>e  inizialmente  rilevato  al <span class=\"_ _90\"> </span>c<span class=\"_ _1\"></span>osto,  determin<span class=\"_ _1\"></span>ato  come  s<span class=\"_ _1\"></span>ommatoria  delle  seguenti<span class=\"_ _26a\"> </span> componenti:<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>valore iniziale della <span class=\"_ _1\"></span>passivit\u00e0 derivante da <span class=\"_ _1\"></span>lease (parag<span class=\"_ _1\"></span>rafo 2.19);<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>eventuali <span class=\"_ _20\"></span>pagamenti <span class=\"_ _20\"></span>effettu<span class=\"_ _1\"></span>ati <span class=\"_ _11\"></span>pr<span class=\"_ _1\"></span>ima <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>lla <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ata <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>inizio <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>contratto, <span class=\"_ _20\"></span>al <span class=\"_ _20\"></span>netto <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>eventuali <span class=\"_ _20\"></span>incentivi<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>ricevuti;<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>costi diretti iniziali so<span class=\"_ _1\"></span>stenuti dal loca<span class=\"_ _1\"></span>tario;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>la <span class=\"_ _23\"> </span>stima <span class=\"_ _21\"> </span>dei <span class=\"_ _21\"> </span>costi <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>locatario <span class=\"_ _23\"> </span>prev<span class=\"_ _1\"></span>ede <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ostenere <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _21\"> </span>lo <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>mantellamento<span class=\"_ _1\"></span>, <span class=\"_ _23\"> </span>la <span class=\"_ _21\"> </span>rimozione<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>la<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>demolizione dell\u2019asset s<span class=\"_ _1\"></span>ottostante.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Successivamente <span class=\"_ _12\"> </span>all<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>rilevazione <span class=\"_ _12\"> </span>inizia<span class=\"_ _1\"></span>le, <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>diritto <span class=\"_ _12\"> </span>d\u2019uso <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>re<span class=\"_ _1\"></span>ttificato <span class=\"_ _12\"> </span>per <span class=\"_ _12\"> </span>tener <span class=\"_ _12\"> </span>c<span class=\"_ _1\"></span>onto <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>quo<span class=\"_ _8\"></span><span class=\"ff2\">te <span class=\"_ _12\"> </span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>ammortamento <span class=\"_ _11\"></span>cumulate,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>eventuali <span class=\"_ _11\"></span>perdite <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>effetti <span class=\"_ _11\"></span>legati <span class=\"_ _11\"></span>ed <span class=\"_ _8\"></span>eve<span class=\"_ _1\"></span>ntuali <span class=\"_ _11\"></span>rideterminazion<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> della passivit\u00e0.<span class=\"_ _1\"></span> Le quote di ammortamento sono rilevate a quote costanti e sono contabilizzate a conto economico<span class=\"_ _8\"></span><span class=\"ff3 fs3\"> </span>nella voce<span class=\"_ _26a\"> </span> \u201cSvalutazione ed<span class=\"ff2\"> </span>a<span class=\"_ _1\"></span>mmortament<span class=\"_ _1\"></span>i\u201d.<span class=\"ff2\"> </span>Il Gruppo <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>avvale d<span class=\"_ _1\"></span>elle es<span class=\"_ _1\"></span>enzioni <span class=\"_ _1\"></span>consentite <span class=\"_ _1\"></span>dall\u2019IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span>per<span class=\"_ _1\"></span> i l<span class=\"_ _1\"></span>easing <span class=\"_ _1\"></span>a brev<span class=\"_ _1\"></span>e durata<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>quelli d<span class=\"_ _1\"></span>i mo<span class=\"_ _1\"></span>dico<span class=\"_ _26a\"> </span> valore, rilevando i pagamenti relativi a <span class=\"_ _3\"></span>tali tipologie di leasing a conto economico come <span class=\"_ _3\"></span>costi operativi lungo la<span class=\"_ _26a\"> </span> durata del contratto <span class=\"_ _1\"></span>di leasing.<span class=\"_ _1\"></span> In <span class=\"_ _11\"></span>relazione <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>opzioni <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>rinnovo, <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>proceduto <span class=\"_ _11\"></span>ad <span class=\"_ _11\"></span>effettuare <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>stima <span class=\"_ _11\"></span>della <span class=\"_ _11\"></span>durata <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>elativi<span class=\"_ _26a\"> </span> contratti di leasing tenut<span class=\"_ _1\"></span>o conto della ragionev<span class=\"_ _1\"></span>ole certezz<span class=\"_ _1\"></span>a dell\u2019esercizio dell\u2019opz<span class=\"_ _1\"></span>ione.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.7 Avviamento<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>erivante <span class=\"_ _3\"></span>dall\u2019acquisto <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>trollate, <span class=\"_ _3\"></span>classificato <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>attivit\u00e0 <span class=\"_ _3\"></span>non <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orrenti, <span class=\"_ _2\"></span>\u00e8 inizialmente <span class=\"_ _2\"></span>rilevato<span class=\"_ _26a\"> </span> al costo <span class=\"_ _3\"></span>rappresentat<span class=\"_ _1\"></span>o dall\u2019eccedenza del corrispettivo corrisposto e <span class=\"_ _3\"></span>dell\u2019importo iscritto per le <span class=\"_ _3\"></span>interessenze di<span class=\"_ _26a\"> </span> minoranza, <span class=\"_ _20\"></span>rilevato <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>acquisizione, <span class=\"_ _20\"></span>rispett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>alle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>ne<span class=\"_ _1\"></span>tte <span class=\"_ _20\"></span>identificabili <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>isite <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span> assunte da<span class=\"_ _1\"></span>l Gruppo.<span class=\"_ _1\"></span> Se <span class=\"_ _1\"></span>il c<span class=\"_ _1\"></span>orrispettivo \u00e8<span class=\"_ _1\"></span> infer<span class=\"_ _1\"></span>iore al <span class=\"_ _8\"></span><span class=\"ff7\">fai<span class=\"_ _1\"></span>r value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit\u00e0 <span class=\"_ _1\"></span>nette <span class=\"_ _1\"></span>della c<span class=\"_ _1\"></span>ontrollata <span class=\"_ _1\"></span>acquisita, <span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span> differenza \u00e8 rilevata ne<span class=\"_ _1\"></span>l conto econom<span class=\"_ _1\"></span>ico.<span class=\"_ _26a\"> </span>L\u2019avviamento \u00e8 considerato dal <span class=\"_ _3\"></span>Gruppo Emak un\u2019attivit\u00e0 a vita <span class=\"_ _3\"></span>utile indefinita. Conseguentemente, tale attivit<span class=\"_ _26a\"> </span>\u00e0<span class=\"_ _26a\"> </span> non <span class=\"_ _8\"></span>viene <span class=\"_ _11\"></span>ammortizzata <span class=\"_ _11\"></span>ma <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>ass<span class=\"_ _1\"></span>oggettata <span class=\"_ _11\"></span>periodicamente <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>verifiche <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>indivi<span class=\"_ _1\"></span>duare <span class=\"_ _8\"></span>ev<span class=\"_ _1\"></span>entuali <span class=\"_ _8\"></span>riduz<span class=\"_ _1\"></span>ioni <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> valore.<span class=\"_ _26a\"> </span> L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>allocato <span class=\"_ _1e\"> </span>alle<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>unit\u00e0 <span class=\"_ _1e\"> </span>operative <span class=\"_ _1e\"> </span>che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>nerano <span class=\"_ _1e\"> </span>flussi <span class=\"_ _1e\"> </span>finanziari <span class=\"_ _1e\"> </span>ide<span class=\"_ _1\"></span>ntificabili <span class=\"_ _1e\"> </span>separatamente <span class=\"_ _1e\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>monitorati al fine di c<span class=\"_ _1\"></span>onsentire la verif<span class=\"_ _1\"></span>ica di eventual<span class=\"_ _1\"></span>i riduzioni di valore.<span class=\"_ _26a\"> </span> <span class=\"_ _8\"></span> L\u2019avviamento relativo a<span class=\"_ _1\"></span> societ\u00e0 collegate <span class=\"_ _1\"></span>\u00e8 incluso nel <span class=\"_ _1\"></span>valore della partec<span class=\"_ _1\"></span>ipazione.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.8 Perdita di v<span class=\"_ _1\"></span>alore delle<span class=\"_ _1\"></span> attivit\u00e0 (<span class=\"ffd\">Impai<span class=\"_ _1\"></span>rment</span>)<span class=\"_ _26a\"> </span> Le <span class=\"_ _2\"></span>attivit\u00e0 <span class=\"_ _3\"></span>che <span class=\"_ _3\"></span>hanno <span class=\"_ _3\"></span>una <span class=\"_ _2\"></span>vi<span class=\"_ _1\"></span>ta <span class=\"_ _3\"></span>utile <span class=\"_ _2\"></span>in<span class=\"_ _1\"></span>definita <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>vengo<span class=\"_ _1\"></span>no <span class=\"_ _3\"></span>ammortizzate <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _2\"></span>verif<span class=\"_ _1\"></span>icate <span class=\"_ _2\"></span>alm<span class=\"_ _1\"></span>eno <span class=\"_ _2\"></span>an<span class=\"_ _1\"></span>nualmente<span class=\"_ _26a\"> </span> e <span class=\"_ _3\"></span>ogni qualvolta si <span class=\"_ _2\"></span>ravv<span class=\"_ _1\"></span>isino indicatori <span class=\"_ _3\"></span>di possibili perdite <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>valore<span class=\"_ _1\"></span>. <span class=\"_ _3\"></span>Le attivit\u00e0 <span class=\"_ _3\"></span>soggette ad <span class=\"_ _3\"></span>ammort<span class=\"_ _1\"></span>am<span class=\"_ _8\"></span>ento <span class=\"_ _3\"></span>son<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> verificate <span class=\"_ _3\"></span>per accertare <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ossibili <span class=\"_ _3\"></span>perdite di <span class=\"_ _2\"></span>valore ogniqualvolta <span class=\"_ _3\"></span>eventi <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>camb<span class=\"_ _1\"></span>iamenti di<span class=\"_ _3\"></span> <span class=\"_ _3\"></span>situazi<span class=\"_ _1\"></span>oni <span class=\"_ _3\"></span>indicano <span class=\"_ _3\"></span>che<span class=\"_ _1\"></span> il <span class=\"_ _8\"></span>valore <span class=\"_ _11\"></span>contabile <span class=\"_ _11\"></span>potrebbe <span class=\"_ _8\"></span>non <span class=\"_ _11\"></span>essere <span class=\"_ _8\"></span>recup<span class=\"_ _1\"></span>erabile. <span class=\"_ _11\"></span>La <span class=\"_ _8\"></span>svalutazione <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>perdi<span class=\"_ _1\"></span>ta <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>rilevata <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>un<span class=\"_ _1\"></span> ammontare <span class=\"_ _3\"></span>uguale <span class=\"_ _3\"></span>all\u2019<span class=\"ff2\">ecc<span class=\"_ _1\"></span>edenza <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ispetto al <span class=\"_ _2\"></span>valore <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ecuperabile, <span class=\"_ _3\"></span>pari <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>pi\u00f9 <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>lto <span class=\"_ _2\"></span>tra il <span class=\"_ _2\"></span>valore<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>corrente <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>vendita <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _8\"></span>d\u2019uso. <span class=\"_ _8\"></span>Al <span class=\"_ _8\"></span>fine <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alutare <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>perd<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alore, <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>sono<span class=\"_ _26a\"> </span> raggruppate <span class=\"_ _11\"></span>al <span class=\"_ _20\"></span>pi\u00f9 <span class=\"_ _11\"></span>basso <span class=\"_ _20\"></span>livello <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>preve<span class=\"_ _1\"></span>dono <span class=\"_ _11\"></span>flus<span class=\"_ _1\"></span>si <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>cassa <span class=\"_ _20\"></span>identificabili <span class=\"_ _11\"></span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _20\"></span>(unit\u00e0<span class=\"_ _26a\"> </span> operative che generan<span class=\"_ _1\"></span>o flussi finanziar<span class=\"_ _1\"></span>i) come previst<span class=\"_ _1\"></span>o dalla IAS 36. <span class=\"_ _8\"></span> La <span class=\"_ _2\"></span>prec<span class=\"_ _1\"></span>itata <span class=\"_ _3\"></span>verifica <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>conferma <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>valore <span class=\"_ _3\"></span>richiede <span class=\"_ _3\"></span>necess<span class=\"_ _1\"></span>ariamente <span class=\"_ _3\"></span>l\u2019esercizio <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutazioni <span class=\"_ _3\"></span>soggett<span class=\"_ _1\"></span>ive <span class=\"_ _3\"></span>basate<span class=\"_ _26a\"> </span> sul<span class=\"ff5\">le <span class=\"_ _20\"></span>informazioni <span class=\"_ _20\"></span>disponibili <span class=\"_ _20\"></span>all\u2019interno <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>G<span class=\"_ _1\"></span>ruppo, <span class=\"_ _20\"></span>dalle <span class=\"_ _11\"></span>pros<span class=\"_ _1\"></span>pettive <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>m<span class=\"_ _1\"></span>ercato <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>dai <span class=\"_ _11\"></span>trend<span class=\"_ _1\"></span> </span>storici. <span class=\"_ _11\"></span>Ino<span class=\"_ _1\"></span>ltre, <span class=\"_ _11\"></span>q<span class=\"_ _1\"></span>ualora <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>ipotizzi <span class=\"_ _20\"></span>che <span class=\"_ _20\"></span>possa <span class=\"_ _20\"></span>essers<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>generata <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>potenziale <span class=\"_ _20\"></span>riduzione <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>valore, <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>Gruppo<span class=\"_ _1\"></span> procede alla deter<span class=\"_ _1\"></span>minazione della s<span class=\"_ _1\"></span>tessa ut<span class=\"_ _1\"></span>ilizzando tec<span class=\"_ _1\"></span>niche valutative ritenute <span class=\"_ _1\"></span>idonee.<span class=\"_ _1\"></span> Le <span class=\"_ _1\"></span>medesi<span class=\"_ _1\"></span>me <span class=\"_ _1\"></span>verif<span class=\"_ _1\"></span>iche <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>valore <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>medesime <span class=\"_ _8\"></span>tecniche <span class=\"_ _8\"></span>valutative <span class=\"_ _8\"></span>sono <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>pplicate <span class=\"_ _8\"></span>sulle <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _8\"></span>immateriali <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> materiali <span class=\"_ _1\"></span>a vi<span class=\"_ _1\"></span>ta ut<span class=\"_ _1\"></span>ile <span class=\"_ _1\"></span>definita <span class=\"_ _1\"></span>quando <span class=\"_ _1\"></span>suss<span class=\"_ _1\"></span>istono <span class=\"_ _1\"></span>indicatori <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>facciano <span class=\"_ _1\"></span>prev<span class=\"_ _1\"></span>edere <span class=\"_ _1\"></span>difficol<span class=\"_ _8\"></span>t\u00e0 <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>recupero <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span> relativo valore netto co<span class=\"_ _1\"></span>ntabile tramite l\u2019uso.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>La corretta identificaz<span class=\"_ _1\"></span>ione di elementi indic<span class=\"_ _1\"></span>atori dell\u2019esis<span class=\"_ _1\"></span>tenza di una potenz<span class=\"_ _1\"></span>iale riduzione d<span class=\"_ _1\"></span>i valore, nonch\u00e9 le<span class=\"_ _26a\"> </span> stime <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>determinazion<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>stesse, <span class=\"_ _23\"> </span>dipendono,<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>principalmente, <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>fattori <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>condizion<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>possono<span class=\"_ _26a\"> </span> variare <span class=\"_ _11\"></span>nel <span class=\"_ _20\"></span>tempo <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>misur<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>anche <span class=\"_ _20\"></span>significativa,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>influenzand<span class=\"_ _1\"></span>o, <span class=\"_ _11\"></span>quind<span class=\"_ _1\"></span>i, <span class=\"_ _11\"></span>le <span class=\"_ _20\"></span>valutazioni <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>stime <span class=\"_ _20\"></span>effettuate <span class=\"_ _20\"></span>dagli<span class=\"_ _26a\"> </span> amministratori.<span class=\"_ _26a\"> </span> 2.9 Investimenti immob<span class=\"_ _1\"></span>iliari <span class=\"_ _1\"></span> Gli <span class=\"_ _1\"></span>immobili <span class=\"_ _8\"></span>detenuti <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>un <span class=\"_ _8\"></span>apprezzamento <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>nvestito <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>bbricati <span class=\"_ _1\"></span>poss<span class=\"_ _1\"></span>eduti <span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span> fine <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>conseguire<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>canoni di <span class=\"_ _3\"></span>locazione <span class=\"_ _3\"></span>sono valutati <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>costo al <span class=\"_ _3\"></span>netto di <span class=\"_ _2\"></span>ammort<span class=\"_ _1\"></span>amenti <span class=\"_ _3\"></span>e di <span class=\"_ _2\"></span>eventua<span class=\"_ _1\"></span>li <span class=\"_ _3\"></span>perdite per<span class=\"_ _26a\"> </span> riduzione di valore.<span class=\"_ _1\"></span> 2.10 Attivit\u00e0 finanzia<span class=\"_ _1\"></span>rie  Tutte <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>finanzi<span class=\"_ _1\"></span>arie <span class=\"_ _1\"></span>rilevate<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _1\"></span><span class=\"ff5\">rientrano <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ell\u2019ambito <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>pplicazione <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>l\u2019IFRS <span class=\"_ _1\"></span>9 <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>rilevate<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>costo<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>ammortizzato <span class=\"_ _1e\"> </span>o <span class=\"_ _1f\"> </span>al <span class=\"_ _1e\"> </span><span class=\"ff7\">fair <span class=\"_ _1e\"> </span>va<span class=\"_ _1\"></span>lue</span> <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ulla <span class=\"_ _1e\"> </span>base <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>m<span class=\"_ _1\"></span>odello <span class=\"_ _1f\"> </span>di <span class=\"_ _1e\"> </span><span class=\"ff7\">bus<span class=\"_ _1\"></span>iness</span> <span class=\"_ _1e\"> </span><span class=\"ff5\">dell\u2019entit<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>la <span class=\"_ _1e\"> </span>gest<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>delle <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _1\"></span> </span>finanziarie e delle caratt<span class=\"_ _1\"></span>eristiche relative a<span class=\"_ _1\"></span>i flussi finanziari contratt<span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>ali dell'attivit<span class=\"_ _1\"></span>\u00e0 finanziaria.<span class=\"_ _1\"></span> In particolare il Gruppo <span class=\"_ _1\"></span>individua le segue<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>attivit\u00e0 finanz<span class=\"_ _1\"></span>iarie:<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> attivit\u00e0 <span class=\"_ _11\"></span>finanziarie <span class=\"_ _20\"></span>detenute <span class=\"_ _20\"></span>nel <span class=\"_ _11\"></span>quadro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _11\"></span>mode<span class=\"_ _1\"></span>llo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>business <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>cui <span class=\"_ _20\"></span>obiettivo <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>incassare <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>flussi<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>cassa <span class=\"_ _3\"></span>contrattuali, <span class=\"_ _3\"></span>rapprese<span class=\"_ _1\"></span>ntati <span class=\"ff5\">unicamente <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>incassi <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>capitale <span class=\"_ _3\"></span>e da <span class=\"_ _2\"></span>interessi sull\u2019importo <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>capitale<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>da restituire. Tali attiv<span class=\"_ _1\"></span>it\u00e0 sono valutate al cos<span class=\"_ _1\"></span>to ammor<span class=\"_ _1\"></span>tizzato;<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> attivit\u00e0 <span class=\"_ _2\"></span>fin<span class=\"_ _1\"></span>anziarie de<span class=\"_ _3\"></span>tenute nel <span class=\"_ _3\"></span>quadro <span class=\"_ _3\"></span>di un <span class=\"_ _2\"></span>mode<span class=\"_ _1\"></span>llo <span class=\"_ _3\"></span>di business <span class=\"_ _3\"></span>il <span class=\"_ _3\"></span>cui <span class=\"_ _3\"></span>obiettivo<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>onseguito sia <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>diante<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>l\u2019in<span class=\"ff2\">casso dei flussi finanziari contrattua<span class=\"_ _1\"></span>li che mediante la vendita delle stess<span class=\"_ _1\"></span>e: tali attivit\u00e0 sono valutate al<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>fair value con variaz<span class=\"_ _1\"></span>ioni rilevate nell\u2019utile (per<span class=\"_ _1\"></span>dita) (FV<span class=\"_ _1\"></span>TPL);<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\">  le altre attivit\u00e0 finanziar<span class=\"_ _1\"></span>ie sono val<span class=\"_ _1\"></span>utate al <span class=\"_ _1\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir value</span>, <span class=\"_ _1\"></span>con variazioni r<span class=\"_ _1\"></span>ileva<span class=\"ff5\">t<span class=\"_ _1\"></span>e nell\u2019utile <span class=\"_ _1\"></span>(perdita) d\u2019es<span class=\"_ _1\"></span>ercizio<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"> </span></span>(FVTPL).<span class=\"_ _26a\"> </span> In <span class=\"_ _23\"> </span>riferimento <span class=\"_ _21\"> </span>alle <span class=\"_ _21\"> </span>attivit\u00e0 <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>inanziarie <span class=\"_ _21\"> </span>valutate <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>cost<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>ammortizz<span class=\"_ _1\"></span>ato, <span class=\"_ _23\"> </span>q<span class=\"_ _1\"></span>uando <span class=\"_ _21\"> </span>i <span class=\"_ _23\"> </span>flussi <span class=\"_ _21\"> </span>finanziar<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>contrattua<span class=\"_ _1\"></span>li<span class=\"_ _26a\"> </span> dell'attivit\u00e0 <span class=\"_ _3\"></span>finanziaria sono <span class=\"_ _3\"></span>rinegoziati <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>altrimenti modificati <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>rinegoziazione o <span class=\"_ _2\"></span>la modif<span class=\"_ _1\"></span>ica <span class=\"_ _3\"></span>non determinano<span class=\"_ _26a\"> </span> l'eliminazione <span class=\"_ _11\"></span>contab<span class=\"_ _1\"></span>ile, <span class=\"_ _11\"></span>viene <span class=\"_ _11\"></span>ricalcolato <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _11\"></span>lordo <span class=\"_ _11\"></span>dell'attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _11\"></span>finanziaria <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>l\u2019ut<span class=\"_ _1\"></span>ile <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>perdita<span class=\"_ _26a\"> </span> derivante da modifica v<span class=\"_ _1\"></span>iene rilevato n<span class=\"_ _1\"></span>ell'utile (perdita) d'es<span class=\"_ _1\"></span>ercizio.<span class=\"_ _26a\"> </span>Qualsiasi costo <span class=\"_ _3\"></span>o commissione <span class=\"_ _3\"></span>sostenut<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>retti<span class=\"_ _1\"></span>ficano<span class=\"_ _1\"></span> il <span class=\"_ _2\"></span>valore<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>contabile dell'attivit\u00e0 finanziaria modificata e <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span> ammortizzati lungo i<span class=\"_ _1\"></span>l corso del restante<span class=\"_ _1\"></span> termine dell'att<span class=\"_ _1\"></span>ivit\u00e0.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>finanzi<span class=\"_ _1\"></span>arie <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>eliminate <span class=\"_ _8\"></span>contabilment<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>quando <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>diritti <span class=\"_ _8\"></span>contrattu<span class=\"_ _1\"></span>ali <span class=\"_ _8\"></span>sui <span class=\"_ _8\"></span>fluss<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>scadono <span class=\"_ _8\"></span>o<span class=\"_ _26a\"> </span> sono <span class=\"_ _1e\"> </span>tras<span class=\"_ _1\"></span>feriti, <span class=\"_ _1e\"> </span>in <span class=\"_ _1f\"> </span>modo <span class=\"_ _1e\"> </span>sos<span class=\"_ _1\"></span>tanziale, <span class=\"_ _1e\"> </span>tutti <span class=\"_ _1f\"> </span>i <span class=\"_ _1e\"> </span>rischi <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>i <span class=\"_ _1e\"> </span>be<span class=\"_ _1\"></span>nefici <span class=\"_ _1e\"> </span>conness<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>alla <span class=\"_ _1f\"> </span>detenzione<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>delle <span class=\"_ _1f\"> </span>attivit\u00e0 <span class=\"_ _1e\"> </span>(cd.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Derecognition<span class=\"ff2\">) <span class=\"_ _1e\"> </span>o <span class=\"_ _1e\"> </span>nel <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>aso <span class=\"_ _1e\"> </span>in <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>ui <span class=\"_ _21\"> </span>la <span class=\"_ _1e\"> </span>posta <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>onsiderata <span class=\"_ _1e\"> </span>definitivamente <span class=\"_ _1e\"> </span>irrecu<span class=\"_ _1\"></span>perabile <span class=\"_ _1e\"> </span>dopo <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>he <span class=\"_ _21\"> </span>tutte <span class=\"_ _1e\"> </span>l<span class=\"_ _26a\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>necessarie procedure<span class=\"_ _1\"></span> di recupero son<span class=\"_ _1\"></span>o state c<span class=\"_ _1\"></span>ompletate.<span class=\"_ _1\"></span> Le attivit\u00e0 e le <span class=\"_ _1\"></span>passivit\u00e0 finanziari<span class=\"_ _1\"></span>e sono compens<span class=\"_ _1\"></span>ate nello stato <span class=\"_ _1\"></span>patrimoniale qu<span class=\"_ _1\"></span>ando si ha i<span class=\"_ _1\"></span>l diritto legale <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span> compensazione, <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>orrentemente <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itabile, <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>si <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>l\u2019i<span class=\"_ _1\"></span>ntenzione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>olare <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>pporto <span class=\"_ _1\"></span>su <span class=\"_ _1\"></span>base <span class=\"_ _8\"></span>netta <span class=\"_ _1\"></span>(ovver<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> di realizzare l\u2019at<span class=\"ff2\">t<span class=\"_ _1\"></span>ivit\u00e0 e contempor<span class=\"_ _1\"></span>aneamente es<span class=\"_ _1\"></span>tinguere la passivit\u00e0).<span class=\"_ _8\"></span> </span>Le <span class=\"_ _3\"></span>attivit\u00e0 finanziarie non <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutate al <span class=\"_ _3\"></span>fair value <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ilevato nell\u2019utile <span class=\"_ _3\"></span>o perdita d\u2019<span class=\"_ _3\"></span>eserciz<span class=\"_ _1\"></span>io sono <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutate inizialmente<span class=\"_ _26a\"> </span> al <span class=\"_ _2\"></span>lor<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span><span class=\"ff7\">fair <span class=\"_ _3\"></span>value<span class=\"ff2\"> <span class=\"_ _3\"></span>(valore equo) <span class=\"_ _2\"></span>pi\u00f9 <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>dell'operaz<span class=\"_ _1\"></span>ione <span class=\"_ _3\"></span>direttamente att<span class=\"_ _3\"></span>ribu<span class=\"_ _1\"></span>ib<span class=\"_ _1\"></span>ili <span class=\"_ _3\"></span>all'acquisizione <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>all'emiss<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff2\"> </span></span>dell'attivit\u00e0.<span class=\"_ _1\"></span> In <span class=\"_ _8\"></span>relazi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>delle <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _8\"></span>fin<span class=\"_ _1\"></span>anziarie, <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>applica <span class=\"_ _11\"></span>un <span class=\"_ _8\"></span>modello <span class=\"_ _11\"></span>basato <span class=\"_ _11\"></span>sulle <span class=\"_ _8\"></span>perdite<span class=\"_ _26a\"> </span> attese <span class=\"_ _21\"> </span>sui<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>crediti <span class=\"_ _1e\"> </span>ad <span class=\"_ _21\"> </span>o<span class=\"_ _1\"></span>gni <span class=\"_ _1e\"> </span>data <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>bilancio <span class=\"_ _1e\"> </span>per <span class=\"_ _21\"> </span>rif<span class=\"_ _1\"></span>lettere <span class=\"_ _1e\"> </span>le <span class=\"_ _21\"> </span>vari<span class=\"_ _1\"></span>azioni<span class=\"_ _8\"></span> <span class=\"_ _21\"> </span>ne<span class=\"_ _1\"></span>l <span class=\"_ _21\"> </span>rischio<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>redito<span class=\"_ _26a\"> </span> intervenute dalla ri<span class=\"_ _1\"></span>levazione iniziale de<span class=\"_ _1\"></span>ll\u2019attivit\u00e0 finanzi<span class=\"_ _1\"></span>aria.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.11 Attivit\u00e0 e passivit\u00e0 n<span class=\"_ _1\"></span>on correnti d<span class=\"_ _1\"></span>estinate alla d<span class=\"_ _1\"></span>ismissione<span class=\"_ _8\"></span> In questa voce vanno c<span class=\"_ _1\"></span>lassificate le attivit\u00e0 p<span class=\"_ _1\"></span>ossedute per la<span class=\"_ _1\"></span> vendita e la dism<span class=\"_ _1\"></span>issione quando:<span class=\"_ _8\"></span> a)<span class=\"ls1\">  l<span class=\"ff5\">\u2019<span class=\"_ _3\"></span>attivit\u00e0 \u00e8 im<span class=\"_ _1\"></span>mediatamente <span class=\"_ _1\"></span>disponibile per la<span class=\"_ _1\"></span> vendita;<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span></span>b)<span class=\"ls1\">  la vendita \u00e8 altamente probabile entro <span class=\"_ _1\"></span>un anno;<span class=\"_ _1\"></span> </span>c)<span class=\"ls1\">  il man<span class=\"_ _1\"></span>agement \u00e8 impeg<span class=\"_ _1\"></span>nato nella vendita;<span class=\"_ _1\"></span> </span>d)<span class=\"ls1\">  si hanno a disposizione prez<span class=\"_ _1\"></span>zi e quotazioni ragionev<span class=\"_ _1\"></span>oli;<span class=\"_ _1\"></span> </span>e)<span class=\"ls1\">  \u00e8 i<span class=\"_ _3\"></span>mprob<span class=\"_ _1\"></span>abile il cambiamen<span class=\"_ _1\"></span>to del piano di <span class=\"_ _1\"></span>dismissione;<span class=\"_ _1\"></span> </span>f)<span class=\"ls1\"> <span class=\"_ _100\"> </span><span class=\"ff5\">c\u2019\u00e8 la ricerca attiva <span class=\"_ _1\"></span>di un compratore.<span class=\"_ _1\"></span></span> </span>Tali attivit\u00e0 sono va<span class=\"_ _1\"></span>lutate al minore <span class=\"_ _1\"></span>tra il valore c<span class=\"_ _1\"></span>ontabile ed il <span class=\"_ _8\"></span><span class=\"ff7\">fair value<span class=\"_ _1\"></span></span> al netto dei<span class=\"_ _1\"></span> costi di vend<span class=\"_ _1\"></span>ita. Una volta<span class=\"_ _26a\"> </span> riclassificate in tale categ<span class=\"_ _1\"></span>oria l\u2019ammortamen<span class=\"_ _1\"></span>to cessa.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.12 Partecipazion<span class=\"_ _1\"></span>i in societ\u00e0 coll<span class=\"_ _1\"></span>egate  Una <span class=\"_ _11\"></span>collegata <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _11\"></span>sulla <span class=\"_ _20\"></span>quale <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>eserc<span class=\"_ _1\"></span>ita <span class=\"_ _11\"></span>un\u2019influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole. <span class=\"_ _20\"></span>Per <span class=\"_ _11\"></span>influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> intende <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>potere <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>partec<span class=\"_ _1\"></span>ipare <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>deter<span class=\"_ _1\"></span>minazione <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _20\"></span>finanziarie <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>gestionali <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>partecip<span class=\"_ _1\"></span>ata<span class=\"_ _26a\"> </span> senza averne il co<span class=\"_ _1\"></span>ntrollo o il contro<span class=\"_ _1\"></span>llo congiunto.<span class=\"_ _1\"></span> Le <span class=\"_ _20\"></span>partecipazioni <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _20\"></span>collegate <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>valut<span class=\"_ _1\"></span>ate <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>metodo <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>patrim<span class=\"_ _1\"></span>onio <span class=\"_ _20\"></span>netto. <span class=\"_ _20\"></span>Con <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span> metodo <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>atrimonio <span class=\"_ _3\"></span>netto, <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>partecipazione i<span class=\"_ _3\"></span>n <span class=\"_ _3\"></span>una <span class=\"_ _3\"></span>societ\u00e0 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ollegata \u00e8 <span class=\"_ _2\"></span>inizialmente <span class=\"_ _3\"></span>rilevata <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>costo. <span class=\"_ _3\"></span>Il <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore<span class=\"_ _8\"></span> contabile <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipaz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>aumentato <span class=\"_ _8\"></span>o <span class=\"_ _11\"></span>diminuito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>rilevare <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>pertine<span class=\"_ _1\"></span>nza <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipa<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span> degli <span class=\"_ _8\"></span>utili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>perdite <span class=\"_ _8\"></span>della <span class=\"_ _11\"></span>partecipata <span class=\"_ _8\"></span>rea<span class=\"_ _1\"></span>lizzati <span class=\"_ _8\"></span>do<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>data <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acqu<span class=\"_ _1\"></span>isizione, <span class=\"_ _11\"></span>tenendo <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cons<span class=\"_ _1\"></span>iderazione<span class=\"_ _1\"></span> l\u2019eventuale effetto de<span class=\"_ _1\"></span>ll\u2019elimina<span class=\"_ _1\"></span><span class=\"ff2\">zione di margini in<span class=\"_ _1\"></span>fragruppo non real<span class=\"_ _1\"></span>izzati.<span class=\"_ _1\"></span> </span>Il conto economico rif<span class=\"_ _1\"></span>lette la quota <span class=\"_ _1\"></span>di pertinenza del G<span class=\"_ _1\"></span>ruppo del risultato d<span class=\"_ _1\"></span>\u2019esercizio della societ\u00e0 co<span class=\"_ _1\"></span>llegata. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>La <span class=\"_ _2\"></span>quota <span class=\"_ _3\"></span>aggregata <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>perti<span class=\"_ _1\"></span>nenza <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>isultato <span class=\"_ _2\"></span>d\u2019<span class=\"_ _1\"></span>esercizio <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>lle <span class=\"_ _2\"></span>societ\u00e0 <span class=\"_ _3\"></span>collegate <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>r<span class=\"_ _11\"></span><span class=\"ff2\">ilevata <span class=\"_ _2\"></span>nel <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>economico <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>rappresent<span class=\"_ _1\"></span>a <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>al <span class=\"_ _23\"> </span>netto <span class=\"_ _23\"> </span>delle <span class=\"_ _23\"> </span>impos<span class=\"_ _1\"></span>te <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>quote <span class=\"_ _23\"> </span>spetta<span class=\"_ _1\"></span>nti <span class=\"_ _23\"></span>agli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"> </span>azionisti <span class=\"_ _23\"> </span>della<span class=\"_ _26a\"> </span> collegata.<span class=\"_ _26a\"> </span> Il <span class=\"_ _20\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>societ\u00e0<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>ollegate <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>predisposto<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>tessa <span class=\"_ _23\"></span>data <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>chiusura<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>bilanc<span class=\"_ _1\"></span>io <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>G<span class=\"_ _1\"></span>ruppo. <span class=\"_ _20\"></span>Ov<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> necessario, il bila<span class=\"_ _1\"></span>ncio \u00e8 rettificato per un<span class=\"_ _1\"></span>iformarlo ai pri<span class=\"_ _1\"></span>ncipi contabili di Gru<span class=\"_ _1\"></span>ppo.<span class=\"_ _1\"></span> 2.13 Rimanenze<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>manenze <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>valutate <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>inore <span class=\"_ _11\"></span>tra <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>osto <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>re<span class=\"_ _1\"></span>alizzo. <span class=\"_ _11\"></span>Il <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>osto <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>deter<span class=\"_ _1\"></span>minato <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>bas<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>al<span class=\"_ _26a\"> </span> metodo del <span class=\"_ _1\"></span>costo m<span class=\"_ _1\"></span>edio <span class=\"_ _1\"></span>ponderato. I<span class=\"_ _1\"></span>l costo <span class=\"_ _1\"></span>dei pro<span class=\"_ _8\"></span>dotti finit<span class=\"_ _1\"></span>i e <span class=\"_ _1\"></span>dei prodot<span class=\"_ _1\"></span>ti in c<span class=\"_ _1\"></span>orso <span class=\"_ _1\"></span>di lavorazi<span class=\"_ _1\"></span>one com<span class=\"_ _1\"></span>prende<span class=\"_ _26a\"> </span> costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>materie <span class=\"_ _8\"></span>pr<span class=\"_ _1\"></span>ime, <span class=\"_ _8\"></span>cost<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>lavoro <span class=\"_ _11\"></span>diretto, <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>pese <span class=\"_ _11\"></span>generali <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>produzione<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>gli <span class=\"_ _8\"></span>altr<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>costi <span class=\"_ _8\"></span>diretti <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>indiretti<span class=\"_ _26a\"> </span> che <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>sostenuti <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>portare <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>rimane<span class=\"_ _1\"></span>nze <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>luogo <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>nelle <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>dizioni <span class=\"_ _8\"></span>at<span class=\"_ _8\"></span>tuali.<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Il <span class=\"_ _8\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _8\"></span>netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>realizz<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>\u00e8<span class=\"_ _26a\"> </span> determinato sulla base dei prezzi di vendita prevalen<span class=\"_ _1\"></span>ti al netto dei costi stimati di completamento<span class=\"_ _1\"></span> e di vendita.<span class=\"_ _1\"></span> Le <span class=\"_ _11\"></span>sc<span class=\"_ _1\"></span>orte <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>bsolete <span class=\"_ _20\"></span>o <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>ento <span class=\"_ _20\"></span>rigiro <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>svalutate <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>relazione <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>loro <span class=\"_ _20\"></span>presunt<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>poss<span class=\"_ _1\"></span>ibilit\u00e0 <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>utiliz<span class=\"_ _8\"></span>zo <span class=\"_ _20\"></span>o <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> realizzo futuro, mediant<span class=\"_ _1\"></span>e l\u2019iscrizione di un a<span class=\"_ _1\"></span>pposito fondo che va<span class=\"_ _1\"></span> a rettificare il va<span class=\"_ _1\"></span>lore delle riman<span class=\"_ _1\"></span>enze.<span class=\"_ _26a\"> </span>2.14 Crediti comme<span class=\"_ _1\"></span>rciali  Sono definibili strumenti finanziari. La rilevazio<span class=\"_ _1\"></span>ne iniziale avviene al <span class=\"_ _1\"></span><span class=\"ff7\">fair value</span>; per i crediti commercial<span class=\"_ _1\"></span>i privi di<span class=\"_ _26a\"> </span> una <span class=\"_ _21\"> </span>signif<span class=\"_ _1\"></span>icativa <span class=\"_ _21\"> </span>com<span class=\"_ _1\"></span>ponente <span class=\"_ _1e\"> </span>finanziaria <span class=\"_ _1e\"> </span>il <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _21\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>rilevazio<span class=\"_ _1\"></span>ne <span class=\"_ _21\"> </span>iniziale<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8 <span class=\"_ _1e\"> </span>rappresentato <span class=\"_ _1e\"> </span>dal <span class=\"_ _1e\"> </span>prezzo <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span> transazione. <span class=\"_ _23\"></span>La <span class=\"_ _20\"></span>va<span class=\"_ _1\"></span>lutazione <span class=\"_ _23\"> </span>della <span class=\"_ _23\"></span>recuperabilit\u00e0 <span class=\"_ _23\"> </span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>effettua<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ulla <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _20\"></span>cd. <span class=\"_ _21\"> </span><span class=\"ff7\">Expected <span class=\"_ _23\"> </span>Credit<span class=\"_ _1\"></span> </span>Losses model<span class=\"ff2\"> <span class=\"ff5\">prev<span class=\"_ _1\"></span>isto dall\u2019<span class=\"_ _1\"></span>IFRS 9.</span> </span>I c<span class=\"_ _1\"></span>rediti commerc<span class=\"_ _1\"></span>iali <span class=\"_ _1\"></span>sono r<span class=\"_ _1\"></span>ilevati <span class=\"_ _1\"></span>inizialmente <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>value</span> <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>success<span class=\"_ _1\"></span>ivamente <span class=\"_ _1\"></span>valutati <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>costo <span class=\"_ _1\"></span>ammortizz<span class=\"_ _1\"></span>ato,<span class=\"_ _26a\"> </span> utilizzando <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>todo <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span><span class=\"ff5\">\u2019interesse <span class=\"_ _8\"></span>eff<span class=\"_ _1\"></span>ettivo. <span class=\"_ _8\"></span>Son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>iscritti <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>fondo <span class=\"_ _8\"></span>sv<span class=\"_ _1\"></span>alutazione,<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>esposto <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>diretta<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>deduzione de<span class=\"_ _1\"></span>i crediti stes<span class=\"_ _1\"></span>si per portare <span class=\"_ _1\"></span>la valutazion<span class=\"_ _1\"></span>e al loro <span class=\"_ _1\"></span>presunto v<span class=\"_ _1\"></span>alore di re<span class=\"_ _1\"></span>alizzo. Le perd<span class=\"_ _1\"></span>ite attese <span class=\"_ _1\"></span>sui<span class=\"_ _26a\"> </span> crediti <span class=\"_ _11\"></span>commerc<span class=\"_ _1\"></span>iali <span class=\"_ _11\"></span>sono <span class=\"_ _20\"></span>stimate <span class=\"_ _11\"></span>ut<span class=\"_ _1\"></span>ilizzando <span class=\"_ _11\"></span>un<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>mat<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>ce <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>accan<span class=\"_ _1\"></span>tonamento <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>fasce <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>scad<span class=\"_ _1\"></span>uto, <span class=\"_ _11\"></span>facend<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> riferimento  alla <span class=\"_ _1e\"> </span>propri<span class=\"_ _1\"></span>a <span class=\"_ _1f\"> </span>esperienza  storica  in <span class=\"_ _1e\"> </span>materi<span class=\"_ _1\"></span>a <span class=\"_ _1f\"> </span>di  pe<span class=\"_ _3\"></span>rdite  su <span class=\"_ _1e\"> </span>cr<span class=\"_ _1\"></span>editi,  ad <span class=\"_ _1e\"> </span>un\u2019analisi  della  po<span class=\"_ _3\"></span>siz<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span> finanziaria <span class=\"_ _27\"> </span>dei <span class=\"_ _27\"> </span>creditori,<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>orretta <span class=\"_ _27\"> </span>per <span class=\"_ _27\"> </span>comprendere <span class=\"_ _12\"> </span>fattori <span class=\"_ _26\"> </span>spec<span class=\"_ _1\"></span>ifici <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>el <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>reditore <span class=\"_ _27\"> </span>e <span class=\"_ _27\"> </span>ad <span class=\"_ _27\"> </span>una <span class=\"_ _27\"> </span>va<span class=\"_ _11\"></span>lutazione<span class=\"_ _26a\"> </span> dell\u2019evoluzione corrent<span class=\"_ _1\"></span>e e prevista di ta<span class=\"_ _1\"></span>li fattori alla dat<span class=\"_ _1\"></span>a di riferimento <span class=\"_ _1\"></span>del bilancio.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Un <span class=\"_ _3\"></span>accantonam<span class=\"_ _1\"></span>ento per <span class=\"_ _2\"></span>pe<span class=\"_ _1\"></span>rdita <span class=\"_ _3\"></span>di valore <span class=\"_ _3\"></span>dei crediti <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ommercial<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>\u00e8 rilevato <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uando vi <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>l\u2019obiettiva evidenza che<span class=\"_ _26a\"> </span> il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sar\u00e0<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>grado <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>incass<span class=\"_ _1\"></span>are <span class=\"_ _11\"></span>tu<span class=\"_ _1\"></span><span class=\"ff5\">tti <span class=\"_ _20\"></span>gli <span class=\"_ _11\"></span>am<span class=\"_ _1\"></span>montari <span class=\"_ _11\"></span>seco<span class=\"_ _1\"></span>ndo <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>origina<span class=\"_ _1\"></span>rie <span class=\"_ _11\"></span>condizion<span class=\"_ _1\"></span>i. <span class=\"_ _11\"></span>L\u2019amm<span class=\"_ _1\"></span>ontare<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>dell\u2019accantonamento<span class=\"_ _1\"></span> \u00e8 imputato al conto ec<span class=\"_ _1\"></span>onomico.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Operazioni di facto<span class=\"_ _1\"></span>ring<span class=\"_ _26a\"> </span> Il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _8\"></span>pu\u00f2 <span class=\"_ _8\"></span>avva<span class=\"_ _1\"></span>lersi <span class=\"_ _8\"></span>dello <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>cession<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>parte <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>propri <span class=\"_ _8\"></span>crediti <span class=\"_ _8\"></span>commerc<span class=\"_ _1\"></span>iali <span class=\"_ _8\"></span>attravers<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> operazioni <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>factoring <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>particolar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>pu\u00f2 <span class=\"_ _1\"></span>far <span class=\"_ _8\"></span>ricorso <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>cessioni <span class=\"_ _1\"></span>pro<span class=\"_ _8\"></span>-soluto <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>crediti <span class=\"_ _1\"></span>com<span class=\"_ _1\"></span>merciali. <span class=\"_ _1\"></span>A <span class=\"_ _8\"></span>seguito<span class=\"_ _26a\"> </span> di <span class=\"_ _1\"></span>tali <span class=\"_ _8\"></span>eventuali <span class=\"_ _1\"></span>cessi<span class=\"_ _1\"></span>oni, <span class=\"_ _1\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>prevedono <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>tras<span class=\"_ _1\"></span>ferimento <span class=\"_ _8\"></span>pressoch\u00e9 <span class=\"_ _8\"></span>totale <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>incondizionato <span class=\"_ _8\"></span>al <span class=\"_ _1\"></span>cessi<span class=\"_ _1\"></span>onario <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> rischi e benefici relativi ai<span class=\"_ _1\"></span> credit<span class=\"_ _1\"></span>i ceduti, i credit<span class=\"_ _1\"></span>i stessi vengono <span class=\"_ _1\"></span>eliminati dal bilanc<span class=\"_ _1\"></span>io.<span class=\"_ _1\"></span> 2.15 Debiti commer<span class=\"_ _1\"></span>ciali<span class=\"_ _26a\"> </span> I <span class=\"_ _1e\"> </span>debiti <span class=\"_ _1e\"> </span>com<span class=\"_ _1\"></span>merciali <span class=\"_ _1e\"> </span>e <span class=\"_ _1f\"> </span>gli <span class=\"_ _1e\"> </span>altri <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>biti, <span class=\"_ _1e\"> </span>la <span class=\"_ _1e\"> </span>cu<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>scadenz<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>rientra <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>ei <span class=\"_ _1e\"> </span>normali <span class=\"_ _1e\"> </span>t<span class=\"_ _1\"></span>ermini <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>mmerciali, <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ono<span class=\"_ _26a\"> </span> attualizzati  e  sono  iscritt<span class=\"_ _1\"></span>i  al  costo  (identificato <span class=\"_ _26\"> </span>dal  valore <span class=\"_ _26\"> </span>nominale),<span class=\"_ _1\"></span>  rappresentativo <span class=\"_ _90\"> </span>del  l<span class=\"_ _1\"></span>oro  valore  di<span class=\"_ _26a\"> </span> estinzione.<span class=\"_ _26a\"> </span> 2.16 Disponibilit\u00e0 liquide <span class=\"_ _1\"></span>e mezzi equiv<span class=\"_ _1\"></span>alenti<span class=\"_ _1\"></span> Le disponibilit\u00e0 <span class=\"_ _1\"></span>liquide e <span class=\"_ _1\"></span>mez<span class=\"_ _1\"></span>zi equivalent<span class=\"_ _1\"></span>i comprend<span class=\"_ _1\"></span>ono la <span class=\"_ _1\"></span>cassa c<span class=\"_ _1\"></span>ontanti, i d<span class=\"_ _1\"></span>epositi a v<span class=\"_ _1\"></span>ista press<span class=\"_ _1\"></span>o banche <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> gli <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nvestimenti <span class=\"_ _11\"></span>finanziari <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>breve <span class=\"_ _8\"></span>t<span class=\"_ _8\"></span>ermine <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>scadenze <span class=\"_ _11\"></span>originali <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>tre<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>mesi <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>inferiori <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>ta <span class=\"_ _11\"></span>liquidit\u00e0, <span class=\"_ _11\"></span>al<span class=\"_ _26a\"> </span> netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>orrenti <span class=\"_ _11\"></span>passivi. <span class=\"_ _11\"></span>Nella <span class=\"_ _11\"></span>situazione <span class=\"_ _11\"></span>patrimoniale <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>conti <span class=\"_ _11\"></span>correnti <span class=\"_ _11\"></span>bancari <span class=\"_ _11\"></span>passivi <span class=\"_ _11\"></span>sono <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _11\"></span>tra <span class=\"_ _11\"></span>i<span class=\"_ _26a\"> </span> finanziamenti a breve t<span class=\"_ _1\"></span>ermine nel<span class=\"_ _1\"></span>le passivit\u00e0 correnti.<span class=\"_ _8\"></span> Ai fini del <span class=\"_ _3\"></span>rendiconto finanziario consolidato le disponibilit\u00e0 liquide sono esposte <span class=\"_ _3\"></span>al netto degli scoperti bancari<span class=\"_ _26a\"> </span> alla data di chiusura <span class=\"_ _1\"></span>del periodo.<span class=\"_ _1\"></span> 2.17 Capitale sociale<span class=\"_ _1\"></span> Le azioni ordinarie so<span class=\"_ _1\"></span>no class<span class=\"_ _1\"></span>ificate nel patrimonio n<span class=\"_ _1\"></span>etto.<span class=\"_ _1\"></span> Quando <span class=\"_ _23\"></span>una <span class=\"_ _20\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>G<span class=\"_ _1\"></span>ruppo<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>ista <span class=\"_ _20\"></span>az<span class=\"_ _1\"></span>ioni <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _23\"></span>Capogruppo, <span class=\"_ _23\"></span>il <span class=\"_ _20\"></span>corr<span class=\"_ _1\"></span>ispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>comprensivo <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span> qualsiasi <span class=\"_ _1\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>attrib<span class=\"_ _1\"></span>uibile <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>transazione <span class=\"_ _8\"></span>al <span class=\"_ _1\"></span>netto <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>relativo <span class=\"_ _8\"></span>effetto <span class=\"_ _8\"></span>fiscale <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>edotto, <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>azioni <span class=\"_ _1\"></span>pro<span class=\"_ _1\"></span>prie,<span class=\"_ _26a\"> </span> dal totale del patr<span class=\"_ _1\"></span>imonio ne<span class=\"_ _1\"></span>tto di pertinenza d<span class=\"_ _1\"></span>el Gruppo fino<span class=\"_ _8\"></span> a quando es<span class=\"_ _1\"></span>se non sarann<span class=\"_ _1\"></span>o eliminate o<span class=\"_ _1\"></span> vendute.<span class=\"_ _26a\"> </span> Qualsiasi corrisp<span class=\"_ _1\"></span>ettivo i<span class=\"_ _1\"></span>ncassato <span class=\"_ _1\"></span>per la<span class=\"_ _1\"></span> loro <span class=\"_ _1\"></span>vendita, <span class=\"_ _1\"></span>al nett<span class=\"_ _1\"></span>o dei <span class=\"_ _1\"></span>costi <span class=\"_ _1\"></span>di transaz<span class=\"_ _1\"></span>ione d<span class=\"_ _1\"></span>irettamente <span class=\"_ _1\"></span>attribuibili <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> del relativo effetto fisc<span class=\"_ _1\"></span>ale, viene rilevato ne<span class=\"_ _1\"></span>l patrimonio netto di<span class=\"_ _1\"></span> pertinenza del Gru<span class=\"_ _1\"></span>ppo.<span class=\"_ _1\"></span> In accordo con qu<span class=\"_ _1\"></span>anto prev<span class=\"_ _1\"></span>isto dal principio<span class=\"_ _1\"></span> contabile internazi<span class=\"_ _1\"></span>onale IAS 32,<span class=\"_ _1\"></span> i costi sosten<span class=\"_ _1\"></span>uti per l\u2019a<span class=\"_ _1\"></span>umento di<span class=\"_ _26a\"> </span> capitale soc<span class=\"_ _1\"></span>iale, (oss<span class=\"_ _1\"></span>ia spese <span class=\"_ _1\"></span>di registro<span class=\"_ _1\"></span> o <span class=\"_ _1\"></span>altri o<span class=\"_ _1\"></span>neri dov<span class=\"_ _1\"></span>uti alla <span class=\"_ _1\"></span>autorit\u00e0 <span class=\"_ _1\"></span>di reg<span class=\"_ _1\"></span>olamentazione, <span class=\"_ _1\"></span>importi pa<span class=\"_ _1\"></span>gati a<span class=\"_ _1\"></span> consulenti <span class=\"_ _21\"> </span>l<span class=\"_ _1\"></span>egali, <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span>tabili <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>a<span class=\"_ _1\"></span>d <span class=\"_ _21\"> </span>altri <span class=\"_ _1e\"> </span>professionisti, <span class=\"_ _1e\"> </span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _21\"> </span>di <span class=\"_ _1e\"> </span>stampa, <span class=\"_ _1e\"> </span>imposte <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>registro<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>bollo), <span class=\"_ _21\"> </span>sono<span class=\"_ _1\"></span> contabilizzati come <span class=\"_ _1\"></span>una diminuzione di patri<span class=\"_ _1\"></span>monio netto, al ne<span class=\"_ _1\"></span>tto di qualsiasi ben<span class=\"_ _1\"></span>eficio fiscale connes<span class=\"_ _1\"></span>so, nella<span class=\"_ _26a\"> </span> misura <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>cui <span class=\"_ _12\"> </span>hanno <span class=\"_ _27\"> </span>n<span class=\"_ _1\"></span>atura <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>cost<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>margi<span class=\"_ _1\"></span>nali <span class=\"_ _12\"> </span>direttament<span class=\"_ _1\"></span><span class=\"ff5\">e <span class=\"_ _12\"> </span>attribuibili <span class=\"_ _12\"> </span>all\u2019operazione <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>ul <span class=\"_ _27\"> </span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _12\"> </span>che<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>diversamente sar<span class=\"_ _1\"></span>ebbero stati evitat<span class=\"_ _1\"></span>i.<span class=\"_ _26a\"> </span> 2.18 Passivit\u00e0 finanzia<span class=\"_ _1\"></span>rie<span class=\"_ _26a\"> </span> Le <span class=\"_ _2\"></span>passiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie <span class=\"_ _2\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>conta<span class=\"_ _1\"></span>bilizzate <span class=\"_ _3\"></span>inizialmente <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>base al <span class=\"_ _2\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air <span class=\"_ _2\"></span>val<span class=\"_ _1\"></span>ue<span class=\"ff2\">, <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>net<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>dei <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>transazione<span class=\"_ _1\"></span> </span></span>sostenuti. <span class=\"_ _1\"></span><span class=\"ff5\">Successivame<span class=\"_ _1\"></span>nte sono <span class=\"_ _1\"></span>esposti <span class=\"_ _1\"></span>al costo<span class=\"_ _1\"></span> am<span class=\"_ _1\"></span>mortizzato; <span class=\"_ _1\"></span>il differenz<span class=\"_ _1\"></span>iale tr<span class=\"_ _1\"></span>a l\u2019ammo<span class=\"_ _1\"></span>ntare incass<span class=\"_ _1\"></span>ato, a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>trans<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>l\u2019ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>imbors<span class=\"_ _1\"></span>are <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>contabilizzato <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>econo<span class=\"_ _1\"></span>mico <span class=\"_ _8\"></span>su<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>base<span class=\"_ _26a\"> </span> della durata dei finanz<span class=\"_ _1\"></span>iamenti, utilizzando <span class=\"_ _1\"></span>il met<span class=\"_ _1\"></span>odo del tasso d<span class=\"_ _1\"></span>i interesse effettivo<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span> Nel <span class=\"_ _11\"></span>caso <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>modificazioni <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sostanzi<span class=\"_ _1\"></span>ali <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>ini <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>uno <span class=\"_ _20\"></span>strumento <span class=\"_ _20\"></span>finanziario, <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>differenza <span class=\"_ _20\"></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _1\"></span> attuale dei flussi<span class=\"_ _1\"></span> cos\u00ec come<span class=\"_ _1\"></span> modificati (determ<span class=\"_ _1\"></span>inato utilizz<span class=\"_ _1\"></span>ando il tasso di i<span class=\"_ _1\"></span>nteresse effettivo<span class=\"_ _1\"></span> dello st<span class=\"_ _8\"></span>ru<span class=\"_ _1\"></span>mento in<span class=\"_ _26a\"> </span> essere alla data de<span class=\"_ _1\"></span>lla modifica) ed <span class=\"_ _1\"></span>il valore contabile <span class=\"_ _1\"></span>dello strumento \u00e8 <span class=\"_ _1\"></span>iscritta nel conto econo<span class=\"_ _1\"></span>mico.<span class=\"_ _8\"></span> I finanziamenti sono <span class=\"_ _3\"></span>classific<span class=\"_ _1\"></span>ati tra <span class=\"_ _3\"></span>le passivit\u00e0 correnti se il<span class=\"_ _3\"></span> Gruppo non ha <span class=\"_ _3\"></span>un diritto incondizionato di differire<span class=\"_ _26a\"> </span> l\u2019estinzione della pa<span class=\"ff2\">s<span class=\"_ _1\"></span>sivit\u00e0 per alme<span class=\"_ _1\"></span>no 12 mesi dopo l<span class=\"_ _1\"></span>a data di bilancio.<span class=\"_ _8\"></span> </span>Le passivit\u00e0<span class=\"_ _1\"></span> finanz<span class=\"_ _1\"></span>iarie son<span class=\"_ _1\"></span>o rimos<span class=\"_ _1\"></span>se dal<span class=\"_ _1\"></span>lo stato <span class=\"_ _1\"></span>patrimon<span class=\"_ _1\"></span>iale qua<span class=\"_ _1\"></span>ndo <span class=\"_ _1\"></span>la specif<span class=\"_ _1\"></span>ica obbligazio<span class=\"_ _1\"></span>ne contratt<span class=\"_ _1\"></span>uale <span class=\"_ _1\"></span>\u00e8<span class=\"_ _26a\"> </span> estinta. <span class=\"_ _1\"></span>Si <span class=\"_ _8\"></span>configura <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>un\u2019estinzione <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>modifica <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>termini<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>contrattuali <span class=\"_ _8\"></span>esistent<span class=\"_ _11\"></span><span class=\"ff2\">i, <span class=\"_ _1\"></span>qualora <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>nuove<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>condizioni abbiano mut<span class=\"_ _1\"></span>ato significativam<span class=\"_ _1\"></span>ente le pattuizioni or<span class=\"_ _1\"></span>iginarie.<span class=\"_ _1\"></span> Rientrano tra le passivit\u00e0 finanziarie inizialmente <span class=\"_ _3\"></span>valut<span class=\"_ _1\"></span>ate al <span class=\"ff7\">fair value</span> anche i debiti<span class=\"_ _3\"></span> per acquisto delle residue<span class=\"_ _26a\"> </span> quote di partecipazion<span class=\"_ _1\"></span>e di minoranza <span class=\"_ _1\"></span>oggetto di <span class=\"_ _1\"></span><span class=\"ff7\">Put&amp;Cal<span class=\"_ _1\"></span>l Option</span>.<span class=\"_ _26a\"> </span> 2.19 Passivit\u00e0 derivante<span class=\"_ _1\"></span> da <span class=\"_ _1\"></span><span class=\"ffd\">Lease<span class=\"_ _1\"></span></span> La <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>leas<span class=\"_ _1\"></span>ing <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>rilevata <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>ad <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>pari <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>valore<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>attuale <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>pag<span class=\"_ _1\"></span>amenti <span class=\"_ _8\"></span>dovuti<span class=\"_ _26a\"> </span> no<span class=\"ls1\">n v<span class=\"_ _1\"></span>ersati <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>data<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i d<span class=\"_ _1\"></span>ecorrenza, <span class=\"_ _1\"></span>attualizzat<span class=\"_ _1\"></span>i u<span class=\"_ _1\"></span>tilizzando <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>ciasc<span class=\"_ _1\"></span>un c<span class=\"_ _1\"></span>ontratto <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>tasso <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>interesse <span class=\"_ _1\"></span>implicito<span class=\"_ _26a\"> </span></span><span class=\"ls1\"> </span>del <span class=\"_ _2\"></span>leasing <span class=\"_ _3\"></span>ovvero, qu<span class=\"_ _3\"></span>alora no<span class=\"_ _3\"></span>n <span class=\"_ _2\"></span>foss<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>fac<span class=\"_ _1\"></span>ilmente <span class=\"_ _2\"></span>det<span class=\"_ _1\"></span>erminabile, <span class=\"_ _3\"></span>utilizzando i<span class=\"_ _3\"></span>l <span class=\"_ _2\"></span>tass<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>finanziamento marginale<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span> Quest\u2019ultimo <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>definito <span class=\"_ _1\"></span>ten<span class=\"_ _1\"></span>en<span class=\"ff2\">do <span class=\"_ _8\"></span>conto <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>periodic<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>pag<span class=\"_ _1\"></span>amenti, <span class=\"_ _1\"></span>della <span class=\"_ _8\"></span>durata <span class=\"_ _1\"></span>dei <span class=\"_ _8\"></span>pagamenti <span class=\"_ _1\"></span>prev<span class=\"_ _1\"></span>isti <span class=\"_ _1\"></span>dal<span class=\"_ _1\"></span> </span>contratto  di <span class=\"_ _1e\"> </span>leasing,  del  Paese <span class=\"_ _1e\"> </span>e  della  <span class=\"ff7\">Business  Unit</span>  di <span class=\"_ _1e\"> </span>app<span class=\"_ _1\"></span>artenenza  del <span class=\"_ _1e\"> </span>lo<span class=\"_ _1\"></span>catario.  I <span class=\"_ _1e\"> </span>pagament<span class=\"_ _1\"></span>i <span class=\"_ _1f\"> </span>futuri<span class=\"_ _26a\"> </span> considerati nel calco<span class=\"_ _1\"></span>lo della passivit\u00e0 sono <span class=\"_ _1\"></span>i seguenti: <span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamenti fissi, al nett<span class=\"_ _1\"></span>o di eventual<span class=\"_ _1\"></span>i incentivi da riceve<span class=\"_ _1\"></span>re;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamenti variabi<span class=\"_ _1\"></span>li; </span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Stima del pagament<span class=\"_ _1\"></span>o a titolo di gara<span class=\"_ _1\"></span>nzia del valore resi<span class=\"_ _1\"></span>duo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Pagamento <span class=\"_ _1\"></span>del prez<span class=\"_ _1\"></span>zo <span class=\"_ _1\"></span>di es<span class=\"_ _1\"></span>ercizio del<span class=\"_ _1\"></span>l\u2019opzione d<span class=\"_ _1\"></span>i acq<span class=\"_ _1\"></span>uisto, s<span class=\"_ _1\"></span>e il <span class=\"_ _1\"></span>locatario <span class=\"_ _1\"></span>\u00e8 ra<span class=\"_ _1\"></span>gionevolmen<span class=\"_ _1\"></span>te cert<span class=\"_ _1\"></span>o di<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"> </span></span>esercitarla;<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamento <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>penalit\u00e0 <span class=\"_ _2\"></span>contr<span class=\"_ _1\"></span>attuali <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>la <span class=\"_ _2\"></span>risoluzione <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _2\"></span>leasi<span class=\"_ _1\"></span>ng, <span class=\"_ _2\"></span>se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>locatario <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _3\"></span>ragionevolmente <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>erto<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>di esercitare tale opzi<span class=\"_ _1\"></span>one.<span class=\"_ _1\"></span> Dopo <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>rilevazione <span class=\"_ _8\"></span>inizial<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>leasi<span class=\"_ _1\"></span>ng <span class=\"_ _8\"></span>viene <span class=\"_ _8\"></span>success<span class=\"_ _1\"></span>ivamente <span class=\"_ _8\"></span>incrementata <span class=\"_ _8\"></span>dagl<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>interessi <span class=\"_ _8\"></span>che<span class=\"_ _26a\"> </span> maturano, diminuita <span class=\"_ _3\"></span>dei pagamenti <span class=\"_ _3\"></span>dovuti per <span class=\"_ _3\"></span>leasing ed <span class=\"_ _3\"></span>eventualmente rivalutata <span class=\"_ _3\"></span>in caso <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>modifica dei <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>uturi<span class=\"_ _26a\"> </span> pagamenti in relaz<span class=\"_ _1\"></span>ione a:<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Una variazione dell\u2019in<span class=\"_ _1\"></span>dice o del tass<span class=\"_ _1\"></span>o;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Modifica dell\u2019import<span class=\"_ _1\"></span>o che il Gruppo prevede <span class=\"_ _1\"></span>di dover pagare a titol<span class=\"_ _1\"></span>o di garanzia s<span class=\"_ _1\"></span>ul <span class=\"_ _1\"></span></span>va<span class=\"_ _1\"></span>lore residuo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Modifica della stima d<span class=\"_ _1\"></span>ell\u2019esercizio o me<span class=\"_ _1\"></span>no di un\u2019opzione di<span class=\"_ _1\"></span> acquisto, proroga o ris<span class=\"_ _1\"></span>oluzione.<span class=\"_ _8\"></span></span> </span>La <span class=\"_ _11\"></span>passivit\u00e0 <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>lease <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>consid<span class=\"_ _1\"></span>erata <span class=\"_ _11\"></span>dal <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>atura <span class=\"_ _11\"></span>finanziaria <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>pertanto<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>inclusa <span class=\"_ _11\"></span>nel <span class=\"_ _11\"></span>calcolo <span class=\"_ _11\"></span>della<span class=\"_ _26a\"> </span> posizione finanziaria <span class=\"_ _1\"></span>netta.<span class=\"_ _1\"></span> 2.20 Imposte <span class=\"_ _1\"></span> Le imposte correnti son<span class=\"_ _1\"></span>o le imposte acc<span class=\"_ _1\"></span>antonate in conform<span class=\"_ _1\"></span>it\u00e0 alla normativa <span class=\"_ _1\"></span>in vigore <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lla data di riferi<span class=\"_ _1\"></span>ment<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span> della situazione patrimon<span class=\"_ _1\"></span>iale-<span class=\"_ _1\"></span>finanziaria nei vari paesi in c<span class=\"_ _1\"></span>ui opera il Gruppo; comprendono i<span class=\"_ _1\"></span>noltre <span class=\"_ _1\"></span>le rettifich<span class=\"_ _26a\"> </span>e<span class=\"_ _26a\"> </span> alle imposte di eserc<span class=\"_ _1\"></span>izi prec<span class=\"_ _1\"></span>edenti.<span class=\"_ _26a\"> </span> Le imposte<span class=\"_ _1\"></span> antici<span class=\"_ _1\"></span>pate e <span class=\"_ _1\"></span>differite <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>iscritte <span class=\"_ _1\"></span>in m<span class=\"_ _1\"></span>odo <span class=\"_ _1\"></span>da r<span class=\"_ _1\"></span>iflettere tutte<span class=\"_ _1\"></span> le <span class=\"_ _1\"></span>differen<span class=\"_ _1\"></span>ze tempora<span class=\"_ _1\"></span>nee es<span class=\"_ _1\"></span>istenti <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span> data del <span class=\"_ _3\"></span>bilancio tra il valore attri<span class=\"_ _3\"></span>buito ad una attivit\u00e0/passivit\u00e0 ai fini fiscali <span class=\"_ _3\"></span>e quello attribuito secondo i <span class=\"_ _3\"></span>princip<span class=\"_ _26a\"> </span>i<span class=\"_ _26a\"> </span> contabili applicati.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>imposte <span class=\"_ _11\"></span>differite <span class=\"_ _8\"></span>attive <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>imposte <span class=\"_ _8\"></span>differ<span class=\"_ _1\"></span>ite <span class=\"_ _8\"></span>passive <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>calcolate<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>aliquot<span class=\"_ _26a\"> </span>e<span class=\"_ _26a\"> </span> fiscali stabilite dalla norm<span class=\"_ _1\"></span>ativa vigente.<span class=\"_ _1\"></span> Le attivit\u00e0 <span class=\"_ _3\"></span>per le imposte anticipate sono contabilizzate su <span class=\"_ _3\"></span>tutte le di<span class=\"_ _3\"></span>fferen<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>e temporanee, nella misura in <span class=\"_ _3\"></span>cui \u00e8<span class=\"_ _26a\"> </span> probabile <span class=\"_ _20\"></span>che <span class=\"_ _11\"></span>sar\u00e0 <span class=\"_ _20\"></span>re<span class=\"_ _1\"></span>alizzato <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>reddito <span class=\"_ _20\"></span>imponibile <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>fronte <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _20\"></span>quale <span class=\"_ _20\"></span>possa <span class=\"_ _20\"></span>essere <span class=\"_ _20\"></span>utilizzata <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>differenz<span class=\"_ _26a\"> </span>a<span class=\"_ _26a\"> </span> temporanea deduc<span class=\"_ _1\"></span>ibile.<span class=\"_ _26a\"> </span>Lo <span class=\"_ _11\"></span>stess<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>principio <span class=\"_ _20\"></span>si <span class=\"_ _20\"></span>appli<span class=\"_ _1\"></span>ca <span class=\"_ _11\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _11\"></span>contabi<span class=\"_ _1\"></span>lizzazione <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>imposte <span class=\"_ _20\"></span>diff<span class=\"_ _8\"></span>erite<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>att<span class=\"_ _1\"></span>ive <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ulle <span class=\"_ _20\"></span>perdite<span class=\"_ _26a\"> </span>fiscali.<span class=\"_ _26a\"> </span>Il <span class=\"_ _3\"></span>valore contabile delle attivit\u00e0 <span class=\"_ _3\"></span>fiscali differite viene <span class=\"_ _3\"></span>rivisto a ciascuna <span class=\"_ _3\"></span>data di bilancio <span class=\"_ _3\"></span>ed eventualmente ridotto<span class=\"_ _26a\"> </span>nella <span class=\"_ _2\"></span>misura<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _2\"></span>cui non <span class=\"_ _2\"></span>sia <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _2\"></span>proba<span class=\"_ _1\"></span>bile <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>alizzare <span class=\"_ _3\"></span>un <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eddito <span class=\"_ _3\"></span>imponibile <span class=\"_ _3\"></span>sufficiente, tal<span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>da <span class=\"_ _3\"></span>cons<span class=\"_ _8\"></span>entirne <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>utto,<span class=\"_ _26a\"> </span>o <span class=\"_ _3\"></span>in parte, il <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ecupero delle atti<span class=\"_ _3\"></span>vit\u00e0. Tali attivit\u00e0 <span class=\"_ _3\"></span>vengono ripristinate nel <span class=\"_ _3\"></span>caso in <span class=\"_ _3\"></span>cui vengano meno le <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ndizioni<span class=\"_ _26a\"> </span>che ne hanno deter<span class=\"_ _1\"></span>minato lo stralcio. <span class=\"_ _1\"></span> La <span class=\"_ _23\"></span>regola <span class=\"_ _23\"> </span>gen<span class=\"_ _1\"></span>erale <span class=\"_ _23\"> </span>preved<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>che, <span class=\"_ _23\"> </span>salvo<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>specifiche <span class=\"_ _23\"> </span>ec<span class=\"_ _1\"></span>cezioni, <span class=\"_ _23\"> </span>le <span class=\"_ _21\"> </span>imposte <span class=\"_ _23\"> </span>differit<span class=\"_ _1\"></span>e <span class=\"_ _21\"> </span>pass<span class=\"_ _1\"></span>ive <span class=\"_ _23\"> </span>debbano <span class=\"_ _21\"> </span>essere<span class=\"_ _26a\"> </span>sempre rilevate.<span class=\"_ _1\"></span> Il <span class=\"_ _26\"> </span>Gruppo <span class=\"_ _27\"> </span>analizza <span class=\"_ _27\"> </span>gli <span class=\"_ _27\"> </span><span class=\"ff7\">unc<span class=\"_ _1\"></span>ertain <span class=\"_ _26\"> </span>tax <span class=\"_ _27\"> </span>treatments<span class=\"_ _1\"></span></span> <span class=\"_ _26\"> </span>(individ<span class=\"_ _1\"></span>ualmente <span class=\"_ _26\"> </span>o<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>nel <span class=\"_ _27\"> </span>loro <span class=\"_ _27\"> </span>insieme, <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>seconda<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>delle<span class=\"_ _26a\"> </span>caratteristiche), <span class=\"_ _1e\"> </span>ass<span class=\"_ _1\"></span>umendo <span class=\"_ _1e\"> </span>sempre <span class=\"_ _1f\"> </span>che <span class=\"_ _1e\"> </span>l\u2019autorit<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1e\"> </span>esamini <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>posizione <span class=\"_ _1e\"> </span>f<span class=\"_ _1\"></span>iscale <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>ogge<span class=\"_ _1\"></span>tto, <span class=\"_ _1e\"> </span>avendo <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>iena<span class=\"_ _26a\"> </span>conoscenza <span class=\"_ _3\"></span><span class=\"ff5\">di <span class=\"_ _2\"></span>tut<span class=\"_ _1\"></span>te <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>informaz<span class=\"_ _1\"></span>ioni <span class=\"_ _2\"></span>rileva<span class=\"_ _1\"></span>nti. <span class=\"_ _2\"></span>Ne<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>caso <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>cui <span class=\"_ _2\"></span>si <span class=\"_ _3\"></span>ritenga <span class=\"_ _3\"></span>non <span class=\"_ _3\"></span>probabile <span class=\"_ _3\"></span>che <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>\u2019autorit\u00e0 <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>iscale <span class=\"_ _3\"></span>accetti<span class=\"_ _26a\"> </span></span>il tr<span class=\"_ _1\"></span>attamento <span class=\"_ _8\"></span>fiscale <span class=\"_ _1\"></span>seguito, <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iflette <span class=\"_ _1\"></span>l\u2019effetto <span class=\"_ _8\"></span>dell\u2019incertezza <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ella <span class=\"_ _1\"></span>misura<span class=\"_ _1\"></span>zione <span class=\"_ _1\"></span>delle <span class=\"_ _8\"></span>proprie <span class=\"_ _1\"></span>impost<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>sul reddito correnti e <span class=\"_ _1\"></span>differit<span class=\"ff5\">e c<span class=\"_ _1\"></span>ome previsto dall\u2019IFRIC <span class=\"_ _1\"></span>23.<span class=\"_ _1\"></span></span> Le <span class=\"_ _8\"></span>imposte <span class=\"_ _1\"></span>(c<span class=\"_ _1\"></span>orrenti <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>differite) <span class=\"_ _8\"></span>relative <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>compon<span class=\"_ _1\"></span>enti <span class=\"_ _8\"></span>rilevati <span class=\"_ _8\"></span>direttamente <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>Patrimon<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>Nett<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>imputate<span class=\"_ _26a\"> </span>direttamente a Patri<span class=\"_ _1\"></span>monio Netto.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>passivit\u00e0 <span class=\"_ _11\"></span>fiscali <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>imp<span class=\"_ _1\"></span>oste <span class=\"_ _11\"></span>correnti <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>compensate <span class=\"_ _11\"></span>solo <span class=\"_ _8\"></span>se <span class=\"_ _20\"></span>si <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>un <span class=\"_ _8\"></span>dirit<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>es<span class=\"_ _1\"></span>ercitabile <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>compensare <span class=\"_ _11\"></span>gli <span class=\"_ _11\"></span>importi <span class=\"_ _11\"></span>rilevati <span class=\"_ _11\"></span>contabilmente <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>inte<span class=\"_ _1\"></span>nde <span class=\"_ _11\"></span>liquidare <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>saldare <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>partite <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>intende<span class=\"_ _26a\"> </span>realizzare <span class=\"_ _8\"></span>l\u2019attivit\u00e0 <span class=\"_ _11\"></span>ed <span class=\"_ _8\"></span>estinguere <span class=\"_ _8\"></span>contempora<span class=\"_ _1\"></span>neamente <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>passivit\u00e0. <span class=\"_ _8\"></span>Si <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>grad<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ompensare <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>imposte<span class=\"_ _26a\"> </span>differite <span class=\"_ _12\"> </span>attive <span class=\"_ _27\"> </span>e <span class=\"_ _12\"> </span>pass<span class=\"_ _1\"></span>ive <span class=\"_ _12\"> </span>solo <span class=\"_ _27\"> </span>se <span class=\"_ _12\"> </span>si <span class=\"_ _12\"> </span>prevede <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>diven<span class=\"_ _1\"></span>gano <span class=\"_ _12\"> </span>contemporanea<span class=\"_ _1\"></span>mente <span class=\"_ _12\"> </span>liquide, <span class=\"_ _12\"> </span>esigibili <span class=\"_ _12\"> </span>e<span class=\"_ _26a\"> </span>scomputabili, in relaz<span class=\"_ _1\"></span>ione al medesimo <span class=\"_ _1\"></span>ente impositore. <span class=\"_ _1\"></span> 2.21 Trattamento di fine<span class=\"_ _1\"></span> rapporto<span class=\"_ _1\"></span> Il trattamento di <span class=\"_ _1\"></span>fine rapport<span class=\"_ _1\"></span>o rientra n<span class=\"_ _1\"></span>ella tipologia de<span class=\"_ _1\"></span>i piani<span class=\"_ _8\"></span> a benef<span class=\"_ _1\"></span>ici definiti, <span class=\"_ _1\"></span>soggetti a <span class=\"_ _1\"></span>valutazioni d<span class=\"_ _1\"></span>i natura<span class=\"_ _26a\"> </span>attuariale <span class=\"_ _20\"></span>(morta<span class=\"_ _1\"></span>lit\u00e0, <span class=\"_ _20\"></span>probabilit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>cessaz<span class=\"_ _1\"></span>ioni, <span class=\"_ _20\"></span>ecc.) <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span>d <span class=\"_ _20\"></span>esprime<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>valore <span class=\"_ _23\"></span>attuale <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>b<span class=\"_ _1\"></span>eneficio, <span class=\"_ _20\"></span>er<span class=\"_ _1\"></span>ogabile <span class=\"_ _20\"></span>al<span class=\"_ _26a\"> </span>termine del rapporto d<span class=\"_ _1\"></span>i lavoro, che i dipe<span class=\"_ _1\"></span>ndenti hanno matura<span class=\"_ _1\"></span>to alla data di <span class=\"_ _1\"></span>bilancio.<span class=\"_ _8\"></span> I <span class=\"_ _20\"> </span>costi <span class=\"_ _23\"> </span>relativi <span class=\"_ _20\"></span>all\u2019increment<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>del <span class=\"_ _20\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"> </span>att<span class=\"_ _1\"></span>uale <span class=\"_ _20\"> </span>dell\u2019o<span class=\"_ _1\"></span>bbligazione, <span class=\"_ _23\"> </span>derivanti <span class=\"_ _20\"> </span>dal<span class=\"_ _1\"></span>l\u2019avvicinarsi <span class=\"_ _20\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>mome<span class=\"_ _1\"></span>nto <span class=\"_ _20\"></span>del<span class=\"_ _26a\"> </span>pagamento, <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>inclusi <span class=\"_ _8\"></span>tra <span class=\"_ _8\"></span>gli <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span>neri <span class=\"_ _8\"></span>finanziari. <span class=\"_ _1\"></span>Tu<span class=\"_ _1\"></span>tti <span class=\"_ _8\"></span>gli <span class=\"_ _8\"></span>altri <span class=\"_ _1\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>rientra<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>nell\u2019accantoname<span class=\"_ _1\"></span>nto <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>levati<span class=\"_ _26a\"> </span>nel conto economico c<span class=\"_ _1\"></span>ome c<span class=\"_ _1\"></span>osto del personale. Gli uti<span class=\"_ _1\"></span>li e le perdite attuari<span class=\"_ _1\"></span>ali sono contabil<span class=\"_ _1\"></span>izzati nel prospetto<span class=\"_ _1\"></span> delle variazioni del cont<span class=\"_ _1\"></span>o economico com<span class=\"_ _1\"></span>plessivo nell\u2019<span class=\"_ _1\"></span>esercizio in cui si man<span class=\"_ _1\"></span>ifestano.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.22 Fondi per rischi<span class=\"_ _1\"></span> ed oneri<span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>acc<span class=\"_ _1\"></span>antonamenti <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>fondi <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>risch<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>oner<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>iscritti <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>bilancio <span class=\"_ _11\"></span>quando <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _8\"></span>h<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n\u2019obbligazione<span class=\"_ _1\"></span> legale <span class=\"_ _12\"> </span>o <span class=\"_ _27\"> </span>i<span class=\"_ _1\"></span>mplicita <span class=\"_ _12\"> </span>risultante <span class=\"_ _12\"> </span>da <span class=\"_ _12\"> </span>eventi <span class=\"_ _27\"> </span>pas<span class=\"_ _1\"></span>sati, <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>probabile <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>si<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>richiesto <span class=\"_ _12\"> </span>un <span class=\"_ _27\"> </span>p<span class=\"_ _1\"></span>agamento <span class=\"_ _12\"> </span>a <span class=\"_ _12\"> </span>saldo<span class=\"_ _26a\"> </span>dell\u2019obbligazione ed <span class=\"_ _1\"></span>\u00e8 possibile effettuare <span class=\"_ _1\"></span>una st<span class=\"_ _1\"></span>ima attendibile de<span class=\"_ _1\"></span>ll\u2019importo relativ<span class=\"_ _1\"></span>o. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>Eventuali passivit\u00e0 def<span class=\"_ _1\"></span>inite come potenz<span class=\"_ _1\"></span>iali non danno luogo a<span class=\"_ _1\"></span>d accantonamenti <span class=\"_ _1\"></span>a fondi rischi ed on<span class=\"_ _1\"></span>eri.   <span class=\"_ _8\"></span> 2.23 Ricavi<span class=\"_ _26a\"> </span>I <span class=\"_ _3\"></span>ricavi sono riconosciuti nel <span class=\"_ _3\"></span>conto economico secondo il <span class=\"_ _3\"></span>principio della competenza econo<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ica e <span class=\"_ _3\"></span>temporale<span class=\"_ _1\"></span> e<span class=\"_ _26a\"> </span>sono rilevati <span class=\"_ _1\"></span>nella m<span class=\"_ _1\"></span>isura in<span class=\"_ _1\"></span> cui \u00e8 <span class=\"_ _1\"></span>probabile <span class=\"_ _1\"></span>che al<span class=\"_ _1\"></span>la Societ\u00e0 c<span class=\"_ _1\"></span>onfluiranno d<span class=\"_ _1\"></span>ei ben<span class=\"_ _1\"></span>efici econom<span class=\"_ _1\"></span>ici associati <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span>vendita di beni o al<span class=\"_ _1\"></span>la prestazione di serv<span class=\"_ _1\"></span>izi ed il loro a<span class=\"_ _1\"></span>mmontare pu\u00f2 essere d<span class=\"_ _1\"></span>eterminato in m<span class=\"_ _1\"></span>odo attendibile<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span> I <span class=\"_ _20\"></span>ricavi <span class=\"_ _23\"></span>sono <span class=\"_ _20\"></span>co<span class=\"_ _1\"></span>ntabilizzati <span class=\"_ _23\"> </span>al <span class=\"_ _20\"></span>netto <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>resi<span class=\"_ _1\"></span>, <span class=\"_ _20\"></span>sconti, <span class=\"_ _23\"></span>abbuoni <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>tasse <span class=\"_ _23\"></span>direttamente <span class=\"_ _23\"></span>associate <span class=\"_ _20\"></span>alla <span class=\"_ _23\"></span>vendita <span class=\"_ _23\"></span>del<span class=\"_ _26a\"> </span>prodotto o alla prestaz<span class=\"_ _1\"></span>ione del serviz<span class=\"_ _1\"></span>io.<span class=\"_ _26a\"> </span>Le vendite <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>riconosciut<span class=\"_ _1\"></span>e al <span class=\"_ _1\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _1\"></span>del corr<span class=\"_ _1\"></span>ispettivo <span class=\"_ _1\"></span>ricevuto p<span class=\"_ _1\"></span>er la <span class=\"_ _1\"></span>vendita <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>prodotti e<span class=\"_ _1\"></span> serv<span class=\"_ _1\"></span>izi, quand<span class=\"_ _1\"></span>o<span class=\"_ _8\"></span> vi sono le seguenti cond<span class=\"_ _1\"></span>izioni:<span class=\"_ _1\"></span> a)<span class=\"ls1\">  avviene il sostanziale trasferimento d<span class=\"_ _1\"></span>ei rischi e benef<span class=\"_ _1\"></span>ici connessi alla pr<span class=\"_ _1\"></span>opriet\u00e0 del bene<span class=\"_ _1\"></span>;<span class=\"_ _8\"></span> </span>b)<span class=\"ls1\">  il<span class=\"_ _3\"></span> valore <span class=\"_ _1\"></span>dei ricavi \u00e8 determ<span class=\"_ _1\"></span>inato in maniera att<span class=\"_ _1\"></span>endibile;<span class=\"_ _1\"></span> </span>c)<span class=\"ls1\">  \u00e8 prob<span class=\"_ _1\"></span>abile che i benefici e<span class=\"_ _1\"></span>conomici derivanti <span class=\"_ _1\"></span>dalla vendita saranno f<span class=\"_ _1\"></span><span class=\"ff5\">ru<span class=\"_ _1\"></span>iti dall\u2019impr<span class=\"_ _1\"></span>esa;</span> </span>d)<span class=\"ls1\">  i <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _20\"></span>sostenuti, <span class=\"_ _23\"> </span>o <span class=\"_ _20\"></span>da <span class=\"_ _23\"></span>sostenere, <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>terminati <span class=\"_ _20\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _23\"></span>modo <span class=\"_ _20\"></span>attendibile <span class=\"_ _23\"></span>e <span class=\"_ _20\"></span>rispettano <span class=\"_ _23\"></span>il <span class=\"_ _20\"></span>princip<span class=\"_ _1\"></span>io <span class=\"_ _20\"></span>della<span class=\"_ _1\"></span> </span>correlazione con i r<span class=\"_ _1\"></span>icavi.<span class=\"_ _26a\"> </span>La contabilizzazione de<span class=\"_ _1\"></span>i ricavi prevede <span class=\"_ _1\"></span>il rispetto dei pass<span class=\"_ _1\"></span>aggi previsti dall\u2019IFR<span class=\"_ _1\"></span>S 15:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>identificazione de<span class=\"_ _1\"></span>l contratto con il cl<span class=\"_ _1\"></span>iente;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>identificazione delle <span class=\"_ _1\"></span><span class=\"ff7\">performance ob<span class=\"_ _1\"></span>ligations</span> prev<span class=\"_ _1\"></span>iste nel contratt<span class=\"_ _1\"></span>o;<span class=\"_ _26a\"> </span></span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>determinazione del <span class=\"_ _1\"></span>prezzo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>allocazione del prezz<span class=\"_ _1\"></span>o alle <span class=\"_ _1\"></span><span class=\"ff7\">performance obl<span class=\"_ _1\"></span>igations</span> co<span class=\"_ _1\"></span>ntenute nel contrat<span class=\"_ _1\"></span>to;<span class=\"_ _26a\"> </span></span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\"></span><span class=\"ff5\">riconoscimento dei ricavi<span class=\"_ _1\"></span> quando l\u2019entit\u00e0 sod<span class=\"_ _1\"></span>disfa ciasc<span class=\"_ _1\"></span>una <span class=\"_ _1\"></span><span class=\"ff7\">performanc<span class=\"_ _1\"></span>e obligation</span></span>.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> </span>I <span class=\"_ _1\"></span>ricavi <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>rico<span class=\"_ _1\"></span>nosciuti <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>momento <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>trasferimento <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>controllo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _1\"></span>merc<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>cliente <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _1\"></span>coincide <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span>momento <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>cui <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>erce <span class=\"_ _8\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>consegnat<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>cl<span class=\"_ _1\"></span>iente <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span><span class=\"ff7\">at <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>point <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>time</span>), <span class=\"_ _11\"></span>nel <span class=\"_ _8\"></span>rispetto <span class=\"_ _8\"></span>delle <span class=\"_ _11\"></span>specifiche <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ondizioni<span class=\"_ _26a\"> </span>contrattuali regolate co<span class=\"_ _1\"></span>n la clientela. <span class=\"_ _1\"></span> Il Gruppo ha ritenuto che la disaggr<span class=\"_ _1\"></span>egazione dei ricavi per s<span class=\"_ _1\"></span>egmenti operativi sia appropri<span class=\"_ _1\"></span>ata per soddisfare il<span class=\"_ _26a\"> </span>requisito di informativa ri<span class=\"_ _3\"></span>chi<span class=\"_ _1\"></span>esto in quanto <span class=\"_ _3\"></span>si tra<span class=\"_ _1\"></span>tta di <span class=\"_ _3\"></span>informaz<span class=\"_ _1\"></span>ioni regolarmente riviste dal <span class=\"ff7\">manage<span class=\"_ _1\"></span>ment </span>al fine<span class=\"_ _26a\"> </span>di valutare la <span class=\"ff7\">perf<span class=\"_ _1\"></span>omance</span> fi<span class=\"_ _1\"></span>nanziaria della soc<span class=\"_ _1\"></span>iet\u00e0.<span class=\"_ _1\"></span> 2.24 Contributi pubblici<span class=\"_ _1\"></span> I <span class=\"_ _3\"></span>contributi pubblici sono <span class=\"_ _2\"></span>rile<span class=\"_ _1\"></span>vati <span class=\"_ _3\"></span>al <span class=\"ff7\">fair value</span> <span class=\"_ _3\"></span>quando sussiste <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>ragionevol<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>certezza che <span class=\"_ _3\"></span>essi saranno <span class=\"_ _3\"></span>ric<span class=\"_ _1\"></span>evuti<span class=\"_ _1\"></span> e tutte le condizioni ad <span class=\"_ _1\"></span>essi riferite risu<span class=\"_ _1\"></span>ltino soddisfatte.<span class=\"_ _1\"></span> Quando <span class=\"_ _11\"></span>i <span class=\"_ _20\"></span>contributi <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>orrelati <span class=\"_ _11\"></span>a <span class=\"_ _20\"></span>component<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>sto <span class=\"_ _11\"></span>(per <span class=\"_ _20\"></span>esempio <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>contri<span class=\"_ _1\"></span>buti <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>conto <span class=\"_ _20\"></span>esercizio) <span class=\"_ _20\"></span>sono<span class=\"_ _26a\"> </span>rilevati <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>me <span class=\"_ _1e\"> </span>ricav<span class=\"_ _1\"></span>i, <span class=\"_ _1e\"> </span>m<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ono <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>ipartiti <span class=\"_ _1f\"> </span>sistematicamente  su <span class=\"_ _1e\"> </span>differen<span class=\"_ _1\"></span>ti <span class=\"_ _1e\"> </span>eserc<span class=\"_ _1\"></span>izi  i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>modo  che <span class=\"_ _1e\"> </span>i  ri<span class=\"_ _3\"></span>cavi <span class=\"_ _1f\"> </span>siano<span class=\"_ _26a\"> </span>commisurati ai cost<span class=\"_ _1\"></span>i che essi intendono comp<span class=\"_ _1\"></span>ensare.<span class=\"_ _1\"></span> Nel <span class=\"_ _8\"></span>cas<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>contributo <span class=\"_ _8\"></span>corr<span class=\"_ _1\"></span>elato <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>un\u2019<span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _11\"></span>(es. <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>tributo <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>conto <span class=\"_ _11\"></span>impianti) <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>suo <span class=\"_ _8\"></span>ammontare <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>sospeso<span class=\"_ _26a\"> </span>nelle passivit\u00e0 a lungo termine e progressivame<span class=\"_ _1\"></span>nte avviene il rilas<span class=\"_ _1\"></span>cio a conto economico a rate costanti lungo<span class=\"_ _26a\"> </span>un arco temporale p<span class=\"_ _1\"></span>ari alla durata de<span class=\"_ _1\"></span>lla vita utile dell\u2019at<span class=\"_ _1\"></span>tivit\u00e0 di riferimento. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.25 Proventi e on<span class=\"_ _1\"></span>eri finanz<span class=\"_ _1\"></span>iari<span class=\"_ _26a\"> </span>I <span class=\"_ _23\"> </span>prov<span class=\"_ _1\"></span>enti <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>g<span class=\"_ _1\"></span>li <span class=\"_ _21\"> </span>oneri <span class=\"_ _21\"> </span>finan<span class=\"_ _1\"></span>ziari <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>com<span class=\"_ _1\"></span>petenza <span class=\"_ _21\"> </span>utilizzando<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>tasso <span class=\"_ _21\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>intere<span class=\"_ _8\"></span>sse <span class=\"_ _1e\"> </span>effettivo <span class=\"_ _21\"> </span>ed<span class=\"_ _26a\"> </span>includono <span class=\"_ _8\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>utili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>perdi<span class=\"_ _1\"></span>te <span class=\"_ _8\"></span>su <span class=\"_ _11\"></span>cambi <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>utili <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>perdit<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>su <span class=\"_ _11\"></span>strumenti <span class=\"_ _8\"></span>finanzi<span class=\"_ _1\"></span>ari <span class=\"_ _8\"></span>derivati <span class=\"_ _11\"></span>imputati <span class=\"_ _8\"></span>a <span class=\"_ _11\"></span>conto<span class=\"_ _26a\"> </span>economico.<span class=\"_ _26a\"> </span>2.26 Distribuzione di<span class=\"_ _1\"></span> dividendi<span class=\"_ _1\"></span> I <span class=\"_ _3\"></span>dividend<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>sulle azioni ordinarie della <span class=\"_ _3\"></span>Capo<span class=\"_ _1\"></span>gruppo sono ri<span class=\"_ _3\"></span>levati come passi<span class=\"_ _1\"></span><span class=\"ff5\">vit\u00e0 nel bilancio dell\u2019esercizio in <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ui<span class=\"_ _26a\"> </span></span>la distribuzione \u00e8 ap<span class=\"_ _1\"></span>provata dall\u2019assemb<span class=\"_ _1\"></span>lea.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.27 Utile per azione<span class=\"_ _1\"></span> L\u2019utile <span class=\"_ _1\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>azione <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>alcolato <span class=\"_ _8\"></span>dividendo <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>isultato <span class=\"_ _8\"></span>economico <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>Gruppo <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>media <span class=\"_ _8\"></span>ponderata <span class=\"_ _8\"></span>delle<span class=\"_ _26a\"> </span>azioni in circolazione duran<span class=\"_ _1\"></span>te <span class=\"ff5\">l<span class=\"_ _1\"></span>\u2019esercizio, escluden<span class=\"_ _1\"></span>do le azioni proprie<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span></span> Emak S.p.A. non ha <span class=\"_ _1\"></span>azioni ordinarie pot<span class=\"_ _1\"></span>enziali.<span class=\"_ _1\"></span> 2.28 Rendiconto finanz<span class=\"_ _1\"></span>iario<span class=\"_ _1\"></span> Il rendiconto finanziar<span class=\"_ _1\"></span>io \u00e8 stato redatto<span class=\"_ _1\"></span> applicando il m<span class=\"_ _1\"></span>etodo indiretto.<span class=\"_ _8\"></span> Le <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>isponibilit\u00e0 liquide <span class=\"_ _2\"></span>ed i <span class=\"_ _3\"></span>mezzi <span class=\"_ _3\"></span>equivalenti inclusi <span class=\"_ _2\"></span>nel<span class=\"_ _1\"></span> rendiconto <span class=\"_ _3\"></span>finanziario comprendono <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>saldi patrimoniali<span class=\"_ _26a\"> </span>di <span class=\"_ _11\"></span>tale <span class=\"_ _11\"></span>voce <span class=\"_ _20\"></span>alla <span class=\"_ _11\"></span>data <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>riferime<span class=\"_ _1\"></span>nto. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>prov<span class=\"_ _1\"></span>enti <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>costi <span class=\"_ _20\"></span>relativi <span class=\"_ _11\"></span>a <span class=\"_ _20\"></span>interessi, <span class=\"_ _11\"></span>divi<span class=\"_ _1\"></span>dendi <span class=\"_ _11\"></span>ricevuti <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>imposte <span class=\"_ _20\"></span>sul<span class=\"_ _26a\"> </span>reddito sono inclusi ne<span class=\"_ _1\"></span>i flussi finanziari g<span class=\"_ _1\"></span>enerati dalla g<span class=\"_ _1\"></span>estione operativa. <span class=\"_ _8\"></span> 2.2<span class=\"ls1\">9 Variazione <span class=\"_ _1\"></span>ai principi cont<span class=\"_ _1\"></span>abili e nuovi principi<span class=\"_ _1\"></span> contabili <span class=\"_ _1\"></span> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS applicati dal 1\u00b0<span class=\"_ _1\"></span> gennaio 20<span class=\"_ _1\"></span>22<span class=\"_ _1\"></span><span class=\"ff3 fs3\"> </span>I <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>eguenti <span class=\"_ _20\"></span>principi <span class=\"_ _20\"></span>contabili, <span class=\"_ _20\"></span>emend<span class=\"_ _1\"></span>amenti <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>interpretazioni <span class=\"_ _20\"></span>IFR<span class=\"_ _1\"></span>S <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>tati <span class=\"_ _20\"></span>applicati <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>prima<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>olta<span class=\"_ _8\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span>Gruppo a partire dal 1\u00b0 <span class=\"_ _1\"></span>gennaio 2022:<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 14 maggio 202<span class=\"_ _1\"></span>0 lo IASB ha pubb<span class=\"_ _1\"></span>licato i segue<span class=\"_ _1\"></span>nti emendamenti den<span class=\"_ _1\"></span>ominati:<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>3 <span class=\"_ _20\"></span>Business <span class=\"_ _20\"></span>Combinations<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>modifiche <span class=\"_ _20\"></span>hanno <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>scopo <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>aggiornare <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span></span></span></span><span class=\"ff2\"><span class=\"ffd fc1\"><span class=\"ff2\"> </span></span></span>riferimento <span class=\"_ _23\"> </span>pr<span class=\"_ _1\"></span>esente <span class=\"_ _21\"> </span>nell\u2019IFRS <span class=\"_ _21\"> </span>3 <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>Conc<span class=\"_ _1\"></span>eptual <span class=\"_ _23\"> </span>Fr<span class=\"_ _1\"></span>amework <span class=\"_ _21\"> </span>nella <span class=\"_ _21\"> </span>versione <span class=\"_ _21\"> </span>rivista, <span class=\"_ _21\"> </span>senza <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>ci\u00f2<span class=\"_ _26a\"> </span> comporti modifiche al<span class=\"_ _1\"></span>le disposizioni de<span class=\"_ _1\"></span>l principio.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _23\"></span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>16 <span class=\"_ _23\"></span>Property, <span class=\"_ _23\"></span>Plant <span class=\"_ _23\"></span>and <span class=\"_ _23\"></span>Equipment<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _23\"> </span>le <span class=\"_ _23\"></span>modifiche <span class=\"_ _23\"> </span>hanno <span class=\"_ _23\"> </span>lo <span class=\"_ _23\"> </span>scopo <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>non<span class=\"_ _26a\"> </span></span></span></span><span class=\"ff2\"><span class=\"ffd fc1\"><span class=\"ff2\"> </span></span></span>consentire <span class=\"_ _21\"> </span>la <span class=\"_ _21\"> </span>deduz<span class=\"_ _1\"></span>ione <span class=\"_ _21\"> </span>dal <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>osto <span class=\"_ _21\"> </span>delle <span class=\"_ _1e\"> </span>attivit\u00e0 <span class=\"_ _21\"> </span>materiali <span class=\"_ _21\"> </span>l\u2019importo<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>ricevuto <span class=\"_ _21\"> </span>dalla <span class=\"_ _21\"> </span>ve<span class=\"_ _1\"></span>ndita <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>beni<span class=\"_ _26a\"> </span> prodotti <span class=\"_ _8\"></span>nella <span class=\"_ _8\"></span>fase <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>test <span class=\"_ _8\"></span>dell\u2019attivit\u00e0 <span class=\"_ _8\"></span>stess<span class=\"_ _1\"></span>a. <span class=\"_ _8\"></span>Tali <span class=\"_ _8\"></span>ricavi<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>endita <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>relativi <span class=\"_ _8\"></span>costi <span class=\"_ _11\"></span>saranno <span class=\"_ _8\"></span>pertanto<span class=\"_ _26a\"> </span> rilevati nel conto <span class=\"_ _1\"></span>economico.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _f7\"> </span>to <span class=\"_ _f7\"> </span>IAS <span class=\"_ _8e\"> </span>37 <span class=\"_ _f7\"> </span>Provisions, <span class=\"_ _f7\"> </span>Cont<span class=\"_ _1\"></span>ingent <span class=\"_ _f7\"> </span>Liabilities <span class=\"_ _f7\"> </span>and <span class=\"_ _8e\"> </span>Contingent <span class=\"_ _f7\"> </span>Assets<span class=\"_ _8\"></span><span class=\"ff2 ls5\">:<span class=\"_ _26a\"> </span></span></span></span><span class=\"ff2\"><span class=\"ffd fc1\"><span class=\"ff2 ls5\"> </span></span></span>l\u2019emendamento <span class=\"_ _12\"> </span>chiarisce <span class=\"_ _12\"> </span>che <span class=\"_ _12\"> </span>nella <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>tima <span class=\"_ _12\"> </span>sull\u2019eventuale <span class=\"_ _12\"> </span>onerosit\u00e0 <span class=\"_ _12\"> </span>di <span class=\"_ _12\"> </span>un <span class=\"_ _27\"> </span>contr<span class=\"_ _1\"></span>atto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>devo<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span> considerare <span class=\"_ _12\"> </span>tutti <span class=\"_ _12\"> </span>i <span class=\"_ _27\"> </span>costi <span class=\"_ _12\"> </span>direttamente <span class=\"_ _12\"> </span>imputab<span class=\"_ _1\"></span>ili <span class=\"_ _12\"> </span>al <span class=\"_ _27\"> </span>contratto. <span class=\"_ _12\"> </span>Di <span class=\"_ _12\"> </span>con<span class=\"_ _1\"></span>seguenz<span class=\"_ _1\"></span>a, <span class=\"_ _12\"> </span>la <span class=\"_ _27\"> </span>valutazi<span class=\"_ _1\"></span>one<span class=\"_ _26a\"> </span> sull\u2019eventuale <span class=\"_ _11\"></span>oneros<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>contratto <span class=\"_ _11\"></span>inc<span class=\"_ _1\"></span>lude <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>solo <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>cost<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>incrementali <span class=\"_ _11\"></span>(come <span class=\"_ _11\"></span>ad <span class=\"_ _11\"></span>ese<span class=\"_ _1\"></span>mpio, <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span> costo del materiale d<span class=\"_ _1\"></span>iretto impi<span class=\"_ _1\"></span>egato nella lavor<span class=\"_ _1\"></span>azione), ma<span class=\"_ _1\"></span> anche tutti i cost<span class=\"_ _1\"></span>i che l\u2019impresa <span class=\"_ _1\"></span>non pu\u00f2<span class=\"_ _26a\"> </span> evitare <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>q<span class=\"_ _1\"></span>uanto <span class=\"_ _1e\"> </span>ha <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>tipula<span class=\"_ _1\"></span>to <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>ntratto <span class=\"_ _1e\"> </span>(c<span class=\"_ _1\"></span>ome, <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>esempio, <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>quota  dell'ammortamento <span class=\"_ _1e\"> </span>dei<span class=\"_ _26a\"> </span> macchinari impiegat<span class=\"_ _1\"></span>i per l'adempiment<span class=\"_ _1\"></span>o del contratto).<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Annual Improvements 2018-2020<span class=\"ff5\">: le modifiche sono state <span class=\"_ _3\"></span>apportat<span class=\"_ _1\"></span>e all\u2018IFRS 1 <span class=\"ff7\">First-time Adoption<span class=\"_ _26a\"> </span></span></span></span></span><span class=\"ff2\"><span class=\"ffd fc1\"><span class=\"ff5\"><span class=\"ff7\"> </span></span></span></span>of <span class=\"_ _26\"> </span>International <span class=\"_ _26\"> </span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Report<span class=\"_ _1\"></span>ing <span class=\"_ _26\"> </span>Sta<span class=\"_ _1\"></span>ndards<span class=\"ff5\">, <span class=\"_ _27\"> </span>all\u2019IFRS <span class=\"_ _26\"> </span>9 <span class=\"_ _26\"> </span></span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Instrume<span class=\"_ _1\"></span>nts<span class=\"ff2\">, <span class=\"_ _27\"> </span>allo <span class=\"_ _26\"> </span>IAS <span class=\"_ _26\"> </span>41<span class=\"_ _1\"></span> </span>Agriculture<span class=\"ff2\"> e agl<span class=\"_ _1\"></span>i </span>Illustrative Examples<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"ff5\">dell\u2019IFRS <span class=\"_ _1\"></span>16 </span></span>Leas<span class=\"_ _1\"></span>es<span class=\"ff2\">.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>L\u2019adozione di tali emen<span class=\"_ _1\"></span>damenti no<span class=\"_ _1\"></span>n ha comportato eff<span class=\"_ _1\"></span>etti sul bilancio co<span class=\"_ _1\"></span>nsolidato d<span class=\"_ _1\"></span>el Gruppo. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Principi <span class=\"_ _21\"> </span>contabili, <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _21\"> </span>ed<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>interpretazion<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>ifrs <span class=\"_ _21\"> </span>omologati <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>all\u2019unio<span class=\"_ _1\"></span>ne <span class=\"_ _21\"> </span>europea, <span class=\"_ _21\"> </span>non <span class=\"_ _21\"> </span>anco<span class=\"_ _1\"></span>ra<span class=\"_ _26a\"> </span> obbligatoriamente applic<span class=\"_ _1\"></span>abili e non adot<span class=\"_ _1\"></span>tati in via anticipata<span class=\"_ _8\"></span> dal gruppo al 3<span class=\"_ _1\"></span>1 dicembre 202<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _11\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>18 <span class=\"_ _20\"></span>maggio <span class=\"_ _20\"></span>2017 <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>IASB <span class=\"_ _20\"></span>ha <span class=\"_ _20\"></span>pubblicato <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>principio <span class=\"_ _23\"></span><span class=\"ff4\">IFRS <span class=\"_ _20\"></span>17 <span class=\"_ _20\"></span><span class=\"ff6\">\u2013</span> <span class=\"_ _20\"></span>Insuranc<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>Co<span class=\"_ _1\"></span>ntracts</span> <span class=\"_ _20\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>\u00e8<span class=\"_ _1\"></span> </span>destinato a sostituire i<span class=\"_ _1\"></span>l principio IFRS<span class=\"_ _1\"></span> 4 <span class=\"ff5\">\u2013</span> Insura<span class=\"_ _1\"></span>nce Contracts<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span> L'obiettivo <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>nuovo<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uello <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>garant<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>un'en<span class=\"_ _8\"></span>tit\u00e0 <span class=\"_ _8\"></span>fornisca <span class=\"_ _11\"></span>informazioni <span class=\"_ _8\"></span>pertinenti <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>he<span class=\"_ _26a\"> </span> rappresentano <span class=\"_ _1\"></span>fede<span class=\"_ _1\"></span>lmente <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>diritti <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>gli <span class=\"_ _1\"></span>obbl<span class=\"_ _1\"></span>ighi <span class=\"_ _1\"></span>derivanti <span class=\"_ _1\"></span>dai <span class=\"_ _1\"></span>contra<span class=\"_ _1\"></span>tti <span class=\"_ _1\"></span>assicurativi<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span>messi. <span class=\"_ _1\"></span>Lo <span class=\"_ _1\"></span>IASB<span class=\"_ _1\"></span> h<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span> sviluppato <span class=\"_ _1e\"> </span>lo <span class=\"_ _21\"> </span>stan<span class=\"_ _1\"></span>dard <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>eliminare <span class=\"_ _1e\"> </span>incongruenze <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>debolezze <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _1e\"> </span>contabili <span class=\"_ _1e\"> </span>esistenti,<span class=\"_ _26a\"> </span> fornendo <span class=\"_ _8\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>quadro <span class=\"_ _8\"></span>unico <span class=\"_ _11\"></span>principle-based<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>tenere <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tutti <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>tipi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>contratti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>assicurazio<span class=\"_ _1\"></span>ne,<span class=\"_ _26a\"> </span> inclusi i contratti di rias<span class=\"_ _1\"></span>sicurazione che un ass<span class=\"_ _1\"></span>icuratore detiene<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> Il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _21\"> </span>principio <span class=\"_ _1e\"> </span>prevede <span class=\"_ _21\"> </span>inoltre <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ei <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>equisiti <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>pre<span class=\"_ _1\"></span>sentazione <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>informativ<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>per<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>migli<span class=\"_ _8\"></span>orare <span class=\"_ _21\"> </span>la<span class=\"_ _26a\"> </span> comparabilit\u00e0 tra le ent<span class=\"_ _1\"></span>it\u00e0 appartenen<span class=\"_ _1\"></span>ti a questo settore.<span class=\"_ _8\"></span> Il <span class=\"_ _11\"></span>nuov<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _20\"></span>misura <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>contratto <span class=\"_ _20\"></span>assicurativo <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"></span>base <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>General <span class=\"_ _20\"></span>Model <span class=\"_ _20\"></span>o <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>versione<span class=\"_ _1\"></span> semplificata di questo<span class=\"_ _1\"></span>, chiamato Pre<span class=\"_ _1\"></span>mium Allocation A<span class=\"_ _1\"></span>pproach (\u201cPAA\u201d).<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Le principali caratt<span class=\"_ _1\"></span>eristiche del G<span class=\"_ _1\"></span>eneral Model sono:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me e le ipotesi dei f<span class=\"_ _1\"></span>uturi flussi di cassa so<span class=\"_ _1\"></span>no sempre quelle c<span class=\"_ _1\"></span>orrenti;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">la m<span class=\"_ _1\"></span>isurazione riflette<span class=\"_ _1\"></span> il valore temporale <span class=\"_ _1\"></span>del denaro;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me prevedono un <span class=\"_ _1\"></span>utilizzo estensivo <span class=\"_ _1\"></span>di informazion<span class=\"_ _1\"></span>i osservabili sul <span class=\"_ _8\"></span>mercato;<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"fc1\"> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">es<span class=\"_ _1\"></span>iste una misurazione<span class=\"_ _1\"></span> corrente ed espl<span class=\"_ _1\"></span>icita del rischio;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>prof<span class=\"_ _1\"></span>itto <span class=\"_ _20\"></span>attes<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>differito <span class=\"_ _23\"> </span>e <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>ggregato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>gruppi <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>assicurativi <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"fc1\"> </span></span>rilevazione iniziale; e,<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>profitto <span class=\"_ _8\"></span>atteso <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>rilevato <span class=\"_ _8\"></span>nel <span class=\"_ _1\"></span>peri<span class=\"_ _1\"></span>odo <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>copertura <span class=\"_ _8\"></span>contrattuale <span class=\"_ _11\"></span>tenendo <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>nto <span class=\"_ _1\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>rettifiche<span class=\"_ _1\"></span> </span></span>derivanti <span class=\"_ _23\"> </span>da <span class=\"_ _23\"> </span>variaz<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _23\"></span>ipotesi <span class=\"_ _23\"> </span>rela<span class=\"_ _1\"></span>tive <span class=\"_ _23\"> </span>ai <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>lussi <span class=\"_ _23\"> </span>finanz<span class=\"_ _1\"></span>iari <span class=\"_ _23\"></span>relativi <span class=\"_ _21\"> </span>a <span class=\"_ _23\"></span>ciascun <span class=\"_ _23\"> </span>grup<span class=\"_ _1\"></span>po <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span> contratti.<span class=\"_ _26a\"> </span> L\u2019approccio <span class=\"_ _23\"> </span>PAA<span class=\"ff7\"> <span class=\"_ _21\"> </span><span class=\"ff2\">prevede <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>misurazione <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lla <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"> </span>per <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"> </span>resid<span class=\"_ _1\"></span>ua <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _23\"> </span>gruppo <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff2\"> </span></span>contratti <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>as<span class=\"_ _1\"></span>sicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>condizione <span class=\"_ _11\"></span>che, <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>momento <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>riconoscimento <span class=\"_ _8\"></span>inizi<span class=\"_ _1\"></span>ale, <span class=\"_ _8\"></span>l'ent<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _8\"></span>prev<span class=\"_ _1\"></span>eda<span class=\"_ _26a\"> </span> che tale pa<span class=\"_ _3\"></span>ssivit\u00e0 rapprese<span class=\"_ _1\"></span>nti ragionevolmente un\u2019appross<span class=\"_ _1\"></span>imazione del <span class=\"_ _3\"></span>Genera<span class=\"_ _1\"></span>l Model. I <span class=\"_ _3\"></span>contratt<span class=\"_ _1\"></span>i con<span class=\"_ _26a\"> </span> un <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>anno <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>meno <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>automaticamente <span class=\"_ _11\"></span>idone<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span><span class=\"ff5\">l\u2019approccio <span class=\"_ _11\"></span>PA<span class=\"_ _1\"></span>A. <span class=\"_ _11\"></span> <span class=\"_ _11\"></span>Le<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>semplificazioni <span class=\"_ _23\"> </span>deriva<span class=\"_ _1\"></span>nti <span class=\"_ _23\"> </span>dall\u2019applicaz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"> </span>del<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>metodo <span class=\"_ _23\"> </span>PA<span class=\"_ _1\"></span>A <span class=\"_ _23\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>applicano <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>lla <span class=\"_ _23\"> </span>valutazione<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle<span class=\"_ _26a\"> </span> passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i <span class=\"_ _11\"></span><span class=\"ff7\">claims</span> <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>ere, <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>isurati <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span><span class=\"ff7\">Gen<span class=\"_ _1\"></span>eral <span class=\"_ _8\"></span>Model<span class=\"_ _1\"></span></span>. <span class=\"_ _8\"></span>Tuttavia, <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>necessario<span class=\"_ _26a\"> </span> attualizzare <span class=\"_ _8\"></span>quei <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>ci <span class=\"_ _1\"></span>si<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ende <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>saldo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>agare <span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>incassare <span class=\"_ _8\"></span>avverr\u00e0 <span class=\"_ _8\"></span>entro <span class=\"_ _8\"></span>un<span class=\"_ _26a\"> </span> anno dalla data in cu<span class=\"_ _1\"></span>i \u00e8 avvenuto il <span class=\"_ _1\"></span><span class=\"ff7\">claim</span>.<span class=\"_ _1\"></span> L'entit\u00e0 <span class=\"_ _23\"> </span>deve <span class=\"_ _23\"> </span>ap<span class=\"_ _1\"></span>plicare <span class=\"_ _23\"> </span>il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _23\"> </span>principio<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>ai <span class=\"_ _23\"> </span>contratti <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>assicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"></span>emessi, <span class=\"_ _21\"> </span>inclusi <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>contratt<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span> riassicurazione emessi, ai contratti di <span class=\"_ _1\"></span>riassicurazione detenuti<span class=\"_ _1\"></span> e anche ai contratti di investimento con<span class=\"_ _26a\"> </span> una <span class=\"ff7 ls1\">discrectonary<span class=\"_ _1\"></span> partecipation feature<span class=\"_ _1\"></span><span class=\"ff2\"> (DPF).<span class=\"_ _26a\"> </span></span></span>Il <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>applica <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>partire <span class=\"_ _11\"></span>dal <span class=\"_ _8\"></span>1\u00b0 <span class=\"_ _8\"></span>ge<span class=\"_ _1\"></span>nnaio <span class=\"_ _8\"></span>202<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span> <span class=\"_ _8\"></span><span class=\"ff5\">m<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>consentita <span class=\"_ _8\"></span>un\u2019a<span class=\"_ _1\"></span>pplicazione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>nticipata<span class=\"_ _1\"></span></span>, <span class=\"_ _8\"></span>sol<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>per <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>entit\u00e0 <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>pplicano <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>9 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">F<span class=\"_ _1\"></span>inancial <span class=\"_ _11\"></span>Instruments</span> <span class=\"_ _11\"></span></span>e <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>15 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">Revenue <span class=\"_ _11\"></span>from <span class=\"_ _11\"></span>Contracts<span class=\"_ _26a\"> </span></span></span>with Customers<span class=\"_ _1\"></span><span class=\"ff2 ls5\">. <span class=\"ls1\"> </span></span>Gli  amministratori <span class=\"_ _26\"> </span>non  si  attendono <span class=\"_ _90\"> </span>un <span class=\"_ _26\"> </span>effetto  significativo <span class=\"_ _90\"> </span>n<span class=\"_ _1\"></span>el  bilancio <span class=\"_ _26\"> </span>consolidato  del  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di ques<span class=\"_ _1\"></span>to principio.<span class=\"_ _1\"></span><span class=\"ff4\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _2\"></span>data <span class=\"_ _2\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>dicembre 20<span class=\"_ _3\"></span>21, <span class=\"_ _3\"></span>lo <span class=\"_ _2\"></span>IASB<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>ha <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ubblicato <span class=\"_ _2\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>emendam<span class=\"_ _1\"></span>ento <span class=\"_ _2\"></span>den<span class=\"_ _1\"></span>ominato <span class=\"ff11\">\u201cAmendments <span class=\"_ _2\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>IFRS<span class=\"_ _26a\"> </span></span></span>17 <span class=\"_ _1\"></span>Insurance <span class=\"_ _1\"></span>cont<span class=\"_ _1\"></span>racts: <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>nitial <span class=\"_ _1\"></span>Application <span class=\"_ _1\"></span>of<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>IFRS <span class=\"_ _1\"></span>17 <span class=\"_ _8\"></span>and <span class=\"_ _1\"></span>IFRS <span class=\"_ _8\"></span>9 <span class=\"_ _8\"></span><span class=\"ff11\">\u2013</span> <span class=\"_ _1\"></span><span class=\"ff11\">Comp<span class=\"_ _1\"></span>arative <span class=\"_ _1\"></span>Inf<span class=\"_ _1\"></span>ormation\u201d<span class=\"_ _1\"></span><span class=\"ff2 ls5\">.<span class=\"_ _26a\"> </span></span></span>L'emendamento <span class=\"_ _26\"> </span>\u00e8 <span class=\"_ _26\"> </span>un'opzi<span class=\"_ _1\"></span>one <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>transizione <span class=\"_ _26\"> </span>relativa<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>alle <span class=\"_ _26\"> </span>informazioni <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>om<span class=\"_ _1\"></span>parative <span class=\"_ _26\"> </span>sulle <span class=\"_ _26\"> </span>attivit\u00e0<span class=\"_ _1\"></span> finanziarie <span class=\"_ _3\"></span>presentate alla <span class=\"_ _2\"></span>data di<span class=\"_ _3\"></span> applicazione <span class=\"_ _3\"></span>iniziale <span class=\"_ _3\"></span>dell'IFRS 17. <span class=\"_ _2\"></span>L'emenda<span class=\"_ _1\"></span>mento <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>volto <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>evitare<span class=\"_ _26a\"> </span>disallineamenti co<span class=\"_ _1\"></span>ntabili t<span class=\"_ _1\"></span>emporanei <span class=\"_ _1\"></span>tra attivit<span class=\"_ _1\"></span>\u00e0 finanzi<span class=\"_ _1\"></span>arie e <span class=\"_ _1\"></span>passivit\u00e0 d<span class=\"_ _1\"></span>i contratti <span class=\"_ _1\"></span>assicurativi, <span class=\"_ _1\"></span>e quindi<span class=\"_ _26a\"> </span>a <span class=\"_ _2\"></span>migliorare <span class=\"_ _2\"></span>l'uti<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>infor<span class=\"_ _1\"></span>mazioni <span class=\"_ _2\"></span>comparative <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>lettori <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>ilancio. <span class=\"_ _2\"></span>Le <span class=\"_ _2\"></span>mod<span class=\"_ _1\"></span>ifiche <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>applicheran<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>dal 1\u00b0 gennaio 2023<span class=\"_ _1\"></span>, unitamente all\u2019appl<span class=\"_ _1\"></span>icazione del princ<span class=\"_ _1\"></span>ipio IFRS 17. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  un  effett<span class=\"_ _1\"></span>o  significativo <span class=\"_ _26\"> </span>nel  bilancio  c<span class=\"_ _1\"></span>onsolidato  d<span class=\"_ _8\"></span>el  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In  data  12  febbraio  2021  lo  IASB  ha  pubblicato  due  emendamenti  denomi<span class=\"_ _1\"></span>nati  \u201c<span class=\"_ _1\"></span><span class=\"ffd\">Disc<span class=\"_ _1\"></span>losure  of<span class=\"_ _26a\"> </span></span></span></span>Accounting <span class=\"_ _20\"></span>Policies<span class=\"ff11\">\u2014<span class=\"_ _1\"></span></span>Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IAS <span class=\"_ _20\"></span>1 <span class=\"_ _11\"></span>and <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>Practice <span class=\"_ _20\"></span>Statement <span class=\"_ _20\"></span>2<span class=\"_ _1\"></span><span class=\"fff\">\u201d <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>\u201c</span>Defin<span class=\"_ _1\"></span>ition <span class=\"_ _11\"></span>of<span class=\"_ _26a\"> </span>Accounting Estimates<span class=\"_ _1\"></span><span class=\"ff11\">\u2014</span>A<span class=\"_ _1\"></span>mendments to IA<span class=\"_ _1\"></span>S 8<span class=\"fff\">\u201d. <span class=\"ff7\">L<span class=\"_ _1\"></span><span class=\"ff2\">e modifiche son<span class=\"_ _1\"></span>o volte a migl<span class=\"_ _1\"></span>iorare la <span class=\"_ _1\"></span></span>disclosure<span class=\"ff2\"> </span></span></span>sulle <span class=\"_ _11\"></span><span class=\"ff7\">account<span class=\"_ _1\"></span>ing <span class=\"_ _11\"></span>policy<span class=\"_ _1\"></span></span> <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>modo <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>for<span class=\"_ _1\"></span>nire <span class=\"_ _11\"></span>informaz<span class=\"_ _1\"></span>ioni <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _11\"></span>utili <span class=\"_ _11\"></span>agl<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>investitori <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>agli <span class=\"_ _20\"></span>altri <span class=\"_ _11\"></span>utilizzatori<span class=\"_ _26a\"> </span>primari <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>nch\u00e9 <span class=\"_ _1\"></span>ad <span class=\"_ _1\"></span>aiutare <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>distinguere <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>cam<span class=\"_ _1\"></span>biamenti <span class=\"_ _1\"></span>nelle<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>time c<span class=\"_ _1\"></span>ontabili <span class=\"_ _1\"></span>dai<span class=\"_ _26a\"> </span>cambiamenti <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span><span class=\"ff7\">accounting <span class=\"_ _3\"></span>policy.<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _2\"></span>Le mo<span class=\"_ _3\"></span>difiche <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>applic<span class=\"_ _1\"></span>heranno <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>1\u00b0 <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>ennaio <span class=\"_ _3\"></span>2023, <span class=\"_ _2\"></span>ma <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita<span class=\"_ _26a\"> </span></span></span>un\u2019applicazione <span class=\"_ _21\"> </span>anticipata. <span class=\"_ _21\"> </span>Gli <span class=\"_ _23\"> </span>amm<span class=\"_ _1\"></span>inistratori <span class=\"_ _23\"> </span>non <span class=\"_ _21\"> </span>si <span class=\"_ _21\"> </span>attendono <span class=\"_ _23\"> </span>un <span class=\"_ _21\"> </span>effetto <span class=\"_ _21\"> </span>significativo <span class=\"_ _21\"> </span>nel <span class=\"_ _23\"> </span>b<span class=\"_ _1\"></span>ilancio<span class=\"_ _26a\"> </span>consolidato del Gruppo <span class=\"_ _1\"></span>dall\u2019adozione d<span class=\"_ _1\"></span>i tali emendame<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data <span class=\"_ _3\"></span>7 maggio 2021 lo <span class=\"_ _3\"></span>IASB ha pubblicato un <span class=\"_ _3\"></span>emendamen<span class=\"_ _1\"></span>to d<span class=\"ff5\">enominato \u201c<span class=\"ffd\">Amen<span class=\"_ _1\"></span>dments to IAS <span class=\"_ _3\"></span>12<span class=\"_ _26a\"> </span></span></span></span>Income <span class=\"_ _2\"></span>Taxes:<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>Deferred <span class=\"_ _3\"></span>Tax <span class=\"_ _2\"></span>related<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>to <span class=\"_ _2\"></span>As<span class=\"_ _1\"></span>sets <span class=\"_ _2\"></span>and <span class=\"_ _2\"></span>L<span class=\"_ _1\"></span>iabilities <span class=\"_ _3\"></span>arising <span class=\"_ _2\"></span>from <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>Single <span class=\"_ _2\"></span>Tran<span class=\"_ _1\"></span>saction<span class=\"_ _1\"></span><span class=\"ff5\">\u201d<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _8\"></span>docum<span class=\"_ _1\"></span>ento <span class=\"_ _8\"></span>chi<span class=\"_ _1\"></span>arisce <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>me <span class=\"_ _11\"></span>devono <span class=\"_ _8\"></span>essere<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>contabi<span class=\"_ _1\"></span>lizzate <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>imposte <span class=\"_ _11\"></span>differite <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lcune <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>perazioni<span class=\"_ _26a\"> </span>che  poss<span class=\"_ _1\"></span>ono  generare<span class=\"_ _1\"></span>  att<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _1\"></span>  e <span class=\"_ _26\"> </span>passivit\u00e0  d<span class=\"_ _1\"></span>i  pari <span class=\"_ _26\"> </span>ammontare,  q<span class=\"_ _1\"></span>uali  i<span class=\"_ _1\"></span>l  leas<span class=\"_ _1\"></span>ing  e <span class=\"_ _90\"> </span>gl<span class=\"_ _1\"></span>i  obbl<span class=\"_ _1\"></span>ighi  di<span class=\"_ _26a\"> </span>smantellamento. Le modifiche <span class=\"_ _3\"></span>si applicheranno dal 1\u00b0 gennaio <span class=\"_ _3\"></span>2023, ma \u00e8 <span class=\"_ _3\"></span>consenti<span class=\"_ _1\"></span>ta <span class=\"_ _3\"></span>un\u2019app<span class=\"_ _1\"></span>licazione<span class=\"_ _26a\"> </span>anticipata. <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>li <span class=\"_ _23\"> </span>am<span class=\"_ _1\"></span>ministratori <span class=\"_ _21\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>attendon<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>u<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>effetto <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ignificativo<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>nel <span class=\"_ _21\"> </span>bilancio <span class=\"_ _21\"> </span>con<span class=\"_ _8\"></span>solidato <span class=\"_ _21\"> </span>del<span class=\"_ _26a\"> </span>Gruppo dall\u2019adozione d<span class=\"_ _1\"></span>i tale emendame<span class=\"_ _1\"></span>nto.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS non ancora omolog<span class=\"_ _1\"></span>ati dall\u2019Union<span class=\"_ _1\"></span>e Europea<span class=\"_ _8\"></span><span class=\"ff4\"> </span>Alla data di <span class=\"_ _3\"></span>riferime<span class=\"_ _1\"></span>nto del presente documento, gli organi competenti dell\u2019Unione<span class=\"_ _1\"></span> Europea non <span class=\"ff2\">hanno ancor<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>concluso <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>process<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>omologaz<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>necessari<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>l\u2019adozi<span class=\"_ _1\"></span>one <span class=\"_ _1e\"> </span>degl<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>dei <span class=\"_ _1e\"> </span>principi <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>otto<span class=\"_ _26a\"> </span>descritti.<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In dat<span class=\"_ _1\"></span>a 23 <span class=\"_ _1\"></span>gennai<span class=\"_ _1\"></span>o 20<span class=\"_ _1\"></span>20 l<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>IASB h<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>pubblicato <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>emendament<span class=\"_ _1\"></span>o de<span class=\"_ _1\"></span>nominato <span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ffd\">Amendments <span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>IAS<span class=\"_ _26a\"> </span></span></span></span>1 Presentation <span class=\"_ _1\"></span>of Financi<span class=\"_ _1\"></span>al Statement<span class=\"_ _1\"></span>s:<span class=\"_ _1\"></span> Classificat<span class=\"_ _1\"></span>ion of <span class=\"_ _1\"></span>Liabilities as Cur<span class=\"_ _1\"></span>rent <span class=\"_ _1\"></span>or Non<span class=\"_ _1\"></span>-current<span class=\"ff5 lsf\">\u201d<span class=\"_ _26a\"> </span></span>ed <span class=\"_ _20\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>data <span class=\"_ _23\"> </span>31 <span class=\"_ _20\"> </span>o<span class=\"_ _1\"></span>ttobre <span class=\"_ _23\"> </span>2022 <span class=\"_ _23\"> </span>ha <span class=\"_ _23\"> </span>pubblicato <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>emendamento <span class=\"_ _23\"> </span>denominat<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amendments <span class=\"_ _23\"> </span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _26a\"> </span></span>Presentation <span class=\"_ _21\"> </span>of <span class=\"_ _21\"> </span>Financial<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>Statements: <span class=\"_ _21\"> </span>Non<span class=\"_ _1\"></span>-<span class=\"_ _1\"></span><span class=\"ff11\">Current <span class=\"_ _21\"> </span>Liabilitie<span class=\"_ _1\"></span>s <span class=\"_ _21\"> </span>with <span class=\"_ _21\"> </span>Covena<span class=\"_ _1\"></span>nts\u201d<span class=\"_ _1\"></span><span class=\"ff2\">. <span class=\"_ _21\"> </span>I <span class=\"_ _21\"> </span>documenti<span class=\"_ _26a\"> </span></span></span>hanno <span class=\"_ _8\"></span>l\u2019obiettivo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>chiarire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>come<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>lassificare <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>debiti <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>altre <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>breve<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>lung<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine. <span class=\"_ _8\"></span>Le<span class=\"_ _26a\"> </span>modifiche <span class=\"_ _8\"></span>entrano <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>vigore <span class=\"_ _8\"></span>dal <span class=\"_ _1\"></span>1\u00b0 <span class=\"_ _8\"></span>gennaio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>024; <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>comunque<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conse<span class=\"_ _1\"></span>ntita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019applicazione <span class=\"_ _8\"></span>anticipata.<span class=\"_ _26a\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  u<span class=\"_ _1\"></span>n  effetto <span class=\"_ _26\"> </span>significativo  nel <span class=\"_ _26\"> </span>bilancio  consolidato <span class=\"_ _90\"> </span>d<span class=\"_ _1\"></span>el  Gruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In <span class=\"_ _11\"></span>data <span class=\"_ _11\"></span>22 <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ettembre <span class=\"_ _20\"></span>2022 <span class=\"_ _11\"></span>lo <span class=\"_ _11\"></span>IA<span class=\"_ _1\"></span>SB <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>pu<span class=\"_ _1\"></span>bblicato <span class=\"_ _11\"></span>un <span class=\"_ _20\"></span>emendamento <span class=\"_ _20\"></span>denominato <span class=\"_ _20\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amend<span class=\"_ _1\"></span>ments <span class=\"_ _11\"></span>to<span class=\"_ _26a\"> </span></span></span></span>IFRS <span class=\"_ _11\"></span>16 <span class=\"_ _20\"></span>Leases: <span class=\"_ _20\"> </span>Lease <span class=\"_ _20\"></span>L<span class=\"_ _1\"></span>iability <span class=\"_ _11\"></span>in <span class=\"_ _20\"> </span>a <span class=\"_ _20\"> </span>Sale <span class=\"_ _20\"> </span>and <span class=\"_ _20\"></span>Leaseback\u201d<span class=\"_ _1\"></span>. <span class=\"_ _20\"> </span><span class=\"ff2\">Il <span class=\"_ _20\"></span>documento <span class=\"_ _20\"></span>ric<span class=\"_ _1\"></span>hiede <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>enditore-<span class=\"_ _26a\"> </span></span>lessee d<span class=\"_ _1\"></span>i v<span class=\"_ _1\"></span>alutare l<span class=\"_ _1\"></span>a pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _1\"></span>per i<span class=\"_ _1\"></span>l lease <span class=\"_ _1\"></span>riven<span class=\"_ _1\"></span>iente d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>transazione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>sale <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>leaseback <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>modo<span class=\"_ _26a\"> </span>da non <span class=\"_ _1\"></span>rilev<span class=\"_ _1\"></span>are un <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ovento <span class=\"_ _1\"></span>o una <span class=\"_ _1\"></span>perdit<span class=\"_ _1\"></span>a che <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferis<span class=\"_ _1\"></span>cano <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>diritto d<span class=\"_ _1\"></span>\u2019uso trat<span class=\"_ _1\"></span>tenuto. <span class=\"_ _11\"></span><span class=\"ff2\">Le modif<span class=\"_ _1\"></span>iche si<span class=\"_ _1\"></span> </span>applicheranno dal <span class=\"_ _2\"></span>1\u00b0 <span class=\"_ _3\"></span>gen<span class=\"ff5\">na<span class=\"_ _1\"></span>io <span class=\"_ _2\"></span>20<span class=\"_ _1\"></span>24, <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita <span class=\"_ _3\"></span>un\u2019appl<span class=\"_ _1\"></span>icazione <span class=\"_ _3\"></span>anticipata. <span class=\"_ _3\"></span>Gli amministratori <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span></span>si <span class=\"_ _27\"> </span>attend<span class=\"_ _1\"></span>ono <span class=\"_ _27\"> </span>un<span class=\"_ _1\"></span> <span class=\"_ _27\"> </span>eff<span class=\"_ _1\"></span>etto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>ignificativo <span class=\"_ _12\"> </span>nel <span class=\"_ _27\"> </span>bilanci<span class=\"_ _1\"></span>o <span class=\"_ _27\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _12\"> </span>del <span class=\"_ _27\"> </span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _12\"> </span>dall\u2019adozione <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>tale<span class=\"_ _26a\"> </span>emendamento.<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 30 g<span class=\"_ _1\"></span>ennaio 2014 <span class=\"_ _1\"></span>lo IASB ha pu<span class=\"_ _1\"></span>bblicato il pri<span class=\"_ _1\"></span>ncipio <span class=\"_ _1\"></span><span class=\"ffd\">IFR<span class=\"_ _1\"></span>S 14 <span class=\"ff11\">\u2013</span> R<span class=\"_ _1\"></span>egulatory <span class=\"_ _1\"></span>Deferral Accounts<span class=\"_ _1\"></span></span> </span>che consente solo a coloro che adottano gli IFRS per l<span class=\"_ _1\"></span>a prima volta di continuare a rilevare gli importi<span class=\"_ _1\"></span> relativi alle <span class=\"_ _3\"></span>attivit\u00e0 soggette a tariffe regolamentate (\u201c<span class=\"ff7\">Rate Regulation<span class=\"ff2\"> </span>Activities<span class=\"_ _1\"></span></span>\u201d) secondo <span class=\"_ _3\"></span>i precedenti<span class=\"_ _26a\"> </span>principi <span class=\"_ _1e\"> </span>contab<span class=\"_ _1\"></span>ili <span class=\"_ _1e\"> </span>adottati. <span class=\"_ _1e\"> </span>Non <span class=\"_ _1f\"> </span>essendo <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _21\"> </span>u<span class=\"_ _1\"></span>n  <span class=\"ff7\">first-time <span class=\"_ _21\"> </span>ado<span class=\"_ _1\"></span>pter</span>, <span class=\"_ _1e\"> </span>tale <span class=\"_ _1e\"> </span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>risulta<span class=\"_ _1\"></span> applicabile.<span class=\"_ _26a\"> </span>3. Gestione del capitale<span class=\"_ _1\"></span> Nella gestione de<span class=\"_ _1\"></span>l capitale, gli obiettivi del<span class=\"_ _1\"></span> Gruppo sono:<span class=\"_ _8\"></span> a)<span class=\"ls1\">  <span class=\"ff5\">la salvaguardia della capacit\u00e0 di conti<span class=\"_ _1\"></span>nuare ad operare<span class=\"_ _1\"></span> come un\u2019en<span class=\"_ _1\"></span></span>t<span class=\"_ _1\"></span>it\u00e0 in funzionamento;<span class=\"_ _1\"></span> </span>b)<span class=\"ls1\">  fornire un ritorno adeguato agli Az<span class=\"_ _1\"></span>ionisti.<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _2\"></span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _3\"></span>gestisce <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>struttur<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>del capitale <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>prop<span class=\"_ _1\"></span>orzione <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>rischio. <span class=\"_ _3\"></span>Al <span class=\"_ _3\"></span>fine <span class=\"_ _3\"></span>di ma<span class=\"_ _3\"></span>nte<span class=\"_ _1\"></span>nere <span class=\"_ _3\"></span>o <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ettificare l<span class=\"_ _3\"></span>a <span class=\"_ _3\"></span>struttura<span class=\"_ _1\"></span> del <span class=\"_ _2\"></span>capitale, <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>Gruppo <span class=\"_ _2\"></span>pu\u00f2<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>v<span class=\"_ _1\"></span>ariare <span class=\"_ _2\"></span>l\u2019import<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>dei <span class=\"_ _2\"></span>dividendi<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>pa<span class=\"_ _1\"></span>gati <span class=\"_ _2\"></span>agli <span class=\"_ _2\"></span>Azionisti,<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>ac<span class=\"_ _1\"></span>quistare <span class=\"_ _2\"></span>az<span class=\"_ _1\"></span>ioni <span class=\"_ _2\"></span>proprie, <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>ritorno<span class=\"_ _26a\"> </span>sul capitale ag<span class=\"ff5\">l<span class=\"_ _1\"></span>i Azionisti, l\u2019emissio<span class=\"_ _1\"></span>ne di nuove azioni,<span class=\"_ _1\"></span> o la vendita de<span class=\"_ _1\"></span>lle attivit\u00e0 per ridurre l\u2019inde<span class=\"_ _1\"></span>bitamento. <span class=\"_ _8\"></span></span> Il <span class=\"_ _20\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"> </span>corso <span class=\"_ _23\"> </span>degli <span class=\"_ _23\"> </span>ultimi <span class=\"_ _23\"> </span>anni, <span class=\"_ _23\"> </span>ad <span class=\"_ _23\"> </span>eccezion<span class=\"_ _1\"></span>e <span class=\"_ _23\"> </span>dell\u2019esercizio <span class=\"_ _23\"> </span>2020 <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"> </span>quale <span class=\"_ _23\"> </span>non <span class=\"_ _23\"> </span>sono <span class=\"_ _23\"> </span>stati <span class=\"_ _23\"> </span>distribuiti<span class=\"_ _26a\"> </span>dividendi per <span class=\"_ _3\"></span>effetto della <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>andemia Covid <span class=\"_ _3\"></span>19, <span class=\"ff5\">ha adottato <span class=\"_ _3\"></span>una politica <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i \u201c<span class=\"ff7\">dividend pay <span class=\"_ _3\"></span>out<span class=\"ff5\">\u201d per <span class=\"_ _3\"></span>un <span class=\"_ _3\"></span>ammo<span class=\"_ _1\"></span>ntare<span class=\"_ _26a\"> </span></span></span></span>pari a circa il 40% del<span class=\"_ _1\"></span>l\u2019Utile netto di pert<span class=\"_ _1\"></span>inenza del Gruppo del<span class=\"_ _1\"></span> bilancio consolidat<span class=\"_ _1\"></span>o. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Il <span class=\"_ _8\"></span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _11\"></span>effettua <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>monitoraggio <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>capitale <span class=\"_ _11\"></span>sulla <span class=\"_ _11\"></span>base <span class=\"_ _11\"></span>del <span class=\"_ _8\"></span>ra<span class=\"_ _1\"></span>pporto <span class=\"_ _11\"></span>tra <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>posizione <span class=\"_ _11\"></span>finanziaria <span class=\"_ _23\"> </span>netta <span class=\"_ _11\"></span>ed <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>patrimonio netto e tr<span class=\"_ _1\"></span>a la posizione finanziaria<span class=\"_ _1\"></span> netta e l\u2019<span class=\"_ _1\"></span>Ebitda.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>La strategia del Grup<span class=\"_ _1\"></span>po \u00e8 di mantenere <span class=\"_ _1\"></span>il rapporto Posi<span class=\"_ _1\"></span>zione Finanziaria Netta (\u201c<span class=\"_ _1\"></span>Pfn\u201d)/Patri<span class=\"_ _1\"></span>monio Netto ad un<span class=\"_ _1\"></span> valore <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>superiore<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>1 <span class=\"_ _3\"></span>ed <span class=\"_ _2\"></span>un <span class=\"_ _2\"></span>valore, <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>el <span class=\"_ _2\"></span>lungo <span class=\"_ _2\"></span>termi<span class=\"_ _1\"></span>ne, <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>su<span class=\"_ _1\"></span>peri<span class=\"_ _1\"></span>ore <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>3 <span class=\"_ _3\"></span>per <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>rapporto <span class=\"_ _3\"></span>Posizione <span class=\"_ _2\"></span>Finanziar<span class=\"_ _1\"></span>ia<span class=\"_ _26a\"> </span>Netta/Ebitda (considerando gli <span class=\"_ _3\"></span>indicatori al ne<span class=\"_ _3\"></span>tto degli <span class=\"_ _3\"></span>effetti dell\u2019applicazione dell\u2019IFRS 16), <span class=\"_ _3\"></span>al fine <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i garantire<span class=\"_ _26a\"> </span>l\u2019accesso <span class=\"_ _8\"></span>ai <span class=\"_ _8\"></span>f<span class=\"_ _1\"></span>inanziamenti <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>limitato <span class=\"_ _11\"></span>mantenendo <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>elevato <span class=\"_ _8\"></span>merito <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>credito. <span class=\"_ _8\"></span>Qu<span class=\"_ _8\"></span><span class=\"ff2\">esto <span class=\"_ _11\"></span>obiettivo <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span>indebitamento <span class=\"_ _1\"></span>potre<span class=\"_ _1\"></span>bbe <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>sere <span class=\"_ _1\"></span>rivisto <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>caso <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>variazione <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>situazio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>mac<span class=\"_ _1\"></span>roeconomica <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>erogato <span class=\"_ _8\"></span>in<span class=\"_ _26a\"> </span>ipotesi <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>operazioni <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Merger <span class=\"_ _21\"> </span>&amp; <span class=\"_ _23\"> </span>Acqu<span class=\"_ _1\"></span>isition</span>\u201d. <span class=\"_ _23\"> </span>C<span class=\"_ _1\"></span>onsidera<span class=\"_ _1\"></span>ndo <span class=\"_ _23\"> </span>la <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>tagionalit\u00e0 <span class=\"_ _21\"> </span>del <span class=\"_ _21\"> </span>business, <span class=\"_ _21\"> </span>questo <span class=\"_ _23\"> </span>rat<span class=\"_ _1\"></span>io <span class=\"_ _23\"> </span>\u00e8<span class=\"_ _26a\"> </span>soggetto a variazioni<span class=\"_ _1\"></span> du<span class=\"ff5\">ran<span class=\"_ _1\"></span>te l\u2019anno.</span> I <span class=\"_ _9\"></span>r<span class=\"_ _1\"></span>apporti <span class=\"_ _2\"></span>\u201c<span class=\"ff6\">Pfn\u201d/\u201cPatr<span class=\"_ _1\"></span>imonio <span class=\"_ _2\"></span>Netto<span class=\"_ _1\"></span><span class=\"ff5\">\u201d <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>\u201c<span class=\"ff6\">Pfn\u201d/\u201cEbitd<span class=\"_ _1\"></span>a <span class=\"_ _9\"></span>p<span class=\"_ _1\"></span>rima <span class=\"_ _2\"></span>degli <span class=\"_ _2\"></span>one<span class=\"_ _1\"></span>ri/proventi <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>ordinari<span class=\"_ _8\"></span><span class=\"ff5\">\u201d <span class=\"_ _9\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _26a\"> </span></span></span></span></span>2022 e al 31 dicem<span class=\"_ _1\"></span>bre 2021 sono i seg<span class=\"_ _1\"></span>uenti:<span class=\"_ _1\"></span> (1)<span class=\"ls1\"> <span class=\"_ _149\"> </span><span class=\"ff5\">Per mag<span class=\"_ _1\"></span>giori dettagli si rim<span class=\"_ _1\"></span>anda al para<span class=\"_ _1\"></span>grafo \u201cdefinizi<span class=\"_ _1\"></span>oni degli in<span class=\"_ _1\"></span>dicatori alterna<span class=\"_ _1\"></span>tivi di perform<span class=\"_ _1\"></span>ance\u201d nella Rel<span class=\"_ _1\"></span>azione sulla Ge<span class=\"_ _1\"></span>stione.<span class=\"_ _1\"></span></span> </span>(2)<span class=\"ls1\"> <span class=\"_ _149\"> </span><span class=\"ff5\">I dati \u201cSEN<span class=\"_ _1\"></span>ZA IFRS16\u201d son<span class=\"_ _1\"></span>o al netto dell\u2019applic<span class=\"_ _1\"></span>azione del pri<span class=\"_ _1\"></span>ncipio IFRS 16 <span class=\"_ _1\"></span>e del relativo impa<span class=\"_ _1\"></span>tto sulle grandez<span class=\"_ _1\"></span>ze economico<span class=\"_ _1\"></span></span>-<span class=\"_ _1\"></span>finanziarie.<span class=\"_ _1\"></span> </span>\u20ac/0<span class=\"_ _3\"></span>00<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _26a\"> </span>SE<span class=\"_ _3\"></span>NZ<span class=\"_ _9\"></span>A<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>FR<span class=\"_ _3\"></span>S1<span class=\"_ _3\"></span>6 <span class=\"fs23\">(2<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _2\"></span> SE<span class=\"_ _3\"></span>NZ<span class=\"_ _9\"></span>A<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>FR<span class=\"_ _3\"></span>S1<span class=\"_ _3\"></span>6 <span class=\"fs23\">(2<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>Po<span class=\"_ _2\"></span>sizio<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span> fi<span class=\"_ _1\"></span>na<span class=\"_ _2\"></span>nzia<span class=\"_ _3\"></span>ria ne<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a p<span class=\"_ _3\"></span>as<span class=\"_ _2\"></span>siv<span class=\"_ _2\"></span>a (Pfn) (no<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a 9<span class=\"_ _3\"></span>) <span class=\"_ _180\"> </span>17<span class=\"_ _2\"></span>7.30<span class=\"_ _3\"></span>5<span class=\"_ _d9\"> </span>139<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>26<span class=\"_ _2\"></span>6<span class=\"_ _128\"> </span>14<span class=\"_ _3\"></span>4.2<span class=\"_ _3\"></span>69<span class=\"_ _d4\"> </span>10<span class=\"_ _3\"></span>5.2<span class=\"_ _3\"></span>95<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _2\"></span>e pa<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>on<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>o n<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>(PN<span class=\"_ _2\"></span>)<span class=\"_ _181\"> </span>27<span class=\"_ _2\"></span>6.98<span class=\"_ _3\"></span>7<span class=\"_ _d9\"> </span>278<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>41<span class=\"_ _2\"></span>6<span class=\"_ _128\"> </span>25<span class=\"_ _3\"></span>5.9<span class=\"_ _3\"></span>33<span class=\"_ _d4\"> </span>25<span class=\"_ _3\"></span>7.1<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Eb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span> prim<span class=\"_ _2\"></span>a de<span class=\"_ _3\"></span>gl<span class=\"_ _2\"></span>i <span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>eri/<span class=\"_ _1\"></span>pro<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>en<span class=\"_ _2\"></span>ti no<span class=\"_ _3\"></span>n o<span class=\"_ _3\"></span>rdina<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span><span class=\"fs23\">(1<span class=\"_ _3\"></span>)<span class=\"_ _182\"> </span><span class=\"fs22\">76<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>64<span class=\"_ _2\"></span>4<span class=\"_ _d0\"> </span>69.2<span class=\"_ _3\"></span>13<span class=\"_ _62\"> </span>77<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>43<span class=\"_ _3\"></span>6<span class=\"_ _183\"> </span>70<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>76<span class=\"_ _2\"></span>8<span class=\"_ _26a\"> </span></span></span>Ra<span class=\"_ _3\"></span>pp<span class=\"_ _2\"></span>ort<span class=\"_ _1\"></span>o Pf<span class=\"_ _2\"></span>n/PN<span class=\"_ _26a\"> </span>0,6<span class=\"_ _3\"></span>4<span class=\"_ _131\"> </span>0<span class=\"_ _3\"></span>,50<span class=\"_ _131\"> </span>0<span class=\"_ _3\"></span>,56<span class=\"_ _16e\"> </span>0,41<span class=\"_ _26a\"> </span>Ra<span class=\"_ _3\"></span>pp<span class=\"_ _2\"></span>ort<span class=\"_ _1\"></span>o Pf<span class=\"_ _2\"></span>n/Eb<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>tda<span class=\"_ _3\"></span> prim<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span> deg<span class=\"_ _2\"></span>li<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>eri<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>prov<span class=\"_ _3\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> non<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ordi<span class=\"_ _2\"></span>na<span class=\"_ _3\"></span>ri<span class=\"_ _26a\"> </span>2,3<span class=\"_ _3\"></span>1<span class=\"_ _131\"> </span>2<span class=\"_ _3\"></span>,01<span class=\"_ _131\"> </span>1<span class=\"_ _3\"></span>,86<span class=\"_ _16e\"> </span>1,49<span class=\"_ _26a\"> </span>4. Gestione del rischio fin<span class=\"_ _1\"></span>anziario<span class=\"_ _1\"></span> 4.1 Fattori di rischio di tip<span class=\"_ _1\"></span>o finanziario <span class=\"_ _1\"></span> L\u2019attivit\u00e0 del Gruppo \u00e8 esp<span class=\"_ _1\"></span>osta ad una var<span class=\"_ _1\"></span>iet\u00e0 di rischi finanz<span class=\"_ _1\"></span>iari connessi alla s<span class=\"_ _1\"></span>ua operativit\u00e0: <span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span>rischi <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>mercato, <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>icolare r<span class=\"_ _1\"></span>iguardo <span class=\"_ _1\"></span>ai <span class=\"_ _1\"></span>tassi <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>cambi<span class=\"_ _1\"></span>o, tass<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>interesse <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>prezzi <span class=\"_ _8\"></span>di merc<span class=\"_ _1\"></span>ato, <span class=\"_ _1\"></span>in<span class=\"_ _8\"></span> </span>quanto <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>oper<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>livello <span class=\"_ _1\"></span>intern<span class=\"_ _1\"></span>azionale <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>aree <span class=\"_ _1\"></span>valu<span class=\"_ _1\"></span>tarie <span class=\"_ _1\"></span>diverse <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>uti<span class=\"_ _1\"></span>lizza <span class=\"_ _1\"></span>strumenti <span class=\"_ _1\"></span>finanziar<span class=\"_ _1\"></span>i c<span class=\"_ _1\"></span>he<span class=\"_ _26a\"> </span> generano interessi;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span>rischio di cred<span class=\"_ _1\"></span>ito, in relazione sia ai<span class=\"_ _1\"></span> normali rapporti comm<span class=\"_ _1\"></span>erciali, che alle att<span class=\"_ _1\"></span>ivit\u00e0 di finanziamento;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span>rischio <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>liquidit<span class=\"ff5\">\u00e0, <span class=\"_ _3\"></span>con <span class=\"_ _2\"></span>particolare<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>riferimento<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>alla <span class=\"_ _2\"></span>dispo<span class=\"_ _1\"></span>nibilit\u00e0 <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>risorse <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>inanziarie <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>all\u2019accesso <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>mercato<span class=\"_ _1\"></span> </span></span>del credito.<span class=\"_ _26a\"> </span> Il <span class=\"_ _27\"> </span>program<span class=\"_ _1\"></span>ma <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>contro<span class=\"_ _1\"></span>llo <span class=\"_ _27\"> </span>e <span class=\"_ _12\"> </span>gestione <span class=\"_ _12\"> </span>dei <span class=\"_ _27\"> </span>rischi <span class=\"_ _12\"> </span>finanziari <span class=\"_ _27\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _27\"> </span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _12\"> </span>focalizza <span class=\"_ _27\"> </span>la <span class=\"_ _12\"> </span>propria <span class=\"_ _12\"> </span>attenzione<span class=\"_ _26a\"> </span> sull\u2019imprevedibilit\u00e0 <span class=\"_ _11\"></span>dei <span class=\"_ _1\"></span>mer<span class=\"_ _1\"></span>cati <span class=\"_ _8\"></span>finanziar<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>h<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>l\u2019obiettivo <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>minimizzare <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>potenz<span class=\"_ _1\"></span>iali <span class=\"_ _8\"></span>effetti <span class=\"_ _8\"></span>negativi <span class=\"_ _8\"></span>su<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>risultati<span class=\"_ _26a\"> </span> finanziari. Il Gruppo ut<span class=\"_ _1\"></span>ilizza strument<span class=\"_ _1\"></span>i finanziari derivati<span class=\"_ _1\"></span> a copertura di alcun<span class=\"_ _1\"></span>i rischi.<span class=\"_ _1\"></span> La  copertura <span class=\"_ _26\"> </span>dei  rischi  f<span class=\"_ _1\"></span>inanziari  d<span class=\"_ _1\"></span>el  Gruppo<span class=\"_ _1\"></span>  \u00e8 <span class=\"_ _26\"> </span>gestita  da  u<span class=\"_ _1\"></span>na  funzi<span class=\"_ _1\"></span>one  cen<span class=\"_ _1\"></span>trale  della <span class=\"_ _27\"> </span>Cap<span class=\"_ _1\"></span>ogruppo <span class=\"_ _90\"> </span>in<span class=\"_ _1\"></span> coordinamento con <span class=\"_ _1\"></span>le singole unit\u00e0 operat<span class=\"_ _1\"></span>ive.<span class=\"_ _1\"></span> Vengono <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>seguito <span class=\"_ _20\"></span>fornite <span class=\"_ _20\"></span>indicazioni <span class=\"_ _11\"></span>q<span class=\"_ _1\"></span>ualitative <span class=\"_ _11\"></span>e <span class=\"_ _20\"> </span>quant<span class=\"_ _1\"></span>itative <span class=\"_ _11\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>riferimento<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>sull\u2019incidenza <span class=\"_ _20\"> </span>di <span class=\"_ _20\"></span>tali <span class=\"_ _11\"></span>rischi <span class=\"_ _20\"></span>sul<span class=\"_ _26a\"> </span> Gruppo Emak.<span class=\"_ _26a\"> </span> I <span class=\"_ _1\"></span>dati <span class=\"_ _8\"></span>quantitativi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>seguito <span class=\"_ _8\"></span>riportati <span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>ha<span class=\"_ _1\"></span>nno <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lenza <span class=\"_ _8\"></span>prevision<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>le, <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>particolar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>ana<span class=\"_ _1\"></span>lisi <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>sensitivit\u00e0 <span class=\"_ _8\"></span>sui<span class=\"_ _26a\"> </span> rischi di<span class=\"_ _3\"></span> mercato <span class=\"_ _3\"></span>non possono <span class=\"_ _3\"></span>riflettere la <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>omplessit\u00e0 e l<span class=\"_ _3\"></span>e reazioni <span class=\"_ _3\"></span>correlate dei <span class=\"_ _3\"></span>mercati che <span class=\"_ _3\"></span>possono derivare<span class=\"_ _26a\"> </span> da ogni cambiamen<span class=\"_ _1\"></span>to ipotizzato.<span class=\"_ _1\"></span> (a) Rischio di mer<span class=\"_ _1\"></span>cato<span class=\"_ _26a\"> </span> (i) Rischio dei tassi <span class=\"_ _1\"></span>di interess<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> Il <span class=\"_ _11\"></span>rischio <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>tassi <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>interesse <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>deriva <span class=\"_ _11\"></span>dai <span class=\"_ _11\"></span>finanziamenti <span class=\"_ _11\"></span>ottenuti <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>lungo <span class=\"_ _11\"></span>termine. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>finanzia<span class=\"_ _1\"></span>menti<span class=\"_ _26a\"> </span> erogati <span class=\"_ _8\"></span>a <span class=\"_ _11\"></span>tasso <span class=\"_ _8\"></span>var<span class=\"_ _1\"></span>iabile <span class=\"_ _8\"></span>es<span class=\"_ _1\"></span>pongono <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>rischi<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>sui <span class=\"_ _11\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>cassa <span class=\"_ _8\"></span>attr<span class=\"_ _1\"></span>ibuibile <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>tass<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>interesse. <span class=\"_ _8\"></span>I<span class=\"_ _1\"></span> finanziamenti erogati <span class=\"_ _3\"></span>a tasso fisso <span class=\"_ _3\"></span>espongono il <span class=\"_ _2\"></span>G<span class=\"_ _1\"></span>ruppo al <span class=\"_ _3\"></span>rischio sul <span class=\"ff7\">fair <span class=\"_ _3\"></span>value<span class=\"ff2\"> attribuibile ai <span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>assi di<span class=\"_ _3\"></span> interesse.<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff2\"> </span></span>La poli<span class=\"_ _1\"></span>tica <span class=\"_ _1\"></span>del Gru<span class=\"_ _1\"></span>ppo s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>basa <span class=\"_ _1\"></span>su <span class=\"_ _1\"></span>una c<span class=\"_ _1\"></span>ostante <span class=\"_ _1\"></span>valutazi<span class=\"_ _1\"></span>one d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>livello <span class=\"_ _1\"></span>di i<span class=\"_ _1\"></span>ndebitamento <span class=\"_ _1\"></span>finanziar<span class=\"_ _1\"></span>io e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>sua<span class=\"_ _26a\"> </span> struttura; <span class=\"_ _23\"> </span>sull\u2019andamento<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>dei <span class=\"_ _23\"> </span>tassi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>interesse <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>delle<span class=\"_ _8\"></span><span class=\"ff2\"> <span class=\"_ _20\"></span>v<span class=\"_ _1\"></span>ariabili <span class=\"_ _23\"> </span>macroecon<span class=\"_ _1\"></span>omiche <span class=\"_ _23\"></span>che <span class=\"_ _23\"> </span>possono <span class=\"_ _23\"> </span>esercitare<span class=\"_ _1\"></span> </span>un\u2019influenza diretta sugli stessi, con l\u2019obiettivo di <span class=\"_ _3\"></span>cogliere le migliori opportunit\u00e0 di ottimizzazione del costo del<span class=\"_ _26a\"> </span> denaro. <span class=\"_ _2\"></span>A<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>31 <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>icembre <span class=\"_ _3\"></span>2022, <span class=\"_ _2\"></span>i <span class=\"_ _3\"></span>finanziament<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>sono, <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>maggior <span class=\"_ _3\"></span>parte, <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>tas<span class=\"_ _1\"></span>si <span class=\"_ _2\"></span>variab<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>li <span class=\"_ _2\"></span>e, <span class=\"_ _3\"></span>conseguentemente,<span class=\"_ _1\"></span> il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _20\"></span>ha <span class=\"_ _11\"></span>posto <span class=\"_ _11\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _11\"></span>esse<span class=\"_ _1\"></span>re <span class=\"_ _11\"></span>operaz<span class=\"_ _1\"></span>ioni <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>cop<span class=\"_ _1\"></span>ertura <span class=\"_ _20\"></span>volte <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>conte<span class=\"_ _1\"></span>nerne <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>effetti. <span class=\"_ _20\"></span>Sebbene <span class=\"_ _11\"></span>tali <span class=\"_ _20\"></span>operazioni<span class=\"_ _1\"></span> siano stipulate <span class=\"_ _3\"></span>con finalit\u00e0 di <span class=\"_ _3\"></span>copertura, qualora non <span class=\"_ _3\"></span>sia formalizzata una <span class=\"_ _3\"></span>specifica documentaz<span class=\"_ _1\"></span>ione attestante<span class=\"_ _26a\"> </span> la relazione di co<span class=\"_ _1\"></span>pertura, i principi contab<span class=\"_ _1\"></span>ili non ne permettono <span class=\"_ _1\"></span>il trattamento in <span class=\"_ _1\"></span><span class=\"ff7\">h<span class=\"_ _1\"></span>edge account<span class=\"_ _1\"></span>ing</span>. Pertant<span class=\"_ _1\"></span>o la<span class=\"_ _26a\"> </span> variabilit\u00e0 dei valor<span class=\"_ _1\"></span>i sottostanti pu\u00f2 incider<span class=\"_ _1\"></span>e sui risultati econ<span class=\"_ _1\"></span>omici della societ\u00e0.<span class=\"_ _8\"></span> Analisi di sensitivit\u00e0<span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>effetti<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>derivant<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>dal<span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>va<span class=\"_ _1\"></span>riazione <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>tass<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>interesse <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>engono <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>nalizzati <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>il <span class=\"_ _11\"></span>loro <span class=\"_ _8\"></span>potenzi<span class=\"_ _1\"></span>ale <span class=\"_ _8\"></span>imp<span class=\"_ _1\"></span>atto <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n<span class=\"_ _26a\"> </span> termini di flussi <span class=\"_ _1\"></span>di cas<span class=\"_ _1\"></span>sa, in <span class=\"_ _1\"></span>quanto il Gr<span class=\"_ _1\"></span>uppo dispone q<span class=\"_ _1\"></span>uasi esclusiva<span class=\"_ _1\"></span>mente di <span class=\"_ _1\"></span>attivit\u00e0 e passivi<span class=\"_ _1\"></span>t\u00e0 finanz<span class=\"_ _1\"></span>iarie a<span class=\"_ _26a\"> </span> tasso variabile.<span class=\"_ _1\"></span> Un\u2019ipotetica, <span class=\"_ _23\"> </span>ista<span class=\"_ _1\"></span>ntanea <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>sfavorevole <span class=\"_ _23\"> </span>vari<span class=\"_ _1\"></span>azione<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>egativa <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>50 <span class=\"_ _23\"> </span>pu<span class=\"_ _1\"></span>nti <span class=\"_ _23\"> </span>base <span class=\"_ _21\"> </span>dei <span class=\"_ _21\"> </span>tassi <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>interesse <span class=\"_ _21\"> </span>annuali<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>applicabili  alle <span class=\"_ _1e\"> </span>passivit\u00e0 <span class=\"_ _1f\"> </span>finanziarie<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>a  tasso <span class=\"_ _1e\"> </span>variabi<span class=\"_ _1\"></span>le <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>essere  al <span class=\"_ _1e\"> </span>31  dicembre <span class=\"_ _1e\"> </span>2022  comporterebbe  un<span class=\"_ _26a\"> </span> maggiore onere <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>etto, <span class=\"_ _3\"></span>su base <span class=\"_ _3\"></span>annua, di <span class=\"_ _3\"></span>circa 75<span class=\"_ _3\"></span>7 migliaia <span class=\"_ _3\"></span>di E<span class=\"_ _3\"></span>uro (518 <span class=\"_ _3\"></span>migliaia di <span class=\"_ _3\"></span>Euro al <span class=\"_ _2\"></span>31<span class=\"_ _8\"></span> di<span class=\"_ _3\"></span>cembre 2021).<span class=\"_ _26a\"> </span> Ai <span class=\"_ _21\"> </span>fini <span class=\"_ _21\"> </span>del <span class=\"_ _21\"> </span>calcolo <span class=\"_ _21\"> </span>si <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _21\"> </span>considerati <span class=\"_ _21\"> </span>i<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>fi<span class=\"_ _1\"></span>nanziamenti <span class=\"_ _21\"> </span>pas<span class=\"_ _1\"></span>sivi <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>netto <span class=\"_ _21\"> </span>delle <span class=\"_ _1e\"> </span>operazioni <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>copertur<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>tasso<span class=\"_ _26a\"> </span> effettuate, dei debiti per <span class=\"_ _1\"></span>acquisto di quote <span class=\"_ _1\"></span>di minoranza di partec<span class=\"_ _1\"></span>ipazioni e de<span class=\"_ _1\"></span>i finanziamenti a tass<span class=\"_ _1\"></span>o fisso. <span class=\"_ _8\"></span> (ii) Rischio di cambi<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> Il <span class=\"_ _1\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>svolge <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>propria <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>campo <span class=\"_ _8\"></span>internazi<span class=\"_ _1\"></span>onale <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>esposto <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>rischio <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cambio <span class=\"_ _8\"></span>derivante<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>lle<span class=\"_ _26a\"> </span> valute utilizzate che poss<span class=\"_ _1\"></span>ono influire sul risu<span class=\"_ _1\"></span>ltato economico e<span class=\"_ _1\"></span> sul valore del p<span class=\"_ _1\"></span>atrimonio netto.<span class=\"_ _8\"></span> I <span class=\"_ _3\"></span>saldi netti <span class=\"_ _3\"></span>a <span class=\"_ _3\"></span>cui il <span class=\"_ _3\"></span>Gruppo<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>\u00e8 esposto <span class=\"_ _3\"></span>al rischio <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ambio in <span class=\"_ _3\"></span>quanto la <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>aluta non <span class=\"_ _3\"></span>\u00e8 quella <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i fun<span class=\"_ _3\"></span>zion<span class=\"_ _1\"></span>amento locale<span class=\"_ _26a\"> </span> delle societ\u00e0 del Grupp<span class=\"_ _1\"></span>o sono i seguent<span class=\"_ _1\"></span>i al 31 dicembre 20<span class=\"_ _1\"></span>22:<span class=\"_ _1\"></span> Posizione creditoria in <span class=\"_ _1\"></span>Dollari Statunitensi<span class=\"_ _8\"></span> <span class=\"_ _f2\"> </span> <span class=\"_ _ff\"> </span>15<span class=\"_ _3\"></span>.918 mig<span class=\"_ _1\"></span>liaia<span class=\"_ _26a\"> </span> Posizione creditoria in <span class=\"_ _1\"></span>Pesos messican<span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _178\"> </span> <span class=\"_ _2b\"> </span><span class=\"ls4\">14.5<span class=\"_ _1\"></span></span>99 migliaia<span class=\"_ _1\"></span> Posizione creditoria in Z<span class=\"_ _1\"></span>loty<span class=\"_ _1\"></span> <span class=\"_ _d\"> </span> <span class=\"_ _56\"> </span> <span class=\"_ _56\"> </span> <span class=\"_ _2b\"> </span><span class=\"ls5\">  </span>6.2<span class=\"_ _1\"></span>27 migliaia<span class=\"_ _1\"></span> Posizione creditoria in <span class=\"_ _1\"></span>Sterlina Britannica<span class=\"_ _8\"></span> <span class=\"_ _be\"> </span> <span class=\"_ _2b\"> </span><span class=\"ls5\">     </span>58<span class=\"_ _1\"></span>7 migliaia<span class=\"_ _1\"></span> Posizione debitoria <span class=\"_ _1\"></span>in Renminbi<span class=\"_ _1\"></span> <span class=\"_ _12e\"> </span><span class=\"ls5\">   </span>127.104 mig<span class=\"_ _1\"></span>liaia<span class=\"_ _26a\"> </span> Posizione debitoria <span class=\"_ _1\"></span>in Euro <span class=\"_ _1\"></span> <span class=\"_ _184\"> </span> <span class=\"_ _2b\"> </span> <span class=\"_ _56\"> </span> <span class=\"_ _56\"> </span>19.791 migliai<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span> Posizione debitoria <span class=\"_ _1\"></span>in Yen <span class=\"_ _1\"></span> <span class=\"_ _a4\"> </span> <span class=\"_ _2b\"> </span> <span class=\"_ _2b\"> </span> <span class=\"_ _56\"> </span>23.6<span class=\"_ _1\"></span>11 migliaia<span class=\"_ _1\"></span> Posizione debitoria <span class=\"_ _1\"></span>in Franchi Svizzeri<span class=\"_ _1\"></span> <span class=\"_ _100\"> </span> <span class=\"_ _56\"> </span> <span class=\"_ _56\"> </span><span class=\"ls5\">     </span>87 m<span class=\"_ _1\"></span>igliaia<span class=\"_ _26a\"> </span> In particolare:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>nei  cas<span class=\"_ _1\"></span>i  i<span class=\"_ _1\"></span>n  c<span class=\"_ _1\"></span>ui <span class=\"_ _90\"> </span>l<span class=\"_ _1\"></span>e  s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _26\"> </span>del  Gr<span class=\"_ _1\"></span>uppo  s<span class=\"_ _1\"></span>ostengono <span class=\"_ _26\"> </span>costi <span class=\"_ _26\"> </span>denominati <span class=\"_ _26\"> </span>in  v<span class=\"_ _1\"></span>alute <span class=\"_ _26\"> </span>diverse  d<span class=\"_ _1\"></span>a  q<span class=\"_ _1\"></span>uelle <span class=\"_ _26\"> </span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>denominazione <span class=\"_ _1\"></span>dei risp<span class=\"_ _1\"></span>ettivi ricavi, <span class=\"_ _1\"></span>la f<span class=\"_ _1\"></span>luttuazione <span class=\"_ _1\"></span>dei tas<span class=\"_ _1\"></span>si di <span class=\"_ _8\"></span>cam<span class=\"_ _1\"></span>bio pu\u00f2 <span class=\"_ _1\"></span>influenzare <span class=\"_ _1\"></span>il risu<span class=\"_ _1\"></span>ltato opera<span class=\"_ _1\"></span>tivo<span class=\"_ _26a\"> </span> di tali societ\u00e0.  Nell\u2019esercizio <span class=\"_ _8\"></span>20<span class=\"_ _1\"></span>22 <span class=\"_ _8\"></span>l\u2019ammo<span class=\"_ _1\"></span>ntare <span class=\"_ _8\"></span>compless<span class=\"_ _1\"></span>ivo <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>ricavi <span class=\"_ _8\"></span>direttamente <span class=\"_ _11\"></span>esposti <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>rischio <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ambio <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>stato<span class=\"_ _26a\"> </span> equivalente <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>7,6%<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>fatturato <span class=\"_ _11\"></span>aggregato <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _8\"></span>(8,1<span class=\"_ _1\"></span>% <span class=\"_ _8\"></span>n<span class=\"_ _1\"></span>ell\u2019esercizio <span class=\"_ _11\"></span>2021), <span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>nt<span class=\"_ _8\"></span>re <span class=\"_ _8\"></span>l\u2019<span class=\"_ _1\"></span>ammontare<span class=\"_ _26a\"> </span> dei <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _3\"></span>esposti al <span class=\"_ _2\"></span>rischio di <span class=\"_ _2\"></span>cambio \u00e8 <span class=\"_ _2\"></span>pari al <span class=\"_ _2\"></span>20% del <span class=\"_ _2\"></span>fa<span class=\"_ _1\"></span>tturato <span class=\"_ _3\"></span>aggregato del <span class=\"_ _2\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _3\"></span>(22,7% nell\u2019esercizio<span class=\"_ _26a\"> </span> 2021).<span class=\"_ _26a\"> </span> I principali rapporti di ca<span class=\"_ _1\"></span>mbio a cui il Gruppo \u00e8<span class=\"_ _1\"></span> esposto r<span class=\"_ _1\"></span>iguardano:<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/USD, <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>lazione <span class=\"_ _1\"></span>alle <span class=\"_ _8\"></span>vendite <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>agl<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>acquisti <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ollari <span class=\"_ _1\"></span>effettuate <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ul <span class=\"_ _1\"></span>merc<span class=\"_ _1\"></span>ato <span class=\"_ _1\"></span>nordameric<span class=\"_ _1\"></span>ano <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>su<span class=\"_ _1\"></span> </span>altri mercati <span class=\"_ _3\"></span>in cui il <span class=\"_ _3\"></span>dollaro sia valuta di<span class=\"_ _3\"></span> riferimento per gli scambi <span class=\"_ _3\"></span>commerc<span class=\"_ _1\"></span>iali e <span class=\"_ _3\"></span>alle produzioni/acqu<span class=\"_ _1\"></span>isti<span class=\"_ _26a\"> </span> in area Euro;<span class=\"_ _26a\"> </span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/GBP, essenzialmente<span class=\"_ _1\"></span> in relazione alle vend<span class=\"_ _1\"></span>ite sul mercato UK;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span><span class=\"ls30\">EU</span>R/RMB e USD/R<span class=\"_ _1\"></span>MB in relazione alle <span class=\"_ _1\"></span>attivit\u00e0 produtt<span class=\"_ _1\"></span>ive cinesi e ai relativi fluss<span class=\"_ _1\"></span>i import/export;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/YEN, relativamente <span class=\"_ _1\"></span>agli acquisti su<span class=\"_ _1\"></span>l mercato giapponese;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/PLN, relativamente a<span class=\"_ _1\"></span>lle vendite sul mercato <span class=\"_ _1\"></span>polacco;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/UAH e USD/UAH, re<span class=\"_ _1\"></span>lativamente a<span class=\"_ _1\"></span>lle vendite<span class=\"_ _1\"></span> sul mercato ucrain<span class=\"_ _1\"></span>o;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>USD/REAL, RMB/REAL <span class=\"_ _1\"></span>e EUR/REAL, re<span class=\"_ _1\"></span>lativamente <span class=\"_ _1\"></span>alle vendite sul mercat<span class=\"_ _1\"></span>o brasiliano;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/ZAR, relativamente a<span class=\"_ _1\"></span>gli acquisti sul merc<span class=\"_ _1\"></span>ato sudafricano<span class=\"_ _1\"></span>;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>EUR/MXR relativamente a<span class=\"_ _1\"></span>lle vendite sul merc<span class=\"_ _1\"></span>ato messicano;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>USD/SEK e EUR/SEK, rel<span class=\"_ _1\"></span>ativame<span class=\"_ _1\"></span>nte agli acquisti e al<span class=\"_ _1\"></span>le vendite sul merc<span class=\"_ _1\"></span>ato svedese.<span class=\"_ _8\"></span> </span>Con altre valute non son<span class=\"_ _1\"></span>o in essere fluss<span class=\"_ _1\"></span>i commerciali rilevanti.<span class=\"_ _8\"></span> \u00c8 <span class=\"_ _8\"></span>politica <span class=\"_ _11\"></span>del <span class=\"_ _8\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>copri<span class=\"_ _1\"></span>re, <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>parte, <span class=\"_ _11\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>lussi <span class=\"_ _11\"></span>netti <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>valuta, <span class=\"_ _8\"></span>tipicame<span class=\"_ _1\"></span>nte <span class=\"_ _8\"></span>med<span class=\"_ _1\"></span>iante <span class=\"_ _8\"></span>ut<span class=\"_ _1\"></span>ilizzo <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>tratti <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> termine  e <span class=\"_ _26\"> </span>opzioni, <span class=\"_ _26\"> </span>valutando <span class=\"_ _26\"> </span>a  secon<span class=\"_ _1\"></span>da  d<span class=\"_ _1\"></span>elle  c<span class=\"_ _1\"></span>ondizioni  d<span class=\"_ _1\"></span>i  m<span class=\"_ _1\"></span>ercato <span class=\"_ _26\"> </span>e  di <span class=\"_ _26\"> </span>esposizione <span class=\"_ _26\"> </span>netta  fut<span class=\"_ _1\"></span>ura<span class=\"_ _26a\"> </span> l\u2019ammontare <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>le <span class=\"_ _23\"> </span>sc<span class=\"_ _1\"></span>adenze, <span class=\"_ _23\"> </span>con <span class=\"_ _23\"> </span>l\u2019obiettivo <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>minimiz<span class=\"_ _1\"></span>zare <span class=\"_ _23\"> </span>l\u2019impatto <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>eventua<span class=\"_ _1\"></span>li <span class=\"_ _23\"> </span>variazioni <span class=\"_ _23\"> </span>dei <span class=\"_ _23\"> </span>tass<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span> cambio futuri.  \u2022<span class=\"ff2\"> <span class=\"_ _2f\"> </span>In relazi<span class=\"_ _1\"></span>one alle attivit\u00e0 commercial<span class=\"_ _1\"></span>i, le societ\u00e0 del Gru<span class=\"_ _1\"></span>ppo possono detenere cr<span class=\"_ _1\"></span>editi o debiti commerciali<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>denominati in <span class=\"_ _3\"></span>valute diverse da <span class=\"_ _3\"></span>que<span class=\"_ _1\"></span>lla <span class=\"_ _3\"></span>di conto dell\u2019entit\u00e0 <span class=\"_ _3\"></span>che li detiene e <span class=\"_ _3\"></span>la variazione <span class=\"_ _3\"></span>dei tassi <span class=\"_ _3\"></span>di cambio<span class=\"_ _26a\"> </span> pu\u00f2 determinare <span class=\"_ _1\"></span>la realizzazione o l\u2019accerta<span class=\"_ _1\"></span>mento di di<span class=\"_ _1\"></span>fferenze di cambio.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _2f\"> </span><span class=\"ff5\">Alcun<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _11\"></span>controllate <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>localizzate <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>P<span class=\"_ _1\"></span>aesi <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>appartenenti <span class=\"_ _11\"></span>all\u2019Unione <span class=\"_ _11\"></span>Monetar<span class=\"_ _1\"></span>ia<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"> </span></span>Europea, <span class=\"_ _11\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>particolare <span class=\"_ _20\"></span>Stati <span class=\"_ _11\"></span>U<span class=\"_ _1\"></span>niti, <span class=\"_ _11\"></span>Regn<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>Unito, <span class=\"_ _20\"></span>Polonia, <span class=\"_ _20\"></span>Svezia, <span class=\"_ _11\"></span>C<span class=\"_ _1\"></span>ina, <span class=\"_ _11\"></span>Ucra<span class=\"_ _1\"></span>ina, <span class=\"_ _11\"></span>Sud <span class=\"_ _20\"></span>Africa, <span class=\"_ _20\"></span>Marocco,<span class=\"_ _26a\"> </span> Messico, <span class=\"_ _20\"></span>Brasile <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>Cile. <span class=\"_ _20\"></span>Poich\u00e9 <span class=\"_ _11\"></span>la <span class=\"_ _20\"></span>valuta <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>riferi<span class=\"_ _1\"></span><span class=\"ff5\">men<span class=\"_ _1\"></span>to <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>l\u2019Euro, <span class=\"_ _11\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>conti <span class=\"_ _20\"></span>economici <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>ta<span class=\"_ _1\"></span>li<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>societ\u00e0 <span class=\"_ _3\"></span>sono convertiti in <span class=\"_ _3\"></span>Euro al <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ambio medio <span class=\"_ _3\"></span>di periodo <span class=\"_ _3\"></span>e, a <span class=\"_ _3\"></span>parit\u00e0 di <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>icavi e <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i margini <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>valuta locale,<span class=\"_ _26a\"> </span> variazioni dei tassi di cambio possono comportare effet<span class=\"_ _1\"></span>ti sul controvalore in Euro di ri<span class=\"_ _1\"></span>cavi, costi e risultati<span class=\"_ _26a\"> </span> economici.<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _2f\"> </span><span class=\"ff5\">Attiv<span class=\"_ _1\"></span>it\u00e0 e <span class=\"_ _1\"></span>passivit\u00e0 <span class=\"_ _1\"></span>delle s<span class=\"_ _1\"></span>ociet\u00e0 contro<span class=\"_ _1\"></span>llate del <span class=\"_ _1\"></span>Gruppo l<span class=\"_ _1\"></span>a cui va<span class=\"_ _1\"></span>luta d<span class=\"_ _1\"></span>i conto \u00e8<span class=\"_ _1\"></span> diver<span class=\"_ _1\"></span>sa dall\u2019Eur<span class=\"_ _1\"></span>o possono<span class=\"_ _1\"></span> </span></span>assumere <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>ntrovalori <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>iversi <span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>seconda <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u2019andament<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>tas<span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>cambio. <span class=\"_ _1\"></span>Co<span class=\"_ _1\"></span>me <span class=\"_ _1\"></span>prev<span class=\"_ _1\"></span>isto <span class=\"_ _1\"></span>dai<span class=\"_ _26a\"> </span> principi <span class=\"_ _23\"></span>contabili <span class=\"_ _23\"> </span>adotta<span class=\"_ _1\"></span>ti, <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>effetti <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>tali <span class=\"_ _23\"> </span>variaz<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"></span>sono <span class=\"_ _23\"> </span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>nel <span class=\"_ _23\"></span>conto <span class=\"_ _23\"> </span>economico <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>mplessivo <span class=\"_ _23\"> </span>e<span class=\"_ _26a\"> </span> evidenziati nel patrimo<span class=\"_ _1\"></span>nio netto, nella v<span class=\"_ _1\"></span>oce Riserva per<span class=\"_ _1\"></span> differenze di convers<span class=\"_ _1\"></span>ione (si veda N<span class=\"_ _1\"></span>ota 28).<span class=\"_ _8\"></span>  <span class=\"_ _ff\"> </span>Alla <span class=\"_ _1\"></span>data <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>bilancio<span class=\"_ _1\"></span> no<span class=\"_ _1\"></span>n v<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>erano c<span class=\"_ _1\"></span>operture <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>essere<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>fronte <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>tali <span class=\"_ _1\"></span>esposizio<span class=\"_ _1\"></span>ni <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>rischio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>camb<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>da<span class=\"_ _26a\"> </span> conversione.<span class=\"_ _1\"></span> Analisi di sensitivit\u00e0<span class=\"_ _1\"></span> La <span class=\"_ _21\"> </span>perdita <span class=\"_ _1e\"> </span>potenziale <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span><span class=\"ff7\">fair <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>alue <span class=\"_ _21\"> </span></span>d<span class=\"_ _1\"></span>el <span class=\"_ _21\"> </span>saldo <span class=\"_ _1e\"> </span>netto <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>p<span class=\"_ _1\"></span>assivit\u00e0 <span class=\"_ _21\"> </span>fi<span class=\"_ _1\"></span>nanziarie <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>oggette <span class=\"_ _1e\"> </span>a <span class=\"_ _21\"> </span>rischio <span class=\"_ _1e\"> </span>di<span class=\"_ _26a\"> </span> variazione <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>t<span class=\"_ _1\"></span>assi <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>ca<span class=\"_ _1\"></span>mbio <span class=\"_ _21\"> </span>detenuti <span class=\"_ _21\"> </span>dal <span class=\"_ _23\"> </span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _21\"> </span>al <span class=\"_ _1e\"> </span><span class=\"ff5\">31 <span class=\"_ _21\"> </span>dicembre <span class=\"_ _21\"> </span>2022, <span class=\"_ _21\"> </span>in <span class=\"_ _21\"> </span>conseguenza<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>un\u2019ipotetica<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>variazione sfavorevo<span class=\"_ _1\"></span>le ed immediata del 10% di tutt<span class=\"_ _1\"></span>i i singoli tassi di cambio delle<span class=\"_ _1\"></span> valute funzionali con quelle<span class=\"_ _26a\"> </span> estere, sarebbe pari <span class=\"_ _1\"></span>a circa 1.988 mig<span class=\"_ _1\"></span>liaia di Euro (518<span class=\"_ _1\"></span> migliaia di Euro a<span class=\"_ _1\"></span>l 31 dicembre 2<span class=\"_ _1\"></span>021<span class=\"_ _1\"></span><span class=\"lsf\">).</span> Altri rischi su strum<span class=\"_ _1\"></span>enti finanz<span class=\"_ _1\"></span>iari derivati<span class=\"_ _1\"></span> Come descritto nella Nota <span class=\"_ _1\"></span>23, il Gruppo detiene alcun<span class=\"_ _1\"></span>i strumenti finanziari deriv<span class=\"_ _1\"></span>ati di copertura su c<span class=\"_ _1\"></span>ambi il cui<span class=\"_ _26a\"> </span> valore <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ollegato <span class=\"_ _11\"></span>all\u2019andamento <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>tassi <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>cambio <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span>operazioni <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>acquisto <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>termine <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span><span class=\"ff2\">valuta <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>opzioni) <span class=\"_ _11\"></span>e<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>all\u2019andamento dei tass<span class=\"_ _1\"></span>i di interesse.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Sebbene <span class=\"_ _11\"></span>tali <span class=\"_ _11\"></span>operazioni <span class=\"_ _11\"></span>siano <span class=\"_ _11\"></span>stipulate <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>finalit\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura,<span class=\"_ _1\"></span><span class=\"ff3 fs3\"> <span class=\"_ _20\"></span></span>qualora <span class=\"_ _11\"></span>non <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ia <span class=\"_ _11\"></span>formalizzata <span class=\"_ _11\"></span>una <span class=\"_ _11\"></span>specifica<span class=\"_ _1\"></span> documentazione <span class=\"_ _11\"></span>attestante<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>relazione <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura, <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>principi <span class=\"_ _11\"></span>contabili <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>ne <span class=\"_ _11\"></span>permettono <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>trattamento <span class=\"_ _20\"></span>in<span class=\"_ _26a\"> </span> hedge accounting<span class=\"ff2\">. <span class=\"_ _1\"></span>Pertanto, la var<span class=\"_ _1\"></span>iabilit\u00e0 dei valori sott<span class=\"_ _1\"></span>ostanti pu\u00f2 incidere s<span class=\"_ _1\"></span>ui risultati econom<span class=\"_ _1\"></span>ici <span class=\"_ _1\"></span>del Gruppo<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>Analisi di sensitivit\u00e0<span class=\"_ _1\"></span> La perdita potenziale di <span class=\"ff7\">fa<span class=\"_ _1\"></span>ir value </span>deg<span class=\"_ _1\"></span>li strumenti finanziari deriv<span class=\"_ _1\"></span>ati in cambi in essere al 31 dice<span class=\"_ _1\"></span>mbre 2022, in<span class=\"_ _26a\"> </span> conseguenza di un\u2019ipotetic<span class=\"_ _1\"></span>a istantanea e sfavorev<span class=\"_ _1\"></span>ole variazione del 10% <span class=\"_ _1\"></span>nei valori sottostanti, sarebbe p<span class=\"_ _8\"></span><span class=\"ff2\">ari <span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>circa 1.295 migliaia di<span class=\"_ _1\"></span> Euro (335 <span class=\"_ _1\"></span>migliaia di Euro al 3<span class=\"_ _1\"></span>1 dicembre 2021).<span class=\"_ _8\"></span> (iii) Rischio di prezz<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span> Il Gruppo \u00e8 <span class=\"_ _3\"></span>esposto alla fluttuazione del prezzo delle materie prime. L\u2019esposizione<span class=\"_ _1\"></span> \u00e8 prevalente verso fornitori<span class=\"_ _26a\"> </span> di componenti ess<span class=\"_ _1\"></span>endo i prez<span class=\"_ _1\"></span>zi di <span class=\"ff5\">q<span class=\"_ _1\"></span>uesti ultimi i<span class=\"_ _1\"></span>nfluenzati dall\u2019an<span class=\"_ _1\"></span>damento del m<span class=\"_ _1\"></span>ercato delle m<span class=\"_ _1\"></span>aterie prime. <span class=\"_ _1\"></span>Le<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>materie prime di ma<span class=\"_ _1\"></span>ggiore utilizzo si r<span class=\"_ _1\"></span>iferiscono ad a<span class=\"_ _1\"></span>lluminio, lamiera, ottone, <span class=\"_ _1\"></span>leghe metallich<span class=\"_ _1\"></span>e, plastica, rame<span class=\"_ _1\"></span> nonch\u00e9 di semilavor<span class=\"_ _1\"></span>ati quali i motori.<span class=\"_ _1\"></span> L\u2019aumento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _8\"></span>prezz<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>delle <span class=\"_ _11\"></span>materie <span class=\"_ _8\"></span>pri<span class=\"_ _1\"></span>me <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onnesso <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>fenomeni <span class=\"_ _11\"></span>macroeconomici, <span class=\"_ _8\"></span>tr<span class=\"_ _1\"></span>ainati <span class=\"_ _8\"></span>dall\u2019au<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> costi <span class=\"_ _2a\"> </span>energetici <span class=\"_ _2a\"> </span>e <span class=\"_ _2a\"> </span>de<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>be<span class=\"_ _1\"></span>ni <span class=\"_ _12\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>pr<span class=\"_ _1\"></span>ima <span class=\"_ _2a\"> </span>necessit<span class=\"_ _1\"></span>\u00e0, <span class=\"_ _2a\"> </span>nonch\u00e9 <span class=\"_ _2a\"> </span>le <span class=\"_ _2a\"> </span>tensi<span class=\"_ _1\"></span>oni <span class=\"_ _12\"> </span>c<span class=\"_ _1\"></span>he <span class=\"_ _2a\"> </span>caratterizz<span class=\"_ _1\"></span>ano <span class=\"_ _2a\"> </span>la <span class=\"_ _2a\"> </span>catena <span class=\"_ _28\"> </span>di<span class=\"_ _26a\"> </span> approvvigionament<span class=\"_ _1\"></span>o del Gruppo.<span class=\"_ _1\"></span> L\u2019aumento dei <span class=\"_ _2\"></span>costi di <span class=\"_ _2\"></span>trasp<span class=\"_ _1\"></span>orto <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>distribuz<span class=\"_ _1\"></span>io<span class=\"ff2\">n<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>impatta sui <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _3\"></span>operativi del <span class=\"_ _2\"></span>G<span class=\"_ _1\"></span>ruppo, <span class=\"_ _3\"></span>con po<span class=\"_ _3\"></span>tenzi<span class=\"_ _1\"></span>ale <span class=\"_ _3\"></span>riduzione<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>della <span class=\"_ _1\"></span>reddit<span class=\"_ _1\"></span>ivit\u00e0, <span class=\"_ _1\"></span>eventu<span class=\"_ _1\"></span>ale <span class=\"_ _1\"></span>emers<span class=\"_ _1\"></span>ione <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>indicator<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>impairment <span class=\"_ _8\"></span>e <span class=\"_ _1\"></span>riduzione<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>netto <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>realizzo <span class=\"_ _8\"></span>delle<span class=\"_ _26a\"> </span> attivit\u00e0.  Il <span class=\"_ _8\"></span>risc<span class=\"_ _1\"></span>hio <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>iene <span class=\"_ _11\"></span>parzialmente <span class=\"_ _11\"></span>mitigato <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>ediante <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>stipulazione<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>accordi <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>acqu<span class=\"_ _1\"></span>isto <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>i <span class=\"_ _11\"></span>princ<span class=\"_ _1\"></span>ipali <span class=\"_ _8\"></span>f<span class=\"_ _1\"></span>ornitori<span class=\"_ _1\"></span> con <span class=\"_ _21\"> </span>prez<span class=\"_ _1\"></span>zi <span class=\"_ _21\"> </span>bloccat<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>on <span class=\"_ _21\"> </span>or<span class=\"_ _1\"></span>izzonti <span class=\"_ _21\"> </span>te<span class=\"_ _1\"></span>mporali <span class=\"_ _1e\"> </span>a <span class=\"_ _21\"> </span>brev<span class=\"_ _1\"></span>e <span class=\"_ _21\"> </span>t<span class=\"_ _1\"></span>ermine <span class=\"_ _1e\"> </span>a <span class=\"_ _21\"> </span>cui <span class=\"_ _1e\"> </span>si <span class=\"_ _1e\"> </span>aggiunge <span class=\"_ _1e\"> </span>un <span class=\"_ _1e\"> </span>monitoraggio <span class=\"_ _1e\"> </span>costante<span class=\"_ _1\"></span> dell\u2019andamento de<span class=\"_ _1\"></span>i costi delle materie<span class=\"_ _1\"></span> prime e della log<span class=\"_ _1\"></span>istica.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>avvale <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>politiche <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>ade<span class=\"_ _1\"></span>guare <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _11\"></span>dei <span class=\"_ _8\"></span>beni <span class=\"_ _11\"></span>venduti <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>caso <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>variazioni <span class=\"_ _11\"></span>significative <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> costi.<span class=\"_ _26a\"> </span> (b) Rischio di credito<span class=\"_ _1\"></span> Il Gruppo al <span class=\"_ _3\"></span>fine di far fronte al rischio di <span class=\"_ _3\"></span>credito ha posto in essere politiche che assicurano che le vendite dei<span class=\"_ _26a\"> </span> prodotti <span class=\"_ _11\"></span>siano <span class=\"_ _11\"></span>effet<span class=\"_ _1\"></span>tuate <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>lienti <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>un<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>solvibilit\u00e0 <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>ccertata <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>alcune <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>ategorie <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>credito <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>oggetto <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span> copertura del rischio tram<span class=\"_ _1\"></span>ite primarie comp<span class=\"_ _1\"></span>agnie di as<span class=\"_ _1\"></span>sicurazione.<span class=\"_ _8\"></span> La <span class=\"_ _8\"></span>massima <span class=\"_ _11\"></span>esposizione <span class=\"_ _8\"></span>te<span class=\"_ _1\"></span>orica <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>risc<span class=\"_ _1\"></span>hio <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cr<span class=\"_ _1\"></span>edito <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>il <span class=\"_ _1\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2<span class=\"_ _1\"></span>022 <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>rap<span class=\"_ _1\"></span>presentata <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span> va<span class=\"ls1\">lore contabile delle attivi<span class=\"_ _1\"></span>t\u00e0 finanziarie r<span class=\"_ _1\"></span>appresentate in b<span class=\"_ _1\"></span>ilancio. <span class=\"_ _1\"></span> </span>L\u2019erogazione <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>crediti <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>clientela <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>oggetto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>specifiche <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lutazioni <span class=\"_ _1\"></span>sulla <span class=\"_ _1\"></span>loro <span class=\"_ _1\"></span>solvibilit\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>genera<span class=\"_ _1\"></span>lmente <span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span> Gruppo ottiene delle garanzie finanziarie<span class=\"_ _1\"></span> e non finanziarie a fronte<span class=\"_ _1\"></span> dei crediti concessi per forniture di prodotti<span class=\"_ _26a\"> </span> destinate in alcuni paes<span class=\"_ _1\"></span>i.  Sono <span class=\"_ _1f\"> </span>oggetto  di <span class=\"_ _1e\"> </span>costan<span class=\"_ _1\"></span>te  analisi <span class=\"_ _1e\"> </span>e  di <span class=\"_ _1f\"> </span>eventuale  svalutazione  individuale  le <span class=\"_ _1e\"> </span>posizioni,  se <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ingolarmente<span class=\"_ _1\"></span> significative, per le qu<span class=\"_ _1\"></span>ali si rileva un\u2019oggett<span class=\"_ _1\"></span>iva condizione di<span class=\"_ _1\"></span> inesigibil<span class=\"_ _1\"></span><span class=\"ff2\">it\u00e0 <span class=\"_ _1\"></span>parziale o totale. <span class=\"_ _1\"></span> </span>L\u2019ammontare della <span class=\"_ _3\"></span>svalutazion<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>\u00e8 stimato <span class=\"_ _3\"></span>sulla base <span class=\"_ _3\"></span>dei flussi <span class=\"_ _3\"></span>recuperabili, della <span class=\"_ _3\"></span>relativa data di <span class=\"_ _3\"></span>incasso, degli<span class=\"_ _26a\"> </span> oneri <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>spese <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>recupero <span class=\"_ _8\"></span>futuri,<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>nonch\u00e9 <span class=\"_ _8\"></span>delle<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>eventuali <span class=\"_ _8\"></span>garanz<span class=\"_ _1\"></span>ie <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>ere. <span class=\"_ _8\"></span>A <span class=\"_ _8\"></span>fronte <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>crediti <span class=\"_ _8\"></span>che <span class=\"_ _11\"></span>non <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ono<span class=\"_ _26a\"> </span> oggetto <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>svalutaz<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>individuale <span class=\"_ _11\"></span>ven<span class=\"_ _1\"></span>gono <span class=\"_ _11\"></span>accantonati <span class=\"_ _11\"></span>fondi <span class=\"_ _11\"></span>sv<span class=\"_ _1\"></span>alutazione <span class=\"_ _11\"></span>su <span class=\"_ _11\"></span>base <span class=\"_ _11\"></span>col<span class=\"_ _1\"></span>lettiva, <span class=\"_ _11\"></span>tenuto <span class=\"_ _11\"></span>conto<span class=\"_ _1\"></span> dell\u2019esperienza stor<span class=\"_ _1\"></span>ica e di dati statistici.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Al <span class=\"_ _11\"></span>31 <span class=\"_ _11\"></span>dicembre <span class=\"_ _20\"></span>2022 <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>Crediti <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>ommerciali, <span class=\"_ _11\"></span>pari <span class=\"_ _20\"></span>a <span class=\"_ _11\"></span>11<span class=\"_ _1\"></span>8.470 <span class=\"_ _11\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _20\"></span>(126.369 <span class=\"_ _11\"></span>migl<span class=\"_ _1\"></span>iaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>uro <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>3<span class=\"_ _1\"></span>1<span class=\"_ _26a\"> </span> dicembre 2021), i<span class=\"_ _3\"></span>ncludono<span class=\"_ _1\"></span> 12.747 mi<span class=\"_ _3\"></span>gliaia di Euro <span class=\"_ _2\"></span>(9.<span class=\"_ _1\"></span>544 migliaia <span class=\"_ _3\"></span>di Euro <span class=\"_ _3\"></span>al 31 <span class=\"_ _3\"></span>dic<span class=\"_ _1\"></span>embre 2021) <span class=\"_ _3\"></span>scaduti da <span class=\"_ _3\"></span>pi\u00f9<span class=\"_ _26a\"> </span> di <span class=\"_ _2\"></span>3 <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>esi. <span class=\"_ _2\"></span>Ta<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>valore <span class=\"_ _3\"></span>risulta <span class=\"_ _3\"></span>essere <span class=\"_ _3\"></span>parzialmente <span class=\"_ _3\"></span>riscadenzato <span class=\"_ _3\"></span>mediante <span class=\"_ _3\"></span>piani <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>rientro <span class=\"_ _3\"></span>concordati <span class=\"_ _3\"></span>con <span class=\"_ _2\"></span>i <span class=\"_ _3\"></span>clienti. <span class=\"_ _11\"></span> Il va<span class=\"_ _1\"></span>lore <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>crediti <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>pert<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>assicurazion<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>altre<span class=\"_ _1\"></span> gara<span class=\"_ _1\"></span>nzie <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _1\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _1\"></span>2022 <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>par<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span> 2<span class=\"_ _1\"></span>8.775 <span class=\"_ _1\"></span>miglia<span class=\"_ _1\"></span>ia<span class=\"_ _26a\"> </span> di Euro (32.109 mig<span class=\"_ _1\"></span>liaia di Euro al <span class=\"_ _1\"></span>31 dicembre 2021).<span class=\"_ _8\"></span> Al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _8\"></span>2022 <span class=\"_ _8\"></span>i <span class=\"_ _1\"></span>pri<span class=\"_ _1\"></span>mi <span class=\"_ _1\"></span>10<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>lienti <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>appresentano <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>12,8% <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>totale <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>crediti <span class=\"_ _8\"></span>commerciali <span class=\"_ _8\"></span>(11,9% <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>31<span class=\"_ _26a\"> </span> dicembre 2021), <span class=\"_ _1\"></span>mentre il primo cliente ra<span class=\"_ _1\"></span>ppresenta il 4,6% d<span class=\"_ _1\"></span>el totale (2,4% al <span class=\"_ _1\"></span>31 dicembre 2021).<span class=\"_ _8\"></span> (c) Rischio di liquidit<span class=\"_ _1\"></span>\u00e0<span class=\"_ _26a\"> </span> Il <span class=\"_ _1e\"> </span>rischio <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>liquidit\u00e0 <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>pu\u00f2 <span class=\"_ _1e\"> </span>manifestare <span class=\"_ _1e\"> </span>con  l<span class=\"_ _3\"></span>\u2019incapacit\u00e0 <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>reperire, <span class=\"_ _1e\"> </span>a <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>ondizioni <span class=\"_ _1e\"> </span>economiche, <span class=\"_ _1e\"> </span>le <span class=\"_ _1e\"> </span>risors<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> finanziarie <span class=\"ff5\">neces<span class=\"_ _1\"></span>sarie per l\u2019operat<span class=\"_ _1\"></span>ivit\u00e0 del Gruppo.<span class=\"_ _1\"></span></span> I pri<span class=\"_ _1\"></span>ncipali <span class=\"_ _1\"></span>fattori <span class=\"_ _1\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>determinano <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ituazione <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>iquidit\u00e0 <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>ono <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>parte l<span class=\"_ _1\"></span>e r<span class=\"_ _1\"></span>isorse <span class=\"_ _1\"></span>genera<span class=\"_ _1\"></span>te<span class=\"_ _26a\"> </span> o <span class=\"_ _8\"></span>assorbite <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>lle <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _11\"></span>operative <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>investime<span class=\"_ _1\"></span>nto, <span class=\"_ _8\"></span>dall\u2019altra <span class=\"_ _11\"></span>le <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>aratteristiche<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>scadenza <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>di<span class=\"_ _11\"></span><span class=\"ff2\"> <span class=\"_ _1\"></span>rin<span class=\"_ _1\"></span>novo <span class=\"_ _8\"></span>del<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>debito o di liquidit\u00e0 de<span class=\"_ _1\"></span>gli impieghi finanzi<span class=\"_ _1\"></span>ari e le condizi<span class=\"_ _1\"></span>oni di mercato.<span class=\"_ _8\"></span> Una prudente <span class=\"_ _3\"></span>gestione del rischio di <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>iquidit\u00e0 implica il <span class=\"_ _3\"></span>mantenimento<span class=\"_ _1\"></span> di <span class=\"_ _2\"></span>u<span class=\"_ _1\"></span>na <span class=\"_ _3\"></span>suffici<span class=\"_ _1\"></span>ente disponibilit\u00e0 finanziaria<span class=\"_ _26a\"> </span> di liquidit\u00e0 e titoli negoz<span class=\"_ _1\"></span>iabili, di finanzia<span class=\"_ _1\"></span>menti<span class=\"_ _1\"></span> attraverso un <span class=\"_ _1\"></span>adeguato ammont<span class=\"_ _1\"></span>are di fidi bancari. <span class=\"_ _8\"></span> Conseguentemente la<span class=\"_ _1\"></span> tesoreria del Gru<span class=\"_ _1\"></span>ppo pone in ess<span class=\"_ _1\"></span>ere le seguenti attivit\u00e0<span class=\"_ _1\"></span>:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>verifica dei<span class=\"_ _1\"></span> fabbisogni finanz<span class=\"_ _1\"></span>iari previsionali al fine<span class=\"_ _1\"></span> di porre in ess<span class=\"_ _1\"></span>ere le azioni cons<span class=\"_ _1\"></span>eguenti;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>ottenimento<span class=\"_ _1\"></span> di adeguate lin<span class=\"_ _1\"></span>ee di cred<span class=\"_ _1\"></span>ito; </span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>ottimizzazio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>della <span class=\"_ _8\"></span>liquidit\u00e0, <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ove <span class=\"_ _1\"></span>fatt<span class=\"_ _1\"></span>ibile, <span class=\"_ _1\"></span>tramit<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>strutture<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>g<span class=\"_ _1\"></span>estione <span class=\"_ _8\"></span>centralizzata <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _1\"></span>fluss<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>finanziar<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>del Gruppo;<span class=\"_ _26a\"> </span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>mantenime<span class=\"_ _1\"></span>nto di un adegu<span class=\"_ _1\"></span>ato livello di liquid<span class=\"_ _1\"></span>it\u00e0 disponibile;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span><span class=\"ff5\">mantenime<span class=\"_ _1\"></span>nto <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>un\u2019equilibr<span class=\"_ _1\"></span>ata <span class=\"_ _2\"></span>compos<span class=\"_ _1\"></span>izione <span class=\"_ _2\"></span>dell\u2019inde<span class=\"_ _1\"></span><span class=\"ff2\">bitament<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>finanziario <span class=\"_ _2\"></span>netto <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ispetto <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>gli <span class=\"_ _2\"></span>investimenti<span class=\"_ _26a\"> </span></span></span></span><span class=\"ff2\"><span class=\"ff5\"><span class=\"ff2\"> </span></span></span>effettuati;  -<span class=\"ff2\"> <span class=\"_ _11\"></span>perseguime<span class=\"_ _1\"></span>nto di un corrett<span class=\"_ _1\"></span>o equilibrio tra inde<span class=\"_ _1\"></span>bitamento a <span class=\"_ _1\"></span>breve e medio lu<span class=\"_ _1\"></span>ngo termine;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>limitata es<span class=\"_ _1\"></span>posizione al credito v<span class=\"_ _1\"></span>erso un singolo ist<span class=\"_ _1\"></span>ituto finanziario;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>il monitora<span class=\"_ _1\"></span>ggio del rispetto<span class=\"_ _1\"></span> dei parametri<span class=\"_ _1\"></span> previsti dai <span class=\"ff7\">c<span class=\"_ _1\"></span>ovenants</span> re<span class=\"_ _1\"></span>lativi ai finanziament<span class=\"_ _1\"></span>i.  </span><span class=\"ff2\"> </span>Le <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>ontroparti <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>ontratti <span class=\"_ _23\"> </span>derivati <span class=\"_ _23\"> </span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>operazioni <span class=\"_ _23\"></span>eseguite <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ulle <span class=\"_ _23\"></span>disponibilit\u00e0 <span class=\"_ _23\"> </span>sono <span class=\"_ _23\"></span>istituzioni <span class=\"_ _23\"></span>finanziarie<span class=\"_ _26a\"> </span> qualificate.<span class=\"_ _26a\"> </span> Le <span class=\"_ _11\"></span>caratteristiche <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>natura <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>scadenza <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>deb<span class=\"_ _1\"></span>iti <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>delle <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _11\"></span>finanziarie <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>riportate <span class=\"_ _11\"></span>nelle<span class=\"_ _1\"></span> Note 26 e 30 relative ris<span class=\"_ _1\"></span>pettivamente <span class=\"_ _1\"></span>alle Disponibilit\u00e0 l<span class=\"_ _1\"></span>iquide ed alle Passivit\u00e0 f<span class=\"_ _1\"></span>inanziarie.<span class=\"_ _8\"></span> Il <span class=\"ff7\">M<span class=\"_ _1\"></span>anagement</span> <span class=\"_ _1\"></span>rit<span class=\"_ _1\"></span>iene c<span class=\"_ _1\"></span>he <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>linee <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>credito <span class=\"_ _1\"></span>attua<span class=\"_ _1\"></span>lmente <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>uti<span class=\"_ _1\"></span>lizzate <span class=\"_ _1\"></span>pari <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>1<span class=\"_ _1\"></span><span class=\"ls31\">63</span> <span class=\"_ _1\"></span>milioni<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> E<span class=\"_ _1\"></span>uro <span class=\"_ _1\"></span>contr<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>i 1<span class=\"_ _1\"></span>42<span class=\"_ _26a\"> </span> milioni <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _1\"></span>dell\u2019eserc<span class=\"_ _1\"></span>izio <span class=\"_ _1\"></span>precedente<span class=\"_ _1\"></span>, <span class=\"_ _1\"></span>principalmen<span class=\"_ _1\"></span>te <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>breve <span class=\"_ _8\"></span>termine <span class=\"_ _8\"></span>e <span class=\"_ _1\"></span>garantite <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ai <span class=\"_ _1\"></span>Crediti <span class=\"_ _1\"></span>C<span class=\"_ _1\"></span>ommercia<span class=\"_ _1\"></span>li,<span class=\"_ _26a\"> </span> oltre <span class=\"_ _23\"> </span>ai <span class=\"_ _23\"> </span>flussi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>cass<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>che <span class=\"_ _23\"> </span>saranno <span class=\"_ _21\"> </span>generati <span class=\"_ _23\"> </span>dall\u2019attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>esercizio <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>finanziamento, <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>nsentiranno <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span> Gruppo di soddisfare i fabbisogni derivanti dalle attivit\u00e0 di investimento, di gestione del capitale circolante e di<span class=\"_ _26a\"> </span> rimborso dei debiti a<span class=\"_ _1\"></span>lla loro naturale scad<span class=\"_ _1\"></span>enza.<span class=\"ff3 fs3\"> <span class=\"_ _1\"></span> </span>4.2 Contabilizzazione d<span class=\"_ _1\"></span>egli strumenti finanzi<span class=\"_ _1\"></span>ari derivati e <span class=\"_ _1\"></span>attivit\u00e0 di copertur<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>strumenti <span class=\"_ _8\"></span>fi<span class=\"_ _1\"></span>nanziari <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span><span class=\"ff5\">eriv<span class=\"_ _1\"></span>ati <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>util<span class=\"_ _1\"></span>izzati <span class=\"_ _8\"></span>solamen<span class=\"_ _1\"></span>te <span class=\"_ _8\"></span>con <span class=\"_ _11\"></span>l\u2019intento <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>copertur<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>f<span class=\"_ _1\"></span>ine <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>rid<span class=\"_ _1\"></span>urre <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>risch<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>fluttuazione <span class=\"_ _11\"></span>delle <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alute <span class=\"_ _11\"></span>estere <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _8\"></span>tassi <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>interesse. <span class=\"_ _11\"></span>Coerentemen<span class=\"_ _1\"></span>te <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span>la <span class=\"_ _8\"></span>gestione <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>rischi <span class=\"_ _11\"></span>prescelta,<span class=\"_ _26a\"> </span> infatti, il Gruppo non p<span class=\"_ _1\"></span>one in essere operaz<span class=\"_ _1\"></span>ioni su d<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>vati a scopi speculativi.<span class=\"_ _1\"></span> Nel <span class=\"_ _3\"></span>caso in <span class=\"_ _3\"></span>cui tuttavia <span class=\"_ _3\"></span>tali operazioni non <span class=\"_ _2\"></span>siano contabilmente qualificabili come <span class=\"_ _3\"></span>operazioni di <span class=\"_ _3\"></span>copertura, esse<span class=\"_ _26a\"> </span> sono <span class=\"_ _20\"></span>registrate <span class=\"_ _20\"> </span>co<span class=\"_ _1\"></span>me <span class=\"_ _20\"></span>operaz<span class=\"_ _1\"></span>ioni <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>trading. <span class=\"_ _20\"> </span>Co<span class=\"_ _1\"></span>erentement<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>quanto <span class=\"_ _20\"> </span>s<span class=\"_ _1\"></span>tabilito <span class=\"_ _20\"> </span>dal<span class=\"_ _1\"></span>l\u2019 <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"> </span>9, <span class=\"_ _20\"> </span>g<span class=\"_ _1\"></span>li <span class=\"_ _20\"></span>strumenti<span class=\"_ _26a\"> </span> finanz<span class=\"ff5\">iari <span class=\"_ _23\"> </span>deriv<span class=\"_ _1\"></span>ati <span class=\"_ _23\"> </span>possono <span class=\"_ _21\"> </span>essere <span class=\"_ _23\"> </span>contab<span class=\"_ _1\"></span>ilizzati <span class=\"_ _23\"> </span>seco<span class=\"_ _1\"></span>ndo <span class=\"_ _23\"> </span>le <span class=\"_ _23\"> </span>moda<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _23\"> </span>stabilite <span class=\"_ _23\"> </span>per <span class=\"_ _21\"> </span>l\u2019<span class=\"_ _1\"></span><span class=\"ff7\">he<span class=\"_ _1\"></span>dge <span class=\"_ _23\"> </span>accounting<span class=\"_ _1\"></span></span></span> <span class=\"_ _23\"> </span>solo<span class=\"_ _1\"></span> quando le condizioni pr<span class=\"_ _1\"></span>eviste dal principio<span class=\"_ _1\"></span> sono soddisfatte.<span class=\"_ _8\"></span> Gli <span class=\"_ _2\"></span>stru<span class=\"_ _1\"></span>menti <span class=\"_ _3\"></span>derivati <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _3\"></span>inizialmente <span class=\"_ _3\"></span>rilevati <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>ad<span class=\"_ _1\"></span>eguati <span class=\"_ _3\"></span>al <span class=\"ff7\">fair <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lue<span class=\"ff2\"> <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>lle <span class=\"_ _3\"></span>success<span class=\"_ _1\"></span>ive <span class=\"_ _2\"></span>date <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>chiusura.<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff2\"> </span></span>Sulla base di quanto <span class=\"_ _1\"></span>detto sopra e dei c<span class=\"_ _1\"></span>ontratti stipulati, i met<span class=\"_ _1\"></span>odi di contabilizz<span class=\"_ _1\"></span>azione adottati sono:<span class=\"_ _11\"></span> 1. <span class=\"_ _1\"></span><span class=\"ff7 ls1\">Fair <span class=\"_ _1\"></span>value<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _1\"></span></span>hedge<span class=\"ff2\">:<span class=\"_ _1\"></span> le <span class=\"_ _1\"></span>vari<span class=\"_ _1\"></span>azioni <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span></span>fair <span class=\"_ _1\"></span>value<span class=\"ff2\"> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ello <span class=\"_ _1\"></span>strumento <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>cop<span class=\"_ _1\"></span>ertura <span class=\"_ _1\"></span>sono <span class=\"_ _8\"></span>imputate <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>cont<span class=\"_ _1\"></span>o eco<span class=\"_ _1\"></span>nomico<span class=\"_ _26a\"> </span></span></span><span class=\"ff7 ls1\"><span class=\"ff2\"> </span></span>assieme alle var<span class=\"_ _1\"></span>iazioni di <span class=\"ff7\">fair v<span class=\"_ _1\"></span>alue</span> delle trans<span class=\"_ _1\"></span>azioni oggetto de<span class=\"_ _1\"></span>lla copertura.<span class=\"_ _1\"></span> 2. <span class=\"ff7 ls1\">Cash f<span class=\"_ _1\"></span>low hedge<span class=\"ff2\">: l<span class=\"_ _1\"></span>e variazioni nel <span class=\"_ _1\"></span></span>fair value<span class=\"_ _1\"></span><span class=\"ff2\"> degli st<span class=\"_ _1\"></span>rumenti efficaci ai f<span class=\"_ _1\"></span>ini della <span class=\"_ _1\"></span>copertura dei fluss<span class=\"_ _1\"></span>i di cassa<span class=\"_ _26a\"> </span></span></span><span class=\"ff7 ls1\"><span class=\"ff2\"> </span></span>futuri <span class=\"_ _28\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _29\"> </span>rilevate <span class=\"_ _29\"> </span>n<span class=\"_ _1\"></span>el <span class=\"_ _29\"> </span>conto <span class=\"_ _29\"> </span>economico <span class=\"_ _29\"> </span>c<span class=\"_ _1\"></span>omples<span class=\"_ _1\"></span>sivo, <span class=\"_ _29\"> </span>mentre <span class=\"_ _29\"> </span>la <span class=\"_ _29\"> </span>porzion<span class=\"_ _8\"></span>e <span class=\"_ _29\"> </span>ineff<span class=\"_ _1\"></span>icace <span class=\"_ _29\"> </span>viene <span class=\"_ _29\"> </span>isc<span class=\"_ _1\"></span>ritta<span class=\"_ _26a\"> </span> immediatamente nel <span class=\"_ _3\"></span>conto economico. Se <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _3\"></span>impegn<span class=\"_ _1\"></span>i contrattuali <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>le operazioni previste <span class=\"_ _3\"></span>oggetto di <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>pertura<span class=\"_ _26a\"> </span> si concretizzano nel<span class=\"_ _1\"></span>la rilevazione d<span class=\"_ _1\"></span>i attivit\u00e0 o p<span class=\"_ _1\"></span>assivit\u00e0, nel mo<span class=\"_ _1\"></span>mento in cui<span class=\"_ _1\"></span> le attivit\u00e0 o le<span class=\"_ _1\"></span> passivit\u00e0 rilev<span class=\"_ _1\"></span>ate, gl<span class=\"_ _8\"></span><span class=\"ls2e\">i<span class=\"_ _26a\"> </span></span><span class=\"ls2e\"> </span>utili o <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>perdite <span class=\"_ _1\"></span>sul <span class=\"_ _1\"></span>derivato<span class=\"_ _1\"></span>, c<span class=\"_ _1\"></span>he sono <span class=\"_ _1\"></span>state <span class=\"_ _1\"></span>rilev<span class=\"_ _1\"></span>ate d<span class=\"_ _1\"></span>irettamente <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>conto <span class=\"_ _1\"></span>economico <span class=\"_ _1\"></span>com<span class=\"_ _1\"></span>plessivo, <span class=\"_ _1\"></span>vanno <span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span> rettificare <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lutazione <span class=\"_ _1\"></span>iniz<span class=\"_ _1\"></span>iale <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>caric<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>assivit\u00e0.<span class=\"_ _1\"></span> Per l<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>operture <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>fluss<span class=\"_ _1\"></span>i fin<span class=\"_ _1\"></span>anziari <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>concretiz<span class=\"_ _1\"></span>zano ne<span class=\"_ _1\"></span>lla r<span class=\"_ _1\"></span>ilevazione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>passivi<span class=\"_ _1\"></span>t\u00e0, g<span class=\"_ _1\"></span>li i<span class=\"_ _1\"></span>mporti<span class=\"_ _26a\"> </span> che sono stati r<span class=\"_ _1\"></span>ilevati direttamen<span class=\"_ _1\"></span>te nel conto <span class=\"_ _1\"></span>economico com<span class=\"_ _1\"></span>plessivo verr<span class=\"_ _1\"></span>anno girati a co<span class=\"_ _1\"></span>nto econom<span class=\"_ _1\"></span>ico nello<span class=\"_ _26a\"> </span> stesso <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>cui <span class=\"_ _11\"></span>l\u2019imp<span class=\"_ _1\"></span>egno <span class=\"_ _11\"></span>contrattuale <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>l\u2019oper<span class=\"_ _8\"></span><span class=\"ff2\">azione <span class=\"_ _11\"></span>prevista <span class=\"_ _11\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura <span class=\"_ _11\"></span>verra<span class=\"_ _1\"></span>nno <span class=\"_ _11\"></span>rilevati <span class=\"_ _11\"></span>a<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>conto economico.<span class=\"_ _1\"></span> 3. Strumenti finanz<span class=\"_ _1\"></span>iari deriv<span class=\"_ _1\"></span>ati non qualificati<span class=\"_ _1\"></span> come di c<span class=\"_ _1\"></span>opertura: le var<span class=\"_ _1\"></span>iazioni di <span class=\"_ _8\"></span><span class=\"ff7\">fair value<span class=\"_ _1\"></span></span> vengono imp<span class=\"_ _1\"></span>utate a<span class=\"_ _26a\"> </span>conto economico.<span class=\"_ _1\"></span> Il <span class=\"_ _8\"></span>met<span class=\"_ _1\"></span>odo <span class=\"_ _11\"></span>contabile <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _11\"></span>copertura <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>ab<span class=\"_ _1\"></span>bandonato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>quando <span class=\"_ _11\"></span>lo <span class=\"_ _8\"></span>strumen<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>copertura <span class=\"_ _8\"></span>gi<span class=\"_ _1\"></span>unge <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>scade<span class=\"_ _1\"></span>nza, <span class=\"_ _11\"></span>\u00e8<span class=\"_ _26a\"> </span>venduto, <span class=\"_ _20\"></span>ter<span class=\"_ _1\"></span>mina, <span class=\"_ _20\"></span>o <span class=\"_ _23\"></span>viene <span class=\"_ _23\"></span>esercitato, <span class=\"_ _23\"></span>oppure <span class=\"_ _20\"></span>non <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _20\"></span>qualificato <span class=\"_ _23\"></span>come <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>cop<span class=\"_ _1\"></span>ertura. <span class=\"_ _20\"></span>Gl<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>utili <span class=\"_ _23\"></span>o <span class=\"_ _20\"></span>le <span class=\"_ _23\"></span>perdite<span class=\"_ _26a\"> </span>accumulati <span class=\"_ _26\"> </span>dello <span class=\"_ _26\"> </span>str<span class=\"_ _1\"></span>umento <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>copert<span class=\"_ _1\"></span>ura, <span class=\"_ _26\"> </span>rilevati <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>irettamente <span class=\"_ _26\"> </span>ne<span class=\"_ _1\"></span>l <span class=\"_ _26\"> </span>conto <span class=\"_ _26\"> </span>economico <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>omplessi<span class=\"_ _8\"></span>vo, <span class=\"_ _26\"> </span>sono<span class=\"_ _1\"></span> mantenuti <span class=\"_ _2\"></span>fino <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>momento <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>cui <span class=\"_ _3\"></span>l\u2019operazione <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>ista <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>erifica <span class=\"_ _2\"></span>effett<span class=\"_ _1\"></span>ivamente. <span class=\"_ _2\"></span>Se <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>prevede <span class=\"_ _3\"></span>che <span class=\"_ _2\"></span>l\u2019operaz<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span>oggetto <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>copertura non <span class=\"_ _2\"></span>si verificher\u00e0, <span class=\"_ _2\"></span>gl<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>ut<span class=\"_ _1\"></span>ili <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>le <span class=\"_ _3\"></span>perdite accumulati <span class=\"_ _2\"></span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>direttamente nel <span class=\"_ _2\"></span>conto economico<span class=\"_ _26a\"> </span>complessivo sono<span class=\"_ _1\"></span> trasferiti nel conto <span class=\"_ _1\"></span>economico de<span class=\"_ _1\"></span>l periodo.<span class=\"_ _1\"></span> 4.3 Stima del valore <span class=\"_ _1\"></span>corrente<span class=\"_ _1\"></span> Il valore corrente d<span class=\"_ _1\"></span>egli strumenti finanz<span class=\"_ _1\"></span>iari quotati in merc<span class=\"_ _1\"></span>ati attivi (come i derivati<span class=\"_ _1\"></span> negoziati pubb<span class=\"_ _1\"></span>licamente e i<span class=\"_ _1\"></span> titoli <span class=\"_ _3\"></span>destinati <span class=\"_ _3\"></span>alla negoziazione <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>disponibili per <span class=\"_ _2\"></span>la vendita) \u00e8 <span class=\"_ _3\"></span>basato <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ul <span class=\"_ _3\"></span>prezzo di <span class=\"_ _2\"></span>merc<span class=\"_ _1\"></span>ato <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _3\"></span>data <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>bilanci<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span>Il <span class=\"_ _8\"></span>prezz<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>mercato <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>tilizzato <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _11\"></span>finanziarie <span class=\"_ _11\"></span>detenute <span class=\"_ _11\"></span>dal <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>prezz<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>denaro; <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>prez<span class=\"_ _1\"></span>zo <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>mercato per le pass<span class=\"_ _1\"></span>ivit\u00e0 finanziarie \u00e8 i<span class=\"_ _1\"></span>l prezzo lettera.<span class=\"_ _1\"></span> Il <span class=\"_ _3\"></span>valore corrente degli <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>trumenti finanziari non <span class=\"_ _3\"></span>quotati in <span class=\"_ _2\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _3\"></span>mercato attivo <span class=\"_ _3\"></span>(per esempio, i <span class=\"_ _2\"></span>der<span class=\"_ _1\"></span>ivati quotati <span class=\"_ _3\"></span>fuori<span class=\"_ _26a\"> </span>borsa) \u00e8 <span class=\"_ _2\"></span>det<span class=\"_ _1\"></span>erminato utilizzando tecni<span class=\"_ _3\"></span>che di valutazione. <span class=\"_ _3\"></span>Il Gruppo <span class=\"_ _3\"></span>utilizza diversi metodi <span class=\"_ _2\"></span>e formula ipotesi <span class=\"_ _3\"></span>che<span class=\"_ _26a\"> </span>sono basate sul<span class=\"_ _1\"></span>le condizioni di merc<span class=\"_ _1\"></span>ato esistent<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>lla data di b<span class=\"_ _1\"></span>ilancio. Per i d<span class=\"_ _1\"></span>ebiti a medi<span class=\"_ _1\"></span>o-<span class=\"_ _1\"></span>lungo termine son<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>utilizzate le <span class=\"_ _3\"></span>quotazioni di <span class=\"_ _3\"></span>mercato o i <span class=\"_ _3\"></span>prezzi di <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>egoziaz<span class=\"_ _1\"></span>ione <span class=\"_ _3\"></span>per gli <span class=\"_ _3\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>specifici o <span class=\"_ _3\"></span>similari<span class=\"_ _1\"></span>. <span class=\"_ _3\"></span>Altre tecniche,<span class=\"_ _26a\"> </span>come ad ese<span class=\"_ _1\"></span>mpio la sti<span class=\"_ _1\"></span>ma del val<span class=\"_ _1\"></span>ore attuale <span class=\"_ _1\"></span>dei futuri <span class=\"_ _1\"></span>flussi di cass<span class=\"_ _1\"></span>a, so<span class=\"_ _1\"></span>no <span class=\"_ _1\"></span>utilizzate per <span class=\"_ _1\"></span>determinare <span class=\"_ _1\"></span>il valore<span class=\"_ _1\"></span> corrente deg<span class=\"_ _1\"></span>li altri <span class=\"_ _1\"></span>strumenti <span class=\"_ _1\"></span>finanziari. <span class=\"_ _1\"></span>Il val<span class=\"_ _1\"></span>ore corrent<span class=\"_ _1\"></span>e dei co<span class=\"_ _1\"></span>ntratti a<span class=\"_ _1\"></span> termin<span class=\"_ _1\"></span>e in <span class=\"_ _1\"></span>valuta es<span class=\"_ _1\"></span>tera \u00e8 <span class=\"_ _1\"></span>determi<span class=\"_ _1\"></span>nato<span class=\"_ _26a\"> </span>utilizzando i tassi di ca<span class=\"_ _1\"></span>mbio a termine prev<span class=\"_ _1\"></span>isti alla data <span class=\"_ _1\"></span>di bilancio.<span class=\"_ _8\"></span> Si ipotizza<span class=\"_ _1\"></span> che <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>nominale, <span class=\"_ _1\"></span>meno <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>stima d<span class=\"_ _1\"></span>ei cred<span class=\"_ _1\"></span>iti dubb<span class=\"_ _1\"></span>i, approssi<span class=\"_ _1\"></span>mi il<span class=\"_ _1\"></span> valore <span class=\"_ _1\"></span>corrente <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>crediti <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>dei debiti commerciali. Ai fini delle prese<span class=\"_ _1\"></span>nti note, il valore c<span class=\"_ _1\"></span>orrente delle passivit\u00e0 finanz<span class=\"_ _1\"></span>iarie \u00e8 stimato in bas<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>all\u2019attualizzazione dei futuri flussi di ca<span class=\"ff2\">ssa contrattuali al tasso di interesse di mercato corrente disponibile per<span class=\"_ _26a\"> </span></span>il Gruppo per strument<span class=\"_ _1\"></span>i finanziari simili.<span class=\"_ _8\"></span> 5. Giudizi e stime contabil<span class=\"_ _1\"></span>i significativi<span class=\"_ _1\"></span> La <span class=\"_ _1\"></span>redazione <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>bilanc<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>consolidato <span class=\"_ _8\"></span>e <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>relative <span class=\"_ _8\"></span>note <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>applicaz<span class=\"_ _1\"></span>ione <span class=\"_ _1\"></span>degli <span class=\"_ _1\"></span>IF<span class=\"_ _1\"></span>RS <span class=\"_ _1\"></span>richi<span class=\"_ _8\"></span>e<span class=\"_ _1\"></span>de, <span class=\"_ _1\"></span>da <span class=\"_ _8\"></span>parte <span class=\"_ _1\"></span>degl<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>Amministratori, l<span class=\"_ _3\"></span>\u2019effettuazio<span class=\"_ _1\"></span>ne <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>st<span class=\"_ _1\"></span>ime <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>assunzion<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _2\"></span>h<span class=\"_ _1\"></span>anno <span class=\"_ _3\"></span>effetto <span class=\"_ _2\"></span>su<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lori <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>elle <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>ttivit\u00e0 <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span>di <span class=\"_ _2\"></span>bilancio <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>sul<span class=\"_ _1\"></span>l\u2019informativa <span class=\"_ _3\"></span>relativa <span class=\"_ _2\"></span>ad <span class=\"_ _2\"></span>attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>passivit\u00e0 <span class=\"_ _2\"></span>pote<span class=\"_ _1\"></span>nziali <span class=\"_ _2\"></span>alla <span class=\"_ _2\"></span>data <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>chiusura <span class=\"_ _3\"></span>dell\u2019esercizio. <span class=\"_ _2\"></span>I <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span><span class=\"ff2\">sultati<span class=\"_ _1\"></span> </span>a <span class=\"_ _11\"></span>consuntivo<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>potrebb<span class=\"_ _1\"></span>ero <span class=\"_ _11\"></span>differire <span class=\"_ _20\"></span>da <span class=\"_ _20\"></span>tali <span class=\"_ _11\"></span>stime. <span class=\"_ _20\"></span>Le <span class=\"_ _11\"></span>st<span class=\"_ _1\"></span>ime <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>uti<span class=\"_ _1\"></span>lizzate <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>rilevare <span class=\"_ _20\"></span>gli <span class=\"_ _11\"></span>ac<span class=\"_ _1\"></span>cantonamenti <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _26a\"> </span>rischi su <span class=\"_ _1\"></span>crediti, <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>obsolescenza <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>magazzino, <span class=\"_ _1\"></span>ammortame<span class=\"_ _1\"></span>nti, sval<span class=\"_ _1\"></span>utazioni <span class=\"_ _1\"></span>di at<span class=\"_ _1\"></span>tivo, altr<span class=\"_ _1\"></span>i acc<span class=\"_ _1\"></span>antonamenti <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>fondi, <span class=\"_ _8\"></span>pas<span class=\"_ _1\"></span>sivit\u00e0 <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span><span class=\"ff7\">lease</span> <span class=\"_ _8\"></span><span class=\"ff5\">e <span class=\"_ _11\"></span>diritto <span class=\"_ _8\"></span>d\u2019uso.<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Le <span class=\"_ _11\"></span>stime <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>assunzioni <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iviste <span class=\"_ _11\"></span>periodicamente <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>gli <span class=\"_ _11\"></span>effetti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span>ogni variazione sono<span class=\"_ _1\"></span> riflessi immediata<span class=\"_ _1\"></span>mente a conto econom<span class=\"_ _1\"></span>ico.<span class=\"_ _1\"></span> La <span class=\"_ _1\"></span>valutazione <span class=\"_ _1\"></span>che <span class=\"_ _8\"></span>l\u2019avviament<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>sia <span class=\"_ _1\"></span>iscritto <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>bilancio <span class=\"_ _8\"></span>per <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>uperiore <span class=\"_ _8\"></span>al l<span class=\"_ _1\"></span>oro <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>recu<span class=\"_ _1\"></span>perabile<span class=\"_ _26a\"> </span>(cd. <span class=\"_ _11\"></span><span class=\"ff7\">Impairmen<span class=\"_ _1\"></span>t <span class=\"_ _11\"></span>test</span>) <span class=\"_ _20\"></span>prevede, <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>prima <span class=\"_ _11\"></span>battuta<span class=\"_ _1\"></span>, <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>testare <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>tenuta <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>valore <span class=\"_ _20\"></span>degli <span class=\"_ _11\"></span>avviament<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>suddivisi <span class=\"_ _20\"></span>in<span class=\"_ _26a\"> </span>Cash Generating <span class=\"_ _3\"></span>Unit (CGU). Il <span class=\"_ _3\"></span>ca<span class=\"_ _1\"></span>lcolo del <span class=\"_ _3\"></span>valore recuperabile \u00e8 effettuato <span class=\"_ _3\"></span>in conformit\u00e0 ai <span class=\"_ _2\"></span>cr<span class=\"_ _1\"></span>iteri previsti dallo<span class=\"_ _26a\"> </span>IAS <span class=\"_ _1\"></span>36<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>iene <span class=\"_ _8\"></span>determinato<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>ll\u2019accezione <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>d\u2019uso <span class=\"_ _8\"></span>mediant<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>ttualizzazione <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cassa <span class=\"_ _8\"></span>attesi<span class=\"_ _26a\"> </span>dall\u2019utilizzo <span class=\"_ _1\"></span>del b<span class=\"_ _1\"></span>ene o <span class=\"_ _8\"></span>di una <span class=\"_ _1\"></span>CGU <span class=\"_ _1\"></span>nonch\u00e9 <span class=\"_ _1\"></span>dal <span class=\"_ _1\"></span>valore <span class=\"_ _8\"></span>che c<span class=\"_ _1\"></span>i si<span class=\"_ _8\"></span><span class=\"ff2\"> <span class=\"_ _1\"></span>attende <span class=\"_ _1\"></span>dalla s<span class=\"_ _1\"></span>ua <span class=\"_ _1\"></span>dismissione <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>termine <span class=\"_ _1\"></span>della<span class=\"_ _1\"></span> </span>sua v<span class=\"_ _1\"></span>ita <span class=\"_ _1\"></span>utile. <span class=\"_ _1\"></span>Qu<span class=\"_ _1\"></span>esto <span class=\"_ _1\"></span>proces<span class=\"_ _1\"></span>so <span class=\"_ _1\"></span>comporta <span class=\"_ _1\"></span>l\u2019utilizzo<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i s<span class=\"_ _1\"></span>time <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>assunzioni <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>deter<span class=\"_ _1\"></span>minare <span class=\"_ _1\"></span>sia<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>\u2019ammontare <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>flussi di cassa <span class=\"_ _1\"></span>futuri s<span class=\"_ _1\"></span>ia i corr<span class=\"_ _1\"></span>ispettivi tassi di<span class=\"_ _1\"></span> attualizzaz<span class=\"_ _1\"></span>ione. I flussi di<span class=\"_ _1\"></span> cassa futur<span class=\"_ _1\"></span>i sono<span class=\"_ _11\"></span> basati sui pi\u00f9 rece<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>piani <span class=\"_ _26\"> </span>economico<span class=\"_ _1\"></span>-finanziar<span class=\"_ _1\"></span>i <span class=\"_ _26\"> </span>elaborati <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>al <span class=\"_ _27\"> </span><span class=\"ff7\">Manageme<span class=\"_ _1\"></span>nt <span class=\"_ _26\"> </span></span>di <span class=\"_ _26\"> </span>ciasc<span class=\"_ _1\"></span>una <span class=\"_ _26\"> </span>CGU, <span class=\"_ _27\"> </span>ed <span class=\"_ _26\"> </span>approvat<span class=\"_ _1\"></span>i <span class=\"_ _26\"> </span>dal <span class=\"_ _27\"> </span>Consiglio <span class=\"_ _26\"> </span>di<span class=\"_ _1\"></span> Amministrazione. In riferimento ai business in cui l\u2019azienda opera, i fattori che <span class=\"_ _3\"></span>hanno maggiore rilevanza<span class=\"_ _1\"></span> nelle<span class=\"_ _26a\"> </span>stime dei flussi di cassa futuri sono ri<span class=\"_ _3\"></span>conduci<span class=\"_ _1\"></span>bili alla difficolt\u00e0 intrinseca della formulazione di previsioni future,<span class=\"_ _26a\"> </span>alla <span class=\"_ _26\"> </span>realizzabi<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _26\"> </span>di <span class=\"_ _27\"> </span>strategie <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _26\"> </span>mercato<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>in <span class=\"_ _26\"> </span>co<span class=\"_ _1\"></span>ntesti <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>ltamente <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>ompetitivi, <span class=\"_ _27\"> </span>nonch\u00e9 <span class=\"_ _27\"> </span>ai <span class=\"_ _26\"> </span>risch<span class=\"_ _1\"></span>i <span class=\"_ _26\"> </span>di <span class=\"_ _27\"> </span>natura<span class=\"_ _26a\"> </span>macroeconomica  e <span class=\"_ _1e\"> </span>geo-<span class=\"_ _1\"></span>politica  connessi <span class=\"_ _1e\"> </span>alle  aree <span class=\"_ _1f\"> </span>geogr<span class=\"_ _1\"></span>afiche  i<span class=\"_ _3\"></span>n <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>ui  opera <span class=\"_ _1e\"> </span>il  Gruppo <span class=\"_ _1e\"> </span>Emak<span class=\"_ _1\"></span>. <span class=\"_ _1e\"> </span>I  tassi <span class=\"_ _1e\"> </span>di<span class=\"_ _26a\"> </span>attualizzazione r<span class=\"_ _1\"></span>iflettono il <span class=\"_ _1\"></span>costo <span class=\"_ _1\"></span>del denaro <span class=\"_ _1\"></span>per i<span class=\"_ _1\"></span>l periodo <span class=\"_ _1\"></span>oggetto d<span class=\"_ _1\"></span>i previsione <span class=\"_ _1\"></span>e i <span class=\"_ _1\"></span>rischi specif<span class=\"_ _1\"></span>ici delle att<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span>e dei Paesi in cui il Gru<span class=\"_ _1\"></span>ppo opera e s<span class=\"_ _1\"></span>ono basati su dat<span class=\"_ _1\"></span>i osservabili nei merc<span class=\"_ _1\"></span>ati fina<span class=\"_ _8\"></span>nziari.<span class=\"ff4\"> </span>In <span class=\"_ _20\"></span>tal<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>ambito <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>segnala <span class=\"_ _23\"></span>che <span class=\"_ _20\"></span>la <span class=\"_ _23\"></span>situazione <span class=\"_ _23\"></span>causata <span class=\"_ _23\"> </span>dalle <span class=\"_ _23\"></span>perduranti <span class=\"_ _23\"></span>incertezze<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>del <span class=\"_ _20\"></span>contesto <span class=\"_ _23\"> </span>economico <span class=\"_ _23\"> </span>e<span class=\"_ _26a\"> </span>finanziario <span class=\"_ _1\"></span>conse<span class=\"_ _1\"></span>guenti <span class=\"_ _1\"></span>dapprima <span class=\"_ _8\"></span>alla <span class=\"_ _1\"></span>diffus<span class=\"_ _1\"></span>ione <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>andemia <span class=\"_ _1\"></span>Covi<span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>-19 <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>condo <span class=\"_ _1\"></span>luogo <span class=\"_ _8\"></span>dallo <span class=\"_ _1\"></span>scoppio<span class=\"_ _1\"></span> del <span class=\"_ _11\"></span>conflitto <span class=\"_ _11\"></span>armato <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>Uc<span class=\"_ _1\"></span>raina, <span class=\"_ _11\"></span>ha<span class=\"_ _1\"></span> <span class=\"_ _11\"></span><span class=\"ff5\">comportato <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>necess<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>effettuare <span class=\"_ _11\"></span>assunzioni <span class=\"_ _11\"></span>riguardanti <span class=\"_ _11\"></span>l\u2019andamen<span class=\"_ _1\"></span>to<span class=\"_ _26a\"> </span></span>futuro caratterizzate da volatilit\u00e0 ed imprevedibilit\u00e0, per cui non <span class=\"_ _3\"></span>si pu\u00f2 escludere il concretizzarsi, nel futuro, <span class=\"_ _3\"></span>di<span class=\"_ _26a\"> </span>risultati <span class=\"_ _3\"></span>divers<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>da quanto <span class=\"_ _3\"></span>stimato e che <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uindi potrebbero <span class=\"_ _3\"></span>ric<span class=\"_ _1\"></span>hiedere rettifiche, <span class=\"_ _3\"></span>ad oggi ovviamente <span class=\"_ _3\"></span>n\u00e9 <span class=\"_ _3\"></span>stimab<span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span>n\u00e9 prevedibili al valore co<span class=\"_ _1\"></span>ntabile delle r<span class=\"_ _1\"></span>elative poste.<span class=\"_ _1\"></span> L\u2019applicazione del pri<span class=\"_ _1\"></span>ncipio IFRS 16 rich<span class=\"_ _1\"></span>iede l\u2019effettuazione <span class=\"_ _1\"></span>di stime e di <span class=\"_ _1\"></span><span class=\"ff2\">ass<span class=\"_ _1\"></span>unzioni, tra cu<span class=\"_ _1\"></span>i la determinazion<span class=\"_ _26a\"> </span></span>della probabilit\u00e0 di eserc<span class=\"_ _1\"></span>izio d<span class=\"ff5\">e<span class=\"_ _1\"></span>ll\u2019opzione di estens<span class=\"_ _1\"></span>ione o cessazio<span class=\"_ _1\"></span>ne del contratto<span class=\"_ _26a\"> </span></span><span class=\"ff5\">.<span class=\"_ _8\"></span></span> 6. Informazioni settorial<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> L\u2019IFRS <span class=\"_ _1\"></span>8 <span class=\"_ _1\"></span>prevede <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>alcune voc<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>sia <span class=\"_ _1\"></span>data <span class=\"_ _1\"></span>un\u2019informat<span class=\"_ _1\"></span>iva <span class=\"_ _1\"></span>sulla <span class=\"_ _1\"></span>base <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>settori <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span>perativi <span class=\"_ _1\"></span>in c<span class=\"_ _1\"></span>ui<span class=\"_ _26a\"> </span>opera l\u2019azienda.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Un settore operativo<span class=\"_ _1\"></span> \u00e8 una componente d<span class=\"_ _1\"></span>i <span class=\"ff5\">u<span class=\"_ _1\"></span>n\u2019entit\u00e0:</span> a)<span class=\"ls1\">  che intraprende attivit\u00e0 imp<span class=\"_ _1\"></span>renditoriali generatr<span class=\"_ _1\"></span>ici di costi e ricavi<span class=\"_ _1\"></span>;<span class=\"_ _1\"></span> </span>b)<span class=\"ls1\">  i <span class=\"_ _27\"> </span>cui <span class=\"_ _27\"> </span>r<span class=\"_ _1\"></span>isultati <span class=\"_ _12\"> </span>operativi <span class=\"_ _27\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _27\"> </span>rivist<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>per<span class=\"_ _1\"></span>iodicamente <span class=\"_ _12\"> </span>al <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>alto <span class=\"_ _27\"> </span>l<span class=\"_ _1\"></span>ivello <span class=\"_ _12\"> </span>decisionale <span class=\"_ _27\"> </span>op<span class=\"_ _1\"></span>erativo <span class=\"_ _12\"> </span>ai <span class=\"_ _27\"> </span>fin<span class=\"_ _26a\"> </span></span>dell\u2019adozione di dec<span class=\"_ _1\"></span>isioni in merito a<span class=\"_ _1\"></span>lle risorse da alloc<span class=\"_ _1\"></span>are al set<span class=\"_ _1\"></span><span class=\"ff2\">tore e del<span class=\"_ _1\"></span>la valutazione de<span class=\"_ _1\"></span>i risultati; <span class=\"_ _1\"></span> </span>c)<span class=\"ls1\"> <span class=\"_ _26\"> </span>per la quale sono dispon<span class=\"_ _1\"></span>ibili informazioni di bi<span class=\"_ _1\"></span>lancio separate. <span class=\"_ _8\"></span> </span>L\u2019IFRS <span class=\"_ _23\"> </span>8 <span class=\"_ _20\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>fonda <span class=\"_ _20\"> </span>s<span class=\"_ _1\"></span>ul <span class=\"_ _23\"> </span>c.d. <span class=\"_ _23\"> </span>\u201c<span class=\"ff7\">Management <span class=\"_ _23\"> </span>appr<span class=\"_ _1\"></span>oach</span>\u201d, <span class=\"_ _23\"> </span>che <span class=\"_ _23\"> </span>prevede <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>enucleare <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>settori <span class=\"_ _23\"> </span>esclusivamente <span class=\"_ _23\"> </span>i<span class=\"_ _26a\"> </span>relazione <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>struttura <span class=\"_ _1\"></span>orga<span class=\"_ _1\"></span>nizzativa <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>eport<span class=\"_ _1\"></span>ing in<span class=\"_ _1\"></span>terno <span class=\"_ _1\"></span>utilizzato <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lutare <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span><span class=\"ff7\">performance<span class=\"_ _1\"></span></span> e <span class=\"_ _8\"></span>allocare <span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span>risorse. Alla <span class=\"_ _1\"></span>luce <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>tali <span class=\"_ _8\"></span>definizioni, <span class=\"_ _8\"></span>per <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _1\"></span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ettori <span class=\"_ _1\"></span>operat<span class=\"_ _1\"></span>ivi <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>ppresentati <span class=\"_ _8\"></span>da <span class=\"_ _1\"></span>tre <span class=\"_ _8\"></span>Divisioni/Bus<span class=\"_ _1\"></span>iness<span class=\"_ _26a\"> </span>Unit con i quali svilupp<span class=\"_ _1\"></span>a, produce e d<span class=\"_ _1\"></span>istribuisce la prop<span class=\"_ _1\"></span>ria gamma di pro<span class=\"_ _1\"></span>dotti: <span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff7\">Outdoor <span class=\"_ _23\"> </span>Po<span class=\"_ _1\"></span>wer <span class=\"_ _21\"> </span>Equipment<span class=\"_ _1\"></span></span> <span class=\"_ _23\"> </span>(<span class=\"ff5\">prodotti <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>giardinaggio, <span class=\"_ _21\"> </span>l\u2019at</span>t<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _23\"> </span>fores<span class=\"_ _1\"></span>tale <span class=\"_ _21\"> </span>e <span class=\"_ _23\"> </span>pic<span class=\"_ _1\"></span>cole <span class=\"_ _21\"> </span>macchine <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>l\u2019agricoltura<span class=\"ff2\">, qual<span class=\"_ _1\"></span>i decespugliator<span class=\"_ _1\"></span>i, rasaerba, trattorini, <span class=\"_ _1\"></span>motoseghe, motozap<span class=\"_ _1\"></span>pe e motocoltiv<span class=\"_ _1\"></span>atori);<span class=\"_ _8\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff7\">Pompe <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>High <span class=\"_ _8\"></span>Pressure <span class=\"_ _1\"></span>W<span class=\"_ _1\"></span>ater <span class=\"_ _1\"></span>Jetting<span class=\"_ _1\"></span></span> <span class=\"_ _1\"></span>(pompe <span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>membrana <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>estinate <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>settore <span class=\"_ _8\"></span>agricolo <span class=\"_ _8\"></span>-irroraz<span class=\"_ _1\"></span>ion<span class=\"_ _26a\"> </span></span>e <span class=\"_ _1\"></span>diserbo-, <span class=\"_ _8\"></span>pompe <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>pistoni<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>il c<span class=\"_ _1\"></span>omparto <span class=\"_ _8\"></span>industriale, <span class=\"_ _8\"></span>idropulitrici <span class=\"_ _1\"></span>pro<span class=\"_ _1\"></span>fessionali <span class=\"_ _8\"></span>e <span class=\"_ _1\"></span>semipro<span class=\"_ _1\"></span>fessionali<span class=\"_ _26a\"> </span>unit\u00e0 idrodinamiche e <span class=\"_ _1\"></span>macchine per l\u2019urba<span class=\"_ _1\"></span>n cleaninig);<span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff7\">Componenti <span class=\"_ _1\"></span>ed <span class=\"_ _8\"></span>Accessori<span class=\"_ _1\"></span></span> <span class=\"_ _1\"></span>(filo <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>testine <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>decespugliatori, <span class=\"_ _1\"></span>cavi <span class=\"_ _8\"></span>per <span class=\"_ _1\"></span>appl<span class=\"_ _1\"></span>icazioni <span class=\"_ _1\"></span>agrico<span class=\"_ _1\"></span>le, <span class=\"_ _1\"></span>accessori<span class=\"_ _26a\"> </span></span>per motoseghe, pisto<span class=\"_ _1\"></span>le, valvole ed u<span class=\"_ _1\"></span>gelli per idropu<span class=\"_ _1\"></span>litrici e per appl<span class=\"_ _1\"></span>icazioni agricol<span class=\"_ _1\"></span>e, precision farm<span class=\"_ _1\"></span>in<span class=\"_ _26a\"> </span>quali sensori e comp<span class=\"_ _1\"></span>uter, sedili e rica<span class=\"_ _1\"></span>mbi tecnici per tr<span class=\"_ _1\"></span>attori).<span class=\"_ _1\"></span> Gli <span class=\"_ _2\"></span>Ammin<span class=\"_ _1\"></span>istratori <span class=\"_ _2\"></span>osserv<span class=\"_ _1\"></span>ano <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>eparatamente <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>risult<span class=\"_ _1\"></span>ati <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>onseguiti <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>settore <span class=\"_ _3\"></span>di <span class=\"ff7\">business <span class=\"_ _3\"></span><span class=\"ff2 ls4\">al<span class=\"ls1\">lo <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>copo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>prender<span class=\"_ _26a\"> </span></span></span></span>decisioni in merito al<span class=\"_ _1\"></span>l\u2019allocazione delle r<span class=\"_ _1\"></span>isorse e alla ver<span class=\"_ _1\"></span>ifica della <span class=\"_ _1\"></span><span class=\"ff7\">perform<span class=\"_ _1\"></span>ance. <span class=\"_ _1\"></span> </span>La <span class=\"ff7 ls1\">performanc<span class=\"_ _1\"></span>e<span class=\"ff2\"> dei settori \u00e8 valu<span class=\"_ _1\"></span>tata sulla base del r<span class=\"_ _1\"></span>isultato che \u00e8 misurat<span class=\"_ _1\"></span>o coerentemente c<span class=\"_ _1\"></span>on il risultato del<span class=\"_ _26a\"> </span></span></span>bilancio consolidato.<span class=\"_ _1\"></span> Di seguito i princ<span class=\"_ _1\"></span>ipali dati econom<span class=\"_ _1\"></span>ici e finanziari suddiv<span class=\"_ _1\"></span>isi per settore oper<span class=\"_ _1\"></span>ativo: <span class=\"_ _1\"></span> Per i commenti dei <span class=\"_ _1\"></span>dati economico<span class=\"_ _1\"></span>-finanziari si r<span class=\"_ _1\"></span>imanda al capitol<span class=\"_ _1\"></span>o 3 della Relazio<span class=\"_ _1\"></span>ne sulla Gestio<span class=\"_ _1\"></span>ne.<span class=\"_ _1\"></span> 7. Eventi ed operazioni <span class=\"_ _1\"></span>significative non <span class=\"_ _1\"></span>ricorrenti<span class=\"_ _1\"></span> Fusione societ\u00e0 brasil<span class=\"_ _1\"></span>iane Comet do Bras<span class=\"_ _1\"></span>il con Lema<span class=\"_ _1\"></span>sa <span class=\"_ _1\"></span> Nel <span class=\"_ _11\"></span>corso <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>secondo <span class=\"_ _11\"></span>tri<span class=\"_ _1\"></span>mestre <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>stata <span class=\"_ _11\"></span>cambia<span class=\"_ _1\"></span>ta <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>denominaz<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>sociale <span class=\"_ _11\"></span>della<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _11\"></span>\u201cComet <span class=\"_ _11\"></span>do <span class=\"_ _11\"></span>Bras<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>Investimentos <span class=\"_ _8\"></span>LTDA\u201d <span class=\"_ _11\"></span>in <span class=\"_ _1\"></span>\u201cC<span class=\"_ _1\"></span>omet <span class=\"_ _8\"></span>do <span class=\"_ _8\"></span>Bras<span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>Industria <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>Comercio <span class=\"_ _8\"></span>de <span class=\"_ _8\"></span>Equipament<span class=\"_ _1\"></span>os <span class=\"_ _8\"></span>LTDA\u201d <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>fini <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>p<span class=\"_ _8\"></span><span class=\"ff2\">roceder<span class=\"_ _26a\"> </span></span>alla presentazione de<span class=\"_ _1\"></span>lla domanda d<span class=\"_ _1\"></span>i fusione con la co<span class=\"_ _1\"></span>ntrollata Lemasa <span class=\"_ _1\"></span>S.A.<span class=\"_ _1\"></span> In <span class=\"_ _8\"></span>data <span class=\"_ _11\"></span>8 <span class=\"_ _8\"></span>lug<span class=\"_ _1\"></span>lio <span class=\"_ _8\"></span>l\u2019uffici<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>imprese <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>accolto <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>egistrato <span class=\"_ _11\"></span>la <span class=\"_ _8\"></span>richi<span class=\"_ _1\"></span>esta <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>fusione <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>incorporaz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>le<span class=\"_ _26a\"> </span>societ\u00e0 <span class=\"_ _1\"></span>veicolo <span class=\"_ _1\"></span>Com<span class=\"_ _1\"></span>et <span class=\"_ _1\"></span>do <span class=\"_ _1\"></span>Brasil <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>su<span class=\"_ _1\"></span>a co<span class=\"_ _1\"></span>ntrollata <span class=\"_ _1\"></span>dir<span class=\"_ _8\"></span>etta <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>100% <span class=\"_ _1\"></span>Le<span class=\"_ _1\"></span>masa <span class=\"_ _1\"></span>S.A. <span class=\"_ _1\"></span>gener<span class=\"_ _1\"></span>ando e<span class=\"_ _1\"></span>ffetti <span class=\"_ _1\"></span>retroattiv<span class=\"_ _26a\"> </span>alla data d<span class=\"_ _1\"></span>el 1\u00b0 l<span class=\"_ _1\"></span>uglio 20<span class=\"_ _1\"></span>22. Conseg<span class=\"_ _1\"></span>uentemente, a <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ire da tal<span class=\"_ _1\"></span>e data tu<span class=\"_ _1\"></span>tte le at<span class=\"_ _1\"></span>tivit\u00e0, <span class=\"_ _1\"></span>i diritti, l<span class=\"_ _1\"></span>e passivit\u00e0 <span class=\"_ _1\"></span>e gl<span class=\"_ _26a\"> </span>obblighi <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>Lemasa <span class=\"_ _27\"> </span>sono <span class=\"_ _27\"> </span>in <span class=\"_ _26\"> </span>capo <span class=\"_ _26\"> </span>nella <span class=\"_ _26\"> </span>l<span class=\"_ _1\"></span>oro <span class=\"_ _26\"> </span>interez<span class=\"_ _1\"></span>za <span class=\"_ _26\"> </span>alla <span class=\"_ _26\"> </span>Comet <span class=\"_ _27\"> </span>do <span class=\"_ _26\"> </span>Brasil <span class=\"_ _26\"> </span>Industr<span class=\"_ _8\"></span>ia <span class=\"_ _27\"> </span>e <span class=\"_ _26\"> </span>Comercio <span class=\"_ _26\"> </span>d<span class=\"_ _26a\"> </span>Equipamentos LTD<span class=\"_ _1\"></span>A, come stabilito d<span class=\"_ _1\"></span>alla legislazione <span class=\"_ _1\"></span>commerciale brasi<span class=\"_ _1\"></span>liana.<span class=\"_ _1\"></span> L\u2019operazione non ha <span class=\"_ _3\"></span>comportato effetti sul <span class=\"_ _3\"></span>patrimonio netto del Gruppo, <span class=\"_ _3\"></span>essendo le due societ\u00e0 <span class=\"_ _3\"></span>consolidate a<span class=\"_ _26a\"> </span>100% fin dal 2015, lasci<span class=\"_ _1\"></span>ando inalterati i <span class=\"_ _1\"></span>valori g<span class=\"_ _1\"></span>i\u00e0 precedentemente <span class=\"_ _1\"></span>allocati.<span class=\"_ _1\"></span> Acquisto del 4% d<span class=\"_ _1\"></span>i Valley Industries LL<span class=\"_ _1\"></span>P<span class=\"_ _1\"></span> In <span class=\"_ _3\"></span>data 23 settembre 2022, l<span class=\"_ _3\"></span>a societ\u00e0 Comet <span class=\"_ _3\"></span>Usa ha siglato un<span class=\"_ _3\"></span> accordo per <span class=\"_ _3\"></span>l\u2019esercizio<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>dell\u2019opz<span class=\"_ _1\"></span>ione di <span class=\"_ _3\"></span>acquist<span class=\"_ _26a\"> </span>del 4% della partecipazi<span class=\"_ _1\"></span>one di Valley Ind<span class=\"_ _1\"></span>ustries LLP, portand<span class=\"_ _1\"></span>o la<span class=\"_ _1\"></span> propria <span class=\"_ _1\"></span>quota di partecipaz<span class=\"_ _1\"></span>ione al 94%.<span class=\"_ _1\"></span> Il <span class=\"_ _23\"> </span>prezz<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>l\u2019acquisizion<span class=\"_ _1\"></span>e <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>tale <span class=\"_ _21\"> </span>quota <span class=\"_ _21\"> </span>ammonta <span class=\"_ _1e\"> </span>a <span class=\"_ _21\"> </span>942 <span class=\"_ _21\"> </span>migliaia <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>dollari <span class=\"_ _21\"> </span>statunite<span class=\"_ _1\"></span>nsi <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>iflessi <span class=\"_ _21\"> </span>nel <span class=\"_ _21\"> </span>conto<span class=\"_ _26a\"> </span>economico consolidat<span class=\"_ _1\"></span>o dell\u2019esercizio.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019accordo <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>Put <span class=\"_ _20\"> </span>&amp; <span class=\"_ _20\"> </span>Call,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>i\u00e0 <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>essere, <span class=\"_ _20\"></span>rimane<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>pertanto <span class=\"_ _20\"> </span>in <span class=\"_ _20\"></span>vigore <span class=\"_ _20\"> </span>pe<span class=\"_ _8\"></span><span class=\"ff2\">r <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>restante <span class=\"_ _20\"></span>6% <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _20\"></span>quota <span class=\"_ _20\"></span>residua <span class=\"_ _20\"></span>d<span class=\"_ _26a\"> </span></span>partecipazione.<span class=\"_ _1\"></span> Dilazione della Put &amp; C<span class=\"_ _1\"></span>all di Markusson Prof<span class=\"_ _1\"></span>essional Gr<span class=\"_ _1\"></span>inders AB<span class=\"_ _1\"></span> In da<span class=\"_ _1\"></span>ta 2<span class=\"_ _1\"></span>9 l<span class=\"_ _1\"></span>uglio <span class=\"_ _1\"></span>2022, <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>societ\u00e0 <span class=\"_ _1\"></span>Tecom<span class=\"_ _1\"></span>ec <span class=\"_ _1\"></span>S.r.l. <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>siglato <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>emendam<span class=\"_ _1\"></span>ento <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>patto <span class=\"_ _1\"></span>parasoc<span class=\"_ _1\"></span>iale p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>la P<span class=\"_ _1\"></span>ut<span class=\"_ _26a\"> </span>&amp; <span class=\"_ _90\"> </span>Ca<span class=\"_ _1\"></span>ll <span class=\"_ _26\"> </span>della <span class=\"_ _26\"> </span>residua <span class=\"_ _26\"> </span>quo<span class=\"_ _1\"></span>ta <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>partecipazione <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>Mark<span class=\"_ _1\"></span>usson. <span class=\"_ _26\"> </span>Tale <span class=\"_ _26\"> </span>modifica <span class=\"_ _26\"> </span>contrattual<span class=\"_ _1\"></span>e <span class=\"_ _26\"> </span>ha <span class=\"_ _26\"> </span>comportato<span class=\"_ _26a\"> </span>l\u2019allungamento <span class=\"_ _20\"></span>dei <span class=\"_ _11\"></span>termini <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>diritto <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>opzione <span class=\"_ _11\"></span>su <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>19%<span class=\"_ _1\"></span>. <span class=\"_ _11\"></span>In <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>articolare, <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>prevista <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>prim<span class=\"_ _26a\"> </span>\u20ac/00<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8f\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _53\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>R<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>cav<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> v<span class=\"_ _3\"></span>erso<span class=\"_ _3\"></span> te<span class=\"_ _3\"></span>rzi<span class=\"_ _7e\"> </span>      199.4<span class=\"_ _3\"></span>36 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  202.9<span class=\"_ _3\"></span>77 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  241.2<span class=\"_ _3\"></span>83 <span class=\"_ _90\"> </span><span class=\"ls1d\">        22<span class=\"_ _2\"></span>9.9<span class=\"_ _3\"></span>90<span class=\"_ _3\"></span> <span class=\"_ _90\"> </span><span class=\"ls1\">   <span class=\"_ _1\"></span>   <span class=\"_ _1\"></span>16<span class=\"_ _3\"></span>5.00<span class=\"_ _3\"></span>4 <span class=\"_ _26\"> </span>  <span class=\"_ _1\"></span>   155.3<span class=\"_ _3\"></span>32 <span class=\"_ _91\"> </span><span class=\"ff4\">60<span class=\"_ _3\"></span>5.72<span class=\"_ _3\"></span>3<span class=\"_ _92\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>58<span class=\"_ _3\"></span>8.29<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span></span></span></span></span></span>R<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>cav<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> Infraset<span class=\"_ _2\"></span>torial<span class=\"_ _2\"></span>i<span class=\"_ _95\"> </span><span class=\"ls1d\">            35<span class=\"_ _2\"></span>7 <span class=\"_ _27\"> </span>            34<span class=\"_ _2\"></span>5 <span class=\"_ _90\"> </span>          3.3<span class=\"_ _2\"></span>08 <span class=\"_ _21\"> </span>            2.8<span class=\"_ _3\"></span>77<span class=\"_ _2\"></span> <span class=\"_ _1e\"> </span>          9.68<span class=\"_ _2\"></span>5 <span class=\"_ _1f\"> </span>       10<span class=\"_ _2\"></span>.52<span class=\"_ _3\"></span>4 <span class=\"_ _96\"> </span><span class=\"ls1\">(13.3<span class=\"_ _3\"></span>50)<span class=\"_ _97\"> </span>(13.7<span class=\"_ _3\"></span>46)<span class=\"_ _26a\"> </span></span></span>T<span class=\"_ _2\"></span>ota<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span> R<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>av<span class=\"_ _2\"></span>i<span class=\"_ _98\"> </span>    <span class=\"_ _1\"></span>  199.7<span class=\"_ _3\"></span>93 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  203.3<span class=\"_ _3\"></span>22 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  244.5<span class=\"_ _3\"></span>91 <span class=\"_ _90\"> </span><span class=\"ls1d\">        2<span class=\"_ _3\"></span>32<span class=\"_ _3\"></span>.86<span class=\"_ _2\"></span>7 <span class=\"_ _90\"> </span><span class=\"ls1\">   <span class=\"_ _1\"></span>   174.6<span class=\"_ _3\"></span>89 <span class=\"_ _26\"> </span>    <span class=\"_ _1\"></span> 165<span class=\"_ _3\"></span>.856<span class=\"_ _3\"></span> <span class=\"_ _97\"> </span>(13<span class=\"_ _3\"></span>.350<span class=\"_ _3\"></span>)<span class=\"_ _99\"> </span>(13.7<span class=\"_ _3\"></span>46)<span class=\"_ _2d\"> </span><span class=\"ff4\">605<span class=\"_ _3\"></span>.723<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>58<span class=\"_ _3\"></span>8.29<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span></span></span></span></span></span>Eb<span class=\"_ _3\"></span>itda<span class=\"_ _3\"></span>   (<span class=\"_ _1\"></span>*)<span class=\"_ _9b\"> </span><span class=\"ls1d\">        12<span class=\"_ _2\"></span>.25<span class=\"_ _3\"></span>7 <span class=\"_ _1e\"> </span>        16<span class=\"_ _3\"></span>.22<span class=\"_ _3\"></span>1 <span class=\"_ _1e\"> </span>        34<span class=\"_ _3\"></span>.91<span class=\"_ _2\"></span>0 <span class=\"_ _1f\"> </span>          33<span class=\"_ _2\"></span>.991<span class=\"_ _2\"></span> <span class=\"_ _1f\"> </span>        31.9<span class=\"_ _2\"></span>37<span class=\"_ _3\"></span> <span class=\"_ _1f\"> </span>       30<span class=\"_ _3\"></span>.91<span class=\"_ _2\"></span>3 <span class=\"_ _9c\"> </span><span class=\"ls1\">(3.02<span class=\"_ _3\"></span>5)<span class=\"_ _9d\"> </span>(3.82<span class=\"_ _3\"></span>9)<span class=\"_ _9e\"> </span><span class=\"ff4\">76<span class=\"_ _3\"></span>.079<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>77<span class=\"_ _3\"></span>.296<span class=\"_ _26a\"> </span></span></span></span></span></span>Eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>da<span class=\"_ _3\"></span>/Totale<span class=\"_ _3\"></span> Ric<span class=\"_ _1\"></span>av<span class=\"_ _3\"></span>i %<span class=\"_ _a1\"> </span>6,1%<span class=\"_ _a2\"> </span>8,0%<span class=\"_ _a3\"> </span>14<span class=\"_ _3\"></span>,3%<span class=\"_ _a4\"> </span>14<span class=\"_ _3\"></span>,6%<span class=\"_ _a3\"> </span>18,3%<span class=\"_ _d\"> </span>1<span class=\"_ _3\"></span>8,6%<span class=\"_ _33\"> </span><span class=\"ffd\">12,<span class=\"_ _3\"></span>6%<span class=\"_ _a4\"> </span>13<span class=\"_ _3\"></span>,1<span class=\"_ _3\"></span>%<span class=\"_ _26a\"> </span></span>Eb<span class=\"_ _3\"></span>itda<span class=\"_ _3\"></span> prim<span class=\"_ _3\"></span>a de<span class=\"_ _3\"></span>gl<span class=\"_ _3\"></span>i oneri/prov<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>ti no<span class=\"_ _3\"></span>n ordin<span class=\"_ _3\"></span>ari  <span class=\"_ _1\"></span> (*<span class=\"_ _1\"></span>)<span class=\"_ _a5\"> </span><span class=\"ls1d\">        12<span class=\"_ _2\"></span>.49<span class=\"_ _3\"></span>5 <span class=\"_ _1e\"> </span>        16<span class=\"_ _3\"></span>.36<span class=\"_ _3\"></span>0 <span class=\"_ _1e\"> </span>        35<span class=\"_ _3\"></span>.08<span class=\"_ _2\"></span>2 <span class=\"_ _1f\"> </span>          33<span class=\"_ _2\"></span>.382<span class=\"_ _2\"></span> <span class=\"_ _1f\"> </span>        32.0<span class=\"_ _2\"></span>92<span class=\"_ _3\"></span> <span class=\"_ _1f\"> </span>       31<span class=\"_ _3\"></span>.52<span class=\"_ _2\"></span>3 <span class=\"_ _9c\"> </span><span class=\"ls1\">(3.02<span class=\"_ _3\"></span>5)<span class=\"_ _9d\"> </span>(3.82<span class=\"_ _3\"></span>9)<span class=\"_ _9e\"> </span><span class=\"ff4\">76<span class=\"_ _3\"></span>.644<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>77<span class=\"_ _3\"></span>.436<span class=\"_ _26a\"> </span></span></span></span></span></span>Eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>da<span class=\"_ _21\"> </span>prima<span class=\"_ _21\"> </span>deg<span class=\"_ _2\"></span>li<span class=\"_ _1e\"> </span>oneri<span class=\"_ _21\"> </span>e<span class=\"_ _1e\"> </span>prove<span class=\"_ _3\"></span>nti<span class=\"_ _1e\"> </span><span class=\"ls1e\">non<span class=\"_ _1e\"> </span></span>ordina<span class=\"_ _3\"></span>ri/Totale<span class=\"_ _23\"> </span>Ric<span class=\"_ _1\"></span>av<span class=\"_ _3\"></span>i6,3%<span class=\"_ _a2\"> </span>8,0%<span class=\"_ _a3\"> </span>14<span class=\"_ _3\"></span>,3%<span class=\"_ _a4\"> </span>14<span class=\"_ _3\"></span>,3%<span class=\"_ _a3\"> </span>18,4%<span class=\"_ _d\"> </span>1<span class=\"_ _3\"></span>9,0%<span class=\"_ _33\"> </span><span class=\"ffd\">12,<span class=\"_ _3\"></span>7%<span class=\"_ _a4\"> </span>13<span class=\"_ _3\"></span>,2<span class=\"_ _3\"></span>%<span class=\"_ _26a\"> </span></span>R<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>su<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>o ope<span class=\"_ _3\"></span>rativ<span class=\"_ _2\"></span>o<span class=\"_ _a6\"> </span>1.25<span class=\"_ _3\"></span>1<span class=\"_ _a7\"> </span>8.08<span class=\"_ _3\"></span>9<span class=\"_ _90\"> </span><span class=\"ls1d\">        26.0<span class=\"_ _2\"></span>54<span class=\"_ _3\"></span> <span class=\"_ _1f\"> </span>          26<span class=\"_ _3\"></span>.12<span class=\"_ _2\"></span>8 <span class=\"_ _1f\"> </span>        22<span class=\"_ _3\"></span>.47<span class=\"_ _2\"></span>5 <span class=\"_ _1f\"> </span>       22<span class=\"_ _2\"></span>.51<span class=\"_ _3\"></span>6 <span class=\"_ _144\"> </span><span class=\"ls1\">(3.025<span class=\"_ _3\"></span>)<span class=\"_ _9d\"> </span>(3.829<span class=\"_ _3\"></span>)<span class=\"_ _9e\"> </span><span class=\"ff4\">46.75<span class=\"_ _3\"></span>5<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>52.90<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span></span></span></span></span></span>Risultato op<span class=\"_ _3\"></span>erativo<span class=\"_ _3\"></span>/Totale<span class=\"_ _3\"></span> Ric<span class=\"_ _1\"></span>av<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>%<span class=\"_ _26a\"> </span>0,6%<span class=\"_ _a2\"> </span>4,0%<span class=\"_ _a3\"> </span>10<span class=\"_ _3\"></span>,7%<span class=\"_ _a4\"> </span>11<span class=\"_ _3\"></span>,2%<span class=\"_ _a3\"> </span>12,9%<span class=\"_ _d\"> </span>1<span class=\"_ _3\"></span>3,6%<span class=\"_ _a9\"> </span><span class=\"ffd\">7,<span class=\"_ _3\"></span>7%<span class=\"_ _aa\"> </span>9,<span class=\"_ _3\"></span>0%<span class=\"_ _26a\"> </span></span>R<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>su<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>o del<span class=\"_ _3\"></span>la<span class=\"_ _3\"></span> ges<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ione<span class=\"_ _3\"></span> fi<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nzia<span class=\"_ _3\"></span>ria (<span class=\"_ _1\"></span>1)<span class=\"_ _ab\"> </span><span class=\"ff4\">(2.65<span class=\"_ _3\"></span>8)<span class=\"_ _ac\"> </span>(7.01<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span></span>U<span class=\"_ _2\"></span>tile<span class=\"_ _3\"></span> prima<span class=\"_ _3\"></span> del<span class=\"_ _2\"></span>le im<span class=\"_ _2\"></span>post<span class=\"_ _2\"></span>e<span class=\"_ _ad\"> </span><span class=\"ff4\">44<span class=\"_ _3\"></span>.097<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>45<span class=\"_ _3\"></span>.885<span class=\"_ _26a\"> </span></span></span></span>Im<span class=\"_ _3\"></span>pos<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span> su<span class=\"_ _3\"></span>l red<span class=\"_ _3\"></span>dito<span class=\"_ _ae\"> </span><span class=\"ff4\">(12.9<span class=\"_ _3\"></span>32)<span class=\"_ _9c\"> </span>(<span class=\"_ _1\"></span>12.7<span class=\"_ _3\"></span>74)<span class=\"_ _26a\"> </span></span>U<span class=\"_ _2\"></span>tile<span class=\"_ _3\"></span> d'es<span class=\"_ _2\"></span>erc<span class=\"_ _1\"></span>izio cons<span class=\"_ _3\"></span>ol<span class=\"_ _3\"></span>idat<span class=\"_ _2\"></span>o<span class=\"_ _af\"> </span><span class=\"ff4\">31<span class=\"_ _3\"></span>.165<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>33<span class=\"_ _3\"></span>.111<span class=\"_ _26a\"> </span></span></span></span>Utile d'e<span class=\"_ _3\"></span>serc<span class=\"_ _1\"></span>izio consolida<span class=\"_ _3\"></span>to/Tota<span class=\"_ _3\"></span>le Ricavi %<span class=\"_ _b0\"> </span><span class=\"ffd\">5,<span class=\"_ _3\"></span>1%<span class=\"_ _aa\"> </span>5,<span class=\"_ _3\"></span>6%<span class=\"_ _26a\"> </span></span>(1) Il \"R<span class=\"_ _3\"></span>isul<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>o del<span class=\"_ _2\"></span>la ge<span class=\"_ _3\"></span>st<span class=\"_ _3\"></span>ion<span class=\"_ _3\"></span>e finan<span class=\"_ _3\"></span>ziaria\" inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span> prov<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>i e one<span class=\"_ _3\"></span>ri f<span class=\"_ _1\"></span>inan<span class=\"_ _3\"></span>ziari, gl<span class=\"_ _3\"></span>i util<span class=\"_ _3\"></span>i/perdit<span class=\"_ _3\"></span>e su<span class=\"_ _3\"></span> cam<span class=\"_ _3\"></span>bi ed il<span class=\"_ _3\"></span> ri<span class=\"_ _1\"></span>su<span class=\"_ _3\"></span>lt<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>o da pa<span class=\"_ _3\"></span>rtecipa<span class=\"_ _3\"></span>zion<span class=\"_ _3\"></span>i in societ<span class=\"_ _3\"></span>\u00e0 coll<span class=\"_ _2\"></span>ega<span class=\"_ _3\"></span>te<span class=\"_ _26a\"> </span>SI<span class=\"_ _3\"></span>TUA<span class=\"_ _2\"></span>Z<span class=\"_ _3\"></span>I<span class=\"_ _3\"></span>ONE PA<span class=\"_ _2\"></span>TRI<span class=\"_ _3\"></span>M<span class=\"_ _2\"></span>ONIA<span class=\"_ _2\"></span>LE E FI<span class=\"_ _2\"></span>NA<span class=\"_ _3\"></span>NZ<span class=\"_ _2\"></span>IA<span class=\"_ _2\"></span>RIA<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8f\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _53\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Po<span class=\"_ _3\"></span>sizion<span class=\"_ _3\"></span>e Fin<span class=\"_ _3\"></span>anz<span class=\"_ _3\"></span>iaria N<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span>ta   (*<span class=\"_ _1\"></span>)<span class=\"_ _3e\"> </span><span class=\"ls1d\">        2<span class=\"_ _3\"></span>1.2<span class=\"_ _2\"></span>95 <span class=\"_ _21\"> </span>          6.7<span class=\"_ _2\"></span>78 <span class=\"_ _1e\"> </span><span class=\"ls1\">  <span class=\"_ _1\"></span>   <span class=\"_ _1\"></span> 108<span class=\"_ _3\"></span>.992<span class=\"_ _3\"></span> <span class=\"_ _90\"> </span><span class=\"ls1d\">          96.0<span class=\"_ _2\"></span>92<span class=\"_ _3\"></span> <span class=\"_ _1f\"> </span>        47<span class=\"_ _3\"></span>.01<span class=\"_ _2\"></span>8 <span class=\"_ _1f\"> </span>       41<span class=\"_ _2\"></span>.399<span class=\"_ _2\"></span> <span class=\"_ _b1\"> </span><span class=\"ls1\">0<span class=\"_ _81\"> </span>0<span class=\"_ _54\"> </span><span class=\"ff4\">177.3<span class=\"_ _3\"></span>05<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>144<span class=\"_ _3\"></span>.269<span class=\"_ _26a\"> </span></span></span></span></span></span></span></span>Pa<span class=\"_ _3\"></span>trim<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>io N<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>to<span class=\"_ _51\"> </span>    <span class=\"_ _1\"></span>  184<span class=\"_ _3\"></span>.363<span class=\"_ _3\"></span> <span class=\"_ _26\"> </span>    <span class=\"_ _1\"></span>  186<span class=\"_ _3\"></span>.501<span class=\"_ _3\"></span> <span class=\"_ _26\"> </span><span class=\"ls1d\">        9<span class=\"_ _3\"></span>8.6<span class=\"_ _3\"></span>89<span class=\"_ _2\"></span> <span class=\"_ _1f\"> </span>          83.8<span class=\"_ _2\"></span>30<span class=\"_ _3\"></span> <span class=\"_ _1f\"> </span>        72<span class=\"_ _3\"></span>.22<span class=\"_ _2\"></span>8 <span class=\"_ _1f\"> </span>       63<span class=\"_ _3\"></span>.4<span class=\"_ _3\"></span>54<span class=\"_ _3\"></span> <span class=\"_ _96\"> </span><span class=\"ls1\">(78.29<span class=\"_ _3\"></span>3)<span class=\"_ _97\"> </span>(77.85<span class=\"_ _3\"></span>2)<span class=\"_ _2d\"> </span><span class=\"ff4\">276.9<span class=\"_ _3\"></span>87<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>255<span class=\"_ _3\"></span>.933<span class=\"_ _26a\"> </span></span></span></span></span></span>T<span class=\"_ _2\"></span>ota<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span> Pat<span class=\"_ _3\"></span>rimo<span class=\"_ _3\"></span>nio<span class=\"_ _3\"></span> Ne<span class=\"_ _3\"></span>tt<span class=\"_ _2\"></span>o e PFN<span class=\"_ _b2\"> </span>    <span class=\"_ _1\"></span>  205.6<span class=\"_ _3\"></span>58 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  193.2<span class=\"_ _3\"></span>79 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  207.6<span class=\"_ _3\"></span>81 <span class=\"_ _90\"> </span><span class=\"ls1d\">        1<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>.92<span class=\"_ _2\"></span>2 <span class=\"_ _90\"> </span><span class=\"ls1\">   <span class=\"_ _1\"></span>   119.2<span class=\"_ _3\"></span>46 <span class=\"_ _26\"> </span>    <span class=\"_ _1\"></span> 104<span class=\"_ _3\"></span>.853<span class=\"_ _3\"></span> <span class=\"_ _97\"> </span>(78<span class=\"_ _3\"></span>.293<span class=\"_ _3\"></span>)<span class=\"_ _99\"> </span>(77.8<span class=\"_ _3\"></span>52)<span class=\"_ _2d\"> </span><span class=\"ff4\">454<span class=\"_ _3\"></span>.292<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>40<span class=\"_ _3\"></span>0.20<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span></span></span></span></span></span>At<span class=\"_ _3\"></span>tiv<span class=\"_ _2\"></span>it\u00e0<span class=\"_ _3\"></span> non<span class=\"_ _3\"></span> c<span class=\"_ _1\"></span>orrent<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> net<span class=\"_ _2\"></span>te (2)   (<span class=\"_ _1\"></span>*)    <span class=\"_ _1\"></span>  122.9<span class=\"_ _3\"></span>22 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  128.4<span class=\"_ _3\"></span>24 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  101.6<span class=\"_ _3\"></span>79 <span class=\"_ _90\"> </span><span class=\"ls1d\">          9<span class=\"_ _3\"></span>5.8<span class=\"_ _3\"></span>54<span class=\"_ _2\"></span> <span class=\"_ _90\"> </span>        5<span class=\"_ _3\"></span>7.2<span class=\"_ _3\"></span>4<span class=\"_ _3\"></span>2 <span class=\"_ _1e\"> </span>       53<span class=\"_ _3\"></span>.23<span class=\"_ _3\"></span>3 <span class=\"_ _171\"> </span><span class=\"ls1\">(<span class=\"_ _1\"></span>75<span class=\"_ _3\"></span>.238<span class=\"_ _3\"></span>)<span class=\"_ _99\"> </span>(75.3<span class=\"_ _3\"></span>94)<span class=\"_ _2d\"> </span><span class=\"ff4\">206<span class=\"_ _3\"></span>.605<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>20<span class=\"_ _3\"></span>2.11<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span></span></span></span></span></span>Cap<span class=\"_ _3\"></span>ita<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span> Circ<span class=\"_ _1\"></span>ol<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span> N<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>   <span class=\"_ _1\"></span>(*<span class=\"_ _1\"></span>)        82<span class=\"_ _2\"></span>.73<span class=\"_ _3\"></span>6 <span class=\"_ _1e\"> </span>        64<span class=\"_ _3\"></span>.85<span class=\"_ _3\"></span>5 <span class=\"_ _1e\"> </span><span class=\"ls1\">  <span class=\"_ _1\"></span>   <span class=\"_ _1\"></span> 106<span class=\"_ _3\"></span>.002<span class=\"_ _3\"></span> <span class=\"_ _90\"> </span><span class=\"ls1d\">          84<span class=\"_ _3\"></span>.06<span class=\"_ _3\"></span>8 <span class=\"_ _1e\"> </span>        62<span class=\"_ _3\"></span>.00<span class=\"_ _2\"></span>4 <span class=\"_ _1f\"> </span>       51<span class=\"_ _2\"></span>.620<span class=\"_ _2\"></span> <span class=\"_ _9c\"> </span><span class=\"ls1\">(<span class=\"_ _1\"></span>3.05<span class=\"_ _3\"></span>5)<span class=\"_ _9d\"> </span>(2.45<span class=\"_ _3\"></span>8)<span class=\"_ _2d\"> </span><span class=\"ff4\">247<span class=\"_ _3\"></span>.687<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>198<span class=\"_ _3\"></span>.085<span class=\"_ _26a\"> </span></span></span></span></span></span></span>T<span class=\"_ _2\"></span>ota<span class=\"_ _3\"></span>le<span class=\"_ _3\"></span> Cap<span class=\"_ _3\"></span>ital<span class=\"_ _2\"></span>e Inv<span class=\"_ _2\"></span>est<span class=\"_ _3\"></span>ito<span class=\"_ _3\"></span> N<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span>   <span class=\"_ _1\"></span>(*<span class=\"_ _1\"></span>)    <span class=\"_ _1\"></span>  205.6<span class=\"_ _3\"></span>58 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  193.2<span class=\"_ _3\"></span>79 <span class=\"_ _90\"> </span>    <span class=\"_ _1\"></span>  207.6<span class=\"_ _3\"></span>81 <span class=\"_ _90\"> </span><span class=\"ls1d\">        1<span class=\"_ _3\"></span>79<span class=\"_ _3\"></span>.92<span class=\"_ _2\"></span>2 <span class=\"_ _90\"> </span><span class=\"ls1\">   <span class=\"_ _1\"></span>   119.2<span class=\"_ _3\"></span>46 <span class=\"_ _26\"> </span>    <span class=\"_ _1\"></span> 104<span class=\"_ _3\"></span>.853<span class=\"_ _3\"></span> <span class=\"_ _97\"> </span>(78<span class=\"_ _3\"></span>.293<span class=\"_ _3\"></span>)<span class=\"_ _99\"> </span>(77.8<span class=\"_ _3\"></span>52)<span class=\"_ _2d\"> </span><span class=\"ff4\">454<span class=\"_ _3\"></span>.292<span class=\"_ _9a\"></span><span class=\"ls1d\">     <span class=\"ls1\"> <span class=\"_ _93\"> </span>40<span class=\"_ _3\"></span>0.20<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span></span></span></span></span></span>(2) Le at<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _3\"></span> non<span class=\"_ _3\"></span> corr<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti ne<span class=\"_ _3\"></span>tt<span class=\"_ _2\"></span>e del<span class=\"_ _3\"></span> set<span class=\"_ _2\"></span>tore O<span class=\"_ _2\"></span>ut<span class=\"_ _3\"></span>doo<span class=\"_ _3\"></span>r Pow<span class=\"_ _2\"></span>er Equipm<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>t inclu<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span> l'a<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ta<span class=\"_ _3\"></span>re del<span class=\"_ _2\"></span>le Pa<span class=\"_ _3\"></span>rte<span class=\"_ _3\"></span>ci<span class=\"_ _1\"></span>pa<span class=\"_ _3\"></span>zion<span class=\"_ _3\"></span>i i<span class=\"_ _1\"></span>n so<span class=\"_ _3\"></span>ciet\u00e0<span class=\"_ _3\"></span> c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>trol<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>e per 76.0<span class=\"_ _3\"></span>74 m<span class=\"_ _2\"></span>iglia<span class=\"_ _3\"></span>ia di Euro<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>LTRI<span class=\"_ _3\"></span> IND<span class=\"_ _3\"></span>ICA<span class=\"_ _2\"></span>TOR<span class=\"_ _3\"></span>I<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8f\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _53\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Dipe<span class=\"_ _3\"></span>nde<span class=\"_ _3\"></span>nt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> a fine pe<span class=\"_ _3\"></span>riodo            74<span class=\"_ _2\"></span>7 <span class=\"_ _27\"> </span>            75<span class=\"_ _2\"></span>8 <span class=\"_ _27\"> </span>            87<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span> <span class=\"_ _27\"> </span>              83<span class=\"_ _3\"></span>7 <span class=\"_ _26\"> </span>            655<span class=\"_ _2\"></span> <span class=\"_ _90\"> </span>            622<span class=\"_ _2\"></span> <span class=\"_ _90\"> </span>                9<span class=\"_ _3\"></span> <span class=\"_ _90\"> </span>                8 <span class=\"_ _a3\"> </span><span class=\"ff4 ls1\">2<span class=\"_ _3\"></span>.284<span class=\"_ _9f\"></span><span class=\"ls1d\">        <span class=\"ls1\"> <span class=\"_ _b3\"> </span>2.22<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span></span></span></span>A<span class=\"_ _2\"></span>LTRE I<span class=\"_ _3\"></span>NFO<span class=\"_ _3\"></span>RM<span class=\"_ _3\"></span>A<span class=\"_ _2\"></span>ZI<span class=\"_ _2\"></span>ONI<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _8f\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>21<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _53\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _8e\"> </span>31.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Am<span class=\"_ _2\"></span>mo<span class=\"_ _3\"></span>rta<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>ent<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> e pe<span class=\"_ _3\"></span>rdite<span class=\"_ _3\"></span> di v<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ore        11<span class=\"_ _2\"></span>.00<span class=\"_ _3\"></span>6 <span class=\"_ _21\"> </span>          8.1<span class=\"_ _3\"></span>32<span class=\"_ _2\"></span> <span class=\"_ _1f\"> </span>          8.8<span class=\"_ _2\"></span>56<span class=\"_ _3\"></span> <span class=\"_ _1e\"> </span>            7.8<span class=\"_ _3\"></span>63<span class=\"_ _2\"></span> <span class=\"_ _1e\"> </span>          9.46<span class=\"_ _2\"></span>2 <span class=\"_ _1f\"> </span>         8.3<span class=\"_ _2\"></span>97<span class=\"_ _3\"></span> <span class=\"_ _b4\"> </span><span class=\"ff4 ls1\">29<span class=\"_ _3\"></span>.324<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>24<span class=\"_ _3\"></span>.392<span class=\"_ _26a\"> </span></span></span></span>Inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>m<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ti in<span class=\"_ _26a\"> </span>im<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>obil<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>zz<span class=\"_ _3\"></span>azio<span class=\"_ _3\"></span>ni m<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>erial<span class=\"_ _3\"></span>i e<span class=\"_ _26a\"> </span>im<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>erial<span class=\"_ _3\"></span>i          4.4<span class=\"_ _2\"></span>61<span class=\"_ _3\"></span> <span class=\"_ _1e\"> </span>          4.2<span class=\"_ _3\"></span>66<span class=\"_ _2\"></span> <span class=\"_ _1e\"> </span>          8.63<span class=\"_ _2\"></span>9 <span class=\"_ _1e\"> </span>            5.2<span class=\"_ _2\"></span>29<span class=\"_ _3\"></span> <span class=\"_ _1e\"> </span>          8.6<span class=\"_ _3\"></span>32<span class=\"_ _2\"></span> <span class=\"_ _90\"> </span>         8<span class=\"_ _3\"></span>.06<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span> <span class=\"_ _b4\"> </span><span class=\"ff4 ls1\">21<span class=\"_ _3\"></span>.732<span class=\"_ _9f\"></span><span class=\"ls1d\">      <span class=\"ls1\"> <span class=\"_ _a0\"> </span>17<span class=\"_ _3\"></span>.561<span class=\"_ _26a\"> </span></span></span></span>(*) Per magg<span class=\"_ _3\"></span>iori<span class=\"_ _3\"></span> det<span class=\"_ _3\"></span>tagl<span class=\"_ _3\"></span>i si rimand<span class=\"_ _3\"></span>a a<span class=\"_ _3\"></span>l pa<span class=\"_ _3\"></span>ragraf<span class=\"_ _3\"></span>o \"De<span class=\"_ _3\"></span>fini<span class=\"_ _3\"></span>zione <span class=\"_ _3\"></span>degl<span class=\"_ _3\"></span>i in<span class=\"_ _3\"></span>dicato<span class=\"_ _3\"></span>ri al<span class=\"_ _3\"></span>terna<span class=\"_ _3\"></span>tiv<span class=\"_ _3\"></span>i di<span class=\"_ _3\"></span> perf<span class=\"_ _3\"></span>ormance\" i<span class=\"_ _3\"></span>n Rel<span class=\"_ _3\"></span>azione<span class=\"_ _3\"></span> sulla<span class=\"_ _3\"></span> gestio<span class=\"_ _3\"></span>ne<span class=\"_ _26a\"> </span>OUT<span class=\"_ _3\"></span>DOOR P<span class=\"_ _3\"></span>OW<span class=\"_ _1\"></span>ER<span class=\"_ _26a\"> </span>EQU<span class=\"_ _3\"></span>IPM<span class=\"_ _2\"></span>ENT POM<span class=\"_ _2\"></span>PE E HI<span class=\"_ _3\"></span>GH<span class=\"_ _26a\"> </span>PRE<span class=\"_ _3\"></span>SSUR<span class=\"_ _3\"></span>E W<span class=\"_ _1\"></span>A<span class=\"_ _3\"></span>TER<span class=\"_ _3\"></span> JE<span class=\"_ _3\"></span>TTI<span class=\"_ _3\"></span>NG<span class=\"_ _26a\"> </span>COM<span class=\"_ _2\"></span>PONEN<span class=\"_ _3\"></span>TI<span class=\"_ _3\"></span> E<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>CCESS<span class=\"_ _3\"></span>ORI<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri non<span class=\"_ _3\"></span> all<span class=\"_ _2\"></span>ocati<span class=\"_ _3\"></span> / Eli<span class=\"_ _3\"></span>si<span class=\"_ _3\"></span>oniCon<span class=\"_ _3\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _3\"></span>to<span class=\"_ _26a\"> </span>opzione <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>30% <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>capital<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>sociale <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Mark<span class=\"_ _1\"></span>usson <span class=\"_ _1\"></span>che <span class=\"_ _8\"></span>potr\u00e0 <span class=\"_ _1\"></span>ess<span class=\"_ _8\"></span>ere<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>esercitata <span class=\"_ _8\"></span>da <span class=\"_ _1\"></span>Teco<span class=\"_ _1\"></span>mec <span class=\"_ _1\"></span>S.r.l., <span class=\"_ _8\"></span>nel<span class=\"_ _26a\"> </span>periodo <span class=\"_ _2\"></span>decorren<span class=\"_ _1\"></span>te <span class=\"_ _2\"></span>dal <span class=\"_ _2\"></span>1<span class=\"_ _1\"></span>\u00b0 <span class=\"_ _2\"></span>maggio <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>15 <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>iugno <span class=\"_ _2\"></span>2023. <span class=\"_ _3\"></span>Una <span class=\"_ _2\"></span>secon<span class=\"_ _1\"></span>da <span class=\"_ _2\"></span>opzione<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>Call <span class=\"_ _2\"></span>per<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _2\"></span>19% <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>cap<span class=\"_ _1\"></span>itale<span class=\"_ _26a\"> </span>sociale di Markusson sar\u00e0<span class=\"_ _1\"></span> eserc<span class=\"_ _1\"></span>itabile da Tecomec S.<span class=\"_ _1\"></span>r.l. dal 1\u00b0 maggio 202<span class=\"_ _1\"></span>6.<span class=\"_ _1\"></span> La modifica <span class=\"_ _3\"></span>dei termini ha <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>omp<span class=\"ff5\">ort<span class=\"_ _1\"></span>ato l\u2019adeguamento del debito <span class=\"_ _3\"></span>per P&amp;C ed <span class=\"_ _2\"></span>u<span class=\"_ _1\"></span>n conseguente onere pa<span class=\"_ _3\"></span>ri a 58<span class=\"_ _26a\"> </span></span>migliaia di Euro rifless<span class=\"_ _1\"></span>i nel conto eco<span class=\"_ _1\"></span>nomico consolidato de<span class=\"_ _1\"></span>ll\u2019esercizio.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Costituzione Jiangmen <span class=\"_ _1\"></span>Autech Equipment C<span class=\"_ _1\"></span>o. Lt<span class=\"_ _1\"></span>d<span class=\"_ _26a\"> </span>In <span class=\"_ _8\"></span>data<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>30 <span class=\"_ _11\"></span>settembre <span class=\"_ _11\"></span>2022 <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>tata <span class=\"_ _11\"></span>registrata <span class=\"_ _8\"></span>la<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>costit<span class=\"_ _1\"></span>uzio<span class=\"_ _1\"></span>ne <span class=\"_ _11\"></span>della <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>dir<span class=\"_ _1\"></span>itto <span class=\"_ _8\"></span>ci<span class=\"_ _1\"></span>nese <span class=\"_ _8\"></span>J<span class=\"_ _1\"></span>iangmen <span class=\"_ _11\"></span>Autech<span class=\"_ _26a\"> </span>Equipment <span class=\"_ _1\"></span>Co. <span class=\"_ _8\"></span>Ltd, <span class=\"_ _1\"></span>poss<span class=\"_ _1\"></span>eduta <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>10<span class=\"_ _1\"></span>0% <span class=\"_ _1\"></span>dal<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>Capogru<span class=\"_ _1\"></span>ppo <span class=\"_ _1\"></span>Emak <span class=\"_ _8\"></span>Spa. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>pitale <span class=\"_ _8\"></span>sociale s<span class=\"_ _1\"></span>ar\u00e0 <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>ersato <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>ta<span class=\"_ _26a\"> </span>successiva, <span class=\"_ _3\"></span>tramite <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>onferimento <span class=\"_ _3\"></span>netto <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>eni <span class=\"_ _2\"></span>in <span class=\"_ _3\"></span>natur<span class=\"_ _1\"></span>a, <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>un <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>circa <span class=\"_ _3\"></span>12 mi<span class=\"_ _3\"></span>lioni <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>R<span class=\"_ _1\"></span>enmi<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>bi, <span class=\"_ _3\"></span>mediant<span class=\"_ _26a\"> </span>scorporo dalla controllata Jiangm<span class=\"_ _1\"></span>en Emak Outdoor Po<span class=\"_ _1\"></span>wer Equipment Co.Ltd. d<span class=\"_ _1\"></span>i immobilizzazioni che ad ogg<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>sono <span class=\"_ _1e\"> </span>concesse <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>comodato <span class=\"_ _1e\"> </span>a <span class=\"_ _1f\"> </span>parti <span class=\"_ _1e\"> </span>terze <span class=\"_ _1e\"> </span>e <span class=\"_ _1e\"> </span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1e\"> </span>cons<span class=\"_ _1\"></span>eguentemente <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>on <span class=\"_ _1e\"> </span>sono <span class=\"_ _1e\"> </span>utilizzat<span class=\"_ _1\"></span>e <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>process<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>produttivo.<span class=\"_ _26a\"> </span>Alla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>31 <span class=\"_ _1\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _8\"></span>2022, <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ostituzione <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>tale <span class=\"_ _1\"></span>Soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _1\"></span>non <span class=\"_ _8\"></span>ha <span class=\"_ _8\"></span>determin<span class=\"_ _1\"></span>ato <span class=\"_ _1\"></span>alcun <span class=\"_ _8\"></span>impatto <span class=\"_ _1\"></span>su<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>bilancio<span class=\"_ _26a\"> </span>consolidato.<span class=\"_ _1\"></span> Acquisizione di Trebol <span class=\"_ _1\"></span>Maquinaria y <span class=\"_ _1\"></span>Suministros S.A.<span class=\"_ _8\"></span> In data 30 <span class=\"_ _1\"></span>settembre <span class=\"_ _1\"></span>2022,<span class=\"_ _1\"></span> la control<span class=\"_ _1\"></span>lata Sabart <span class=\"_ _1\"></span>S.r.l., <span class=\"_ _1\"></span>ha sottoscritto <span class=\"_ _1\"></span>un acc<span class=\"_ _1\"></span>ordo v<span class=\"_ _1\"></span>incolante per <span class=\"_ _1\"></span>l\u2019acq<span class=\"_ _8\"></span><span class=\"ff2\">uisto<span class=\"_ _1\"></span> de<span class=\"_ _26a\"> </span></span>controllo <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>Tr<span class=\"_ _1\"></span>ebol <span class=\"_ _21\"> </span>Maquin<span class=\"_ _1\"></span>aria <span class=\"_ _21\"> </span>y <span class=\"_ _21\"> </span>Su<span class=\"_ _1\"></span>ministros <span class=\"_ _21\"> </span>S.A., <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _21\"> </span>co<span class=\"_ _1\"></span>n <span class=\"_ _21\"> </span>sede <span class=\"_ _21\"> </span>a <span class=\"_ _1e\"> </span>La <span class=\"_ _21\"> </span>Cor<span class=\"_ _1\"></span>una <span class=\"_ _21\"> </span>(Spagna), <span class=\"_ _1e\"> </span>attiva <span class=\"_ _21\"> </span>nella<span class=\"_ _26a\"> </span>commercializzazione di<span class=\"_ _1\"></span> ricambi e access<span class=\"_ _1\"></span>ori nel settore Garden e<span class=\"_ _1\"></span> Forestry.<span class=\"_ _8\"></span> La soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>realizzat<span class=\"_ _1\"></span>o n<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>vendite<span class=\"_ _1\"></span> per <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>irca <span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> m<span class=\"_ _1\"></span>ilioni <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro<span class=\"_ _1\"></span>, <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>EBITDA <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ormalizzato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>13%<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>circa<span class=\"_ _26a\"> </span>con posizione finanz<span class=\"_ _1\"></span>iaria netta positiva p<span class=\"_ _1\"></span>ari a circa 200 migl<span class=\"_ _1\"></span>iaia di Euro.<span class=\"_ _1\"></span> Il 13 ottobre 2022, Sab<span class=\"_ _1\"></span>art S.r.l. ha completato <span class=\"_ _1\"></span>l\u2019acquisizione de<span class=\"_ _1\"></span>ll\u201983,33% della soc<span class=\"_ _1\"></span>iet\u00e0 ad un prezz<span class=\"_ _1\"></span>o pari a 3,4<span class=\"_ _26a\"> </span>milioni di Euro.<span class=\"_ _1\"></span> La <span class=\"ls1\">rimanente qu<span class=\"_ _1\"></span>ota della societ\u00e0, par<span class=\"_ _1\"></span>i al 16,67%, rim<span class=\"_ _1\"></span>ane di propriet<span class=\"_ _1\"></span>\u00e0 di uno dei soci fo<span class=\"_ _1\"></span>ndatori della soc<span class=\"_ _1\"></span>iet\u00e0.<span class=\"_ _8\"></span> </span>Con questa operazione, il Gruppo intende espandere la propria presenza diretta<span class=\"_ _1\"></span> nel segmento Componenti &amp;<span class=\"_ _26a\"> </span>Accessori in uno <span class=\"_ _3\"></span>dei principali mercati di sbocco a <span class=\"_ _3\"></span>livello europeo oltre ad ampliare il <span class=\"_ _3\"></span>proprio catalogo ricambi<span class=\"_ _26a\"> </span>rafforzando ulteriorme<span class=\"_ _1\"></span>nte la propria pos<span class=\"_ _1\"></span>izione di fornit<span class=\"_ _1\"></span>ore chiave nel settore<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> Il fair <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lue <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _1\"></span>oggetto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisizione <span class=\"_ _8\"></span>determinati <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>base <span class=\"_ _1\"></span>all\u2019ult<span class=\"_ _1\"></span>ima <span class=\"_ _1\"></span>situaz<span class=\"_ _8\"></span><span class=\"ff2\">io<span class=\"_ _1\"></span>ne co<span class=\"_ _1\"></span>ntabil<span class=\"_ _26a\"> </span></span>del 30 settembre 2022,<span class=\"_ _1\"></span> il prezzo pag<span class=\"_ _1\"></span>ato e l\u2019esborso finanziar<span class=\"_ _1\"></span>io sono di seguit<span class=\"_ _1\"></span>o dettagliati:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>La <span class=\"_ _3\"></span>differenza tra il<span class=\"_ _3\"></span> prezzo di <span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>quisizione pagato <span class=\"_ _3\"></span>e il <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>air value delle attivit\u00e0, <span class=\"_ _3\"></span>passivit\u00e0 e <span class=\"_ _3\"></span>passivit\u00e0 potenziali alla<span class=\"_ _26a\"> </span>data di acq<span class=\"_ _1\"></span>uisizione \u00e8 <span class=\"_ _1\"></span>stato<span class=\"_ _1\"></span> rilevato qu<span class=\"_ _1\"></span>ale avviam<span class=\"_ _1\"></span>ento. <span class=\"_ _1\"></span>Le rettifiche <span class=\"_ _1\"></span>di fair va<span class=\"_ _1\"></span>lue si <span class=\"_ _1\"></span>riferiscono per <span class=\"_ _1\"></span>392 m<span class=\"_ _1\"></span>igliaia<span class=\"_ _26a\"> </span>di Euro <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>marchio e<span class=\"_ _1\"></span> per<span class=\"_ _1\"></span> 916 m<span class=\"_ _1\"></span>igliaia d<span class=\"_ _1\"></span>i Euro<span class=\"_ _1\"></span> alla <span class=\"_ _8\"></span><span class=\"ff7\">custo<span class=\"_ _1\"></span>mer relat<span class=\"_ _1\"></span>ionship</span>, <span class=\"_ _1\"></span>valorizzati<span class=\"_ _1\"></span> in <span class=\"_ _1\"></span>sede d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span><span class=\"ff7\">Purchase <span class=\"_ _1\"></span>Price<span class=\"_ _26a\"> </span></span>Allocation<span class=\"ff2\"> <span class=\"_ _1\"></span><span class=\"ff5\">secondo <span class=\"_ _1\"></span>quanto <span class=\"_ _8\"></span>previsto da<span class=\"_ _1\"></span>ll\u2019IFRS <span class=\"_ _1\"></span>3. <span class=\"_ _1\"></span>La <span class=\"_ _1\"></span>valutazione <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>definito <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>vita <span class=\"_ _1\"></span>utile <span class=\"_ _1\"></span>stimata <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>attribuirsi <span class=\"_ _1\"></span>al<span class=\"_ _1\"></span> </span></span>marchio <span class=\"_ _8\"></span>(1<span class=\"_ _1\"></span>0 <span class=\"_ _11\"></span>anni) <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>alla <span class=\"_ _11\"></span>lista <span class=\"_ _11\"></span>clienti <span class=\"_ _8\"></span>(15 <span class=\"_ _11\"></span>anni). <span class=\"_ _11\"></span>Dalla <span class=\"_ _11\"></span>valutazione <span class=\"_ _11\"></span>non <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>emers<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>otenziali <span class=\"_ _11\"></span>non<span class=\"_ _26a\"> </span>riflesse.<span class=\"_ _26a\"> </span>La <span class=\"_ _2\"></span>determinazion<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>fair <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alue <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>at<span class=\"_ _1\"></span>tivit\u00e0 <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _2\"></span>acquis<span class=\"_ _1\"></span>ite <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>avvenu<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>seguendo <span class=\"_ _3\"></span>metodologie <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lutative<span class=\"_ _26a\"> </span>riconosciute come <span class=\"_ _3\"></span>best practice; <span class=\"_ _3\"></span>in particolare, <span class=\"_ _3\"></span>il criterio <span class=\"_ _3\"></span>dell<span class=\"_ _1\"></span><span class=\"fff\">\u2019excess<span class=\"_ _1\"></span> ea<span class=\"_ _3\"></span>rning method <span class=\"ff2\">per <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>lista clienti e <span class=\"_ _2\"></span>il <span class=\"ff7\">relief<span class=\"_ _1\"></span> </span></span></span>from royalty met<span class=\"_ _1\"></span><span class=\"ls4\">hod</span><span class=\"ff2\"> per il marc<span class=\"_ _1\"></span>hio.<span class=\"_ _26a\"> </span></span>Al 31 dicembre 2022<span class=\"_ _1\"></span> il process<span class=\"_ _1\"></span>o di <span class=\"ff7\">Purchase <span class=\"_ _1\"></span>Price Allocation<span class=\"_ _1\"></span></span> risulta completat<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span>Piano di acquisto di azi<span class=\"_ _1\"></span>oni Emak S.p.A.<span class=\"_ _1\"></span> Al <span class=\"_ _26\"> </span>31 <span class=\"_ _26\"> </span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _26\"> </span>202<span class=\"_ _1\"></span>1, <span class=\"_ _26\"> </span>la <span class=\"_ _27\"> </span>Capogrup<span class=\"_ _1\"></span>po <span class=\"_ _26\"> </span>dete<span class=\"_ _1\"></span>neva <span class=\"_ _26\"> </span>in <span class=\"_ _27\"> </span>portafoglio <span class=\"_ _26\"> </span>nu<span class=\"_ _1\"></span>mero <span class=\"_ _26\"> </span>397.<span class=\"_ _1\"></span>233 <span class=\"_ _26\"> </span>azioni <span class=\"_ _27\"> </span>proprie <span class=\"_ _26\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _26\"> </span>un<span class=\"_ _26a\"> </span>controvalore pari a <span class=\"_ _1\"></span>2.029 m<span class=\"_ _1\"></span>igliaia di Euro.<span class=\"_ _1\"></span> A seguito dell\u2019autorizzaz<span class=\"_ _1\"></span>ione conferita <span class=\"_ _1\"></span>dall\u2019Assemblea <span class=\"_ _1\"></span>degli Azionisti in data 2<span class=\"_ _1\"></span>9 aprile 2022, <span class=\"_ _1\"></span>Emak S.p.A. ha<span class=\"_ _26a\"> </span>effettuato acquisti sul <span class=\"_ _1\"></span>mercato di azioni pro<span class=\"_ _1\"></span>prie.<span class=\"_ _1\"></span> Nel <span class=\"_ _11\"></span>corso <span class=\"_ _11\"></span>dell\u2019ultimo <span class=\"_ _11\"></span>trimes<span class=\"_ _1\"></span>tre <span class=\"_ _11\"></span>dell\u2019esercizi<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>2022 <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>ac<span class=\"_ _8\"></span><span class=\"ff2\">quistato <span class=\"_ _11\"></span>n. <span class=\"_ _11\"></span>70<span class=\"_ _1\"></span>0.000 <span class=\"_ _11\"></span>azioni <span class=\"_ _11\"></span>proprie <span class=\"_ _20\"></span>per <span class=\"_ _11\"></span>un<span class=\"_ _26a\"> </span></span>controvalore <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>806 <span class=\"_ _20\"></span>migliai<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>Euro. <span class=\"_ _20\"></span>Pertanto, <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _20\"></span>dicembre <span class=\"_ _11\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _11\"></span>la <span class=\"_ _20\"></span>societ\u00e0 <span class=\"_ _20\"></span>detiene <span class=\"_ _20\"></span>n. <span class=\"_ _20\"></span>1.097.233 <span class=\"_ _20\"></span>azioni<span class=\"_ _26a\"> </span>proprie in portafoglio p<span class=\"_ _1\"></span>er un controvalore d<span class=\"_ _1\"></span>i 2.835 migliaia <span class=\"_ _1\"></span>di Euro.<span class=\"_ _8\"></span> Nel <span class=\"_ _2\"></span>corso <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>mesi <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>genn<span class=\"_ _1\"></span>aio <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>febbr<span class=\"_ _1\"></span>aio <span class=\"_ _3\"></span>2023 <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>si <span class=\"_ _3\"></span>sono <span class=\"_ _3\"></span>verificate <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>ariazioni <span class=\"_ _3\"></span>nella <span class=\"_ _3\"></span>consistenza <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>porta<span class=\"_ _1\"></span>foglio<span class=\"_ _26a\"> </span>di azioni proprie.<span class=\"_ _1\"></span> 8. Posizioni o trans<span class=\"_ _1\"></span>azioni da operazioni <span class=\"_ _1\"></span>atipiche ed <span class=\"_ _1\"></span>inusuali<span class=\"_ _1\"></span> Nel <span class=\"_ _1e\"> </span>corso <span class=\"_ _1e\"> </span>del<span class=\"_ _1\"></span>l\u2019esercizio <span class=\"_ _1e\"> </span>2022 <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>on <span class=\"_ _1e\"> </span>si <span class=\"_ _1e\"> </span>sono <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>egistrati <span class=\"_ _1f\"> </span>eventi/operazioni <span class=\"_ _1e\"> </span>ri<span class=\"_ _1\"></span>entranti <span class=\"_ _1e\"> </span>nell\u2019a<span class=\"_ _1\"></span>mbito <span class=\"_ _1e\"> </span>p<span class=\"_ _8\"></span><span class=\"ff2\">revisto <span class=\"_ _1f\"> </span>dalla<span class=\"fs3\"> </span></span>Comunicazione <span class=\"_ _27\"> </span>Consob.D<span class=\"_ _1\"></span>EM/6064293 <span class=\"_ _27\"> </span>del <span class=\"_ _27\"> </span>28 <span class=\"_ _27\"> </span>luglio <span class=\"_ _27\"> </span>2006. <span class=\"_ _27\"> </span>Come <span class=\"_ _27\"> </span>indicato <span class=\"_ _27\"> </span>in <span class=\"_ _27\"> </span>tale <span class=\"_ _27\"> </span>Comunicazione <span class=\"_ _27\"> </span>\u201cper<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ori<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ori<span class=\"_ _1\"></span> cont<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> R<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>fiche<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>r<span class=\"_ _26a\"> </span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _26a\"> </span>Fa<span class=\"_ _8\"></span>ir <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>vi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>cqui<span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>te<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ivi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>mobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ater<span class=\"_ _3\"></span>iali<span class=\"_ _185\"> </span><span class=\"ls32\">34<span class=\"_ _186\"> </span>34<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>mobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>materiali<span class=\"_ _187\"> </span><span class=\"ls33\"> -<span class=\"_ _e7\"> </span></span>1.30<span class=\"_ _3\"></span>8<span class=\"_ _17e\"> </span>1.<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>tre att<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nzi<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>ie <span class=\"_ _188\"> </span><span class=\"ls32\">20<span class=\"_ _186\"> </span>20<span class=\"_ _26a\"> </span></span>D<span class=\"_ _3\"></span>iritt<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>d'<span class=\"_ _2\"></span>us<span class=\"_ _1\"></span>o<span class=\"_ _189\"> </span><span class=\"ls32\">113<span class=\"_ _121\"> </span>113<span class=\"_ _26a\"> </span></span>A<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ivi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>im<span class=\"_ _1\"></span>an<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>e <span class=\"_ _18a\"> </span>1.67<span class=\"_ _3\"></span>2<span class=\"_ _157\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>67<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1\"></span> c<span class=\"_ _8\"></span>ommer<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>iali <span class=\"_ _1\"></span>e alt<span class=\"_ _1\"></span>ri c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _11a\"> </span><span class=\"ls32\">718<span class=\"_ _121\"> </span>718<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1\"></span> t<span class=\"_ _1\"></span>ribu<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>i<span class=\"_ _5\"> </span><span class=\"ls32\">11<span class=\"_ _186\"> </span>11<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>ass<span class=\"_ _8\"></span>a e dis<span class=\"_ _1\"></span>pon<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>bilit<span class=\"_ _1\"></span>\u00e0 liquide<span class=\"_ _18b\"> </span><span class=\"ls32\">52<span class=\"_ _186\"> </span>52<span class=\"_ _26a\"> </span></span>Pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>an<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e da lease<span class=\"_ _42\"> </span> (9<span class=\"_ _3\"></span>4)<span class=\"_ _140\"> </span> <span class=\"_ _1\"></span>(9<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ali <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r im<span class=\"_ _1\"></span>po<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>e dif<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>erite<span class=\"_ _79\"> </span> (3<span class=\"_ _3\"></span>4)<span class=\"_ _4\"> </span> (32<span class=\"_ _3\"></span>7)<span class=\"_ _ce\"> </span> <span class=\"_ _1\"></span>(3<span class=\"_ _3\"></span>61<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>Pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommerciali <span class=\"_ _1\"></span>e alt<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0<span class=\"_ _18c\"> </span> (66<span class=\"_ _3\"></span>5)<span class=\"_ _18d\"> </span> (66<span class=\"_ _3\"></span>5)<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>utari<span class=\"_ _18e\"> </span> (12<span class=\"_ _3\"></span>4)<span class=\"_ _18d\"> </span> (12<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>an<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e da lease<span class=\"_ _42\"> </span> (1<span class=\"_ _3\"></span>9)<span class=\"_ _140\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> a<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>ite<span class=\"_ _71\"> </span>1.684<span class=\"_ _17b\"> </span><span class=\"ls32\">981<span class=\"_ _c5\"> </span></span>2.665<span class=\"_ _26a\"> </span>Pe<span class=\"_ _8\"></span>rce<span class=\"_ _1\"></span>ntua<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _8\"></span>ta<span class=\"_ _18f\"> </span>83<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>33<span class=\"_ _3\"></span>%<span class=\"_ _26a\"> </span>PN di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>fe<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _8\"></span>to<span class=\"_ _190\"> </span>2.22<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Pre<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>ve<span class=\"_ _1\"></span>rs<span class=\"_ _9\"></span>a<span class=\"_ _8\"></span>to pe<span class=\"_ _8\"></span>r <span class=\"_ _1\"></span>il<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>83,33%<span class=\"_ _c\"></span> <span class=\"_ _191\"> </span>3.41<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>vvia<span class=\"_ _1\"></span>m<span class=\"_ _8\"></span>e<span class=\"_ _1\"></span>nto <span class=\"_ _192\"> </span>1.19<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>s<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>po<span class=\"_ _1\"></span>ni<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>qui<span class=\"_ _1\"></span>de<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>ite<span class=\"_ _193\"> </span><span class=\"ff2 ls32\">52<span class=\"_ _26a\"> </span></span>U<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>ci<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _194\"> </span>3.36<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>operazioni<span class=\"fs3\"> <span class=\"_ _20\"></span></span>ati<span class=\"_ _1\"></span>piche <span class=\"_ _11\"></span>e/o <span class=\"_ _20\"></span>inusuali <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>intendo<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>quelle <span class=\"_ _20\"></span>operazioni <span class=\"_ _11\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>significativit\u00e0/r<span class=\"_ _1\"></span>ilevanza, <span class=\"_ _20\"></span>natura <span class=\"_ _11\"></span>del<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>controparti,<span class=\"fs3\"> <span class=\"_ _23\"></span></span>oggetto <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>trans<span class=\"_ _1\"></span>azione, <span class=\"_ _20\"></span>modalit\u00e0 <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>determi<span class=\"_ _1\"></span>nazione <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>prezzo <span class=\"_ _20\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>tras<span class=\"_ _1\"></span>ferimento <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>tempistica<span class=\"_ _26a\"> </span>dell\u2019accadimento<span class=\"ff2 fs3\"> <span class=\"_ _2a\"> </span></span>(pros<span class=\"_ _1\"></span>simit\u00e0 <span class=\"_ _12\"> </span>alla <span class=\"_ _12\"> </span>chiusura <span class=\"_ _12\"> </span>dell\u2019esercizio) <span class=\"_ _12\"> </span>possono <span class=\"_ _12\"> </span>dare <span class=\"_ _12\"> </span>luogo <span class=\"_ _27\"> </span>a <span class=\"_ _12\"> </span>dubbi <span class=\"_ _12\"> </span>in <span class=\"_ _12\"> </span>ordine: <span class=\"_ _12\"> </span>alla<span class=\"_ _26a\"> </span>correttezza/complet<span class=\"_ _1\"></span>ezza<span class=\"fs3\"> </span><span class=\"ff5\">dell\u2019inform<span class=\"_ _1\"></span>azione in bilancio, <span class=\"_ _1\"></span>al conflitto d\u2019int<span class=\"_ _1\"></span></span>eress<span class=\"_ _1\"></span>e, alla salvagu<span class=\"_ _1\"></span>ardia del patrimon<span class=\"_ _1\"></span>io<span class=\"_ _26a\"> </span>aziendale, alla tute<span class=\"_ _1\"></span>la degli<span class=\"fs3\"> <span class=\"_ _1\"></span></span><span class=\"ff5\">azionisti di minoranza\u201d.<span class=\"_ _1\"></span><span class=\"ff4\"> </span></span>9. Posizione finanziar<span class=\"_ _1\"></span>ia netta <span class=\"_ _1\"></span> Si <span class=\"_ _23\"> </span>riporta <span class=\"_ _1e\"> </span>nella <span class=\"_ _21\"> </span>tabella <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>seguito <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>dettag<span class=\"_ _1\"></span>lio <span class=\"_ _21\"> </span>della <span class=\"_ _21\"> </span>posizione <span class=\"_ _21\"> </span>finanz<span class=\"_ _1\"></span>iaria <span class=\"_ _21\"> </span>netta <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>include <span class=\"_ _21\"> </span>l\u2019indebita<span class=\"_ _1\"></span>mento<span class=\"_ _26a\"> </span>finanziario <span class=\"_ _11\"></span>netto <span class=\"_ _8\"></span>det<span class=\"_ _1\"></span>erminato <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>econdo <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>criteri <span class=\"_ _11\"></span>dell\u2019Esma <span class=\"_ _11\"></span>(applicati <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>segu<span class=\"_ _1\"></span>ito <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _11\"></span>Comunicazione <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>onsob <span class=\"_ _8\"></span>n.<span class=\"_ _1\"></span> 5/21 del 29 aprile 20<span class=\"_ _1\"></span>21).<span class=\"_ _26a\"> </span>L\u2019incremento <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>ella <span class=\"_ _23\"> </span>pos<span class=\"_ _1\"></span>izione <span class=\"_ _23\"> </span>fi<span class=\"_ _1\"></span>nanziaria <span class=\"_ _21\"> </span>netta <span class=\"_ _23\"> </span>al <span class=\"_ _21\"> </span>31 <span class=\"_ _21\"> </span>dicembre <span class=\"_ _21\"> </span>2022 <span class=\"_ _23\"> </span>risp<span class=\"_ _1\"></span>etto <span class=\"_ _23\"> </span>al <span class=\"_ _21\"> </span>31 <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>icembre <span class=\"_ _23\"> </span>20<span class=\"_ _1\"></span>21, <span class=\"_ _23\"> </span>meg<span class=\"_ _1\"></span>lio<span class=\"_ _26a\"> </span>spiegato <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>lazione <span class=\"_ _2\"></span>su<span class=\"_ _1\"></span>lla <span class=\"_ _2\"></span>ges<span class=\"_ _1\"></span>tione, <span class=\"_ _2\"></span>rise<span class=\"_ _1\"></span>nte <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>un <span class=\"_ _3\"></span>incremento <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>capitale <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ircolante <span class=\"_ _3\"></span>netto <span class=\"_ _3\"></span>ed <span class=\"_ _2\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>part<span class=\"_ _1\"></span>icolare <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>lla<span class=\"_ _26a\"> </span>crescita dello stock delle <span class=\"_ _3\"></span>rimanenze che ha consentito e consente al Gruppo <span class=\"_ _3\"></span>di far fronte alle oscillazioni della<span class=\"_ _26a\"> </span>domanda rispondendo<span class=\"_ _1\"></span> cos\u00ec alle esigenz<span class=\"_ _1\"></span>e di m<span class=\"_ _1\"></span>ercato riducendo a<span class=\"_ _1\"></span>l minimo situazioni di rott<span class=\"_ _1\"></span>ure di stock. <span class=\"_ _8\"></span> L\u2019ultimo <span class=\"_ _11\"></span>trimestre <span class=\"_ _20\"> </span>del <span class=\"_ _11\"></span>20<span class=\"_ _1\"></span>22 <span class=\"_ _11\"></span>rispetto <span class=\"_ _20\"></span>all\u2019ultimo <span class=\"_ _20\"></span>trimestre <span class=\"_ _20\"></span>2021 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>inoltre <span class=\"_ _11\"></span>stato <span class=\"_ _11\"></span>i<span class=\"_ _1\"></span>nteressato <span class=\"_ _20\"></span>da <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>ral<span class=\"_ _1\"></span>lentamento<span class=\"_ _26a\"> </span>degli <span class=\"_ _1e\"> </span>approvvigionamen<span class=\"_ _1\"></span>ti <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>he <span class=\"_ _21\"> </span>h<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>q<span class=\"_ _1\"></span>uindi <span class=\"_ _1e\"> </span>determinat<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>sulla <span class=\"_ _21\"> </span>fi<span class=\"_ _1\"></span>ne <span class=\"_ _1e\"> </span>dell\u2019esercizio <span class=\"_ _1e\"> </span>un  <span class=\"ff2\">riassorbimento <span class=\"_ _1e\"> </span>dei<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>biti<span class=\"_ _26a\"> </span></span>commerciali con effet<span class=\"_ _1\"></span>ti negativi sul circolant<span class=\"_ _1\"></span>e netto.<span class=\"_ _1\"></span> La <span class=\"_ _2\"></span>pos<span class=\"_ _1\"></span>izione <span class=\"_ _3\"></span>finanz<span class=\"_ _1\"></span>iaria <span class=\"_ _3\"></span>netta <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>31 <span class=\"_ _3\"></span>dicembre 2022 <span class=\"_ _2\"></span>comprend<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>13.157 migliaia <span class=\"_ _2\"></span>di Euro <span class=\"_ _2\"></span>(12.259 migliaia <span class=\"_ _2\"></span>di Euro<span class=\"_ _26a\"> </span>al <span class=\"_ _8\"></span>31 <span class=\"_ _11\"></span>dicembre <span class=\"_ _11\"></span>2021), <span class=\"_ _11\"></span>riferiti <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>debiti <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>ac<span class=\"_ _1\"></span>quisto <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>resid<span class=\"_ _1\"></span>ue <span class=\"_ _11\"></span>quote <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>partecip<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>minoranz<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span>Nota<span class=\"_ _26a\"> </span>30). Tali debiti si riferisc<span class=\"_ _1\"></span>ono all\u2019acquisto dell<span class=\"_ _1\"></span>e partecipaz<span class=\"_ _1\"></span>ioni nelle seguenti soci<span class=\"_ _1\"></span>et\u00e0: <span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson per un amm<span class=\"_ _1\"></span>ontare di 4.866 mi<span class=\"_ _1\"></span>gliaia di Euro;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> per un ammont<span class=\"_ _1\"></span>are di 4.705 m<span class=\"_ _1\"></span>igliaia di Euro; <span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Valley L<span class=\"_ _1\"></span>LP per un a<span class=\"_ _1\"></span>mmontare di 1.986 <span class=\"_ _1\"></span>migliaia di Eur<span class=\"_ _1\"></span>o;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Poli <span class=\"_ _1\"></span>S.r.l. per un amm<span class=\"_ _1\"></span>ontare di 1.600 migl<span class=\"_ _1\"></span>iaia di Euro.<span class=\"_ _1\"></span> </span>La <span class=\"_ _20\"> </span>quota <span class=\"_ _23\"> </span>non <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>orrente <span class=\"_ _23\"> </span>dei <span class=\"_ _20\"> </span>debiti <span class=\"_ _23\"> </span>per <span class=\"_ _20\"> </span>ac<span class=\"_ _1\"></span>quisto <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"> </span>partec<span class=\"_ _1\"></span>ipazioni, <span class=\"_ _20\"> </span>inc<span class=\"_ _1\"></span>lusa <span class=\"_ _20\"> </span>ne<span class=\"_ _1\"></span>lla <span class=\"_ _20\"> </span>vo<span class=\"_ _1\"></span>ce <span class=\"_ _20\"> </span>\u201c<span class=\"_ _1\"></span>Debito <span class=\"_ _20\"> </span>fina<span class=\"_ _1\"></span>nziario <span class=\"_ _20\"> </span>n<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span>corrente\u201d <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>tabe<span class=\"_ _1\"></span>lla <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>opra <span class=\"_ _1\"></span>esposta, <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1\"></span>a <span class=\"_ _11\"></span><span class=\"ff2\">6.801 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Euro, <span class=\"_ _8\"></span>mentre <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _8\"></span>corrente <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _26a\"> </span></span>acquisto di partecipaz<span class=\"_ _1\"></span>ioni, inclusa nel<span class=\"_ _1\"></span>la voce \u201cDebito fi<span class=\"_ _1\"></span>nanziario corrente\u201d, \u00e8<span class=\"_ _1\"></span> pari a <span class=\"_ _8\"></span><span class=\"ff2\">6.356 migliaia di E<span class=\"_ _1\"></span>uro.<span class=\"_ _26a\"> </span></span>La <span class=\"_ _20\"></span>posizione <span class=\"_ _20\"> </span>finanz<span class=\"_ _1\"></span>iaria <span class=\"_ _20\"></span>netta <span class=\"_ _20\"> </span>al <span class=\"_ _23\"> </span>31 <span class=\"_ _11\"></span>dicem<span class=\"_ _1\"></span>bre <span class=\"_ _20\"></span>2022 <span class=\"_ _23\"> </span>include, <span class=\"_ _20\"></span>alle <span class=\"_ _20\"></span>voci <span class=\"_ _20\"></span>riferit<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>ai <span class=\"_ _20\"></span>\u201c<span class=\"_ _8\"></span>Debiti <span class=\"_ _20\"></span>finanziari\u201d, <span class=\"_ _20\"> </span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span>finanziarie <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>38<span class=\"_ _1\"></span>.039 <span class=\"_ _2\"></span>mig<span class=\"_ _1\"></span>liaia <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Eur<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>(38.<span class=\"_ _1\"></span>974 <span class=\"_ _2\"></span>miglia<span class=\"_ _1\"></span>ia <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Euro <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>31 <span class=\"_ _2\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _2\"></span>2021<span class=\"_ _1\"></span>) <span class=\"_ _2\"></span><span class=\"ff5\">derivant<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>dall\u2019 <span class=\"_ _2\"></span>ap<span class=\"_ _1\"></span>plicazione<span class=\"_ _26a\"> </span></span>A.<span class=\"_ _12\"> </span><span class=\"ls1\">D<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>pon<span class=\"_ _3\"></span>ibilit<span class=\"_ _1\"></span>\u00e0 li<span class=\"_ _1\"></span>qu<span class=\"_ _3\"></span>ide<span class=\"_ _187\"> </span>8<span class=\"_ _3\"></span>6.47<span class=\"_ _3\"></span>7<span class=\"_ _7d\"> </span>79.64<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span></span>B.<span class=\"_ _12\"> </span><span class=\"ls1\">Mez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>equ<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dis<span class=\"_ _1\"></span>pon<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>bilit<span class=\"_ _1\"></span>\u00e0 li<span class=\"_ _1\"></span>qu<span class=\"_ _3\"></span>ide<span class=\"_ _7e\"> </span> <span class=\"_ _1\"></span>-<span class=\"_ _3\"></span> <span class=\"_ _77\"> </span> <span class=\"_ _1\"></span>-<span class=\"_ _26a\"> </span></span>C.<span class=\"_ _2a\"> </span><span class=\"ls1\">A<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>re<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>\u00e0 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nz<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>ie c<span class=\"_ _1\"></span>orr<span class=\"_ _2\"></span>enti<span class=\"_ _195\"> </span>2.74<span class=\"_ _3\"></span>5<span class=\"_ _80\"> </span><span class=\"ls36\">358<span class=\"_ _26a\"> </span></span></span>D.<span class=\"_ _2a\"> </span><span class=\"ls1\">Li<span class=\"_ _8\"></span>qui<span class=\"_ _1\"></span>di<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(A<span class=\"_ _2\"></span>+<span class=\"_ _1\"></span>B+C)<span class=\"_ _7c\"> </span>89.22<span class=\"_ _3\"></span>2<span class=\"_ _7d\"> </span>80.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span></span>E.<span class=\"_ _12\"> </span><span class=\"ls1\">D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>o f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>io c<span class=\"_ _1\"></span>orr<span class=\"_ _2\"></span>ente<span class=\"_ _4e\"> </span> <span class=\"_ _1\"></span>(2<span class=\"_ _3\"></span>2.95<span class=\"_ _3\"></span>6)<span class=\"_ _b1\"> </span> <span class=\"_ _1\"></span>(19<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>938<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>F.<span class=\"_ _12\"> </span><span class=\"ls1\">P<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e c<span class=\"_ _8\"></span>or<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>bit<span class=\"_ _1\"></span>o f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nzi<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>o no<span class=\"_ _3\"></span>n c<span class=\"_ _1\"></span>orr<span class=\"_ _2\"></span>ente<span class=\"_ _82\"> </span> <span class=\"_ _1\"></span>(6<span class=\"_ _3\"></span>0.694<span class=\"_ _2\"></span>)<span class=\"_ _81\"> </span> <span class=\"_ _1\"></span>(56<span class=\"_ _3\"></span>.213<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>G.<span class=\"_ _2a\"> </span><span class=\"ls1\">I<span class=\"_ _1\"></span>nde<span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>(<span class=\"_ _3\"></span>E<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>+<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>F)<span class=\"_ _16d\"> </span> (8<span class=\"_ _3\"></span>3.65<span class=\"_ _3\"></span>0)<span class=\"_ _b1\"> </span> <span class=\"_ _1\"></span>(7<span class=\"_ _3\"></span>6.151<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>H.<span class=\"_ _2a\"> </span><span class=\"ls1\">I<span class=\"_ _8\"></span>nde<span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto fina<span class=\"_ _8\"></span>nz<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>rio <span class=\"_ _8\"></span>corr<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>o <span class=\"_ _1\"></span>(G<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- D)<span class=\"_ _c2\"> </span>5.572<span class=\"_ _d0\"> </span>3.852<span class=\"_ _26a\"> </span></span>I.<span class=\"_ _28\"> </span><span class=\"ls1\">De<span class=\"_ _3\"></span>bito fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>io non<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>e<span class=\"_ _85\"> </span> <span class=\"_ _1\"></span>(18<span class=\"_ _3\"></span>4.02<span class=\"_ _3\"></span>8)<span class=\"_ _b8\"> </span> <span class=\"_ _1\"></span>(14<span class=\"_ _3\"></span>9.10<span class=\"_ _3\"></span>5)<span class=\"_ _26a\"> </span></span>J.<span class=\"_ _28\"> </span><span class=\"ls1\">S<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>bito<span class=\"_ _196\"> </span> <span class=\"_ _1\"></span>- <span class=\"_ _6c\"> </span><span class=\"ls3b\"> -<span class=\"_ _26a\"> </span></span></span>K.<span class=\"_ _12\"> </span><span class=\"ls1\">D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ommer<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>iali <span class=\"_ _1\"></span>e alt<span class=\"_ _1\"></span>ri de<span class=\"_ _3\"></span>biti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>no<span class=\"_ _3\"></span>n c<span class=\"_ _1\"></span>orr<span class=\"_ _2\"></span>enti<span class=\"_ _fb\"> </span> - <span class=\"_ _6c\"> </span><span class=\"ls3b\"> -<span class=\"_ _26a\"> </span></span></span>L.<span class=\"_ _12\"> </span><span class=\"ls1\">I<span class=\"_ _1\"></span>nd<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto fina<span class=\"_ _8\"></span>nz<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>rio <span class=\"_ _8\"></span>non <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(I <span class=\"_ _1\"></span>+<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>J <span class=\"_ _1\"></span>+<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>K)<span class=\"_ _88\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>84<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>02<span class=\"_ _3\"></span>8)<span class=\"_ _b8\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>49<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>10<span class=\"_ _3\"></span>5)<span class=\"_ _26a\"> </span></span>M.<span class=\"_ _12\"> </span><span class=\"ls1\">Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>nde<span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>ta<span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto fina<span class=\"_ _8\"></span>nz<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>(H<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>+<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>L) (E<span class=\"_ _2\"></span>SM<span class=\"_ _1\"></span>A)<span class=\"_ _89\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>78<span class=\"_ _2\"></span>.<span class=\"_ _8\"></span>45<span class=\"_ _2\"></span>6)<span class=\"_ _86\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>45<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>25<span class=\"_ _3\"></span>3)<span class=\"_ _26a\"> </span></span>N.<span class=\"_ _2a\"> </span><span class=\"ls1\">Cr<span class=\"_ _3\"></span>ed<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>no<span class=\"_ _3\"></span>n c<span class=\"_ _8\"></span>or<span class=\"_ _2\"></span>re<span class=\"_ _3\"></span>nti<span class=\"_ _197\"> </span>1.15<span class=\"_ _3\"></span>1<span class=\"_ _80\"> </span><span class=\"ls36\">984<span class=\"_ _26a\"> </span></span></span>O.<span class=\"_ _2a\"> </span><span class=\"ls1\">P<span class=\"_ _1\"></span>os<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>Fi<span class=\"_ _8\"></span>na<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>Ne<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>(M-N<span class=\"_ _2\"></span>)<span class=\"_ _8b\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>77<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>5)<span class=\"_ _b8\"> </span> <span class=\"_ _1\"></span>(14<span class=\"_ _3\"></span>4.26<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span></span>E<span class=\"_ _2\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>to I<span class=\"_ _1\"></span>FRS <span class=\"_ _1\"></span>16<span class=\"_ _198\"> </span>38<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>03<span class=\"_ _3\"></span>9<span class=\"_ _7d\"> </span>38<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>97<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Pos<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>Fi<span class=\"_ _1\"></span>na<span class=\"_ _8\"></span>nz<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ria<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>Ne<span class=\"_ _1\"></span>tt<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>FRS <span class=\"_ _1\"></span>16<span class=\"_ _8d\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>39<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>26<span class=\"_ _3\"></span>6)<span class=\"_ _b8\"> </span> <span class=\"_ _1\"></span>(10<span class=\"_ _2\"></span>5.<span class=\"_ _1\"></span>29<span class=\"_ _3\"></span>5)<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _8\"></span> E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>2231<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>del <span class=\"_ _23\"></span>principio <span class=\"_ _23\"></span>contabile <span class=\"_ _23\"> </span>IFRS <span class=\"_ _23\"> </span>16<span class=\"_ _1\"></span>- <span class=\"_ _23\"></span><span class=\"ff7\">Leases</span>. <span class=\"_ _23\"> </span>La <span class=\"_ _23\"> </span>quota <span class=\"_ _23\"> </span>corr<span class=\"_ _1\"></span>ente <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>tale <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"></span>finanziaria <span class=\"_ _23\"> </span>ammonta <span class=\"_ _23\"> </span>a <span class=\"_ _23\"></span>6.357<span class=\"_ _26a\"> </span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>Euro <span class=\"_ _20\"></span>(<span class=\"_ _1\"></span>5.863 <span class=\"_ _20\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>Euro <span class=\"_ _23\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _20\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _20\"></span>2021)<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>la <span class=\"_ _11\"></span>quota <span class=\"_ _20\"></span>no<span class=\"_ _1\"></span>n <span class=\"_ _20\"></span>corr<span class=\"_ _1\"></span>ente <span class=\"_ _20\"></span>ammonta <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>31.682<span class=\"_ _26a\"> </span>migliaia di Euro <span class=\"_ _3\"></span>(33.111 migliaia di Euro al <span class=\"_ _3\"></span>31 dicembre 2021). All\u2019interno di <span class=\"_ _3\"></span>tale importo sono inclusi <span class=\"ff2\">passivit<span class=\"_ _1\"></span>\u00e0<span class=\"_ _26a\"> </span></span>derivanti da Lease verso parti correlate per<span class=\"_ _1\"></span> un importo di<span class=\"_ _1\"></span> 14.459 migliaia di Euro, di cui 1.670 migliaia di Euro<span class=\"_ _26a\"> </span>correnti,  ricon<span class=\"_ _1\"></span>ducibili <span class=\"_ _90\"> </span>a<span class=\"_ _1\"></span>ll\u2019applicazione <span class=\"_ _26\"> </span>dell\u2019IFRS <span class=\"_ _26\"> </span>16  ai <span class=\"_ _26\"> </span>contratti  d<span class=\"_ _1\"></span>i  aff<span class=\"_ _1\"></span>itto  che <span class=\"_ _26\"> </span>alcune <span class=\"_ _26\"> </span>societ\u00e0  del <span class=\"_ _26\"> </span>Gruppo<span class=\"_ _26a\"> </span>intrattengono con la soci<span class=\"_ _1\"></span>et\u00e0 consociata Y<span class=\"_ _1\"></span>ama Immobili<span class=\"_ _1\"></span>are S.r.l.<span class=\"_ _1\"></span> Al 31<span class=\"_ _3\"></span> dicembre 2022, la <span class=\"_ _3\"></span>voce Crediti <span class=\"_ _3\"></span>finanziari include inoltre <span class=\"_ _3\"></span>crediti verso parti <span class=\"_ _3\"></span>correlate per un <span class=\"_ _3\"></span>importo di <span class=\"_ _3\"></span>148<span class=\"_ _26a\"> </span>migliaia di Euro,<span class=\"_ _1\"></span> di cui 37 <span class=\"_ _1\"></span>migliaia di Euro <span class=\"_ _1\"></span>quale quota<span class=\"_ _1\"></span> corr<span class=\"_ _1\"></span>ente, riconducibili al cre<span class=\"_ _1\"></span>dito verso <span class=\"_ _1\"></span>Yama S.p.A. per<span class=\"_ _26a\"> </span>le <span class=\"_ _23\"> </span>garanzie <span class=\"_ _23\"> </span>prev<span class=\"_ _1\"></span>iste <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>ontratto <span class=\"_ _23\"> </span>in <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span><span class=\"ff5\">av<span class=\"_ _1\"></span>ore <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>S.p.A. <span class=\"_ _23\"> </span>nell\u2019amb<span class=\"_ _1\"></span>ito <span class=\"_ _23\"> </span>della <span class=\"_ _23\"> </span>c.<span class=\"_ _1\"></span>d. <span class=\"_ _23\"> </span>\u201cOperazione <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>reenfield\u201d<span class=\"_ _26a\"> </span></span>effettuata nel 2011.<span class=\"_ _1\"></span> Ai fini <span class=\"_ _3\"></span>della dichiarazione sull\u2019indebitam<span class=\"_ _1\"></span>ento di cui <span class=\"_ _3\"></span>alla Comunicazione Consob n. 5/21 del 29 <span class=\"_ _3\"></span>aprile 2021, non<span class=\"_ _26a\"> </span>si <span class=\"_ _8\"></span>segnal<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>presenza <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>indebitamento <span class=\"_ _11\"></span>indiretto <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>soggetto <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>condizio<span class=\"_ _1\"></span>ni <span class=\"_ _8\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>non <span class=\"_ _8\"></span>sia <span class=\"_ _11\"></span>stato <span class=\"_ _8\"></span>direttamen<span class=\"_ _1\"></span>te<span class=\"_ _26a\"> </span>riconosciuto <span class=\"_ _11\"></span>nel <span class=\"_ _11\"></span>bilancio <span class=\"_ _11\"></span>consolidato, <span class=\"_ _11\"></span>n\u00e9 <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>egnalano <span class=\"_ _11\"></span>scos<span class=\"_ _1\"></span>tamenti <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>ilevanti <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>riferimento <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>obbligazioni<span class=\"_ _26a\"> </span>sorte e registrate ma <span class=\"_ _1\"></span>il cui importo fi<span class=\"_ _1\"></span>nale non \u00e8 stato a<span class=\"_ _1\"></span>ncora determinato c<span class=\"_ _1\"></span>on certezza.<span class=\"_ _8\"></span> 10. Ricavi ed altri rica<span class=\"_ _1\"></span>vi operativi<span class=\"_ _1\"></span> I <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>ammo<span class=\"_ _1\"></span>ntano <span class=\"_ _23\"> </span>a <span class=\"_ _23\"> </span>605.72<span class=\"_ _1\"></span>3 <span class=\"_ _23\"> </span>migliaia <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>Euro, <span class=\"_ _23\"> </span>contro<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>588.299 <span class=\"_ _23\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _23\"></span>dello <span class=\"_ _23\"> </span>scors<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>esercizio e sono esposti<span class=\"_ _1\"></span> al netto de<span class=\"_ _1\"></span>i resi per 1.274 mig<span class=\"_ _1\"></span>liaia di Euro, contro 1.5<span class=\"_ _1\"></span>35 migliaia di Euro d<span class=\"_ _1\"></span>ello <span class=\"_ _8\"></span>scors<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span>esercizio.<span class=\"_ _26a\"> </span>Il dettaglio della voce r<span class=\"_ _1\"></span>icavi \u00e8 il seguente:<span class=\"_ _8\"></span> L\u2019incremento  dei  \u201cRicavi\u201d  si  riferisce  alla  crescita  registrata  in  alcuni  segm<span class=\"_ _1\"></span>enti  in  cui  opera  il  Gruppo,<span class=\"_ _26a\"> </span>concentrata <span class=\"_ _8\"></span>soprattutto <span class=\"_ _8\"></span>ne<span class=\"_ _1\"></span>lle <span class=\"_ _8\"></span>aree <span class=\"_ _8\"></span>Europa <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>Americas. <span class=\"_ _8\"></span>La <span class=\"_ _8\"></span>variazione <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>area <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolida<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>ha <span class=\"_ _8\"></span>avuto <span class=\"_ _8\"></span>u<span class=\"_ _26a\"> </span>n<span class=\"_ _26a\"> </span>effetto positivo sui r<span class=\"_ _1\"></span>icavi dell\u2019esercizio p<span class=\"_ _1\"></span>er 4.549 miglia<span class=\"_ _1\"></span>ia di Euro. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>La voce altri ricavi operat<span class=\"_ _1\"></span>ivi \u00e8 cos\u00ec compos<span class=\"_ _1\"></span>ta:  <span class=\"_ _1\"></span> La voce \u201cC<span class=\"_ _1\"></span>ontributi <span class=\"_ _1\"></span>in c<span class=\"_ _1\"></span>onto eserc<span class=\"_ _1\"></span>izio e <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>conto cap<span class=\"_ _1\"></span>itale\u201d inc<span class=\"_ _1\"></span>lude cr<span class=\"_ _1\"></span>editi di <span class=\"_ _1\"></span>imposta<span class=\"_ _1\"></span> per <span class=\"_ _11\"></span><span class=\"ff2\">761 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro </span><span class=\"ff2\">e<span class=\"_ _1\"></span> </span>341 <span class=\"_ _1\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uale <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>comp<span class=\"_ _1\"></span>etenza <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontributo <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fondo <span class=\"_ _8\"></span>perduto <span class=\"_ _1\"></span>conc<span class=\"_ _1\"></span>esso <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>fro<span class=\"_ _1\"></span>nte <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>Bando<span class=\"_ _26a\"> </span>del <span class=\"_ _8\"></span>Ministero<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>dello <span class=\"_ _11\"></span>Sviluppo <span class=\"_ _11\"></span>Economi<span class=\"ff5\">co <span class=\"_ _11\"></span>\u201cIndustria <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ostenibile <span class=\"_ _11\"></span>\u2013</span> <span class=\"_ _11\"></span><span class=\"ff5\">ICT <span class=\"_ _8\"></span>&amp; <span class=\"_ _11\"></span>Agenda <span class=\"_ _8\"></span>Digita<span class=\"_ _1\"></span>le\u201d <span class=\"_ _8\"></span>(finanz<span class=\"_ _1\"></span>iamenti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>egl<span class=\"_ _26a\"> </span></span><span class=\"ff5\">i<span class=\"_ _26a\"> </span></span>interventi per la promozi<span class=\"_ _1\"></span>one di Grandi Pr<span class=\"_ _1\"></span>ogetti di R&amp;S<span class=\"_ _1\"></span>) alla Capogruppo E<span class=\"_ _1\"></span>mak.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _199\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _24\"> </span>E<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _1\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>av<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>ne<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>en<span class=\"_ _3\"></span>dita (a<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>ne<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>ed<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>abb<span class=\"_ _2\"></span>uon<span class=\"_ _2\"></span>i) <span class=\"_ _65\"> </span>60<span class=\"_ _3\"></span>0.53<span class=\"_ _2\"></span>8<span class=\"_ _e1\"> </span>58<span class=\"_ _3\"></span>3.12<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>av<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _2\"></span>r ad<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ost<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>aspo<span class=\"_ _3\"></span>rto<span class=\"_ _19a\"> </span>6.45<span class=\"_ _2\"></span>9<span class=\"_ _c9\"> </span>6.71<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>esi<span class=\"_ _26a\"> </span>(<span class=\"_ _3\"></span>1.27<span class=\"_ _3\"></span>4)<span class=\"_ _e3\"> </span>(<span class=\"_ _3\"></span>1.53<span class=\"_ _2\"></span>5)<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _19b\"> </span>60<span class=\"_ _2\"></span>5.723<span class=\"_ _19c\"> </span>58<span class=\"_ _2\"></span>8.299<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o es<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>e in c<span class=\"_ _8\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ap<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>ale<span class=\"_ _35\"> </span>1<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>376<span class=\"_ _131\"> </span>2.023<span class=\"_ _26a\"> </span>Aff<span class=\"_ _2\"></span>it<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>650<span class=\"_ _65\"> </span>558<span class=\"_ _26a\"> </span>Pl<span class=\"_ _1\"></span>usv<span class=\"_ _9\"></span>ale<span class=\"_ _3\"></span>nze <span class=\"_ _1\"></span>da<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e di i<span class=\"_ _1\"></span>mmobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ater<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>75<span class=\"_ _17b\"> </span>221<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>pu<span class=\"_ _3\"></span>bb<span class=\"_ _3\"></span>lic<span class=\"_ _8\"></span>it<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _26a\"> </span>171<span class=\"_ _65\"> </span>192<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>en<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>a azi<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>le<span class=\"_ _26a\"> </span>129<span class=\"_ _65\"> </span>123<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o s<span class=\"_ _1\"></span>pese di <span class=\"_ _1\"></span>ga<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nzia<span class=\"_ _26a\"> </span>78<span class=\"_ _16d\"> </span>68<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>imbor<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>i <span class=\"_ _1\"></span>ass<span class=\"_ _8\"></span>ic<span class=\"_ _1\"></span>ur<span class=\"_ _3\"></span>ativ<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>56<span class=\"_ _16d\"> </span>33<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>amminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>144<span class=\"_ _19d\"> </span>82<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri ricav<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ativ<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>2.07<span class=\"_ _3\"></span>4 <span class=\"_ _66\"> </span>1.810<span class=\"_ _3\"></span> Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>4.75<span class=\"_ _3\"></span>3<span class=\"_ _c9\"> </span>5.110<span class=\"_ _26a\"> </span>Al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _8\"></span>dello <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>corso <span class=\"_ _8\"></span>esercizio <span class=\"_ _8\"></span>tale <span class=\"_ _8\"></span>voce <span class=\"_ _8\"></span>includeva <span class=\"_ _11\"></span>620 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uali <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ussidi <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>fondo <span class=\"_ _8\"></span>perdu<span class=\"_ _1\"></span>to<span class=\"_ _26a\"> </span>ottenuti  della  societ\u00e0  Va<span class=\"_ _1\"></span>lley  nell\u2019ambito  dei<span class=\"_ _1\"></span>  programmi  di  sostegno <span class=\"_ _90\"> </span>al<span class=\"_ _1\"></span>le  imprese  per <span class=\"_ _90\"> </span>affront<span class=\"_ _1\"></span>are  la  crisi<span class=\"_ _1\"></span> pandemica<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span>11. Costi per materi<span class=\"_ _1\"></span>e prime e di consumo<span class=\"_ _8\"></span> Il dettaglio della voce c<span class=\"_ _1\"></span>osto per materi<span class=\"_ _1\"></span>e prime e di con<span class=\"_ _1\"></span>sumo \u00e8 il seguente:<span class=\"_ _8\"></span> La <span class=\"_ _11\"></span>contrazion<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>endite <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>part<span class=\"_ _1\"></span>ire <span class=\"_ _11\"></span>dalla <span class=\"_ _20\"></span>seconda <span class=\"_ _20\"></span>parte <span class=\"_ _11\"></span>dell\u2019anno, <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>nor<span class=\"_ _1\"></span>malizzazione <span class=\"_ _20\"></span>delle <span class=\"_ _11\"></span>c<span class=\"_ _26a\"> </span>ond<span class=\"_ _1\"></span>izioni <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>approvvigionament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>e della <span class=\"_ _3\"></span>logistica internazionale, hanno <span class=\"_ _3\"></span>portato ad <span class=\"_ _3\"></span>una revisione dell<span class=\"_ _3\"></span>e strategie <span class=\"_ _3\"></span>di acquisto<span class=\"_ _26a\"> </span>rispetto al precedente es<span class=\"_ _1\"></span>ercizio. I<span class=\"_ _1\"></span><span class=\"ff5\">n particol<span class=\"_ _1\"></span>are, l\u2019elevat<span class=\"_ _1\"></span>o livello delle scorte e l<span class=\"_ _1\"></span>a minore visibilit\u00e0 l<span class=\"_ _1\"></span>ato<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> domanda<span class=\"_ _1\"></span>,<span class=\"_ _26a\"> </span></span>hanno comportato una <span class=\"_ _3\"></span>revis<span class=\"_ _1\"></span>ione dei <span class=\"_ _3\"></span>livelli di <span class=\"_ _3\"></span>scorte necessari ed <span class=\"_ _3\"></span>una conseguente modifica delle <span class=\"_ _3\"></span>c<span class=\"_ _26a\"> </span>ondizioni<span class=\"_ _1\"></span> di<span class=\"_ _26a\"> </span>acquisto. La com<span class=\"_ _1\"></span>binazione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>ques<span class=\"_ _1\"></span>te <span class=\"_ _1\"></span>circostanze <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>generat<span class=\"_ _1\"></span>o u<span class=\"_ _8\"></span>na <span class=\"_ _1\"></span>riduzione <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span> fab<span class=\"_ _1\"></span>bisogno <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>mater<span class=\"_ _1\"></span>ie <span class=\"_ _1\"></span>prim<span class=\"_ _26a\"> </span>e <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>prodott<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>finiti rispetto al prece<span class=\"_ _1\"></span>dente esercizio, co<span class=\"_ _1\"></span>n particolare impatt<span class=\"_ _1\"></span>o nella parte final<span class=\"_ _1\"></span>e dell\u2019anno.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>12. Costi del personal<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Il dettaglio della voce \u00e8 <span class=\"_ _1\"></span>il seguente:<span class=\"_ _1\"></span> La variazione di are<span class=\"_ _1\"></span>a di consolidam<span class=\"_ _1\"></span>ento ha inciso<span class=\"_ _1\"></span> sul costo del p<span class=\"_ _1\"></span>ersonale per circa 1.0<span class=\"_ _1\"></span>40 migliaia di Euro.<span class=\"_ _8\"></span> Nel corso dell\u2019esercizio 202<span class=\"_ _1\"></span>2 sono stati capitalizzati tra le immobi<span class=\"_ _1\"></span>lizzazioni immateriali cos<span class=\"_ _1\"></span>ti del personale per<span class=\"_ _1\"></span> 527 migliaia <span class=\"_ _3\"></span>di Euro <span class=\"_ _3\"></span>(1.219 migliaia di Euro <span class=\"_ _3\"></span>al 31 <span class=\"_ _3\"></span>dicembre 2021), <span class=\"_ _3\"></span>riferi<span class=\"_ _1\"></span>ti principalmente ai <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>osti per <span class=\"_ _3\"></span>lo <span class=\"_ _3\"></span>svi<span class=\"_ _1\"></span>luppo<span class=\"_ _26a\"> </span>di nuovi prodotti.<span class=\"_ _1\"></span> I <span class=\"_ _26\"> </span>costi <span class=\"_ _27\"> </span>per <span class=\"_ _26\"> </span>In<span class=\"_ _1\"></span>dennit\u00e0 <span class=\"_ _27\"> </span>degli <span class=\"_ _26\"> </span>Am<span class=\"_ _1\"></span>ministratori <span class=\"_ _26\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _26\"> </span>in <span class=\"_ _27\"> </span>contrazione <span class=\"_ _27\"> </span>per <span class=\"_ _27\"> </span>effetto <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>ella <span class=\"_ _26\"> </span>minor <span class=\"_ _27\"> </span>incidenza <span class=\"_ _27\"> </span>della<span class=\"_ _26a\"> </span>componente <span class=\"_ _3\"></span>variab<span class=\"_ _1\"></span>ile <span class=\"_ _3\"></span>legata <span class=\"_ _3\"></span>alle performances, <span class=\"_ _3\"></span>mentre i <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>inori <span class=\"_ _3\"></span>volumi <span class=\"_ _3\"></span>di produzione <span class=\"_ _3\"></span>hanno portato <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>un <span class=\"_ _3\"></span>cal<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>delle spese per person<span class=\"_ _1\"></span>ale interinale.<span class=\"_ _1\"></span> La dimi<span class=\"_ _1\"></span>nuz<span class=\"ff5\">ione <span class=\"_ _1\"></span>dell\u2019ammon<span class=\"_ _1\"></span>tare <span class=\"_ _1\"></span>dei cost<span class=\"_ _1\"></span>i di <span class=\"_ _1\"></span>sviluppo <span class=\"_ _1\"></span>capitalizzat<span class=\"_ _1\"></span>i dipen<span class=\"_ _1\"></span>de da<span class=\"_ _1\"></span>lla c<span class=\"_ _1\"></span>onclusione a <span class=\"_ _1\"></span>fine <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>2021 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span></span>un importante progett<span class=\"_ _1\"></span>o avente spese c<span class=\"_ _1\"></span>on requisiti eleg<span class=\"_ _1\"></span>gibili per la capitalizzaz<span class=\"_ _1\"></span>ione.  <span class=\"_ _8\"></span> I <span class=\"_ _8\"></span>costi <span class=\"_ _11\"></span>dell\u2019esercizio <span class=\"_ _11\"></span>includono <span class=\"_ _8\"></span>oner<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>riorganizzazione <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span><span class=\"ff2\">204<span class=\"ff3 fs3\"> <span class=\"_ _11\"></span></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>Euro,<span class=\"ff3 fs3\"> <span class=\"_ _11\"></span></span></span>riferiti <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>incentivi <span class=\"_ _11\"></span>all\u2019esodo<span class=\"_ _1\"></span> corrisposti <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lcune <span class=\"_ _1\"></span>societ\u00e0 <span class=\"_ _8\"></span>del G<span class=\"_ _1\"></span>ruppo. <span class=\"_ _1\"></span>Nel<span class=\"_ _1\"></span>l\u2019esercizio <span class=\"_ _8\"></span>precedente <span class=\"_ _1\"></span>tali <span class=\"_ _8\"></span>oneri <span class=\"_ _1\"></span>ammontavano <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>144 <span class=\"_ _8\"></span>migliaia <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Euro.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _19e\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>Mater<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>e pr<span class=\"_ _2\"></span>im<span class=\"_ _1\"></span>e, <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>emilav<span class=\"_ _c\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ati <span class=\"_ _1\"></span>e pr<span class=\"_ _3\"></span>od<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>initi<span class=\"_ _26a\"> </span>32<span class=\"_ _2\"></span>7.422<span class=\"_ _64\"> </span>3<span class=\"_ _3\"></span>51<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>140<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>acqu<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>4.10<span class=\"_ _2\"></span>6<span class=\"_ _77\"> </span>3.64<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di s<span class=\"_ _8\"></span>v<span class=\"_ _c\"></span>ilup<span class=\"_ _3\"></span>po<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>a<span class=\"_ _3\"></span>pitaliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ati -<span class=\"_ _3b\"> </span><span class=\"ls1\">(<span class=\"_ _3\"></span>47<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span></span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _14b\"> </span>3<span class=\"_ _2\"></span>31.52<span class=\"_ _2\"></span>8<span class=\"_ _66\"> </span>3<span class=\"_ _3\"></span>54<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>737<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _184\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _8\"></span>io <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Salar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>nd<span class=\"_ _2\"></span>i<span class=\"_ _26a\"> </span>67<span class=\"_ _3\"></span>.731<span class=\"_ _82\"> </span>65<span class=\"_ _3\"></span>.560<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oc<span class=\"_ _1\"></span>iali<span class=\"_ _26a\"> </span>18<span class=\"_ _3\"></span>.951<span class=\"_ _82\"> </span>18<span class=\"_ _3\"></span>.506<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>FR<span class=\"_ _26a\"> </span>2.98<span class=\"_ _3\"></span>5<span class=\"_ _77\"> </span>2.<span class=\"_ _1\"></span>66<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ona<span class=\"_ _3\"></span>le<span class=\"_ _26a\"> </span>2.77<span class=\"_ _3\"></span>2<span class=\"_ _77\"> </span>2.<span class=\"_ _1\"></span>25<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di s<span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>ilupp<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ap<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>aliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>7)<span class=\"_ _82\"> </span> (1.21<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>nnit\u00e0 deg<span class=\"_ _3\"></span>li <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>mm<span class=\"_ _1\"></span>inis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ra<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>ori<span class=\"_ _26a\"> </span>1.23<span class=\"_ _3\"></span>9<span class=\"_ _77\"> </span>2.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Spese per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>on<span class=\"_ _3\"></span>ale<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>le<span class=\"_ _26a\"> </span>6.36<span class=\"_ _3\"></span>8<span class=\"_ _77\"> </span>8.<span class=\"_ _1\"></span>26<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>99<span class=\"_ _3\"></span>.519<span class=\"_ _82\"> </span>98<span class=\"_ _3\"></span>.231<span class=\"_ _26a\"> </span>Il dettaglio per paese d<span class=\"_ _1\"></span>el pers<span class=\"_ _1\"></span>onale \u00e8 esposto al capitolo <span class=\"_ _1\"></span>7 della Relazione sul<span class=\"_ _1\"></span>la gest<span class=\"_ _1\"></span>ione.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> 13. Altri costi operati<span class=\"_ _1\"></span>vi<span class=\"_ _26a\"> </span>Il dettaglio della voce \u00e8 <span class=\"_ _1\"></span>il seguente:<span class=\"_ _1\"></span> I <span class=\"_ _1\"></span>costi <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ervizi <span class=\"_ _1\"></span>han<span class=\"_ _1\"></span>no <span class=\"_ _1\"></span>risentito <span class=\"_ _8\"></span>negativamente <span class=\"_ _8\"></span>dell\u2019aumento <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _1\"></span>prezzi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>gas <span class=\"_ _1\"></span>ed <span class=\"_ _8\"></span>energia <span class=\"_ _1\"></span>registrat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>livello<span class=\"_ _26a\"> </span>macroeconomico, p<span class=\"_ _1\"></span>er circa 1,7 milioni di Eur<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span> Le <span class=\"_ _11\"></span>spese <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>viaggio <span class=\"_ _11\"></span>aume<span class=\"_ _1\"></span>ntano <span class=\"_ _11\"></span>rispetto <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>2021 <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>effett<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>della <span class=\"_ _11\"></span>piena <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>ipresa <span class=\"_ _11\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _11\"></span>trasferte <span class=\"_ _11\"></span>dopo<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>gli <span class=\"_ _11\"></span>anni<span class=\"_ _26a\"> </span>caratterizzati <span class=\"_ _8\"></span>dalla <span class=\"_ _11\"></span>pandemia <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>COVID<span class=\"_ _1\"></span>-1<span class=\"_ _1\"></span>9, <span class=\"_ _8\"></span>come <span class=\"_ _8\"></span>pur<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>costi <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>eve<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>azienda<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>fiere, <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _8\"></span>nella <span class=\"_ _8\"></span>voc<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Altri servizi, che reg<span class=\"_ _1\"></span>istrano un incremento <span class=\"_ _1\"></span>di circa <span class=\"_ _1\"></span>1,2 milioni di Euro<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>La <span class=\"_ _3\"></span>riduzione delle <span class=\"_ _3\"></span>spese per trasporti<span class=\"_ _3\"></span> si <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ollega <span class=\"_ _3\"></span>ai minori <span class=\"_ _3\"></span>volumi in <span class=\"_ _2\"></span>acq<span class=\"_ _1\"></span>uisto e <span class=\"_ _2\"></span>vendita, pur <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>pres<span class=\"_ _1\"></span>enza <span class=\"_ _3\"></span>di tariffe<span class=\"_ _26a\"> </span>a <span class=\"_ _1\"></span>livelli <span class=\"_ _1\"></span>molto <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>levati <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>larga <span class=\"_ _8\"></span>parte <span class=\"_ _1\"></span>dell\u2019eserc<span class=\"_ _1\"></span>izio<span class=\"ff2\">. <span class=\"_ _8\"></span>Tali <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _1\"></span>hanno <span class=\"_ _1\"></span>toccato <span class=\"_ _8\"></span>livelli <span class=\"_ _1\"></span>record, <span class=\"_ _8\"></span>per <span class=\"_ _1\"></span>poi <span class=\"_ _1\"></span>ridursi <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>fine<span class=\"_ _1\"></span> </span>esercizio con una te<span class=\"_ _1\"></span>ndenza alla riduzi<span class=\"_ _1\"></span>one ancora in cor<span class=\"_ _1\"></span>so.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _8\"></span> E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _8\"></span>io <span class=\"_ _8\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _19e\"> </span>E<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>azioni es<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>ne<span class=\"_ _52\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>23<span class=\"_ _3\"></span>3<span class=\"_ _d2\"> </span>1<span class=\"_ _3\"></span>8.30<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>Manu<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>enzi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>i<span class=\"_ _19f\"> </span>7.10<span class=\"_ _3\"></span>4<span class=\"_ _f6\"> </span>6.595<span class=\"_ _26a\"> </span>T<span class=\"_ _9\"></span>raspor<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e da<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1a0\"> </span>37<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>60<span class=\"_ _3\"></span>1<span class=\"_ _82\"> </span>39.492<span class=\"_ _26a\"> </span>Promo<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e e pub<span class=\"_ _2\"></span>blic<span class=\"_ _8\"></span>it<span class=\"_ _1\"></span>\u00e0<span class=\"_ _1a1\"> </span>5.11<span class=\"_ _3\"></span>9<span class=\"_ _f6\"> </span>4.158<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>v<span class=\"_ _c\"></span>igion<span class=\"_ _2\"></span>i<span class=\"_ _15d\"> </span>9.328<span class=\"_ _77\"> </span>9.507<span class=\"_ _26a\"> </span>Spese <span class=\"_ _1\"></span>di v<span class=\"_ _9\"></span>iag<span class=\"_ _3\"></span>gio<span class=\"_ _110\"> </span>2.75<span class=\"_ _3\"></span>3<span class=\"_ _f6\"> </span>1.451<span class=\"_ _26a\"> </span>Spese <span class=\"_ _1\"></span>po<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ali <span class=\"_ _1\"></span>e di <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>elecomun<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ione<span class=\"_ _85\"> </span><span class=\"ls3f\">841<span class=\"_ _1a2\"> </span>835<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ulen<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>e<span class=\"_ _1c\"> </span>6<span class=\"_ _3\"></span>.212<span class=\"_ _77\"> </span>6.146<span class=\"_ _26a\"> </span>For<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>a mot<span class=\"_ _1\"></span>rice<span class=\"_ _1a3\"> </span>4.01<span class=\"_ _3\"></span>2<span class=\"_ _f6\"> </span>2.925<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>e v<span class=\"_ _9\"></span>ar<span class=\"_ _3\"></span>ie<span class=\"_ _1a4\"> </span>1.90<span class=\"_ _3\"></span>7<span class=\"_ _f6\"> </span>1.271<span class=\"_ _26a\"> </span>Serv<span class=\"_ _c\"></span>iz<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>e s<span class=\"_ _8\"></span>pe<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>e ban<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>ie<span class=\"_ _1a5\"> </span><span class=\"ls3f\">787<span class=\"_ _1a2\"> </span>774<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ga<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nzia <span class=\"_ _1\"></span>po<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>end<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>a<span class=\"_ _166\"> </span>1.663<span class=\"_ _77\"> </span>1.454<span class=\"_ _26a\"> </span>As<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ic<span class=\"_ _8\"></span>ur<span class=\"_ _2\"></span>az<span class=\"_ _1\"></span>ioni<span class=\"_ _1a6\"> </span>1.85<span class=\"_ _3\"></span>0<span class=\"_ _f6\"> </span>1.669<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri s<span class=\"_ _1\"></span>erv<span class=\"_ _c\"></span>iz<span class=\"_ _1\"></span>i <span class=\"_ _1a7\"> </span>10<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>52<span class=\"_ _3\"></span>8<span class=\"_ _5d\"> </span>8.299<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di s<span class=\"_ _8\"></span>v<span class=\"_ _c\"></span>ilupp<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>apitaliz<span class=\"_ _1\"></span>z<span class=\"_ _8\"></span>ati<span class=\"_ _1a8\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _2\"></span>47)<span class=\"_ _d8\"> </span> (52<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>os<span class=\"_ _9\"></span>ti <span class=\"_ _1\"></span>pe<span class=\"_ _8\"></span>r <span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rviz<span class=\"_ _8\"></span>i<span class=\"_ _10a\"> </span>106<span class=\"_ _2\"></span>.<span class=\"_ _8\"></span>79<span class=\"_ _2\"></span>1<span class=\"_ _14c\"> </span>10<span class=\"_ _3\"></span>2.824<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>ff<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>tt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>nol<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>ggi<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>godi<span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto de<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>be<span class=\"_ _8\"></span>ni<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>te<span class=\"_ _8\"></span>rz<span class=\"_ _1\"></span>i<span class=\"_ _b2\"> </span>3.72<span class=\"_ _3\"></span>3<span class=\"_ _f6\"> </span>3.246<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>cc<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ntona<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span><span class=\"ff2\">(n<span class=\"_ _3\"></span>ota 34)<span class=\"_ _3a\"> </span><span class=\"ff4 ls3f\">597 <span class=\"_ _d8\"> </span><span class=\"ls1\">1.00<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span></span></span></span>Perd<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1a0\"> </span><span class=\"ls3f\">194<span class=\"_ _1a2\"> </span>265<span class=\"_ _26a\"> </span></span>Ac<span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>an<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o f<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>do<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alutaz<span class=\"_ _1\"></span>ione<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>re<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota <span class=\"_ _1\"></span>24<span class=\"_ _3\"></span>)<span class=\"_ _d5\"> </span>1<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>152<span class=\"_ _dd\"> </span><span class=\"ls3f\">750<span class=\"_ _26a\"> </span></span>Minusv<span class=\"_ _9\"></span>ale<span class=\"_ _3\"></span>nze <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ioni di <span class=\"_ _1\"></span>imm<span class=\"_ _1\"></span>ob<span class=\"_ _3\"></span>ili<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ioni m<span class=\"_ _1\"></span>ater<span class=\"_ _3\"></span>iali<span class=\"_ _b9\"> </span>7<span class=\"_ _180\"> </span><span class=\"ls3f\">64<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span> i<span class=\"_ _1\"></span>mpost<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>n s<span class=\"_ _8\"></span>ul re<span class=\"_ _3\"></span>dd<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>o)<span class=\"_ _1a9\"> </span>1.81<span class=\"_ _3\"></span>2<span class=\"_ _f6\"> </span>1.600<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti<span class=\"_ _1aa\"> </span><span class=\"ls3f\">148<span class=\"_ _f5\"> </span>65<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>div<span class=\"_ _c\"></span>er<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>i<span class=\"_ _1ab\"> </span>1.71<span class=\"_ _3\"></span>6<span class=\"_ _f6\"> </span>2.095<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>l<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>cos<span class=\"_ _c\"></span>ti <span class=\"_ _1\"></span>op<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>ra<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>vi<span class=\"_ _8c\"> </span>5.02<span class=\"_ _3\"></span>9<span class=\"_ _f6\"> </span>4.839<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1ac\"> </span>11<span class=\"_ _3\"></span>6.14<span class=\"_ _3\"></span>0<span class=\"_ _66\"> </span>111<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>909<span class=\"_ _26a\"> </span>14. Svalutazioni e ammo<span class=\"_ _1\"></span>rtament<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>Il dettaglio della voce \u00e8 <span class=\"_ _1\"></span>il seguente:<span class=\"_ _1\"></span> Le <span class=\"_ _9\"></span>s<span class=\"_ _1\"></span>valutazioni <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>ammort<span class=\"_ _1\"></span>amenti <span class=\"_ _2\"></span>al <span class=\"_ _2\"></span>31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>20<span class=\"_ _1\"></span>22 <span class=\"_ _2\"></span>ammontano <span class=\"_ _3\"></span>a <span class=\"_ _9\"></span>2<span class=\"_ _1\"></span>9.324 <span class=\"_ _2\"></span>migliaia <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Euro <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>cui <span class=\"_ _2\"></span>2.957 <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>igliai<span class=\"_ _26a\"> </span>a<span class=\"_ _26a\"> </span>iscritti <span class=\"_ _8\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>perd<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>riduzione <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019avviamento <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferito <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _11\"></span>Tailong <span class=\"_ _8\"></span>(Zhuhai) <span class=\"_ _11\"></span>Machinery<span class=\"_ _26a\"> </span>Manufacturing Equip<span class=\"_ _1\"></span>ment Ltd.<span class=\"_ _1\"></span> Tale <span class=\"_ _8\"></span>perdita <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>st<span class=\"_ _1\"></span>ata <span class=\"_ _8\"></span>rilevata <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>seguit<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>applicazio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>procedura <span class=\"_ _11\"></span>impairment <span class=\"_ _8\"></span>test <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>cui <span class=\"_ _11\"></span>dettagli <span class=\"_ _8\"></span>si<span class=\"_ _26a\"> </span>rimanda alla success<span class=\"_ _1\"></span>iva Nota 21.<span class=\"_ _1\"></span> La <span class=\"_ _11\"></span>voc<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>\u201cAmmortam<span class=\"_ _1\"></span>ento <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>diritti <span class=\"_ _11\"></span>d\u2019<span class=\"_ _1\"></span>uso\u201d <span class=\"_ _20\"></span>accoglie <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>\u2019ammortamento <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>diritti <span class=\"_ _20\"></span>d\u2019uso <span class=\"_ _20\"></span>iscritti <span class=\"_ _20\"></span>tra <span class=\"_ _11\"></span>le <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>non<span class=\"_ _26a\"> </span>correnti in applicazi<span class=\"_ _1\"></span>one del principio<span class=\"_ _1\"></span> contabile IFRS 16 <span class=\"_ _8\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>L\u2019ammortamento \u00e8 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>alcolato <span class=\"_ _3\"></span>sulla base <span class=\"_ _3\"></span>della durata <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _3\"></span>contratt<span class=\"_ _1\"></span>i, <span class=\"_ _3\"></span>tenendo in <span class=\"_ _3\"></span>considerazione la <span class=\"_ _2\"></span>ra<span class=\"_ _1\"></span>gionevolezza<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> dei probabili rinnovi <span class=\"_ _1\"></span>laddove siano contr<span class=\"_ _1\"></span>attualmente pr<span class=\"_ _1\"></span>evisti. <span class=\"_ _1\"></span> 15. Proventi ed one<span class=\"_ _1\"></span>ri finanziari<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>proventi finanz<span class=\"_ _1\"></span>iari\u201d</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span>I <span class=\"_ _8\"></span>\u201cProventi <span class=\"_ _8\"></span>finanziari <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>deguamento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _8\"></span>stima <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>debito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>impe<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>acquisto <span class=\"_ _8\"></span>quote <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>esidue <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _26a\"> </span>controllate\u201d <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>all<span class=\"_ _1\"></span>\u2019adeguamento <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>l\u2019acquisto <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>residuo <span class=\"_ _1\"></span>10% <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>LLP:<span class=\"_ _26a\"> </span>all\u2019inizio di settembre 2022 le part<span class=\"ff2\">i hanno concordato </span><span class=\"ls21\">l\u2019</span><span class=\"ff2\">eserc<span class=\"_ _1\"></span>izio della Put &amp; <span class=\"_ _3\"></span>Call option per il 4% <span class=\"_ _3\"></span>della societ\u00e0,<span class=\"_ _26a\"> </span></span>definendo <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferimento, <span class=\"_ _8\"></span>ancora <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>residu<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>6% <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>imane <span class=\"_ _1\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Put &amp; Call <span class=\"_ _1\"></span>option ed <span class=\"_ _1\"></span>\u00e8 valorizz<span class=\"_ _1\"></span>ato sulla base <span class=\"_ _1\"></span>dei risultat<span class=\"_ _1\"></span>i economi<span class=\"_ _1\"></span><span class=\"ls11\">co</span>-f<span class=\"_ _1\"></span>inanziari della <span class=\"_ _1\"></span>societ\u00e0 e isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>alla v<span class=\"_ _1\"></span>oce<span class=\"_ _26a\"> </span>Debiti per acquisto partec<span class=\"_ _1\"></span>ipazioni tra le <span class=\"_ _1\"></span>passivit\u00e0 corre<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span> Con <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>proventi <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>adeguamento <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>hiusura <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>strumenti <span class=\"_ _11\"></span>derivati <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rimanda <span class=\"_ _11\"></span>alla<span class=\"_ _26a\"> </span>successiva Nota 23.<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>oneri finanziar<span class=\"_ _1\"></span>i\u201d</span> \u00e8 il seg<span class=\"_ _1\"></span>uente:<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _19e\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>Am<span class=\"_ _1\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o de<span class=\"_ _3\"></span>lle im<span class=\"_ _1\"></span>mob<span class=\"_ _3\"></span>iliz<span class=\"_ _1\"></span>z<span class=\"_ _8\"></span>azion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>mater<span class=\"_ _3\"></span>iali (n<span class=\"_ _3\"></span>ota 19<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>5.88<span class=\"_ _3\"></span>0<span class=\"_ _77\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>36<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>Am<span class=\"_ _1\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o de<span class=\"_ _3\"></span>lle im<span class=\"_ _1\"></span>mob<span class=\"_ _3\"></span>iliz<span class=\"_ _1\"></span>z<span class=\"_ _8\"></span>azion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>materia<span class=\"_ _3\"></span>li <span class=\"_ _1\"></span>(n<span class=\"_ _2\"></span>ot<span class=\"_ _1\"></span>a 18<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>13<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>842<span class=\"_ _69\"> </span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>94<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span>Am<span class=\"_ _1\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o de<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>dir<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>d'<span class=\"_ _2\"></span>uso <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a 20<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>6.64<span class=\"_ _3\"></span>5<span class=\"_ _77\"> </span>6<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>08<span class=\"_ _2\"></span>2<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>idu<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>e di v<span class=\"_ _9\"></span>alo<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>ll\u02bcav<span class=\"_ _c\"></span>v<span class=\"_ _c\"></span>iamen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o (n<span class=\"_ _2\"></span>ota <span class=\"_ _1\"></span>21<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>2.95<span class=\"_ _3\"></span>7<span class=\"_ _12b\"> </span>-<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>29<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>324<span class=\"_ _69\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>39<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ade<span class=\"_ _3\"></span>gu<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>nto al <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>air v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>e e c<span class=\"_ _1\"></span>hius<span class=\"_ _1\"></span>ur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>gli s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rume<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>rtur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>risc<span class=\"_ _1\"></span>hio t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ess<span class=\"_ _8\"></span>e<span class=\"_ _26a\"> </span>2.81<span class=\"_ _3\"></span>3<span class=\"_ _1ad\"> </span><span class=\"ls40\">669<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> 259<span class=\"_ _c8\"> </span>96<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>onti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>ba<span class=\"_ _3\"></span>ncari e post<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>261<span class=\"_ _eb\"> </span>109<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>a de<span class=\"_ _3\"></span>bito <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>536<span class=\"_ _b2\"> </span><span class=\"ls41\"> -<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>ov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>138<span class=\"_ _eb\"> </span>129<span class=\"_ _26a\"> </span>Prove<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>7<span class=\"_ _1ae\"> </span>1.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>L\u2019aumento <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _1\"></span>\u201cInter<span class=\"_ _1\"></span>essi <span class=\"_ _1\"></span>su <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _1\"></span>verso <span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>nche\u201d <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>correlato <span class=\"_ _1\"></span>all\u2019incr<span class=\"_ _1\"></span>emento <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>tassi di interesse e de<span class=\"_ _1\"></span>ll\u2019indebitamento bancari<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli <span class=\"_ _1e\"> </span>\u201c<span class=\"_ _1\"></span>Oneri  finanziari <span class=\"_ _1f\"> </span>per  adeguamento  stima <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>el  <span class=\"ff2\">debito  per  i<span class=\"_ _3\"></span>mpegno  acquisto  quote <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>esidue  di <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0<span class=\"_ _26a\"> </span></span>controllate\u201d <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _3\"></span>all\u2019adeguament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>debiti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>l\u2019acquisto <span class=\"_ _3\"></span>delle residue <span class=\"_ _2\"></span>quote <span class=\"_ _3\"></span>delle <span class=\"_ _3\"></span>societ\u00e0:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>Sistemas <span class=\"_ _23\"></span>Eletr\u00f4nicos <span class=\"_ _23\"></span>S.A, <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _20\"></span>di <span class=\"_ _23\"> </span><span class=\"ff7\">Put <span class=\"_ _20\"></span>&amp; <span class=\"_ _23\"></span>Call <span class=\"_ _20\"></span>option <span class=\"_ _23\"></span><span class=\"ff5\">per <span class=\"_ _20\"></span>l\u2019acquisto <span class=\"_ _23\"> </span>del <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _20\"> </span>9% <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span></span></span></span>societ\u00e0, <span class=\"_ _1f\"> </span>con <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span>eguamento  nell\u2019esercizio <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1f\"> </span>a <span class=\"_ _1e\"> </span>797  migliaia <span class=\"_ _1e\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1e\"> </span>(2.<span class=\"_ _1\"></span>483  mi<span class=\"_ _3\"></span>gliaia  di  <span class=\"ff2\">Euro<span class=\"_ _26a\"> </span></span>nell\u2019esercizio precede<span class=\"_ _1\"></span>nte); <span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, oggetto di <span class=\"ff7\">Put &amp; Call option<span class=\"_ _1\"></span></span> <span class=\"ff5\">che regola l\u2019acquisto del restante 49%, con un adeguame<span class=\"_ _1\"></span></span>nto<span class=\"_ _1\"></span> </span>nell\u2019esercizio pari a 1.<span class=\"_ _1\"></span>603 migliaia d<span class=\"_ _1\"></span>i Euro (1.478 migl<span class=\"_ _1\"></span>iaia di <span class=\"_ _1\"></span><span class=\"ff2\">E</span>uro nell\u2019es<span class=\"_ _1\"></span>ercizio precedente).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019adeguamento di tali debiti, inclusi tra le passivit\u00e0 finanziarie, \u00e8 conseguenz<span class=\"_ _1\"></span>a dei migliori risultati economico<span class=\"_ _8\"></span><span class=\"ff2\">-<span class=\"_ _26a\"> </span></span>finanziari <span class=\"_ _23\"> </span>reg<span class=\"_ _1\"></span>istrati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _23\"> </span>targ<span class=\"_ _8\"></span><span class=\"ff5\">et <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>dell\u2019aggiorn<span class=\"_ _1\"></span>amento <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>Pia<span class=\"_ _1\"></span>ni <span class=\"_ _23\"> </span>plurie<span class=\"_ _1\"></span>nnali <span class=\"_ _23\"> </span>ori<span class=\"_ _1\"></span>ginariamente <span class=\"_ _21\"> </span>previsti,<span class=\"_ _26a\"> </span></span>nonch\u00e9 all\u2019allungamento del periodo di esercizio dell\u2019opzione con riferimento a Markusson. Il Prezzo delle Put<span class=\"_ _26a\"> </span>&amp; Call option, infatti, <span class=\"_ _1\"></span>\u00e8 correlato agli indic<span class=\"_ _1\"></span>atori economici e fin<span class=\"_ _1\"></span>anziar<span class=\"_ _1\"></span>i futuri <span class=\"_ _1\"></span>delle societ\u00e0 acquisite<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> La <span class=\"_ _26\"> </span>voce <span class=\"_ _26\"> </span>\u201cOneri <span class=\"_ _26\"> </span>f<span class=\"_ _1\"></span>inanziari <span class=\"_ _27\"> </span><span class=\"ff7\">Leases</span>\u201d <span class=\"_ _27\"> </span>si <span class=\"_ _26\"> </span>riferisce <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>gli <span class=\"_ _26\"> </span>interessi <span class=\"_ _26\"> </span>su<span class=\"_ _1\"></span>lle <span class=\"_ _26\"> </span>passivit\u00e0 <span class=\"_ _27\"> </span>finanziar<span class=\"_ _1\"></span>ie <span class=\"_ _26\"> </span>contabilizzate <span class=\"_ _27\"> </span>in<span class=\"_ _26a\"> </span>applicazione al princ<span class=\"_ _1\"></span>ipio contabile IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>Per maggiori dettag<span class=\"_ _1\"></span>li sugli oneri su s<span class=\"_ _1\"></span>trumenti derivati di<span class=\"_ _1\"></span> copertur<span class=\"_ _1\"></span>a tasso si riman<span class=\"_ _1\"></span>da alla successiva Not<span class=\"_ _1\"></span>a 23.<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>utili e perdite su c<span class=\"_ _1\"></span>ambi\u201d<span class=\"_ _1\"></span></span> \u00e8 il seguente:<span class=\"_ _1\"></span> La <span class=\"_ _8\"></span>gest<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>valutaria <span class=\"_ _11\"></span>2022 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>positiva <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>1.895 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _11\"></span>contro <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>valore <span class=\"_ _11\"></span>positivo <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>5<span class=\"_ _1\"></span>89 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>Euro <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ello <span class=\"_ _21\"> </span>sc<span class=\"_ _1\"></span>orso <span class=\"_ _1e\"> </span>esercizio. <span class=\"_ _1e\"> </span>La <span class=\"_ _21\"> </span>g<span class=\"_ _1\"></span>estione <span class=\"_ _1e\"> </span>cambi <span class=\"_ _1e\"> </span>ha <span class=\"_ _1e\"> </span>risentito <span class=\"_ _1e\"> </span>positivamen<span class=\"_ _1\"></span>te <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>alla <span class=\"_ _1e\"> </span>rivalutazione <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>dollaro<span class=\"_ _26a\"> </span>statunitense e del r<span class=\"_ _1\"></span>eal brasiliano rispett<span class=\"_ _1\"></span>o all\u2019Euro.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>16. Imposte sul reddito<span class=\"_ _1\"></span> Il <span class=\"_ _3\"></span>carico fiscale dell\u2019<span class=\"ff2\">esercizio 2022 per <span class=\"_ _3\"></span>imposte correnti, differite atti<span class=\"_ _3\"></span>ve e passive <span class=\"_ _3\"></span>ammonta a 12.932 migliaia <span class=\"_ _3\"></span>di<span class=\"_ _26a\"> </span></span>Euro (12.774 migliai<span class=\"_ _1\"></span>a di Euro nell<span class=\"_ _1\"></span>\u2019esercizio precedent<span class=\"_ _1\"></span>e).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>La composizione de<span class=\"_ _1\"></span>lla voce \u00e8 la seguente:<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>med<span class=\"_ _3\"></span>io l<span class=\"_ _1\"></span>un<span class=\"_ _3\"></span>go<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ba<span class=\"_ _3\"></span>nche<span class=\"_ _26a\"> </span>3.67<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>1.852<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ma deb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>2.40<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>4.569<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari Le<span class=\"_ _3\"></span>ases<span class=\"_ _26a\"> </span>1.06<span class=\"_ _3\"></span>5<span class=\"_ _1ad\"> </span><span class=\"ls42\">927<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al f<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alue<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>hiusur<span class=\"_ _3\"></span>a deg<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>ati<span class=\"_ _26a\"> </span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>intere<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>130<span class=\"_ _eb\"> </span>535<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>br<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>e t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>mi<span class=\"_ _1\"></span>ne<span class=\"_ _3\"></span> v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ban<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>he<span class=\"_ _26a\"> </span>396<span class=\"_ _eb\"> </span>136<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dipe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 33)<span class=\"_ _26a\"> </span>28<span class=\"_ _cb\"> </span><span class=\"ls43\"> -<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _3\"></span>liz<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>biti<span class=\"_ _1af\"> </span><span class=\"ls42\">47<span class=\"_ _b2\"> </span>25<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>824<span class=\"_ _eb\"> </span>567<span class=\"_ _26a\"> </span>One<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>8.56<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>8.611<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _104\"> </span>E<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>alizz<span class=\"_ _8\"></span>a<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i/<span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>u s<span class=\"_ _8\"></span>ald<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>987 <span class=\"_ _170\"> </span>632<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uame<span class=\"_ _3\"></span>nto s<span class=\"_ _1\"></span>aldi c<span class=\"_ _1\"></span>ommer<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>iali<span class=\"_ _26a\"> </span>675 <span class=\"_ _170\"> </span>165<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u s<span class=\"_ _1\"></span>aldi f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>528 <span class=\"_ _1b0\"> </span><span class=\"ls1\">(<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>7)<span class=\"_ _26a\"> </span></span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>azione<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>di c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> (<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>5)<span class=\"_ _1b1\"> </span>(<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>til<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>(pe<span class=\"_ _1\"></span>rdi<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>) s<span class=\"_ _9\"></span>u <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>bi<span class=\"_ _26a\"> </span>1.89<span class=\"_ _3\"></span>5 <span class=\"_ _d5\"> </span><span class=\"ls44\">589<span class=\"_ _26a\"> </span></span>Tra <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>imposte <span class=\"_ _11\"></span>correnti <span class=\"_ _11\"></span>fig<span class=\"_ _1\"></span>ura <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>costo <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>IR<span class=\"_ _1\"></span>AP <span class=\"_ _11\"></span>pari <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>1.<span class=\"_ _1\"></span>179 <span class=\"_ _11\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro, <span class=\"_ _11\"></span>contro <span class=\"_ _11\"></span>1.282<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro<span class=\"_ _26a\"> </span>dell\u2019esercizio precede<span class=\"_ _1\"></span>nte.<span class=\"ff2\"> </span>La <span class=\"_ _8\"></span>rico<span class=\"_ _1\"></span>nciliazione <span class=\"_ _11\"></span>tra <span class=\"_ _11\"></span>l\u2019onere <span class=\"_ _11\"></span>fiscale <span class=\"_ _11\"></span>iscritto <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>\u2019onere <span class=\"_ _11\"></span>fiscale <span class=\"_ _11\"></span>teorico, <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>eterminato<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ulla <span class=\"_ _11\"></span>base <span class=\"_ _11\"></span>delle<span class=\"_ _26a\"> </span>aliquote fiscali teoriche vi<span class=\"_ _1\"></span>genti in Italia, \u00e8 <span class=\"_ _1\"></span>la seguente:<span class=\"_ _1\"></span> Il <span class=\"ff7\">tax rate <span class=\"ff5\">\u00e8 pari al 29,<span class=\"_ _1\"></span>3% contro <span class=\"_ _1\"></span>il 27,8% dell\u2019esercizi<span class=\"_ _1\"></span>o 2021.<span class=\"_ _1\"></span></span></span> Il carico fiscale effettiv<span class=\"_ _1\"></span>o dell\u2019anno \u00e8 stato inf<span class=\"_ _1\"></span>luenzato negativame<span class=\"_ _1\"></span>nte:<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">dal<span class=\"_ _1\"></span>la contabilizzazione de<span class=\"_ _1\"></span>lla riduzione del valore dell\u2019avv<span class=\"_ _1\"></span>iamento \u201cTailong\u201d, fiscalmente non <span class=\"_ _8\"></span></span>rilevante,<span class=\"_ _1\"></span> </span>per 2.957 migliaia d<span class=\"_ _1\"></span>i Euro (con un effe<span class=\"_ _1\"></span>tto negativo sul <span class=\"_ _1\"></span><span class=\"ff7\">tax r<span class=\"_ _1\"></span>ate</span> <span class=\"ff5\">dell\u20191,9%); <span class=\"_ _1\"></span></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">dal<span class=\"_ _1\"></span>l\u2019iscrizione di oneri fin<span class=\"_ _1\"></span>anziari </span>n<span class=\"_ _1\"></span>etti <span class=\"ff5\">non rileva<span class=\"_ _1\"></span>nti fiscalmente e r<span class=\"_ _1\"></span>elativi all\u2019adeguament<span class=\"_ _1\"></span>o dei debiti <span class=\"_ _1\"></span></span><span class=\"fc1\">pe<span class=\"_ _1\"></span>r<span class=\"_ _26a\"> </span></span></span>l\u2019acquisto <span class=\"_ _20\"> </span>delle <span class=\"_ _20\"> </span>q<span class=\"_ _1\"></span>uote <span class=\"_ _20\"> </span>resid<span class=\"_ _1\"></span>ue <span class=\"_ _20\"></span>di <span class=\"_ _20\"> </span>soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _20\"></span>controllate <span class=\"_ _20\"> </span>(<span class=\"_ _1\"></span>No<span class=\"_ _1\"></span><span class=\"ff2\">ta <span class=\"_ _23\"></span>15), <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>ef<span class=\"_ _1\"></span>fetto <span class=\"_ _20\"></span>negat<span class=\"_ _1\"></span>ivo <span class=\"_ _20\"></span>sul <span class=\"_ _23\"></span><span class=\"ff7\">tax <span class=\"_ _20\"></span>rate<span class=\"_ _1\"></span></span> </span>dell\u2019anno pari all\u20191,2% (<span class=\"_ _1\"></span>2,4% nello scors<span class=\"_ _1\"></span>o eserciz<span class=\"_ _1\"></span>io).<span class=\"_ _1\"></span><span class=\"ff2 fc4\"> </span>17. Utile per azione<span class=\"_ _1\"></span> L'utile <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>azione <span class=\"_ _11\"></span>\u201cbase\u201d <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>alcolato <span class=\"_ _11\"></span>dividen<span class=\"_ _1\"></span>do <span class=\"_ _11\"></span>l'ut<span class=\"_ _1\"></span>ile <span class=\"_ _11\"></span>netto <span class=\"_ _20\"></span>attribuibile <span class=\"_ _20\"></span>agli <span class=\"_ _11\"></span>Azioni<span class=\"_ _1\"></span>sti <span class=\"_ _11\"></span>della <span class=\"_ _11\"></span>Ca<span class=\"_ _1\"></span>pogruppo <span class=\"_ _20\"></span>per <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>numero <span class=\"_ _21\"> </span>medi<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>pond<span class=\"_ _1\"></span>erato <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>azioni <span class=\"_ _1e\"> </span>in <span class=\"_ _21\"> </span>circo<span class=\"_ _1\"></span>lazione <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>urante <span class=\"_ _21\"> </span>l'eserc<span class=\"_ _1\"></span>izio, <span class=\"_ _21\"> </span>escl<span class=\"_ _1\"></span>uso <span class=\"_ _21\"> </span>il <span class=\"_ _1e\"> </span>numero <span class=\"_ _1e\"> </span>medio <span class=\"_ _21\"> </span>di <span class=\"_ _1e\"> </span>azion<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>ordinarie <span class=\"_ _23\"></span>acquistate <span class=\"_ _23\"> </span>dalla <span class=\"_ _23\"> </span>Capogrupp<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>o <span class=\"_ _20\"></span>poss<span class=\"_ _1\"></span>edute <span class=\"_ _23\"> </span>come <span class=\"_ _23\"> </span>azioni <span class=\"_ _23\"> </span>propri<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>(Nota <span class=\"_ _23\"></span>39). <span class=\"_ _23\"></span>La <span class=\"_ _23\"></span>Capogruppo <span class=\"_ _23\"></span>ha <span class=\"_ _23\"></span>in<span class=\"_ _26a\"> </span>circolazione esclusivam<span class=\"_ _1\"></span>ente azioni ordinari<span class=\"_ _1\"></span>e.<span class=\"_ _1\"></span> L\u2019utile per azione <span class=\"_ _1\"></span>diluito coincide co<span class=\"_ _1\"></span>n l\u2019utile per azio<span class=\"_ _1\"></span>ne base.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _145\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>mpost<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ul <span class=\"_ _1\"></span>re<span class=\"_ _2\"></span>ddito<span class=\"_ _26a\"> </span>13<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>476<span class=\"_ _131\"> </span>13<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>68<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>mpost<span class=\"_ _1\"></span>e de<span class=\"_ _3\"></span>gli <span class=\"_ _1\"></span>eser<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>eced<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>(<span class=\"_ _3\"></span>44<span class=\"_ _3\"></span>)<span class=\"_ _dd\"> </span>(<span class=\"_ _3\"></span>41<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>mpost<span class=\"_ _1\"></span>e dif<span class=\"_ _2\"></span>f<span class=\"_ _3\"></span>er<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>e att<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>e (n<span class=\"_ _3\"></span>ota 32)<span class=\"_ _26a\"> </span>(<span class=\"_ _3\"></span>52<span class=\"_ _3\"></span>7)<span class=\"_ _7f\"> </span>(8<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>mpost<span class=\"_ _1\"></span>e dif<span class=\"_ _2\"></span>f<span class=\"_ _3\"></span>er<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>e pa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>e <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a 32<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>27 <span class=\"_ _1b2\"> </span><span class=\"ls1\">(<span class=\"_ _3\"></span>33<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>932<span class=\"_ _131\"> </span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>77<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Ut<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> pri<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>de<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>le<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>po<span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>te<span class=\"_ _1b3\"> </span>44<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>09<span class=\"_ _3\"></span>7<span class=\"_ _bf\"> </span>45<span class=\"_ _3\"></span>.885<span class=\"_ _26a\"> </span>Im<span class=\"_ _1\"></span>pos<span class=\"_ _2\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>orica<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>ba<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>'a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>quota<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>orica<span class=\"_ _1b4\"> </span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>3<span class=\"_ _db\"> </span>27,9<span class=\"_ _c4\"> </span>12.802<span class=\"_ _d3\"> </span>27<span class=\"_ _3\"></span>,9<span class=\"_ _26a\"> </span>Eff<span class=\"_ _2\"></span>ett<span class=\"_ _1\"></span>o delle dif<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>e Ir<span class=\"_ _2\"></span>ap c<span class=\"_ _1\"></span>alc<span class=\"_ _1\"></span>olate s<span class=\"_ _1\"></span>u div<span class=\"_ _9\"></span>ersa base<span class=\"_ _117\"> </span><span class=\"ls46\">139<span class=\"_ _26a\"> </span></span>0,3<span class=\"_ _26a\"> </span>484<span class=\"_ _26a\"> </span>1,0<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>enti <span class=\"_ _1\"></span>non<span class=\"_ _3\"></span> t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>abili<span class=\"_ _1b5\"> </span> (49<span class=\"_ _3\"></span>9)<span class=\"_ _db\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>,1)<span class=\"_ _1b6\"> </span> (33<span class=\"_ _3\"></span>0) (0,7)<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> non de<span class=\"_ _3\"></span>ducibili <span class=\"_ _1\"></span>a fin<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ali<span class=\"_ _153\"> </span>1.297<span class=\"_ _80\"> </span>2,9<span class=\"_ _17d\"> </span><span class=\"ls46\">566<span class=\"_ _26a\"> </span></span>1,2<span class=\"_ _26a\"> </span>Dif<span class=\"_ _2\"></span>f<span class=\"_ _3\"></span>ere<span class=\"_ _3\"></span>nze di <span class=\"_ _1\"></span>aliqu<span class=\"_ _3\"></span>ota c<span class=\"_ _1\"></span>on altri <span class=\"_ _1\"></span>pae<span class=\"_ _3\"></span>si<span class=\"_ _1b7\"> </span><span class=\"ls46\">165<span class=\"_ _131\"> </span></span>0,4<span class=\"_ _58\"> </span> <span class=\"_ _1\"></span>(6<span class=\"_ _3\"></span>41<span class=\"_ _3\"></span>) (1,4)<span class=\"_ _26a\"> </span>Eff<span class=\"_ _2\"></span>ett<span class=\"_ _1\"></span>o fisc<span class=\"_ _1\"></span>ale da rialline<span class=\"_ _3\"></span>amen<span class=\"_ _3\"></span>to <span class=\"_ _1\"></span>e riv<span class=\"_ _9\"></span>alutazioni<span class=\"_ _1b\"> </span><span class=\"ls47\"> -<span class=\"_ _ce\"> </span> -<span class=\"_ _66\"> </span></span> (1<span class=\"_ _3\"></span>02) (0,2)<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>mpost<span class=\"_ _1\"></span>e f<span class=\"_ _3\"></span>igur<span class=\"_ _3\"></span>ativ<span class=\"_ _9\"></span>e <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ug<span class=\"_ _3\"></span>li <span class=\"_ _1\"></span>one<span class=\"_ _3\"></span>ri fin<span class=\"_ _3\"></span>anziar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>rela<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>i <span class=\"_ _1\"></span>all\u2019att<span class=\"_ _1\"></span>ualizz<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ione<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>ad<span class=\"_ _3\"></span>egu<span class=\"_ _3\"></span>amen<span class=\"_ _3\"></span>to <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>deb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r acquis<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>di par<span class=\"_ _3\"></span>tec<span class=\"_ _1\"></span>ipazioni<span class=\"_ _26a\"> </span>547<span class=\"_ _131\"> </span><span class=\"ls1\">1,2<span class=\"_ _d6\"> </span>1.114<span class=\"_ _db\"> </span>2,4<span class=\"_ _26a\"> </span></span>I<span class=\"_ _3\"></span>mpost<span class=\"_ _1\"></span>e deg<span class=\"_ _3\"></span>li <span class=\"_ _1\"></span>eserciz<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pre<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ede<span class=\"_ _3\"></span>nti<span class=\"_ _1b8\"> </span> (44<span class=\"_ _3\"></span>)<span class=\"_ _58\"> </span> <span class=\"_ _1\"></span>(0<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>1)<span class=\"_ _f3\"> </span> (41<span class=\"_ _3\"></span>) (0,1)<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>re dif<span class=\"_ _2\"></span>fe<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nze (97<span class=\"_ _3\"></span>6)<span class=\"_ _db\"> </span> <span class=\"_ _1\"></span>(2<span class=\"_ _3\"></span>,2)<span class=\"_ _128\"> </span> <span class=\"_ _1\"></span>(1.078<span class=\"_ _3\"></span>)<span class=\"_ _ef\"> </span> <span class=\"_ _1\"></span>(2,3)<span class=\"_ _26a\"> </span>Cari<span class=\"_ _1\"></span>co fis<span class=\"_ _2\"></span>ca<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _8\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>ttivo<span class=\"_ _26a\"> </span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>93<span class=\"_ _3\"></span>2<span class=\"_ _db\"> </span>29,3 <span class=\"_ _5f\"> </span>12.774<span class=\"_ _d3\"> </span>27<span class=\"_ _3\"></span>,8<span class=\"_ _26a\"> </span>Dati <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gli<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Euro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o 2022%<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>AliquotaE<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o 2021%<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>Aliquota<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o 202<span class=\"_ _2\"></span>2<span class=\"_ _8f\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _c\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span>le att<span class=\"_ _1\"></span>rib<span class=\"_ _2\"></span>uibile<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ai po<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ess<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>di azion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>d<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>rie<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>della<span class=\"_ _3\"></span> Ca<span class=\"_ _3\"></span>po<span class=\"_ _2\"></span>gr<span class=\"_ _3\"></span>up<span class=\"_ _2\"></span>po (\u20ac<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>1.00<span class=\"_ _3\"></span>0)<span class=\"_ _26a\"> </span>30<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>26<span class=\"_ _3\"></span>8<span class=\"_ _f3\"> </span>32<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>50<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>N<span class=\"_ _3\"></span>ume<span class=\"_ _2\"></span>ro<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>di azioni or<span class=\"_ _2\"></span>dina<span class=\"_ _2\"></span>rie in c<span class=\"_ _1\"></span>ircola<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>e - med<span class=\"_ _3\"></span>ia po<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>16<span class=\"_ _2\"></span>3.45<span class=\"_ _3\"></span>1.40<span class=\"_ _3\"></span>0<span class=\"_ _a\"> </span>16<span class=\"_ _3\"></span>3.53<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>60<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pe<span class=\"_ _8\"></span>r a<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> ba<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>(\u20ac<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>0,18<span class=\"_ _2\"></span>5<span class=\"_ _16e\"> </span>0,19<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span>18. Immobilizzazion<span class=\"_ _1\"></span>i materiali <span class=\"_ _1\"></span> La movimentazione d<span class=\"_ _1\"></span>ella voce immo<span class=\"_ _1\"></span>bilizzazioni materi<span class=\"_ _1\"></span>ali \u00e8 di seguito esp<span class=\"_ _1\"></span>osta:<span class=\"_ _1\"></span> Le  immobilizzazi<span class=\"_ _1\"></span>oni  materiali <span class=\"_ _90\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _26\"> </span>Trebol  Maquinaria <span class=\"_ _26\"> </span>y  Suministros <span class=\"_ _26\"> </span>S.A. <span class=\"_ _26\"> </span><span class=\"ff5\">alla  data <span class=\"_ _90\"> </span>d<span class=\"_ _1\"></span>i  entrata  n<span class=\"_ _1\"></span>ell\u2019area <span class=\"_ _90\"> </span>di<span class=\"_ _1\"></span> </span>consolidamento ammo<span class=\"_ _1\"></span>ntano a 34 m<span class=\"_ _1\"></span>igliaia di Euro. <span class=\"_ _8\"></span> Gli incrementi si riferisc<span class=\"_ _1\"></span>ono principalmente <span class=\"_ _1\"></span>ad investimenti:<span class=\"_ _8\"></span> 1.<span class=\"ls1\"> <span class=\"_ _26\"> </span>in attrezzature per lo sv<span class=\"_ _1\"></span>iluppo di nuovi prodo<span class=\"_ _1\"></span>tti e nuov<span class=\"_ _1\"></span>e tecnologie;<span class=\"_ _8\"></span> </span>2.<span class=\"ls1\"> <span class=\"_ _26\"> </span>in adeguamento e mo<span class=\"_ _1\"></span>dernizzazione delle l<span class=\"_ _1\"></span>inee prod<span class=\"_ _1\"></span>uttive;<span class=\"_ _1\"></span> </span>3.<span class=\"ls1\"> <span class=\"_ _26\"> </span>in adeguamento di imp<span class=\"_ _1\"></span>ianti e infrastrutture prod<span class=\"_ _1\"></span>uttive;<span class=\"_ _1\"></span> </span>4.<span class=\"ls1\"> <span class=\"_ _26\"> </span>nel ciclico rinnovo del<span class=\"_ _1\"></span>le attrezzatture pro<span class=\"_ _1\"></span>duttive ed ind<span class=\"_ _1\"></span>ustriali.<span class=\"_ _1\"></span> </span>Non <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>stati <span class=\"_ _8\"></span>rilevati <span class=\"_ _11\"></span>indicatori <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>perdita <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>valore <span class=\"_ _11\"></span>delle <span class=\"_ _8\"></span>immob<span class=\"_ _1\"></span>ilizzazioni <span class=\"_ _11\"></span>materiali, <span class=\"_ _8\"></span>ad <span class=\"_ _11\"></span>eccezione <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>quanto<span class=\"_ _26a\"> </span>ri<span class=\"ls1\">levato con riferimento <span class=\"_ _1\"></span>alla Capogruppo E<span class=\"_ _1\"></span>mak S.p.A. e<span class=\"_ _1\"></span> meglio argomentat<span class=\"_ _1\"></span>o nella Nota 21.<span class=\"_ _8\"></span> </span>Non si segnalano cesp<span class=\"_ _1\"></span>iti soggetti a res<span class=\"_ _1\"></span>trizioni a seguito<span class=\"_ _1\"></span> di garanzie reali pres<span class=\"_ _1\"></span>tate.<span class=\"_ _8\"></span> Nel corso<span class=\"_ _1\"></span> degli <span class=\"_ _1\"></span>anni <span class=\"_ _1\"></span>il Grup<span class=\"_ _1\"></span>po ha <span class=\"_ _1\"></span>beneficiato<span class=\"_ _1\"></span> di a<span class=\"_ _1\"></span>lcuni <span class=\"_ _1\"></span>contributi in<span class=\"_ _1\"></span> conto <span class=\"_ _1\"></span>capit<span class=\"_ _8\"></span>ale <span class=\"_ _1\"></span>erogat<span class=\"_ _1\"></span>i ai <span class=\"_ _1\"></span>sensi <span class=\"_ _1\"></span>della Legg<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>488/92 <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _20\"></span>C<span class=\"_ _1\"></span>omag <span class=\"_ _20\"></span>S.r.<span class=\"_ _1\"></span>l. <span class=\"_ _20\"></span>(dal <span class=\"_ _20\"></span>1 <span class=\"_ _23\"></span>gennaio <span class=\"_ _20\"></span>2015<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>fusa <span class=\"_ _20\"></span>ne<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>societ\u00e0 <span class=\"_ _23\"></span>Emak <span class=\"_ _20\"></span>S.p.A.). <span class=\"_ _20\"></span>I <span class=\"_ _23\"></span>contributi <span class=\"_ _20\"></span>erog<span class=\"_ _1\"></span>ati<span class=\"_ _26a\"> </span>Dati <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>ria<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> a<span class=\"_ _1\"></span>re<span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> di<span class=\"_ _26a\"> </span>cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto<span class=\"_ _26a\"> </span>in <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>ntra<span class=\"_ _1\"></span>ta<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>/<span class=\"_ _26a\"> </span>(A<span class=\"_ _3\"></span>mm<span class=\"_ _1\"></span>orta<span class=\"_ _1\"></span>me<span class=\"_ _8\"></span>nti)<span class=\"_ _26a\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>tto<span class=\"_ _26a\"> </span>ca<span class=\"_ _1\"></span>mbi<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Ricla<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>fiche<span class=\"_ _d\"> </span>31.12.202<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>err<span class=\"_ _3\"></span>eni e Fabb<span class=\"_ _3\"></span>ricat<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>59<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>356<span class=\"_ _41\"> </span><span class=\"ls48\">580<span class=\"_ _de\"> </span></span>(34<span class=\"_ _3\"></span>)<span class=\"_ _cf\"> </span>(4<span class=\"_ _3\"></span>00)<span class=\"_ _e1\"> </span>6<span class=\"_ _d3\"> </span>59<span class=\"_ _3\"></span>.508<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammortamen<span class=\"_ _3\"></span>to<span class=\"_ _26a\"> </span>(2<span class=\"_ _3\"></span>3.949<span class=\"_ _3\"></span>)<span class=\"_ _33\"> </span>(1<span class=\"_ _3\"></span>.563)<span class=\"_ _f0\"> </span><span class=\"ls48\">34<span class=\"_ _f0\"> </span>148<span class=\"_ _84\"> </span><span class=\"ls49\"> -<span class=\"_ _cc\"> </span></span></span>(25<span class=\"_ _3\"></span>.330)<span class=\"_ _26a\"> </span>Te<span class=\"_ _1\"></span>rre<span class=\"_ _1\"></span>ni<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>bbrica<span class=\"_ _1\"></span>ti<span class=\"_ _26a\"> </span>35<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>407<span class=\"_ _cc\"> </span><span class=\"ls49\"> -<span class=\"_ _f3\"> </span></span>(9<span class=\"_ _3\"></span>83)<span class=\"_ _5f\"> </span><span class=\"ls49\"> -<span class=\"_ _93\"> </span></span> <span class=\"_ _1\"></span>(2<span class=\"_ _3\"></span>52)<span class=\"_ _d3\"> </span>6<span class=\"_ _d3\"> </span>34.17<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>mpianti e <span class=\"_ _1\"></span>macc<span class=\"_ _1\"></span>hinar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>12<span class=\"_ _3\"></span>0.416<span class=\"_ _a0\"> </span><span class=\"ls48\">11<span class=\"_ _62\"> </span></span>5.500<span class=\"_ _8d\"> </span>(1.188<span class=\"_ _3\"></span>)<span class=\"_ _bd\"> </span><span class=\"ls48\">952<span class=\"_ _d4\"> </span></span>1.434<span class=\"_ _179\"> </span>127.12<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammortamen<span class=\"_ _3\"></span>to<span class=\"_ _26a\"> </span>(9<span class=\"_ _3\"></span>2.374<span class=\"_ _3\"></span>)<span class=\"_ _2b\"> </span>(1<span class=\"_ _3\"></span>1)<span class=\"_ _de\"> </span>(6.74<span class=\"_ _3\"></span>7)<span class=\"_ _93\"> </span><span class=\"ls48\">942<span class=\"_ _179\"> </span></span>(53<span class=\"_ _3\"></span>7)<span class=\"_ _c7\"> </span> <span class=\"_ _1\"></span>(8<span class=\"_ _3\"></span>2)<span class=\"_ _111\"> </span>(9<span class=\"_ _3\"></span>8.809<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>Im<span class=\"_ _1\"></span>pi<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>cchina<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>28<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>042<span class=\"_ _cc\"> </span><span class=\"ls49\"> -<span class=\"_ _fd\"> </span></span>(1<span class=\"_ _3\"></span>.247)<span class=\"_ _179\"> </span>(24<span class=\"_ _3\"></span>6)<span class=\"_ _112\"> </span><span class=\"ls48\">415<span class=\"_ _d4\"> </span></span>1.352<span class=\"_ _93\"> </span>2<span class=\"_ _3\"></span>8.316<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>re immobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>azioni mat<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>iali<span class=\"_ _26a\"> </span>13<span class=\"_ _3\"></span>4.611<span class=\"_ _56\"> </span><span class=\"ls48\">125<span class=\"_ _183\"> </span></span>5.410<span class=\"_ _8d\"> </span>(2.862)<span class=\"_ _88\"> </span>(<span class=\"_ _3\"></span>138<span class=\"_ _3\"></span>)<span class=\"_ _f0\"> </span>2.389<span class=\"_ _179\"> </span>139.535<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammortamen<span class=\"_ _3\"></span>to<span class=\"_ _26a\"> </span>(1<span class=\"_ _3\"></span>23.04<span class=\"_ _3\"></span>0)<span class=\"_ _178\"> </span>(9<span class=\"_ _3\"></span>1)<span class=\"_ _de\"> </span>(5.53<span class=\"_ _3\"></span>2)<span class=\"_ _8d\"> </span>2.791<span class=\"_ _8d\"> </span><span class=\"ls48\">266<span class=\"_ _fd\"> </span>25<span class=\"_ _89\"> </span></span>(<span class=\"_ _3\"></span>12<span class=\"_ _3\"></span>5.581)<span class=\"_ _26a\"> </span>Altri be<span class=\"_ _8\"></span>ni<span class=\"_ _26a\"> </span>11<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>571<span class=\"_ _c3\"> </span><span class=\"ls48\">34<span class=\"_ _84\"> </span></span>(12<span class=\"_ _3\"></span>2)<span class=\"_ _a5\"> </span>(71)<span class=\"_ _1b9\"> </span><span class=\"ls48\">128<span class=\"_ _d4\"> </span></span>2.414<span class=\"_ _1b9\"> </span>13.95<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Ant<span class=\"_ _3\"></span>icipi<span class=\"_ _1\"></span> <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>cors<span class=\"_ _9\"></span>o<span class=\"_ _1ba\"> </span>3.538<span class=\"_ _de\"> </span><span class=\"ls49\"> -<span class=\"_ _123\"> </span></span>4.939<span class=\"_ _89\"> </span> (56<span class=\"_ _3\"></span>)<span class=\"_ _b3\"> </span><span class=\"ls48\">51<span class=\"_ _16b\"> </span></span> <span class=\"_ _1\"></span>(2.39<span class=\"_ _3\"></span>6)<span class=\"_ _56\"> </span>6.076<span class=\"_ _26a\"> </span>Cos<span class=\"_ _9\"></span>to<span class=\"_ _13c\"> </span>317.92<span class=\"_ _3\"></span>1<span class=\"_ _56\"> </span><span class=\"ls48\">136<span class=\"_ _5f\"> </span></span>16.429<span class=\"_ _12f\"> </span> (4.140<span class=\"_ _3\"></span>)<span class=\"_ _104\"> </span><span class=\"ls48\">465<span class=\"_ _d4\"> </span></span>1.433<span class=\"_ _179\"> </span>332.244<span class=\"_ _26a\"> </span>Amm.<span class=\"_ _1\"></span>to a<span class=\"_ _8\"></span>cc<span class=\"_ _3\"></span>um<span class=\"_ _1\"></span>ula<span class=\"_ _8\"></span>to (nota <span class=\"_ _1\"></span>14)<span class=\"_ _123\"> </span> <span class=\"_ _1\"></span>(23<span class=\"_ _3\"></span>9.363<span class=\"_ _3\"></span>)<span class=\"_ _10d\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>02)<span class=\"_ _1b9\"> </span> (13.84<span class=\"_ _3\"></span>2)<span class=\"_ _12f\"> </span>3.767<span class=\"_ _104\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>23)<span class=\"_ _c3\"> </span> <span class=\"_ _1\"></span>(57<span class=\"_ _3\"></span>)<span class=\"_ _178\"> </span> (249<span class=\"_ _3\"></span>.720)<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>lore<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>o conta<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>e<span class=\"_ _1b1\"> </span>7<span class=\"_ _3\"></span>8.558<span class=\"_ _16b\"> </span><span class=\"ls48\">34<span class=\"_ _62\"> </span></span>2.587<span class=\"_ _c1\"> </span> <span class=\"_ _1\"></span>(37<span class=\"_ _3\"></span>3)<span class=\"_ _178\"> </span><span class=\"ls48\">342<span class=\"_ _cc\"> </span></span>1.<span class=\"_ _1\"></span>376<span class=\"_ _93\"> </span>82.524<span class=\"_ _26a\"> </span>Dati <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _3\"></span>20<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>ria<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> a<span class=\"_ _8\"></span>re<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> di<span class=\"_ _26a\"> </span>cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto<span class=\"_ _26a\"> </span>in <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>ntrata<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nti /<span class=\"_ _26a\"> </span>(A<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>orta<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti)<span class=\"_ _26a\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>tto<span class=\"_ _26a\"> </span>ca<span class=\"_ _1\"></span>mbi<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Ricla<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>fiche<span class=\"_ _a3\"> </span>31.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>err<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>e Fabbr<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ati<span class=\"_ _26a\"> </span>57<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>268<span class=\"_ _d7\"> </span><span class=\"ls4a\">205<span class=\"_ _d9\"> </span></span>(1<span class=\"_ _3\"></span>77)<span class=\"_ _11e\"> </span>1.945<span class=\"_ _5f\"> </span><span class=\"ls4a\">115<span class=\"_ _de\"> </span></span>59<span class=\"_ _3\"></span>.356<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammor<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>(2<span class=\"_ _3\"></span>1.791<span class=\"_ _3\"></span>)<span class=\"_ _63\"> </span>(1.613<span class=\"_ _3\"></span>)<span class=\"_ _5f\"> </span>6<span class=\"_ _ef\"> </span>(5<span class=\"_ _3\"></span>51)<span class=\"_ _84\"> </span><span class=\"ls4b\"> -<span class=\"_ _128\"> </span></span>(23<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>94<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span>Te<span class=\"_ _1\"></span>rre<span class=\"_ _1\"></span>ni<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>bbri<span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>ti<span class=\"_ _26a\"> </span>35<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>477<span class=\"_ _128\"> </span><span class=\"ls4b\"> -<span class=\"_ _f3\"> </span></span>(1.408<span class=\"_ _3\"></span>)<span class=\"_ _c1\"> </span> <span class=\"_ _1\"></span>(17<span class=\"_ _3\"></span>1)<span class=\"_ _bd\"> </span>1.394<span class=\"_ _128\"> </span><span class=\"ls4a\">115<span class=\"_ _de\"> </span></span>35.407<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>mpian<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>e mac<span class=\"_ _1\"></span>chinar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>10<span class=\"_ _3\"></span>9.651<span class=\"_ _a0\"> </span><span class=\"ls4a\">246<span class=\"_ _db\"> </span></span>4.822<span class=\"_ _c1\"> </span>(1.38<span class=\"_ _3\"></span>1)<span class=\"_ _104\"> </span>2.096<span class=\"_ _c7\"> </span>4.<span class=\"_ _1\"></span>982<span class=\"_ _93\"> </span>12<span class=\"_ _3\"></span>0.416<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammor<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>(8<span class=\"_ _3\"></span>5.765<span class=\"_ _3\"></span>)<span class=\"_ _179\"> </span>(23<span class=\"_ _3\"></span>2)<span class=\"_ _128\"> </span>(5.989<span class=\"_ _3\"></span>)<span class=\"_ _c1\"> </span>1.300<span class=\"_ _104\"> </span>(1.688<span class=\"_ _3\"></span>)<span class=\"_ _e1\"> </span><span class=\"ls4b\"> -<span class=\"_ _128\"> </span></span>(92<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>37<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Im<span class=\"_ _1\"></span>pi<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nti<span class=\"_ _1\"></span> e<span class=\"_ _8\"></span> m<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cc<span class=\"_ _3\"></span>hi<span class=\"_ _1\"></span>na<span class=\"_ _1\"></span>ri<span class=\"_ _26a\"> </span>23<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>886<span class=\"_ _1bb\"> </span><span class=\"ls4a\">14<span class=\"_ _d0\"> </span></span>(1.167<span class=\"_ _3\"></span>)<span class=\"_ _f0\"> </span>(81)<span class=\"_ _f0\"> </span><span class=\"ls4a\">408<span class=\"_ _5f\"> </span></span>4.982<span class=\"_ _f0\"> </span>28<span class=\"_ _3\"></span>.042<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>re immobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>azioni m<span class=\"_ _1\"></span>ateria<span class=\"_ _3\"></span>li<span class=\"_ _26a\"> </span>13<span class=\"_ _3\"></span>0.838<span class=\"_ _a0\"> </span><span class=\"ls4a\">330<span class=\"_ _db\"> </span></span>4.775<span class=\"_ _c1\"> </span>(3.09<span class=\"_ _3\"></span>0)<span class=\"_ _104\"> </span>1.487<span class=\"_ _128\"> </span><span class=\"ls4a\">271<span class=\"_ _cc\"> </span></span>134<span class=\"_ _3\"></span>.611<span class=\"_ _26a\"> </span>Fond<span class=\"_ _3\"></span>o ammor<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>amen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>(1<span class=\"_ _3\"></span>19.20<span class=\"_ _3\"></span>7)<span class=\"_ _11e\"> </span>(317<span class=\"_ _3\"></span>)<span class=\"_ _5f\"> </span>(5<span class=\"_ _3\"></span>.347)<span class=\"_ _56\"> </span>2.<span class=\"_ _1\"></span>95<span class=\"_ _3\"></span>1<span class=\"_ _be\"> </span>(1<span class=\"_ _3\"></span>.224)<span class=\"_ _cc\"> </span><span class=\"ls4a\">104<span class=\"_ _89\"> </span></span>(123<span class=\"_ _3\"></span>.040)<span class=\"_ _26a\"> </span>Altri be<span class=\"_ _8\"></span>ni<span class=\"_ _26a\"> </span>11<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>631<span class=\"_ _1bb\"> </span><span class=\"ls4a\">13<span class=\"_ _c2\"> </span></span>(57<span class=\"_ _3\"></span>2)<span class=\"_ _c7\"> </span>(139<span class=\"_ _3\"></span>)<span class=\"_ _1b9\"> </span><span class=\"ls4a\">263<span class=\"_ _1b6\"> </span>375<span class=\"_ _de\"> </span></span>11.571<span class=\"_ _26a\"> </span>Ant<span class=\"_ _3\"></span>icipi<span class=\"_ _1\"></span> <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>cors<span class=\"_ _2\"></span>o<span class=\"_ _17d\"> </span>5.415<span class=\"_ _e1\"> </span><span class=\"ls4b\"> -<span class=\"_ _f2\"> </span></span>3.<span class=\"_ _1\"></span>536<span class=\"_ _c7\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>0)<span class=\"_ _16b\"> </span><span class=\"ls4a\">69<span class=\"_ _7d\"> </span></span> (5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>472<span class=\"_ _3\"></span>)<span class=\"_ _a0\"> </span>3.538<span class=\"_ _26a\"> </span>Cos<span class=\"_ _9\"></span>to<span class=\"_ _8b\"> </span>3<span class=\"_ _3\"></span>03.172<span class=\"_ _b3\"> </span><span class=\"ls4a\">576<span class=\"_ _fd\"> </span></span>13<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>33<span class=\"_ _3\"></span>8<span class=\"_ _178\"> </span> (4<span class=\"_ _3\"></span>.658)<span class=\"_ _10d\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>59<span class=\"_ _3\"></span>7<span class=\"_ _c7\"> </span> (10<span class=\"_ _3\"></span>4)<span class=\"_ _1b9\"> </span>31<span class=\"_ _3\"></span>7.921<span class=\"_ _26a\"> </span>Amm.<span class=\"_ _1\"></span>to a<span class=\"_ _8\"></span>cc<span class=\"_ _3\"></span>um<span class=\"_ _1\"></span>ul<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>to (nota<span class=\"_ _1\"></span> 14)<span class=\"_ _a7\"> </span> <span class=\"_ _1\"></span>(22<span class=\"_ _3\"></span>6.763<span class=\"_ _3\"></span>)<span class=\"_ _12f\"> </span> (5<span class=\"_ _3\"></span>49)<span class=\"_ _f0\"> </span> (12<span class=\"_ _3\"></span>.949)<span class=\"_ _11e\"> </span>4.257<span class=\"_ _10d\"> </span> (3.463<span class=\"_ _3\"></span>)<span class=\"_ _c7\"> </span><span class=\"ls4a\">104<span class=\"_ _1b9\"> </span></span> <span class=\"_ _1\"></span>(2<span class=\"_ _3\"></span>39.36<span class=\"_ _3\"></span>3)<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>lore<span class=\"_ _8\"></span> ne<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>o conta<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>le<span class=\"_ _64\"> </span>76.409<span class=\"_ _1bb\"> </span><span class=\"ls4a\">27<span class=\"_ _66\"> </span>389<span class=\"_ _d4\"> </span></span> <span class=\"_ _1\"></span>(40<span class=\"_ _3\"></span>1)<span class=\"_ _81\"> </span>2.134<span class=\"_ _1b6\"> </span><span class=\"ls4b\"> -<span class=\"_ _fd\"> </span></span>78.558<span class=\"_ _26a\"> </span>vengono accredit<span class=\"_ _1\"></span>ati al co<span class=\"_ _1\"></span>nto econo<span class=\"_ _1\"></span>mico progress<span class=\"_ _1\"></span>ivamente <span class=\"_ _1\"></span>in relazione a<span class=\"_ _1\"></span>lla residu<span class=\"_ _1\"></span>a possibilit\u00e0 <span class=\"_ _1\"></span>di utilizz<span class=\"_ _1\"></span>azione<span class=\"_ _26a\"> </span>dei cespiti a cui si r<span class=\"_ _1\"></span>iferiscono e sono esp<span class=\"_ _1\"></span>osti in bilancio<span class=\"_ _1\"></span> tra i risconti passivi.<span class=\"_ _8\"></span> Tutti i crediti relativi a tali<span class=\"_ _1\"></span> contributi risultano inc<span class=\"_ _1\"></span>assati<span class=\"_ _26a\"> </span>.<span class=\"_ _1\"></span> 19. Immobilizzazion<span class=\"_ _1\"></span>i immateriali<span class=\"_ _1\"></span> Le immobilizzazion<span class=\"_ _1\"></span>i immateriali prese<span class=\"_ _1\"></span>ntano la seguent<span class=\"_ _1\"></span>e movimentazione:<span class=\"_ _8\"></span> I c<span class=\"_ _1\"></span>osti <span class=\"_ _1\"></span>di r<span class=\"_ _1\"></span>icerca <span class=\"_ _1\"></span>direttamen<span class=\"_ _1\"></span>te i<span class=\"_ _1\"></span>mputati <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>conto <span class=\"_ _1\"></span>econom<span class=\"_ _1\"></span>ico a<span class=\"_ _1\"></span>mmontano <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>9.33<span class=\"_ _1\"></span>5 m<span class=\"_ _1\"></span>igliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro, <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>delle<span class=\"_ _26a\"> </span>capitalizzazioni <span class=\"_ _2\"></span>avv<span class=\"_ _1\"></span>enute <span class=\"_ _2\"></span>nel <span class=\"_ _2\"></span>cors<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>dell\u2019esercizio <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>riferiscono <span class=\"_ _2\"></span>princip<span class=\"_ _1\"></span>almente <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _2\"></span>sostenuti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _2\"></span>lo <span class=\"_ _2\"></span>sviluppo<span class=\"_ _26a\"> </span>di nuovi prodotti.<span class=\"_ _26a\"> </span>Gli <span class=\"_ _1\"></span>incremen<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>variazi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>area <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>consolidamento <span class=\"_ _8\"></span>si <span class=\"_ _1\"></span>riferiscon<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>ai <span class=\"_ _1\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>sviluppo, <span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>brevetti <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>software <span class=\"_ _1\"></span>e<span class=\"_ _11\"></span><span class=\"ff3 fs3\"> </span>ai <span class=\"_ _3\"></span>valori<span class=\"_ _1\"></span> d<span class=\"_ _3\"></span><span class=\"ls31\">el<span class=\"ls1\"> <span class=\"_ _3\"></span><span class=\"ff7\">fair value<span class=\"ff2\"> attribuito alla <span class=\"_ _3\"></span>lista clienti <span class=\"_ _3\"></span>e al <span class=\"_ _3\"></span>marchio della societ\u00e0 <span class=\"_ _3\"></span>Trebol<span class=\"_ _1\"></span> Maquinaria y <span class=\"_ _3\"></span>Suministros S.A.<span class=\"_ _1\"></span> </span></span></span></span>in <span class=\"_ _3\"></span>sede di <span class=\"_ _3\"></span><span class=\"ff7\">Purchase Price <span class=\"_ _3\"></span>Allocation (PPA). <span class=\"ff2\">Il <span class=\"_ _3\"></span>valore attribuito <span class=\"_ _3\"></span>al marchio <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>pari a <span class=\"_ _3\"></span>392 migliaia <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i Euro, <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _3\"></span>una<span class=\"_ _26a\"> </span></span></span>vita <span class=\"_ _8\"></span>utile <span class=\"_ _8\"></span>stimata <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>10 <span class=\"_ _8\"></span>anni, <span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>ntre <span class=\"_ _8\"></span>quello <span class=\"_ _8\"></span>attr<span class=\"_ _1\"></span>ibuito <span class=\"_ _8\"></span>alla<span class=\"_ _8\"></span><span class=\"ff7\"> <span class=\"_ _8\"></span>customer <span class=\"_ _8\"></span>relati<span class=\"_ _1\"></span>onship <span class=\"_ _11\"></span></span>\u00e8 <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>ari <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>916 <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro,<span class=\"_ _1\"></span> con una vita utile stim<span class=\"_ _1\"></span>ata in 15 anni.<span class=\"_ _1\"></span> Le <span class=\"_ _1\"></span>Altre <span class=\"_ _8\"></span>im<span class=\"_ _1\"></span>mobilizzazioni <span class=\"_ _8\"></span>immateria<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>includono <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>list<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>cli<span class=\"_ _1\"></span>enti <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>eterminata <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>seguito <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>proc<span class=\"_ _1\"></span>esso<span class=\"_ _26a\"> </span>di <span class=\"ff7\">Purchase Price <span class=\"_ _1\"></span>Allocation</span> de<span class=\"_ _1\"></span>l corrispettivo riconosc<span class=\"_ _1\"></span>iuto per le acquisizi<span class=\"_ _1\"></span>oni di:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _8\"></span>Lavorwash, <span class=\"_ _8\"></span>av<span class=\"_ _1\"></span>venuta <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>orso <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>20<span class=\"_ _1\"></span>17, <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _8\"></span>nett<span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _8\"></span>dicembre <span class=\"_ _11\"></span>2022 <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>4.461<span class=\"_ _1\"></span> </span>migliaia di Euro e co<span class=\"_ _1\"></span>n una vita utile stimata<span class=\"_ _1\"></span> in 14 anni, riten<span class=\"_ _1\"></span>uta tuttora attendib<span class=\"_ _1\"></span>ile;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Sistemas Eletr\u00f4nicos <span class=\"_ _3\"></span>SA, <span class=\"_ _3\"></span>avvenuta nel <span class=\"_ _2\"></span>cors<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>del 2020, <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>un valore <span class=\"_ _2\"></span>netto<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>al 31<span class=\"_ _3\"></span> <span class=\"_ _3\"></span>dicem<span class=\"_ _1\"></span>bre <span class=\"_ _3\"></span>2022<span class=\"_ _26a\"> </span></span>di 1.372 migliaia di Euro<span class=\"_ _1\"></span> e con una v<span class=\"_ _1\"></span>ita utile stim<span class=\"_ _1\"></span>ata in 10 anni;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, avvenuta <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>el <span class=\"_ _3\"></span>corso del <span class=\"_ _2\"></span>202<span class=\"_ _1\"></span>0 <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>un valore ne<span class=\"_ _3\"></span>tto al <span class=\"_ _2\"></span>31 dicembre <span class=\"_ _3\"></span>2022 pari <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>1.100 migliaia<span class=\"_ _26a\"> </span></span>di Euro e vita utile stim<span class=\"_ _1\"></span>ata in 10 anni;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>Poli <span class=\"_ _1\"></span>S.r.l., avvenut<span class=\"_ _1\"></span>a nel corso de<span class=\"_ _1\"></span>l 2021, per u<span class=\"_ _1\"></span>n valore <span class=\"_ _1\"></span>netto al 31 dice<span class=\"_ _1\"></span>mbre 2022 pa<span class=\"_ _8\"></span>ri a <span class=\"_ _1\"></span>2.530 migliaia<span class=\"_ _1\"></span> </span>di Euro al 31 dicembre 2<span class=\"_ _1\"></span>022 e vita ut<span class=\"_ _1\"></span>ile stimata in 14 a<span class=\"_ _1\"></span>nni.<span class=\"_ _1\"></span> Nel <span class=\"_ _8\"></span>corso <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>iniziata <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>\u2019attivit\u00e0 <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>implementazi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>nuovo <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>istema <span class=\"_ _8\"></span>gestional<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>delle <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>Co<span class=\"_ _1\"></span>met<span class=\"_ _26a\"> </span>S.p.A. <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>Lavorwash <span class=\"_ _8\"></span>S.p.<span class=\"_ _1\"></span>A. <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>cui <span class=\"_ _11\"></span><span class=\"ff7 ls31\">go<span class=\"ls1\">-live</span></span> <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>previso <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>2023 <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _8\"></span>ha <span class=\"_ _8\"></span>comport<span class=\"_ _1\"></span>ato <span class=\"_ _8\"></span>costi <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _8\"></span>pari <span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>632<span class=\"_ _26a\"> </span>migliaia di Euro.<span class=\"_ _1\"></span> Dati <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro<span class=\"_ _db\"> </span>31.12.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Va<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>cons<span class=\"_ _2\"></span>ol<span class=\"_ _1\"></span>ida<span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span>in <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>ntra<span class=\"_ _1\"></span>ta<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _22\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _22\"> </span>Ammorta<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>tto<span class=\"_ _26a\"> </span>cam<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Ricla<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _3\"></span>ifiche<span class=\"_ _19e\"> </span>31.12.20<span class=\"_ _3\"></span>22<span class=\"_ _26a\"> </span>Cos<span class=\"_ _9\"></span>ti <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> s<span class=\"_ _3\"></span>vilup<span class=\"_ _1\"></span>po<span class=\"_ _1b0\"> </span>4<span class=\"_ _3\"></span>.656<span class=\"_ _7d\"> </span><span class=\"ls4c\"> -<span class=\"_ _6e\"> </span><span class=\"ls4d\">845<span class=\"_ _f0\"> </span></span> -<span class=\"_ _16b\"> </span></span> <span class=\"_ _1\"></span>(1.670<span class=\"_ _3\"></span>)<span class=\"_ _2b\"> </span><span class=\"ls4d\">141<span class=\"_ _de\"> </span>132<span class=\"_ _c7\"> </span></span>4<span class=\"_ _3\"></span>.104<span class=\"_ _26a\"> </span>Breve<span class=\"_ _1\"></span>tti e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>oftw<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>re<span class=\"_ _cd\"> </span>2.532<span class=\"_ _7d\"> </span><span class=\"ls4c\"> -<span class=\"_ _1bb\"> </span></span>1.756<span class=\"_ _c1\"> </span><span class=\"ls4c\"> -<span class=\"_ _a5\"> </span></span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>.502)<span class=\"_ _93\"> </span><span class=\"ls4d\">19<span class=\"_ _d3\"> </span>208<span class=\"_ _c7\"> </span></span>3.01<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Conc<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _3\"></span>ioni<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>cenz<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>rchi<span class=\"_ _179\"> </span>3.760<span class=\"_ _f0\"> </span><span class=\"ls4d\">392<span class=\"_ _128\"> </span>45<span class=\"_ _ef\"> </span><span class=\"ls4c\"> -<span class=\"_ _d9\"> </span></span></span> (614<span class=\"_ _3\"></span>)<span class=\"_ _16b\"> </span><span class=\"ls4d\">42<span class=\"_ _6e\"> </span></span> <span class=\"_ _1\"></span>(1)<span class=\"_ _c7\"> </span>3.62<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Altre <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>obil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>zz<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>oni<span class=\"_ _1\"></span> I<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ma<span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _184\"> </span>13.022<span class=\"_ _93\"> </span><span class=\"ls4d\">916<span class=\"_ _d4\"> </span>215<span class=\"_ _f0\"> </span><span class=\"ls4c\"> -<span class=\"_ _a5\"> </span></span></span> <span class=\"_ _1\"></span>(2.09<span class=\"_ _3\"></span>4)<span class=\"_ _93\"> </span><span class=\"ls4d\">84<span class=\"_ _183\"> </span>83<span class=\"_ _ef\"> </span></span>12.226<span class=\"_ _26a\"> </span>Ant<span class=\"_ _3\"></span>ici<span class=\"_ _1\"></span>pi <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>obil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>za<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>oni<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>cors<span class=\"_ _2\"></span>o<span class=\"_ _bb\"> </span><span class=\"ls4d\">883<span class=\"_ _6e\"> </span><span class=\"ls4c\"> -<span class=\"_ _1bb\"> </span></span></span>2.442<span class=\"_ _10c\"> </span> (13)<span class=\"_ _d3\"> </span><span class=\"ls4c\"> -<span class=\"_ _62\"> </span></span>1<span class=\"_ _c7\"> </span> (1.79<span class=\"_ _3\"></span>8)<span class=\"_ _cf\"> </span>1.515<span class=\"_ _26a\"> </span>Va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ore<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>tto contabi<span class=\"_ _1\"></span>le<span class=\"_ _1bc\"> </span>24.85<span class=\"_ _3\"></span>3<span class=\"_ _cf\"> </span>1.308<span class=\"_ _c1\"> </span>5.303<span class=\"_ _10c\"> </span> <span class=\"_ _1\"></span>(13<span class=\"_ _3\"></span>)<span class=\"_ _56\"> </span> (5.880)<span class=\"_ _cf\"> </span><span class=\"ls4d\">287<span class=\"_ _93\"> </span></span> (1.376<span class=\"_ _3\"></span>)<span class=\"_ _81\"> </span>24.482<span class=\"_ _26a\"> </span>Dati <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro<span class=\"_ _db\"> </span>31.12.20<span class=\"_ _3\"></span>20<span class=\"_ _26a\"> </span>Va<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>cons<span class=\"_ _2\"></span>ol<span class=\"_ _1\"></span>ida<span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span>in <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>ntra<span class=\"_ _1\"></span>ta<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _22\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _22\"> </span>Ammorta<span class=\"_ _1\"></span>me<span class=\"_ _8\"></span>nti<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>tto<span class=\"_ _26a\"> </span>cam<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Ricla<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _3\"></span>ifiche<span class=\"_ _19e\"> </span>31.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Cos<span class=\"_ _9\"></span>ti <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> s<span class=\"_ _3\"></span>vilup<span class=\"_ _1\"></span>po<span class=\"_ _1bd\"> </span>4.360<span class=\"_ _f0\"> </span><span class=\"ls4e\">200<span class=\"_ _f0\"> </span></span>1<span class=\"_ _3\"></span>.405<span class=\"_ _178\"> </span> <span class=\"_ _1\"></span>(5<span class=\"_ _3\"></span>)<span class=\"_ _93\"> </span> (1.411)<span class=\"_ _93\"> </span><span class=\"ls4e\">11<span class=\"_ _e1\"> </span>96<span class=\"_ _7d\"> </span></span>4.656<span class=\"_ _26a\"> </span>Breve<span class=\"_ _1\"></span>tti e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>oftw<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>re<span class=\"_ _cd\"> </span>2.455<span class=\"_ _c7\"> </span><span class=\"ls4e\">22<span class=\"_ _ef\"> </span></span>1.433<span class=\"_ _178\"> </span> (4)<span class=\"_ _93\"> </span> (1<span class=\"_ _3\"></span>.438)<span class=\"_ _89\"> </span>5<span class=\"_ _62\"> </span><span class=\"ls4e\">59<span class=\"_ _7d\"> </span></span>2.532<span class=\"_ _26a\"> </span>Conc<span class=\"_ _3\"></span>e<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _3\"></span>ioni<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>cenz<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>rchi<span class=\"_ _179\"> </span>4.320<span class=\"_ _1bb\"> </span><span class=\"ls4f\"> -<span class=\"_ _fd\"> </span><span class=\"ls4e\">41<span class=\"_ _ef\"> </span></span> -<span class=\"_ _de\"> </span></span> <span class=\"_ _1\"></span>(60<span class=\"_ _3\"></span>4)<span class=\"_ _ef\"> </span>3<span class=\"_ _f3\"> </span><span class=\"ls4f\"> -<span class=\"_ _d9\"> </span></span>3.<span class=\"_ _1\"></span>760<span class=\"_ _26a\"> </span>Altre <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>mm<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>ria<span class=\"_ _8\"></span>li<span class=\"_ _6a\"> </span>11<span class=\"_ _3\"></span>.650<span class=\"_ _112\"> </span>2.81<span class=\"_ _3\"></span>2<span class=\"_ _c3\"> </span><span class=\"ls4e\">476<span class=\"_ _f0\"> </span><span class=\"ls4f\"> -<span class=\"_ _16b\"> </span></span></span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>908<span class=\"_ _3\"></span>)<span class=\"_ _112\"> </span> (13<span class=\"_ _3\"></span>)<span class=\"_ _6e\"> </span>5<span class=\"_ _1bb\"> </span>13.022<span class=\"_ _26a\"> </span>Ant<span class=\"_ _3\"></span>ici<span class=\"_ _1\"></span>pi <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>obil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>za<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>oni<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>cors<span class=\"_ _2\"></span>o<span class=\"_ _bb\"> </span><span class=\"ls4e\">284<span class=\"_ _6e\"> </span><span class=\"ls4f\"> -<span class=\"_ _6e\"> </span></span>868<span class=\"_ _81\"> </span></span> <span class=\"_ _1\"></span>(10<span class=\"_ _3\"></span>9)<span class=\"_ _7d\"> </span><span class=\"ls4f\"> -<span class=\"_ _62\"> </span> -<span class=\"_ _7d\"> </span></span> (160<span class=\"_ _3\"></span>)<span class=\"_ _a5\"> </span><span class=\"ls4e\">883<span class=\"_ _26a\"> </span></span>Va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ore<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>tto contabi<span class=\"_ _1\"></span>le<span class=\"_ _1bc\"> </span>23<span class=\"_ _3\"></span>.069<span class=\"_ _cf\"> </span>3.034<span class=\"_ _c1\"> </span>4.223<span class=\"_ _88\"> </span> (118<span class=\"_ _3\"></span>)<span class=\"_ _8d\"> </span> <span class=\"_ _1\"></span>(5.361<span class=\"_ _3\"></span>)<span class=\"_ _89\"> </span>6<span class=\"_ _f3\"> </span><span class=\"ls4f\"> -<span class=\"_ _cc\"> </span></span>24.853<span class=\"_ _26a\"> </span>Tutte <span class=\"_ _2\"></span>le <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>mmobilizzazion<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>immateriali <span class=\"_ _3\"></span>hanno <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>ita <span class=\"_ _2\"></span>durevole <span class=\"_ _3\"></span>residua <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>finita <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _2\"></span>ammort<span class=\"_ _1\"></span>izzate <span class=\"_ _2\"></span>a <span class=\"_ _3\"></span>quote <span class=\"_ _2\"></span>costa<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>in base <span class=\"_ _3\"></span>alla vita utile <span class=\"_ _3\"></span>residua ad eccezione <span class=\"_ _3\"></span>del valore del marchio <span class=\"_ _3\"></span>della controll<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>a Lemasa S.A. <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>usa in <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> do <span class=\"_ _8\"></span>Brasil <span class=\"_ _8\"></span>Industria <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>Come<span class=\"_ _1\"></span>rcio <span class=\"_ _8\"></span>de <span class=\"_ _8\"></span>Equipamentos <span class=\"_ _8\"></span>Ltda<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>allocato <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>sede <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisi<span class=\"_ _1\"></span>zione <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>stessa <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>iscritto<span class=\"_ _1\"></span> per un valore di 2.664 <span class=\"_ _1\"></span>migliaia di Rea<span class=\"_ _1\"></span>is, pari a 472 m<span class=\"_ _1\"></span>igliaia di Euro al 31 <span class=\"_ _1\"></span>dicembre 2022.<span class=\"_ _8\"></span> La recuper<span class=\"_ _1\"></span>abilit\u00e0 <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>tale <span class=\"_ _1\"></span>ass<span class=\"_ _1\"></span>et <span class=\"_ _1\"></span>a v<span class=\"_ _1\"></span>ita <span class=\"_ _1\"></span>utile <span class=\"_ _1\"></span>indefinita <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>ggetta <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>test <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span><span class=\"ff7\">impairment</span> <span class=\"_ _8\"></span>eseguito c<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>la pr<span class=\"_ _1\"></span>ocedura<span class=\"_ _26a\"> </span>illustrata alla Nota<span class=\"_ _1\"></span> 21.<span class=\"_ _26a\"> </span>20. Diritti d\u2019uso<span class=\"_ _1\"></span><span class=\"ff4\"> </span>La <span class=\"_ _8\"></span>voce <span class=\"_ _8\"></span>\u201cDiritti <span class=\"_ _11\"></span>d\u2019uso\u201d <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>stata <span class=\"_ _8\"></span>introd<span class=\"_ _1\"></span>otta <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>applicazio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>princ<span class=\"_ _1\"></span>ipio <span class=\"_ _8\"></span>contabile <span class=\"_ _11\"></span>IFRS <span class=\"_ _8\"></span>16 <span class=\"_ _20\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">Leases<span class=\"_ _1\"></span></span> <span class=\"_ _8\"></span>adottato <span class=\"_ _8\"></span>dal<span class=\"_ _1\"></span> </span>Gruppo con <span class=\"ff5\">l\u2019approc<span class=\"_ _1\"></span>cio \u201cretrospettivo <span class=\"_ _1\"></span>modificato\u201d dal 1 <span class=\"_ _1\"></span>gennaio 2019. <span class=\"_ _1\"></span></span> La movimentazione d<span class=\"_ _1\"></span>ella voce \u201cDirit<span class=\"_ _1\"></span>ti d\u2019uso\u201d \u00e8 qui di s<span class=\"_ _1\"></span>eguito esposta:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>La variazione area di consolidamento si riferisce per l\u2019e<span class=\"_ _1\"></span>sercizio 2022 ai contratti di <span class=\"_ _8\"></span><span class=\"ff7\">lease<span class=\"ff2\"> in essere alla data di<span class=\"_ _26a\"> </span></span></span>acquisizione <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>societ\u00e0 <span class=\"_ _2\"></span>T<span class=\"_ _1\"></span>rebol <span class=\"_ _2\"></span>M<span class=\"_ _1\"></span>aquinaria <span class=\"_ _2\"></span>y <span class=\"_ _3\"></span>Suministros <span class=\"_ _3\"></span>S.A; <span class=\"_ _2\"></span>mentre <span class=\"_ _3\"></span>per <span class=\"_ _2\"></span>l\u2019es<span class=\"_ _1\"></span>ercizio <span class=\"_ _2\"></span>2021<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>ai <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ntratti <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"ff7\">lease<span class=\"ff2\"> </span></span>in essere alla data di<span class=\"_ _1\"></span> acqui<span class=\"_ _1\"></span>sizione della societ\u00e0 <span class=\"_ _1\"></span>Poli S.r.l.<span class=\"_ _1\"></span> Gli <span class=\"_ _23\"> </span>inc<span class=\"_ _1\"></span>rementi <span class=\"_ _21\"> </span>dell\u2019esercizi<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>sono <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>elativi <span class=\"_ _21\"> </span>principalme<span class=\"_ _1\"></span>nte <span class=\"_ _21\"> </span>alla <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ottoscrizione <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>nuov<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>contra<span class=\"_ _1\"></span>tti <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1f\"> </span><span class=\"ff7\">lease <span class=\"_ _21\"> </span><span class=\"ff2\">per<span class=\"_ _26a\"> </span></span></span>fabbricati di propriet\u00e0 <span class=\"_ _1\"></span>di terzi<span class=\"_ _1\"></span><span class=\"ff7\">,</span> <span class=\"ff5\">scaduti nell\u2019eserc<span class=\"_ _1\"></span>izio, per attivit\u00e0 s<span class=\"_ _1\"></span>ottostanti identich<span class=\"_ _1\"></span>e.<span class=\"_ _1\"></span></span> 21. Avviamento<span class=\"_ _1\"></span> L\u2019avviamento iscr<span class=\"_ _1\"></span>itto in bilancio al 31 d<span class=\"_ _1\"></span>icembre 2022, <span class=\"_ _1\"></span>pari a 71.216 m<span class=\"_ _1\"></span>igliaia di Euro, \u00e8 di seg<span class=\"_ _1\"></span>uito dettagliato:<span class=\"_ _26a\"> </span> <span class=\"_ _11\"></span><span class=\"ff2\"> </span>Dati <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>ria<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> a<span class=\"_ _8\"></span>re<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _f7\"> </span>A<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ortam<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nti<span class=\"_ _b6\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _0\"> </span>E<span class=\"_ _2\"></span>ffetto ca<span class=\"_ _1\"></span>mbi<span class=\"_ _1\"></span>o<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.202<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>Diritt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> d'us<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>fabbri<span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>ti<span class=\"_ _26a\"> </span>36<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>21<span class=\"_ _3\"></span>7<span class=\"_ _7d\"> </span><span class=\"ls50\">113<span class=\"_ _5f\"> </span></span>4.106<span class=\"_ _11e\"> </span>(5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>85<span class=\"_ _3\"></span>0) -<span class=\"_ _26a\"> </span>416<span class=\"_ _56\"> </span><span class=\"ls1\">35.002<span class=\"_ _26a\"> </span></span>Diritt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> d'us<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>be<span class=\"_ _1\"></span>ni<span class=\"_ _1bc\"> </span>1<span class=\"_ _3\"></span>.448 -<span class=\"_ _26a\"> </span>809<span class=\"_ _a5\"> </span><span class=\"ls1\">(79<span class=\"_ _3\"></span>5)<span class=\"_ _c4\"> </span>(15)<span class=\"_ _1b6\"> </span><span class=\"ls50\">12<span class=\"_ _a5\"> </span></span>1.<span class=\"_ _1\"></span>45<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span></span>Va<span class=\"_ _8\"></span>lore<span class=\"_ _8\"></span> ne<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>o conta<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> (nota <span class=\"_ _1\"></span>14)<span class=\"_ _99\"> </span>37<span class=\"_ _3\"></span>.665<span class=\"_ _7d\"> </span><span class=\"ls50\">113<span class=\"_ _128\"> </span></span>4.<span class=\"_ _1\"></span>91<span class=\"_ _3\"></span>5<span class=\"_ _bd\"> </span> <span class=\"_ _1\"></span>(6.64<span class=\"_ _3\"></span>5)<span class=\"_ _c7\"> </span> (15<span class=\"_ _3\"></span>)<span class=\"_ _d3\"> </span><span class=\"ls50\">428<span class=\"_ _56\"> </span></span>36.46<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Dati <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eur<span class=\"_ _3\"></span>o<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>20<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>ria<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> a<span class=\"_ _8\"></span>re<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span>Incre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _f7\"> </span>A<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ortam<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nti<span class=\"_ _b6\"> </span>Decre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nti<span class=\"_ _10\"> </span>E<span class=\"_ _2\"></span>ffetto ca<span class=\"_ _1\"></span>mbi<span class=\"_ _1\"></span>o<span class=\"_ _8e\"> </span>31<span class=\"_ _3\"></span>.12.202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Diritt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> d'us<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>fabbri<span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>ti<span class=\"_ _26a\"> </span>26<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>56<span class=\"_ _3\"></span>5<span class=\"_ _7d\"> </span><span class=\"ls52\">864<span class=\"_ _cc\"> </span></span>14.273<span class=\"_ _12f\"> </span>(5.34<span class=\"_ _3\"></span>5)<span class=\"_ _c7\"> </span>(<span class=\"_ _3\"></span>229<span class=\"_ _3\"></span>)<span class=\"_ _19c\"> </span><span class=\"ls52\">89<span class=\"_ _89\"> </span></span>36.21<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Diritt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> d'us<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>be<span class=\"_ _1\"></span>ni<span class=\"_ _1bc\"> </span>1<span class=\"_ _3\"></span>.360 -<span class=\"_ _26a\"> </span>825<span class=\"_ _a5\"> </span><span class=\"ls1\">(73<span class=\"_ _3\"></span>7)<span class=\"_ _84\"> </span>(5)<span class=\"_ _68\"> </span>5<span class=\"_ _1bb\"> </span>1.448<span class=\"_ _26a\"> </span></span>Va<span class=\"_ _8\"></span>lore<span class=\"_ _8\"></span> ne<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>o conta<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> (nota <span class=\"_ _1\"></span>14)<span class=\"_ _99\"> </span>27<span class=\"_ _3\"></span>.925<span class=\"_ _7d\"> </span><span class=\"ls52\">864<span class=\"_ _cc\"> </span></span>15.09<span class=\"_ _3\"></span>8<span class=\"_ _104\"> </span> <span class=\"_ _1\"></span>(6.08<span class=\"_ _3\"></span>2)<span class=\"_ _a0\"> </span> <span class=\"_ _1\"></span>(23<span class=\"_ _3\"></span>4)<span class=\"_ _5f\"> </span><span class=\"ls52\">94<span class=\"_ _89\"> </span></span>37<span class=\"_ _3\"></span>.665<span class=\"_ _26a\"> </span>Ca<span class=\"_ _3\"></span>sh Ge<span class=\"_ _2\"></span>nerat<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>ng<span class=\"_ _2\"></span> Un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span> (CGU)<span class=\"_ _26a\"> </span>Pa<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e<span class=\"_ _b6\"> </span><span class=\"ff4\">Des<span class=\"_ _3\"></span>cri<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>one<span class=\"_ _85\"> </span>31.12<span class=\"_ _3\"></span>.20<span class=\"_ _3\"></span>21<span class=\"_ _9e\"> </span>Va<span class=\"_ _3\"></span>riazi<span class=\"_ _3\"></span>one<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>area<span class=\"_ _26a\"> </span></span>Sv<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>utazi<span class=\"_ _3\"></span>oni<span class=\"_ _2\"></span> (Nota 1<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Ef<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>etto Cam<span class=\"_ _2\"></span>bi<span class=\"_ _3\"></span>o<span class=\"_ _b6\"> </span>31.1<span class=\"_ _3\"></span>2.20<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>2<span class=\"_ _26a\"> </span>Victu<span class=\"_ _3\"></span>s<span class=\"_ _1b9\"> </span>Po<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>nia<span class=\"_ _146\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Victus<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>IT<span class=\"_ _26a\"> </span>5.2<span class=\"_ _3\"></span>93<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _1b6\"> </span></span> (93)<span class=\"_ _cf\"> </span>5.20<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ailo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span> <span class=\"_ _b1\"> </span>Cina<span class=\"_ _a4\"> </span>Av<span class=\"_ _9\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g M<span class=\"_ _2\"></span>achine<span class=\"_ _3\"></span>ry<span class=\"_ _1\"></span> Lt<span class=\"_ _3\"></span>d<span class=\"_ _26a\"> </span>2.9<span class=\"_ _3\"></span>09<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _7d\"> </span></span> <span class=\"_ _1\"></span>(2.95<span class=\"_ _3\"></span>7)<span class=\"_ _ef\"> </span><span class=\"ls55\">48</span> -<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _1be\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _9\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in G<span class=\"_ _3\"></span>rupp<span class=\"_ _3\"></span>o T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _26a\"> </span>2.8<span class=\"_ _3\"></span>07<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>2.8<span class=\"_ _3\"></span>07<span class=\"_ _26a\"> </span>Sp<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>ce<span class=\"_ _96\"> </span>Francia<span class=\"_ _99\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Sp<span class=\"_ _3\"></span>eed<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>ce<span class=\"_ _26a\"> </span>2.8<span class=\"_ _3\"></span>54<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>2.8<span class=\"_ _3\"></span>54<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _112\"> </span>Ital<span class=\"_ _2\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _3\"></span>o in G<span class=\"_ _2\"></span>rupp<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> 4.2<span class=\"_ _3\"></span>53<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>4.2<span class=\"_ _3\"></span>53<span class=\"_ _26a\"> </span>PT<span class=\"_ _2\"></span>C <span class=\"_ _a5\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in PT<span class=\"_ _2\"></span>C<span class=\"_ _26a\"> </span>1.2<span class=\"_ _3\"></span>36<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>1.2<span class=\"_ _3\"></span>36<span class=\"_ _26a\"> </span>Va<span class=\"_ _3\"></span>ll<span class=\"_ _2\"></span>ey<span class=\"_ _93\"> </span>U<span class=\"_ _3\"></span>SA<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Va<span class=\"_ _3\"></span>ll<span class=\"_ _2\"></span>ey <span class=\"_ _1\"></span>LL<span class=\"_ _3\"></span>P e A1<span class=\"_ _c0\"> </span>12<span class=\"_ _3\"></span>.866<span class=\"_ _d9\"> </span><span class=\"ls54\"> -<span class=\"_ _68\"> </span> -<span class=\"_ _84\"> </span><span class=\"ls55\">796<span class=\"_ _179\"> </span></span></span>13<span class=\"_ _3\"></span>.662<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _1be\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _26a\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o G<span class=\"_ _2\"></span>eol<span class=\"_ _2\"></span>ine El<span class=\"_ _2\"></span>ectron<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span> S.r.l. iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _3\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _26a\"> </span>S.r.l.<span class=\"_ _26a\"> </span>901<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>901<span class=\"_ _26a\"> </span>S.I.Agro M<span class=\"_ _2\"></span>ex<span class=\"_ _2\"></span>ico<span class=\"_ _25\"> </span>Me<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ico<span class=\"_ _2d\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in S.I.Agro M<span class=\"_ _2\"></span>ex<span class=\"_ _2\"></span>ic<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>634<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>634<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>do<span class=\"_ _3\"></span> Brasil<span class=\"_ _25\"> </span>Bras<span class=\"_ _3\"></span>ile<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o L<span class=\"_ _3\"></span>em<span class=\"_ _2\"></span>asa<span class=\"_ _3\"></span> iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Com<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>do<span class=\"_ _3\"></span> Brasil<span class=\"_ _131\"> </span>8.97<span class=\"_ _2\"></span>5<span class=\"_ _183\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _db\"> </span><span class=\"ls55\">937<span class=\"_ _c1\"> </span></span></span>9.912<span class=\"_ _26a\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>orw<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h<span class=\"_ _a\"> </span>I<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in G<span class=\"_ _3\"></span>rupp<span class=\"_ _2\"></span>o Lav<span class=\"_ _2\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _3\"></span>h<span class=\"_ _83\"> </span>17.49<span class=\"_ _3\"></span>0<span class=\"_ _128\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _75\"> </span></span>-<span class=\"_ _f0\"> </span>1<span class=\"_ _3\"></span>7.49<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>Sp<span class=\"_ _3\"></span>rayc<span class=\"_ _1\"></span>om<span class=\"_ _169\"> </span>Brasil<span class=\"_ _3\"></span>e<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Spraycom<span class=\"_ _1bf\"> </span><span class=\"ls55\">200<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>200<span class=\"_ _26a\"> </span></span>M<span class=\"_ _2\"></span>arkus<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>n<span class=\"_ _df\"> </span>Sv<span class=\"_ _2\"></span>ezia<span class=\"_ _9d\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o iscritt<span class=\"_ _3\"></span>o in M<span class=\"_ _2\"></span>arku<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>on<span class=\"_ _35\"> </span>1<span class=\"_ _3\"></span>.72<span class=\"_ _3\"></span>0<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _e1\"> </span></span> (135<span class=\"_ _3\"></span>)<span class=\"_ _11e\"> </span>1.58<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>Ag<span class=\"_ _3\"></span>res<span class=\"_ _93\"> </span>Brasil<span class=\"_ _3\"></span>e<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Agre<span class=\"_ _3\"></span>s<span class=\"_ _13d\"> </span>6<span class=\"_ _3\"></span>.681<span class=\"_ _19c\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _db\"> </span><span class=\"ls55\">796<span class=\"_ _111\"> </span></span></span>7.47<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Po<span class=\"_ _3\"></span>li<span class=\"_ _128\"> </span>Ital<span class=\"_ _2\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o iscritt<span class=\"_ _2\"></span>o in Pol<span class=\"_ _2\"></span>i<span class=\"_ _59\"> </span>1.8<span class=\"_ _3\"></span>15<span class=\"_ _19c\"> </span><span class=\"ls54\"> -<span class=\"_ _1c0\"> </span> -<span class=\"_ _c3\"> </span></span>1.815<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eb<span class=\"_ _3\"></span>ol<span class=\"_ _111\"> </span>Sp<span class=\"_ _3\"></span>agn<span class=\"_ _2\"></span>a<span class=\"_ _146\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eb<span class=\"_ _3\"></span>ol -<span class=\"_ _e1\"> </span><span class=\"ls1\">1.191<span class=\"_ _fb\"> </span></span> -<span class=\"_ _16b\"> </span><span class=\"ls1\">1.19<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span></span>To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e<span class=\"_ _f8\"> </span>70<span class=\"_ _3\"></span>.634<span class=\"_ _a0\"> </span>1.19<span class=\"_ _3\"></span>1<span class=\"_ _111\"> </span> (2.957<span class=\"_ _2\"></span>)<span class=\"_ _93\"> </span>2.34<span class=\"_ _3\"></span>8<span class=\"_ _10c\"> </span>71<span class=\"_ _3\"></span>.21<span class=\"_ _3\"></span>6<span class=\"_ _26a\"> </span>La <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>ispetto <span class=\"_ _21\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _21\"> </span>3<span class=\"_ _1\"></span>1 <span class=\"_ _21\"> </span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _21\"> </span>2<span class=\"_ _1\"></span>021 <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>iconducibile <span class=\"_ _1e\"> </span>alla <span class=\"_ _1e\"> </span>variazione <span class=\"_ _1e\"> </span>dei <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>ambi <span class=\"_ _21\"> </span>di <span class=\"_ _1e\"> </span>cons<span class=\"_ _1\"></span>olidamento,<span class=\"_ _26a\"> </span>all\u2019acquisizione <span class=\"_ _21\"> </span>della <span class=\"_ _23\"> </span>socie<span class=\"_ _1\"></span>t\u00e0<span class=\"ff2\"> <span class=\"_ _21\"> </span></span>Trebol <span class=\"_ _21\"> </span>Maquinaria <span class=\"_ _23\"> </span>y<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>Suministros<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>S.A. <span class=\"_ _21\"> </span>e <span class=\"_ _23\"> </span>alla <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>valutazione <span class=\"_ _21\"> </span>dell\u2019avviamento <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span>Tailong.<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>allocato alla <span class=\"_ _3\"></span>CGU <span class=\"_ _3\"></span>Victus, pari <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>5.200 migliaia <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>Euro, si <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>ferisce alla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ifferenza emergente<span class=\"_ _26a\"> </span></span></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>prezzo <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>acquisizion<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>100% <span class=\"_ _20\"></span>della <span class=\"_ _11\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>diri<span class=\"_ _8\"></span>tto <span class=\"_ _11\"></span>polacco <span class=\"_ _11\"></span>V<span class=\"_ _1\"></span>ictus-Em<span class=\"_ _1\"></span>ak <span class=\"_ _11\"></span>Sp. <span class=\"_ _11\"></span>Z.o.<span class=\"_ _1\"></span>o. <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>suo<span class=\"_ _26a\"> </span>patrimonio <span class=\"_ _8\"></span>netto <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>data <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>all\u2019acqu<span class=\"_ _1\"></span>isizione <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>ramo <span class=\"_ _8\"></span>d\u2019azi<span class=\"_ _1\"></span>enda <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Victus <span class=\"_ _8\"></span>Internat<span class=\"_ _1\"></span>ional<span class=\"_ _26a\"> </span>Trading SA. Entramb<span class=\"_ _1\"></span>e le acquisizioni s<span class=\"_ _1\"></span>ono state realizzate ne<span class=\"_ _1\"></span>l 2005.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _21\"> </span>relativo <span class=\"_ _23\"> </span>all\u2019a<span class=\"_ _1\"></span>cquisiz</span>i<span class=\"_ _1\"></span>one <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _23\"> </span>Te<span class=\"_ _1\"></span>comec, <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>Gruppo <span class=\"_ _23\"> </span>Co<span class=\"_ _1\"></span>met <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>del <span class=\"_ _23\"> </span>Gruppo <span class=\"_ _21\"> </span>Speed<span class=\"_ _26a\"> </span></span>France da <span class=\"_ _1\"></span>parte di<span class=\"_ _1\"></span> Tecome<span class=\"_ _1\"></span>c S.r.l., r<span class=\"_ _1\"></span>ispettivament<span class=\"_ _1\"></span>e pari<span class=\"_ _1\"></span> a 2.<span class=\"_ _1\"></span>807 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro, 4.<span class=\"_ _1\"></span>253 migl<span class=\"_ _1\"></span>iaia di E<span class=\"_ _1\"></span>uro e<span class=\"_ _26a\"> </span>2.854 migliaia <span class=\"_ _3\"></span>di Euro <span class=\"_ _3\"></span>emergono<span class=\"_ _1\"></span> dall\u2019operazione Greenfield <span class=\"_ _2\"></span>(<span class=\"_ _1\"></span>per maggiori dettagli <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>i rim<span class=\"_ _1\"></span><span class=\"ff2\">anda al prospetto<span class=\"_ _26a\"> </span></span>informativo pubblicato in data 18 no<span class=\"_ _3\"></span>vembre 2011); in conformit\u00e0 a quanto previsto dai principi contabili di<span class=\"_ _26a\"> </span>riferimento le <span class=\"_ _1\"></span>operazioni <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisizione eff<span class=\"_ _1\"></span>ettuate tr<span class=\"_ _1\"></span>a parti s<span class=\"_ _1\"></span>oggette a <span class=\"_ _1\"></span>comune <span class=\"_ _1\"></span>controllo, n<span class=\"_ _1\"></span>on disc<span class=\"_ _1\"></span>iplinate<span class=\"_ _26a\"> </span>pertanto d<span class=\"_ _1\"></span>all\u2019IFRS <span class=\"_ _1\"></span>3,<span class=\"ff2\"> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _1\"></span>state <span class=\"_ _1\"></span>contabilizz<span class=\"_ _1\"></span>ate, t<span class=\"_ _1\"></span>enendo <span class=\"_ _1\"></span>conto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>quanto <span class=\"_ _1\"></span>previst<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>dallo <span class=\"_ _1\"></span>IAS <span class=\"_ _1\"></span>8, <span class=\"_ _1\"></span>ovvero <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>concetto  di  rappresentazio<span class=\"_ _1\"></span>ne  attendibile  e  fedele  dell<span class=\"_ _1\"></span>\u2019operazione,  e  da  quanto  prev<span class=\"_ _1\"></span>isto  dall\u2019OPI  1<span class=\"_ _1\"></span> (orientamenti <span class=\"_ _27\"> </span>preliminari <span class=\"_ _27\"> </span>Ass<span class=\"_ _1\"></span>irevi <span class=\"_ _27\"> </span>in <span class=\"_ _26\"> </span>tema<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>IFRS),<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>r<span class=\"_ _1\"></span>elativo <span class=\"_ _27\"> </span>al <span class=\"_ _26\"> </span>\u201ctrat<span class=\"_ _1\"></span>tamen<span class=\"_ _1\"></span><span class=\"ff2\">t<span class=\"_ _1\"></span>o <span class=\"_ _26\"> </span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _27\"> </span>delle <span class=\"_ _27\"> </span><span class=\"ff7\">busin<span class=\"_ _1\"></span>ess<span class=\"_ _26a\"> </span></span></span>combination of entities under common control<span class=\"ff2\"> <span class=\"ff5\">nel bilancio separato e nel <span class=\"_ _3\"></span>bilancio consolidato\u201d. Come pi\u00f9<span class=\"_ _26a\"> </span></span></span>dettagliatamente <span class=\"_ _21\"> </span>spec<span class=\"_ _1\"></span>ificato <span class=\"_ _21\"> </span>nei <span class=\"_ _21\"> </span>preci<span class=\"_ _1\"></span>tati <span class=\"_ _21\"> </span>principi <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>ontabili, <span class=\"_ _21\"> </span>la <span class=\"_ _21\"> </span>sel<span class=\"_ _1\"></span>ezione <span class=\"_ _21\"> </span>del <span class=\"_ _21\"> </span>prin<span class=\"_ _1\"></span>cipio <span class=\"_ _21\"> </span>contabile <span class=\"_ _1e\"> </span>per <span class=\"_ _21\"> </span>le<span class=\"_ _26a\"> </span>operazioni <span class=\"_ _2\"></span>in <span class=\"_ _2\"></span>esa<span class=\"_ _1\"></span>me <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>stata <span class=\"_ _3\"></span>guidata <span class=\"_ _2\"></span>dagli <span class=\"_ _2\"></span>elemen<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>sopra <span class=\"_ _2\"></span>descr<span class=\"_ _1\"></span>itti, <span class=\"_ _9\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _2\"></span>hanno <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ortato <span class=\"_ _2\"></span>ad <span class=\"_ _2\"></span>applicare <span class=\"_ _3\"></span>il <span class=\"_ _2\"></span>criterio<span class=\"_ _26a\"> </span>della cont<span class=\"_ _1\"></span>inuit\u00e0 dei <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>nette tr<span class=\"_ _1\"></span>asferite. <span class=\"_ _1\"></span>Il princi<span class=\"_ _1\"></span>pio della<span class=\"_ _1\"></span> continuit\u00e0<span class=\"_ _1\"></span> dei <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>dato <span class=\"_ _1\"></span>luogo<span class=\"_ _26a\"> </span>alla r<span class=\"_ _1\"></span>ilevazione <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>b<span class=\"_ _1\"></span>ilancio <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Emak<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>uguali<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span> qu<span class=\"_ _1\"></span>elli <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>sareb<span class=\"_ _1\"></span>bero <span class=\"_ _1\"></span>emersi <span class=\"_ _1\"></span>se <span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e a<span class=\"_ _1\"></span>ttivit\u00e0<span class=\"_ _26a\"> </span>nette oggetto di <span class=\"_ _2\"></span>ag<span class=\"_ _1\"></span>gregazione fossero state <span class=\"_ _3\"></span>unite da <span class=\"_ _3\"></span>sempre. Le attivit\u00e0 <span class=\"_ _3\"></span>nette sono state <span class=\"_ _3\"></span>pertanto rilevate<span class=\"_ _26a\"> </span>ai <span class=\"_ _28\"> </span>va<span class=\"_ _1\"></span>lori <span class=\"_ _29\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>libro <span class=\"_ _29\"> </span>che<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>risultavano<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>dalla <span class=\"_ _29\"> </span>conta<span class=\"_ _1\"></span>bilit\u00e0 <span class=\"_ _29\"> </span>delle <span class=\"_ _29\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _29\"> </span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _29\"> </span>di <span class=\"_ _29\"> </span>acq<span class=\"_ _1\"></span>uisi<span class=\"_ _8\"></span>zione <span class=\"_ _53\"> </span>prima<span class=\"_ _26a\"> </span>dell\u2019operazione.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Nello <span class=\"_ _3\"></span>spec<span class=\"_ _1\"></span>ifico, l<span class=\"_ _3\"></span>a Societ\u00e0 ha <span class=\"_ _3\"></span>optato per <span class=\"_ _3\"></span>contabilizzare la di<span class=\"_ _3\"></span>fferenza riveniente dal maggior <span class=\"_ _2\"></span>pr<span class=\"_ _1\"></span>ezzo pagato<span class=\"_ _26a\"> </span>per <span class=\"_ _11\"></span>l\u2019acquisto <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>partecipazio<span class=\"_ _1\"></span>ni <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>gruppo <span class=\"_ _11\"></span>Tecomec <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>gruppo <span class=\"_ _11\"></span>C<span class=\"_ _1\"></span>omet <span class=\"_ _11\"></span>limitatamente <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>valori <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>i\u00e0<span class=\"_ _26a\"> </span>riconosciuti nel <span class=\"ff5\">bi<span class=\"_ _1\"></span>lancio cons<span class=\"_ _1\"></span>olidato della controllant<span class=\"_ _1\"></span>e Yama all\u2019atto de<span class=\"_ _1\"></span>lle rispettive acquisiz<span class=\"_ _1\"></span>ioni. <span class=\"_ _8\"></span></span> Risultando  i  valori  di  acquisizi<span class=\"_ _1\"></span>one  delle  partecipaz<span class=\"_ _1\"></span>ioni  dell\u2019operazio<span class=\"_ _1\"></span>ne  Greenfield  superiori  a  q<span class=\"_ _1\"></span>uelli<span class=\"_ _26a\"> </span>risultanti <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>lle <span class=\"_ _8\"></span>situazion<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>patr<span class=\"_ _1\"></span>imoniali <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _11\"></span>2011 <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _11\"></span><span class=\"ff5\">societ\u00e0 <span class=\"_ _11\"></span>acquisende, <span class=\"_ _11\"></span>l\u2019eccedenza <span class=\"_ _8\"></span>pari <span class=\"_ _11\"></span>a<span class=\"_ _26a\"> </span></span>33.618 <span class=\"_ _1e\"> </span>migliaia <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>Euro <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>stata <span class=\"_ _1e\"> </span>eliminat<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>rett<span class=\"_ _1\"></span>ificando <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>diminuzione <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>patrimoni<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>netto <span class=\"_ _1f\"> </span>del <span class=\"_ _21\"> </span>b<span class=\"_ _1\"></span>ilancio<span class=\"_ _26a\"> </span>consolidato.<span class=\"_ _26a\"> </span>L\u2019avviamento allocato alla CGU Comet, pari a <span class=\"_ _3\"></span>4.253 migliaia di Euro, i<span class=\"_ _3\"></span>nclude la differenza positiva, <span class=\"_ _1\"></span><span class=\"ff2\">pari a<span class=\"_ _26a\"> </span></span>1.974 <span class=\"_ _1\"></span>migliaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1\"></span>emer<span class=\"_ _1\"></span>sa <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>segu<span class=\"_ _1\"></span>ito <span class=\"_ _1\"></span>dell\u2019acquisizi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>uccessiva <span class=\"_ _1\"></span>fusi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>incorporazione <span class=\"_ _8\"></span>della<span class=\"_ _26a\"> </span>societ\u00e0 <span class=\"_ _23\"> </span>H<span class=\"_ _1\"></span>PP <span class=\"_ _21\"> </span>S.r.l. <span class=\"_ _21\"> </span>in <span class=\"_ _21\"> </span>Com<span class=\"_ _1\"></span>et <span class=\"_ _23\"> </span>S.<span class=\"_ _1\"></span>p.A., <span class=\"_ _21\"> </span>realizzata <span class=\"_ _21\"> </span>nel <span class=\"_ _21\"> </span>2010. <span class=\"_ _21\"> </span>Qu<span class=\"_ _1\"></span>est\u2019ultimo <span class=\"_ _21\"> </span>con <span class=\"_ _21\"> </span>rifer<span class=\"_ _1\"></span>imento <span class=\"_ _21\"> </span>all\u2019eserciz<span class=\"_ _1\"></span>io <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>impairment condotto per il bilancio 202<span class=\"_ _1\"></span>2 \u00e8 stato testat<span class=\"_ _1\"></span>o tramite i flussi derivanti dalla contro<span class=\"_ _1\"></span>llata PTC che<span class=\"_ _26a\"> </span>da tale esercizio ha <span class=\"_ _1\"></span>acquisito tramite<span class=\"_ _1\"></span> affitto di ramo d\u2019a<span class=\"_ _1\"></span>zienda il business<span class=\"_ _1\"></span> HPP.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento al<span class=\"_ _1\"></span>locato alla CGU PTC, <span class=\"_ _1\"></span>pari a 1.236 mig<span class=\"_ _1\"></span>liaia di Euro, si riferisc<span class=\"_ _1\"></span>e:<span class=\"_ _1\"></span></span> </span>-<span class=\"ff2\"> <span class=\"ff5\">pe<span class=\"_ _3\"></span>r 360 m<span class=\"_ _1\"></span>igliaia di Euro a<span class=\"_ _1\"></span>ll\u2019avviamento di un ra<span class=\"_ _1\"></span>mo di az<span class=\"_ _1\"></span>ienda conferito nel 2<span class=\"_ _1\"></span>011 da soci di min<span class=\"_ _1\"></span>oranza<span class=\"_ _26a\"> </span></span></span>in P.T.C. S.r.l., societ\u00e0 <span class=\"_ _1\"></span>appartenente al grupp<span class=\"_ _1\"></span>o Comet;<span class=\"_ _8\"></span> -<span class=\"ff2\"> pe<span class=\"_ _3\"></span>r <span class=\"_ _3\"></span>523 <span class=\"_ _3\"></span>miglia<span class=\"ff5\">ia<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di Euro <span class=\"_ _2\"></span>all\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>em<span class=\"_ _1\"></span>erso <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ede <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>societ\u00e0 <span class=\"_ _3\"></span>Master <span class=\"_ _3\"></span>Fluid S<span class=\"_ _3\"></span>.r.l.<span class=\"_ _1\"></span>,<span class=\"_ _26a\"> </span></span></span>acquisita <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>mese <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>giu<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>2014 <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>P.T.C. <span class=\"_ _11\"></span>S.r.l. <span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>successivamente <span class=\"_ _8\"></span>fusa <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>inc<span class=\"_ _1\"></span>orporazione <span class=\"_ _8\"></span>nella<span class=\"_ _26a\"> </span>stessa. <span class=\"_ _1f\"> </span>L\u2019avviamento  deriva <span class=\"_ _1e\"> </span>dalla  differenza <span class=\"_ _1e\"> </span>che  emerge <span class=\"_ _1e\"> </span>tra  il <span class=\"_ _1e\"> </span>pr<span class=\"_ _8\"></span><span class=\"ff2\">ezzo <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>acq<span class=\"_ _1\"></span>uisizione  ed <span class=\"_ _1e\"> </span>il <span class=\"_ _1f\"> </span>suo<span class=\"_ _26a\"> </span></span>patrimonio netto all<span class=\"_ _1\"></span>a data del 30 giugno <span class=\"_ _1\"></span>2014;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">per <span class=\"_ _23\"> </span>3<span class=\"_ _1\"></span>53 <span class=\"_ _23\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>Euro<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>lla <span class=\"_ _23\"> </span>differ<span class=\"_ _1\"></span>enza <span class=\"_ _21\"> </span>positiva <span class=\"_ _21\"> </span>emersa <span class=\"_ _21\"> </span>a <span class=\"_ _23\"> </span>se<span class=\"_ _1\"></span>guito <span class=\"_ _21\"> </span>dell\u2019acquisizione <span class=\"_ _21\"> </span>e <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>uccess<span class=\"_ _1\"></span>iva<span class=\"_ _26a\"> </span></span></span>fusione per incorporaz<span class=\"_ _1\"></span>ione della societ\u00e0 <span class=\"_ _1\"></span>Acquatecnica <span class=\"_ _1\"></span>S.r.l. in P.T.C. S.r.l. r<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>alizzata nel 2016.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _23\"> </span>all<span class=\"_ _1\"></span>ocato <span class=\"_ _23\"> </span>alla <span class=\"_ _23\"> </span>CG<span class=\"_ _1\"></span>U <span class=\"_ _23\"> </span>Valley, <span class=\"_ _23\"> </span>pari <span class=\"_ _23\"> </span>a <span class=\"_ _23\"> </span>13.662<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>migliaia <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>Euro, <span class=\"_ _23\"> </span>incl<span class=\"_ _1\"></span>ude <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>importo <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>12.188<span class=\"_ _26a\"> </span></span></span>migliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>derivante<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dall\u2019acquisizion<span class=\"_ _1\"></span>e d<span class=\"_ _1\"></span>ella s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>Industr<span class=\"_ _1\"></span>ies <span class=\"_ _1\"></span>LLP <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Com<span class=\"_ _1\"></span>et <span class=\"_ _1\"></span>U.S.A.<span class=\"_ _26a\"> </span>Inc. avvenuta nel me<span class=\"_ _3\"></span>se di febbraio 2012, sorto dalla differenza emergente <span class=\"_ _3\"></span>tra il prezzo di acquisizione ed<span class=\"_ _26a\"> </span>il <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>uo <span class=\"_ _1e\"> </span>patrimonio <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>etto <span class=\"_ _1e\"> </span>e <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>importo <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>1<span class=\"_ _1\"></span>.474 <span class=\"_ _1e\"> </span>migli<span class=\"_ _1\"></span>aia <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>Euro  <span class=\"ff5\">derivante <span class=\"_ _1e\"> </span>dall\u2019<span class=\"_ _1\"></span>acquisizione <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span>ramo<span class=\"_ _26a\"> </span></span>d\u2019azienda A1 Mist <span class=\"_ _1\"></span>Sprayers Resoruces Inc. re<span class=\"_ _1\"></span>alizzata nei prim<span class=\"_ _1\"></span>i mesi del 20<span class=\"_ _1\"></span>17 d<span class=\"_ _1\"></span><span class=\"ff2\">alla stess<span class=\"_ _1\"></span>a Valley.<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _61\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _11\"></span>iscritto <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>901 <span class=\"_ _8\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>riferi<span class=\"_ _1\"></span>sce <span class=\"_ _8\"></span>all\u2019acquisizi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>51% <span class=\"_ _8\"></span>della <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _8\"></span>Ge<span class=\"_ _1\"></span>oline<span class=\"_ _26a\"> </span></span></span>Electronic Srl <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Tec<span class=\"_ _1\"></span>omec S.r.<span class=\"_ _1\"></span>l. avv<span class=\"_ _1\"></span>enuta ne<span class=\"_ _1\"></span>l mese <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>gennaio <span class=\"_ _1\"></span>2014. <span class=\"_ _1\"></span>A <span class=\"_ _1\"></span>seguito <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>operazione <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>scissione totale, avvenuta a fine 2019, la <span class=\"_ _3\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 \u00e8 <span class=\"_ _3\"></span>stat<span class=\"_ _1\"></span>a sciolta con trasferimento del business relativo al<span class=\"_ _26a\"> </span>ramo <span class=\"_ _8\"></span>d\u2019azienda<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>\u201cGruppi <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>comando, <span class=\"_ _8\"></span>valvole <span class=\"_ _8\"></span>el<span class=\"_ _1\"></span>ettriche <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>flussom<span class=\"_ _1\"></span>etri\u201d <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ontrollante <span class=\"_ _8\"></span>Tecomec<span class=\"_ _1\"></span> che prosegue in tale att<span class=\"_ _1\"></span>ivit\u00e0.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _61\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _1\"></span>isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>634 <span class=\"_ _8\"></span>migliaia <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Euro<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iferisce <span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>differenz<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>em<span class=\"_ _1\"></span>ersa <span class=\"_ _1\"></span>nel <span class=\"_ _8\"></span>2014 <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span></span>acquisizione  pagato  da <span class=\"_ _1e\"> </span>Comet  Spa  per <span class=\"_ _1e\"> </span>il  55%<span class=\"_ _1\"></span>  della <span class=\"_ _1e\"> </span>societ<span class=\"_ _1\"></span>\u00e0  S.I.Agro <span class=\"_ _1e\"> </span>Mex<span class=\"_ _1\"></span>ico<span class=\"_ _1\"></span>  (con <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>l  qu<span class=\"_ _3\"></span>ale  veniva<span class=\"_ _26a\"> </span>incrementata <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>artecipazione <span class=\"_ _8\"></span>dal <span class=\"_ _1\"></span>30% <span class=\"_ _8\"></span>all\u2019<span class=\"_ _1\"></span><span class=\"ff2\">85%) <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>patr<span class=\"_ _1\"></span>imonio <span class=\"_ _1\"></span>netto <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>o-<span class=\"_ _1\"></span>quota <span class=\"_ _1\"></span>acquisito. <span class=\"_ _8\"></span>Nel<span class=\"_ _26a\"> </span></span>corso <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>primo <span class=\"_ _20\"> </span>se<span class=\"_ _1\"></span>mestre <span class=\"_ _20\"></span>2019 <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _20\"></span>ha <span class=\"_ _11\"></span>portato <span class=\"_ _20\"> </span>la <span class=\"_ _20\"></span>propria <span class=\"_ _20\"></span>parteci<span class=\"_ _1\"></span>pazione <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>100<span class=\"_ _1\"></span>% <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>\u2019acquisto<span class=\"_ _26a\"> </span>dell\u2019ulteriore 15%. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _30\"> </span><span class=\"ff5\">L\u2019importo p<span class=\"_ _1\"></span>ari a <span class=\"_ _1\"></span>9.912 mig<span class=\"_ _1\"></span>liaia di <span class=\"_ _1\"></span>Euro s<span class=\"_ _1\"></span>i riferisce <span class=\"_ _1\"></span>all\u2019avviamento r<span class=\"_ _1\"></span>ilevato n<span class=\"_ _1\"></span>ell\u2019ambito de<span class=\"_ _1\"></span>ll\u2019acquisizione <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span></span></span>100% della societ\u00e0 <span class=\"_ _1\"></span>Lemasa<span class=\"_ _1\"></span> -ad oggi fusa<span class=\"_ _1\"></span> in Comet do<span class=\"_ _1\"></span> Brasil <span class=\"_ _1\"></span>- avvenuta <span class=\"_ _1\"></span>nel corso del 20<span class=\"_ _1\"></span>15, di cui il 30%<span class=\"_ _26a\"> </span>regolato <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>un\u2019opzione <span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>&amp; <span class=\"_ _8\"></span>Call <span class=\"_ _11\"></span><span class=\"ff2\">esercitata <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>0. <span class=\"_ _8\"></span>Tale <span class=\"_ _8\"></span>avviamento <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>stato <span class=\"_ _8\"></span>isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>differenza<span class=\"_ _26a\"> </span></span></span>tra la <span class=\"_ _1\"></span>stima <span class=\"_ _1\"></span>del v<span class=\"_ _1\"></span>alore <span class=\"_ _1\"></span>attuale <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>prezzo <span class=\"_ _1\"></span>di acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _1\"></span>del 1<span class=\"_ _1\"></span>00%<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>societ<span class=\"_ _1\"></span>\u00e0, d<span class=\"_ _1\"></span>eterminato <span class=\"_ _1\"></span>alla d<span class=\"_ _1\"></span>ata d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>acquisizione, e il <span class=\"ff7\">fa<span class=\"_ _1\"></span>ir value</span> <span class=\"_ _1\"></span>del suo Patrimonio <span class=\"_ _1\"></span>Netto. Nel corso dell\u2019esercizio <span class=\"_ _3\"></span>2016, a seguito di <span class=\"ff7\">impairment test<span class=\"ff2\">, tale <span class=\"_ _3\"></span>avviamento era stato parzialmente ridotto<span class=\"_ _26a\"> </span></span></span>per 4.811 migliaia di <span class=\"_ _1\"></span>Euro. -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019importo <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>17.490 <span class=\"_ _20\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>Euro <span class=\"_ _11\"></span>include <span class=\"_ _20\"> </span>il <span class=\"_ _11\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _11\"></span>dell\u2019avv<span class=\"_ _1\"></span>iamento <span class=\"_ _11\"></span>acqu<span class=\"_ _1\"></span>isito <span class=\"_ _11\"></span>dal <span class=\"_ _20\"></span>consolidamento <span class=\"_ _20\"></span>del<span class=\"_ _26a\"> </span></span></span>Gruppo <span class=\"_ _1\"></span>L<span class=\"_ _1\"></span>avorwash <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>253 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1\"></span>e,<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>17.<span class=\"_ _1\"></span>237 <span class=\"_ _8\"></span>migliaia <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>Euro, <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>parte <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>prezzo <span class=\"_ _8\"></span>allocata<span class=\"_ _26a\"> </span>ad avviamento riferit<span class=\"_ _1\"></span>o all\u2019acquisiz<span class=\"_ _1\"></span>ione del 97,78% del <span class=\"_ _1\"></span>medesimo Grup<span class=\"_ _1\"></span><span class=\"ff2\">p<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span></span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento, <span class=\"_ _20\"></span>iscritto <span class=\"_ _11\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>2<span class=\"_ _1\"></span>018 <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>200 <span class=\"_ _11\"></span>mi<span class=\"_ _1\"></span>gliaia <span class=\"_ _11\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>Eu<span class=\"_ _1\"></span>ro <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rif<span class=\"_ _1\"></span>erisce <span class=\"_ _11\"></span>alla <span class=\"_ _20\"></span>differenz<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>emers<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>tra <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _26a\"> </span></span></span>dell\u2019aumento <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>ciale <span class=\"_ _11\"></span>sottoscritto <span class=\"_ _20\"></span>da <span class=\"_ _11\"></span>Tecomec<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>S.r.l. <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>51%<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _11\"></span>Spraycom<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span></span>patrimonio netto pro-<span class=\"_ _1\"></span>quota ac<span class=\"_ _1\"></span>quisito.<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span>L<span class=\"ff5\">\u2019importo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>1.585 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>riferisce <span class=\"_ _11\"></span>all\u2019avv<span class=\"_ _1\"></span>iamento <span class=\"_ _11\"></span>rilevato <span class=\"_ _11\"></span>nell\u2019ambito <span class=\"_ _20\"></span>dell\u2019acquisizione <span class=\"_ _11\"></span>della<span class=\"_ _26a\"> </span></span></span>societ\u00e0 <span class=\"_ _1e\"> </span>Markuss<span class=\"_ _1\"></span>on <span class=\"_ _1e\"> </span>avvenuta <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>el <span class=\"_ _1e\"> </span>corso <span class=\"_ _1f\"> </span>del <span class=\"_ _1e\"> </span>2020, <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>cui <span class=\"_ _1e\"> </span>il <span class=\"_ _1f\"> </span>49% <span class=\"_ _1e\"> </span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>da <span class=\"_ _1e\"> </span>un\u2019o<span class=\"_ _1\"></span>pzione  <span class=\"ff7\">Put <span class=\"_ _1f\"> </span>&amp; <span class=\"_ _1e\"> </span>Call<span class=\"ff2\">.</span> </span>L\u2019avviamento<span class=\"ff2\">, <span class=\"_ _1\"></span>riferito <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>100%, <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>stato <span class=\"_ _1\"></span>determinat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>quale d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _1\"></span>tra <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit<span class=\"_ _1\"></span>\u00e0 nette <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span></span>prezzo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _23\"></span>che<span class=\"_ _1\"></span>, <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>oggetto <span class=\"_ _23\"></span>di <span class=\"_ _21\"> </span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t <span class=\"_ _23\"> </span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>C<span class=\"_ _1\"></span>all <span class=\"_ _21\"> </span>o<span class=\"_ _1\"></span>ption</span>, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>oggetto <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>valorizz<span class=\"_ _1\"></span>azione <span class=\"_ _23\"> </span>in<span class=\"_ _26a\"> </span>funzione <span class=\"_ _12\"> </span>dei <span class=\"_ _12\"> </span>risultati <span class=\"_ _12\"> </span>economico<span class=\"_ _1\"></span>-<span class=\"ff5\">finanziari<span class=\"_ _1\"></span> <span class=\"_ _12\"> </span>futuri, <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>valore <span class=\"_ _12\"> </span>dell\u2019avviam<span class=\"_ _1\"></span>ento, <span class=\"_ _12\"> </span>quindi, <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>stat<span class=\"_ _1\"></span></span>o <span class=\"_ _12\"> </span>iscritto<span class=\"_ _26a\"> </span>inizialmente <span class=\"_ _2\"></span>utilizz<span class=\"_ _1\"></span>ando <span class=\"_ _2\"></span>la <span class=\"_ _2\"></span>miglior <span class=\"_ _2\"></span>stima <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>valore <span class=\"_ _2\"></span>attual<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>prezzo <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>eserc<span class=\"_ _1\"></span>izio <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>opzio<span class=\"_ _1\"></span>ni, <span class=\"_ _2\"></span>determinato<span class=\"_ _26a\"> </span>sulla base del relativo <span class=\"_ _1\"></span><span class=\"ff7\">business plan<span class=\"_ _1\"></span></span>.<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\"></span><span class=\"ff5\">L\u2019importo <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>477 <span class=\"_ _8\"></span>migliai<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Eur<span class=\"_ _1\"></span>o</span> <span class=\"_ _11\"></span><span class=\"ff5\">include <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _8\"></span>dell\u2019avvia<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>riferito <span class=\"_ _11\"></span>alla <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Agres, <span class=\"_ _11\"></span>acquisita<span class=\"_ _26a\"> </span></span></span>nel corso del 2020. L\u2019avviamento \u00e8 <span class=\"_ _3\"></span>stato determi<span class=\"_ _1\"></span>nato quale differenza tra il <span class=\"ff7\">fair value<span class=\"ff2\"> delle attivit\u00e0 nette e<span class=\"_ _26a\"> </span></span></span>il prezzo <span class=\"_ _1\"></span>di acq<span class=\"_ _1\"></span>uisizione c<span class=\"_ _1\"></span>he, per<span class=\"_ _1\"></span> la <span class=\"_ _1\"></span>parte ogget<span class=\"_ _1\"></span>to di <span class=\"_ _8\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>&amp; Ca<span class=\"_ _1\"></span>ll opt<span class=\"_ _1\"></span>ion</span>, \u00e8<span class=\"_ _1\"></span> stato <span class=\"_ _1\"></span>valorizz<span class=\"_ _1\"></span>ato in <span class=\"_ _1\"></span>funzione <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>risultati <span class=\"_ _1e\"> </span>economico<span class=\"_ _1\"></span>-finanzi<span class=\"_ _1\"></span>ari <span class=\"_ _1e\"> </span>previst<span class=\"_ _1\"></span>i<span class=\"ff5\">; <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>valore <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>ell\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>tato <span class=\"_ _1e\"> </span>quindi  iscritto <span class=\"_ _21\"> </span>orig<span class=\"_ _1\"></span>inariamente<span class=\"_ _26a\"> </span></span>utilizzando la miglior stima del valore attuale del prezzo di esercizio delle opzioni, determinato<span class=\"_ _1\"></span> sulla <span class=\"_ _1\"></span>base<span class=\"_ _26a\"> </span>del relativo <span class=\"ff7\">busines<span class=\"_ _1\"></span>s plan</span>.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _8\"></span>iscritto <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>1.815 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>20<span class=\"_ _1\"></span>21, <span class=\"_ _1\"></span>emerge <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Poli<span class=\"_ _26a\"> </span></span></span>quale <span class=\"_ _1\"></span>differenza <span class=\"_ _1\"></span>tra<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>valu<span class=\"_ _1\"></span>e</span> <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ette <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>prezz<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _1\"></span>che,<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>oggetto<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>Put <span class=\"_ _1e\"> </span>&amp;  Call <span class=\"_ _1e\"> </span><span class=\"ff2\">option <span class=\"_ _1f\"> </span>riferito  al <span class=\"_ _21\"> </span>2<span class=\"_ _1\"></span>0% <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>lla <span class=\"_ _1e\"> </span>soc<span class=\"_ _1\"></span>iet\u00e0,  \u00e8 <span class=\"_ _1e\"> </span>oggetto  di <span class=\"_ _1e\"> </span>valorizzazione  in <span class=\"_ _1e\"> </span>funzione  dei <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>isultati<span class=\"_ _26a\"> </span></span>economico-<span class=\"ff5\">finanz<span class=\"_ _1\"></span>iari <span class=\"_ _1e\"> </span>futuri<span class=\"_ _1\"></span>. <span class=\"_ _1f\"> </span>L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8  stato <span class=\"_ _1e\"> </span>quindi  iscritto <span class=\"_ _1e\"> </span>originariamente<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>tenen<span class=\"_ _1\"></span>do <span class=\"_ _1e\"> </span>conto  della<span class=\"_ _26a\"> </span></span>miglior stima del valore attuale del prezzo di esercizio<span class=\"_ _1\"></span> di tali opzioni, determinato<span class=\"_ _1\"></span> sulla base del <span class=\"ff7\">business<span class=\"_ _26a\"> </span></span>plan <span class=\"ff2\">della Societ\u00e0 <span class=\"_ _1\"></span>Poli S.r.l.<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>riferito alla <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>ciet\u00e0 <span class=\"_ _3\"></span>Trebol Maquinaria <span class=\"_ _3\"></span>y Suministros <span class=\"_ _3\"></span>S.A \u00e8 <span class=\"_ _2\"></span>stato iscritto <span class=\"_ _3\"></span>al 31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>2022<span class=\"_ _26a\"> </span></span></span>per <span class=\"_ _8\"></span>1.1<span class=\"_ _1\"></span>91 <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _8\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _11\"></span>tra <span class=\"_ _8\"></span>il <span class=\"_ _20\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>delle <span class=\"_ _8\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _11\"></span>nette <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>30 <span class=\"_ _11\"></span>settembre <span class=\"_ _11\"></span>2022 <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>prezzo di acquisizio<span class=\"_ _1\"></span>ne riferito all\u2019 83,33%<span class=\"_ _1\"></span> della societ\u00e0.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Impairment test<span class=\"_ _1\"></span> Il <span class=\"_ _1\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>verifica <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>rec<span class=\"_ _1\"></span>uperabilit\u00e0 <span class=\"_ _8\"></span>dell\u2019av<span class=\"_ _1\"></span>viamento <span class=\"_ _8\"></span>almeno <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>volta <span class=\"_ _8\"></span>l\u2019anno <span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>pi\u00f9 <span class=\"_ _8\"></span>frequentem<span class=\"_ _1\"></span>ente <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>vi <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>indicatori <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>perdita <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>valor<span class=\"_ _1\"></span>e. <span class=\"_ _11\"></span>Tale <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>erifica <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>effettuata<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>attraverso <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>determinazio<span class=\"_ _1\"></span>ne <span class=\"_ _11\"></span>del<span class=\"_ _1\"></span><span class=\"ff8\"> <span class=\"_ _11\"></span></span>valore <span class=\"_ _11\"></span>recuperabile<span class=\"_ _26a\"> </span>della <span class=\"ff7\">Cash Generat<span class=\"_ _1\"></span>ing Unit<span class=\"_ _1\"></span></span> <span class=\"ff5\">(CGU) di riferiment<span class=\"_ _1\"></span>o, tramite il metodo d<span class=\"_ _1\"></span>el \u201c<span class=\"ff7\">D<span class=\"_ _1\"></span>iscounted c<span class=\"_ _1\"></span>ash flow</span>\u201d. <span class=\"_ _1\"></span></span> I piani, l<span class=\"_ _3\"></span>e metodologie e i <span class=\"_ _3\"></span>risultati dell\u2019 \u201c<span class=\"fff\">impairment test<span class=\"_ _1\"></span>\u201d<span class=\"ff2\"> come sopra i<span class=\"_ _3\"></span>llustrati sono stati approvati dal <span class=\"_ _3\"></span>Consigl<span class=\"_ _1\"></span>io<span class=\"_ _26a\"> </span></span></span>di Amministrazione <span class=\"_ _1\"></span>in data 28 febbra<span class=\"_ _1\"></span>io 2023, con il par<span class=\"_ _1\"></span>ere del Comitato Con<span class=\"_ _1\"></span>trollo Rischi e Sos<span class=\"_ _1\"></span>tenibilit\u00e0<span class=\"_ _8\"></span><span class=\"ff8\">.<span class=\"_ _26a\"> </span></span>I piani pluri<span class=\"_ _1\"></span>ennali sono i<span class=\"_ _1\"></span>noltre s<span class=\"_ _1\"></span>tati oggetto di <span class=\"_ _1\"></span>approvaz<span class=\"_ _1\"></span>ione da parte <span class=\"_ _1\"></span>dei rispett<span class=\"_ _1\"></span>ivi <span class=\"_ _8\"></span>Consigli <span class=\"_ _1\"></span>di Amm<span class=\"_ _1\"></span>inistrazione<span class=\"_ _26a\"> </span>delle sub-holding <span class=\"_ _1\"></span>a cui appartien<span class=\"_ _1\"></span>e ogni CGU.<span class=\"_ _1\"></span> I <span class=\"_ _20\"></span>fattori <span class=\"_ _20\"></span>che <span class=\"_ _20\"></span>hanno <span class=\"_ _23\"></span>maggiore <span class=\"_ _20\"></span>rilevanza <span class=\"_ _20\"></span>nelle <span class=\"_ _20\"></span>st<span class=\"_ _1\"></span>ime <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>flussi <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>cassa <span class=\"_ _20\"></span>futuri <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>riconducibili <span class=\"_ _20\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _20\"></span>difficolt\u00e0<span class=\"_ _26a\"> </span>intrinseca della <span class=\"_ _3\"></span>formulazion<span class=\"_ _1\"></span>e di <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>isioni future, alla <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>alizzabili<span class=\"_ _1\"></span>t\u00e0 di <span class=\"_ _3\"></span>strategie di mercato <span class=\"_ _3\"></span>in contesti <span class=\"_ _3\"></span>altamente<span class=\"_ _1\"></span> competitivi, <span class=\"_ _11\"></span>nonch\u00e9 <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>rischi <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>natura <span class=\"_ _11\"></span>macroeconomica <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>geo<span class=\"_ _1\"></span>-po<span class=\"_ _1\"></span>litica <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onnessi <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>geografiche <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>cui<span class=\"_ _26a\"> </span>opera il Gruppo Emak.<span class=\"_ _1\"></span> Il <span class=\"ff7\">Ma<span class=\"_ _1\"></span>nagement</span> <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>tenuto <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onto nel<span class=\"_ _1\"></span>le pro<span class=\"_ _1\"></span>prie str<span class=\"_ _1\"></span>ategie <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>business <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>rischi <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>opportun<span class=\"_ _1\"></span>it\u00e0 di <span class=\"_ _11\"></span><span class=\"ff7\">transizione</span> climate-related<span class=\"ff2\"> <span class=\"_ _21\"> </span>che <span class=\"_ _23\"> </span>ma<span class=\"_ _1\"></span>ggiormente <span class=\"_ _21\"> </span>potrebbero <span class=\"_ _21\"> </span>influenz<span class=\"_ _1\"></span>are <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>fl<span class=\"_ _1\"></span>ussi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>assa <span class=\"_ _23\"> </span>fut<span class=\"_ _1\"></span>uri <span class=\"_ _23\"> </span>declinand<span class=\"_ _1\"></span>oli <span class=\"_ _23\"> </span>sui <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>eguenti<span class=\"_ _26a\"> </span></span>aspetti principali:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>Evoluz<span class=\"_ _1\"></span>ione normativa d<span class=\"_ _1\"></span>ei pro<span class=\"_ _1\"></span>dotti;<span class=\"_ _26a\"> </span></span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Evoluz<span class=\"_ _1\"></span>ione delle pr<span class=\"_ _1\"></span>eferenze dei consumat<span class=\"_ _1\"></span>ori;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Sup<span class=\"_ _1\"></span>ply-chain dei fattor<span class=\"_ _1\"></span>i energetici.<span class=\"_ _1\"></span> </span>I<span class=\"ff2\">l t<span class=\"_ _1\"></span>asso <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>sconto <span class=\"_ _1\"></span>ut<span class=\"_ _1\"></span>ilizzato <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>attualizzare<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>flussi <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _1\"></span>futuri<span class=\"_ _1\"></span> att<span class=\"_ _1\"></span>esi <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>stato <span class=\"_ _1\"></span>determi<span class=\"_ _1\"></span>nato <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>singo<span class=\"_ _1\"></span>la CG<span class=\"_ _1\"></span>U.<span class=\"_ _26a\"> </span></span>Tale <span class=\"_ _8\"></span>tasso <span class=\"_ _8\"></span>(<span class=\"ff7\">WACC</span>) <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iflette <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>valutazi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>corrente <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>mercato <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>tempor<span class=\"_ _1\"></span>ale <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>denaro <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>periodo<span class=\"_ _26a\"> </span>considerato e i rischi speci<span class=\"_ _1\"></span>fici delle societ\u00e0 de<span class=\"_ _1\"></span>l Gruppo Emak e de<span class=\"_ _1\"></span>i settori di riferi<span class=\"_ _1\"></span>mento.<span class=\"_ _8\"></span> Al fine d<span class=\"_ _1\"></span>i effettuare <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>test di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span><span class=\"ff7\">impairment<span class=\"_ _1\"></span></span> sulla r<span class=\"_ _1\"></span>ecuperabilit\u00e0 <span class=\"_ _1\"></span>dei va<span class=\"_ _1\"></span>lori di <span class=\"_ _1\"></span>avviament<span class=\"_ _1\"></span>o, il <span class=\"_ _1\"></span><span class=\"ff7\">d<span class=\"_ _1\"></span>iscounted <span class=\"_ _1\"></span>cash <span class=\"_ _1\"></span>flow</span> <span class=\"ls31\">\u00e8<span class=\"_ _26a\"> </span></span>stato calcolato sulla base <span class=\"_ _1\"></span>delle seguent<span class=\"_ _1\"></span>i ipotesi:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>i <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>assa <span class=\"_ _23\"> </span>son<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>quel<span class=\"_ _1\"></span>li <span class=\"_ _23\"></span>desunti <span class=\"_ _21\"> </span>dai <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>iani <span class=\"_ _23\"> </span>trien<span class=\"_ _1\"></span>nali <span class=\"_ _23\"> </span>o <span class=\"_ _23\"> </span>q<span class=\"_ _1\"></span>uinquennali <span class=\"_ _21\"> </span>delle <span class=\"_ _23\"> </span>soc<span class=\"_ _1\"></span>iet\u00e0, <span class=\"_ _23\"> </span>approv<span class=\"_ _1\"></span>ati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>Consiglio di <span class=\"_ _1\"></span>Amministraz<span class=\"_ _1\"></span>ione, che r<span class=\"_ _1\"></span>appresenta<span class=\"_ _1\"></span>no la m<span class=\"_ _1\"></span>iglior stima <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span><span class=\"ff7\">Managem<span class=\"_ _1\"></span>ent</span> r<span class=\"_ _1\"></span>elativamente <span class=\"_ _1\"></span>alle<span class=\"_ _26a\"> </span>performance operative f<span class=\"_ _1\"></span>uture delle sing<span class=\"_ _1\"></span>ole entit\u00e0 nel period<span class=\"_ _1\"></span>o considerato; <span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>tali <span class=\"_ _3\"></span>flussi sono riferiti alle unit\u00e0 di <span class=\"_ _3\"></span>riferi<span class=\"_ _1\"></span>mento nelle condizioni attuali ed escludono eventuali operazioni<span class=\"_ _1\"></span> </span>di natura non ordinar<span class=\"_ _1\"></span>ia e/o operazion<span class=\"_ _1\"></span>i non ancora definite <span class=\"_ _1\"></span><span class=\"ff5\">al<span class=\"_ _1\"></span>la data di chiusura d<span class=\"_ _1\"></span>ell\u2019esercizio; <span class=\"_ _8\"></span></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>i flussi di cassa futuri attesi s<span class=\"_ _1\"></span>ono stati stimati nelle sing<span class=\"_ _1\"></span>ole valute in cui gli stess<span class=\"_ _1\"></span>i saranno ge<span class=\"_ _1\"></span>nerati; <span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>i <span class=\"_ _11\"></span>flussi <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>cas<span class=\"_ _1\"></span>sa <span class=\"_ _11\"></span>fu<span class=\"_ _1\"></span>turi <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>ttesi <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>riferiti <span class=\"_ _20\"></span>ad <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>periodo <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>3/5 <span class=\"_ _20\"></span>ann<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>includon<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>un <span class=\"_ _11\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>inale<span class=\"_ _26a\"> </span></span>norm<span class=\"ff5\">alizzato <span class=\"_ _21\"> </span>impiegato <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>esprimere <span class=\"_ _21\"> </span>una <span class=\"_ _23\"> </span>st<span class=\"_ _1\"></span>ima <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>intetica <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>risultat<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>futuri <span class=\"_ _21\"> </span>oltr<span class=\"_ _1\"></span>e <span class=\"_ _23\"> </span>l\u2019arco <span class=\"_ _21\"> </span>temporal<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>esplicitamente considerat<span class=\"_ _1\"></span>o;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ls21\">i <span class=\"_ _1e\"> </span></span><span class=\"ff7\">WACC</span> <span class=\"_ _21\"> </span><span class=\"ff5\">utilizzati <span class=\"_ _21\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _21\"> </span>l\u2019attualizzazione <span class=\"_ _1e\"> </span>dei <span class=\"_ _23\"> </span>fl<span class=\"_ _1\"></span>ussi <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>cass<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>futuri <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>eterminati <span class=\"_ _21\"> </span>sul<span class=\"_ _1\"></span>la <span class=\"_ _21\"> </span>base <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>elle<span class=\"_ _26a\"> </span></span></span>seguenti assunzioni:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>il <span class=\"_ _3\"></span>costo del <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>bito rifl<span class=\"_ _3\"></span>ette un <span class=\"_ _3\"></span>costo del <span class=\"_ _2\"></span>debit<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>a valori <span class=\"_ _3\"></span>di mercato, <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>eterminato come <span class=\"_ _3\"></span>somma del<span class=\"_ _26a\"> </span></span>tasso <span class=\"_ _8\"></span>IRS/SWAP <span class=\"_ _11\"></span>dell\u2019area <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>riferi<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>sc<span class=\"_ _1\"></span>adenza <span class=\"_ _8\"></span>10 <span class=\"_ _8\"></span>anni <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>rendime<span class=\"_ _1\"></span>nto <span class=\"_ _8\"></span>medio <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>6<span class=\"_ _26a\"> </span>mesi preceden<span class=\"_ _1\"></span>ti al 31 <span class=\"_ _1\"></span>dicembre 20<span class=\"_ _1\"></span>22 a cu<span class=\"_ _1\"></span>i \u00e8 a<span class=\"_ _1\"></span>ggiunto <span class=\"_ _1\"></span>uno <span class=\"_ _1\"></span><span class=\"ff7\">sprea<span class=\"_ _1\"></span>d</span> determi<span class=\"_ _1\"></span>nato s<span class=\"_ _1\"></span>ulla base d<span class=\"_ _1\"></span>el<span class=\"_ _26a\"> </span>costo di indebitamento e<span class=\"_ _1\"></span>ffettivo relativo a<span class=\"_ _1\"></span>i finanziamenti corr<span class=\"_ _1\"></span>enti del Gruppo;<span class=\"_ _8\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _2f\"> </span>il costo del capitale proprio riflette il rendimento dei titoli stato a 10 a<span class=\"_ _3\"></span>nni <span class=\"_ _1\"></span><span class=\"ff7\">(risk free)</span> medio dei 6<span class=\"_ _26a\"> </span></span>mesi <span class=\"_ _23\"></span>precedenti <span class=\"_ _23\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>31 <span class=\"_ _23\"> </span>dicembre <span class=\"_ _21\"> </span>2022 <span class=\"_ _23\"> </span>aumentat<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>pr<span class=\"_ _1\"></span>emio <span class=\"_ _23\"></span>per <span class=\"_ _23\"> </span>il <span class=\"_ _23\"> </span>risc<span class=\"_ _1\"></span>hio <span class=\"_ _23\"></span>di <span class=\"_ _23\"> </span>mercato <span class=\"_ _23\"> </span>e<span class=\"_ _1\"></span> ponderato per un <span class=\"ff7\">beta levered </span>specifico di settore<span class=\"ff7 ls2a\">, </span>considerando altres\u00ec un <span class=\"ff7\">execution risk</span> pari<span class=\"_ _26a\"> </span>all\u20191% <span class=\"_ _8\"></span><span class=\"ff2\">al <span class=\"_ _8\"></span>fine<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tenere <span class=\"_ _11\"></span>prudenzialment<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>nsiderazione <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>possibili<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>scostamenti <span class=\"_ _11\"></span>tra <span class=\"_ _1\"></span>risu<span class=\"_ _1\"></span>ltati<span class=\"_ _26a\"> </span></span>consuntivi e<span class=\"_ _1\"></span> dati <span class=\"_ _1\"></span>previsi<span class=\"_ _1\"></span>onali <span class=\"_ _1\"></span>nonch\u00e9 <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span><span class=\"ff7\">size r<span class=\"_ _1\"></span>isk prem<span class=\"_ _1\"></span>ium</span> <span class=\"_ _1\"></span>per rif<span class=\"_ _1\"></span>lettere la<span class=\"_ _1\"></span> rischios<span class=\"_ _1\"></span>it\u00e0 derivant<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>dalle dimensioni del Grup<span class=\"_ _1\"></span>po rispetto a<span class=\"_ _1\"></span>i <span class=\"ff7\">player<span class=\"_ _1\"></span></span> di mercato.<span class=\"_ _1\"></span><span class=\"ff7\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ls5\">I </span><span class=\"ff7\">WACC</span> <span class=\"_ _3\"></span>cos\u00ec determinati sono pari a 9,5% per le <span class=\"_ _3\"></span>CGU localizza<span class=\"_ _1\"></span>te in Italia, 8,4% per quelle l<span class=\"_ _3\"></span>ocalizzat<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>in <span class=\"_ _2\"></span>Fr<span class=\"_ _1\"></span>ancia e <span class=\"_ _2\"></span>9,2% in <span class=\"_ _2\"></span>Sp<span class=\"_ _1\"></span>agna. <span class=\"_ _3\"></span>Per <span class=\"_ _3\"></span>le CGU <span class=\"_ _2\"></span>loca<span class=\"_ _1\"></span>lizzata <span class=\"_ _3\"></span>in Polonia <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>pari al <span class=\"_ _2\"></span>11,5%, per <span class=\"_ _3\"></span>la <span class=\"_ _2\"></span>CGU<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>localizz<span class=\"_ _1\"></span>ata<span class=\"_ _26a\"> </span>in <span class=\"_ _2\"></span>Svezia <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>pari <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>8%, <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>CGU <span class=\"_ _2\"></span>local<span class=\"_ _1\"></span>izzata <span class=\"_ _2\"></span>in <span class=\"_ _2\"></span>C<span class=\"_ _1\"></span>ina <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>pari <span class=\"_ _2\"></span>al <span class=\"_ _3\"></span>10,7%, <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>la <span class=\"_ _2\"></span>CG<span class=\"_ _1\"></span>U <span class=\"_ _2\"></span>localizzata <span class=\"_ _2\"></span>in <span class=\"_ _3\"></span>Messico<span class=\"_ _26a\"> </span>\u00e8 <span class=\"_ _3\"></span>pari al <span class=\"_ _2\"></span>12,4%<span class=\"_ _1\"></span>, pe<span class=\"_ _3\"></span>r la <span class=\"_ _2\"></span>CG<span class=\"_ _1\"></span>U localizzata <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>USA \u00e8 <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ari al <span class=\"_ _2\"></span>8,8%, mentre <span class=\"_ _3\"></span>per le <span class=\"_ _3\"></span>CGU localizzate <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n B<span class=\"_ _3\"></span>rasil<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>\u00e8 stato utilizzato un <span class=\"_ _1\"></span><span class=\"ff7\">WACC</span> pari al 1<span class=\"_ _1\"></span>5,1%;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">il <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _23\"> </span>terminale <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _20\"></span>stato <span class=\"_ _23\"> </span>determinato <span class=\"_ _23\"> </span>sulla <span class=\"_ _20\"> </span>bas<span class=\"_ _1\"></span>e <span class=\"_ _20\"> </span>di <span class=\"_ _23\"> </span>un <span class=\"_ _20\"> </span>tass<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>di <span class=\"_ _23\"> </span>crescita <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>lungo <span class=\"_ _23\"> </span>periodo <span class=\"_ _20\"> </span>\u201c<span class=\"_ _1\"></span>g\u201d <span class=\"_ _23\"> </span>pari<span class=\"_ _26a\"> </span></span></span>all\u2019inflazione<span class=\"ff2\"> <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>lung<span class=\"_ _1\"></span>o <span class=\"_ _9\"></span>t<span class=\"_ _1\"></span>ermine <span class=\"_ _2\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>p<span class=\"_ _1\"></span>aese <span class=\"_ _2\"></span>(fonte <span class=\"_ _2\"></span><span class=\"ff7\">I<span class=\"_ _1\"></span>nternatio<span class=\"_ _1\"></span>nal <span class=\"_ _2\"></span>Monetary <span class=\"_ _2\"></span>Fund<span class=\"_ _1\"></span><span class=\"ff2\">); <span class=\"_ _2\"></span>tale <span class=\"_ _2\"></span>tas<span class=\"_ _1\"></span>so <span class=\"_ _2\"></span>va <span class=\"_ _2\"></span>da <span class=\"_ _2\"></span>un <span class=\"_ _2\"></span>minimo<span class=\"_ _26a\"> </span></span></span></span>di 1,8% ad un mas<span class=\"_ _1\"></span>simo di 3,3% ;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">per la determinazion<span class=\"_ _1\"></span>e del flus<span class=\"_ _1\"></span>so di cass<span class=\"_ _1\"></span>a operativo <span class=\"_ _1\"></span>basato sull\u2019ultimo <span class=\"_ _1\"></span>anno <span class=\"_ _1\"></span>di previsione <span class=\"_ _1\"></span>esplicita si <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> </span></span>provveduto <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>riflettere<span class=\"_ _1\"></span>, <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span><span class=\"ff5\">fine <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>proi<span class=\"_ _1\"></span>ettare <span class=\"_ _8\"></span>\u201cin <span class=\"_ _8\"></span>perpetu<span class=\"_ _1\"></span>o\u201d <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>situazione <span class=\"_ _8\"></span>stabile, <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>bilanciamento <span class=\"_ _8\"></span>tr<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>investimenti <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>ammortamenti <span class=\"_ _8\"></span>(nella <span class=\"_ _8\"></span>logica <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsiderare <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>livello <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>investime<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>necessario <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>mantenimento del bus<span class=\"_ _1\"></span>iness)<span class=\"_ _1\"></span> e variazione di capitale c<span class=\"_ _1\"></span>ircolante pari a<span class=\"_ _1\"></span> zero.<span class=\"_ _1\"></span> Come <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>i\u00e0 <span class=\"_ _3\"></span>anticipato, <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>test di <span class=\"_ _2\"></span><span class=\"ff7\">imp<span class=\"_ _1\"></span>airment<span class=\"ff2\"> <span class=\"ff5\">non <span class=\"_ _2\"></span>hanno <span class=\"_ _3\"></span>evidenziato<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>perd<span class=\"_ _1\"></span>ite <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _2\"></span>ecc<span class=\"_ _1\"></span>ezione <span class=\"_ _3\"></span>dell\u2019avviament<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span></span></span></span>riferito <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>diritto<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>cinese <span class=\"_ _8\"></span>Tailong <span class=\"_ _8\"></span>(Zhuhai) <span class=\"_ _8\"></span>M<span class=\"_ _1\"></span>achinery <span class=\"_ _8\"></span>Manufacturi<span class=\"_ _1\"></span>ng <span class=\"_ _8\"></span>Equipment <span class=\"_ _8\"></span>Ltd: <span class=\"_ _11\"></span>la <span class=\"_ _1\"></span>val<span class=\"_ _1\"></span>utazione<span class=\"_ _26a\"> </span>della <span class=\"_ _2\"></span>recuperabi<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>ta<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>av<span class=\"_ _1\"></span>viamento <span class=\"_ _3\"></span>ha <span class=\"_ _2\"></span>evidenzi<span class=\"_ _1\"></span>ato <span class=\"_ _2\"></span>una <span class=\"_ _3\"></span>perdita <span class=\"_ _2\"></span>durevo<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _2\"></span>ta<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>da <span class=\"_ _2\"></span>ren<span class=\"_ _1\"></span>dere <span class=\"_ _2\"></span>necess<span class=\"_ _1\"></span>aria<span class=\"_ _26a\"> </span>una svalutazione total<span class=\"_ _1\"></span>e dello stesso pari a 2<span class=\"_ _1\"></span>.957 miglia<span class=\"_ _1\"></span>ia di Euro. <span class=\"_ _1\"></span> La societ\u00e0 era stata ac<span class=\"_ _1\"></span>quisita nel 2008 da<span class=\"_ _1\"></span>lla Societ\u00e0 controllante <span class=\"_ _1\"></span>YAMA S.p.A. ed \u00e8 att<span class=\"_ _1\"></span>iva nella produzione<span class=\"_ _1\"></span> di<span class=\"_ _26a\"> </span>cilindri nichelati per motori<span class=\"_ _1\"></span> a scoppio, co<span class=\"_ _1\"></span>mponente utili<span class=\"_ _1\"></span>zzato per i prodott<span class=\"_ _1\"></span>i del Gruppo. <span class=\"_ _8\"></span> L\u2019<span class=\"ff7 ls1\">impairment<span class=\"ff2\"> test \u00e8 stato elaborato applicando<span class=\"_ _1\"></span> un WACC pari al 10,7% e un tasso di crescita di lungo periodo<span class=\"_ _26a\"> </span></span></span>\u201c<span class=\"ff7\">g</span>\u201d <span class=\"_ _11\"></span>pari <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>2% <span class=\"_ _11\"></span>dal <span class=\"_ _11\"></span>quale <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>emerso <span class=\"_ _11\"></span>che <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>flussi <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _11\"></span>futuri <span class=\"_ _11\"></span>attualizzat<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>permetteva<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>recuperare <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>valore <span class=\"_ _3\"></span>del Goodwill <span class=\"_ _2\"></span>isc<span class=\"_ _1\"></span>ritto. <span class=\"_ _3\"></span>Il <span class=\"_ _3\"></span>piano <span class=\"_ _3\"></span>economico della <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>ciet\u00e0, <span class=\"_ _3\"></span>nonostante confermi <span class=\"_ _3\"></span>risulta<span class=\"_ _1\"></span>ti positivi, <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>isente <span class=\"_ _3\"></span>delle<span class=\"_ _1\"></span> scelte <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>trategiche <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Gruppo <span class=\"_ _20\"></span>orientate <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>maggiori <span class=\"_ _20\"></span>inv<span class=\"_ _1\"></span>estimenti <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>prod<span class=\"_ _1\"></span>otti <span class=\"_ _20\"></span>a <span class=\"_ _11\"></span>ba<span class=\"_ _1\"></span>tteria <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>minore <span class=\"_ _20\"></span>utilizzo <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span>motori a scoppio.<span class=\"_ _1\"></span> Tale <span class=\"_ _26\"> </span>avviamen<span class=\"_ _1\"></span>to <span class=\"_ _26\"> </span>\u00e8 <span class=\"_ _26\"> </span>s<span class=\"_ _1\"></span>tato <span class=\"_ _27\"> </span>quindi <span class=\"_ _26\"> </span>sv<span class=\"_ _1\"></span>alutato <span class=\"_ _27\"> </span>iscrivendo <span class=\"_ _26\"> </span>u<span class=\"_ _1\"></span>na <span class=\"_ _26\"> </span>perdita<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>va<span class=\"_ _1\"></span>lore <span class=\"_ _27\"> </span>alla <span class=\"_ _26\"> </span>voce <span class=\"_ _27\"> </span>\u201cSvalutazioni<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>ed<span class=\"_ _26a\"> </span>Ammortamenti\u201d del C<span class=\"_ _1\"></span>onto Economico (s<span class=\"_ _1\"></span>i veda nota 1<span class=\"_ _1\"></span>4).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Inoltre, <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"> </span>base <span class=\"_ _20\"> </span>delle <span class=\"_ _20\"> </span>ind<span class=\"_ _1\"></span>icazioni <span class=\"_ _20\"></span>contenute <span class=\"_ _20\"> </span>nel <span class=\"_ _20\"> </span>documen<span class=\"_ _1\"></span>to <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>ngiunto <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>Banca <span class=\"_ _20\"></span>d\u2019Italia, <span class=\"_ _20\"> </span>Conso<span class=\"_ _1\"></span>b <span class=\"_ _20\"></span>e<span class=\"_ _26a\"> </span>Isvap n. 4 del 3 marzo 2010, il Gruppo ha provveduto ad elaborare l\u2019<span class=\"_ _1\"></span>analisi di sensitivit\u00e0 sui r<span class=\"_ _8\"></span><span class=\"ff2\">isultati del test di<span class=\"_ _26a\"> </span></span>impairment<span class=\"ff2\"> <span class=\"_ _1\"></span><span class=\"ff5\">rispetto <span class=\"_ _1\"></span>alle <span class=\"_ _1\"></span>variazioni <span class=\"_ _1\"></span>degli as<span class=\"_ _1\"></span>sunti <span class=\"_ _1\"></span>base c<span class=\"_ _1\"></span>he condiz<span class=\"_ _1\"></span>ionano il <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>d\u2019uso: <span class=\"_ _1\"></span>variazio<span class=\"_ _1\"></span>ne positiva <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span></span></span>5% <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span><span class=\"ff7\">WA<span class=\"_ _1\"></span>CC</span> <span class=\"_ _8\"></span><span class=\"ff5\">o <span class=\"_ _8\"></span>negat<span class=\"_ _1\"></span>iva <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>mezzo <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>unto <span class=\"_ _8\"></span>percentua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>tass<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>crescita <span class=\"_ _8\"></span>\u201cg\u201d <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>5% <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>fluss<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cass<span class=\"_ _1\"></span>a.<span class=\"_ _26a\"> </span></span>Tali <span class=\"_ _8\"></span>analisi <span class=\"_ _8\"></span>non<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>hanno<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>evidenziano <span class=\"_ _11\"></span>perdite <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _8\"></span>eccezione <span class=\"_ _11\"></span>delle <span class=\"_ _1\"></span>CG<span class=\"_ _1\"></span>U <span class=\"_ _8\"></span>relative <span class=\"_ _11\"></span>alla <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Comet<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>do<span class=\"_ _26a\"> </span>Brasil <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>Lavorw<span class=\"_ _1\"></span>ash <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>cui <span class=\"_ _11\"></span>una <span class=\"_ _8\"></span>var<span class=\"_ _1\"></span>iazione <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>gli <span class=\"_ _8\"></span>assun<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>base<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>com<span class=\"_ _1\"></span>porrebbe <span class=\"_ _11\"></span>una <span class=\"_ _8\"></span>perd<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>valore<span class=\"_ _26a\"> </span>parziale.<span class=\"_ _26a\"> </span>La Direzi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>Societ\u00e0 <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>ritenuto <span class=\"_ _1\"></span>opportuno <span class=\"_ _8\"></span>verific<span class=\"_ _1\"></span>are la <span class=\"_ _1\"></span>recuperabi<span class=\"_ _1\"></span>lit\u00e0 de<span class=\"_ _1\"></span>l c<span class=\"_ _1\"></span>apitale invest<span class=\"_ _1\"></span>ito n<span class=\"_ _1\"></span>etto rif<span class=\"_ _1\"></span>erito<span class=\"_ _26a\"> </span>alla <span class=\"_ _1\"></span>CGU <span class=\"_ _8\"></span>Emak <span class=\"_ _8\"></span>S.p.A. <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fr<span class=\"_ _1\"></span>onte <span class=\"_ _1\"></span>degl<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>indica<span class=\"_ _1\"></span>tori <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>perdita <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _1\"></span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>corso <span class=\"_ _8\"></span>d\u2019esercizio, <span class=\"_ _8\"></span>riconducibili <span class=\"_ _8\"></span>al<span class=\"_ _26a\"> </span>conseguimento <span class=\"_ _23\"> </span>per <span class=\"_ _23\"> </span>il <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"> </span>anno <span class=\"_ _23\"></span>consecutivo<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>operativo <span class=\"_ _23\"></span>d<span class=\"_ _8\"></span>i <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>negativo. <span class=\"_ _23\"> </span>Anche <span class=\"_ _23\"></span>tale<span class=\"_ _26a\"> </span>verifica \u00e8 effettuata attraver<span class=\"_ _1\"></span>so la determinazione del va<span class=\"_ _1\"></span>lore recuperabile della <span class=\"_ _1\"></span><span class=\"ff7\">C<span class=\"_ _1\"></span>ash Generating Unit<span class=\"_ _1\"></span></span> (CGU) di<span class=\"_ _26a\"> </span>riferimento, tramite il metodo del \u201c<span class=\"ff7\">Discounted cash flow<span class=\"_ _1\"></span></span>\u201d: la metodologia per la <span class=\"_ _3\"></span>determinaz<span class=\"_ _1\"></span>ione del <span class=\"ff7\">discounted<span class=\"_ _26a\"> </span></span>cash <span class=\"_ _3\"></span>flow<span class=\"ff2\"> <span class=\"_ _3\"></span>sono <span class=\"_ _3\"></span>le medesime <span class=\"_ _3\"></span>descritte <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>precedenz<span class=\"_ _1\"></span>a. <span class=\"_ _2\"></span>P<span class=\"_ _1\"></span>ertanto, <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>sono <span class=\"_ _3\"></span>consid<span class=\"_ _1\"></span>erati <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>dati <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>piano quinquennale<span class=\"_ _26a\"> </span></span>della <span class=\"_ _1\"></span>CGU <span class=\"_ _8\"></span>Emak <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _1\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>rappresenta <span class=\"_ _8\"></span>l\u2019insieme <span class=\"_ _8\"></span>pi\u00f9 <span class=\"_ _1\"></span>piccol<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>gener<span class=\"_ _1\"></span>azione <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>flussi <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>cassa <span class=\"_ _1\"></span>sec<span class=\"_ _1\"></span>ondo<span class=\"_ _26a\"> </span>le prassi di monitoraggio utilizzate dal management<span class=\"_ _1\"></span> per finalit\u00e0 gestionali interne; il tasso <span class=\"_ _3\"></span>WACC utilizzato per<span class=\"_ _26a\"> </span>attualizzare <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>flussi <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>cassa <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>pari <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>9,5%; <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>valore <span class=\"_ _11\"></span>terminale <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>stato<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>determ<span class=\"_ _1\"></span>inato <span class=\"_ _8\"></span>sulla<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>base <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>tasso <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>crescita di l<span class=\"_ _3\"></span>ungo periodo (g) del 2%, <span class=\"_ _3\"></span>pari all\u2019inflazione a lungo term<span class=\"ff2\">ine del paese (fonte <span class=\"_ _3\"></span><span class=\"ff7\">Internatio<span class=\"_ _1\"></span>nal Monetary<span class=\"_ _26a\"> </span></span></span>Fund<span class=\"ff5\">). <span class=\"_ _11\"></span>Il <span class=\"_ _20\"></span>test <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span>ha <span class=\"_ _20\"></span>evidenziato <span class=\"_ _20\"></span>perdite <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>valore.<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>L\u2019<span class=\"_ _1\"></span>analisi <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>sensitivit\u00e0 <span class=\"_ _20\"></span>sui <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>isultati <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>test <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>imp<span class=\"_ _1\"></span>airment<span class=\"_ _26a\"> </span></span>rispetto <span class=\"_ _20\"></span>ad <span class=\"_ _11\"></span>una <span class=\"_ _20\"></span>vari<span class=\"_ _1\"></span>azione <span class=\"_ _20\"></span>positiva <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>5% <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>WACC<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>o <span class=\"_ _11\"></span>neg<span class=\"_ _1\"></span>ativa <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>mez<span class=\"_ _1\"></span>zo <span class=\"_ _11\"></span>pu<span class=\"_ _1\"></span>nto <span class=\"_ _20\"></span>percentuale <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>tas<span class=\"_ _8\"></span>so <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>crescita \u201cg\u201d e del 5% de<span class=\"_ _1\"></span>i flussi di cassa n<span class=\"_ _1\"></span>on ha evidenziato perd<span class=\"_ _1\"></span>ite di valore.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Infine <span class=\"_ _26\"> </span>gli <span class=\"_ _26\"> </span>Ammin<span class=\"_ _1\"></span>istratori, <span class=\"_ _27\"> </span>constatando <span class=\"_ _26\"> </span>che <span class=\"_ _27\"> </span>il <span class=\"_ _26\"> </span>Patrim<span class=\"_ _1\"></span>onio <span class=\"_ _26\"> </span>Netto <span class=\"_ _26\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _26\"> </span>Gruppo <span class=\"_ _26\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>risulta <span class=\"_ _26\"> </span>super<span class=\"_ _1\"></span>iore <span class=\"_ _26\"> </span>alla<span class=\"_ _26a\"> </span>capitalizzazione di <span class=\"_ _2\"></span>mercato del <span class=\"_ _2\"></span>titolo al <span class=\"_ _2\"></span>30 di<span class=\"_ _3\"></span>cembre 2022 <span class=\"_ _3\"></span>(pari <span class=\"_ _3\"></span>a 191,8 mil<span class=\"_ _3\"></span>ioni Euro), <span class=\"_ _2\"></span>han<span class=\"_ _1\"></span>no <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>itenuto <span class=\"_ _3\"></span>opportun<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>effettuare il test d<span class=\"_ _3\"></span>i <span class=\"ff7\">impairme<span class=\"_ _1\"></span>nt</span> <span class=\"ff5\">c.d. di <span class=\"_ _3\"></span>\u201csecondo livello\u201d sulla base del piano economico<span class=\"ff2\">-fin<span class=\"_ _1\"></span>anziario triennale del<span class=\"_ _26a\"> </span></span></span>Gruppo <span class=\"_ _21\"> </span>ap<span class=\"_ _1\"></span>provato <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>al <span class=\"_ _21\"> </span>Co<span class=\"_ _1\"></span>nsiglio <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>Ammi<span class=\"_ _1\"></span>nistrazione <span class=\"_ _1e\"> </span>in <span class=\"_ _21\"> </span>data <span class=\"_ _1e\"> </span>27 <span class=\"_ _1e\"> </span>gennaio <span class=\"_ _1e\"> </span>2023. <span class=\"_ _1e\"> </span>L\u2019<span class=\"_ _1\"></span><span class=\"ff7\">i<span class=\"_ _1\"></span>mpairment <span class=\"_ _1e\"> </span>test <span class=\"_ _1e\"> </span><span class=\"ff2\">\u00e8 <span class=\"_ _1e\"> </span>stato<span class=\"_ _26a\"> </span></span></span>elaborato <span class=\"_ _1\"></span>applicando<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>tess<span class=\"_ _1\"></span>a met<span class=\"_ _1\"></span>odologia <span class=\"_ _1\"></span>illustrata<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>recedentemente,<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>app<span class=\"_ _1\"></span>licando <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>W<span class=\"_ _1\"></span>ACC <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>9,5%<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>un<span class=\"_ _26a\"> </span>tasso <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>crescita <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>lungo <span class=\"_ _23\"> </span>periodo <span class=\"_ _23\"> </span>\u201cg\u201d <span class=\"_ _23\"> </span>pari <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>2%. <span class=\"_ _23\"> </span>Il <span class=\"_ _23\"> </span>test <span class=\"_ _23\"> </span>non <span class=\"_ _21\"> </span>ha <span class=\"_ _23\"> </span>evidenziato <span class=\"_ _23\"> </span>pe<span class=\"_ _1\"></span>rdite <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>valore. <span class=\"_ _23\"> </span>L\u2019ana<span class=\"_ _1\"></span>lisi <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span>sensitivit\u00e0 <span class=\"_ _1\"></span>sui <span class=\"_ _1\"></span>risultati <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l te<span class=\"_ _1\"></span>st di <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>pairment <span class=\"_ _1\"></span>rispetto <span class=\"_ _1\"></span>ad<span class=\"_ _1\"></span> una<span class=\"_ _1\"></span> v<span class=\"_ _1\"></span>ariazione <span class=\"_ _1\"></span>positiva <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>5% d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>WACC <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>neg<span class=\"_ _1\"></span>ativa<span class=\"_ _26a\"> </span>d<span class=\"ff5\">i mezzo punto perc<span class=\"_ _1\"></span>entuale del tasso di cresc<span class=\"_ _1\"></span>ita \u201cg\u201d e del 5% d<span class=\"_ _1\"></span>ei flussi di cassa non h<span class=\"_ _1\"></span>a evidenziato perd<span class=\"_ _1\"></span>ite di<span class=\"_ _26a\"> </span></span>valore.<span class=\"_ _26a\"> </span>22. Partecipazioni<span class=\"_ _1\"></span> La <span class=\"_ _11\"></span>voce <span class=\"_ _11\"></span>\u201c<span class=\"ff4\">P<span class=\"_ _1\"></span>artecipazioni</span>\u201d <span class=\"_ _20\"></span>ammonta <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>8 <span class=\"_ _11\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>uro, <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>stesse <span class=\"_ _11\"></span>non<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>soggette <span class=\"_ _20\"></span>a <span class=\"_ _11\"></span>perdite <span class=\"_ _11\"></span>durevo<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>valore; i rischi e i benef<span class=\"_ _1\"></span>ici connessi al poss<span class=\"_ _1\"></span>esso della partec<span class=\"_ _1\"></span>ipazione sono trasc<span class=\"_ _1\"></span>urabili.<span class=\"_ _1\"></span> 23. Strumenti finanzia<span class=\"_ _1\"></span>ri derivati <span class=\"_ _1\"></span> I valori a bilancio si riferisc<span class=\"_ _1\"></span>ono alle variaz<span class=\"_ _1\"></span>ioni di <span class=\"_ _1\"></span><span class=\"ff7\">fair value</span> d<span class=\"_ _1\"></span>egli strumenti finanz<span class=\"_ _1\"></span>iari:<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>di copertura delle op<span class=\"_ _1\"></span>erazioni di ac<span class=\"_ _1\"></span>quisto in val<span class=\"_ _1\"></span>uta;<span class=\"_ _26a\"> </span></span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>di copertura del risc<span class=\"_ _1\"></span>hio di variabilit\u00e0 de<span class=\"_ _1\"></span>i tassi di interes<span class=\"_ _1\"></span>se passivi.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"><span class=\"_ _1\"></span> </span>Tutti <span class=\"_ _1\"></span>gli <span class=\"_ _1\"></span>str<span class=\"_ _1\"></span>umenti <span class=\"_ _1\"></span>finanz<span class=\"_ _1\"></span>iari <span class=\"_ _1\"></span>derivati <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>ppartenenti <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>ques<span class=\"_ _1\"></span>ta <span class=\"_ _1\"></span>voce <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>bilancio <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _1\"></span>valutati <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>valu<span class=\"_ _1\"></span>e</span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ivello<span class=\"_ _26a\"> </span>gerarchico <span class=\"_ _20\"></span>due: <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>loro <span class=\"_ _20\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"></span>equo <span class=\"_ _20\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>stata<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>fatta <span class=\"_ _20\"></span>utilizzando <span class=\"_ _20\"></span>var<span class=\"_ _1\"></span>iabili <span class=\"_ _20\"></span>diverse <span class=\"_ _20\"></span>da <span class=\"_ _20\"></span>prez<span class=\"_ _1\"></span>zi <span class=\"_ _20\"></span>quotati <span class=\"_ _20\"></span>in<span class=\"_ _26a\"> </span>mercati attivi e <span class=\"_ _3\"></span>che sono osservabili (sul mercato) o direttamente (prezzi) o <span class=\"_ _3\"></span>indirett<span class=\"_ _1\"></span>amente (derivati da prezzi).<span class=\"_ _1\"></span> Nella <span class=\"_ _3\"></span>fattispec<span class=\"_ _1\"></span>ie <span class=\"_ _3\"></span>il <span class=\"ff7\">fair <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alue<span class=\"ff2\"> <span class=\"ff5\">contabilizzato \u00e8 <span class=\"_ _2\"></span>par<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>alla stima <span class=\"_ _3\"></span>\u201c<span class=\"ff7\">mark to <span class=\"_ _3\"></span>market<span class=\"ff5\">\u201d fornita da<span class=\"_ _3\"></span>lle banche <span class=\"_ _3\"></span>di riferimento,<span class=\"_ _26a\"> </span></span></span></span></span></span>che <span class=\"_ _2\"></span>rappresenta <span class=\"_ _3\"></span>il <span class=\"_ _2\"></span>valore <span class=\"_ _2\"></span>cor<span class=\"_ _1\"></span>rente <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>mercato <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>ciascun <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ontratto <span class=\"_ _2\"></span>calcolato <span class=\"_ _3\"></span>alla <span class=\"_ _2\"></span>data <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ui <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>riferisce <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>chiusura<span class=\"_ _1\"></span> del bilancio.<span class=\"_ _26a\"> </span>La conta<span class=\"_ _1\"></span>bilizzazione <span class=\"_ _1\"></span>degli s<span class=\"_ _1\"></span>trumenti <span class=\"_ _1\"></span>di seg<span class=\"_ _1\"></span>uito es<span class=\"_ _1\"></span>posti <span class=\"_ _1\"></span>avviene a<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>value</span><span class=\"ls2a\">. I</span>n acc<span class=\"_ _1\"></span>ordo con <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>principi <span class=\"_ _1\"></span>contabili<span class=\"_ _1\"></span> di riferimento tali effetti<span class=\"_ _1\"></span> sono stati contabi<span class=\"_ _1\"></span>lizzati a conto econo<span class=\"_ _1\"></span>mico nell\u2019esercizio c<span class=\"_ _1\"></span>orrente.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Il valore corrente d<span class=\"_ _1\"></span>i tali contratti al 31 dicem<span class=\"_ _1\"></span>bre 2022 \u00e8 <span class=\"_ _1\"></span>rappresentato come se<span class=\"_ _1\"></span>gue:<span class=\"_ _8\"></span> Al 31 dicembre 2022<span class=\"_ _1\"></span>, sono in esser<span class=\"_ _1\"></span>e contratt<span class=\"_ _1\"></span>i a termine di ac<span class=\"_ _1\"></span>quisto di valuta ester<span class=\"_ _1\"></span>a per:<span class=\"_ _1\"></span> Da<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> i<span class=\"_ _3\"></span>n m<span class=\"_ _9\"></span>i<span class=\"_ _3\"></span>gl<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ai<span class=\"_ _2\"></span>a d<span class=\"_ _3\"></span>i<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>eu<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>3<span class=\"_ _3\"></span>1.1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.20<span class=\"_ _2\"></span>22<span class=\"_ _b3\"> </span>3<span class=\"_ _3\"></span>1.1<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>.20<span class=\"_ _3\"></span>2<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e fair <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>al<span class=\"_ _2\"></span>u<span class=\"_ _3\"></span>e p<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>itiv<span class=\"_ _c\"></span>a c<span class=\"_ _1\"></span>o<span class=\"_ _3\"></span>nt<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>t<span class=\"_ _3\"></span>i di c<span class=\"_ _1\"></span>op<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rtu<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span> c<span class=\"_ _1\"></span>am<span class=\"_ _9\"></span>bi<span class=\"_ _161\"> </span><span class=\"ls56\">142<span class=\"_ _170\"> </span></span>-<span class=\"_ _26a\"> </span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e <span class=\"ff7\">f<span class=\"_ _1\"></span>air va<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _20\"></span><span class=\"ff2\"> po<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>a c<span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _3\"></span>rat<span class=\"_ _2\"></span>t<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>d<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>op<span class=\"_ _2\"></span>zio<span class=\"_ _2\"></span>ni su<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>am<span class=\"_ _9\"></span>b<span class=\"_ _3\"></span>i<span class=\"_ _cb\"> </span><span class=\"ls56\">29<span class=\"_ _12b\"> </span>234<span class=\"_ _26a\"> </span></span></span></span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e <span class=\"ff7\">f<span class=\"_ _1\"></span>air va<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _20\"></span><span class=\"ff2\"> po<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>a IR<span class=\"_ _2\"></span>S e<span class=\"_ _3\"></span> op<span class=\"_ _2\"></span>zio<span class=\"_ _3\"></span>ni s<span class=\"_ _3\"></span>u t<span class=\"_ _2\"></span>as<span class=\"_ _2\"></span>si di int<span class=\"_ _2\"></span>e<span class=\"_ _3\"></span>r<span class=\"_ _1\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>se<span class=\"_ _17d\"> </span>2.5<span class=\"_ _3\"></span>3<span class=\"_ _3\"></span>6<span class=\"_ _16d\"> </span><span class=\"ls56\">52<span class=\"_ _26a\"> </span></span></span></span>T<span class=\"_ _3\"></span>ota<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span> str<span class=\"_ _1\"></span>u<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>e<span class=\"_ _3\"></span>nti<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>i<span class=\"_ _2\"></span>na<span class=\"_ _3\"></span>nzi<span class=\"_ _2\"></span>ari<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> atti<span class=\"_ _3\"></span>vi<span class=\"_ _2\"></span> 2<span class=\"_ _3\"></span>.70<span class=\"_ _3\"></span>7<span class=\"_ _16f\"> </span><span class=\"ls56\">286<span class=\"_ _26a\"> </span></span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e <span class=\"ff7\">f<span class=\"_ _1\"></span>air va<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _20\"></span><span class=\"ff2\"> ne<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>iv<span class=\"_ _9\"></span>a con<span class=\"_ _3\"></span>t<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> c<span class=\"_ _1\"></span>op<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span>rtu<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span> c<span class=\"_ _1\"></span>am<span class=\"_ _9\"></span>bi<span class=\"_ _ea\"> </span><span class=\"ls56\">557<span class=\"_ _4f\"> </span>145<span class=\"_ _26a\"> </span></span></span></span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e <span class=\"ff7\">f<span class=\"_ _1\"></span>air va<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _20\"></span><span class=\"ff2\"> ne<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>iv<span class=\"_ _9\"></span>a con<span class=\"_ _3\"></span>t<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> di op<span class=\"_ _2\"></span>zio<span class=\"_ _3\"></span>ni s<span class=\"_ _3\"></span>u cam<span class=\"_ _9\"></span>bi<span class=\"_ _eb\"> </span><span class=\"ls56\">142<span class=\"_ _4f\"> </span>213<span class=\"_ _26a\"> </span></span></span></span>Va<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>u<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a<span class=\"_ _3\"></span>z<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>e <span class=\"ff7\">f<span class=\"_ _1\"></span>air va<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _20\"></span><span class=\"ff2\"> ne<span class=\"_ _3\"></span>g<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>iv<span class=\"_ _9\"></span>a IR<span class=\"_ _2\"></span>S<span class=\"_ _3\"></span> e op<span class=\"_ _2\"></span>zio<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _3\"></span>u t<span class=\"_ _2\"></span>as<span class=\"_ _2\"></span>si di int<span class=\"_ _2\"></span>e<span class=\"_ _3\"></span>r<span class=\"_ _1\"></span>e<span class=\"_ _3\"></span>s<span class=\"_ _3\"></span>se<span class=\"_ _ce\"> </span>-<span class=\"_ _1ba\"> </span><span class=\"ls56\">223<span class=\"_ _26a\"> </span></span></span></span>T<span class=\"_ _3\"></span>ota<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e<span class=\"_ _3\"></span> str<span class=\"_ _1\"></span>u<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>e<span class=\"_ _3\"></span>nti<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>i<span class=\"_ _2\"></span>na<span class=\"_ _3\"></span>nzi<span class=\"_ _2\"></span>ari<span class=\"_ _3\"></span> de<span class=\"_ _3\"></span>ri<span class=\"_ _3\"></span>va<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> pa<span class=\"_ _2\"></span>ss<span class=\"_ _3\"></span>i<span class=\"_ _2\"></span>vi<span class=\"_ _26a\"> </span>699<span class=\"_ _4f\"> </span>581<span class=\"_ _26a\"> </span>Infine, <span class=\"_ _2\"></span>al<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _3\"></span>dicembre <span class=\"_ _3\"></span>2022, <span class=\"_ _3\"></span>risultano <span class=\"_ _3\"></span>altres\u00ec <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>essere <span class=\"_ _3\"></span>contratt<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>IRS<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>o<span class=\"_ _1\"></span>pzioni <span class=\"_ _3\"></span>su <span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>assi <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>\u2019interesse <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _3\"></span>l\u2019obiettivo<span class=\"_ _1\"></span> di copertura del rischio<span class=\"_ _1\"></span> di variabilit\u00e0 dei tassi <span class=\"_ _1\"></span>di interes<span class=\"_ _1\"></span>se sui <span class=\"_ _1\"></span>finanziament<span class=\"_ _1\"></span>i.<span class=\"_ _26a\"> </span>La Ca<span class=\"_ _1\"></span>pogruppo <span class=\"_ _1\"></span>Emak <span class=\"_ _8\"></span>S.p.A. e <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontrollate <span class=\"_ _1\"></span>Tecomec<span class=\"_ _1\"></span> S.r.l <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>C<span class=\"_ _1\"></span>omet <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>hanno <span class=\"_ _1\"></span>sottoscritto <span class=\"_ _1\"></span>contrat<span class=\"_ _1\"></span>ti I<span class=\"_ _1\"></span>RS <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>opzioni <span class=\"_ _8\"></span>su <span class=\"_ _11\"></span>tassi <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>interesse <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>importo <span class=\"_ _8\"></span>noziona<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>comp<span class=\"_ _1\"></span>lessivo <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>60.926 <span class=\"_ _11\"></span>migliaia <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>Euro. <span class=\"_ _11\"></span>La <span class=\"_ _8\"></span>scad<span class=\"_ _1\"></span>enza<span class=\"_ _26a\"> </span>degli strumenti \u00e8 cosi d<span class=\"_ _1\"></span>ettagliata:<span class=\"_ _1\"></span> Soci<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ore<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>nom<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _8\"></span>le<span class=\"_ _8\"></span> <span class=\"_ _1\"></span> (valor<span class=\"_ _8\"></span>i in m<span class=\"_ _8\"></span>igliaia)<span class=\"_ _26a\"> </span>Cam<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> term<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span> <span class=\"_ _1\"></span><span class=\"fs3a\">(m<span class=\"_ _11\"></span>e<span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>io)<span class=\"_ _26a\"> </span></span>Sca<span class=\"_ _1\"></span>de<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> (*)<span class=\"_ _26a\"> </span>Cont<span class=\"_ _2\"></span>ra<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>rmi<span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>to i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>uta<span class=\"_ _26a\"> </span>Cn<span class=\"_ _3\"></span>h/Euro<span class=\"_ _78\"> </span>E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Spa<span class=\"_ _39\"> </span>C<span class=\"_ _3\"></span>nh<span class=\"_ _1bc\"> </span>36.000<span class=\"_ _6a\"> </span>7,09<span class=\"_ _c2\"> </span>12/12/20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Usd/E<span class=\"_ _1\"></span>ur<span class=\"_ _3\"></span>o<span class=\"_ _1bc\"> </span>Emak <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e<span class=\"_ _174\"> </span>Usd<span class=\"_ _26a\"> </span>160<span class=\"_ _f9\"> </span><span class=\"ls1\">1<span class=\"_ _3\"></span>,07<span class=\"_ _f2\"> </span>10/05/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span></span>J<span class=\"_ _3\"></span>py/<span class=\"_ _1\"></span>E<span class=\"_ _1\"></span>ur<span class=\"_ _3\"></span>o<span class=\"_ _4\"> </span>Emak <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e<span class=\"_ _11b\"> </span>J<span class=\"_ _3\"></span>py<span class=\"_ _d2\"> </span>19<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>14<span class=\"_ _3\"></span>3,86<span class=\"_ _1b6\"> </span>10/03/20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Eur/Pl<span class=\"_ _1\"></span>n<span class=\"_ _f6\"> </span>Vi<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>tus<span class=\"_ _1\"></span>-Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p. <span class=\"_ _1\"></span>Z<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>o.o.<span class=\"_ _62\"> </span>E<span class=\"_ _1\"></span>uro<span class=\"_ _d2\"> </span>1.050<span class=\"_ _82\"> </span>4,78<span class=\"_ _c2\"> </span>11<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>04<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Usd/P<span class=\"_ _1\"></span>ln<span class=\"_ _17e\"> </span>Vi<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>tus<span class=\"_ _1\"></span>-Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p. <span class=\"_ _1\"></span>Z<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>o.o.<span class=\"_ _123\"> </span>Usd<span class=\"_ _77\"> </span><span class=\"ls57\">195<span class=\"_ _17e\"> </span></span>4,69<span class=\"_ _c2\"> </span>27/03<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Cn<span class=\"_ _3\"></span>h/Pl<span class=\"_ _1\"></span>n<span class=\"_ _17e\"> </span>Vic<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>-Emak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p. <span class=\"_ _1\"></span>Z<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>o.o.<span class=\"_ _123\"> </span>Cn<span class=\"_ _3\"></span>h<span class=\"_ _69\"> </span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>0<span class=\"_ _78\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>51<span class=\"_ _c2\"> </span>19<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>04<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Cn<span class=\"_ _3\"></span>h/Euro<span class=\"_ _78\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _177\"> </span>Cn<span class=\"_ _3\"></span>h<span class=\"_ _69\"> </span>36<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _78\"> </span>7<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>55<span class=\"_ _58\"> </span>05/12/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Cn<span class=\"_ _3\"></span>h/Euro<span class=\"_ _78\"> </span>Lav<span class=\"_ _c\"></span>orw<span class=\"_ _3\"></span>ash S<span class=\"_ _1\"></span>pa<span class=\"_ _1c1\"> </span>Cn<span class=\"_ _3\"></span>h<span class=\"_ _69\"> </span>3<span class=\"_ _3\"></span>6.000<span class=\"_ _6a\"> </span>7,15<span class=\"_ _c2\"> </span>16/11/20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Gbp<span class=\"_ _3\"></span>/E<span class=\"_ _1\"></span>uro<span class=\"_ _6a\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>pa<span class=\"_ _1c1\"> </span>Gb<span class=\"_ _3\"></span>p<span class=\"_ _ed\"> </span><span class=\"ls57\">250<span class=\"_ _f9\"> </span></span>0,88<span class=\"_ _c2\"> </span>17/04/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Pln/<span class=\"_ _1\"></span>Euro<span class=\"_ _4\"> </span>Lav<span class=\"_ _c\"></span>orw<span class=\"_ _3\"></span>ash S<span class=\"_ _1\"></span>pa<span class=\"_ _3e\"> </span>Pln<span class=\"_ _ce\"> </span>1.<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0<span class=\"_ _82\"> </span>4,80<span class=\"_ _c2\"> </span>19/01/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Euro<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>Mx<span class=\"_ _1\"></span>n<span class=\"_ _c9\"> </span>S<span class=\"_ _1\"></span>.I. <span class=\"_ _1\"></span>Agro<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Mexi<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>o<span class=\"_ _1c2\"> </span>Euro<span class=\"_ _d2\"> </span>2.250<span class=\"_ _131\"> </span>22,90<span class=\"_ _123\"> </span>29/09<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Euro<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>U<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>d<span class=\"_ _1bc\"> </span>Valley<span class=\"_ _59\"> </span>Eur<span class=\"_ _2\"></span>o<span class=\"_ _17e\"> </span><span class=\"ls57\">600<span class=\"_ _c5\"> </span></span>1,05<span class=\"_ _c2\"> </span>30/06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Cont<span class=\"_ _2\"></span>ra<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>te<span class=\"_ _1\"></span>rmi<span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>to i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>uta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>con opz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> no<span class=\"_ _1\"></span>ck<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>ng <span class=\"_ _1\"></span>forw<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>rd<span class=\"_ _26a\"> </span>Cn<span class=\"_ _3\"></span>h/Usd<span class=\"_ _b7\"> </span>E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>pa<span class=\"_ _13b\"> </span>Cnh<span class=\"_ _6a\"> </span>24<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>0 <span class=\"_ _131\"> </span>7,12<span class=\"_ _c2\"> </span>08/12<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>(*)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>La data di s<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>aden<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>a \u00e8 indicat<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>a dell'<span class=\"_ _3\"></span>ulti<span class=\"_ _1\"></span>mo c<span class=\"_ _1\"></span>ontratto<span class=\"_ _26a\"> </span>La media d<span class=\"_ _1\"></span>ei tass<span class=\"_ _1\"></span>i di intere<span class=\"_ _1\"></span>sse <span class=\"_ _1\"></span>di copertura <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>deriva dagli s<span class=\"_ _1\"></span>trumenti <span class=\"_ _1\"></span>in essere <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 dicembr<span class=\"_ _1\"></span>e 2022 \u00e8<span class=\"_ _1\"></span> pari <span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>0,24%.<span class=\"_ _26a\"> </span>Per tutti i contratti, pur <span class=\"_ _1\"></span>avendo la finalit\u00e0 e <span class=\"_ _1\"></span>le caratteristi<span class=\"_ _1\"></span>che di operazioni di co<span class=\"_ _1\"></span>pertura, le relative var<span class=\"_ _1\"></span>iazioni di<span class=\"_ _8\"></span> fa<span class=\"ls1\">ir <span class=\"_ _23\"> </span>v<span class=\"_ _1\"></span>alue<span class=\"ff2\"> <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>imputate <span class=\"_ _21\"> </span>a <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>onto <span class=\"_ _23\"> </span>econo<span class=\"_ _1\"></span>mico <span class=\"_ _21\"> </span>nel <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>eriodo <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>competenza <span class=\"_ _21\"> </span>in <span class=\"_ _21\"> </span>accordo <span class=\"_ _21\"> </span>alle <span class=\"_ _21\"> </span>regole <span class=\"_ _21\"> </span>di <span class=\"_ _1f\"> </span></span>hedge<span class=\"_ _26a\"> </span></span>accounting<span class=\"ff2\"> <span class=\"ff5\">sanc<span class=\"_ _1\"></span>ite dall\u2019IFRS 9.<span class=\"_ _1\"></span></span> </span>Il valore d<span class=\"_ _1\"></span>i tutti <span class=\"_ _1\"></span>i co<span class=\"_ _1\"></span>ntratti (t<span class=\"_ _1\"></span>assi e v<span class=\"_ _1\"></span>aluta) in <span class=\"_ _1\"></span>essere <span class=\"_ _1\"></span>al 3<span class=\"_ _1\"></span>1 dicembre <span class=\"_ _1\"></span>2022 risu<span class=\"_ _1\"></span>lta ess<span class=\"_ _1\"></span>ere compless<span class=\"_ _1\"></span>ivamente p<span class=\"_ _1\"></span>ari<span class=\"_ _26a\"> </span>a <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>positivo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>2.008 <span class=\"_ _8\"></span>miglia<span class=\"_ _1\"></span>ia <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>Eur<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>(<span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>negativo <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>295 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _11\"></span>dicembre<span class=\"_ _26a\"> </span>dell\u2019esercizio precede<span class=\"_ _1\"></span>nte).<span class=\"ff2\"> </span>24. Crediti commer<span class=\"_ _1\"></span>ciali e altri crediti<span class=\"_ _1\"></span> Il dettaglio delle voc<span class=\"_ _1\"></span>i \u00e8 di seguito esplicitato<span class=\"_ _1\"></span>:<span class=\"_ _1\"></span> B<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>nca<span class=\"_ _39\"> </span>S<span class=\"_ _1\"></span>ocie<span class=\"_ _8\"></span>t\u00e0<span class=\"_ _26a\"> </span>N<span class=\"_ _3\"></span>oz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ona<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> Euro<span class=\"_ _26a\"> </span>(v<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ori<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span>)<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ope<span class=\"_ _8\"></span>ra<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>oneD<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>ca<span class=\"_ _1\"></span>de<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>gr<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>ole<span class=\"_ _d7\"> </span>E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16c\"> </span><span class=\"ls58\">500<span class=\"_ _f9\"> </span></span>2<span class=\"_ _3\"></span>4/05/20<span class=\"_ _3\"></span>18<span class=\"_ _cf\"> </span>3<span class=\"_ _3\"></span>0/06/20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>MP<span class=\"_ _1\"></span>S<span class=\"_ _45\"> </span>E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>1.00<span class=\"_ _3\"></span>0<span class=\"_ _1bc\"> </span>14/06/20<span class=\"_ _3\"></span>18<span class=\"_ _cf\"> </span>30<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>06/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>niC<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit<span class=\"_ _12a\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>1.000<span class=\"_ _1bc\"> </span>14<span class=\"_ _3\"></span>/06/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Banco <span class=\"_ _1\"></span>BP<span class=\"_ _1\"></span>M <span class=\"_ _1c4\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16c\"> </span><span class=\"ls58\">500<span class=\"_ _f9\"> </span></span>2<span class=\"_ _3\"></span>1/06/20<span class=\"_ _3\"></span>18<span class=\"_ _cf\"> </span>31<span class=\"_ _3\"></span>/03/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16c\"> </span><span class=\"ls58\">938<span class=\"_ _f9\"> </span></span>06<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>07/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>07<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>niC<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit<span class=\"_ _12a\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>1.950<span class=\"_ _1bc\"> </span>31<span class=\"_ _3\"></span>/07/201<span class=\"_ _3\"></span>9<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>24<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>1.250<span class=\"_ _1bc\"> </span>02<span class=\"_ _3\"></span>/08/201<span class=\"_ _3\"></span>9<span class=\"_ _cf\"> </span>31<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>24<span class=\"_ _26a\"> </span>Banco <span class=\"_ _1\"></span>BP<span class=\"_ _1\"></span>M <span class=\"_ _1c4\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>2.450<span class=\"_ _1bc\"> </span>0<span class=\"_ _3\"></span>2/08/201<span class=\"_ _3\"></span>9<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/06/202<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>MP<span class=\"_ _1\"></span>S<span class=\"_ _45\"> </span>E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>3.75<span class=\"_ _3\"></span>0<span class=\"_ _1bc\"> </span>16/06/20<span class=\"_ _3\"></span>20<span class=\"_ _cf\"> </span>30<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>06/202<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>niC<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit<span class=\"_ _12a\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>9.000<span class=\"_ _1bc\"> </span>06<span class=\"_ _3\"></span>/08/202<span class=\"_ _3\"></span>1<span class=\"_ _cf\"> </span>31<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>03<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>25<span class=\"_ _26a\"> </span>Bper<span class=\"_ _3\"></span> B<span class=\"_ _1\"></span>anca <span class=\"_ _1c5\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _1c3\"> </span>5.000<span class=\"_ _1bc\"> </span>0<span class=\"_ _3\"></span>5/08/202<span class=\"_ _3\"></span>2<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/06/202<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Bper<span class=\"_ _1c6\"> </span>C<span class=\"_ _3\"></span>omet <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.<span class=\"_ _c0\"> </span>2.400<span class=\"_ _1bc\"> </span>2<span class=\"_ _3\"></span>0/09/201<span class=\"_ _3\"></span>7<span class=\"_ _cf\"> </span>29<span class=\"_ _3\"></span>/12/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>esa <span class=\"_ _1\"></span>San P<span class=\"_ _1\"></span>ao<span class=\"_ _3\"></span>lo<span class=\"_ _161\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c0\"> </span>1.200<span class=\"_ _1bc\"> </span>20<span class=\"_ _3\"></span>/09/201<span class=\"_ _3\"></span>7<span class=\"_ _cf\"> </span>29<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>niC<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit<span class=\"_ _12a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c0\"> </span>1.000<span class=\"_ _1bc\"> </span>14<span class=\"_ _3\"></span>/06/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _180\"> </span><span class=\"ls58\">938<span class=\"_ _f9\"> </span></span>06<span class=\"_ _3\"></span>/07/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>06<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>07<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Bper<span class=\"_ _1c6\"> </span>C<span class=\"_ _3\"></span>omet <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.<span class=\"_ _c0\"> </span>1.200<span class=\"_ _1bc\"> </span>1<span class=\"_ _3\"></span>5/11/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>29<span class=\"_ _3\"></span>/12/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>esa <span class=\"_ _1\"></span>San P<span class=\"_ _1\"></span>ao<span class=\"_ _3\"></span>lo<span class=\"_ _161\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _180\"> </span><span class=\"ls58\">600<span class=\"_ _f9\"> </span></span>15<span class=\"_ _3\"></span>/11/201<span class=\"_ _3\"></span>8<span class=\"_ _cf\"> </span>29<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c0\"> </span>3.750<span class=\"_ _1bc\"> </span>02<span class=\"_ _3\"></span>/08/201<span class=\"_ _3\"></span>9<span class=\"_ _cf\"> </span>31<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>24<span class=\"_ _26a\"> </span>MP<span class=\"_ _1\"></span>S<span class=\"_ _45\"> </span>Come<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.<span class=\"_ _1\"></span>A.<span class=\"_ _1ad\"> </span>4.66<span class=\"_ _3\"></span>7<span class=\"_ _1bc\"> </span>08/10/20<span class=\"_ _3\"></span>21<span class=\"_ _cf\"> </span>2<span class=\"_ _3\"></span>8/06/20<span class=\"_ _3\"></span>26<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _d5\"> </span>1<span class=\"_ _3\"></span>0.000<span class=\"_ _7a\"> </span>18<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>02/20<span class=\"_ _3\"></span>22<span class=\"_ _112\"> </span>31/12/20<span class=\"_ _3\"></span>26<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>dit <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>gr<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>ole <span class=\"_ _1c7\"> </span>T<span class=\"_ _2\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1b0\"> </span><span class=\"ls58\">500<span class=\"_ _f9\"> </span></span>24/05<span class=\"_ _3\"></span>/<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>18<span class=\"_ _cf\"> </span>30<span class=\"_ _3\"></span>/06/202<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>MP<span class=\"_ _1\"></span>S<span class=\"_ _45\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1ae\"> </span>2.<span class=\"_ _1\"></span>33<span class=\"_ _3\"></span>3<span class=\"_ _1bc\"> </span>13/10/20<span class=\"_ _3\"></span>21<span class=\"_ _cf\"> </span>2<span class=\"_ _3\"></span>8/06/202<span class=\"_ _2\"></span>6<span class=\"_ _26a\"> </span>Banca <span class=\"_ _1\"></span>N<span class=\"_ _3\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>ale de<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Lav<span class=\"_ _c\"></span>or<span class=\"_ _3\"></span>o<span class=\"_ _f3\"> </span>T<span class=\"_ _2\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1a2\"> </span>5.00<span class=\"_ _3\"></span>0<span class=\"_ _1bc\"> </span>18/02/20<span class=\"_ _3\"></span>22<span class=\"_ _cf\"> </span>31<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>12/202<span class=\"_ _3\"></span>6<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _163\"> </span>60.926<span class=\"_ _26a\"> </span>Il <span class=\"_ _8\"></span>decremento <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>voce <span class=\"_ _8\"></span>\u201cc<span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>diti <span class=\"_ _8\"></span>commerciali\u201d <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>ricon<span class=\"_ _1\"></span>ducibile <span class=\"_ _8\"></span>ai <span class=\"_ _8\"></span>minor<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>volumi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>vendita <span class=\"_ _8\"></span>dell\u2019ult<span class=\"_ _1\"></span>imo <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>imestre<span class=\"_ _26a\"> </span>dell\u2019esercizio, <span class=\"_ _20\"></span>rispetto<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>quarto <span class=\"_ _20\"></span>trimestre <span class=\"_ _20\"> </span>202<span class=\"_ _1\"></span>1. <span class=\"_ _20\"></span>Il <span class=\"_ _20\"></span>merito <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>reditizio <span class=\"_ _20\"></span>dei <span class=\"_ _20\"> </span>client<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>si<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>conferma <span class=\"_ _20\"></span>su <span class=\"_ _20\"> </span>buon<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>livelli <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span>affidabilit\u00e0. <span class=\"_ _1\"></span> La voce \u201cAltri crediti\u201d, p<span class=\"_ _1\"></span>er la quota co<span class=\"_ _1\"></span><span class=\"ff2\">rrente, inclu<span class=\"_ _1\"></span>de: </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>un import<span class=\"_ _1\"></span>o di 2.238 m<span class=\"_ _1\"></span>igliaia di Euro quali<span class=\"_ _1\"></span> anticipi a fornitori su<span class=\"_ _1\"></span> forniture di beni;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">un <span class=\"_ _20\"></span>importo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>67<span class=\"_ _1\"></span>5 <span class=\"_ _11\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _20\"></span>(334 <span class=\"_ _11\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _11\"></span>dicembre <span class=\"_ _20\"></span>dell\u2019eserc<span class=\"_ _1\"></span>izio <span class=\"_ _11\"></span>precedente) <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _26a\"> </span></span></span>crediti  vantati <span class=\"_ _90\"> </span>da <span class=\"_ _26\"> </span>alcune  s<span class=\"_ _1\"></span>ociet\u00e0  del  Grup<span class=\"_ _1\"></span>po  nei <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>onfronti  della  s<span class=\"_ _1\"></span>ociet\u00e0  cont<span class=\"_ _1\"></span>rollante  Yama <span class=\"_ _90\"> </span>S<span class=\"_ _1\"></span>.p.A.<span class=\"_ _26a\"> </span>,<span class=\"_ _26a\"> </span>emergenti dai rapport<span class=\"_ _1\"></span>i che regolano i<span class=\"_ _1\"></span>l consolidato fiscal<span class=\"_ _1\"></span>e al quale le stess<span class=\"_ _1\"></span>e partecipano.<span class=\"_ _8\"></span> Tutti <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>crediti <span class=\"_ _20\"></span>non <span class=\"_ _20\"></span>correnti <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>cadono <span class=\"_ _11\"></span>entro <span class=\"_ _20\"></span>5<span class=\"_ _1\"></span> <span class=\"_ _20\"></span><span class=\"ff5\">anni. <span class=\"_ _20\"></span>Non<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>esistono <span class=\"_ _20\"></span>cre<span class=\"_ _1\"></span>diti <span class=\"_ _11\"></span>com<span class=\"_ _1\"></span>merciali <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>cadenti <span class=\"_ _20\"></span>oltre <span class=\"_ _20\"> </span>l\u2019eserciz<span class=\"_ _1\"></span>io<span class=\"_ _26a\"> </span></span>successivo.<span class=\"_ _1\"></span> La movimentazione d<span class=\"_ _1\"></span>el fondo svalutazio<span class=\"_ _1\"></span>ne crediti \u00e8 la seguente:<span class=\"_ _8\"></span> Il valore contabile de<span class=\"_ _1\"></span>lla posta in bilancio non<span class=\"_ _1\"></span> differisce dal suo <span class=\"_ _8\"></span><span class=\"ff7\">fair value</span>.<span class=\"_ _26a\"> </span>Per quanto riguard<span class=\"_ _1\"></span>a specificamente i<span class=\"_ _1\"></span>l rischio di credito s<span class=\"_ _1\"></span>i rimanda a quanto ev<span class=\"_ _1\"></span>idenziato alla Nota<span class=\"_ _1\"></span> 4.1.b).<span class=\"_ _8\"></span> 25. Rimanenze<span class=\"_ _1\"></span> Le giacenze di magazz<span class=\"_ _1\"></span>ino sono cos\u00ec d<span class=\"_ _1\"></span>ettagliate:<span class=\"_ _1\"></span> Le <span class=\"_ _3\"></span>rimanenze al <span class=\"_ _3\"></span>31 dicembre 2022 <span class=\"_ _3\"></span>sono esposte <span class=\"_ _3\"></span>al netto <span class=\"_ _3\"></span>del fondo <span class=\"_ _3\"></span>svalutaz<span class=\"_ _1\"></span>ione pari <span class=\"_ _2\"></span>a 12.200 migliaia <span class=\"_ _3\"></span>di Eur<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span>(11.158 <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _8\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2021) <span class=\"_ _8\"></span>destinat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>allineare <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>voci <span class=\"_ _8\"></span>obsolete <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>lento <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>igiro <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>loro<span class=\"_ _26a\"> </span>presumibile valore di r<span class=\"_ _1\"></span>ealizz<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _f0\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ommer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>11<span class=\"_ _3\"></span>8.47<span class=\"_ _3\"></span>0<span class=\"_ _66\"> </span>1<span class=\"_ _3\"></span>26<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>36<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span>Fon<span class=\"_ _3\"></span>do<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>v<span class=\"_ _c\"></span>alutazione<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _26a\"> </span>(<span class=\"_ _3\"></span>5.837<span class=\"_ _2\"></span>)<span class=\"_ _69\"> </span>(<span class=\"_ _3\"></span>6.00<span class=\"_ _3\"></span>8)<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _8\"></span>diti <span class=\"_ _1\"></span>com<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>rcia<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _26a\"> </span>11<span class=\"_ _3\"></span>2.63<span class=\"_ _3\"></span>3<span class=\"_ _66\"> </span>1<span class=\"_ _3\"></span>20<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>36<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ommer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ali v<span class=\"_ _9\"></span>er<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>o pa<span class=\"_ _3\"></span>rti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>late (n<span class=\"_ _3\"></span>ota 40)<span class=\"_ _26a\"> </span>404<span class=\"_ _1ae\"> </span>732<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>atei <span class=\"_ _1\"></span>e risc<span class=\"_ _8\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> 2.62<span class=\"_ _3\"></span>3<span class=\"_ _77\"> </span>2.27<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>1<span class=\"_ _77\"> </span>4.62<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _8\"></span>rt<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span> corre<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span>11<span class=\"_ _3\"></span>9.66<span class=\"_ _3\"></span>1<span class=\"_ _66\"> </span>1<span class=\"_ _3\"></span>27<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>98<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>no<span class=\"_ _3\"></span>n c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>60<span class=\"_ _136\"> </span>59<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _8\"></span>rt<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span> non<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>corr<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>nte<span class=\"_ _26a\"> </span>60<span class=\"_ _136\"> </span>59<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _f0\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>Sa<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>do <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ni<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>6.00<span class=\"_ _3\"></span>8<span class=\"_ _77\"> </span>5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>97<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Var<span class=\"_ _3\"></span>iaz<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>e ar<span class=\"_ _2\"></span>ea<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>di c<span class=\"_ _1\"></span>onsolida<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>to <span class=\"_ _1\"></span>in en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>ata<span class=\"_ _26a\"> </span>2<span class=\"_ _1c8\"> </span><span class=\"ls5a\">13<span class=\"_ _26a\"> </span></span>Ac<span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>an<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>ona<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>no<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>a 13<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>1.15<span class=\"_ _3\"></span>2<span class=\"_ _dd\"> </span><span class=\"ls5a\">750<span class=\"_ _26a\"> </span></span>D<span class=\"_ _3\"></span>ecre<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>1.37<span class=\"_ _3\"></span>3)<span class=\"_ _d2\"> </span> <span class=\"_ _1\"></span>(7<span class=\"_ _2\"></span>56)<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>if<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>er<span class=\"_ _3\"></span>en<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>e di c<span class=\"_ _1\"></span>ambio<span class=\"_ _26a\"> </span>48<span class=\"_ _136\"> </span>27<span class=\"_ _26a\"> </span>Sa<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>do <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>5.83<span class=\"_ _3\"></span>7<span class=\"_ _77\"> </span>6<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>00<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _7e\"> </span>31.12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>2<span class=\"_ _f0\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>Mater<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>e pr<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>me, <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>uss<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>dia<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ie e di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>u<span class=\"_ _3\"></span>mo<span class=\"_ _ed\"> </span>76<span class=\"_ _3\"></span>.660<span class=\"_ _69\"> </span>7<span class=\"_ _3\"></span>0.28<span class=\"_ _2\"></span>3<span class=\"_ _26a\"> </span>Pro<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>tt<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>n c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o di lav<span class=\"_ _c\"></span>or<span class=\"_ _2\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _2\"></span>e <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>emilav<span class=\"_ _c\"></span>o<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ati<span class=\"_ _cc\"> </span>36<span class=\"_ _3\"></span>.427<span class=\"_ _1bc\"> </span>34.51<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Pro<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span>tt<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> fin<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>e mer<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _57\"> </span>120<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>88<span class=\"_ _3\"></span>3<span class=\"_ _64\"> </span>11<span class=\"_ _2\"></span>2.<span class=\"_ _1\"></span>51<span class=\"_ _2\"></span>5<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1c9\"> </span>23<span class=\"_ _2\"></span>3.970<span class=\"_ _75\"> </span>217<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>316<span class=\"_ _26a\"> </span>Il<span class=\"ls1\"> <span class=\"_ _1f\"> </span>fondo  svalutazione <span class=\"_ _1e\"> </span>ma<span class=\"_ _1\"></span>gazzino  riflette <span class=\"_ _1e\"> </span>la  stima <span class=\"_ _1e\"> </span>cir<span class=\"_ _1\"></span>ca  le <span class=\"_ _1e\"> </span>perdite  di <span class=\"_ _1e\"> </span>valore  attese  da<span class=\"_ _3\"></span>  parte <span class=\"_ _1e\"> </span>del  Gruppo,<span class=\"_ _26a\"> </span></span>determinate <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>funz<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>ell\u2019esperienza  pa<span class=\"_ _3\"></span>ssata  e <span class=\"_ _1e\"> </span>dell\u2019andamen<span class=\"_ _1\"></span>to <span class=\"_ _1e\"> </span>storico  e <span class=\"_ _21\"> </span>pr<span class=\"_ _1\"></span>ospettico  del <span class=\"_ _1e\"> </span>mercato <span class=\"_ _1f\"> </span>dei<span class=\"_ _26a\"> </span>prodotti. Il dettaglio del movime<span class=\"_ _1\"></span>nto del fond<span class=\"_ _1\"></span>o sv<span class=\"_ _1\"></span>alutazione maga<span class=\"_ _1\"></span>zzino \u00e8 il seguente:<span class=\"_ _1\"></span> 26. Disponibilit\u00e0 liqu<span class=\"_ _1\"></span>ide<span class=\"_ _26a\"> </span>Le disponibilit\u00e0 liquide<span class=\"_ _1\"></span> sono cos\u00ec dettagliate:<span class=\"_ _8\"></span> Ai fini del rendicont<span class=\"_ _1\"></span>o finanziario <span class=\"_ _1\"></span>le disponibilit\u00e0 liquid<span class=\"_ _1\"></span>e ed equivalenti di f<span class=\"_ _1\"></span>ine esercizio compre<span class=\"_ _1\"></span>ndono:<span class=\"_ _8\"></span> 27. Altre attivit\u00e0 finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>al<span class=\"_ _1\"></span>tre <span class=\"_ _3\"></span>attivit\u00e0 <span class=\"_ _3\"></span>finanziarie ammontano <span class=\"_ _2\"></span>a 1.151 <span class=\"_ _2\"></span>mig<span class=\"_ _1\"></span>liaia <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>E<span class=\"_ _1\"></span>uro, <span class=\"_ _3\"></span>quale qu<span class=\"_ _3\"></span>ota non <span class=\"_ _2\"></span>cor<span class=\"_ _1\"></span>rente, <span class=\"_ _2\"></span>e 38 <span class=\"_ _2\"></span>migl<span class=\"_ _1\"></span>iaia <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>Euro<span class=\"_ _26a\"> </span>quale quota corrent<span class=\"_ _1\"></span>e e si riferiscono <span class=\"_ _1\"></span>prevalentemente <span class=\"_ _1\"></span>a:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>un import<span class=\"_ _1\"></span>o di 549 mig<span class=\"_ _1\"></span>liaia di Euro relat<span class=\"_ _1\"></span>ivo a depositi in <span class=\"_ _1\"></span>garanzia, iscritto tra le <span class=\"_ _1\"></span>attivit\u00e0 non corrent<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>; <span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>un import<span class=\"_ _1\"></span>o di 470 mig<span class=\"_ _1\"></span>liaia di Euro relat<span class=\"_ _1\"></span>ivo a cauzioni, iscr<span class=\"_ _1\"></span>itto tra le attivit\u00e0 non corr<span class=\"_ _1\"></span>enti<span class=\"_ _1\"></span>;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>un <span class=\"_ _1\"></span>importo <span class=\"_ _1\"></span>compl<span class=\"_ _1\"></span>essivo <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>148 m<span class=\"_ _1\"></span>igliaia d<span class=\"_ _1\"></span>i E<span class=\"_ _1\"></span>uro, di <span class=\"_ _1\"></span>cui <span class=\"_ _1\"></span>111 <span class=\"_ _1\"></span>migliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>quale <span class=\"_ _1\"></span>quota <span class=\"_ _1\"></span>non c<span class=\"_ _1\"></span>orrente<span class=\"_ _26a\"> </span></span>e <span class=\"_ _2\"></span>37 <span class=\"_ _2\"></span>mig<span class=\"_ _1\"></span>liaia <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>Euro <span class=\"_ _2\"></span>quale <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uota <span class=\"_ _2\"></span>corrente<span class=\"_ _1\"></span>, <span class=\"_ _2\"></span>corrisponde<span class=\"_ _1\"></span>nte <span class=\"_ _2\"></span>al <span class=\"_ _2\"></span>cr<span class=\"_ _1\"></span>edito <span class=\"_ _2\"></span>vantato<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>nei <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>nfronti <span class=\"_ _2\"></span>dell<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>societ\u00e0<span class=\"_ _26a\"> </span>controllante Yama <span class=\"_ _2\"></span>S.p.A. a <span class=\"_ _2\"></span>titolo di <span class=\"_ _2\"></span>reint<span class=\"_ _1\"></span>egro <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>atr<span class=\"_ _1\"></span>imoniale <span class=\"_ _3\"></span>riconosc<span class=\"_ _1\"></span>iuto <span class=\"_ _3\"></span>dalla <span class=\"_ _3\"></span>stessa al <span class=\"_ _2\"></span>Gruppo a <span class=\"_ _2\"></span>front<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>di <span class=\"_ _3\"></span>oneri sostenuti da<span class=\"_ _3\"></span> alcune societ\u00e0 <span class=\"_ _2\"></span>e relativi al <span class=\"_ _2\"></span>per<span class=\"_ _1\"></span>iodo in <span class=\"_ _3\"></span>cui Yama <span class=\"_ _3\"></span>S.p.A. esercitava il<span class=\"_ _3\"></span> controllo <span class=\"_ _3\"></span>sulle<span class=\"_ _26a\"> </span>stesse.<span class=\"_ _26a\"> </span>28. Patrimonio nett<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Capitale sociale <span class=\"_ _1\"></span> Al <span class=\"_ _21\"> </span>31 <span class=\"_ _1e\"> </span>dicembre <span class=\"_ _1e\"> </span>2022 <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>capitale <span class=\"_ _1e\"> </span>sociale <span class=\"_ _1e\"> </span>inte<span class=\"_ _1\"></span>ramente <span class=\"_ _1e\"> </span>sottoscritto <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>ersato, <span class=\"_ _1e\"> </span>che <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>ha <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ubito <span class=\"_ _21\"> </span>variaz<span class=\"_ _1\"></span>ioni<span class=\"_ _26a\"> </span>nell\u2019esercizio <span class=\"_ _23\"> </span>in <span class=\"_ _20\"> </span>esa<span class=\"_ _1\"></span>me, <span class=\"_ _20\"> </span>a<span class=\"_ _1\"></span>mmonta <span class=\"_ _23\"> </span>a <span class=\"_ _20\"> </span>42.<span class=\"_ _1\"></span>623 <span class=\"_ _20\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>Euro <span class=\"_ _23\"> </span>ed <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _20\"></span>rappresenta<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>a <span class=\"_ _20\"> </span>n. <span class=\"_ _23\"> </span>163.934.83<span class=\"_ _1\"></span>5 <span class=\"_ _20\"> </span>az<span class=\"_ _1\"></span>ioni<span class=\"_ _26a\"> </span>ordinarie del valore n<span class=\"_ _1\"></span>ominale di Euro <span class=\"_ _1\"></span>0,26 cadauna. <span class=\"_ _1\"></span> Tutte le azioni sono stat<span class=\"_ _1\"></span>e interamente<span class=\"_ _1\"></span> liberat<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span>Da<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> i<span class=\"_ _3\"></span>n m<span class=\"_ _9\"></span>i<span class=\"_ _3\"></span>gl<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ai<span class=\"_ _2\"></span>a d<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span> Eu<span class=\"_ _3\"></span>ro<span class=\"_ _26a\"> </span>Es<span class=\"_ _2\"></span>erc<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _2\"></span>o 20<span class=\"_ _2\"></span>22<span class=\"_ _bb\"> </span>Es<span class=\"_ _2\"></span>erci<span class=\"_ _2\"></span>zio<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>Sa<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>do<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _2\"></span>ni<span class=\"_ _2\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>al<span class=\"_ _2\"></span>e<span class=\"_ _3\"></span> 1<span class=\"_ _3\"></span>1.1<span class=\"_ _3\"></span>5<span class=\"_ _3\"></span>8<span class=\"_ _e7\"> </span>1<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>.73<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Va<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iaz<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>o<span class=\"_ _3\"></span>ne<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>rea<span class=\"_ _3\"></span> di c<span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>so<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>ida<span class=\"_ _3\"></span>m<span class=\"_ _9\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _2\"></span>o<span class=\"_ _26a\"> </span>120<span class=\"_ _12b\"> </span>184<span class=\"_ _26a\"> </span>Acc<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>nt<span class=\"_ _2\"></span>o<span class=\"_ _3\"></span>na<span class=\"_ _2\"></span>m<span class=\"_ _2\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _3\"></span>o<span class=\"_ _3\"></span> 1<span class=\"_ _3\"></span>.62<span class=\"_ _3\"></span>3<span class=\"_ _83\"> </span><span class=\"ls5b\">645<span class=\"_ _26a\"> </span></span>Effet<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>o c<span class=\"_ _1\"></span>a<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>b<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>67<span class=\"_ _1c8\"> </span>88<span class=\"_ _26a\"> </span>U<span class=\"_ _9\"></span>t<span class=\"_ _3\"></span>il<span class=\"_ _3\"></span>izz<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> (76<span class=\"_ _2\"></span>8)<span class=\"_ _19d\"> </span>(49<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>Sa<span class=\"_ _2\"></span>l<span class=\"_ _3\"></span>do<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>i<span class=\"_ _2\"></span>na<span class=\"_ _3\"></span>l<span class=\"_ _2\"></span>e<span class=\"_ _26a\"> </span>1<span class=\"_ _3\"></span>2.2<span class=\"_ _3\"></span>0<span class=\"_ _3\"></span>0<span class=\"_ _e7\"> </span>1<span class=\"_ _3\"></span>1<span class=\"_ _3\"></span>.15<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _139\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _89\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ep<span class=\"_ _2\"></span>os<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>po<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>tali <span class=\"_ _1\"></span>e ba<span class=\"_ _2\"></span>nc<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _ec\"> </span>86<span class=\"_ _3\"></span>.340<span class=\"_ _69\"> </span>7<span class=\"_ _3\"></span>9.56<span class=\"_ _2\"></span>6<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>ass<span class=\"_ _1\"></span>a <span class=\"_ _1ca\"> </span><span class=\"ls5c\">137 <span class=\"_ _d5\"> </span>79<span class=\"_ _26a\"> </span></span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _1cb\"> </span>86<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>47<span class=\"_ _3\"></span>7<span class=\"_ _69\"> </span>79<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>64<span class=\"_ _2\"></span>5<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _139\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _89\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>po<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>ibilit<span class=\"_ _1\"></span>\u00e0 liqu<span class=\"_ _3\"></span>ide<span class=\"_ _3\"></span> <span class=\"_ _150\"> </span>8<span class=\"_ _2\"></span>6.<span class=\"_ _1\"></span>47<span class=\"_ _2\"></span>7<span class=\"_ _82\"> </span>7<span class=\"_ _3\"></span>9<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>64<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _2\"></span>nti<span class=\"_ _1\"></span> pass<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>i<span class=\"_ _1\"></span> (n<span class=\"_ _3\"></span>ota 30<span class=\"_ _3\"></span>)<span class=\"_ _63\"> </span>(<span class=\"_ _3\"></span>3.12<span class=\"_ _2\"></span>8)<span class=\"_ _1cc\"> </span>(<span class=\"_ _3\"></span>2.81<span class=\"_ _3\"></span>6<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _1cb\"> </span>83<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>34<span class=\"_ _3\"></span>9<span class=\"_ _69\"> </span>76<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>82<span class=\"_ _2\"></span>9<span class=\"_ _26a\"> </span>Azioni proprie <span class=\"_ _1\"></span> Il <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>com<span class=\"_ _1\"></span>plessivo <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>azioni <span class=\"_ _1\"></span>pro<span class=\"_ _1\"></span>prie <span class=\"_ _1\"></span>poss<span class=\"_ _1\"></span>edute <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>31 <span class=\"_ _1\"></span>dicembre <span class=\"_ _8\"></span>2022 <span class=\"_ _1\"></span>amm<span class=\"_ _1\"></span>onta <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>2.<span class=\"_ _1\"></span>835 <span class=\"_ _1\"></span>migliaia <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>Euro,<span class=\"_ _1\"></span> mentre ammontava a<span class=\"_ _1\"></span> 2.029 migliaia d<span class=\"_ _1\"></span>i Euro al 31 dice<span class=\"_ _1\"></span>mbre 2021.<span class=\"_ _8\"></span> Al 3<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>dicembre <span class=\"_ _8\"></span>2021, <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>Societ\u00e0 <span class=\"_ _1\"></span>deteneva <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span><span class=\"ff5\">portafoglio <span class=\"_ _8\"></span>numero <span class=\"_ _1\"></span>397.233 <span class=\"_ _8\"></span>azioni <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>oprie, <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>corso <span class=\"_ _8\"></span>dell\u2019ultimo<span class=\"_ _1\"></span> </span>trimestre <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ell\u2019esercizio <span class=\"_ _20\"></span>2022 <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _20\"></span>ha <span class=\"_ _11\"></span>acqu<span class=\"_ _1\"></span>istato <span class=\"_ _11\"></span>n. <span class=\"_ _20\"> </span>700.000, <span class=\"_ _20\"> </span>pertanto, <span class=\"_ _20\"></span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _20\"></span>2022 <span class=\"_ _11\"></span>la <span class=\"_ _20\"></span>societ\u00e0<span class=\"_ _1\"></span> detiene numero 1.0<span class=\"_ _1\"></span>97.233 azioni.<span class=\"_ _1\"></span> Per <span class=\"_ _20\"> </span>ci\u00f2 <span class=\"_ _23\"> </span>che <span class=\"_ _23\"> </span>concerne <span class=\"_ _23\"> </span>la <span class=\"_ _20\"></span>vendita <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>l\u2019acquisto <span class=\"_ _20\"> </span>di <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span><span class=\"ff2\">zioni <span class=\"_ _23\"></span>proprie <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span>ffettuati <span class=\"_ _23\"></span>durante <span class=\"_ _20\"></span>il <span class=\"_ _23\"> </span>periodo, <span class=\"_ _23\"></span>si <span class=\"_ _20\"></span>rima<span class=\"_ _1\"></span>nda <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla<span class=\"_ _26a\"> </span></span>apposita sezione de<span class=\"_ _1\"></span>lla relazione sulla g<span class=\"_ _1\"></span>estione.<span class=\"_ _1\"></span> Dividendi<span class=\"_ _26a\"> </span>L\u2019assemblea degli <span class=\"_ _3\"></span>Azionisti di <span class=\"_ _2\"></span>Emak S.p.A. <span class=\"_ _3\"></span>del 29 <span class=\"_ _2\"></span>apri<span class=\"_ _1\"></span>le <span class=\"_ _3\"></span>2022 ha <span class=\"_ _2\"></span>deliberat<span class=\"_ _1\"></span>o di <span class=\"_ _2\"></span>desti<span class=\"_ _1\"></span>nare <span class=\"_ _3\"></span>l\u2019utile d\u2019esercizio <span class=\"_ _3\"></span>2021<span class=\"_ _26a\"> </span>per <span class=\"_ _8\"></span>4<span class=\"_ _1\"></span>97 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>riserva <span class=\"_ _11\"></span>legale, <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>454 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>riserva <span class=\"_ _11\"></span>straordinaria <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>complessivi<span class=\"_ _26a\"> </span>12.266 <span class=\"_ _20\"></span>mig<span class=\"_ _1\"></span>liaia <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>Euro <span class=\"_ _23\"></span>quale <span class=\"_ _23\"></span>dividen<span class=\"_ _1\"></span>do <span class=\"_ _20\"></span>ag<span class=\"_ _1\"></span>li <span class=\"_ _20\"></span>azion<span class=\"_ _1\"></span>isti <span class=\"_ _20\"></span>(<span>0,075</span> <span class=\"_ _23\"></span>Euro <span class=\"_ _20\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _20\"></span>az<span class=\"_ _1\"></span>ione) <span class=\"_ _23\"></span>anche <span class=\"_ _20\"></span>tramite <span class=\"_ _23\"></span>utilizzo <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span>riserva utili a nuovo.<span class=\"_ _1\"></span> Con <span class=\"_ _2\"></span>l\u2019approv<span class=\"_ _1\"></span>azione <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>pres<span class=\"_ _1\"></span>ente <span class=\"_ _3\"></span>bilancio <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>propo<span class=\"_ _1\"></span>ne <span class=\"_ _3\"></span>la <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>istribuzione <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>un di<span class=\"_ _3\"></span>vide<span class=\"_ _1\"></span>ndo <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>omplessivo <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>Euro<span> <span class=\"_ _3\"></span>0,065<span class=\"_ _26a\"> </span></span>per azione, pari a compl<span class=\"_ _1\"></span>essivi <span>10.584</span> mig<span class=\"_ _1\"></span>liaia<span class=\"_ _1\"></span> di Euro.<span class=\"_ _1\"></span> Riserva da sovrappr<span class=\"_ _1\"></span>ezzo azioni<span class=\"_ _1\"></span> Al <span class=\"_ _23\"></span>31 <span class=\"_ _23\"> </span>dicem<span class=\"_ _1\"></span>bre <span class=\"_ _23\"> </span>2022 <span class=\"_ _21\"> </span>la <span class=\"_ _23\"> </span>riserv<span class=\"_ _1\"></span>a <span class=\"_ _23\"></span>sovrapprezzo <span class=\"_ _21\"> </span>azioni <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _21\"> </span>pari <span class=\"_ _23\"> </span>a <span class=\"_ _23\"> </span>41.51<span class=\"_ _1\"></span>3 <span class=\"_ _23\"> </span>migliaia <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>Euro, <span class=\"_ _21\"> </span>ed <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _23\"> </span>cost<span class=\"_ _1\"></span>ituita <span class=\"_ _23\"> </span>dai<span class=\"_ _26a\"> </span>sovrapprezzi sulle az<span class=\"_ _1\"></span>ioni di succes<span class=\"_ _1\"></span>siva emissione.<span class=\"_ _1\"></span> La riserva \u00e8 esposta al<span class=\"_ _1\"></span> netto degl<span class=\"_ _1\"></span>i oneri pregressi leg<span class=\"_ _1\"></span>ati<span class=\"_ _1\"></span> <span class=\"ff5\">all\u2019aumento <span class=\"_ _1\"></span>di capitale pari a 1.598 m<span class=\"_ _1\"></span>igliaia di Euro e<span class=\"_ _26a\"> </span></span>depurati del relativo eff<span class=\"_ _1\"></span>etto fiscale di 501 m<span class=\"_ _1\"></span>igliaia di Euro. <span class=\"_ _1\"></span> Riserva legale<span class=\"_ _1\"></span> Al <span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>20<span class=\"_ _1\"></span>22 <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>riserv<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>legale <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>pari <span class=\"_ _8\"></span>a <span class=\"_ _11\"></span>4.247 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span>3.750 <span class=\"_ _8\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _11\"></span>al <span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _8\"></span>dicembre<span class=\"_ _26a\"> </span>2021). Riserve di rivalutaz<span class=\"_ _1\"></span>ione Al <span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022 <span class=\"_ _11\"></span>la <span class=\"_ _1\"></span>ris<span class=\"_ _1\"></span>erva <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>rivalutazione <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>mprende <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>riserve <span class=\"_ _8\"></span>der<span class=\"_ _1\"></span>ivanti <span class=\"_ _8\"></span>dalle <span class=\"_ _8\"></span>rivalutazio<span class=\"_ _1\"></span>ni <span class=\"_ _1\"></span>ex<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>L. <span class=\"_ _8\"></span>72/83<span class=\"_ _26a\"> </span>per 371 migliaia di Eur<span class=\"_ _1\"></span>o, ex L. 413/91 p<span class=\"_ _1\"></span>er 767 migliaia <span class=\"_ _1\"></span>di Euro e ex DL. 104/2<span class=\"_ _1\"></span>020 per 3.215 migl<span class=\"_ _1\"></span>iaia di Euro.<span class=\"_ _8\"></span> Riserva per diffe<span class=\"_ _1\"></span>renze di conver<span class=\"_ _1\"></span>sione<span class=\"_ _26a\"> </span>Al <span class=\"_ _1e\"> </span>31<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>icembre  2022 <span class=\"_ _1e\"> </span>la  riserva <span class=\"_ _1e\"> </span>per  differenza <span class=\"_ _1e\"> </span>di  conversione  ammonta <span class=\"_ _1e\"> </span>a  2.264 <span class=\"_ _1e\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _1f\"> </span>di  E<span class=\"_ _3\"></span>uro  ed <span class=\"_ _1e\"> </span>\u00e8<span class=\"_ _26a\"> </span>interamente <span class=\"_ _1e\"> </span>im<span class=\"_ _1\"></span>putabile <span class=\"_ _1e\"> </span>a<span class=\"_ _1\"></span>lle <span class=\"_ _1e\"> </span>differenze  ge<span class=\"_ _3\"></span>neratesi<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>dalla <span class=\"_ _1e\"> </span>trad<span class=\"_ _1\"></span>uzione <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>bilanci  ne<span class=\"_ _3\"></span>lla <span class=\"_ _1e\"> </span>v<span class=\"_ _1\"></span>aluta <span class=\"_ _1e\"> </span>funziona<span class=\"_ _1\"></span>le <span class=\"_ _1e\"> </span>del<span class=\"_ _26a\"> </span>Gruppo.<span class=\"_ _26a\"> </span>La  riserva  ha<span class=\"_ _1\"></span>  registrat<span class=\"_ _1\"></span>o  un <span class=\"_ _90\"> </span>ade<span class=\"_ _1\"></span>guamento  p<span class=\"_ _1\"></span>ositivo <span class=\"_ _26\"> </span>di  2.089  miglia<span class=\"_ _1\"></span>ia  di  Euro<span class=\"_ _1\"></span>  principal<span class=\"_ _1\"></span>mente  per <span class=\"_ _26\"> </span>effetto<span class=\"_ _26a\"> </span>dell\u2019andamento de<span class=\"_ _1\"></span>lle valute Dollaro st<span class=\"_ _1\"></span>atunitense e Rea<span class=\"_ _1\"></span>l brasiliano.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Riserva IAS 19<span class=\"_ _1\"></span> Al <span class=\"_ _1\"></span>31 <span class=\"_ _1\"></span>dicem<span class=\"_ _1\"></span>bre <span class=\"_ _1\"></span>2022<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>ris<span class=\"_ _1\"></span>erva <span class=\"_ _1\"></span>IA<span class=\"_ _1\"></span>S <span class=\"_ _1\"></span>19 <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1\"></span>ad <span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>ammo<span class=\"_ _1\"></span>ntare <span class=\"_ _1\"></span>negativo<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>95<span class=\"_ _1\"></span>2 <span class=\"_ _1\"></span>migliai<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro, <span class=\"_ _8\"></span>relativa <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lle<span class=\"_ _26a\"> </span>differenze <span class=\"_ _20\"></span>attuariali <span class=\"_ _20\"></span>da <span class=\"_ _20\"></span>valutazione <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>benefici <span class=\"_ _20\"></span>success<span class=\"_ _1\"></span>ivi <span class=\"_ _11\"></span>ai <span class=\"_ _20\"></span>dipendent<span class=\"_ _1\"></span>i. <span class=\"_ _11\"></span>La <span class=\"_ _20\"></span>ste<span class=\"_ _1\"></span>ssa <span class=\"_ _20\"></span>si <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>movimentata <span class=\"_ _20\"></span>al <span class=\"_ _20\"></span>3<span class=\"_ _1\"></span>1<span class=\"_ _26a\"> </span>dicembre 2022 per 5<span class=\"_ _1\"></span>35 migliaia di Euro<span class=\"_ _8\"></span>.<span class=\"_ _26a\"> </span>Altre riserve<span class=\"_ _26a\"> </span>Al 31 dicembre 2022<span class=\"_ _1\"></span> le altre riserve com<span class=\"_ _1\"></span>prendono:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>la  riserva <span class=\"_ _1e\"> </span>straord<span class=\"_ _1\"></span>inaria  pari <span class=\"_ _1e\"> </span>a  28.527 <span class=\"_ _1e\"> </span>migl<span class=\"_ _1\"></span>iaia <span class=\"_ _1f\"> </span>di <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro, <span class=\"_ _1f\"> </span>comprensiva  di <span class=\"_ _1e\"> </span>tutti  gli <span class=\"_ _1e\"> </span>accanton<span class=\"_ _1\"></span>amenti <span class=\"_ _1f\"> </span>per<span class=\"_ _26a\"> </span></span>destinazione degli utili<span class=\"_ _1\"></span> di esercizi preced<span class=\"_ _1\"></span>enti;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>le <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iserve <span class=\"_ _8\"></span>in s<span class=\"_ _1\"></span>ospensione<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d'imposta <span class=\"_ _8\"></span>si <span class=\"_ _8\"></span>riferiscono <span class=\"_ _8\"></span>ad <span class=\"_ _1\"></span>ac<span class=\"_ _1\"></span>cantonamenti <span class=\"_ _1\"></span>fisc<span class=\"_ _1\"></span>ali <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>contributi <span class=\"_ _8\"></span>e <span class=\"_ _1\"></span>liberalit\u00e0 <span class=\"_ _8\"></span>per<span class=\"_ _26a\"> </span></span>129 migliaia di Euro;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>r<span class=\"_ _1\"></span>iserve per avanzi da fusi<span class=\"_ _1\"></span>one per 3.561 m<span class=\"_ _1\"></span>igliaia di Euro<span class=\"_ _1\"></span>;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>r<span class=\"_ _1\"></span>iserve da contributi in co<span class=\"_ _1\"></span>nto capitale derivant<span class=\"_ _1\"></span>i dalla fus<span class=\"_ _1\"></span>ione di Bertolini S.p.A. per<span class=\"_ _1\"></span> 122 migliaia di <span class=\"_ _1\"></span>Eu<span class=\"_ _1\"></span>ro.<span class=\"_ _1\"></span> </span>Per <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>dettagl<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>elativo <span class=\"_ _8\"></span>ai <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>incoli <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>alla <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>istribuibilit\u00e0 <span class=\"_ _8\"></span>delle <span class=\"_ _8\"></span>riserve <span class=\"_ _8\"></span>si <span class=\"_ _8\"></span>rimanda <span class=\"_ _8\"></span>allo <span class=\"_ _8\"></span>specifico <span class=\"_ _8\"></span>prospetto <span class=\"_ _8\"></span>illustrato<span class=\"_ _26a\"> </span>nelle note al bilancio de<span class=\"_ _1\"></span>lla Capogrupp<span class=\"_ _1\"></span>o Emak S.p.A<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span>29. Debiti commerci<span class=\"_ _1\"></span>ali e altri debiti<span class=\"_ _1\"></span> Il dettaglio dei debit<span class=\"_ _1\"></span>i commerciali e<span class=\"_ _1\"></span> verso <span class=\"_ _1\"></span>altri \u00e8 cos\u00ec compost<span class=\"_ _1\"></span>o:<span class=\"_ _26a\"> </span><span class=\"ff4\"> </span>Il valore contabile de<span class=\"_ _1\"></span>lla posta in bilancio non<span class=\"_ _1\"></span> differisce dal suo <span class=\"_ _8\"></span><span class=\"ff7\">fair value</span>.<span class=\"_ _26a\"> </span>La  voce  \u201c<span class=\"ff4\">Debiti  comm<span class=\"_ _1\"></span>erciali</span>\u201d  include  1.00<span class=\"_ _1\"></span>4  migliaia  di  Euro  relativi  al  debito  sc<span class=\"_ _1\"></span>adente  nel <span class=\"_ _26\"> </span><span class=\"ff2\">2023  per<span class=\"_ _1\"></span> </span>l\u2019acquisizione <span class=\"_ _11\"></span>da <span class=\"_ _8\"></span>parte <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>Speed <span class=\"_ _8\"></span>France <span class=\"_ _11\"></span>della <span class=\"_ _8\"></span>tecnolo<span class=\"_ _1\"></span>gia <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>la <span class=\"_ _8\"></span>produzione <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>mo<span class=\"_ _1\"></span>no <span class=\"_ _8\"></span>filamenti <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>poliestere <span class=\"_ _11\"></span>e<span class=\"_ _26a\"> </span>cavi <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>ap<span class=\"_ _1\"></span>plicazioni <span class=\"_ _2\"></span>agr<span class=\"_ _1\"></span>icole; <span class=\"_ _2\"></span>la <span class=\"_ _3\"></span>quota <span class=\"_ _2\"></span>non<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>corrente <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>conta<span class=\"_ _1\"></span>bilizzata <span class=\"_ _2\"></span>nel<span class=\"_ _1\"></span>la <span class=\"_ _2\"></span>voce <span class=\"_ _2\"></span>\u201cA<span class=\"_ _1\"></span>ltre <span class=\"_ _2\"></span>passivi<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _2\"></span>a<span class=\"_ _8\"></span><span class=\"ff2\"> <span class=\"_ _2\"></span><span class=\"ff5\">lungo<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>termine<span class=\"_ _1\"></span>\u201d<span class=\"_ _26a\"> </span></span></span>(nota 35).<span class=\"_ _26a\"> </span>Il <span class=\"_ _11\"></span><span class=\"ff5\">d<span class=\"_ _1\"></span>ecremento <span class=\"_ _20\"> </span>dei <span class=\"_ _20\"> </span>debiti <span class=\"_ _20\"> </span>co<span class=\"_ _1\"></span>mmerciali <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _20\"></span>riconducibile <span class=\"_ _20\"> </span>a<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>m<span class=\"_ _1\"></span>inori <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>olumi <span class=\"_ _20\"> </span>di <span class=\"_ _20\"></span>acquisto<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>ll\u2019ultima <span class=\"_ _20\"></span>parte <span class=\"_ _20\"></span>dell\u2019anno<span class=\"_ _26a\"> </span></span>come meglio comment<span class=\"_ _1\"></span>ato in Nota 9.<span class=\"_ _1\"></span> La <span class=\"_ _3\"></span>voce \u201cAltri debiti\u201d <span class=\"_ _3\"></span>include<span class=\"_ _1\"></span> 53<span class=\"_ _3\"></span>6 migliaia di <span class=\"_ _3\"></span>Euro, contro 3.561 <span class=\"_ _3\"></span>migliaia di Euro <span class=\"_ _3\"></span>al 31 <span class=\"_ _3\"></span>dicembre 2021, per <span class=\"_ _3\"></span>debiti<span class=\"_ _26a\"> </span>per <span class=\"_ _20\"></span>imposte <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>orrenti <span class=\"_ _20\"></span>IRE<span class=\"_ _1\"></span>S <span class=\"_ _20\"></span>contabilizz<span class=\"_ _1\"></span>ati <span class=\"_ _20\"></span>da <span class=\"_ _20\"></span>alc<span class=\"_ _1\"></span>une <span class=\"_ _20\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _20\"></span>verso <span class=\"_ _23\"></span>la <span class=\"_ _20\"></span>societ\u00e0 <span class=\"_ _20\"></span>contro<span class=\"_ _1\"></span>llante <span class=\"_ _20\"></span>Yama<span class=\"_ _1\"></span> S.p.A. e derivanti d<span class=\"_ _1\"></span>ai rapporti che regolano i<span class=\"_ _1\"></span>l consolidato fisca<span class=\"_ _1\"></span>le alle quali le stess<span class=\"_ _1\"></span>e partecipano. <span class=\"_ _8\"></span> 30. Passivit\u00e0 finanziari<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Il dettaglio dei <span class=\"ff4 lsf\">fi<span class=\"ls1\">nanz<span class=\"_ _1\"></span>iamenti corrent<span class=\"_ _1\"></span>i</span></span> \u00e8 il seguente:<span class=\"_ _1\"></span> Il <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lor<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tab<span class=\"_ _1\"></span>ile <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _1\"></span>fi<span class=\"_ _1\"></span>nan<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>iam<span class=\"_ _1\"></span>ent<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span> br<span class=\"_ _1\"></span>ev<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>ter<span class=\"_ _1\"></span>min<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>ppr<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ima <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>lor<span class=\"_ _1\"></span>o v<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span>.<span class=\"_ _20\"></span> La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>28 <span class=\"_ _21\"> </span>mig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>E<span class=\"_ _1\"></span>uro<span class=\"_ _8\"></span> <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>ife<span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>ebit<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>st<span class=\"_ _1\"></span>imat<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>pe<span class=\"_ _1\"></span>r <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>pr<span class=\"_ _1\"></span>ezz<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>3<span class=\"_ _1\"></span>0% <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>lla <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>et\u00e0<span class=\"_ _1\"></span> </span>Mar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>ate<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _8\"></span><span class=\"ff8 fs41\"> </span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>dal <span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>mag<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>o 2<span class=\"_ _1\"></span>02<span class=\"_ _1\"></span>3.<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>42 <span class=\"_ _20\"></span>mig<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>aia<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>if<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ebi<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>at<span class=\"_ _1\"></span>tua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>mat<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>per<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span></span>4,5% <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>azio<span class=\"_ _1\"></span>ni <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span>Agres <span class=\"_ _1\"></span>Sistemas<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Eletr\u00f4nico<span class=\"_ _1\"></span>s <span class=\"_ _1\"></span>S.A <span class=\"_ _8\"></span><span class=\"ff5\">e <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>ol<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nd<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>C<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span></span><span class=\"ls5d\">\u201d <span class=\"_ _1\"></span></span></span>da <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itarsi <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>1<span class=\"_ _26a\"> </span>gennaio 2023;<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>86 mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iai<span class=\"_ _1\"></span>a di<span class=\"_ _1\"></span> Euro<span class=\"_ _1\"></span> rif<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> al deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o ve<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o il so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>o ce<span class=\"_ _1\"></span>den<span class=\"_ _1\"></span>te<span class=\"_ _1\"></span> dell<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>oc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _1\"></span> Val<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span>y Ind<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>ies<span class=\"_ _1\"></span> LLP<span class=\"_ _1\"></span> per<span class=\"_ _1\"></span> </span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l re<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>ant<span class=\"_ _1\"></span>e 10<span class=\"_ _1\"></span>%<span class=\"_ _1\"></span> ogget<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t &amp; Ca<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span> Opti<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span>, di cu<span class=\"_ _1\"></span>i il<span class=\"_ _1\"></span> 4% es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tat<span class=\"_ _1\"></span>o ne<span class=\"_ _1\"></span>l cor<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o del 2<span class=\"_ _1\"></span>022<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Tali debiti sono<span class=\"_ _1\"></span> valorizzati <span class=\"_ _1\"></span>utilizzando i piani<span class=\"_ _1\"></span> delle societ\u00e0 t<span class=\"_ _1\"></span>arget e aggi<span class=\"_ _1\"></span>ornati progr<span class=\"_ _1\"></span>essivamente sulla b<span class=\"_ _1\"></span>ase dei<span class=\"_ _26a\"> </span>parametri <span class=\"_ _1\"></span>economico <span class=\"_ _1\"></span>finanz<span class=\"_ _1\"></span>iari che <span class=\"_ _1\"></span>regolano <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>prezzo <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>quote <span class=\"_ _1\"></span>oggetto <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i Put&amp;<span class=\"_ _1\"></span>Call <span class=\"_ _1\"></span>option. I<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o isc<span class=\"_ _1\"></span>ritto<span class=\"_ _26a\"> </span>rappresenta ad oggi<span class=\"_ _1\"></span> la miglior stima pos<span class=\"_ _1\"></span>sibile.<span class=\"_ _26a\"> </span>Il dettaglio dei <span class=\"ff4\">fin<span class=\"_ _1\"></span>anziament<span class=\"_ _1\"></span>i non correnti</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12.20<span class=\"_ _3\"></span>22<span class=\"_ _f0\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommerciali<span class=\"_ _26a\"> </span>87<span class=\"_ _3\"></span>.163<span class=\"_ _7a\"> </span>1<span class=\"_ _3\"></span>21<span class=\"_ _3\"></span>.114<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommerciali <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>erso par<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>or<span class=\"_ _2\"></span>re<span class=\"_ _3\"></span>late <span class=\"_ _1\"></span>(n<span class=\"_ _2\"></span>ot<span class=\"_ _1\"></span>a 40<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>697<span class=\"_ _1ae\"> </span>951<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>erso i<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>rson<span class=\"_ _3\"></span>ale ed<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pr<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>iden<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iali<span class=\"_ _26a\"> </span>13<span class=\"_ _3\"></span>.297<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>6.75<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>Ac<span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _26a\"> </span>2.73<span class=\"_ _3\"></span>1<span class=\"_ _77\"> </span>2.266<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>atei <span class=\"_ _1\"></span>e risc<span class=\"_ _8\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>2.22<span class=\"_ _3\"></span>8<span class=\"_ _77\"> </span>1.496<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri de<span class=\"_ _3\"></span>biti<span class=\"_ _26a\"> </span>3.22<span class=\"_ _3\"></span>8<span class=\"_ _77\"> </span>6.645<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _8\"></span>rt<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span> corre<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span>10<span class=\"_ _3\"></span>9.34<span class=\"_ _3\"></span>4<span class=\"_ _66\"> </span>1<span class=\"_ _3\"></span>49<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>22<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _12f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>nziamen<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ba<span class=\"_ _2\"></span>nc<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _9b\"> </span>66<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>83<span class=\"_ _3\"></span>8<span class=\"_ _d6\"> </span>63<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>18<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _2\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>pass<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _2\"></span>ota <span class=\"_ _1\"></span>26<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>3.12<span class=\"_ _3\"></span>8<span class=\"_ _c9\"> </span>2.81<span class=\"_ _3\"></span>6<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>acqu<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o par<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ipa<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i<span class=\"_ _119\"> </span>6.35<span class=\"_ _2\"></span>6<span class=\"_ _7a\"> </span>3.506<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>atei f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziar<span class=\"_ _3\"></span>i<span class=\"_ _1b3\"> </span><span class=\"ls5f\">224<span class=\"_ _19d\"> </span>62<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziar<span class=\"_ _3\"></span>ie<span class=\"_ _165\"> </span><span class=\"ls5f\">48<span class=\"_ _19d\"> </span>138<span class=\"_ _26a\"> </span></span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>cor<span class=\"_ _3\"></span>re<span class=\"_ _8\"></span>nt<span class=\"_ _3\"></span>e<span class=\"_ _186\"> </span>76.59<span class=\"_ _2\"></span>4<span class=\"_ _f2\"> </span>69<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>70<span class=\"_ _2\"></span>7<span class=\"_ _26a\"> </span>Nel<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>so<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io <span class=\"_ _11\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>G<span class=\"_ _1\"></span>rup<span class=\"_ _1\"></span>po <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>ott<span class=\"_ _1\"></span>enu<span class=\"_ _1\"></span>to <span class=\"_ _11\"></span>nuo<span class=\"_ _1\"></span>ve<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>fi<span class=\"_ _1\"></span>nan<span class=\"_ _1\"></span>zia<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>isti<span class=\"_ _1\"></span>tut<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>edit<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>per <span class=\"_ _1e\"> </span><span class=\"ff2\">ci<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>106<span class=\"_ _1\"></span> mi<span class=\"_ _1\"></span>lio<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>i di<span class=\"_ _1\"></span> E<span class=\"_ _1\"></span>ur<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span> La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>38 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la<span class=\"_ _1\"></span> pa<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>ui<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 19<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>az<span class=\"_ _1\"></span>ioni<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> M<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gola<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> c<span class=\"_ _1\"></span>ont<span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>tto<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> \u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l o<span class=\"_ _1\"></span>pt<span class=\"_ _1\"></span>ion<span class=\"_ _8\"></span></span>\u201d d<span class=\"_ _1\"></span>a e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>are<span class=\"_ _1\"></span> ne<span class=\"_ _1\"></span>l 2<span class=\"_ _1\"></span>026<span class=\"_ _1\"></span>;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.7<span class=\"_ _1\"></span>63 m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> Eur<span class=\"_ _1\"></span>o,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>ela<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>vi a<span class=\"_ _1\"></span>l d<span class=\"_ _1\"></span>eb<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> att<span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>aliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> pe<span class=\"_ _1\"></span>r l<span class=\"_ _1\"></span>a p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>te d<span class=\"_ _1\"></span>i pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _11\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> del<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>4,5% delle<span class=\"_ _26a\"> </span></span>azioni <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Agr<span class=\"_ _1\"></span>es <span class=\"_ _2\"></span>Sistem<span class=\"_ _1\"></span>as <span class=\"_ _2\"></span>Eletr\u00f4nicos<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>S.A <span class=\"ff5\">e <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>da cont<span class=\"_ _1\"></span>rat<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>nd <span class=\"_ _3\"></span>C<span class=\"_ _1\"></span>all<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>op<span class=\"_ _1\"></span>tio<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5 ls5d\">\u201d <span class=\"_ _2\"></span><span class=\"ff2 ls1\">da <span class=\"_ _2\"></span>eserc<span class=\"_ _1\"></span>itars<span class=\"_ _26a\"> </span></span></span></span></span><span class=\"ff5\"><span class=\"ff7\"><span class=\"ff5 ls5d\"><span class=\"ff2 ls1\">i<span class=\"_ _26a\"> </span></span></span></span></span>dal 1 gennaio 2026;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.6<span class=\"_ _1\"></span>00 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la <span class=\"_ _1\"></span>pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>quote di Poli S.r.l. e rego<span class=\"_ _1\"></span>lato da contr<span class=\"_ _1\"></span>atto di \u201c<span class=\"ff7 ls1\">P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Ca<span class=\"_ _1\"></span>ll <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5\">\u201d <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>a il<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>24 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>20<span class=\"_ _1\"></span>26<span class=\"_ _8\"></span><span class=\"ff2\">.<span class=\"_ _1\"></span> </span></span></span>Nel<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>bit<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>pe<span class=\"_ _1\"></span>r <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>olaz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span> <span class=\"_ _20\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>pti<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span><span class=\"ff2\">di<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Mar<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Agr<span class=\"_ _1\"></span>es<span class=\"_ _8\"></span></span> <span class=\"_ _8\"></span><span class=\"ff2\">so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>stat<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span></span>adeguati <span class=\"_ _20\"></span>per<span class=\"ls1\"> <span class=\"_ _20\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _20\"></span>ma<span class=\"_ _1\"></span>gg<span class=\"_ _1\"></span>ior<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>v<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>isp<span class=\"_ _1\"></span>et<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>ame<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>pa<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>1<span class=\"_ _1\"></span>.0<span class=\"_ _1\"></span>22 <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>7<span class=\"_ _1\"></span>97 <span class=\"_ _20\"></span>m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>E<span class=\"_ _1\"></span>uro<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>in <span class=\"_ _23\"></span>cons<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>uen<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span>migl<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>su<span class=\"_ _1\"></span>lta<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>eco<span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>co<span class=\"_ _8\"></span>-<span class=\"_ _1\"></span>fin<span class=\"_ _1\"></span>anz<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ris<span class=\"_ _1\"></span>pe<span class=\"_ _1\"></span>tt<span class=\"_ _1\"></span>o a<span class=\"_ _1\"></span> qu<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>li <span class=\"_ _1\"></span>pia<span class=\"_ _1\"></span>nif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l 3<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>dic<span class=\"_ _1\"></span>em<span class=\"_ _1\"></span>br<span class=\"_ _1\"></span>e d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>lo <span class=\"_ _1\"></span>sc<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>so<span class=\"_ _1\"></span> es<span class=\"_ _1\"></span>erc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>. <span class=\"_ _11\"></span> Ino<span class=\"_ _1\"></span>ltr<span class=\"_ _1\"></span>e la modif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>a dei term<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ni del<span class=\"_ _1\"></span>la Put &amp; Call di<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Ma<span class=\"_ _1\"></span>rk<span class=\"_ _11\"></span><span class=\"ff5\">uss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> ha <span class=\"_ _3\"></span>co<span class=\"_ _1\"></span>mpo<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> l\u2019adeg<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>men<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l relat<span class=\"_ _1\"></span>iv<span class=\"_ _1\"></span>o debi<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> </span>co<span class=\"_ _1\"></span>n la c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>gue<span class=\"_ _1\"></span>nt<span class=\"_ _1\"></span>e is<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>riz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne d<span class=\"_ _1\"></span>i u<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>agg<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>r on<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>e p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>i a 5<span class=\"_ _1\"></span>81<span class=\"_ _1\"></span> mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> (p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> ma<span class=\"_ _1\"></span>ggio<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> de<span class=\"_ _1\"></span>tta<span class=\"_ _1\"></span>g<span class=\"_ _1\"></span>li s<span class=\"_ _1\"></span>i ve<span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>not<span class=\"_ _1\"></span>a 7<span class=\"_ _1\"></span>).<span class=\"_ _1\"></span> I movimenti dei finanzi<span class=\"_ _1\"></span>amenti <span class=\"ff4\">n<span class=\"_ _1\"></span>on corrent<span class=\"_ _1\"></span>i</span> sono di seguito rip<span class=\"_ _1\"></span>ortati:<span class=\"_ _1\"></span> Alcuni fin<span class=\"_ _1\"></span>anziamenti <span class=\"_ _1\"></span>a med<span class=\"_ _1\"></span>io- <span class=\"_ _1\"></span>lungo term<span class=\"_ _1\"></span>ine s<span class=\"_ _1\"></span>ono sog<span class=\"_ _1\"></span>getti a <span class=\"_ _1\"></span><span class=\"ff7\">C<span class=\"_ _1\"></span>ovenants</span> <span class=\"_ _1\"></span>finanziari<span class=\"_ _1\"></span> v<span class=\"_ _1\"></span>erificati, prev<span class=\"_ _1\"></span>alentemente,<span class=\"_ _26a\"> </span>sulla <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span><span class=\"ff7\">ratios<span class=\"ff2\"> <span class=\"_ _3\"></span><span class=\"ff7\">Pfn/Ebitda<span class=\"ff2\"> <span class=\"ls4\">e <span class=\"_ _2\"></span><span class=\"ff7 ls1\">Pfn/E<span class=\"_ _1\"></span>quity<span class=\"ff2\"> <span class=\"_ _3\"></span>consolidati. Al <span class=\"_ _2\"></span>31 <span class=\"_ _3\"></span>dicembre <span class=\"_ _3\"></span>2022 <span class=\"_ _3\"></span>il <span class=\"_ _3\"></span>Gruppo ri<span class=\"_ _3\"></span>spetta<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>tutti i <span class=\"_ _2\"></span>parametri<span class=\"_ _26a\"> </span></span></span></span></span></span></span></span>di riferimento previsti d<span class=\"_ _1\"></span>a contratto.<span class=\"_ _1\"></span> I <span class=\"ff4 ls1\">finanziamenti a med<span class=\"_ _1\"></span>io e lun<span class=\"_ _1\"></span>go termine<span class=\"ff2\"> s<span class=\"_ _1\"></span>ono rimbors<span class=\"_ _1\"></span>abili secondo il seguente<span class=\"_ _1\"></span> piano di rientro:<span class=\"_ _8\"></span> </span></span>I principiali tassi di interes<span class=\"_ _1\"></span>se applicati sui f<span class=\"_ _1\"></span>inanziamenti di brev<span class=\"_ _1\"></span>e e di medio lungo<span class=\"_ _1\"></span> termine sono i se<span class=\"_ _1\"></span>guenti: <span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>sui finanziamenti b<span class=\"_ _1\"></span>ancari in Euro s<span class=\"_ _1\"></span>i appli<span class=\"ff5\">ca l\u2019<span class=\"_ _1\"></span>Euribor pi\u00f9 uno s<span class=\"_ _1\"></span>pread fisso;<span class=\"_ _1\"></span></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span><span class=\"ff5\">sui <span class=\"_ _8\"></span>finanziame<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>bancari <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>Sterline <span class=\"_ _8\"></span>br<span class=\"_ _1\"></span>itanniche <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>applica <span class=\"_ _11\"></span>il <span class=\"_ _1\"></span>\u201cb<span class=\"_ _1\"></span>ase <span class=\"_ _8\"></span>rate\u201d <span class=\"_ _11\"></span>Bank <span class=\"_ _8\"></span>of <span class=\"_ _11\"></span>England <span class=\"_ _8\"></span>pi\u00f9 <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>no <span class=\"_ _8\"></span>spread<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"><span class=\"_ _1\"></span> </span></span>fisso; -<span class=\"ff2\"> <span class=\"_ _11\"></span>sui finanziamenti b<span class=\"_ _1\"></span>ancari in Dollari US<span class=\"_ _1\"></span>A si applica il SO<span class=\"_ _1\"></span>FR pi\u00f9 uno spread fisso;<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>sui finanziamenti b<span class=\"_ _1\"></span>ancari in Rea<span class=\"_ _1\"></span>is brasiliani si appl<span class=\"_ _1\"></span>ica il CDI pi\u00f9 uno spr<span class=\"_ _1\"></span>ead fisso;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>sui finanziamenti b<span class=\"_ _1\"></span>ancari in Zloty Polac<span class=\"_ _1\"></span>chi si applica il <span class=\"_ _1\"></span>Wibor pi\u00f9 uno spread f<span class=\"_ _1\"></span>isso.<span class=\"_ _8\"></span> </span>Il valore contabile de<span class=\"_ _1\"></span>lle poste in bilancio non<span class=\"_ _1\"></span> differisce dal relativo <span class=\"_ _8\"></span><span class=\"ff7\">fair value</span>.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _be\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ba<span class=\"_ _2\"></span>nc<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>45<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>54<span class=\"_ _3\"></span>5<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>07<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>23<span class=\"_ _2\"></span>7<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _2\"></span>r ac<span class=\"_ _1\"></span>qu<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ecipa<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ioni<span class=\"_ _b4\"> </span>6.80<span class=\"_ _3\"></span>1<span class=\"_ _31\"> </span>8.753<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ame<span class=\"_ _3\"></span>nti <span class=\"_ _4d\"> </span><span class=\"ls60\"> -<span class=\"_ _f5\"> </span></span>4<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>cor<span class=\"_ _3\"></span>re<span class=\"_ _8\"></span>nt<span class=\"_ _3\"></span>e<span class=\"_ _26a\"> </span>15<span class=\"_ _2\"></span>2.346<span class=\"_ _19c\"> </span>1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>99<span class=\"_ _2\"></span>4<span class=\"_ _26a\"> </span>Dati<span class=\"_ _3\"></span> in m<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>aia<span class=\"_ _3\"></span> di Euro<span class=\"_ _26a\"> </span>31.12.2021<span class=\"_ _df\"> </span>Increm<span class=\"_ _2\"></span>enti<span class=\"_ _1be\"> </span>Decrem<span class=\"_ _2\"></span>enti<span class=\"_ _d\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _1\"></span>etto camb<span class=\"_ _3\"></span>io<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri<span class=\"_ _26a\"> </span>m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>enti<span class=\"_ _26a\"> </span>31.12.2022<span class=\"_ _26a\"> </span>Fi<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>an<span class=\"_ _2\"></span>zi<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ti ban<span class=\"_ _2\"></span>cari<span class=\"_ _d7\"> </span>107.237<span class=\"_ _8d\"> </span>106.009<span class=\"_ _16b\"> </span>(68.254)<span class=\"_ _d9\"> </span><span class=\"ls61\">553<span class=\"_ _26a\"> </span></span>-<span class=\"_ _a5\"> </span>145.545<span class=\"_ _26a\"> </span>Deb<span class=\"_ _3\"></span>iti per acqu<span class=\"_ _2\"></span>isti part<span class=\"_ _1\"></span>ecip<span class=\"_ _3\"></span>az<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>i<span class=\"_ _83\"> </span>8.753<span class=\"_ _26a\"> </span>1.995<span class=\"_ _6e\"> </span> <span class=\"_ _1\"></span>(3.<span class=\"_ _1\"></span>947)<span class=\"_ _123\"> </span><span class=\"ls62\"> -<span class=\"_ _64\"> </span></span>-<span class=\"_ _d3\"> </span>6.801<span class=\"_ _26a\"> </span>Al<span class=\"_ _3\"></span>tr<span class=\"_ _1\"></span>i fin<span class=\"_ _2\"></span>anz<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1cd\"> </span>4 -<span class=\"_ _f9\"> </span> -<span class=\"_ _82\"> </span> -<span class=\"_ _123\"> </span><span class=\"ls1\"> <span class=\"_ _1\"></span>(4)<span class=\"_ _fd\"> </span></span> -<span class=\"_ _26a\"> </span>Totale<span class=\"_ _140\"> </span>115.994<span class=\"_ _26a\"> </span>108.004<span class=\"_ _89\"> </span> <span class=\"_ _1\"></span>(72.201)<span class=\"_ _de\"> </span><span class=\"ls61\">553<span class=\"_ _e1\"> </span></span> (4)<span class=\"_ _2b\"> </span>152.346<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Eur<span class=\"_ _3\"></span>o<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span>2\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>3\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> <span class=\"_ _1\"></span> 4\u00b0<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span>5\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>Total<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _8\"></span>ntr<span class=\"_ _3\"></span>o <span class=\"_ _1\"></span>5<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> ol<span class=\"_ _1\"></span>tre<span class=\"_ _1\"></span> 5 a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>nziamenti ban<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>i<span class=\"_ _1ce\"> </span>54<span class=\"_ _3\"></span>.707<span class=\"_ _89\"> </span>32.12<span class=\"_ _3\"></span>6<span class=\"_ _cf\"> </span>2<span class=\"_ _3\"></span>7.648<span class=\"_ _10c\"> </span>12.17<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>12<span class=\"_ _3\"></span>6.65<span class=\"_ _3\"></span>1<span class=\"_ _bd\"> </span>18.894<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti per<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>acquisti<span class=\"_ _1\"></span> par<span class=\"_ _3\"></span>tec<span class=\"_ _1\"></span>ipazion<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>1.60<span class=\"_ _3\"></span>0<span class=\"_ _58\"> </span><span class=\"ls63\"> -<span class=\"_ _c4\"> </span></span>5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>1<span class=\"_ _5f\"> </span><span class=\"ls63\"> -<span class=\"_ _123\"> </span></span><span class=\"ff4\">6.801<span class=\"_ _c4\"> </span><span class=\"ls63\"> -<span class=\"_ _26a\"> </span></span></span>Alt<span class=\"_ _1\"></span>ri fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iamen<span class=\"_ _3\"></span>ti -<span class=\"_ _78\"> </span> -<span class=\"_ _64\"> </span> -<span class=\"_ _58\"> </span> -<span class=\"_ _131\"> </span><span class=\"ff4\"> -<span class=\"_ _64\"> </span> -<span class=\"_ _26a\"> </span></span>Total<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>56<span class=\"_ _3\"></span>.307<span class=\"_ _a0\"> </span>32.126<span class=\"_ _112\"> </span>32<span class=\"_ _3\"></span>.849<span class=\"_ _10c\"> </span>12.170<span class=\"_ _2b\"> </span>133<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>452<span class=\"_ _bd\"> </span>18<span class=\"_ _3\"></span>.894<span class=\"_ _26a\"> </span>31. Passivit\u00e0 derivanti da <span class=\"_ _1\"></span><span class=\"ffd\">lease<span class=\"_ _1\"></span></span> La <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _11\"></span>\u201c<span class=\"ff4\">Passivit\u00e0 <span class=\"_ _11\"></span>derivanti <span class=\"_ _11\"></span>da<span class=\"ff2\"> <span class=\"_ _11\"></span><span class=\"ffd\">lease<span class=\"ff6\">\u201d</span></span>, <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>ammon<span class=\"_ _1\"></span>ta <span class=\"_ _11\"></span>complessivamente <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>3<span class=\"_ _1\"></span>8.039 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>Euro, <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>cui<span class=\"_ _26a\"> </span></span></span>31.682 migliaia <span class=\"_ _3\"></span>di Euro <span class=\"_ _3\"></span>quale quota <span class=\"_ _3\"></span>non corrente <span class=\"_ _3\"></span>e 6.357 migliaia <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i Euro <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uale quota <span class=\"_ _3\"></span>corrente, si <span class=\"_ _3\"></span>riferisce alle<span class=\"_ _26a\"> </span>passivit\u00e0 finanziarie contabilizzate in applicazione al principio contabile I<span class=\"_ _1\"></span>FRS 16 <span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>. Tali passivit\u00e0 sono<span class=\"_ _26a\"> </span>pari <span class=\"_ _23\"></span>al <span class=\"_ _23\"></span>valore <span class=\"_ _23\"></span>attuale <span class=\"_ _23\"></span>dei <span class=\"_ _23\"></span>pagamenti <span class=\"_ _23\"></span>futuri <span class=\"_ _23\"> </span>residui <span class=\"_ _23\"> </span>previsti <span class=\"_ _23\"> </span>dai <span class=\"_ _23\"> </span>contratti. <span class=\"_ _23\"> </span>Al <span class=\"_ _23\"> </span>31 <span class=\"_ _23\"> </span>dicembre <span class=\"_ _23\"> </span>202<span class=\"_ _1\"></span>1 <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>passivit\u00e0<span class=\"_ _26a\"> </span>ammontavano <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>38.9<span class=\"_ _1\"></span>74 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro, <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ui <span class=\"_ _8\"></span>33.111 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>quale <span class=\"_ _8\"></span>q<span class=\"_ _1\"></span>uota <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>corrente <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>5.8<span class=\"_ _1\"></span>63 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di<span class=\"_ _26a\"> </span>Euro quale quota corr<span class=\"_ _1\"></span>ente.<span class=\"_ _1\"></span> Le <span class=\"_ _20\"></span><span class=\"ff4 ls1\">passivit\u00e0 <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>rivanti <span class=\"_ _20\"></span>da <span class=\"_ _23\"></span><span class=\"ffd ls5\">lease</span><span class=\"ff2\"> <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>lungo <span class=\"_ _20\"></span>te<span class=\"_ _1\"></span>rmine <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>rimborsab<span class=\"_ _1\"></span>ili <span class=\"_ _20\"></span>secondo <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>eguente <span class=\"_ _20\"></span>piano <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span></span></span>rientro:<span class=\"_ _26a\"> </span>32. Attivit\u00e0 e passivit\u00e0 fis<span class=\"_ _1\"></span>cali<span class=\"_ _1\"></span> Il dettaglio delle imposte <span class=\"_ _1\"></span><span class=\"ff4\">diff<span class=\"_ _1\"></span>erite attive</span> \u00e8 il s<span class=\"_ _1\"></span>eguente:<span class=\"_ _1\"></span> Si <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _8\"></span>che <span class=\"_ _11\"></span>la <span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>ota <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>imposte <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _8\"></span>presumib<span class=\"_ _1\"></span>ilmente <span class=\"_ _8\"></span>si <span class=\"_ _8\"></span>rivers<span class=\"_ _1\"></span>eranno <span class=\"_ _8\"></span>entro <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>12 <span class=\"_ _11\"></span>mesi <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>uccessivi <span class=\"_ _8\"></span>sia <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>linea<span class=\"_ _26a\"> </span>con il decremento reg<span class=\"_ _1\"></span>istrato nel corso d<span class=\"_ _1\"></span>el 2022.<span class=\"_ _1\"></span> La voce <span class=\"_ _1\"></span>\u201cAltre <span class=\"_ _1\"></span>imposte <span class=\"_ _1\"></span>differite <span class=\"_ _1\"></span>attive\u201d <span class=\"_ _1\"></span>include pr<span class=\"_ _1\"></span>incipalmente <span class=\"_ _1\"></span>il cre<span class=\"_ _1\"></span>dito per <span class=\"_ _1\"></span>impost<span class=\"_ _1\"></span>e su p<span class=\"_ _1\"></span>erdite <span class=\"_ _1\"></span>fiscali d<span class=\"_ _1\"></span>ell<span class=\"_ _8\"></span>\u2019anno<span class=\"_ _1\"></span> e <span class=\"_ _20\"> </span>utilizz<span class=\"_ _1\"></span>abili <span class=\"_ _23\"> </span>nell\u2019ambito <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>el <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _23\"> </span>fiscale <span class=\"_ _23\"> </span>a <span class=\"_ _20\"> </span>cui <span class=\"_ _23\"> </span>il <span class=\"_ _20\"> </span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _20\"> </span>ad<span class=\"_ _1\"></span>erisce, <span class=\"_ _23\"> </span>i <span class=\"_ _20\"> </span>be<span class=\"_ _1\"></span>nefici, <span class=\"_ _23\"> </span>maturati <span class=\"_ _23\"> </span>e <span class=\"_ _20\"> </span>non <span class=\"_ _23\"> </span>ancora<span class=\"_ _26a\"> </span>utilizzati, <span class=\"_ _2\"></span>der<span class=\"_ _1\"></span>ivanti <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>all\u2019agevolazione<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>\u201cAC<span class=\"_ _1\"></span>E\u201d <span class=\"_ _2\"></span>e gli <span class=\"_ _9\"></span>ef<span class=\"_ _1\"></span>fetti <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>iscali <span class=\"_ _3\"></span>legati <span class=\"_ _3\"></span>ad <span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>cantonamenti a <span class=\"_ _2\"></span>riconoscimento <span class=\"_ _3\"></span>fiscale<span class=\"_ _26a\"> </span>differito.    Il dettaglio delle im<span class=\"_ _1\"></span>poste <span class=\"ff4\">diff<span class=\"_ _1\"></span>erite passive </span>\u00e8 <span class=\"_ _1\"></span>il seguente:<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>altre <span class=\"_ _2\"></span>imposte <span class=\"_ _3\"></span>differite <span class=\"_ _2\"></span>pass<span class=\"_ _1\"></span>ive <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>riferiscono <span class=\"_ _2\"></span>princi<span class=\"_ _1\"></span>palmente <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>prove<span class=\"_ _1\"></span>nti <span class=\"_ _2\"></span>gi\u00e0 <span class=\"_ _2\"></span>contabilizz<span class=\"_ _1\"></span>ati, <span class=\"_ _2\"></span>ma <span class=\"_ _2\"></span>che <span class=\"_ _2\"></span>acquisira<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>rilevanza fiscale nei pros<span class=\"_ _1\"></span>simi eserciz<span class=\"_ _1\"></span>i.<span class=\"_ _1\"></span> L\u2019incremento da <span class=\"_ _2\"></span>variazio<span class=\"_ _1\"></span>ne <span class=\"_ _3\"></span>d\u2019area <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>riferisce alle <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>mposte <span class=\"_ _3\"></span>differite passive <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span>mergenti <span class=\"_ _3\"></span>dal consolidamento <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>dal<span class=\"_ _26a\"> </span>processo <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span><span class=\"ff7\">Purchase <span class=\"_ _3\"></span>Price <span class=\"_ _3\"></span>Allocation<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _2\"></span><span class=\"ff5\">nell\u2019a<span class=\"_ _1\"></span>mbito <span class=\"_ _3\"></span>dell\u2019operazione di<span class=\"_ _3\"></span> <span class=\"ff7\">business <span class=\"_ _2\"></span>combinat<span class=\"_ _1\"></span>ion<span class=\"ff2\"> <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _3\"></span>Trebol<span class=\"_ _26a\"> </span></span></span></span></span></span>Maquinaria y Su<span class=\"_ _1\"></span>ministros S.A. come d<span class=\"_ _1\"></span>escritto al paragr<span class=\"_ _1\"></span>afo 7<span class=\"_ _1\"></span> <span class=\"ff5\">\u201cEventi ed operazi<span class=\"_ _1\"></span>oni significative n<span class=\"_ _1\"></span>on ricorrenti\u201d<span class=\"_ _26a\"> </span></span>delle <span class=\"_ _8\"></span>presenti <span class=\"_ _8\"></span>note. <span class=\"_ _8\"></span>Le <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>mposte <span class=\"_ _8\"></span>differite <span class=\"_ _8\"></span>passive <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>state <span class=\"_ _8\"></span>stanziate <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>3<span class=\"_ _1\"></span>27 <span class=\"_ _8\"></span>migliai <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>fronte <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _11\"></span><span class=\"ff7\">fair<span class=\"_ _1\"></span> </span>value <span class=\"ff2\">attribuito al<span class=\"_ _1\"></span>la lista clienti e al mar<span class=\"_ _1\"></span>chio</span>.<span class=\"ff2\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gibi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> 2\u00b0<span class=\"_ _3\"></span> a<span class=\"_ _8\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gibi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> 3\u00b0<span class=\"_ _3\"></span> a<span class=\"_ _8\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gibi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> <span class=\"_ _1\"></span> 4\u00b0<span class=\"_ _3\"></span> a<span class=\"_ _8\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gibi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> 5\u00b0<span class=\"_ _3\"></span> a<span class=\"_ _8\"></span>nno<span class=\"_ _26a\"> </span>Total<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _1\"></span>ntro 5<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gibi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> ol<span class=\"_ _1\"></span>tre<span class=\"_ _1\"></span> 5 a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>Pass<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>anti <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> Lea<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _1cf\"> </span>5.76<span class=\"_ _3\"></span>7<span class=\"_ _56\"> </span>5.24<span class=\"_ _3\"></span>2<span class=\"_ _11e\"> </span>5.154<span class=\"_ _1b9\"> </span>4.571<span class=\"_ _cf\"> </span><span class=\"ff4\">20<span class=\"_ _3\"></span>.734<span class=\"_ _93\"> </span>1<span class=\"_ _2\"></span>0.<span class=\"_ _1\"></span>94<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span></span>Total<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>5.76<span class=\"_ _3\"></span>7<span class=\"_ _56\"> </span>5.24<span class=\"_ _3\"></span>2<span class=\"_ _11e\"> </span>5.154<span class=\"_ _1b9\"> </span>4.571<span class=\"_ _cf\"> </span>20<span class=\"_ _3\"></span>.734<span class=\"_ _93\"> </span>1<span class=\"_ _2\"></span>0.<span class=\"_ _1\"></span>94<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Da<span class=\"_ _3\"></span>ti i<span class=\"_ _3\"></span>n m<span class=\"_ _2\"></span>igl<span class=\"_ _2\"></span>ia<span class=\"_ _3\"></span>ia<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _3\"></span> Euro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _10d\"> </span>I<span class=\"_ _3\"></span>nc<span class=\"_ _3\"></span>rem<span class=\"_ _2\"></span>.<span class=\"_ _10d\"> </span>De<span class=\"_ _3\"></span>crem<span class=\"_ _2\"></span>.<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri<span class=\"_ _26a\"> </span>m<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>me<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>Ef<span class=\"_ _2\"></span>fetto ca<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>bi<span class=\"_ _3\"></span>o<span class=\"_ _97\"> </span>31<span class=\"_ _3\"></span>.12.2<span class=\"_ _3\"></span>02<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su s<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>al<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>zion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>di at<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>it\u00e0<span class=\"_ _26a\"> </span>215<span class=\"_ _e3\"> </span><span class=\"ls65\"> -<span class=\"_ _19c\"> </span><span class=\"ls1\"> (48)<span class=\"_ _de\"> </span></span> -<span class=\"_ _db\"> </span><span class=\"ls1\">2<span class=\"_ _1b6\"> </span></span></span>169<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su s<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>orno<span class=\"_ _3\"></span> ut<span class=\"_ _3\"></span>ili infrag<span class=\"_ _3\"></span>rupp<span class=\"_ _3\"></span>o n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span> r<span class=\"_ _1\"></span>ea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>izz<span class=\"_ _3\"></span>at<span class=\"_ _3\"></span>i2.8<span class=\"_ _3\"></span>34<span class=\"_ _128\"> </span><span class=\"ls64\">703<span class=\"_ _1b6\"> </span><span class=\"ls65\"> -<span class=\"_ _d0\"> </span> -<span class=\"_ _84\"> </span> -<span class=\"_ _5f\"> </span></span></span>3.53<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su s<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>al<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>zion<span class=\"_ _3\"></span>e m<span class=\"_ _2\"></span>aga<span class=\"_ _3\"></span>zz<span class=\"_ _3\"></span>ino<span class=\"_ _3\"></span> 2.1<span class=\"_ _3\"></span>96<span class=\"_ _128\"> </span><span class=\"ls64\">356<span class=\"_ _a5\"> </span></span> <span class=\"_ _1\"></span>(182<span class=\"_ _3\"></span>)<span class=\"_ _ef\"> </span><span class=\"ls65\"> -<span class=\"_ _19c\"> </span></span> <span class=\"_ _1\"></span>(2)<span class=\"_ _c7\"> </span>2.36<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su p<span class=\"_ _3\"></span>erdit<span class=\"_ _2\"></span>e fi<span class=\"_ _1\"></span>scal<span class=\"_ _2\"></span>i <span class=\"_ _1\"></span>preg<span class=\"_ _3\"></span>res<span class=\"_ _3\"></span>se<span class=\"_ _26a\"> </span>12<span class=\"_ _123\"> </span>182<span class=\"_ _a5\"> </span><span class=\"ls1\"> (<span class=\"_ _1\"></span>11<span class=\"_ _3\"></span>0)<span class=\"_ _ef\"> </span><span class=\"ls65\"> -<span class=\"_ _84\"> </span> -<span class=\"_ _123\"> </span><span class=\"ls64\">84<span class=\"_ _26a\"> </span></span></span></span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su s<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>al<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>zion<span class=\"_ _3\"></span>e cr<span class=\"_ _1\"></span>ed<span class=\"_ _3\"></span>iti<span class=\"_ _26a\"> </span>572<span class=\"_ _123\"> </span>67<span class=\"_ _d4\"> </span><span class=\"ls1\"> <span class=\"_ _1\"></span>(135<span class=\"_ _2\"></span>)<span class=\"_ _cc\"> </span><span class=\"ls65\"> -<span class=\"_ _19c\"> </span></span> (<span class=\"_ _1\"></span>1)<span class=\"_ _128\"> </span><span class=\"ls64\">503<span class=\"_ _26a\"> </span></span></span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e an<span class=\"_ _3\"></span>ticipa<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span> su<span class=\"_ _3\"></span> diritt<span class=\"_ _3\"></span>o d'<span class=\"_ _3\"></span>us<span class=\"_ _3\"></span>o IFR<span class=\"_ _2\"></span>S 16<span class=\"_ _26a\"> </span>231<span class=\"_ _123\"> </span>55<span class=\"_ _128\"> </span><span class=\"ls1\"> (11)<span class=\"_ _de\"> </span><span class=\"ls65\"> -<span class=\"_ _db\"> </span></span>2<span class=\"_ _1b6\"> </span></span>277<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su d<span class=\"_ _3\"></span>iff<span class=\"_ _1\"></span>eren<span class=\"_ _2\"></span>ze cam<span class=\"_ _2\"></span>bio n<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span> r<span class=\"_ _1\"></span>ea<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>izza<span class=\"_ _2\"></span>te<span class=\"_ _26a\"> </span>276<span class=\"_ _fd\"> </span>176<span class=\"_ _1bb\"> </span><span class=\"ls1\"> (<span class=\"_ _1\"></span>60<span class=\"_ _3\"></span>)<span class=\"_ _d9\"> </span><span class=\"ls65\"> -<span class=\"_ _1b6\"> </span><span class=\"ls64\">26<span class=\"_ _19c\"> </span>418<span class=\"_ _26a\"> </span></span></span></span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>tiv<span class=\"_ _9\"></span>e su rial<span class=\"_ _2\"></span>line<span class=\"_ _3\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>i e r<span class=\"_ _1\"></span>iv<span class=\"_ _2\"></span>al<span class=\"_ _3\"></span>ut<span class=\"_ _2\"></span>azio<span class=\"_ _3\"></span>ni fiscal<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>1.1<span class=\"_ _3\"></span>97<span class=\"_ _1b6\"> </span><span class=\"ls65\"> -<span class=\"_ _19c\"> </span></span> (39)<span class=\"_ _a0\"> </span> (<span class=\"_ _1\"></span>14<span class=\"_ _3\"></span>)<span class=\"_ _d9\"> </span><span class=\"ls65\"> -<span class=\"_ _5f\"> </span></span>1.14<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>Al<span class=\"_ _2\"></span>tre im<span class=\"_ _2\"></span>pos<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>e differite<span class=\"_ _3\"></span> at<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>iv<span class=\"_ _2\"></span>e<span class=\"_ _26a\"> </span>2.4<span class=\"_ _3\"></span>79<span class=\"_ _128\"> </span><span class=\"ls64\">320<span class=\"_ _a5\"> </span></span> <span class=\"_ _1\"></span>(747<span class=\"_ _3\"></span>)<span class=\"_ _112\"> </span> (<span class=\"_ _1\"></span>15<span class=\"_ _3\"></span>4)<span class=\"_ _a0\"> </span> (<span class=\"_ _1\"></span>3)<span class=\"_ _c7\"> </span>1.8<span class=\"_ _3\"></span>95<span class=\"_ _26a\"> </span>To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e (nota<span class=\"_ _3\"></span> 16)<span class=\"_ _26a\"> </span>10<span class=\"_ _3\"></span>.01<span class=\"_ _3\"></span>2<span class=\"_ _f0\"> </span>1.85<span class=\"_ _3\"></span>9<span class=\"_ _8d\"> </span> <span class=\"_ _1\"></span>(1.33<span class=\"_ _3\"></span>2)<span class=\"_ _12f\"> </span> (<span class=\"_ _1\"></span>16<span class=\"_ _3\"></span>8)<span class=\"_ _16b\"> </span><span class=\"ls64\">24<span class=\"_ _c7\"> </span></span>10<span class=\"_ _3\"></span>.395<span class=\"_ _26a\"> </span>Da<span class=\"_ _3\"></span>ti i<span class=\"_ _3\"></span>n m<span class=\"_ _2\"></span>igl<span class=\"_ _2\"></span>ia<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span> di<span class=\"_ _3\"></span> Euro<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _97\"> </span>Va<span class=\"_ _3\"></span>ria<span class=\"_ _3\"></span>zio<span class=\"_ _3\"></span>ne a<span class=\"_ _3\"></span>rea<span class=\"_ _61\"> </span>In<span class=\"_ _3\"></span>crem<span class=\"_ _2\"></span>.<span class=\"_ _143\"> </span>De<span class=\"_ _3\"></span>crem<span class=\"_ _2\"></span>.<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri<span class=\"_ _26a\"> </span>m<span class=\"_ _2\"></span>ovi<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>enti<span class=\"_ _26a\"> </span>Ef<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>etto ca<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>bio<span class=\"_ _ff\"> </span>31<span class=\"_ _3\"></span>.12.2<span class=\"_ _3\"></span>02<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> pas<span class=\"_ _2\"></span>siv<span class=\"_ _2\"></span>e su<span class=\"_ _3\"></span> imm<span class=\"_ _2\"></span>ob<span class=\"_ _3\"></span>ili ex<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>IAS 1<span class=\"_ _3\"></span>7<span class=\"_ _cd\"> </span><span class=\"ls66\">98</span> -<span class=\"_ _19c\"> </span> -<span class=\"_ _d9\"> </span><span class=\"ls1\">(<span class=\"_ _1\"></span>5)<span class=\"_ _cc\"> </span></span> -<span class=\"_ _128\"> </span> -<span class=\"_ _5f\"> </span><span class=\"ls66\">93<span class=\"_ _26a\"> </span></span>Im<span class=\"_ _3\"></span>po<span class=\"_ _3\"></span>st<span class=\"_ _2\"></span>e differite<span class=\"_ _3\"></span> pas<span class=\"_ _2\"></span>siv<span class=\"_ _2\"></span>e su<span class=\"_ _3\"></span> am<span class=\"_ _2\"></span>mo<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ta<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>i<span class=\"_ _1ad\"> </span>5.08<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>327<span class=\"_ _c3\"> </span>311<span class=\"_ _1b9\"> </span><span class=\"ls1\">(316<span class=\"_ _3\"></span>)<span class=\"_ _1d0\"> </span><span class=\"ls67\"> -<span class=\"_ _c7\"> </span><span class=\"ls66\">125<span class=\"_ _c1\"> </span></span></span>5.527<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _2\"></span>tre im<span class=\"_ _2\"></span>pos<span class=\"_ _3\"></span>te<span class=\"_ _3\"></span> differite<span class=\"_ _3\"></span> pa<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>iv<span class=\"_ _2\"></span>e<span class=\"_ _8b\"> </span>2.20<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>34<span class=\"_ _ef\"> </span>475<span class=\"_ _1b9\"> </span><span class=\"ls1\">(438<span class=\"_ _3\"></span>)<span class=\"_ _2b\"> </span> (5)<span class=\"_ _c3\"> </span><span class=\"ls66\">68<span class=\"_ _a0\"> </span></span>2.34<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span></span>To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e (no<span class=\"_ _3\"></span>ta 16<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>7.3<span class=\"_ _3\"></span>86<span class=\"_ _f0\"> </span><span class=\"ls66\">361<span class=\"_ _c3\"> </span>786<span class=\"_ _c1\"> </span></span> <span class=\"_ _1\"></span>(759<span class=\"_ _2\"></span>)<span class=\"_ _cf\"> </span> (5)<span class=\"_ _93\"> </span><span class=\"ls66\">193<span class=\"_ _1b9\"> </span></span>7.9<span class=\"_ _3\"></span>62<span class=\"_ _26a\"> </span>Si stima che <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i imposte ch<span class=\"_ _1\"></span>e presum<span class=\"_ _1\"></span>ibilmente si rivers<span class=\"_ _1\"></span>er\u00e0 entro<span class=\"_ _1\"></span> i 12 m<span class=\"_ _1\"></span>esi success<span class=\"_ _1\"></span>ivi sia in linea c<span class=\"_ _1\"></span>on il<span class=\"_ _26a\"> </span> decremento registrato n<span class=\"_ _1\"></span>el corso del 20<span class=\"_ _1\"></span>22.<span class=\"_ _1\"></span> Al 31 <span class=\"_ _1\"></span>dicembre <span class=\"_ _1\"></span>2022, n<span class=\"_ _1\"></span>on sono <span class=\"_ _1\"></span>state ri<span class=\"_ _1\"></span>levate <span class=\"_ _1\"></span>imposte differite <span class=\"_ _1\"></span>passive <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>imposte <span class=\"_ _1\"></span>su utili <span class=\"_ _1\"></span>n<span class=\"_ _8\"></span>on <span class=\"_ _1\"></span>distribuiti d<span class=\"_ _1\"></span>elle<span class=\"_ _26a\"> </span> Societ\u00e0 <span class=\"_ _2\"></span>contro<span class=\"_ _1\"></span>llate, <span class=\"_ _2\"></span>in <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uanto <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>Gruppo <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>ritiene<span class=\"_ _1\"></span>, <span class=\"_ _2\"></span>al <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>omento, <span class=\"_ _2\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>tali <span class=\"_ _2\"></span>ut<span class=\"_ _1\"></span>ili <span class=\"_ _2\"></span>sarann<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>distribuiti <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>un <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>edibile<span class=\"_ _26a\"> </span> futuro.<span class=\"_ _26a\"> </span> Si <span class=\"_ _2\"></span>precisa <span class=\"_ _3\"></span>inoltre <span class=\"_ _3\"></span>che <span class=\"_ _3\"></span>non <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _2\"></span>stat<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>stanz<span class=\"_ _1\"></span>iate <span class=\"_ _2\"></span>le imposte <span class=\"_ _2\"></span>differite <span class=\"_ _3\"></span>passive <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>fro<span class=\"_ _1\"></span>nte <span class=\"_ _3\"></span>delle <span class=\"_ _2\"></span>riserve di <span class=\"_ _9\"></span>r<span class=\"_ _1\"></span>iva<span class=\"_ _8\"></span>lutazione,<span class=\"_ _26a\"> </span> che <span class=\"_ _3\"></span>costituiscono riserve <span class=\"_ _3\"></span>in parziale <span class=\"_ _2\"></span>sosp<span class=\"_ _1\"></span>ensione d\u2019imposta, <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>quanto \u00e8 <span class=\"_ _2\"></span>prob<span class=\"_ _1\"></span>abile che <span class=\"_ _2\"></span>non verranno <span class=\"_ _3\"></span>effettuate<span class=\"_ _26a\"> </span> operazioni che ne pos<span class=\"_ _1\"></span>sano determinare l<span class=\"_ _1\"></span>a tassazione. <span class=\"_ _8\"></span> I <span class=\"ff4 ls1\">crediti t<span class=\"_ _1\"></span>ributari<span class=\"ff2\"> amm<span class=\"_ _1\"></span>ontano al 3<span class=\"_ _1\"></span>1 dicembre 20<span class=\"_ _1\"></span>22 a 9<span class=\"_ _1\"></span>.967 migliaia d<span class=\"_ _1\"></span>i Euro, c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tro <span class=\"_ _1\"></span>10.076 migliaia <span class=\"_ _1\"></span>di Euro a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span></span><span class=\"ff4 ls1\"><span class=\"ff2\"> </span></span>31 <span class=\"_ _1\"></span>dicembre <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>1, <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>cr<span class=\"_ _1\"></span>editi <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>Iv<span class=\"_ _1\"></span>a, <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>ac<span class=\"_ _1\"></span>conti <span class=\"_ _1\"></span>d\u2019imposte <span class=\"_ _8\"></span>dirette <span class=\"_ _1\"></span>ecc<span class=\"_ _1\"></span>edenti <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>debito <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>ad <span class=\"_ _1\"></span>altri<span class=\"_ _26a\"> </span> crediti tributari. <span class=\"_ _1\"></span> I <span class=\"_ _20\"></span><span class=\"ff4 ls1\">debiti <span class=\"_ _11\"></span>tribu<span class=\"_ _1\"></span>tari<span class=\"ff2\"> <span class=\"_ _20\"></span>ammonta<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>icembre <span class=\"_ _20\"></span>2022 <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>4.984 <span class=\"_ _20\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>Euro, <span class=\"_ _20\"></span>contro <span class=\"_ _20\"></span>6.182 <span class=\"_ _20\"></span>m<span class=\"_ _8\"></span>igliaia <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>Euro<span class=\"_ _26a\"> </span></span></span><span class=\"ff4 ls1\"><span class=\"ff2\"> </span></span>dell\u2019esercizio precedente, <span class=\"_ _3\"></span>e comprendono <span class=\"_ _3\"></span>debiti per i<span class=\"_ _3\"></span>mposte dirette <span class=\"_ _3\"></span>di competenza, <span class=\"_ _3\"></span>debiti pe<span class=\"_ _3\"></span>r Iva <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>ritenute da<span class=\"_ _26a\"> </span> versare.  Le principali s<span class=\"_ _1\"></span>ociet\u00e0 italia<span class=\"_ _1\"></span>ne del Gr<span class=\"_ _1\"></span>uppo partecipa<span class=\"_ _1\"></span>no con <span class=\"_ _1\"></span>la controllante <span class=\"_ _1\"></span>Yama S.p.<span class=\"_ _1\"></span>A. al conso<span class=\"_ _1\"></span>lidato fiscale <span class=\"_ _1\"></span>ex<span class=\"_ _26a\"> </span> artt. <span class=\"_ _21\"> </span>117 <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>seg<span class=\"_ _1\"></span>uenti <span class=\"_ _21\"> </span>del <span class=\"_ _1e\"> </span>D.P.R. <span class=\"_ _1e\"> </span>n. <span class=\"_ _21\"> </span>917<span class=\"_ _1\"></span>/1986: <span class=\"_ _21\"> </span>le<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>posizioni <span class=\"_ _1e\"> </span>per <span class=\"_ _21\"> </span>imposte<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>corr<span class=\"_ _1\"></span>enti <span class=\"_ _21\"> </span>IRE<span class=\"_ _1\"></span>S <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>ta<span class=\"_ _1\"></span>li <span class=\"_ _21\"> </span>societ\u00e0 <span class=\"_ _1e\"> </span>sono<span class=\"_ _26a\"> </span> contabilizzati alla voce <span class=\"_ _1\"></span>Altri debiti (Nota 29) e <span class=\"_ _1\"></span>Altri crediti (Not<span class=\"_ _1\"></span>a 24).<span class=\"_ _1\"></span> 33. Benefici a lungo term<span class=\"_ _1\"></span>ine a favore de<span class=\"_ _1\"></span>i dipendent<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span> Al 31<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dicembre <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>ben<span class=\"_ _1\"></span>efici <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>lungo <span class=\"_ _1\"></span>termi<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>favore <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span>pendenti <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>rifer<span class=\"_ _1\"></span>iscono <span class=\"_ _1\"></span>principalm<span class=\"_ _1\"></span>ente <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>debito<span class=\"_ _1\"></span> attualizzato <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>tratt<span class=\"_ _1\"></span>amento <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>fine <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>apporto <span class=\"_ _11\"></span>da <span class=\"_ _8\"></span>corrisponder<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>termine <span class=\"_ _11\"></span>della <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>avorativa <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _8\"></span>di<span class=\"_ _1\"></span>pendente<span class=\"_ _1\"></span> per <span class=\"_ _3\"></span>un importo di <span class=\"_ _3\"></span>5.829 migliaia di Euro, <span class=\"_ _3\"></span>contro 7.000 migliaia di Euro <span class=\"_ _3\"></span>al 31 <span class=\"_ _3\"></span>dicembre 2021. La <span class=\"_ _3\"></span>valutazione del<span class=\"_ _26a\"> </span> TFR <span class=\"_ _1\"></span>effettu<span class=\"_ _1\"></span>ata <span class=\"_ _1\"></span>secon<span class=\"_ _1\"></span>do <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>metodo <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>bito <span class=\"_ _1\"></span>nomin<span class=\"_ _1\"></span>ale <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>essere <span class=\"_ _8\"></span>alla <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>chi<span class=\"_ _1\"></span>usura <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>isulterebbe <span class=\"_ _8\"></span>pari <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>un<span class=\"_ _26a\"> </span> ammontare di 6.096 <span class=\"_ _1\"></span>migliaia di Eur<span class=\"_ _1\"></span>o contro 6.209 mig<span class=\"_ _1\"></span>liaia di Euro al<span class=\"_ _1\"></span> 31 dicembre 2021. <span class=\"_ _8\"></span> Movimento della p<span class=\"_ _1\"></span>assivit\u00e0 isc<span class=\"_ _1\"></span>ritta nello stato patrimoni<span class=\"_ _1\"></span>ale:<span class=\"_ _1\"></span> Le <span class=\"_ _1\"></span>principali <span class=\"_ _1\"></span>ipot<span class=\"_ _1\"></span>esi <span class=\"_ _1\"></span>economico <span class=\"_ _1\"></span>finanziarie<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>utilizzate <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er i<span class=\"_ _1\"></span>l ca<span class=\"_ _1\"></span>lcolo <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>TFR<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>secondo <span class=\"_ _1\"></span>quanto<span class=\"_ _1\"></span> prev<span class=\"_ _1\"></span>isto <span class=\"_ _1\"></span>dallo <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>AS<span class=\"_ _26a\"> </span> 19 sono le seguenti: <span class=\"_ _1\"></span> Le ipotesi demograf<span class=\"_ _1\"></span>iche fanno riferi<span class=\"_ _1\"></span>mento alle pi\u00f9 rec<span class=\"_ _1\"></span>enti statistiche pub<span class=\"_ _1\"></span>blicate dall\u2019Istat<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Nell\u2019esercizio 2023 le<span class=\"_ _1\"></span> erogazioni si st<span class=\"_ _1\"></span>imano in linea con l<span class=\"_ _1\"></span>\u2019esercizio 2022.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>34. Fondi per rischi e on<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span> Dettaglio moviment<span class=\"_ _1\"></span>i degli acc<span class=\"_ _1\"></span>antonamenti:<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ati in<span class=\"_ _3\"></span> mi<span class=\"_ _2\"></span>gl<span class=\"_ _3\"></span>ia<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>a di Eu<span class=\"_ _3\"></span>ro<span class=\"_ _1d1\"> </span>Es<span class=\"_ _3\"></span>erci<span class=\"_ _3\"></span>zi<span class=\"_ _3\"></span>o 2022<span class=\"_ _142\"> </span>E<span class=\"_ _3\"></span>serci<span class=\"_ _2\"></span>zio 202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Sa<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>o in<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>zi<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>e del<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>'obbl<span class=\"_ _2\"></span>ig<span class=\"_ _3\"></span>azi<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>e<span class=\"_ _26a\"> </span>7.500<span class=\"_ _19d\"> </span>7.608<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>osto <span class=\"_ _1\"></span>corren<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>e del serv<span class=\"_ _2\"></span>iz<span class=\"_ _2\"></span>io<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e altri accan<span class=\"_ _2\"></span>ton<span class=\"_ _2\"></span>am<span class=\"_ _3\"></span>en<span class=\"_ _2\"></span>ti<span class=\"_ _26a\"> </span>126<span class=\"_ _1bd\"> </span>172<span class=\"_ _26a\"> </span>(U<span class=\"_ _2\"></span>tili<span class=\"_ _2\"></span>)<span class=\"_ _1\"></span>/<span class=\"_ _1\"></span>perdi<span class=\"_ _3\"></span>te <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>arial<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span> (741)<span class=\"_ _173\"> </span><span class=\"ls68\">233<span class=\"_ _26a\"> </span></span><span class=\"ls68\"> </span>On<span class=\"_ _2\"></span>er<span class=\"_ _1\"></span>i fin<span class=\"_ _2\"></span>an<span class=\"_ _2\"></span>z<span class=\"_ _2\"></span>iari<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>su<span class=\"_ _2\"></span>ll<span class=\"_ _2\"></span>e <span class=\"_ _1\"></span>obbl<span class=\"_ _2\"></span>igaz<span class=\"_ _2\"></span>i<span class=\"_ _3\"></span>on<span class=\"_ _2\"></span>i assu<span class=\"_ _2\"></span>n<span class=\"_ _2\"></span>te <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 15)<span class=\"_ _26a\"> </span>28<span class=\"_ _119\"> </span><span class=\"ls1\">-<span class=\"_ _26a\"> </span></span>Va<span class=\"_ _3\"></span>riaz<span class=\"_ _2\"></span>io<span class=\"_ _3\"></span>n<span class=\"_ _2\"></span>e ar<span class=\"_ _1\"></span>ea di<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>con<span class=\"_ _2\"></span>sol<span class=\"_ _3\"></span>id<span class=\"_ _3\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>-<span class=\"_ _c6\"> </span><span class=\"ls68\">121<span class=\"_ _26a\"> </span></span><span class=\"ls68\"> </span>Eroga<span class=\"_ _3\"></span>z<span class=\"_ _2\"></span>ion<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>(622)<span class=\"_ _dd\"> </span>(<span class=\"_ _1\"></span>634)<span class=\"_ _26a\"> </span>Sa<span class=\"_ _3\"></span>ld<span class=\"_ _3\"></span>o fina<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>e del<span class=\"_ _3\"></span>l' obb<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>azi<span class=\"_ _2\"></span>one<span class=\"_ _26a\"> </span>6.291<span class=\"_ _19d\"> </span>7.500<span class=\"_ _26a\"> </span>Es<span class=\"_ _3\"></span>erci<span class=\"_ _3\"></span>zi<span class=\"_ _3\"></span>o 202<span class=\"_ _3\"></span>2<span class=\"_ _142\"> </span>Es<span class=\"_ _3\"></span>erci<span class=\"_ _3\"></span>zi<span class=\"_ _3\"></span>o 2021<span class=\"_ _26a\"> </span>Tas<span class=\"_ _3\"></span>so an<span class=\"_ _2\"></span>n<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>o <span class=\"_ _1\"></span>in<span class=\"_ _9\"></span>f<span class=\"_ _1\"></span>la<span class=\"_ _3\"></span>z<span class=\"_ _2\"></span>ion<span class=\"_ _9\"></span>e<span class=\"_ _1d2\"> </span>2,30%<span class=\"_ _ed\"> </span>1,75%<span class=\"_ _26a\"> </span>Tas<span class=\"_ _3\"></span>so di att<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>al<span class=\"_ _3\"></span>iz<span class=\"_ _2\"></span>z<span class=\"_ _2\"></span>az<span class=\"_ _2\"></span>ion<span class=\"_ _9\"></span>e  <span class=\"_ _1d3\"> </span>3,63%<span class=\"_ _ed\"> </span>0,44%<span class=\"_ _26a\"> </span>Frequ<span class=\"_ _9\"></span>en<span class=\"_ _2\"></span>z<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>di<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>li<span class=\"_ _2\"></span>cen<span class=\"_ _2\"></span>z<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _4d\"> </span>3,00%<span class=\"_ _ed\"> </span>3,00%<span class=\"_ _26a\"> </span>Il <span class=\"_ _20\"></span>fondo <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>inde<span class=\"_ _1\"></span>nnit\u00e0 <span class=\"_ _20\"></span>suppletiva <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>clientela <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _20\"></span>ca<span class=\"_ _1\"></span>lcolato <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>rif<span class=\"_ _1\"></span>erimento <span class=\"_ _20\"></span>ai <span class=\"_ _20\"></span>rapp<span class=\"_ _1\"></span>orti <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>agenzi<span class=\"_ _1\"></span>a <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>essere <span class=\"_ _20\"></span>al<span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span>chiusura del periodo; si <span class=\"_ _3\"></span>rifer<span class=\"_ _1\"></span>isce alla probabile i<span class=\"_ _3\"></span>ndennit<span class=\"_ _1\"></span>\u00e0 che <span class=\"_ _3\"></span>dovr\u00e0 essere corrisposta agli agenti in <span class=\"_ _3\"></span>occasione<span class=\"_ _1\"></span> della <span class=\"_ _9\"></span>r<span class=\"_ _1\"></span>isoluzione <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _9\"></span>risp<span class=\"_ _1\"></span>ettivo <span class=\"_ _2\"></span>rapporto. <span class=\"_ _2\"></span>Lo <span class=\"_ _2\"></span>stanziame<span class=\"_ _1\"></span>nto <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>periodo, <span class=\"_ _2\"></span>pari <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>245 <span class=\"_ _2\"></span>mig<span class=\"_ _1\"></span>liaia <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Euro, <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>stato <span class=\"_ _2\"></span>rilevato<span class=\"_ _26a\"> </span>tra gli accantonamenti <span class=\"_ _1\"></span>alla voce \u201cAltr<span class=\"_ _1\"></span>i costi operat<span class=\"_ _1\"></span>ivi\u201d del Conto Econom<span class=\"_ _1\"></span>ico.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli altri<span class=\"_ _1\"></span> fon<span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>correnti, <span class=\"_ _1\"></span>pari <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>170 <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>incipalment<span class=\"_ _1\"></span>e ad <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>a v<span class=\"_ _1\"></span>ertenza <span class=\"_ _1\"></span>legata <span class=\"_ _1\"></span>ad<span class=\"_ _26a\"> </span>un\u2019ipotesi di<span class=\"_ _1\"></span> violazione<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>diritti <span class=\"_ _1\"></span>di privativa <span class=\"_ _1\"></span>industria<span class=\"_ _1\"></span>le. <span class=\"_ _1\"></span>Tali fondi <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>stati incr<span class=\"_ _1\"></span>ementati <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span><span class=\"ff2\">c<span class=\"_ _1\"></span>irca <span class=\"_ _1\"></span>136 miglia<span class=\"_ _1\"></span>ia<span class=\"_ _26a\"> </span></span>di Euro al fine di tenere c<span class=\"_ _1\"></span>onto delle pro<span class=\"_ _1\"></span>babili evoluzion<span class=\"_ _1\"></span>e future dei contenz<span class=\"_ _1\"></span>iosi. <span class=\"_ _1\"></span> Il <span class=\"_ _11\"></span>fondo <span class=\"_ _11\"></span>garanzia <span class=\"_ _11\"></span>prodotti <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>riferisce <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>future <span class=\"_ _11\"></span>spese<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>riparazioni <span class=\"_ _11\"></span>che <span class=\"_ _11\"></span>sarann<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>sostenute <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>vendite<span class=\"_ _26a\"> </span>coperte <span class=\"_ _3\"></span>dal <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>eriodo <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>gar<span class=\"_ _1\"></span>anzia <span class=\"_ _3\"></span>legale <span class=\"_ _3\"></span>e/<span class=\"_ _1\"></span><span class=\"ff5\">o <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>trattuale; <span class=\"_ _3\"></span>l\u2019accantoname<span class=\"_ _1\"></span>nto <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>bas<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>su<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>stime <span class=\"_ _2\"></span>estr<span class=\"_ _1\"></span>apolate <span class=\"_ _3\"></span>da <span class=\"_ _3\"></span>trend<span class=\"_ _26a\"> </span></span>storici.<span class=\"_ _26a\"> </span>La <span class=\"_ _1\"></span>voce <span class=\"_ _1\"></span>\u201cA<span class=\"_ _1\"></span>ltri <span class=\"_ _1\"></span>fondi\u201d, <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>quota <span class=\"_ _8\"></span>corrente, <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferisce <span class=\"_ _1\"></span>alla <span class=\"_ _8\"></span>miglior <span class=\"_ _1\"></span>stima <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>passivit<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>ritenute <span class=\"_ _8\"></span>allo <span class=\"_ _1\"></span>stato <span class=\"_ _1\"></span>attua<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>probabili e si riferiscono<span class=\"_ _1\"></span> a:<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>s<span class=\"_ _1\"></span>tanziamento n<span class=\"_ _1\"></span>el 2022 <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>5<span class=\"_ _1\"></span>0 migliaia <span class=\"_ _1\"></span>di euro<span class=\"_ _1\"></span> qual<span class=\"_ _1\"></span>e miglior s<span class=\"_ _1\"></span>tima d<span class=\"_ _1\"></span>elle sp<span class=\"_ _1\"></span>ese di d<span class=\"_ _1\"></span>ifesa da<span class=\"_ _1\"></span> sosten<span class=\"_ _1\"></span>ere a<span class=\"_ _26a\"> </span></span>fronte di un contenz<span class=\"_ _1\"></span>ioso fiscale emerso nel cors<span class=\"_ _1\"></span>o del 2022;<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>s<span class=\"_ _1\"></span>tanziamenti per 104 m<span class=\"_ _1\"></span>igliaia di Euro per a<span class=\"_ _1\"></span>lcune contestazioni e vert<span class=\"_ _1\"></span>enze di diver<span class=\"_ _1\"></span>sa natura.<span class=\"_ _8\"></span> </span>Nel corso <span class=\"ff5\">dell\u2019eserc<span class=\"_ _1\"></span>izio sono stati<span class=\"_ _1\"></span> utilizzati i fondi acca<span class=\"_ _1\"></span>ntonati nell\u2019eserc<span class=\"_ _1\"></span>izio precedente e ri<span class=\"_ _1\"></span>feriti a:<span class=\"_ _8\"></span></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>un co<span class=\"_ _1\"></span>ntenzioso co<span class=\"_ _1\"></span>n alcuni <span class=\"_ _1\"></span>dipendenti della<span class=\"_ _1\"></span> societ\u00e0 Speed<span class=\"_ _1\"></span> North America<span class=\"_ _1\"></span> e chiuso n<span class=\"_ _1\"></span>el corso del<span class=\"_ _1\"></span> 2022<span class=\"_ _26a\"> </span></span>con <span class=\"_ _3\"></span>il pagamento <span class=\"_ _3\"></span>da <span class=\"_ _3\"></span>parte della <span class=\"_ _2\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _3\"></span>dell\u2019importo<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>stanzia<span class=\"_ _1\"></span><span class=\"ff2\">to<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>al 31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>2021,<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>pari <span class=\"_ _3\"></span>a 325 <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>igliaia<span class=\"_ _26a\"> </span></span>di dollari americani;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>un contenz<span class=\"_ _1\"></span>ioso di natura fiscale in capo alla societ\u00e0 Speed France e definito nel corso del 2022 <span class=\"_ _3\"></span>con il<span class=\"_ _26a\"> </span></span>pagamento di 55 mig<span class=\"_ _1\"></span>liaia di Euro.<span class=\"_ _1\"></span> Il Gruppo, anche sulla b<span class=\"_ _1\"></span>ase delle informaz<span class=\"_ _1\"></span>ioni allo <span class=\"_ _1\"></span>stat<span class=\"_ _1\"></span>o attuali disponibi<span class=\"_ _1\"></span>li e sulla scorta de<span class=\"_ _1\"></span>l parere dei propri<span class=\"_ _26a\"> </span>consulenti, non ritien<span class=\"_ _1\"></span>e di stanziare ul<span class=\"_ _1\"></span>teriori fondi per p<span class=\"_ _1\"></span>assivit\u00e0 incomben<span class=\"_ _1\"></span>ti.<span class=\"_ _1\"></span> 35. Altre passivit\u00e0 no<span class=\"_ _1\"></span>n correnti<span class=\"_ _1\"></span> La voce <span class=\"ff6\">\u201cAltre pas<span class=\"_ _1\"></span>sivit\u00e0 no<span class=\"_ _1\"></span>n correnti\u201d </span>p<span class=\"_ _1\"></span>ari a Euro 1.510 mig<span class=\"_ _1\"></span>liaia include:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ls4\">876</span> migliaia di Euro (1.521 migliaia di Euro <span class=\"_ _3\"></span>al 31 dicembre 2021) relativi al debito a <span class=\"_ _3\"></span>lungo termine per<span class=\"_ _26a\"> </span></span>l\u2019acquisizione <span class=\"_ _1e\"> </span>da <span class=\"_ _21\"> </span>p<span class=\"_ _1\"></span>arte <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>Spe<span class=\"_ _1\"></span>ed <span class=\"_ _21\"> </span>France <span class=\"_ _1e\"> </span>del<span class=\"_ _1\"></span>la <span class=\"_ _21\"> </span>tecnol<span class=\"_ _1\"></span>ogia <span class=\"_ _21\"> </span>per <span class=\"_ _1e\"> </span>la <span class=\"_ _1e\"> </span>produzione <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>mono <span class=\"_ _1e\"> </span>filamenti <span class=\"_ _1e\"> </span>in<span class=\"_ _26a\"> </span>poliestere e cavi per a<span class=\"_ _1\"></span>pplicazioni agricol<span class=\"_ _1\"></span>e;<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>405 <span class=\"_ _21\"> </span>migliaia <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>Euro, <span class=\"_ _1e\"> </span>428 <span class=\"_ _21\"> </span>migliaia <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>Euro <span class=\"_ _1e\"> </span>al <span class=\"_ _21\"> </span>31 <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>icembre <span class=\"_ _21\"> </span>20<span class=\"_ _1\"></span>21, <span class=\"_ _21\"> </span>riferiti <span class=\"_ _21\"> </span>al<span class=\"_ _1\"></span>le <span class=\"_ _21\"> </span>quote <span class=\"_ _1e\"> </span>parti <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>futura<span class=\"_ _1\"></span> </span>competenza <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _8\"></span>contribu<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onto <span class=\"_ _8\"></span>impian<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>contabil<span class=\"_ _1\"></span>izzati <span class=\"_ _8\"></span>ai <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ensi <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>Legge <span class=\"_ _11\"></span>488/92 <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>f<span class=\"_ _1\"></span>avore <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>societ\u00e0 Comag S.r.l., poi fusa in Emak S.p.A.. La parte di <span class=\"_ _3\"></span>contribu<span class=\"_ _1\"></span><span class=\"ff5\">ti riscontabile entr<span class=\"_ _1\"></span>o l\u2019anno \u00e8 inserita<span class=\"_ _26a\"> </span></span>nel passivo corrente tra <span class=\"_ _1\"></span>gli altri debiti ed am<span class=\"_ _1\"></span>monta a 23 migl<span class=\"_ _1\"></span>iaia di Euro;<span class=\"_ _8\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>126 <span class=\"_ _1\"></span>migliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>(170 <span class=\"_ _1\"></span>migliai<span class=\"_ _1\"></span>a d<span class=\"_ _1\"></span>i E<span class=\"_ _1\"></span>uro ne<span class=\"_ _1\"></span>l 2<span class=\"_ _1\"></span>021) r<span class=\"_ _1\"></span>elativo <span class=\"_ _1\"></span>alle <span class=\"_ _1\"></span>quote <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>i d<span class=\"_ _1\"></span>i fu<span class=\"_ _1\"></span>tura c<span class=\"_ _1\"></span>ompetenza <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span></span>contributi <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onto <span class=\"_ _11\"></span>impianti <span class=\"_ _11\"></span>riferit<span class=\"_ _1\"></span><span class=\"ff5\">i <span class=\"_ _11\"></span>ai <span class=\"_ _8\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>lo <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>viluppo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>nuovi <span class=\"_ _11\"></span>prodotti <span class=\"_ _11\"></span>nell\u2019ambito <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>progetto<span class=\"_ _26a\"> </span></span>pluriennale <span class=\"_ _23\"> </span>og<span class=\"_ _1\"></span>getto <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>gevolazioni <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>part<span class=\"_ _1\"></span>e <span class=\"_ _23\"> </span>del <span class=\"_ _21\"> </span>Ministero <span class=\"_ _23\"> </span>del<span class=\"_ _1\"></span>lo <span class=\"_ _23\"> </span>Sviluppo <span class=\"_ _21\"> </span>Economico. <span class=\"_ _21\"> </span>La <span class=\"_ _23\"> </span>parte <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span>contributi <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iscontabile <span class=\"_ _8\"></span>entro <span class=\"_ _8\"></span>l\u2019anno <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>inserita <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>passivo <span class=\"_ _8\"></span>corrente <span class=\"_ _8\"></span>tra <span class=\"_ _8\"></span>gli <span class=\"_ _8\"></span>altri <span class=\"_ _8\"></span>debi<span class=\"_ _8\"></span><span class=\"ff2\">ti <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>ammonta <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>94<span class=\"_ _26a\"> </span></span>migliaia di Euro.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eur<span class=\"_ _3\"></span>o<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>1<span class=\"_ _96\"> </span>I<span class=\"_ _1\"></span>ncre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>me<span class=\"_ _8\"></span>nti<span class=\"_ _25\"> </span>D<span class=\"_ _2\"></span>e<span class=\"_ _8\"></span>cre<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>ff<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>o<span class=\"_ _26a\"> </span>ca<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>bio<span class=\"_ _26a\"> </span>31<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.202<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>Fon<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ind<span class=\"_ _3\"></span>enn<span class=\"_ _3\"></span>it\u00e0 <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>up<span class=\"_ _3\"></span>pletiv<span class=\"_ _9\"></span>a di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>lientela<span class=\"_ _26a\"> </span>2.46<span class=\"_ _3\"></span>6<span class=\"_ _db\"> </span><span class=\"ls69\">245<span class=\"_ _19c\"> </span></span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>03)<span class=\"_ _1d4\"> </span>2.60<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>ri fo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>124<span class=\"_ _80\"> </span>136<span class=\"_ _f3\"> </span><span class=\"ls1\">(9<span class=\"_ _3\"></span>2)<span class=\"_ _c2\"> </span><span class=\"ls69\">2 <span class=\"_ _64\"> </span>170<span class=\"_ _26a\"> </span></span></span>Tota<span class=\"_ _1\"></span>le<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>corrente<span class=\"_ _26a\"> </span>2.59<span class=\"_ _3\"></span>0<span class=\"_ _db\"> </span><span class=\"ls69\">381<span class=\"_ _fd\"> </span></span>(1<span class=\"_ _3\"></span>95<span class=\"_ _3\"></span>)<span class=\"_ _f2\"> </span>-<span class=\"_ _75\"> </span>2<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>778<span class=\"_ _26a\"> </span>Fon<span class=\"_ _3\"></span>do<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ga<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nzia <span class=\"_ _1\"></span>pr<span class=\"_ _2\"></span>odo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>1.31<span class=\"_ _3\"></span>5<span class=\"_ _f2\"> </span><span class=\"ls69\">62<span class=\"_ _f2\"> </span></span>(4<span class=\"_ _2\"></span>1)<span class=\"_ _75\"> </span><span class=\"ls69\">1 <span class=\"_ _123\"> </span></span>1.<span class=\"_ _1\"></span>33<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>ri fo<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>571<span class=\"_ _58\"> </span>154 <span class=\"_ _fd\"> </span><span class=\"ls1\">(5<span class=\"_ _3\"></span>02<span class=\"_ _3\"></span>)<span class=\"_ _fd\"> </span><span class=\"ls69\">23 <span class=\"_ _58\"> </span>246<span class=\"_ _26a\"> </span></span></span>Tota<span class=\"_ _1\"></span>le<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span>1.88<span class=\"_ _3\"></span>6<span class=\"_ _db\"> </span><span class=\"ls69\">216<span class=\"_ _fd\"> </span></span>(5<span class=\"_ _3\"></span>43<span class=\"_ _3\"></span>)<span class=\"_ _d0\"> </span><span class=\"ls69\">24 <span class=\"_ _1d5\"> </span></span>1.58<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>36. Passivit\u00e0 potenz<span class=\"_ _1\"></span>iali<span class=\"_ _26a\"> </span> Il <span class=\"_ _20\"></span>Gruppo <span class=\"_ _20\"></span>non <span class=\"_ _20\"></span>ha <span class=\"_ _20\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _20\"></span>essere <span class=\"_ _20\"></span>ulteriori <span class=\"_ _20\"></span>co<span class=\"_ _1\"></span>ntenziosi <span class=\"_ _20\"></span>significativ<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>quelli <span class=\"_ _20\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>potrebbero <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>are <span class=\"_ _20\"></span>origine <span class=\"_ _20\"></span>a<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> passivit\u00e0 potenziali.<span class=\"_ _1\"></span><span class=\"ff4\"> </span>37. Impegni<span class=\"_ _26a\"> </span> Acquisti di immobiliz<span class=\"_ _1\"></span>zazioni<span class=\"_ _1\"></span> Il Gruppo <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>impegni per <span class=\"_ _1\"></span>acquisti <span class=\"_ _1\"></span>di i<span class=\"_ _1\"></span>mmobilizzazioni <span class=\"_ _1\"></span>non co<span class=\"_ _1\"></span>ntabilizzati <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>alla data <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>31 dice<span class=\"_ _1\"></span>mbre<span class=\"_ _26a\"> </span> 2022 per un importo p<span class=\"_ _1\"></span>ari a 3.802 m<span class=\"_ _1\"></span>igliaia di Euro. <span class=\"_ _1\"></span><span class=\"ff4\"> </span>Tali impegni si riferisc<span class=\"_ _1\"></span>ono principalment<span class=\"_ _1\"></span>e all\u2019acquisto di attrezz<span class=\"_ _1\"></span>ature. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Acquisti di ulteriori<span class=\"_ _1\"></span> quote di parte<span class=\"_ _1\"></span>cipazioni<span class=\"_ _1\"></span> Si <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>egnala <span class=\"_ _20\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>relativamente <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lle <span class=\"_ _20\"></span>partecipaz<span class=\"_ _1\"></span>ioni <span class=\"_ _20\"></span>detenute <span class=\"_ _20\"></span>dir<span class=\"_ _1\"></span>ettamente <span class=\"_ _20\"></span>o <span class=\"_ _23\"></span>indirettamente <span class=\"_ _20\"></span>dalla <span class=\"_ _20\"></span>Ca<span class=\"_ _1\"></span>pogruppo<span class=\"_ _26a\"> </span> Emak S.p.A. sono in <span class=\"_ _1\"></span>essere i seguenti ac<span class=\"_ _1\"></span>cordi contrattual<span class=\"_ _1\"></span>i:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>tratto <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>acquisizione della <span class=\"_ _2\"></span>controllata Valley <span class=\"_ _2\"></span>In<span class=\"_ _1\"></span>dustr<span class=\"_ _1\"></span><span class=\"ff5\">ies LLP <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _3\"></span>stata <span class=\"_ _3\"></span>definita un\u2019opzione <span class=\"_ _2\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> &amp; <span class=\"_ _3\"></span>Cal<span class=\"_ _1\"></span>l<span class=\"ff5 lsf\">\u201d<span class=\"_ _26a\"> </span></span></span></span></span><span class=\"ff2\"><span class=\"ff5\"><span class=\"ff7\"><span class=\"ff5 lsf\"> </span></span></span></span>per <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>restante <span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>della <span class=\"_ _8\"></span>partecipazione <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>favore <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span><span class=\"ff7\"> <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>ust</span> <span class=\"_ _8\"></span>Savage I<span class=\"_ _1\"></span>nvestments <span class=\"_ _8\"></span>LLC, <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itarsi <span class=\"_ _1\"></span>senza<span class=\"_ _26a\"> </span> alcun vincolo di scade<span class=\"_ _1\"></span>nza;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel c<span class=\"_ _1\"></span>ontratto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisiz<span class=\"_ _1\"></span>ione <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>societ<span class=\"_ _1\"></span>\u00e0 con<span class=\"_ _1\"></span>trollata <span class=\"_ _1\"></span>Markus<span class=\"_ _1\"></span>son, <span class=\"_ _1\"></span>partecipa<span class=\"_ _8\"></span>ta <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.r.l. <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>una<span class=\"_ _1\"></span> </span>quota pari <span class=\"_ _1\"></span>al 51%, v<span class=\"_ _1\"></span>i \u00e8 <span class=\"_ _1\"></span>un a<span class=\"_ _1\"></span>ccordo di \u201c<span class=\"_ _1\"></span><span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp; <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span></span>Op<span class=\"_ _1\"></span>tion\u201d che <span class=\"_ _1\"></span>regola l\u2019ac<span class=\"_ _1\"></span>quisto del <span class=\"_ _1\"></span>30% da <span class=\"_ _1\"></span>esercitare <span class=\"_ _1\"></span>dal<span class=\"_ _26a\"> </span> 1 maggio 2023 al 15 <span class=\"_ _1\"></span>giugno 2023 e per <span class=\"_ _1\"></span>il restante 19% dal 1 <span class=\"_ _1\"></span>maggio 2026;<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>ntratto <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>acquisiz<span class=\"_ _1\"></span>ione <span class=\"_ _21\"> </span>della <span class=\"_ _21\"> </span>societ\u00e0<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>oll<span class=\"_ _1\"></span>egata <span class=\"_ _21\"> </span>Agres <span class=\"_ _21\"> </span>Siste<span class=\"_ _1\"></span>mas <span class=\"_ _21\"> </span>Eletr\u00f4nicos<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>S.A<span class=\"_ _1\"></span>, <span class=\"_ _21\"> </span>partecipa<span class=\"_ _1\"></span>ta <span class=\"_ _21\"> </span>da<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>Tecomec <span class=\"_ _1\"></span>S.r.l. <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>ota p<span class=\"_ _1\"></span>ari <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>91%, <span class=\"_ _1\"></span>vi <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>accordo <span class=\"_ _1\"></span>di<span class=\"_ _8\"></span> <span class=\"ff5\">\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>and <span class=\"_ _1\"></span>Call</span>\u201d <span class=\"_ _8\"></span>per l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>un\u2019ulteriore<span class=\"_ _1\"></span> </span>quota del 9% da eserc<span class=\"_ _1\"></span>itarsi per il 50% d<span class=\"_ _1\"></span>al 1 gennaio<span class=\"_ _1\"></span> 2023 e per <span class=\"_ _1\"></span>il restante 50<span class=\"_ _1\"></span>% dal 1 gennaio <span class=\"_ _1\"></span>2026;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _20\"></span>contr<span class=\"_ _1\"></span>atto <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>ac<span class=\"_ _1\"></span>quisizione <span class=\"_ _23\"> </span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>Poli <span class=\"_ _20\"></span>S.r.l., <span class=\"_ _23\"> </span>controllata <span class=\"_ _23\"> </span>da <span class=\"_ _23\"></span>Comet <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>con <span class=\"_ _20\"></span>una <span class=\"_ _23\"> </span>quota <span class=\"_ _23\"></span>pari<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>all\u201980%, \u00e8 incluso un acc<span class=\"_ _1\"></span>ordo di \u201c<span class=\"ff7\">Pu<span class=\"_ _1\"></span>t and Call</span>\u201d per l\u2019ac<span class=\"_ _1\"></span>quisto del restante 2<span class=\"_ _1\"></span>0% da eserc<span class=\"_ _1\"></span>itarsi tra il 20<span class=\"_ _1\"></span><span class=\"ff2\">24 e<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>2026. 38. Garanzie<span class=\"_ _1\"></span> Al <span class=\"_ _11\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _20\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>Gruppo <span class=\"_ _20\"></span>ha <span class=\"_ _20\"></span>prestato <span class=\"_ _20\"></span>garanzie<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a <span class=\"_ _11\"></span>terzi <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>5.<span class=\"_ _1\"></span>762 <span class=\"_ _20\"></span>miglia<span class=\"_ _1\"></span>ia <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>Euro, <span class=\"_ _20\"></span>riguard<span class=\"_ _1\"></span>anti <span class=\"_ _11\"></span>po<span class=\"_ _1\"></span>lizze<span class=\"_ _26a\"> </span> fideiussorie per diritti <span class=\"_ _1\"></span>doganali e garanzi<span class=\"_ _1\"></span>e bancarie. <span class=\"_ _1\"></span> 39. Azioni ordinarie, azio<span class=\"_ _1\"></span>ni proprie e div<span class=\"_ _1\"></span>idendi<span class=\"_ _1\"></span> Il <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _3\"></span>social<span class=\"_ _1\"></span>e, <span class=\"_ _3\"></span>interamente versato, <span class=\"_ _2\"></span>am<span class=\"_ _1\"></span>monta <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>31 dicembre <span class=\"_ _3\"></span>2022 a <span class=\"_ _2\"></span>42.623 migliaia <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>Euro <span class=\"_ _3\"></span>ed \u00e8 <span class=\"_ _2\"></span>costituito<span class=\"_ _1\"></span> da n. 163.934.835 az<span class=\"_ _1\"></span>ioni ordinarie de<span class=\"_ _1\"></span>l valore nomina<span class=\"_ _1\"></span>le di Euro 0,26 cada<span class=\"_ _1\"></span>una.<span class=\"_ _1\"></span> Nel <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orso <span class=\"_ _3\"></span>dell\u2019esercizio 2022 <span class=\"_ _2\"></span>sono stati <span class=\"_ _2\"></span>pagati <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>dividendi deliberati <span class=\"_ _2\"></span>ne<span class=\"_ _1\"></span>ll\u2019assemblea <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>Emak <span class=\"_ _3\"></span>S.p.A. <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>29 <span class=\"_ _3\"></span>aprile<span class=\"_ _26a\"> </span> 2022 relativi all\u2019eserc<span class=\"_ _1\"></span>izio 2021 per comp<span class=\"_ _1\"></span>lessivi 12.266 migliai<span class=\"_ _1\"></span>a di Euro.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Al <span class=\"_ _8\"></span>31 <span class=\"_ _8\"></span>dicembre<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>2021, <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>deteneva <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>portafoglio <span class=\"_ _8\"></span>numero<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>397<span class=\"_ _8\"></span>.233 <span class=\"_ _8\"></span>azioni <span class=\"_ _11\"></span>proprie <span class=\"_ _1\"></span>per<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>controva<span class=\"_ _1\"></span>lore<span class=\"_ _26a\"> </span> pari a 2.029 migliaia d<span class=\"_ _1\"></span>i Euro.<span class=\"_ _1\"></span> A <span class=\"_ _1\"></span>segu<span class=\"_ _1\"></span>ito <span class=\"_ _1\"></span>dell\u2019autor<span class=\"_ _1\"></span>izzazione <span class=\"_ _8\"></span>conferita <span class=\"_ _8\"></span>dall\u2019Assemblea <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>Azionisti <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>dat<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>29 <span class=\"_ _8\"></span>aprile <span class=\"_ _8\"></span>2022, <span class=\"_ _8\"></span>Emak <span class=\"_ _8\"></span>S.p.A. <span class=\"_ _1\"></span>ha<span class=\"_ _1\"></span> effettuato acquisti sul <span class=\"_ _1\"></span>mercato di azioni pro<span class=\"_ _1\"></span>prie.<span class=\"_ _1\"></span> Nel <span class=\"_ _11\"></span>corso <span class=\"_ _11\"></span>dell\u2019ultimo <span class=\"_ _11\"></span>t<span class=\"_ _1\"></span>rimestre <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>ll\u2019esercizio <span class=\"_ _11\"></span>2022 <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>acquistato <span class=\"_ _11\"></span>n. <span class=\"_ _20\"></span>700.000 <span class=\"_ _11\"></span>azioni <span class=\"_ _11\"></span>proprie <span class=\"_ _20\"></span>per <span class=\"_ _11\"></span>un<span class=\"_ _26a\"> </span> controvalore <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>806 <span class=\"_ _20\"></span>migliai<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>Euro. <span class=\"_ _20\"></span>Pertanto, <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>3<span class=\"_ _1\"></span>1 <span class=\"_ _20\"></span>dicembre <span class=\"_ _11\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _11\"></span>la <span class=\"_ _20\"></span>societ\u00e0 <span class=\"_ _20\"></span>detiene <span class=\"_ _20\"></span>n. <span class=\"_ _20\"></span>1.097.233 <span class=\"_ _20\"></span>azioni<span class=\"_ _26a\"> </span> proprie in portafoglio p<span class=\"_ _1\"></span>er un controvalore d<span class=\"_ _1\"></span>i 2.835 migliaia <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i Euro.<span class=\"_ _1\"></span> Nel <span class=\"_ _2\"></span>corso <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>mesi <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>genn<span class=\"_ _1\"></span>aio <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>febbraio<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>2023 <span class=\"_ _3\"></span>non <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _2\"></span>verif<span class=\"_ _1\"></span>icate <span class=\"_ _2\"></span>var<span class=\"_ _1\"></span>iazioni <span class=\"_ _3\"></span>nella <span class=\"_ _2\"></span>cons<span class=\"_ _1\"></span>istenza <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>portafog<span class=\"_ _1\"></span>lio<span class=\"_ _26a\"> </span> di azioni proprie.<span class=\"_ _1\"></span> 31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _89\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>N<span class=\"_ _3\"></span>ume<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o azioni or<span class=\"_ _3\"></span>din<span class=\"_ _2\"></span>ar<span class=\"_ _3\"></span>ie<span class=\"_ _12b\"> </span>163<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>934<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>835<span class=\"_ _81\"> </span>16<span class=\"_ _2\"></span>3.934<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>835<span class=\"_ _26a\"> </span>Az<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pr<span class=\"_ _2\"></span>op<span class=\"_ _3\"></span>rie<span class=\"_ _3\"></span> i<span class=\"_ _1\"></span>n po<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>af<span class=\"_ _2\"></span>og<span class=\"_ _2\"></span>li<span class=\"_ _1\"></span>o<span class=\"_ _ce\"> </span>(1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>09<span class=\"_ _3\"></span>7.23<span class=\"_ _2\"></span>3)<span class=\"_ _d4\"> </span>(3<span class=\"_ _3\"></span>97<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>233<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>oni<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>circola<span class=\"_ _1\"></span>z<span class=\"_ _8\"></span>ione<span class=\"_ _cc\"> </span>16<span class=\"_ _3\"></span>2.83<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>60<span class=\"_ _2\"></span>2<span class=\"_ _11e\"> </span>16<span class=\"_ _3\"></span>3.53<span class=\"_ _3\"></span>7.60<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>40. Operazioni con pa<span class=\"_ _1\"></span>rti correlate<span class=\"_ _1\"></span><span class=\"ff7\"> </span>Le <span class=\"_ _3\"></span>operazion<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>compi<span class=\"_ _1\"></span>ute <span class=\"_ _3\"></span>con<span class=\"_ _1\"></span> parti <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orrelate dal <span class=\"_ _3\"></span>Gruppo Emak nell\u2019esercizio 20<span class=\"_ _1\"></span><span class=\"ff2\">22 riguardano principalmente tre </span>diverse <span class=\"_ _8\"></span>tipologie <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>rapport<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>natura <span class=\"_ _8\"></span>usuale, <span class=\"_ _8\"></span>rientra<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>nell\u2019ordinario <span class=\"_ _8\"></span>eserciz<span class=\"_ _1\"></span>io <span class=\"_ _8\"></span>dell\u2019attivit\u00e0, <span class=\"_ _8\"></span>regolate <span class=\"_ _11\"></span>a <span class=\"_ _1\"></span>normal<span class=\"_ _1\"></span>i condizioni di merc<span class=\"_ _1\"></span>ato. In <span class=\"_ _20\"></span>primo <span class=\"_ _23\"></span>luogo, <span class=\"_ _20\"></span>si <span class=\"_ _23\"></span>tratta <span class=\"_ _20\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>sc<span class=\"_ _1\"></span>ambi <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>ben<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>prestazioni <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>servizio <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>natura <span class=\"_ _23\"></span>industriale <span class=\"_ _20\"></span>ed <span class=\"_ _23\"></span>immobiliare, rispondenti <span class=\"_ _8\"></span>ad <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>na <span class=\"_ _8\"></span>stringente <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ogica <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>fina<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _8\"></span>produttiv<span class=\"_ _1\"></span>a, <span class=\"_ _8\"></span>intrattenute <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>ntrollante <span class=\"_ _8\"></span>YAMA<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>S.p.A. <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on talune soc<span class=\"_ _1\"></span>iet\u00e0 da <span class=\"_ _1\"></span>questa <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>ntrollate. <span class=\"_ _1\"></span>Da <span class=\"_ _1\"></span>un l<span class=\"_ _1\"></span>ato, <span class=\"_ _1\"></span>tra <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 sotto <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>diretto <span class=\"_ _1\"></span>controllo <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Yama, <span class=\"_ _1\"></span>alcune <span class=\"_ _1\"></span>hanno fornito <span class=\"_ _21\"> </span>ne<span class=\"_ _1\"></span>l <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>orso <span class=\"_ _1e\"> </span>dell\u2019esercizio <span class=\"_ _1e\"> </span>al <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _1e\"> </span>Emak <span class=\"_ _21\"> </span>com<span class=\"_ _1\"></span>ponenti <span class=\"_ _21\"> </span>e <span class=\"_ _1f\"> </span>materiali <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>pro<span class=\"_ _1\"></span>duzione, <span class=\"_ _1e\"> </span>nonch\u00e9 <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ervizi <span class=\"_ _1e\"> </span>di locazione <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>superfici <span class=\"_ _11\"></span>industriali. <span class=\"_ _8\"></span>D<span class=\"_ _1\"></span>ai <span class=\"_ _11\"></span>rapporti <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>locaz<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>immobiliare <span class=\"_ _11\"></span>passiva <span class=\"_ _11\"></span>intra<span class=\"_ _8\"></span>ttenuti <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>la <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>nsociata Yama <span class=\"_ _11\"></span>Immo<span class=\"_ _1\"></span>biliare <span class=\"_ _20\"></span>S.r.l., <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>erivano, <span class=\"_ _11\"></span>in <span class=\"_ _20\"> </span>particolare,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>importi <span class=\"_ _20\"> </span>di <span class=\"_ _20\"></span>entit\u00e0 <span class=\"_ _11\"></span>signif<span class=\"_ _1\"></span>icativa <span class=\"_ _11\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>Diritti <span class=\"_ _20\"></span>d\u2019uso, <span class=\"_ _20\"></span>pari <span class=\"_ _11\"></span>a <span class=\"_ _20\"></span>13.860 migliaia <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>Euro, <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>Passivit\u00e0 <span class=\"_ _12\"> </span>derivanti <span class=\"_ _27\"> </span>d<span class=\"_ _1\"></span>a <span class=\"_ _27\"> </span>leas<span class=\"_ _1\"></span>e, <span class=\"_ _27\"> </span>pari <span class=\"_ _12\"> </span>a <span class=\"_ _27\"> </span>14.4<span class=\"_ _1\"></span>59 <span class=\"_ _27\"> </span>migli<span class=\"_ _1\"></span>aia <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>Euro, <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>Svalutazioni <span class=\"_ _12\"> </span>ed ammortamenti, <span class=\"_ _1\"></span>pari a <span class=\"_ _1\"></span>1.741<span class=\"_ _1\"></span> migliaia <span class=\"_ _1\"></span>di Euro, <span class=\"_ _1\"></span>e di<span class=\"_ _1\"></span> Oneri <span class=\"_ _1\"></span>finanziari, p<span class=\"_ _1\"></span>ari a <span class=\"_ _1\"></span>366 m<span class=\"_ _1\"></span>igliaia di <span class=\"_ _1\"></span>Euro, in <span class=\"_ _1\"></span>conformit\u00e0<span class=\"_ _1\"></span> al principio contabile IF<span class=\"_ _1\"></span>RS 16, propriame<span class=\"_ _1\"></span>nte identificati nei prosp<span class=\"_ _1\"></span>etti di bilancio.<span class=\"_ _8\"></span> Per <span class=\"_ _3\"></span>converso, alcune <span class=\"_ _2\"></span>soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>Gruppo Yama <span class=\"_ _2\"></span>h<span class=\"_ _1\"></span>anno acquistato <span class=\"_ _2\"></span>dal Gruppo Emak prodotti <span class=\"_ _2\"></span>di completamento della loro rispettiva g<span class=\"_ _1\"></span>amma di offerta co<span class=\"_ _1\"></span>mmerciale.<span class=\"_ _1\"></span> In <span class=\"_ _11\"></span>secondo <span class=\"_ _20\"></span>luogo, <span class=\"_ _20\"></span>correlazioni <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>nat<span class=\"_ _1\"></span>ura <span class=\"_ _11\"></span>tributaria<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>caratt<span class=\"_ _1\"></span>ere <span class=\"_ _11\"></span>us<span class=\"_ _1\"></span>uale <span class=\"_ _11\"></span>derivan<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>da<span class=\"_ _1\"></span>lla <span class=\"_ _11\"></span>partecip<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>lla Capogruppo <span class=\"_ _3\"></span>Emak <span class=\"_ _2\"></span>S.p.A. <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ntrollate <span class=\"_ _2\"></span>Come<span class=\"_ _1\"></span>t <span class=\"_ _2\"></span>S.p.A., <span class=\"_ _2\"></span>Teco<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ec <span class=\"_ _2\"></span>S.r.l., <span class=\"_ _2\"></span>S<span class=\"_ _1\"></span>abart <span class=\"_ _2\"></span>S.r<span class=\"_ _1\"></span>.l., <span class=\"_ _2\"></span>PTC <span class=\"_ _2\"></span>S.r.l <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>Lavorwash<span class=\"_ _1\"></span> S.p.A. al regime di conso<span class=\"_ _1\"></span>lidato fiscale ex<span class=\"_ _1\"></span> artt. 117 e segg., TUI<span class=\"_ _1\"></span>R, intercorrent<span class=\"_ _1\"></span>e con Yama S.p.A.<span class=\"_ _1\"></span>, quest\u2019ultima in <span class=\"_ _11\"></span>qualit\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>cons<span class=\"_ _1\"></span>olidante. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>criteri <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>modalit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>regolamento <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>tali <span class=\"_ _8\"></span>rapport<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>stabili<span class=\"_ _8\"></span>ti <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>for<span class=\"_ _1\"></span>malizzati <span class=\"_ _11\"></span>in accordi di <span class=\"_ _3\"></span>consolidam<span class=\"_ _1\"></span>ento, fondati <span class=\"_ _3\"></span>sulla parit\u00e0 di trattamento <span class=\"_ _3\"></span>tra i partecipanti. <span class=\"_ _3\"></span>L\u2019ammo<span class=\"_ _1\"></span>ntare dei <span class=\"_ _3\"></span>saldi con parti correlate, relativi ai rapp<span class=\"_ _1\"></span>orti di consolidato f<span class=\"_ _1\"></span>iscale, sono esposti <span class=\"_ _1\"></span>alle note 24 e 29.<span class=\"_ _8\"></span> Un ulteriore a<span class=\"_ _1\"></span>mbito di <span class=\"_ _1\"></span>rapporti <span class=\"_ _1\"></span><span class=\"ff5\">con \u201caltre <span class=\"_ _1\"></span>parti correl<span class=\"_ _1\"></span>ate\u201d deriva <span class=\"_ _1\"></span>da prestazion<span class=\"_ _1\"></span>i di ser<span class=\"_ _1\"></span>vizi professionali <span class=\"_ _1\"></span>di natura<span class=\"_ _1\"></span> </span>legale e tributaria, res<span class=\"_ _1\"></span>i da entit\u00e0 soggette ad <span class=\"_ _1\"></span>influenza notevo<span class=\"_ _1\"></span>le da parte di un am<span class=\"_ _1\"></span>ministratore non es<span class=\"_ _1\"></span>ecutivo.<span class=\"_ _26a\"> </span>La <span class=\"_ _8\"></span>natura <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>l\u2019entit\u00e0 <span class=\"_ _8\"></span>delle <span class=\"_ _8\"></span>operazioni <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>na<span class=\"_ _1\"></span>tura <span class=\"_ _8\"></span>usuale <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span><span class=\"ff2\">ricorrente <span class=\"_ _8\"></span>fin <span class=\"_ _8\"></span>qui <span class=\"_ _8\"></span>desc<span class=\"_ _1\"></span>ritte, <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>rapprese<span class=\"_ _1\"></span>ntata <span class=\"_ _8\"></span>nelle <span class=\"_ _11\"></span>due </span>tabelle che seguono.<span class=\"_ _1\"></span> Vendite di beni e serv<span class=\"_ _1\"></span>izi, crediti commerc<span class=\"_ _1\"></span>iali e diversi, rapport<span class=\"_ _1\"></span>i finanziari:<span class=\"_ _8\"></span> Acquisto di beni e serv<span class=\"_ _1\"></span>izi, debiti commerc<span class=\"_ _1\"></span>iali e diversi:<span class=\"_ _1\"></span> Con riguardo a valori che s<span class=\"_ _1\"></span>ono scaturiti in precedenti e<span class=\"_ _1\"></span>sercizi da operazioni con p<span class=\"_ _1\"></span>arti correlate, si prec<span class=\"_ _1\"></span>isa che l\u2019attivo <span class=\"_ _20\"></span>patrimoniale <span class=\"_ _20\"></span>tuttor<span class=\"_ _1\"></span>a <span class=\"_ _20\"></span>espone <span class=\"_ _20\"></span>avviament<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>pari <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>9.914 <span class=\"_ _20\"></span>migliaia <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>Euro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>(12<span class=\"_ _1\"></span>.823 <span class=\"_ _20\"></span>migliaia <span class=\"_ _20\"></span>di <span class=\"_ _20\"> </span>Euro <span class=\"_ _20\"> </span>al <span class=\"_ _20\"> </span>31<span class=\"_ _1\"></span> dicembre <span class=\"_ _8\"></span>2021). <span class=\"_ _8\"></span>Ta<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>valori <span class=\"_ _8\"></span>deriv<span class=\"_ _1\"></span>ano <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>alla <span class=\"_ _8\"></span>c.d. <span class=\"_ _8\"></span>oper<span class=\"_ _1\"></span>azione <span class=\"_ _8\"></span>Greenfiel<span class=\"_ _1\"></span>d <span class=\"_ _8\"></span>attraverso <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>quale <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>Emak, <span class=\"_ _8\"></span>in data <span class=\"_ _1\"></span>23/<span class=\"_ _1\"></span>12/2011, <span class=\"_ _8\"></span>ha <span class=\"_ _8\"></span>acquisito <span class=\"_ _8\"></span>dalla <span class=\"_ _8\"></span>control<span class=\"_ _1\"></span>lante <span class=\"_ _8\"></span>Yama <span class=\"_ _8\"></span>S.p.A. <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontrollo <span class=\"_ _8\"></span>totalitario <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>Gruppo <span class=\"_ _8\"></span>Tecom<span class=\"_ _1\"></span>ec, <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l Gruppo C<span class=\"_ _1\"></span>omet, <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Sabart <span class=\"_ _1\"></span>S.r<span class=\"_ _1\"></span>.l. <span class=\"_ _1\"></span><span class=\"ff5\">e, <span class=\"_ _1\"></span>prima <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>lora, <span class=\"_ _1\"></span>dall\u2019acquisizione <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span></span>ell<span class=\"_ _1\"></span>a soc<span class=\"_ _1\"></span>iet\u00e0 T<span class=\"_ _1\"></span>ailong, <span class=\"_ _1\"></span>avvenuta <span class=\"_ _8\"></span>nel 20<span class=\"_ _1\"></span>08 <span class=\"_ _1\"></span>il Dati <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>igl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> Euro<span class=\"_ _26a\"> </span>Ricavi <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> vendi<span class=\"_ _1\"></span>ta<span class=\"_ _26a\"> </span>Altri rica<span class=\"_ _1\"></span>vi ope<span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>tivi<span class=\"_ _26a\"> </span>Credi<span class=\"_ _1\"></span>ti comme<span class=\"_ _8\"></span>rcia<span class=\"_ _1\"></span>li<span class=\"_ _26a\"> </span>Altri cre<span class=\"_ _1\"></span>diti <span class=\"_ _1\"></span>pe<span class=\"_ _1\"></span>r cons<span class=\"_ _2\"></span>oli<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>to fis<span class=\"_ _2\"></span>ca<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>Total<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>credi<span class=\"_ _1\"></span>ti comme<span class=\"_ _8\"></span>rcia<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>ltri <span class=\"_ _1\"></span>cre<span class=\"_ _1\"></span>diti<span class=\"_ _26a\"> </span>Ricavi fina<span class=\"_ _1\"></span>nz<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>At<span class=\"_ _3\"></span>tivit\u00e0 fina<span class=\"_ _1\"></span>nz<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>rie<span class=\"_ _1\"></span> correnti<span class=\"_ _26a\"> </span>At<span class=\"_ _3\"></span>tivit\u00e0 fina<span class=\"_ _1\"></span>nz<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>rie<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>non correnti<span class=\"_ _26a\"> </span>Euro<span class=\"_ _3\"></span> Ref<span class=\"_ _3\"></span>lex <span class=\"_ _1\"></span>D.o.o.<span class=\"_ _eb\"> </span><span class=\"ls6a\">936 <span class=\"_ _2f\"> </span><span class=\"ls6b\">                    -   <span class=\"_ _10c\"> </span></span>335 <span class=\"_ _25\"> </span><span class=\"ls6b\">                     -<span class=\"_ _2\"></span>   <span class=\"_ _178\"> </span><span class=\"ls6a\">335 <span class=\"_ _12\"> </span></span>                     1 <span class=\"_ _149\"> </span>                     -<span class=\"_ _3\"></span>   <span class=\"_ _12\"> </span>                      -<span class=\"_ _3\"></span>   </span></span>Gar<span class=\"_ _3\"></span>mec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ea\"> </span><span class=\"ls6a\">106 <span class=\"_ _1d5\"> </span>1 <span class=\"_ _128\"> </span>1 <span class=\"_ _25\"> </span><span class=\"ls6b\">                     -<span class=\"_ _2\"></span>   <span class=\"_ _c7\"> </span><span class=\"ls6a\">1 <span class=\"_ _149\"> </span></span>                    -<span class=\"_ _3\"></span>   <span class=\"_ _12\"> </span>                     -<span class=\"_ _3\"></span>   <span class=\"_ _12\"> </span>                      -<span class=\"_ _3\"></span>   </span></span>Selett<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _f9\"> </span><span class=\"ls6b\">                     3<span class=\"_ _2\"></span> <span class=\"_ _2f\"> </span>                    -<span class=\"_ _3\"></span>                      4 <span class=\"_ _149\"> </span>                     -<span class=\"_ _2\"></span>                       4<span class=\"_ _2\"></span> <span class=\"_ _30\"> </span>                    -   <span class=\"_ _27\"> </span>                     -   <span class=\"_ _12\"> </span>                      -<span class=\"_ _2\"></span>   </span>Yama Immob<span class=\"_ _3\"></span>iliare<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _111\"> </span><span class=\"ls6b\">                    -<span class=\"_ _3\"></span>   <span class=\"_ _3\"></span>                     1<span class=\"_ _3\"></span> <span class=\"_ _1e\"> </span>                  52<span class=\"_ _3\"></span> <span class=\"_ _149\"> </span>                     -<span class=\"_ _3\"></span>                     52<span class=\"_ _2\"></span> <span class=\"_ _30\"> </span>                    -   <span class=\"_ _12\"> </span>                     -<span class=\"_ _2\"></span>   <span class=\"_ _12\"> </span>                      -   </span>Yama S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.                    -<span class=\"_ _3\"></span>                      10<span class=\"_ _2\"></span> <span class=\"_ _1f\"> </span>                  1<span class=\"_ _3\"></span>2 <span class=\"_ _26\"> </span>                   6<span class=\"_ _3\"></span>7<span class=\"_ _3\"></span>5 <span class=\"_ _93\"> </span><span class=\"ls6a\">687 <span class=\"_ _149\"> </span></span>                    -<span class=\"_ _3\"></span>   37 <span class=\"_ _6e\"> </span>111 Total<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span> (note<span class=\"_ _1\"></span> 24 e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>27)<span class=\"_ _26a\"> </span>1.045<span class=\"_ _3\"></span> <span class=\"_ _d9\"> </span><span class=\"ls6a\">12 <span class=\"_ _111\"> </span>404 <span class=\"_ _d9\"> </span>675 <span class=\"_ _bd\"> </span></span>1.079 <span class=\"_ _1d5\"> </span><span class=\"ls6a\">1 <span class=\"_ _fd\"> </span>37 <span class=\"_ _6e\"> </span>111 </span>Da<span class=\"_ _3\"></span>ti i<span class=\"_ _3\"></span>n m<span class=\"_ _2\"></span>igl<span class=\"_ _2\"></span>ia<span class=\"_ _3\"></span>ia<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _3\"></span> Euro<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>cqu<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>sto m<span class=\"_ _2\"></span>aterie<span class=\"_ _3\"></span> prim<span class=\"_ _2\"></span>e e<span class=\"_ _3\"></span> di<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>co<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>um<span class=\"_ _2\"></span>o<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri c<span class=\"_ _3\"></span>osti<span class=\"_ _2\"></span> op<span class=\"_ _3\"></span>erati<span class=\"_ _3\"></span>vi<span class=\"_ _26a\"> </span>De<span class=\"_ _3\"></span>bi<span class=\"_ _3\"></span>ti co<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>me<span class=\"_ _3\"></span>rci<span class=\"_ _3\"></span>al<span class=\"_ _2\"></span>i A<span class=\"_ _2\"></span>ltri de<span class=\"_ _2\"></span>biti<span class=\"_ _3\"></span> pe<span class=\"_ _3\"></span>r co<span class=\"_ _3\"></span>ns<span class=\"_ _3\"></span>ol<span class=\"_ _2\"></span>ida<span class=\"_ _3\"></span>to fi<span class=\"_ _2\"></span>sca<span class=\"_ _2\"></span>le<span class=\"_ _26a\"> </span>To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>bi<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> co<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>me<span class=\"_ _3\"></span>rci<span class=\"_ _3\"></span>al<span class=\"_ _2\"></span>i e al<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>re pa<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>iv<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>t\u00e0<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>eri f<span class=\"_ _2\"></span>ina<span class=\"_ _3\"></span>nzi<span class=\"_ _3\"></span>ari<span class=\"_ _26a\"> </span>Pa<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>iv<span class=\"_ _2\"></span>it\u00e0 de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>te da<span class=\"_ _3\"></span> l<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span> corren<span class=\"_ _3\"></span>ti<span class=\"_ _26a\"> </span>Pa<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>iv<span class=\"_ _2\"></span>it\u00e0 de<span class=\"_ _3\"></span>riv<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>te da<span class=\"_ _3\"></span> l<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>se<span class=\"_ _3\"></span> non<span class=\"_ _3\"></span> co<span class=\"_ _3\"></span>rr<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _26a\"> </span>Eu<span class=\"_ _3\"></span>ro R<span class=\"_ _2\"></span>efle<span class=\"_ _3\"></span>x<span class=\"_ _2\"></span> D.o.o.<span class=\"_ _c0\"> </span>2.31<span class=\"_ _2\"></span>4 <span class=\"_ _d9\"> </span><span class=\"ls6c\">38 <span class=\"_ _111\"> </span>400 <span class=\"_ _30\"> </span><span class=\"ls6d\">                      -   <span class=\"_ _178\"> </span></span>400 <span class=\"_ _8e\"> </span><span class=\"ls6d\">                     -   <span class=\"_ _26\"> </span>                      -   <span class=\"_ _90\"> </span>                       -   </span></span>G<span class=\"_ _2\"></span>arm<span class=\"_ _3\"></span>ec S.r.l.<span class=\"_ _1d6\"> </span><span class=\"ls6c\">21 </span>                    -   <span class=\"_ _2\"></span>                    4<span class=\"_ _3\"></span> <span class=\"_ _8e\"> </span>                      -<span class=\"_ _1\"></span>                        4<span class=\"_ _3\"></span> <span class=\"_ _f7\"> </span>                     -                         -   <span class=\"_ _90\"> </span>                       -   Se<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>et<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>ra S.r.l.<span class=\"_ _13b\"> </span><span class=\"ls6c\">117 <span class=\"_ _1b6\"> </span>9 </span>                  5<span class=\"_ _3\"></span>2 <span class=\"_ _8e\"> </span>                      -   <span class=\"_ _93\"> </span><span class=\"ls6c\">52 </span>                     -                         -   <span class=\"_ _90\"> </span>                       -   Ya<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>a Imm<span class=\"_ _2\"></span>ob<span class=\"_ _3\"></span>ilia<span class=\"_ _3\"></span>re S.r.l.                    -   <span class=\"_ _12\"> </span>                    -   <span class=\"_ _9\"></span>                    3 <span class=\"_ _8e\"> </span>                      -   <span class=\"_ _9\"></span>                     3<span class=\"_ _3\"></span>                   3<span class=\"_ _3\"></span>66<span class=\"_ _2\"></span>                  1<span class=\"_ _3\"></span>.67<span class=\"_ _2\"></span>0 12<span class=\"_ _3\"></span>.78<span class=\"_ _3\"></span>9 Ya<span class=\"_ _3\"></span>m<span class=\"_ _2\"></span>a S.p.A.                    -   <span class=\"_ _12\"> </span>                    -   <span class=\"_ _12\"> </span>                  -   <span class=\"_ _9\"></span>                    53<span class=\"_ _2\"></span>6 <span class=\"_ _b3\"> </span><span class=\"ls6c\">536 </span>                     -                         -   <span class=\"_ _90\"> </span>                       -   Al<span class=\"_ _2\"></span>tre pa<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ti correl<span class=\"_ _3\"></span>at<span class=\"_ _2\"></span>e                     -   <span class=\"_ _3\"></span>                  47<span class=\"_ _2\"></span>9                 2<span class=\"_ _3\"></span>38<span class=\"_ _2\"></span> <span class=\"_ _2f\"> </span>                      -   238                      -                         -   <span class=\"_ _90\"> </span>                       -   To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e  (nota<span class=\"_ _3\"></span> 29)<span class=\"_ _170\"> </span>2.45<span class=\"_ _3\"></span>2 <span class=\"_ _c3\"> </span><span class=\"ls6c\">526 <span class=\"_ _111\"> </span>697 <span class=\"_ _d9\"> </span>536 <span class=\"_ _b1\"> </span></span>1.23<span class=\"_ _2\"></span>3 <span class=\"_ _c7\"> </span><span class=\"ls6c\">366 <span class=\"_ _b3\"> </span></span>1.6<span class=\"_ _3\"></span>70<span class=\"_ _3\"></span> <span class=\"_ _2b\"> </span>12.78<span class=\"_ _3\"></span>9<span class=\"_ _26a\"> </span>cui <span class=\"_ _8\"></span>avviamento, <span class=\"_ _8\"></span>pari <span class=\"_ _8\"></span>a <span class=\"_ _11\"></span>2.957 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>Euro, <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>stato <span class=\"_ _11\"></span>completamente <span class=\"_ _8\"></span>svalutato <span class=\"_ _11\"></span>nel <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>izio <span class=\"_ _8\"></span>2022 <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>eguito<span class=\"_ _26a\"> </span>del test di impairment.<span class=\"_ _26a\"> </span>***********<span class=\"_ _26a\"> </span>I compensi <span class=\"_ _1\"></span>per l<span class=\"_ _1\"></span>\u2019esercizio 2<span class=\"_ _1\"></span>022 dovut<span class=\"_ _1\"></span>i agli A<span class=\"_ _1\"></span>mministratori e <span class=\"_ _1\"></span>Sin<span class=\"_ _8\"></span><span class=\"ff2\">daci della <span class=\"_ _1\"></span>Capogru<span class=\"_ _1\"></span>ppo, le <span class=\"_ _1\"></span>diverse <span class=\"_ _1\"></span>componenti<span class=\"_ _1\"></span> </span>che <span class=\"_ _12\"> </span>concorrono <span class=\"_ _2a\"> </span>a <span class=\"_ _12\"> </span>formar<span class=\"_ _1\"></span>li, <span class=\"_ _12\"> </span>la <span class=\"_ _12\"> </span>pol<span class=\"_ _1\"></span>itica <span class=\"_ _12\"> </span>di <span class=\"_ _12\"> </span>remu<span class=\"_ _1\"></span>nerazione <span class=\"_ _2a\"> </span>prescelta, <span class=\"_ _2a\"> </span>le <span class=\"_ _12\"> </span>proc<span class=\"_ _1\"></span>edure <span class=\"_ _12\"> </span>seguite <span class=\"_ _12\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _12\"> </span>la <span class=\"_ _2a\"> </span>loro<span class=\"_ _26a\"> </span>determinazione  e  le  parte<span class=\"_ _1\"></span>cipazioni  nel  Gruppo  da  ess<span class=\"_ _1\"></span>i  possedute  sono  illustrati  nella  \u201cRelazio<span class=\"_ _1\"></span>ne  sulla<span class=\"_ _26a\"> </span>remunera<span class=\"ff5\">zione\u201d, <span class=\"_ _f7\"> </span>pred<span class=\"_ _1\"></span>isposta <span class=\"_ _f7\"> </span>ex <span class=\"_ _f7\"> </span>art. <span class=\"_ _f7\"> </span>123</span>-<span class=\"ff5\">t<span class=\"_ _1\"></span>er, <span class=\"_ _f7\"> </span>D.Lgs <span class=\"_ _f7\"> </span>58/98 <span class=\"_ _f7\"> </span>che <span class=\"_ _f7\"> </span>viene<span class=\"_ _1\"></span> <span class=\"_ _f7\"> </span>sottoposta <span class=\"_ _f7\"> </span>all\u2019appr<span class=\"_ _1\"></span>ovazione<span class=\"_ _26a\"> </span></span>dell\u2019assemblea <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>dispon<span class=\"_ _1\"></span>ibile <span class=\"_ _1\"></span>sul <span class=\"_ _1\"></span>sit<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>aziendal<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>http://www.e<span class=\"_ _1\"></span>makgroup.it, <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ella <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ezione <span class=\"_ _1\"></span>\u201cInvestor <span class=\"_ _8\"></span>Relations<span class=\"_ _26a\"> </span>&gt; Corporate Governa<span class=\"_ _1\"></span>nce &gt; Relaz<span class=\"_ _1\"></span>ioni sulla Remun<span class=\"_ _1\"></span>erazione\u201d.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>***********<span class=\"_ _26a\"> </span>Nell\u2019esercizio <span class=\"_ _20\"></span>non <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>intercors<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>altre <span class=\"_ _20\"></span>sign<span class=\"_ _1\"></span>ificative <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>elazioni <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>parti <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>orrelate<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>es<span class=\"_ _1\"></span>terne <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>Gr<span class=\"_ _1\"></span>uppo, <span class=\"_ _20\"></span>oltre <span class=\"_ _20\"></span>a<span class=\"_ _26a\"> </span>quelle descritte nelle prese<span class=\"_ _1\"></span>nti note.<span class=\"_ _1\"></span> 41. Erogazioni ricevut<span class=\"_ _1\"></span>e: obbligh<span class=\"_ _1\"></span>i di trasparenza in <span class=\"_ _1\"></span>materia di erogaz<span class=\"_ _1\"></span>ioni pubbliche Legge<span class=\"_ _1\"></span> n<span class=\"_ _1\"></span>.12<span class=\"_ _1\"></span>4/2017<span class=\"ff7\"> </span>In ottempera<span class=\"_ _1\"></span>nza agl<span class=\"_ _1\"></span>i obblig<span class=\"_ _1\"></span>hi di <span class=\"_ _1\"></span>trasparenza <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>materia <span class=\"_ _1\"></span>di ero<span class=\"_ _1\"></span>gazioni p<span class=\"_ _1\"></span>ubbliche pr<span class=\"_ _1\"></span>eviste <span class=\"_ _1\"></span>dall\u2019articolo <span class=\"_ _1\"></span>1, c<span class=\"_ _1\"></span>ommi<span class=\"_ _26a\"> </span>125<span class=\"ls1\">-<span class=\"ff5\">129 della l<span class=\"_ _3\"></span>egge n. <span class=\"_ _3\"></span>124/2017<span class=\"_ _1\"></span>, <span class=\"_ _3\"></span>succes<span class=\"_ _1\"></span>sivamente integrata dal <span class=\"_ _2\"></span>decret<span class=\"_ _1\"></span>o legge <span class=\"_ _3\"></span>\u201csicurezz<span class=\"_ _1\"></span>a\u201d (n. <span class=\"_ _2\"></span>113/201<span class=\"_ _1\"></span>8) e <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span></span></span>decreto <span class=\"_ _11\"></span>legge <span class=\"_ _11\"></span>\u201cSemplificazi<span class=\"_ _1\"></span>one\u201d <span class=\"_ _11\"></span>(n.<span class=\"ff2\"> <span class=\"_ _11\"></span>1<span class=\"_ _1\"></span>35/2018) <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>riportano <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>seguito <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>informazi<span class=\"_ _1\"></span>oni <span class=\"_ _11\"></span>relative <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>erogazion<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span>pubbliche ricevute d<span class=\"_ _1\"></span>al Gruppo nel cors<span class=\"_ _1\"></span>o dell\u2019esercizio 2022<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Si precisa <span class=\"_ _3\"></span>che \u00e8 <span class=\"_ _3\"></span>stato utilizzato un <span class=\"_ _3\"></span>criterio di rendicontazione per <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>assa, riportando le <span class=\"_ _3\"></span>erogazioni incassate nel<span class=\"_ _26a\"> </span>corso del periodo in<span class=\"_ _1\"></span> oggetto.<span class=\"_ _1\"></span> Non sono state prese <span class=\"_ _1\"></span>in considerazione ero<span class=\"_ _1\"></span>gazioni ricevute a front<span class=\"_ _1\"></span>e di corrispetti<span class=\"_ _1\"></span>vi per forniture e servizi<span class=\"_ _1\"></span> resi.<span class=\"_ _8\"></span> 42. Eventi successivi<span class=\"_ _1\"></span> Per la descrizione de<span class=\"_ _1\"></span>gli eventi successivi si r<span class=\"_ _1\"></span>imanda alla Not<span class=\"_ _1\"></span>a 15 della <span class=\"_ _1\"></span>Re<span class=\"_ _1\"></span>lazione sulla ges<span class=\"_ _1\"></span>tione.<span class=\"_ _26a\"> </span>Dati <span class=\"_ _3\"></span>in mi<span class=\"_ _3\"></span>gli<span class=\"_ _3\"></span>aia di <span class=\"_ _3\"></span>Euro<span class=\"_ _26a\"> </span>Sogge<span class=\"_ _1\"></span>tto e<span class=\"_ _1\"></span>roga<span class=\"_ _1\"></span>nte<span class=\"_ _db\"> </span>Des<span class=\"_ _3\"></span>crizi<span class=\"_ _1\"></span>one<span class=\"_ _1d7\"> </span>E<span class=\"_ _3\"></span>ma<span class=\"_ _8\"></span>k S.<span class=\"_ _1\"></span>p.A.<span class=\"_ _ff\"> </span>Tecom<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>c S.<span class=\"_ _1\"></span>r.l<span class=\"_ _1\"></span>.<span class=\"_ _26\"> </span>Sa<span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>rt S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _90\"> </span>Come<span class=\"_ _1\"></span>t S.<span class=\"_ _1\"></span>p.<span class=\"_ _1\"></span>A.<span class=\"_ _1f\"> </span>La<span class=\"_ _1\"></span>vorw<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>h <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.<span class=\"_ _1\"></span>A.<span class=\"_ _26\"> </span>P<span class=\"_ _1\"></span>.T.<span class=\"_ _1\"></span>C. S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _8e\"> </span>Pol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _16a\"> </span>Tota<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>Minist<span class=\"_ _1\"></span>ero de<span class=\"_ _3\"></span>llo S<span class=\"_ _1\"></span>v<span class=\"_ _2\"></span>iluppo<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Ec<span class=\"_ _1\"></span>ono<span class=\"_ _3\"></span>mic<span class=\"_ _1\"></span>o<span class=\"_ _0\"> </span>Con<span class=\"_ _3\"></span>tributo a fo<span class=\"_ _3\"></span>ndo pe<span class=\"_ _3\"></span>rduto<span class=\"_ _6a\"> </span><span class=\"ls6e\">316<span class=\"_ _1d8\"> </span>316<span class=\"_ _26a\"> </span></span>MEF<span class=\"_ _b2\"> </span>Cr<span class=\"_ _3\"></span>edito d'imp<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>a ex <span class=\"_ _1\"></span>L. <span class=\"_ _1\"></span>160<span class=\"_ _3\"></span>/2019<span class=\"_ _c7\"> </span><span class=\"ls6e\">235<span class=\"_ _1bb\"> </span>33<span class=\"_ _1d9\"> </span></span>6<span class=\"_ _43\"> </span><span class=\"ls6e\">274<span class=\"_ _26a\"> </span></span>MEF<span class=\"_ _26a\"> </span>Cr<span class=\"_ _3\"></span>edito d'impo<span class=\"_ _3\"></span>st<span class=\"_ _1\"></span>a \"<span class=\"_ _1\"></span>gas\" <span class=\"_ _1\"></span>ed \"ener<span class=\"_ _3\"></span>gia\" (L.<span class=\"_ _26a\"> </span>175<span class=\"_ _3\"></span>/2022 e L. 142/202<span class=\"_ _3\"></span>2)<span class=\"_ _26a\"> </span>86<span class=\"_ _128\"> </span>10<span class=\"_ _173\"> </span>23<span class=\"_ _a5\"> </span>13<span class=\"_ _16b\"> </span><span class=\"ls1\">4<span class=\"_ _78\"> </span></span>136<span class=\"_ _26a\"> </span>MEF<span class=\"_ _b2\"> </span>Cr<span class=\"_ _3\"></span>edito d'imp<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>a ex <span class=\"_ _1\"></span>L. <span class=\"_ _1\"></span>178<span class=\"_ _3\"></span>/2020<span class=\"_ _1bb\"> </span><span class=\"ls6e\">42<span class=\"_ _1da\"> </span>109<span class=\"_ _1bf\"> </span>151<span class=\"_ _26a\"> </span></span>Fond<span class=\"_ _3\"></span>impresa<span class=\"_ _67\"> </span>C<span class=\"_ _3\"></span>ontrib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>per<span class=\"_ _3\"></span> piani for<span class=\"_ _3\"></span>mativ<span class=\"_ _2\"></span>i<span class=\"_ _7a\"> </span><span class=\"ls6e\">19<span class=\"_ _1db\"> </span>19<span class=\"_ _26a\"> </span></span>Fond<span class=\"_ _3\"></span>irigen<span class=\"_ _3\"></span>ti<span class=\"_ _83\"> </span>C<span class=\"_ _3\"></span>ontrib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>per<span class=\"_ _3\"></span> piani for<span class=\"_ _3\"></span>mativ<span class=\"_ _2\"></span>i<span class=\"_ _7a\"> </span><span class=\"ls6e\">27<span class=\"_ _128\"> </span>16<span class=\"_ _173\"> </span>12<span class=\"_ _18d\"> </span>55<span class=\"_ _26a\"> </span></span>MEF<span class=\"_ _b2\"> </span>Cr<span class=\"_ _3\"></span>edito d'imp<span class=\"_ _3\"></span>ost<span class=\"_ _1\"></span>a ex <span class=\"_ _1\"></span>D.L. <span class=\"_ _1\"></span>34/202<span class=\"_ _3\"></span>0 <span class=\"_ _c3\"> </span>4<span class=\"_ _36\"> </span>4<span class=\"_ _26a\"> </span>MEF<span class=\"_ _b2\"> </span>Sgrav<span class=\"_ _9\"></span>i <span class=\"_ _1\"></span>contributiv<span class=\"_ _2\"></span>i <span class=\"_ _1\"></span>per<span class=\"_ _3\"></span> as<span class=\"_ _1\"></span>sunzioni<span class=\"_ _74\"> </span>7<span class=\"_ _47\"> </span>7<span class=\"_ _26a\"> </span>MEF<span class=\"_ _26a\"> </span>Cr<span class=\"_ _3\"></span>edito d'impo<span class=\"_ _3\"></span>st<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>ugli inv<span class=\"_ _2\"></span>est<span class=\"_ _1\"></span>imenti<span class=\"_ _26a\"> </span>pub<span class=\"_ _3\"></span>blici<span class=\"_ _1\"></span>tari incrementali<span class=\"_ _26a\"> </span>2<span class=\"_ _1d2\"> </span>2<span class=\"_ _26a\"> </span>Ente B<span class=\"_ _1\"></span>ilaterale Co<span class=\"_ _3\"></span>mmercio Regg<span class=\"_ _3\"></span>io<span class=\"_ _26a\"> </span>Emili<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>ntributo COVI<span class=\"_ _3\"></span>D-<span class=\"_ _3\"></span>19<span class=\"_ _197\"> </span><span class=\"ls6e\">11<span class=\"_ _125\"> </span>11<span class=\"_ _26a\"> </span></span>Total<span class=\"_ _1\"></span>e<span class=\"_ _185\"> </span><span class=\"ls6e\">729<span class=\"_ _1bb\"> </span>59<span class=\"_ _112\"> </span>13<span class=\"_ _10c\"> </span>35<span class=\"_ _89\"> </span>135<span class=\"_ _1d0\"> </span></span>4<span class=\"_ _bd\"> </span><span class=\"ls6f\"> -<span class=\"_ _142\"> </span><span class=\"ls6e\">975</span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNotesAndOtherExplanatoryInformationExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-315": {
   "value": "Yama  S.p.A.",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-7": {
   "value": "Yama  S.p.A.",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-318": {
   "value": "2. Sintesi dei principali p<span class=\"_ _1\"></span>rincipi contabili<span class=\"_ _8\"></span> I principali principi contabili utilizzati <span class=\"_ _1\"></span>nella redazione del pres<span class=\"_ _1\"></span>ente bilancio consolidato sono di seg<span class=\"_ _1\"></span>uito illustrati<span class=\"_ _26a\"> </span>e, se non diversame<span class=\"_ _1\"></span>nte indicato, son<span class=\"_ _1\"></span>o stati uniformem<span class=\"_ _1\"></span>ente adottati per tutt<span class=\"_ _1\"></span>i gli esercizi presen<span class=\"_ _1\"></span>tati.<span class=\"_ _8\"></span> 2.1 Criteri generali di<span class=\"_ _1\"></span> redazione<span class=\"_ _1\"></span><span class=\"ff7\"> </span>Il <span class=\"_ _11\"></span>bilancio <span class=\"_ _20\"></span>consolidato <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>mak <span class=\"_ _11\"></span>S.p.<span class=\"_ _1\"></span>A. <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>sue <span class=\"_ _11\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _11\"></span>(d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>seguit<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>\u201cGruppo <span class=\"_ _11\"></span>E<span class=\"_ _1\"></span>mak\u201d <span class=\"_ _11\"></span>o <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>\u201cGr<span class=\"_ _1\"></span>uppo\u201d) <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>stato<span class=\"_ _26a\"> </span>predisposto <span class=\"_ _27\"> </span>n<span class=\"_ _1\"></span>el <span class=\"_ _27\"> </span>ri<span class=\"ff5\">s<span class=\"_ _1\"></span>petto <span class=\"_ _12\"> </span>degli <span class=\"_ _27\"> </span>IFR<span class=\"_ _1\"></span>S <span class=\"_ _27\"> </span>emes<span class=\"_ _1\"></span>si <span class=\"_ _27\"> </span>dall\u2019<span class=\"_ _1\"></span><span class=\"ff7\">Int<span class=\"_ _1\"></span>ernational <span class=\"_ _12\"> </span>Accounting <span class=\"_ _27\"> </span>St<span class=\"_ _1\"></span>andard <span class=\"_ _12\"> </span>Board</span></span> <span class=\"_ _12\"> </span>e <span class=\"_ _27\"> </span>omo<span class=\"_ _1\"></span>logati<span class=\"_ _26a\"> </span>dall\u2019Unione <span class=\"_ _20\"> </span>Europ<span class=\"_ _1\"></span>ea <span class=\"_ _20\"> </span>al <span class=\"_ _23\"> </span>momento <span class=\"_ _20\"> </span>del<span class=\"_ _1\"></span>la <span class=\"_ _20\"></span>sua <span class=\"_ _20\"> </span>pred<span class=\"_ _1\"></span>isposizione. <span class=\"_ _23\"> </span>Per <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>intend<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>anche <span class=\"_ _23\"> </span>gli <span class=\"_ _23\"> </span><span class=\"ff7\">Intern<span class=\"_ _1\"></span>ational<span class=\"_ _26a\"> </span></span>Accounting <span class=\"_ _11\"></span>St<span class=\"_ _1\"></span>andard<span class=\"ff2\"> <span class=\"_ _20\"></span>(IAS) <span class=\"_ _20\"></span>tuttora <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>vigore, <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>onch\u00e9 <span class=\"_ _11\"></span>t<span class=\"_ _1\"></span>utti <span class=\"_ _11\"></span>i <span class=\"_ _20\"></span>documenti <span class=\"_ _23\"></span><span class=\"ff5\">interpretativi <span class=\"_ _20\"></span>emessi <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>all\u2019</span></span>Internati<span class=\"_ _1\"></span>onal<span class=\"_ _26a\"> </span>Financial <span class=\"_ _8\"></span>Report<span class=\"_ _1\"></span>ing <span class=\"_ _8\"></span>Interpretation <span class=\"_ _8\"></span>Co<span class=\"_ _1\"></span>mmittee<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _8\"></span>(IFRIC),<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>precedente<span class=\"_ _1\"></span>mente <span class=\"_ _8\"></span>denom<span class=\"_ _1\"></span>inate <span class=\"_ _11\"></span></span>Standing <span class=\"_ _8\"></span>Interpret<span class=\"_ _1\"></span>ation<span class=\"_ _26a\"> </span>Committee<span class=\"ff2\"> (SIC).<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _8\"></span>bilancio <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>stato <span class=\"_ _11\"></span>predisposto <span class=\"_ _8\"></span>app<span class=\"_ _1\"></span>licando <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>metodo <span class=\"_ _11\"></span>del <span class=\"_ _8\"></span>costo <span class=\"_ _11\"></span>storico, <span class=\"_ _8\"></span>modific<span class=\"_ _8\"></span>ato <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>at<span class=\"_ _1\"></span>tivit\u00e0 <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> passivit\u00e0 finanziarie (<span class=\"_ _1\"></span>inclusi gli strume<span class=\"_ _1\"></span>nti derivati) valutate a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span><span class=\"ff7\">fair value</span><span class=\"ls5\">. <span class=\"_ _1\"></span></span> Gli <span class=\"_ _8\"></span>A<span class=\"_ _1\"></span>mministratori <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _11\"></span>agli <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span>lementi <span class=\"_ _11\"></span>disponibili, <span class=\"_ _11\"></span>ovvero <span class=\"_ _11\"></span>informazioni <span class=\"_ _11\"></span>disponibili <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>ll\u2019attuale <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>preve<span class=\"_ _1\"></span>dibile<span class=\"_ _26a\"> </span>situazione <span class=\"_ _8\"></span>reddituale<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>finanziaria, <span class=\"_ _8\"></span>ha<span class=\"_ _1\"></span>nno <span class=\"_ _8\"></span>redatto <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _8\"></span>secondo <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>presu<span class=\"_ _1\"></span>pposto <span class=\"_ _11\"></span>della <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>ntinuit\u00e0 <span class=\"_ _8\"></span>azienda<span class=\"_ _1\"></span>le.<span class=\"_ _26a\"> </span>In <span class=\"_ _23\"> </span>b<span class=\"_ _1\"></span>ase <span class=\"_ _21\"> </span>agli <span class=\"_ _21\"> </span>element<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>nostr<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>conoscenza<span class=\"_ _1\"></span>, <span class=\"_ _21\"> </span>ovvero <span class=\"_ _21\"> </span>lo <span class=\"_ _21\"> </span>stato <span class=\"_ _21\"> </span>attu<span class=\"_ _1\"></span>ale <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>le <span class=\"_ _21\"> </span>previs<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"> </span>fut<span class=\"_ _1\"></span>ure <span class=\"_ _21\"> </span>delle <span class=\"_ _21\"> </span>princ<span class=\"_ _1\"></span>ipali<span class=\"_ _26a\"> </span>grandezze <span class=\"_ _23\"> </span>econom<span class=\"_ _1\"></span>iche, <span class=\"_ _23\"> </span>patrim<span class=\"_ _1\"></span>oniali <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>inanziarie <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Gr<span class=\"_ _1\"></span>uppo, <span class=\"_ _23\"> </span>nonch\u00e9 <span class=\"_ _21\"> </span>l\u2019analisi <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>rischi <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Gr<span class=\"_ _1\"></span>uppo, <span class=\"_ _23\"> </span>non<span class=\"_ _26a\"> </span>sussistono <span class=\"_ _90\"> </span>i<span class=\"_ _1\"></span>ncertezze <span class=\"_ _26\"> </span>significative <span class=\"_ _26\"> </span>che <span class=\"_ _26\"> </span>possano <span class=\"_ _90\"> </span>pre<span class=\"_ _1\"></span>giudicare <span class=\"_ _26\"> </span>la  co<span class=\"_ _1\"></span>ntinuit<span class=\"_ _1\"></span><span class=\"ff5\">\u00e0 <span class=\"_ _26\"> </span>dell\u2019operativit<span class=\"_ _1\"></span>\u00e0  az<span class=\"_ _1\"></span>iendale <span class=\"_ _26\"> </span>nel<span class=\"_ _26a\"> </span></span>prevedibile futuro.   <span class=\"_ _1\"></span> In <span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>cordo <span class=\"_ _3\"></span>con quanto <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>isto <span class=\"_ _3\"></span>dal <span class=\"_ _3\"></span>principio contabile <span class=\"_ _3\"></span>internazionale <span class=\"_ _3\"></span>IAS 1 <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>bilanci<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>consolidato <span class=\"_ _3\"></span>risulta essere<span class=\"_ _26a\"> </span>costituito dai seguenti pros<span class=\"_ _1\"></span>petti e docum<span class=\"_ _1\"></span>enti:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto  della <span class=\"_ _1e\"> </span>situazione<span class=\"_ _1\"></span>  pa<span class=\"_ _3\"></span>trimonia<span class=\"_ _1\"></span>le <span class=\"_ _1e\"> </span>finanz<span class=\"_ _1\"></span>iaria <span class=\"_ _1e\"> </span>consol<span class=\"_ _1\"></span>idata: <span class=\"_ _1e\"> </span>cl<span class=\"_ _1\"></span>assificazione  de<span class=\"_ _3\"></span>lle <span class=\"_ _1f\"> </span>poste <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _1\"></span> </span>correnti e non corrent<span class=\"_ _1\"></span>i e passivit\u00e0 corrent<span class=\"_ _1\"></span>i e non correnti;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto <span class=\"_ _16a\"> </span>del <span class=\"_ _100\"> </span>conto <span class=\"_ _100\"> </span>economico <span class=\"_ _100\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _16a\"> </span>e <span class=\"_ _53\"> </span>d<span class=\"_ _1\"></span>el <span class=\"_ _53\"> </span>c<span class=\"_ _1\"></span>onto <span class=\"_ _100\"> </span>econ<span class=\"_ _1\"></span>omico <span class=\"_ _100\"> </span>consolidato <span class=\"_ _100\"> </span>c<span class=\"_ _1\"></span>omplessivo:<span class=\"_ _1\"></span> </span>classificazione delle <span class=\"_ _2\"></span>poste basata <span class=\"_ _3\"></span>sulla <span class=\"_ _3\"></span>loro natura <span class=\"_ _2\"></span>e <span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>appresentazion<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>risultato <span class=\"_ _3\"></span>operat<span class=\"_ _1\"></span>ivo <span class=\"_ _3\"></span>che <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span>include gli effetti del<span class=\"_ _1\"></span>le differenze cambi<span class=\"_ _1\"></span>o come da polic<span class=\"_ _1\"></span>y contabile storicament<span class=\"_ _1\"></span>e adottata da<span class=\"_ _1\"></span>l Gruppo;<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _11\"></span>Rendicont<span class=\"_ _1\"></span>o finanziario con<span class=\"_ _1\"></span>solidato: presentazione <span class=\"_ _1\"></span>dei flussi finanz<span class=\"_ _1\"></span>iari s<span class=\"_ _1\"></span>econdo i<span class=\"_ _1\"></span>l metodo indiretto;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>Prospetto d<span class=\"_ _1\"></span>elle variazioni d<span class=\"_ _1\"></span>elle poste di Patri<span class=\"_ _1\"></span>monio Netto Cons<span class=\"_ _1\"></span>olidato;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _11\"></span>Note illustrat<span class=\"_ _1\"></span>ive al bilancio <span class=\"_ _1\"></span>consolidato.<span class=\"_ _1\"></span> </span>La <span class=\"_ _3\"></span>redazione<span class=\"_ _1\"></span> del <span class=\"_ _3\"></span>bilancio in <span class=\"_ _3\"></span>conformit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>agli IFRS richiede l<span class=\"_ _3\"></span>\u2019uso di <span class=\"_ _3\"></span>stime<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>contabil<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>da parte <span class=\"_ _3\"></span>degli<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Amministra<span class=\"_ _1\"></span>tori<span class=\"_ _8\"></span><span class=\"ff2 ls2a\">.<span class=\"_ _26a\"> </span></span>Le <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>omportano <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>elevato <span class=\"_ _11\"></span>grado <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>giudizio <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>omplessit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>cu<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>potesi <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>stime<span class=\"_ _26a\"> </span>possono avere un impa<span class=\"_ _1\"></span>tto significativo sul<span class=\"_ _1\"></span> bilancio consolidato sono<span class=\"_ _1\"></span> illustrate nella N<span class=\"_ _1\"></span>ota 5.<span class=\"_ _8\"></span> Con <span class=\"_ _1\"></span>riferiment<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>D<span class=\"_ _1\"></span>elibera <span class=\"_ _1\"></span>Cons<span class=\"_ _1\"></span>ob <span class=\"_ _1\"></span>n. <span class=\"_ _8\"></span>15519 <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>7 <span class=\"_ _8\"></span>luglio <span class=\"_ _1\"></span>200<span class=\"_ _1\"></span>6<span class=\"fs2\"> <span class=\"_ _1\"></span></span>in <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>erito <span class=\"_ _1\"></span>agli <span class=\"_ _8\"></span>schemi <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>bilancio, <span class=\"_ _8\"></span>si <span class=\"_ _1\"></span>precisa<span class=\"_ _1\"></span> che i <span class=\"_ _8\"></span>prospetti <span class=\"_ _1\"></span>di c<span class=\"_ _1\"></span>onto <span class=\"_ _1\"></span>econom<span class=\"_ _1\"></span>ico e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>situazione <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>atrimoniale<span class=\"_ _8\"></span>-finanziaria <span class=\"_ _1\"></span>inc<span class=\"_ _1\"></span>ludono <span class=\"_ _1\"></span>evidenza <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>rapport<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>intervenuti con parti corre<span class=\"_ _1\"></span>late.<span class=\"_ _1\"></span> 2.2 Principi di con<span class=\"_ _1\"></span>solidamento<span class=\"_ _1\"></span> Imprese controllate<span class=\"_ _1\"></span> Il bilanc<span class=\"_ _1\"></span>io co<span class=\"_ _1\"></span>nsolidato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ak incl<span class=\"_ _1\"></span>ude <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Emak <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>mprese <span class=\"_ _1\"></span>italiane <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>traniere<span class=\"_ _26a\"> </span>sulle <span class=\"_ _2\"></span>quali <span class=\"_ _2\"></span>Emak S<span class=\"_ _3\"></span>.p.A. <span class=\"_ _2\"></span>eser<span class=\"_ _1\"></span>cita <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>control<span class=\"_ _1\"></span>lo, <span class=\"_ _2\"></span>direttament<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>o <span class=\"_ _2\"></span>indiretta<span class=\"_ _1\"></span>mente, <span class=\"_ _2\"></span>determ<span class=\"_ _1\"></span>inandone <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>scelte <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _26a\"> </span>e gestionali ed ottene<span class=\"_ _1\"></span>ndone<span class=\"_ _1\"></span> <span class=\"ff5\">i relativi benefici, sec<span class=\"_ _1\"></span>ondo i criteri stabiliti d<span class=\"_ _1\"></span>all\u2019IFRS 10.<span class=\"_ _8\"></span></span> L\u2019acquisizione <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>imprese <span class=\"_ _12\"> </span>controllate <span class=\"_ _12\"> </span>viene <span class=\"_ _12\"> </span>rilevata <span class=\"_ _12\"> </span>utilizzando <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>metodo <span class=\"_ _12\"> </span>dell\u2019acqu<span class=\"_ _1\"></span>isto <span class=\"_ _27\"> </span>(<span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Acquisition<span class=\"_ _1\"></span> </span>method<span class=\"ff5\">\u201d), <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>atta <span class=\"_ _1\"></span>eccezio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizioni <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>alizzate <span class=\"_ _8\"></span>nell\u2019esercizio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>011 <span class=\"_ _1\"></span>con<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>c<span class=\"_ _8\"></span><span class=\"ff2\">ontrollante <span class=\"_ _8\"></span>Yama <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A. <span class=\"_ _1\"></span>Il<span class=\"_ _26a\"> </span></span></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>corrisponde <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>acquistat<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _26a\"> </span>emessi <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _20\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>essere <span class=\"_ _23\"></span>alla <span class=\"_ _20\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _20\"></span>senza <span class=\"_ _23\"></span>considerare <span class=\"_ _23\"></span>gli <span class=\"_ _20\"></span>interessi <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>minoranza.<span class=\"_ _1\"></span> L\u2019ecce<span class=\"ff2\">denza <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>costo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>acquisizione <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>al <span class=\"_ _23\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>identificabi<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>nette <span class=\"_ _20\"></span>acquisite, <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span></span>quota di pertinenza d<span class=\"_ _1\"></span>el Gruppo, \u00e8 rilevat<span class=\"_ _1\"></span>a come avviamento.<span class=\"_ _8\"></span> Se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>costo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>acquisizione <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>minore, <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>differenza <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>levata <span class=\"_ _3\"></span>direttamente <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>conto <span class=\"_ _3\"></span>ec<span class=\"_ _1\"></span>onomico <span class=\"_ _3\"></span>(Nota <span class=\"_ _3\"></span>2.7). <span class=\"_ _2\"></span>I <span class=\"_ _3\"></span>bilanci<span class=\"_ _26a\"> </span>delle <span class=\"_ _1\"></span>imprese <span class=\"_ _1\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _8\"></span>a partire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>in c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>assume <span class=\"_ _8\"></span>il contr<span class=\"_ _1\"></span>ollo<span class=\"_ _26a\"> </span>fino al moment<span class=\"_ _1\"></span>o in cui t<span class=\"_ _1\"></span>ale controllo<span class=\"_ _1\"></span> cessa di es<span class=\"_ _1\"></span>istere. Le <span class=\"_ _1\"></span>interessenze di<span class=\"_ _1\"></span> pertinenza di<span class=\"_ _1\"></span> terzi e <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i u<span class=\"_ _8\"></span>tile<span class=\"_ _26a\"> </span>o <span class=\"_ _23\"> </span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>esercizio<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle <span class=\"_ _21\"> </span>controllate <span class=\"_ _21\"> </span>attribuib<span class=\"_ _1\"></span>ili <span class=\"_ _23\"> </span>ai <span class=\"_ _21\"> </span>terz<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>sono <span class=\"_ _21\"> </span>identificate<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>ella <span class=\"_ _21\"> </span>situazione<span class=\"_ _26a\"> </span>patrimoniale <span class=\"ff5\">\u2013</span> fi<span class=\"_ _1\"></span>nanziaria e nel conto <span class=\"_ _1\"></span>economico conso<span class=\"_ _1\"></span>lidati.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Le imprese controllate <span class=\"_ _3\"></span>sono consolidate col metodo integrale dalla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ata in cui il Gruppo acquisisce il <span class=\"_ _3\"></span>controllo.<span class=\"_ _26a\"> </span>Nelle <span class=\"_ _12\"> </span>aggregazioni <span class=\"_ _27\"> </span>az<span class=\"_ _1\"></span>iendali <span class=\"_ _12\"> </span>realizzata <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>fasi, <span class=\"_ _12\"> </span>con <span class=\"_ _12\"> </span>presenza <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>pregre<span class=\"_ _1\"></span>ssi <span class=\"_ _27\"> </span>legam<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>partecipativi <span class=\"_ _27\"> </span>di<span class=\"_ _26a\"> </span>collegamento, <span class=\"_ _1\"></span>il conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _1\"></span>integrale <span class=\"_ _1\"></span>avviene <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data d<span class=\"_ _1\"></span>i acquis<span class=\"_ _1\"></span>izione <span class=\"_ _1\"></span>del c<span class=\"_ _1\"></span>ontrollo e <span class=\"_ _1\"></span>a m<span class=\"_ _1\"></span>edesima <span class=\"_ _1\"></span>data<span class=\"_ _26a\"> </span>avviene la rimisuraz<span class=\"_ _1\"></span>ione al fair value <span class=\"_ _1\"></span>della partecipazio<span class=\"_ _1\"></span>ne precedentement<span class=\"_ _1\"></span>e detenuta.<span class=\"_ _8\"></span> Si precisa che:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>la societ\u00e0 controllata Valley LLP, partecipata da <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> Usa Inc con una quota <span class=\"_ _3\"></span>pari al 94%, \u00e8 <span class=\"_ _3\"></span>consolidata<span class=\"_ _26a\"> </span></span>al <span class=\"_ _1\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>virt\u00f9<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>all <span class=\"_ _11\"></span>Option <span class=\"_ _1\"></span>Agree<span class=\"_ _1\"></span>ment</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>ola <span class=\"_ _1\"></span>l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>restante <span class=\"_ _8\"></span>6% <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>propr<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>una societ\u00e0 riconduc<span class=\"_ _1\"></span>ibile all\u2019attuale <span class=\"_ _1\"></span><span class=\"ff7\">CEO<span class=\"ff2\"> della c<span class=\"_ _1\"></span>ontrollata;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Markusson <span class=\"_ _1e\"> </span>Professional <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>rinders <span class=\"_ _21\"> </span>AB, <span class=\"_ _1e\"> </span>partecipata <span class=\"_ _21\"> </span>da <span class=\"_ _21\"> </span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _21\"> </span>S.r.l., <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>una <span class=\"_ _21\"> </span>quot<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>51%,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8<span class=\"_ _26a\"> </span></span>consolidata al 100% <span class=\"_ _1\"></span>in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreem<span class=\"_ _1\"></span>ent</span>\u201d che<span class=\"_ _1\"></span> regola l\u2019acquisto <span class=\"_ _1\"></span>del restante 49%;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Agres Sistemas <span class=\"_ _3\"></span>Eletr<span class=\"fs4\">\u00f4</span>nicos<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>S.A., pa<span class=\"_ _3\"></span>rtecipat<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Tecomec S.r.l., <span class=\"_ _3\"></span>con una <span class=\"_ _2\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>pari al<span class=\"_ _3\"></span> 91%, <span class=\"_ _2\"></span>\u00e8 consolidata<span class=\"_ _26a\"> </span></span>al 100% in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreemen<span class=\"_ _1\"></span>t</span>\u201d che regol<span class=\"_ _1\"></span>a l\u2019acquisto del rest<span class=\"_ _1\"></span>ante 9%;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">Poli <span class=\"_ _1\"></span>S.r.<span class=\"_ _1\"></span>l., <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ecipata <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Comet <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u201980%, <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidata <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>virt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>\u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put<span class=\"_ _26a\"> </span></span></span></span>and Call Option A<span class=\"_ _1\"></span>greement<span class=\"ff5\">\u201d<span class=\"_ _1\"></span> che regola l\u2019acquisto d<span class=\"_ _1\"></span>el restante 20%.<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span>Transazioni infragrupp<span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>ansazioni, i <span class=\"_ _2\"></span>sal<span class=\"_ _1\"></span>di <span class=\"_ _3\"></span>e gli <span class=\"_ _2\"></span>utili non <span class=\"_ _3\"></span>realizzati <span class=\"_ _3\"></span>in operazioni <span class=\"_ _3\"></span>tra societ\u00e0 <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>Gruppo sono <span class=\"_ _3\"></span>eliminati. Le <span class=\"_ _2\"></span>perdite<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span>realizzate sono eliminate <span class=\"_ _3\"></span>allo stesso modo, a <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>no che <span class=\"_ _3\"></span>l\u2019opera<span class=\"_ _8\"></span>zione evidenzi una perdi<span class=\"_ _3\"></span>ta di valore dell\u2019attivit\u00e0<span class=\"_ _26a\"> </span>trasferita. <span class=\"_ _3\"></span>I <span class=\"_ _3\"></span>bilanci delle <span class=\"_ _3\"></span>imprese <span class=\"_ _3\"></span>incluse nell\u2019area <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>consolidam<span class=\"_ _1\"></span>ento <span class=\"_ _3\"></span>sono stati <span class=\"_ _2\"></span>opp<span class=\"_ _1\"></span>ortunamente modificati, <span class=\"_ _3\"></span>ove<span class=\"_ _26a\"> </span>necessario, per uniformar<span class=\"_ _1\"></span>li ai principi co<span class=\"_ _1\"></span>ntabili adottati <span class=\"_ _1\"></span>dal Gruppo.<span class=\"_ _1\"></span> Imprese collegate <span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>imprese <span class=\"_ _8\"></span>collegate <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cui <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>esercita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019influenza <span class=\"_ _8\"></span>notev<span class=\"_ _1\"></span>ole <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os\u00ec <span class=\"_ _8\"></span>come <span class=\"_ _8\"></span>definita <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>llo<span class=\"_ _26a\"> </span>IAS 28 <span class=\"ff5\">\u2013</span> <span class=\"_ _3\"></span><span class=\"ff7\">Partecipaz<span class=\"_ _1\"></span>ioni in collegate e j<span class=\"_ _3\"></span>oint venture<span class=\"_ _1\"></span><span class=\"ff2 ls5\">, ma non il controllo, sulle politiche finanziari<span class=\"_ _1\"></span>e ed operative.<span class=\"_ _26a\"> </span></span></span>Le <span class=\"_ _11\"></span>partecipazioni <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>societ<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _11\"></span>col<span class=\"_ _1\"></span>legate <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>contabiliz<span class=\"_ _1\"></span>zate <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>metodo <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>patrimonio <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>partire <span class=\"_ _11\"></span>dal<span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span>data in cui inizia l\u2019inf<span class=\"_ _1\"></span>luenza notevole fin<span class=\"_ _1\"></span>o al momento in c<span class=\"_ _1\"></span>ui la stessa cessa d<span class=\"_ _1\"></span>i esistere.<span class=\"_ _26a\"> </span><span class=\"_ _8\"></span><span class=\"ff2\"> </span>Area di consolidamen<span class=\"_ _1\"></span>to<span class=\"ff2\"> </span>L\u2019area di <span class=\"_ _3\"></span>consol<span class=\"_ _1\"></span>idamento al 31 di<span class=\"_ _3\"></span>cembre 2022 include le s<span class=\"_ _1\"></span><span class=\"ff2\">eguenti societ\u00e0 consolidate con il <span class=\"_ _3\"></span>metodo integrale:<span class=\"_ _26a\"> </span></span>(<span class=\"fs2\">1) Poli S.r.l. \u00e8 <span class=\"_ _3\"></span>consolidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option<span class=\"_ _3\"></span> Agreement\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019a<span class=\"_ _3\"></span>cquisto del res<span class=\"_ _3\"></span>tante 20%. <span class=\"ff2\"> </span></span></span></span></span>(2) <span class=\"_ _8\"></span>Markusson <span class=\"_ _8\"></span><span class=\"ff5\">Professiona<span class=\"_ _3\"></span>l <span class=\"_ _8\"></span>Grinders <span class=\"_ _8\"></span>AB <span class=\"_ _11\"></span>\u00e8<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>consolidata <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>irt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put <span class=\"_ _8\"></span>and <span class=\"_ _8\"></span>Call <span class=\"_ _8\"></span>Option <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>greement</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>regola <span class=\"_ _8\"></span>l\u2019acquisto<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _26a\"> </span></span>restante 49%.<span class=\"_ _3\"></span> (3) Valley Indu<span class=\"_ _3\"></span>stries LLP \u00e8 con<span class=\"_ _3\"></span>solidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option Agree<span class=\"_ _3\"></span>ment\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019<span class=\"_ _3\"></span>acquisto del res<span class=\"_ _3\"></span>tan<span class=\"ff2\">te 6%. </span></span></span></span>(4) Agre<span class=\"_ _3\"></span>s Sistemas E<span class=\"_ _3\"></span>letr\u00f4nicos S.<span class=\"_ _3\"></span>A. \u00e8 con<span class=\"_ _3\"></span>solidata al 10<span class=\"_ _3\"></span>0% in virt\u00f9 <span class=\"_ _3\"></span>del \u201c<span class=\"ff7\">Put and <span class=\"_ _3\"></span>Call Option <span class=\"_ _3\"></span>Agreement<span class=\"ff5\">\u201d <span class=\"_ _3\"></span>che regola <span class=\"_ _3\"></span>l\u2019acquisto del <span class=\"_ _3\"></span>restant<span class=\"_ _26a\"> </span></span></span>9%.<span class=\"_ _26a\"> </span>Rispetto <span class=\"_ _11\"></span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _11\"></span>2<span class=\"_ _1\"></span>021 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>entrata <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>far <span class=\"_ _20\"></span>parte <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ell\u2019area <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>consol<span class=\"_ _1\"></span>idamento <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _20\"></span>spagnola <span class=\"_ _11\"></span>Tre<span class=\"_ _1\"></span>bol<span class=\"_ _26a\"> </span>Maquinaria y <span class=\"_ _2\"></span>Su<span class=\"_ _1\"></span>ministros S.A. <span class=\"_ _3\"></span>(di <span class=\"_ _3\"></span>cui la <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ontrollata Sabart <span class=\"_ _3\"></span>S.r.l., in <span class=\"_ _2\"></span>data 13 <span class=\"_ _3\"></span>ottobre 2022, <span class=\"_ _3\"></span>ha acquisito <span class=\"_ _3\"></span>l\u201983,33%<span class=\"_ _26a\"> </span>ed \u00e8 inclusa nel bilanc<span class=\"_ _1\"></span>io consolida<span class=\"_ _1\"></span><span class=\"ff5\">to a partire da<span class=\"_ _1\"></span>ll\u2019ultimo trimestr<span class=\"_ _1\"></span>e 2022).<span class=\"_ _1\"></span></span> Nel <span class=\"_ _8\"></span>2021 <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>risultati <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>P<span class=\"_ _1\"></span>oli <span class=\"_ _8\"></span>S.r.l. <span class=\"_ _11\"></span>erano <span class=\"_ _8\"></span>stati <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _8\"></span>nell\u2019area <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>consolidamen<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>part<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>dall\u2019ultimo<span class=\"_ _1\"></span> trimestre dell\u2019esercizio<span class=\"_ _1\"></span>.<span class=\"ff2\"> </span>Denom<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _136\"> </span>S<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>de<span class=\"_ _26a\"> </span>Capi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> s<span class=\"_ _2\"></span>ocia<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>luta<span class=\"_ _26a\"> </span>Quota <span class=\"_ _1\"></span>%<span class=\"_ _2\"></span> cons<span class=\"_ _2\"></span>oli<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>gruppo<span class=\"_ _26a\"> </span>Pa<span class=\"_ _8\"></span>rtecipa<span class=\"_ _8\"></span>nte<span class=\"_ _26a\"> </span>%<span class=\"_ _9\"></span> <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span>cipa<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> s<span class=\"_ _2\"></span>ul <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>pi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>Capogrup<span class=\"_ _1\"></span>po<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _33\"> </span>B<span class=\"_ _1\"></span>agn<span class=\"_ _3\"></span>olo in P<span class=\"_ _1\"></span>iano<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- RE (I<span class=\"_ _3\"></span>)<span class=\"_ _10d\"> </span>42.623<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>057<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _26a\"> </span></span>Ita<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _b2\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _82\"> </span>2.<span class=\"_ _1\"></span>600<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _fb\"> </span>Ru<span class=\"_ _3\"></span>bier<span class=\"_ _3\"></span>a - RE <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _b5\"> </span>55.556<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ca\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>900<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _16c\"> </span>Re<span class=\"_ _3\"></span>ggio<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.580.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _12b\"> </span>Pegog<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>a - M<span class=\"_ _1\"></span>N (I<span class=\"_ _2\"></span>)<span class=\"_ _80\"> </span>3.<span class=\"_ _1\"></span>186<span class=\"_ _3\"></span>.161 <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _5f\"> </span></span>98,45<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>98,45<span class=\"_ _26a\"> </span>Poli <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(1)<span class=\"_ _cb\"> </span>Co<span class=\"_ _3\"></span>lorn<span class=\"_ _3\"></span>o - P<span class=\"_ _1\"></span>R (I<span class=\"_ _2\"></span>)<span class=\"_ _e2\"> </span>60.000<span class=\"_ _3\"></span> <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c7\"> </span></span>1<span class=\"_ _3\"></span>00,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _67\"> </span>80,00<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>uropa<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Suminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Es<span class=\"_ _1\"></span>pana<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>A<span class=\"_ _cf\"> </span>Getaf<span class=\"_ _2\"></span>e <span class=\"_ _1\"></span>- Madr<span class=\"_ _3\"></span>id (E)<span class=\"_ _6a\"> </span>270.459<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>90,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>90,00<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _dd\"> </span>Wolfisheim (F)<span class=\"_ _83\"> </span>320.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>C<span class=\"_ _3\"></span>omet <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>De<span class=\"_ _3\"></span>uts<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>hland<span class=\"_ _3\"></span> Gmbh<span class=\"_ _e8\"> </span>Fellbach <span class=\"_ _1\"></span>- Oef<span class=\"_ _2\"></span>fing<span class=\"_ _3\"></span>en (D<span class=\"_ _3\"></span>)<span class=\"_ _de\"> </span>553.218<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>ce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _16d\"> </span>Rixheim (F)<span class=\"_ _e2\"> </span>2.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>U.K.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>ntwoo<span class=\"_ _3\"></span>d (U<span class=\"_ _3\"></span>K<span class=\"_ _1\"></span>)<span class=\"_ _67\"> </span>342.090<span class=\"_ _54\"> </span>GBP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Epic<span class=\"_ _1\"></span>enter<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>LLC<span class=\"_ _c8\"> </span>Kiev<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>A)<span class=\"_ _3b\"> </span>19<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>026<span class=\"_ _3\"></span>.200<span class=\"_ _96\"> </span>UAH<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> F<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _dd\"> </span>A<span class=\"_ _1\"></span>rna<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> (F)<span class=\"_ _119\"> </span>300.00<span class=\"_ _3\"></span>0<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _4\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Vic<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>us-Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Sp. <span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span> o.<span class=\"_ _1\"></span>o.<span class=\"_ _16e\"> </span>Poz<span class=\"_ _1\"></span>nan<span class=\"_ _3\"></span> (PL)<span class=\"_ _b9\"> </span>10.168.000<span class=\"_ _97\"> </span>PLN<span class=\"_ _112\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.S<span class=\"_ _64\"> </span>La Cou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>euv<span class=\"_ _9\"></span>e (F)<span class=\"_ _dd\"> </span>3<span class=\"_ _3\"></span>7.000<span class=\"_ _3\"></span> <span class=\"_ _61\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>GB <span class=\"_ _1\"></span>Ltd<span class=\"_ _4f\"> </span>S<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span>Hele<span class=\"_ _3\"></span>ns <span class=\"_ _1\"></span>Mersey<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ide (U<span class=\"_ _3\"></span>K)<span class=\"_ _12f\"> </span>90<span class=\"_ _3\"></span>0.000<span class=\"_ _3\"></span> <span class=\"_ _10\"> </span>GBP<span class=\"_ _89\"> </span>9<span class=\"_ _3\"></span>8,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Pols<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>P.<span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span>OO<span class=\"_ _e1\"> </span>Bydgosz<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span> (PL)<span class=\"_ _16f\"> </span>163<span class=\"_ _3\"></span>.500 <span class=\"_ _24\"> </span>PLN<span class=\"_ _89\"> </span>98<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>45<span class=\"_ _28\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>or<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>.L.<span class=\"_ _4\"> </span>T<span class=\"_ _2\"></span>arra<span class=\"_ _3\"></span>gon<span class=\"_ _3\"></span>a (E)<span class=\"_ _170\"> </span>80.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Markuss<span class=\"_ _1\"></span>on P<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ss<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ona<span class=\"_ _3\"></span>l Grinde<span class=\"_ _3\"></span>rs <span class=\"_ _1\"></span>AB<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(2)<span class=\"_ _90\"> </span>Rimbo (SE)<span class=\"_ _b4\"> </span>50.000<span class=\"_ _3\"></span> <span class=\"_ _0\"> </span><span class=\"ls2b\">SEK<span class=\"_ _112\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>rebo<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Maqu<span class=\"_ _3\"></span>inar<span class=\"_ _3\"></span>ia y<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>uminist<span class=\"_ _1\"></span>ros <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A.<span class=\"_ _171\"> </span>A <span class=\"_ _1\"></span>Cor<span class=\"_ _3\"></span>u\u00f1<span class=\"_ _3\"></span>a (E)<span class=\"_ _172\"> </span>75.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>83,33<span class=\"_ _28\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _173\"> </span>83,33<span class=\"_ _26a\"> </span>Ame<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>ca<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa Inc<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>nsv<span class=\"_ _2\"></span>ill<span class=\"_ _1\"></span>e - Minnesota <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _b8\"> </span>231<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>090<span class=\"_ _171\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>51.77<span class=\"_ _3\"></span>7.052<span class=\"_ _174\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>99,63<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>0,<span class=\"_ _1\"></span>37<span class=\"_ _26a\"> </span>23.55<span class=\"_ _3\"></span>7.909<span class=\"_ _174\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>99,98<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,02<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C W<span class=\"_ _1\"></span>aterbla<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ing LLC<span class=\"_ _7a\"> </span>B<span class=\"_ _1\"></span>urn<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>v<span class=\"_ _2\"></span>ille - M<span class=\"_ _1\"></span>inne<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ota (USA)<span class=\"_ _b8\"> </span>285.000<span class=\"_ _175\"></span><span class=\"ls2c\">       <span class=\"ls1\"> <span class=\"_ _93\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _d2\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>1.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _3\"></span> <span class=\"_ _16c\"> </span>C<span class=\"_ _2\"></span>omet <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>97,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>3,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>outh A<span class=\"_ _1\"></span>merica S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16b\"> </span>Prov<span class=\"_ _9\"></span>iden<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ia - S<span class=\"_ _1\"></span>antiago (R<span class=\"_ _2\"></span>CH)<span class=\"_ _22\"> </span>4<span class=\"_ _3\"></span>44.850<span class=\"_ _3\"></span>.860<span class=\"_ _97\"> </span>CLP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>Valley<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>ries <span class=\"_ _1\"></span>LLP (3)<span class=\"_ _64\"> </span>Paynesv<span class=\"_ _2\"></span>ille <span class=\"_ _1\"></span>- Minnesota (USA)<span class=\"_ _d3\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _61\"> </span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _c5\"> </span>94<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>Speed<span class=\"_ _3\"></span> North Am<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a In<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>.<span class=\"_ _e3\"> </span>W<span class=\"_ _1\"></span>oost<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- Ohio (U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _f6\"> </span><span class=\"ls2d\">10<span class=\"_ _96\"> </span></span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Speed<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Fra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>19.29<span class=\"_ _3\"></span>1.875 <span class=\"_ _177\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _31\"> </span>9<span class=\"_ _3\"></span>9,99<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,01<span class=\"_ _26a\"> </span>Spraycom <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>omercio de pecas <span class=\"_ _1\"></span>para<span class=\"_ _3\"></span> agr<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>oltura<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>Ca<span class=\"_ _3\"></span>tanduv<span class=\"_ _c\"></span>a <span class=\"_ _1\"></span>(BR)<span class=\"_ _b9\"> </span>53<span class=\"_ _3\"></span>3.410<span class=\"_ _97\"> </span>BRL<span class=\"_ _89\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Agres S<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>emas <span class=\"_ _1\"></span>El<span class=\"_ _1\"></span>etr<span class=\"ff8\">\u00f4</span>nic<span class=\"_ _1\"></span>os <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.A<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> (4)<span class=\"_ _61\"> </span>U<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>a (BR)<span class=\"_ _16f\"> </span>1<span class=\"_ _3\"></span>.047.000<span class=\"_ _97\"> </span>BRL<span class=\"_ _112\"> </span>100,00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>91,00<span class=\"_ _26a\"> </span>Res<span class=\"_ _2\"></span>to <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span> m<span class=\"_ _1\"></span>ond<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> Outdoor<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Powe<span class=\"_ _3\"></span>r<span class=\"_ _26a\"> </span>Equipmen<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>Co.Ltd<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> (RPC)<span class=\"_ _31\"> </span>25.532.493<span class=\"_ _54\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Nin<span class=\"_ _3\"></span>gbo<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>Manuf<span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _f7\"> </span>N<span class=\"_ _3\"></span>ingb<span class=\"_ _3\"></span>o City<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _64\"> </span>8.029.49<span class=\"_ _3\"></span>4<span class=\"_ _2d\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _4\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>rie Sarl<span class=\"_ _67\"> </span>Moh<span class=\"_ _3\"></span>ammedia (MA)<span class=\"_ _d6\"> </span>1.445.000<span class=\"_ _54\"> </span>M<span class=\"_ _1\"></span>AD<span class=\"_ _178\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ai <span class=\"_ _1\"></span>Lon<span class=\"_ _3\"></span>g (Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i) Mac<span class=\"_ _1\"></span>hine<span class=\"_ _3\"></span>ry<span class=\"_ _26a\"> </span>Manu<span class=\"_ _3\"></span>fa<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _26a\"> </span>Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _f6\"> </span>16.353<span class=\"_ _3\"></span>.001<span class=\"_ _2d\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Line S<span class=\"_ _1\"></span>outh Afr<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a Lt<span class=\"_ _1\"></span>d<span class=\"_ _7d\"> </span>P<span class=\"_ _1\"></span>ietermar<span class=\"_ _3\"></span>itz<span class=\"_ _1\"></span>burg<span class=\"_ _3\"></span> (Z<span class=\"_ _3\"></span>A)<span class=\"_ _c5\"> </span><span class=\"ls2d\">100<span class=\"_ _99\"> </span></span>Z<span class=\"_ _3\"></span>AR<span class=\"_ _89\"> </span>51,00<span class=\"_ _28\"> </span>Spee<span class=\"_ _3\"></span>d France S<span class=\"_ _1\"></span>AS<span class=\"_ _f3\"> </span>51,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>Equipmen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span> Co. <span class=\"_ _1\"></span>Ltd<span class=\"_ _1f\"> </span>Y<span class=\"_ _1\"></span>ongkang<span class=\"_ _3\"></span> Cit<span class=\"_ _1\"></span>y <span class=\"_ _1\"></span>(RPC)<span class=\"_ _d4\"> </span>63.016<span class=\"_ _3\"></span>.019 <span class=\"_ _25\"> </span>RMB<span class=\"_ _b3\"> </span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>radin<span class=\"_ _3\"></span>g Co. Lt<span class=\"_ _1\"></span>d<span class=\"_ _96\"> </span>Y<span class=\"_ _1\"></span>ong<span class=\"_ _3\"></span>k<span class=\"_ _1\"></span>ang<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>City<span class=\"_ _1\"></span> (RPC)<span class=\"_ _e1\"> </span>3.930.57<span class=\"_ _3\"></span>9 <span class=\"_ _25\"> </span>RMB<span class=\"_ _a0\"> </span>98<span class=\"_ _3\"></span>,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> A<span class=\"_ _1\"></span>utec<span class=\"_ _1\"></span>h E<span class=\"_ _1\"></span>qu<span class=\"_ _3\"></span>ipment <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _61\"> </span>J<span class=\"_ _3\"></span>iang<span class=\"_ _3\"></span>men (R<span class=\"_ _3\"></span>PC)<span class=\"_ _174\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _146\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span></span></span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>ria e Comer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o de<span class=\"_ _26a\"> </span>Equipa<span class=\"_ _3\"></span>mentos<span class=\"_ _1\"></span> Ltda<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>iatuba (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>do Brasil <span class=\"_ _1\"></span>In<span class=\"_ _3\"></span>dustria LT<span class=\"_ _3\"></span>DA<span class=\"_ _26a\"> </span>Rib<span class=\"_ _3\"></span>eira<span class=\"_ _3\"></span>o P<span class=\"_ _1\"></span>reto (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>S.<span class=\"_ _1\"></span>I. A<span class=\"_ _1\"></span>gro<span class=\"_ _3\"></span> M<span class=\"_ _1\"></span>exic<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Gua<span class=\"_ _3\"></span>dalaja<span class=\"_ _3\"></span>ra (MEX<span class=\"_ _9\"></span>)<span class=\"_ _26a\"> </span>MX<span class=\"_ _9\"></span>N<span class=\"_ _26a\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Brasil<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltda<span class=\"_ _26a\"> </span>I<span class=\"_ _3\"></span>nda<span class=\"_ _3\"></span>iatuba (BR)<span class=\"_ _26a\"> </span>BRL<span class=\"_ _26a\"> </span>98,45<span class=\"_ _26a\"> </span>2.3 Differenze di tradu<span class=\"_ _1\"></span>zione<span class=\"_ _26a\"> </span>Valuta funzionale e va<span class=\"_ _1\"></span>luta di presentaz<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Gli <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span>lementi <span class=\"_ _3\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>bilancio <span class=\"_ _3\"></span>di ciascuna <span class=\"_ _2\"></span>impres<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>del Gruppo <span class=\"_ _2\"></span>sono rilevati <span class=\"_ _2\"></span>utilizz<span class=\"_ _1\"></span>ando <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>valuta dell\u2019ambiente<span class=\"_ _26a\"> </span>economico <span class=\"_ _8\"></span>pr<span class=\"_ _1\"></span>incipale <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>cui <span class=\"_ _11\"></span>l\u2019impresa <span class=\"_ _8\"></span>op<span class=\"_ _1\"></span>era <span class=\"_ _8\"></span>(val<span class=\"_ _1\"></span>uta <span class=\"_ _8\"></span>fu<span class=\"_ _1\"></span>nzionale). <span class=\"_ _8\"></span>Il <span class=\"_ _11\"></span>bilancio <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>presentato <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>Euro,<span class=\"_ _1\"></span> valuta funzionale e <span class=\"_ _1\"></span>di prese<span class=\"_ _1\"></span>ntazione della Cap<span class=\"_ _1\"></span>ogruppo.<span class=\"_ _1\"></span> Operazioni e saldi<span class=\"_ _1\"></span> Le operazioni in <span class=\"_ _3\"></span>valuta ester<span class=\"_ _1\"></span>a sono <span class=\"_ _3\"></span>convert<span class=\"_ _1\"></span>ite utilizzando i <span class=\"_ _3\"></span>tassi di cambio alle date delle <span class=\"_ _3\"></span>rispettive operazioni.<span class=\"_ _26a\"> </span>Gli <span class=\"_ _8\"></span>ut<span class=\"_ _1\"></span>ili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>erdite <span class=\"_ _11\"></span>su <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ambi <span class=\"_ _11\"></span>derivanti <span class=\"_ _8\"></span>dag<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>incassi <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>dai <span class=\"_ _11\"></span>pagamenti <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _11\"></span>valuta <span class=\"_ _8\"></span>est<span class=\"_ _1\"></span>era <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>dalla <span class=\"_ _8\"></span>convers<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>ai<span class=\"_ _26a\"> </span>cambi <span class=\"_ _1\"></span>di ch<span class=\"_ _1\"></span>iusura <span class=\"_ _1\"></span>dell\u2019eser<span class=\"_ _1\"></span>cizio d<span class=\"_ _1\"></span>elle a<span class=\"_ _1\"></span>ttivit\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>passivit\u00e0 <span class=\"_ _1\"></span>monetar<span class=\"_ _1\"></span>ie <span class=\"_ _1\"></span>denominate <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>aluta es<span class=\"_ _1\"></span>tera s<span class=\"_ _1\"></span>ono <span class=\"_ _1\"></span>imputati<span class=\"_ _1\"></span> al <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>onto <span class=\"_ _23\"></span>economico. <span class=\"_ _23\"> </span>Veng<span class=\"_ _1\"></span>ono <span class=\"_ _23\"></span>differiti <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"></span>conto <span class=\"_ _23\"> </span>economico <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>mplessivo <span class=\"_ _23\"></span>gli <span class=\"_ _23\"></span>utili <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>le <span class=\"_ _23\"></span>perdite <span class=\"_ _23\"></span>realizzate <span class=\"_ _23\"></span>su<span class=\"_ _26a\"> </span>strumenti per la c<span class=\"_ _1\"></span>opertura dei fluss<span class=\"_ _1\"></span>i per i quali non s<span class=\"_ _1\"></span>i \u00e8 ancora realizzat<span class=\"_ _1\"></span>a la transazione og<span class=\"_ _1\"></span>getto di copertura.<span class=\"_ _8\"></span> Consolidamento di bi<span class=\"_ _1\"></span>lanci di societ\u00e0 ester<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> I bilanci <span class=\"_ _3\"></span>di tutte le i<span class=\"_ _3\"></span>mprese del Gruppo sono predisposti secondo i <span class=\"_ _3\"></span>principi contabili IAS/IFRS per uniformarli a<span class=\"_ _1\"></span><span class=\"ls2e\">i<span class=\"_ _26a\"> </span></span>principi contabili di <span class=\"_ _1\"></span>Emak S.p.A.<span class=\"_ _1\"></span> I <span class=\"_ _11\"></span>bilanci <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>valuta <span class=\"_ _11\"></span>funzionale <span class=\"_ _11\"></span>divers<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>dalla <span class=\"_ _11\"></span>valuta <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>presentaz<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>bilancio <span class=\"_ _20\"></span>consolidato <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>convertiti<span class=\"_ _1\"></span> come segue:<span class=\"_ _26a\"> </span>(i) <span class=\"_ _8f\"> </span><span class=\"ff5\">le attivi<span class=\"_ _1\"></span>t\u00e0 e le passivit\u00e0 son<span class=\"_ _1\"></span>o convertite al cambi<span class=\"_ _1\"></span>o alla data di ch<span class=\"_ _1\"></span>iusura dell\u2019eserci<span class=\"_ _1\"></span>zio;<span class=\"_ _8\"></span></span> (<span class=\"ls21\">ii)<span class=\"_ _1\"></span></span> <span class=\"_ _149\"> </span><span class=\"ff5\">i ricavi e i costi sono conver<span class=\"_ _1\"></span>titi al cambio med<span class=\"_ _1\"></span>io dell\u2019eserc<span class=\"_ _1\"></span>izio;<span class=\"_ _1\"></span></span> (iii) <span class=\"_ _100\"> </span><span class=\"ff5\">tutte <span class=\"_ _23\"> </span>le <span class=\"_ _20\"> </span>differenz<span class=\"_ _1\"></span>e <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>traduzione <span class=\"_ _20\"> </span>son<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>ri<span class=\"_ _1\"></span>levate <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>ome <span class=\"_ _23\"> </span>specifica <span class=\"_ _23\"> </span>riserva <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>patrim<span class=\"_ _1\"></span>onio <span class=\"_ _23\"> </span>netto <span class=\"_ _20\"> </span>(\u201criserv<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>per<span class=\"_ _26a\"> </span></span>differenze di convers<span class=\"_ _1\"></span>ione\u201d).<span class=\"ff2\"> </span>I <span class=\"_ _20\"></span>principali <span class=\"_ _20\"></span>tassi <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>ca<span class=\"_ _1\"></span>mbio <span class=\"_ _20\"></span>utilizzati <span class=\"_ _23\"></span>per <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>onversione <span class=\"_ _23\"></span>in <span class=\"_ _20\"></span>Euro <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>bilanc<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>espressi <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>val<span class=\"_ _1\"></span>ute <span class=\"_ _20\"></span>estere <span class=\"_ _20\"></span>sono <span class=\"_ _23\"></span>i<span class=\"_ _26a\"> </span>seguenti:<span class=\"_ _26a\"> </span>2.4 Immobilizzazion<span class=\"_ _1\"></span>i materiali<span class=\"_ _1\"></span> I terreni e f<span class=\"_ _1\"></span>abbricati son<span class=\"_ _1\"></span>o costituiti ess<span class=\"_ _1\"></span>enzialmente <span class=\"_ _1\"></span>da stabiliment<span class=\"_ _1\"></span>i produttivi, <span class=\"_ _1\"></span>magazz<span class=\"_ _1\"></span>ini e uffici e <span class=\"_ _1\"></span>sono espost<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>in <span class=\"_ _20\"></span>bila<span class=\"_ _1\"></span>ncio <span class=\"_ _23\"></span>al <span class=\"_ _20\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _23\"></span>storico, <span class=\"_ _23\"></span>incrementato <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>ivalutazioni <span class=\"_ _23\"></span>legali <span class=\"_ _23\"></span>effettuate <span class=\"_ _23\"></span>negli <span class=\"_ _20\"></span>an<span class=\"_ _1\"></span>ni <span class=\"_ _20\"></span>prec<span class=\"_ _1\"></span>edenti <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>prima<span class=\"_ _26a\"> </span>applicazione <span class=\"_ _100\"> </span>dei <span class=\"_ _53\"> </span>princi<span class=\"_ _1\"></span>pi <span class=\"_ _53\"> </span>contab<span class=\"_ _1\"></span>ili <span class=\"_ _53\"> </span>IAS/IFR<span class=\"_ _1\"></span>S, <span class=\"_ _53\"> </span>al <span class=\"_ _100\"> </span>netto <span class=\"_ _53\"> </span>dell'a<span class=\"_ _1\"></span>mmortamento <span class=\"_ _100\"> </span>per <span class=\"_ _100\"> </span>i <span class=\"_ _53\"> </span>fabbricati. <span class=\"_ _100\"> </span>Le <span class=\"_ _100\"> </span>altre<span class=\"_ _26a\"> </span>immobilizzazioni <span class=\"_ _21\"> </span>materia<span class=\"_ _1\"></span>li <span class=\"_ _21\"> </span>sono <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>ontabilizzate <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>costo <span class=\"_ _21\"> </span>storico <span class=\"_ _21\"> </span>a<span class=\"_ _8\"></span>l <span class=\"_ _23\"> </span>netto <span class=\"_ _1e\"> </span>dell'ammortament<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>perd<span class=\"_ _1\"></span>ite<span class=\"_ _26a\"> </span>durevoli di valore. Il costo s<span class=\"_ _1\"></span>torico compren<span class=\"_ _1\"></span>de tutte le spese d<span class=\"_ _1\"></span>irettamente attri<span class=\"_ _1\"></span>buibili all\u2019acquisto dei b<span class=\"_ _1\"></span>eni.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>I <span class=\"_ _21\"> </span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _21\"> </span>incre<span class=\"_ _1\"></span>mentativi <span class=\"_ _1e\"> </span>sostenuti <span class=\"_ _1e\"> </span>sono <span class=\"_ _1e\"> </span>inclusi <span class=\"_ _1e\"> </span>nel <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _1e\"> </span>contabile <span class=\"_ _1e\"> </span>dell\u2019attivit\u00e0 <span class=\"_ _1e\"> </span>o <span class=\"_ _1e\"> </span>contab<span class=\"_ _1\"></span>ilizzati <span class=\"_ _21\"> </span>co<span class=\"_ _1\"></span>me<span class=\"_ _8\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _26a\"> </span></span>separata, <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>lo <span class=\"_ _2\"></span>quando <span class=\"_ _2\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>probab<span class=\"_ _1\"></span>ile <span class=\"_ _2\"></span>che <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>essi <span class=\"_ _2\"></span>der<span class=\"_ _1\"></span>iveranno <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>uturi <span class=\"_ _2\"></span>benefici<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>economici <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>tali <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>possono <span class=\"_ _3\"></span>essere<span class=\"_ _1\"></span> A<span class=\"_ _3\"></span>m<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>onta<span class=\"_ _8\"></span>re<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>uta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>te<span class=\"_ _1\"></span>ra<span class=\"_ _8\"></span> pe<span class=\"_ _8\"></span>r 1 <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>Me<span class=\"_ _8\"></span>di<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _89\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _179\"> </span>Me<span class=\"_ _8\"></span>di<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _10c\"> </span>31.12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>St<span class=\"_ _1\"></span>erlin<span class=\"_ _3\"></span>a (I<span class=\"_ _2\"></span>ng<span class=\"_ _3\"></span>hilt<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>a)<span class=\"_ _17a\"> </span>0,85<span class=\"_ _5a\"> </span>0<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>89<span class=\"_ _17b\"> </span>0,86<span class=\"_ _65\"> </span>0,84<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>minbi (C<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>)<span class=\"_ _ec\"> </span>7<span class=\"_ _2\"></span>,<span class=\"_ _1\"></span>08<span class=\"_ _5a\"> </span>7,36<span class=\"_ _17b\"> </span>7,63<span class=\"_ _65\"> </span>7,<span class=\"_ _1\"></span>19<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ollar<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>a)<span class=\"_ _fc\"> </span>1,<span class=\"_ _1\"></span>05<span class=\"_ _5a\"> </span>1<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>07<span class=\"_ _17b\"> </span>1,18<span class=\"_ _65\"> </span>1,13<span class=\"_ _26a\"> </span>Z<span class=\"_ _9\"></span>l<span class=\"_ _1\"></span>oty<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Polon<span class=\"_ _3\"></span>ia)<span class=\"_ _11d\"> </span>4,69<span class=\"_ _5a\"> </span>4<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>68<span class=\"_ _17b\"> </span>4,57<span class=\"_ _65\"> </span>4,60<span class=\"_ _26a\"> </span>Z<span class=\"_ _9\"></span>ar (Sud<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>ric<span class=\"_ _1\"></span>a)<span class=\"_ _160\"> </span>1<span class=\"_ _3\"></span>7,21<span class=\"_ _67\"> </span>18,10<span class=\"_ _c5\"> </span>1<span class=\"_ _3\"></span>7,48<span class=\"_ _e7\"> </span>18<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>06<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>ah<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>rain<span class=\"_ _3\"></span>a)<span class=\"_ _11d\"> </span>3<span class=\"_ _3\"></span>4,02<span class=\"_ _67\"> </span>39,04<span class=\"_ _c5\"> </span>3<span class=\"_ _2\"></span>2,<span class=\"_ _1\"></span>26<span class=\"_ _e7\"> </span>30<span class=\"_ _2\"></span>,<span class=\"_ _8\"></span>92<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ea<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>(Bra<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ile)<span class=\"_ _34\"> </span>5,44<span class=\"_ _5a\"> </span>5,64<span class=\"_ _16f\"> </span>6,<span class=\"_ _1\"></span>38<span class=\"_ _65\"> </span>6,31<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>irh<span class=\"_ _3\"></span>am <span class=\"_ _1\"></span>(<span class=\"_ _3\"></span>Maro<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>o)<span class=\"_ _17c\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>68<span class=\"_ _67\"> </span>11<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>16<span class=\"_ _c5\"> </span>1<span class=\"_ _2\"></span>0,<span class=\"_ _1\"></span>63<span class=\"_ _e7\"> </span>10<span class=\"_ _3\"></span>,48<span class=\"_ _26a\"> </span>Pes<span class=\"_ _1\"></span>o M<span class=\"_ _1\"></span>ess<span class=\"_ _8\"></span>ic<span class=\"_ _1\"></span>ano<span class=\"_ _3\"></span> (Mes<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ic<span class=\"_ _8\"></span>o)<span class=\"_ _5d\"> </span>21<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>19<span class=\"_ _67\"> </span>20<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>86<span class=\"_ _c5\"> </span>2<span class=\"_ _2\"></span>3,<span class=\"_ _1\"></span>99<span class=\"_ _e7\"> </span>23<span class=\"_ _3\"></span>,14<span class=\"_ _26a\"> </span>Pes<span class=\"_ _1\"></span>o Cilen<span class=\"_ _3\"></span>o (C<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>le)<span class=\"_ _d7\"> </span>917<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>83<span class=\"_ _5d\"> </span>9<span class=\"_ _3\"></span>13<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>82<span class=\"_ _78\"> </span>89<span class=\"_ _3\"></span>8,39<span class=\"_ _17d\"> </span>96<span class=\"_ _3\"></span>4,35<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>or<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>a S<span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>ed<span class=\"_ _3\"></span>es<span class=\"_ _1\"></span>e (Sv<span class=\"_ _c\"></span>ez<span class=\"_ _1\"></span>ia)<span class=\"_ _5a\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>63<span class=\"_ _67\"> </span>11,12<span class=\"_ _17e\"> </span>10<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>15<span class=\"_ _b7\"> </span>10,25<span class=\"_ _26a\"> </span>valutati <span class=\"_ _1e\"> </span>atte<span class=\"_ _1\"></span>ndibilmente.  I <span class=\"_ _1e\"> </span>costi <span class=\"_ _1f\"> </span>delle <span class=\"_ _1e\"> </span>altr<span class=\"_ _1\"></span>e <span class=\"_ _1e\"> </span>riparaz<span class=\"_ _1\"></span>ioni <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>manut<span class=\"_ _1\"></span>enzioni <span class=\"_ _1e\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _1f\"> </span>imputati <span class=\"_ _1e\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span>conto  economico<span class=\"_ _26a\"> </span> nell\u2019esercizio nel qu<span class=\"_ _1\"></span>ale son<span class=\"_ _1\"></span><span class=\"ff2\">o sostenuti.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>I terreni non sono a<span class=\"_ _1\"></span>mmortizzati. L\u2019ammort<span class=\"_ _1\"></span>amento delle<span class=\"_ _1\"></span> altre attivit\u00e0 \u00e8 calcolat<span class=\"_ _1\"></span>o a quote cost<span class=\"_ _1\"></span>anti sul periodo di<span class=\"_ _26a\"> </span> vita utile stimata genera<span class=\"_ _1\"></span>lmente come seg<span class=\"_ _1\"></span>ue:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> fabbricati, 33 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> costruzioni leggere, 10 anni;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> impianti e macchinari, 6-<span class=\"_ _1\"></span>10 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> stampi per la produzione, 4<span class=\"_ _1\"></span>-6 anni;<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> altri<span class=\"_ _3\"></span>, 4-8 <span class=\"_ _1\"></span>anni.<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>Il valore residuo e la vit<span class=\"_ _1\"></span>a utile delle attiv<span class=\"_ _1\"></span>it\u00e0 sono rivisti e mod<span class=\"_ _1\"></span>ificati, se necessario, <span class=\"_ _1\"></span>al termine di ogn<span class=\"_ _1\"></span>i esercizio.<span class=\"_ _8\"></span> Il <span class=\"_ _20\"></span>valore <span class=\"_ _20\"> </span>c<span class=\"_ _1\"></span>ontabile <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>u<span class=\"_ _1\"></span>n\u2019attivit\u00e0 <span class=\"_ _20\"> </span>\u00e8 <span class=\"_ _23\"> </span>immediatamente <span class=\"_ _23\"> </span>ridotto <span class=\"_ _20\"> </span>al <span class=\"_ _20\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>r<span class=\"_ _1\"></span>ealiz<span class=\"_ _8\"></span><span class=\"ff2\">zo <span class=\"_ _20\"></span>se <span class=\"_ _20\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>valore <span class=\"_ _23\"></span>contabile <span class=\"_ _20\"></span>risulta<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>maggiore del valore rec<span class=\"_ _1\"></span>uperabile stimat<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span> I <span class=\"_ _8\"></span>contributi <span class=\"_ _8\"></span>pu<span class=\"_ _1\"></span>bblici <span class=\"_ _8\"></span>otten<span class=\"_ _1\"></span>uti <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>fronte <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>investimenti<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>fabbricati<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>imp<span class=\"_ _1\"></span>ianti <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>levati <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>econom<span class=\"_ _1\"></span>ico<span class=\"_ _26a\"> </span> lungo <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>necessari<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>correlarli <span class=\"_ _11\"></span>con <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>relativi <span class=\"_ _11\"></span>piani <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>ammortamento <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>tr<span class=\"_ _1\"></span>attati <span class=\"_ _11\"></span>come <span class=\"_ _11\"></span>provent<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> differiti. 2.5 Immobilizzazion<span class=\"_ _1\"></span>i immateriali<span class=\"_ _1\"></span><span class=\"ff2\"> </span>(a) Costi di sviluppo<span class=\"_ _1\"></span> Si <span class=\"_ _11\"></span>tratta <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>immobilizzazioni <span class=\"_ _11\"></span>immateriali <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>vita <span class=\"_ _11\"></span>definita. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>costi <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>sviluppo <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>progett<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>n<span class=\"_ _1\"></span>uovi <span class=\"_ _11\"></span>prodotti <span class=\"_ _11\"></span>sono<span class=\"_ _1\"></span> iscritti all\u2019attivo solo se s<span class=\"_ _1\"></span>ono rispettate le se<span class=\"_ _1\"></span>guenti condizioni: <span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> i costi possono essere deter<span class=\"_ _1\"></span>minati in modo atten<span class=\"_ _1\"></span>dibile;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> la <span class=\"_ _9\"></span>fatti<span class=\"_ _1\"></span>bilit\u00e0 <span class=\"_ _2\"></span>tecnica <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>prodotto, <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>volumi <span class=\"_ _2\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>i <span class=\"_ _2\"></span>prezzi <span class=\"_ _2\"></span>att<span class=\"_ _1\"></span>esi <span class=\"_ _2\"></span>indican<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>che <span class=\"_ _2\"></span>i <span class=\"_ _2\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>sostenu<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>nella <span class=\"_ _2\"></span>fas<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>svilupp<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>genereranno benef<span class=\"_ _1\"></span>ici economici futuri.<span class=\"_ _1\"></span> Un\u2019attivit\u00e0 <span class=\"_ _20\"></span>immateria<span class=\"_ _1\"></span>le, <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>enerata <span class=\"_ _20\"> </span>nel<span class=\"_ _1\"></span>la <span class=\"_ _11\"></span>fas<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>viluppo <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>un <span class=\"_ _20\"></span>progett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>interno, <span class=\"_ _20\"> </span>\u00e8 <span class=\"_ _20\"></span>iscritta <span class=\"_ _20\"></span>come<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>se <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span> Societ\u00e0 \u00e8 in grado d<span class=\"_ _1\"></span>i dimostrare:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"ff5\">la <span class=\"_ _20\"></span>possibilit\u00e0 <span class=\"_ _23\"> </span>tecnica <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"> </span>co<span class=\"_ _1\"></span>mpletare <span class=\"_ _23\"> </span>l\u2019attivit\u00e0 <span class=\"_ _20\"> </span>imma<span class=\"_ _1\"></span>teriale, <span class=\"_ _23\"> </span>in <span class=\"_ _20\"></span>modo <span class=\"_ _23\"> </span>che <span class=\"_ _20\"> </span>si<span class=\"_ _1\"></span>a <span class=\"_ _20\"> </span>disp<span class=\"_ _1\"></span>onibile <span class=\"_ _23\"> </span>all\u2019utilizzo <span class=\"_ _23\"> </span>o <span class=\"_ _20\"></span>alla<span class=\"_ _26a\"> </span></span></span><span class=\"ff2\"><span class=\"ff5\"> </span></span>vendita;<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"ff5\">l\u2019intenzione di completare l\u2019<span class=\"_ _1\"></span>attivit\u00e0 e la propr<span class=\"_ _1\"></span>ia capacit\u00e0 di uti<span class=\"_ _1\"></span>lizzarla o vender<span class=\"_ _1\"></span>la;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> le modalit\u00e0 con c<span class=\"ff5\">ui l\u2019attivit\u00e0 gener<span class=\"_ _1\"></span>er\u00e0 benefici ec<span class=\"_ _1\"></span>onomici futuri;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"ff5\">la disponibilit\u00e0 di risorse pe<span class=\"_ _1\"></span>r completare l\u2019att<span class=\"_ _1\"></span>ivit\u00e0;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> la <span class=\"_ _11\"></span>dispon<span class=\"_ _1\"></span>ibilit\u00e0 <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>adeguate<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>risorse <span class=\"_ _20\"></span>tecniche, <span class=\"_ _20\"></span>fina<span class=\"_ _1\"></span>nziarie <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>altro <span class=\"_ _20\"></span>tipo <span class=\"_ _20\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _20\"></span>completare <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>viluppo <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>utilizzare o rivendere <span class=\"_ _1\"></span>l\u2019attivit\u00e0;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> la capaci<span class=\"ff5\">t\u00e0 di valutare in m<span class=\"_ _1\"></span>odo attendibile il c<span class=\"_ _1\"></span>osto attribuibile all\u2019at<span class=\"_ _1\"></span>tivit\u00e0 durante lo<span class=\"_ _1\"></span> sviluppo;<span class=\"_ _8\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"ff5\">la capacit\u00e0 di utilizzare l\u2019attiv<span class=\"_ _1\"></span>it\u00e0 immateriale generat<span class=\"_ _1\"></span>a.<span class=\"_ _1\"></span></span> </span>L\u2019ammortamento dei cost<span class=\"_ _1\"></span>i di sviluppo, classificati n<span class=\"_ _1\"></span>ella voce \u201cCosti di sviluppo\u201d, de<span class=\"_ _1\"></span>corre dal momento in<span class=\"_ _8\"></span><span class=\"ff2\"> cui la<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>fase di sviluppo si \u00e8 co<span class=\"_ _1\"></span>nclusa e l\u2019attivit\u00e0 sottost<span class=\"_ _1\"></span>ante inizia a gen<span class=\"_ _1\"></span>erare benefici eco<span class=\"_ _1\"></span>nomici.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Nel <span class=\"_ _23\"> </span>per<span class=\"_ _1\"></span>iodo <span class=\"_ _21\"> </span>in <span class=\"_ _23\"> </span>cui <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>sostenuti <span class=\"_ _21\"> </span>costi <span class=\"_ _21\"> </span>interni <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>sv<span class=\"_ _1\"></span>iluppo <span class=\"_ _23\"> </span>ca<span class=\"_ _1\"></span>pitalizzabili, <span class=\"_ _21\"> </span>gli <span class=\"_ _21\"> </span>stessi <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>sospesi <span class=\"_ _21\"> </span>a <span class=\"_ _23\"> </span>Co<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span> economico a riduzio<span class=\"_ _1\"></span>ne delle voci di cos<span class=\"_ _1\"></span>to int<span class=\"_ _1\"></span>eressate e c<span class=\"_ _1\"></span>lassificati tra le imm<span class=\"_ _1\"></span>obilizzazioni immateria<span class=\"_ _1\"></span>li.<span class=\"_ _1\"></span> I <span class=\"_ _1\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>svilup<span class=\"_ _1\"></span>po <span class=\"_ _1\"></span>capita<span class=\"_ _1\"></span>lizzati <span class=\"_ _1\"></span>sono <span class=\"_ _8\"></span>ammortizzati<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>base <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>una <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>period<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>si <span class=\"_ _8\"></span>attende <span class=\"_ _1\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>le<span class=\"_ _1\"></span> attivit\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>oggetto <span class=\"_ _8\"></span>gener<span class=\"_ _1\"></span>ino <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cassa <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>comunq<span class=\"_ _1\"></span>ue <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>periodi <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>super<span class=\"_ _1\"></span>iori <span class=\"_ _11\"></span><span class=\"ff5\">a <span class=\"_ _8\"></span>5 <span class=\"_ _8\"></span>anni <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>partire <span class=\"_ _8\"></span>dall<span class=\"_ _1\"></span>\u2019inizio<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>della produzione de<span class=\"_ _1\"></span>i prodotti oggetto del<span class=\"_ _1\"></span>l\u2019attivit\u00e0 di sviluppo<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Tutti <span class=\"_ _20\"></span>gli <span class=\"_ _20\"></span>altri <span class=\"_ _20\"></span>costi <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>viluppo, <span class=\"_ _20\"></span>che <span class=\"_ _23\"></span>non <span class=\"_ _20\"></span>presentano <span class=\"_ _20\"></span>i <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>equisiti <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>ess<span class=\"_ _1\"></span>ere <span class=\"_ _20\"></span>capitali<span class=\"_ _1\"></span>zzati, <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>ilevati <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>conto<span class=\"_ _26a\"> </span> economico quando sost<span class=\"_ _1\"></span>enuti.<span class=\"_ _1\"></span> I contributi pubblici ottenuti a fronte<span class=\"_ _1\"></span> di investimenti in costi di sviluppo sono rilevati nel conto economico lungo<span class=\"_ _26a\"> </span> il periodo necessario per c<span class=\"_ _1\"></span>orrelarli con i relativ<span class=\"_ _1\"></span>i piani di ammortam<span class=\"_ _1\"></span>ento e sono trat<span class=\"_ _1\"></span>tati come prov<span class=\"_ _1\"></span>enti differiti.<span class=\"_ _8\"></span> (b) Concessioni lice<span class=\"_ _1\"></span>nze e march<span class=\"_ _26a\"> </span>I <span class=\"_ _1\"></span>marchi <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>licenze<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alutati <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>costo <span class=\"_ _1\"></span>storico<span class=\"_ _1\"></span>, <span class=\"_ _1\"></span>ad <span class=\"_ _8\"></span>eccezione <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>marchi <span class=\"_ _1\"></span>ac<span class=\"_ _1\"></span>quisiti <span class=\"_ _1\"></span>attrav<span class=\"_ _1\"></span>erso <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>operazioni di <span class=\"_ _3\"></span><span class=\"ff7\">Business<span class=\"_ _1\"></span> Combina<span class=\"_ _3\"></span>tion<span class=\"_ _1\"></span><span class=\"ff2\"> che <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _3\"></span>rilevati inizialmente loro <span class=\"ff7\">fai<span class=\"_ _3\"></span>r value<span class=\"ff2\">. <span class=\"_ _3\"></span>I marchi <span class=\"_ _3\"></span>e le <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>icenze <span class=\"_ _3\"></span>hanno una <span class=\"_ _3\"></span>vita utile </span></span></span></span>definita <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alutati <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>l\u2019ammortamento <span class=\"_ _11\"></span>accumulato. <span class=\"_ _11\"></span>L\u2019ammortamento<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>calcolato <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l metodo <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>quote <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>ostanti <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>ripartire <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>loro <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"></span>vita <span class=\"_ _20\"></span>utile <span class=\"_ _11\"></span>st<span class=\"_ _1\"></span>imata <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>comunque <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>durata <span class=\"_ _21\"> </span>non superiore ai 10 anni. <span class=\"_ _1\"></span> (c) Altre attivit\u00e0 immateri<span class=\"_ _1\"></span>ali<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>altre <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _8\"></span>immateriali <span class=\"_ _11\"></span>sono <span class=\"_ _8\"></span>iscritte <span class=\"_ _8\"></span>secon<span class=\"_ _1\"></span>do <span class=\"_ _8\"></span>quan<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>previsto <span class=\"_ _11\"></span>dallo <span class=\"_ _8\"></span>IAS <span class=\"_ _8\"></span>38 <span class=\"_ _20\"></span><span class=\"ff5\">\u2013</span> <span class=\"_ _11\"></span><span class=\"ff7\">Attivit\u00e0 <span class=\"_ _8\"></span>immateriali,<span class=\"_ _1\"></span></span> <span class=\"_ _8\"></span>quand<span class=\"_ _1\"></span>o tale  attivit\u00e0 <span class=\"_ _1e\"> </span>\u00e8  identificabile,  \u00e8 <span class=\"_ _1e\"> </span>probabile  che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>neri  benefici <span class=\"_ _1e\"> </span>ec<span class=\"_ _1\"></span>onomici  futuri <span class=\"_ _1f\"> </span>e <span class=\"_ _1f\"> </span>il<span class=\"_ _1\"></span>  suo <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>osto <span class=\"_ _1f\"> </span>pu\u00f2  essere determinato attendibi<span class=\"_ _1\"></span>lmente. Le attivit\u00e0 immateria<span class=\"_ _1\"></span>li sono rilevate al costo di acqui<span class=\"_ _1\"></span>sto, ad eccezione delle Liste Clienti <span class=\"_ _1\"></span>iscritte <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>segui<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisiz<span class=\"_ _1\"></span>ioni, r<span class=\"_ _1\"></span>ilevati <span class=\"_ _1\"></span>inizialment<span class=\"_ _1\"></span>e a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>loro <span class=\"_ _8\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir v<span class=\"_ _1\"></span>alue</span>. <span class=\"_ _1\"></span>Le <span class=\"_ _8\"></span>altre <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>immaterial<span class=\"_ _1\"></span>i so<span class=\"_ _1\"></span>no<span class=\"_ _1\"></span> ammortizzate <span class=\"_ _1\"></span>sistematicam<span class=\"_ _1\"></span>ente <span class=\"_ _1\"></span>lungo <span class=\"_ _1\"></span>il p<span class=\"_ _1\"></span>eriodo <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>stimata <span class=\"_ _1\"></span>vita <span class=\"_ _1\"></span>uti<span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>omunque <span class=\"_ _1\"></span>per u<span class=\"_ _1\"></span>na <span class=\"_ _1\"></span>durata <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>varia<span class=\"_ _1\"></span> da 5 anni a 15 anni.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>accordi <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>lativi <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>parte <span class=\"_ _8\"></span>specifica <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tecnologia <span class=\"_ _8\"></span>cloud, <span class=\"_ _11\"></span><span class=\"ff7\">Software-<span class=\"_ _1\"></span><span class=\"ls4\">as</span>-a-Serv<span class=\"_ _1\"></span>ice <span class=\"_ _8\"></span>(SaaS)</span>, <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>contabilizzat<span class=\"_ _1\"></span>i secondo <span class=\"_ _1e\"> </span>q<span class=\"_ _1\"></span>uan<span class=\"ff5\">to <span class=\"_ _1f\"> </span>previsto <span class=\"_ _1f\"> </span>dalle <span class=\"_ _1e\"> </span>interpre<span class=\"_ _1\"></span>tazioni <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ubblicate <span class=\"_ _1f\"> </span>dall\u2019<span class=\"_ _1\"></span><span class=\"ff7\">IFRIC, <span class=\"_ _1e\"> </span></span></span>sec<span class=\"_ _1\"></span>ondo  cui <span class=\"_ _21\"> </span>i  costi <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ostenuti <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a personalizzazione <span class=\"_ _23\"></span>del <span class=\"_ _20\"></span>soft<span class=\"_ _1\"></span>ware <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>pplicativo <span class=\"_ _23\"></span>verso <span class=\"_ _23\"></span>un <span class=\"_ _20\"></span>fornitore <span class=\"_ _23\"> </span>in <span class=\"_ _23\"></span>un <span class=\"_ _20\"></span>accordo <span class=\"_ _21\"> </span><span class=\"ff7\">Software<span class=\"_ _1\"></span>-<span class=\"ls4\">as</span>-a-S<span class=\"_ _1\"></span>ervice <span class=\"_ _20\"></span>(<span class=\"_ _1\"></span>SaaS)<span class=\"_ _1\"></span></span> sono <span class=\"_ _1e\"> </span>cap<span class=\"_ _1\"></span>italizzati <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>olo  quando <span class=\"_ _1e\"> </span>sussistano  i <span class=\"_ _1e\"> </span>requisiti  pre<span class=\"_ _1\"></span>visti <span class=\"_ _1f\"> </span>dallo <span class=\"_ _1e\"> </span>I<span class=\"_ _1\"></span>AS <span class=\"_ _1f\"> </span>38 <span class=\"_ _1e\"> </span>e<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>particol<span class=\"_ _1\"></span>are <span class=\"_ _1e\"> </span>t<span class=\"_ _1\"></span>ali <span class=\"_ _1f\"> </span>attivit\u00e0 <span class=\"_ _1f\"> </span>di personalizzazione <span class=\"_ _20\"></span>si<span class=\"_ _1\"></span>ano <span class=\"_ _20\"></span>svolte <span class=\"_ _23\"></span>direttamente <span class=\"_ _20\"></span>sui <span class=\"_ _20\"></span>sistemi <span class=\"_ _20\"></span>inform<span class=\"_ _1\"></span>ativi <span class=\"_ _20\"></span>sotto <span class=\"_ _23\"></span>il <span class=\"_ _11\"></span>contr<span class=\"_ _1\"></span>ollo <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grupp<span class=\"_ _1\"></span>o/Societ\u00e0. <span class=\"_ _20\"></span>In alternativa <span class=\"_ _23\"></span>tali <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>sono <span class=\"_ _23\"></span>registrati <span class=\"_ _23\"></span>direttamente <span class=\"_ _23\"> </span>a <span class=\"_ _23\"></span>conto <span class=\"_ _23\"> </span>economico, <span class=\"_ _23\"> </span>similmente<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>ai <span class=\"_ _23\"></span>costi <span class=\"_ _23\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>configurazi<span class=\"_ _1\"></span>one software. 2.6 Diritti d\u2019uso<span class=\"_ _1\"></span><span class=\"ff4\"> </span>Il <span class=\"_ _8\"></span>dir<span class=\"_ _1\"></span>itto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>utilizzo <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>bene <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>leasing <span class=\"_ _11\"></span>(cosiddetto <span class=\"_ _11\"></span>\"<span class=\"_ _1\"></span><span class=\"ff7\">right <span class=\"_ _11\"></span>of <span class=\"_ _8\"></span>use<span class=\"_ _1\"></span></span>\") <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>classif<span class=\"_ _1\"></span>icato <span class=\"_ _8\"></span>n<span class=\"_ _1\"></span>ello <span class=\"_ _11\"></span>stato <span class=\"_ _11\"></span>patrimoniale <span class=\"_ _8\"></span>tra <span class=\"_ _11\"></span>le<span class=\"_ _1\"></span> attivit\u00e0 non correnti.<span class=\"_ _1\"></span> Il  <span class=\"ff7\">right  of  use  asset</span>  vien<span class=\"_ _1\"></span>e  inizialmente  rilevato  al <span class=\"_ _90\"> </span>c<span class=\"_ _1\"></span>osto,  determin<span class=\"_ _1\"></span>ato  come  s<span class=\"_ _1\"></span>ommatoria  delle  seguenti<span class=\"_ _26a\"> </span> componenti:<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>valore iniziale della <span class=\"_ _1\"></span>passivit\u00e0 derivante da <span class=\"_ _1\"></span>lease (parag<span class=\"_ _1\"></span>rafo 2.19);<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>eventuali <span class=\"_ _20\"></span>pagamenti <span class=\"_ _20\"></span>effettu<span class=\"_ _1\"></span>ati <span class=\"_ _11\"></span>pr<span class=\"_ _1\"></span>ima <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>lla <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ata <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>inizio <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>contratto, <span class=\"_ _20\"></span>al <span class=\"_ _20\"></span>netto <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>eventuali <span class=\"_ _20\"></span>incentivi<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>ricevuti;<span class=\"_ _26a\"> </span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>costi diretti iniziali so<span class=\"_ _1\"></span>stenuti dal loca<span class=\"_ _1\"></span>tario;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>la <span class=\"_ _23\"> </span>stima <span class=\"_ _21\"> </span>dei <span class=\"_ _21\"> </span>costi <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>locatario <span class=\"_ _23\"> </span>prev<span class=\"_ _1\"></span>ede <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ostenere <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _21\"> </span>lo <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>mantellamento<span class=\"_ _1\"></span>, <span class=\"_ _23\"> </span>la <span class=\"_ _21\"> </span>rimozione<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>la<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>demolizione dell\u2019asset s<span class=\"_ _1\"></span>ottostante.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Successivamente <span class=\"_ _12\"> </span>all<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>rilevazione <span class=\"_ _12\"> </span>inizia<span class=\"_ _1\"></span>le, <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>diritto <span class=\"_ _12\"> </span>d\u2019uso <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>re<span class=\"_ _1\"></span>ttificato <span class=\"_ _12\"> </span>per <span class=\"_ _12\"> </span>tener <span class=\"_ _12\"> </span>c<span class=\"_ _1\"></span>onto <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>quo<span class=\"_ _8\"></span><span class=\"ff2\">te <span class=\"_ _12\"> </span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>ammortamento <span class=\"_ _11\"></span>cumulate,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>eventuali <span class=\"_ _11\"></span>perdite <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>effetti <span class=\"_ _11\"></span>legati <span class=\"_ _11\"></span>ed <span class=\"_ _8\"></span>eve<span class=\"_ _1\"></span>ntuali <span class=\"_ _11\"></span>rideterminazion<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> della passivit\u00e0.<span class=\"_ _1\"></span> Le quote di ammortamento sono rilevate a quote costanti e sono contabilizzate a conto economico<span class=\"_ _8\"></span><span class=\"ff3 fs3\"> </span>nella voce<span class=\"_ _26a\"> </span> \u201cSvalutazione ed<span class=\"ff2\"> </span>a<span class=\"_ _1\"></span>mmortament<span class=\"_ _1\"></span>i\u201d.<span class=\"ff2\"> </span>Il Gruppo <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>avvale d<span class=\"_ _1\"></span>elle es<span class=\"_ _1\"></span>enzioni <span class=\"_ _1\"></span>consentite <span class=\"_ _1\"></span>dall\u2019IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span>per<span class=\"_ _1\"></span> i l<span class=\"_ _1\"></span>easing <span class=\"_ _1\"></span>a brev<span class=\"_ _1\"></span>e durata<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>quelli d<span class=\"_ _1\"></span>i mo<span class=\"_ _1\"></span>dico<span class=\"_ _26a\"> </span> valore, rilevando i pagamenti relativi a <span class=\"_ _3\"></span>tali tipologie di leasing a conto economico come <span class=\"_ _3\"></span>costi operativi lungo la<span class=\"_ _26a\"> </span> durata del contratto <span class=\"_ _1\"></span>di leasing.<span class=\"_ _1\"></span> In <span class=\"_ _11\"></span>relazione <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>opzioni <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>rinnovo, <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>proceduto <span class=\"_ _11\"></span>ad <span class=\"_ _11\"></span>effettuare <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>stima <span class=\"_ _11\"></span>della <span class=\"_ _11\"></span>durata <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>elativi<span class=\"_ _26a\"> </span> contratti di leasing tenut<span class=\"_ _1\"></span>o conto della ragionev<span class=\"_ _1\"></span>ole certezz<span class=\"_ _1\"></span>a dell\u2019esercizio dell\u2019opz<span class=\"_ _1\"></span>ione.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.7 Avviamento<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>erivante <span class=\"_ _3\"></span>dall\u2019acquisto <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>trollate, <span class=\"_ _3\"></span>classificato <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>attivit\u00e0 <span class=\"_ _3\"></span>non <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orrenti, <span class=\"_ _2\"></span>\u00e8 inizialmente <span class=\"_ _2\"></span>rilevato<span class=\"_ _26a\"> </span> al costo <span class=\"_ _3\"></span>rappresentat<span class=\"_ _1\"></span>o dall\u2019eccedenza del corrispettivo corrisposto e <span class=\"_ _3\"></span>dell\u2019importo iscritto per le <span class=\"_ _3\"></span>interessenze di<span class=\"_ _26a\"> </span> minoranza, <span class=\"_ _20\"></span>rilevato <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>acquisizione, <span class=\"_ _20\"></span>rispett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>alle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>ne<span class=\"_ _1\"></span>tte <span class=\"_ _20\"></span>identificabili <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>isite <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span> assunte da<span class=\"_ _1\"></span>l Gruppo.<span class=\"_ _1\"></span> Se <span class=\"_ _1\"></span>il c<span class=\"_ _1\"></span>orrispettivo \u00e8<span class=\"_ _1\"></span> infer<span class=\"_ _1\"></span>iore al <span class=\"_ _8\"></span><span class=\"ff7\">fai<span class=\"_ _1\"></span>r value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit\u00e0 <span class=\"_ _1\"></span>nette <span class=\"_ _1\"></span>della c<span class=\"_ _1\"></span>ontrollata <span class=\"_ _1\"></span>acquisita, <span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span> differenza \u00e8 rilevata ne<span class=\"_ _1\"></span>l conto econom<span class=\"_ _1\"></span>ico.<span class=\"_ _26a\"> </span>L\u2019avviamento \u00e8 considerato dal <span class=\"_ _3\"></span>Gruppo Emak un\u2019attivit\u00e0 a vita <span class=\"_ _3\"></span>utile indefinita. Conseguentemente, tale attivit<span class=\"_ _26a\"> </span>\u00e0<span class=\"_ _26a\"> </span>non <span class=\"_ _8\"></span>viene <span class=\"_ _11\"></span>ammortizzata <span class=\"_ _11\"></span>ma <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>ass<span class=\"_ _1\"></span>oggettata <span class=\"_ _11\"></span>periodicamente <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>verifiche <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>indivi<span class=\"_ _1\"></span>duare <span class=\"_ _8\"></span>ev<span class=\"_ _1\"></span>entuali <span class=\"_ _8\"></span>riduz<span class=\"_ _1\"></span>ioni <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>valore.<span class=\"_ _26a\"> </span>L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>allocato <span class=\"_ _1e\"> </span>alle<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>unit\u00e0 <span class=\"_ _1e\"> </span>operative <span class=\"_ _1e\"> </span>che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>nerano <span class=\"_ _1e\"> </span>flussi <span class=\"_ _1e\"> </span>finanziari <span class=\"_ _1e\"> </span>ide<span class=\"_ _1\"></span>ntificabili <span class=\"_ _1e\"> </span>separatamente <span class=\"_ _1e\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span>monitorati al fine di c<span class=\"_ _1\"></span>onsentire la verif<span class=\"_ _1\"></span>ica di eventual<span class=\"_ _1\"></span>i riduzioni di valore.<span class=\"_ _26a\"> </span> <span class=\"_ _8\"></span> L\u2019avviamento relativo a<span class=\"_ _1\"></span> societ\u00e0 collegate <span class=\"_ _1\"></span>\u00e8 incluso nel <span class=\"_ _1\"></span>valore della partec<span class=\"_ _1\"></span>ipazione.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.8 Perdita di v<span class=\"_ _1\"></span>alore delle<span class=\"_ _1\"></span> attivit\u00e0 (<span class=\"ffd\">Impai<span class=\"_ _1\"></span>rment</span>)<span class=\"_ _26a\"> </span>Le <span class=\"_ _2\"></span>attivit\u00e0 <span class=\"_ _3\"></span>che <span class=\"_ _3\"></span>hanno <span class=\"_ _3\"></span>una <span class=\"_ _2\"></span>vi<span class=\"_ _1\"></span>ta <span class=\"_ _3\"></span>utile <span class=\"_ _2\"></span>in<span class=\"_ _1\"></span>definita <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _2\"></span>vengo<span class=\"_ _1\"></span>no <span class=\"_ _3\"></span>ammortizzate <span class=\"_ _3\"></span>e <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _2\"></span>verif<span class=\"_ _1\"></span>icate <span class=\"_ _2\"></span>alm<span class=\"_ _1\"></span>eno <span class=\"_ _2\"></span>an<span class=\"_ _1\"></span>nualmente<span class=\"_ _26a\"> </span>e <span class=\"_ _3\"></span>ogni qualvolta si <span class=\"_ _2\"></span>ravv<span class=\"_ _1\"></span>isino indicatori <span class=\"_ _3\"></span>di possibili perdite <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>valore<span class=\"_ _1\"></span>. <span class=\"_ _3\"></span>Le attivit\u00e0 <span class=\"_ _3\"></span>soggette ad <span class=\"_ _3\"></span>ammort<span class=\"_ _1\"></span>am<span class=\"_ _8\"></span>ento <span class=\"_ _3\"></span>son<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>verificate <span class=\"_ _3\"></span>per accertare <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ossibili <span class=\"_ _3\"></span>perdite di <span class=\"_ _2\"></span>valore ogniqualvolta <span class=\"_ _3\"></span>eventi <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>camb<span class=\"_ _1\"></span>iamenti di<span class=\"_ _3\"></span> <span class=\"_ _3\"></span>situazi<span class=\"_ _1\"></span>oni <span class=\"_ _3\"></span>indicano <span class=\"_ _3\"></span>che<span class=\"_ _1\"></span> il <span class=\"_ _8\"></span>valore <span class=\"_ _11\"></span>contabile <span class=\"_ _11\"></span>potrebbe <span class=\"_ _8\"></span>non <span class=\"_ _11\"></span>essere <span class=\"_ _8\"></span>recup<span class=\"_ _1\"></span>erabile. <span class=\"_ _11\"></span>La <span class=\"_ _8\"></span>svalutazione <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>perdi<span class=\"_ _1\"></span>ta <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>rilevata <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>un<span class=\"_ _1\"></span> ammontare <span class=\"_ _3\"></span>uguale <span class=\"_ _3\"></span>all\u2019<span class=\"ff2\">ecc<span class=\"_ _1\"></span>edenza <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ispetto al <span class=\"_ _2\"></span>valore <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ecuperabile, <span class=\"_ _3\"></span>pari <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>pi\u00f9 <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>lto <span class=\"_ _2\"></span>tra il <span class=\"_ _2\"></span>valore<span class=\"_ _26a\"> </span></span>corrente <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>vendita <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _8\"></span>d\u2019uso. <span class=\"_ _8\"></span>Al <span class=\"_ _8\"></span>fine <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alutare <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>perd<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alore, <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>sono<span class=\"_ _26a\"> </span>raggruppate <span class=\"_ _11\"></span>al <span class=\"_ _20\"></span>pi\u00f9 <span class=\"_ _11\"></span>basso <span class=\"_ _20\"></span>livello <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>preve<span class=\"_ _1\"></span>dono <span class=\"_ _11\"></span>flus<span class=\"_ _1\"></span>si <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>cassa <span class=\"_ _20\"></span>identificabili <span class=\"_ _11\"></span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _20\"></span>(unit\u00e0<span class=\"_ _26a\"> </span>operative che generan<span class=\"_ _1\"></span>o flussi finanziar<span class=\"_ _1\"></span>i) come previst<span class=\"_ _1\"></span>o dalla IAS 36. <span class=\"_ _8\"></span> La <span class=\"_ _2\"></span>prec<span class=\"_ _1\"></span>itata <span class=\"_ _3\"></span>verifica <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>conferma <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>valore <span class=\"_ _3\"></span>richiede <span class=\"_ _3\"></span>necess<span class=\"_ _1\"></span>ariamente <span class=\"_ _3\"></span>l\u2019esercizio <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutazioni <span class=\"_ _3\"></span>soggett<span class=\"_ _1\"></span>ive <span class=\"_ _3\"></span>basate<span class=\"_ _26a\"> </span>sul<span class=\"ff5\">le <span class=\"_ _20\"></span>informazioni <span class=\"_ _20\"></span>disponibili <span class=\"_ _20\"></span>all\u2019interno <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>G<span class=\"_ _1\"></span>ruppo, <span class=\"_ _20\"></span>dalle <span class=\"_ _11\"></span>pros<span class=\"_ _1\"></span>pettive <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>m<span class=\"_ _1\"></span>ercato <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>dai <span class=\"_ _11\"></span>trend<span class=\"_ _1\"></span> </span>storici. <span class=\"_ _11\"></span>Ino<span class=\"_ _1\"></span>ltre, <span class=\"_ _11\"></span>q<span class=\"_ _1\"></span>ualora <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>ipotizzi <span class=\"_ _20\"></span>che <span class=\"_ _20\"></span>possa <span class=\"_ _20\"></span>essers<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>generata <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>potenziale <span class=\"_ _20\"></span>riduzione <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>valore, <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>Gruppo<span class=\"_ _1\"></span> procede alla deter<span class=\"_ _1\"></span>minazione della s<span class=\"_ _1\"></span>tessa ut<span class=\"_ _1\"></span>ilizzando tec<span class=\"_ _1\"></span>niche valutative ritenute <span class=\"_ _1\"></span>idonee.<span class=\"_ _1\"></span> Le <span class=\"_ _1\"></span>medesi<span class=\"_ _1\"></span>me <span class=\"_ _1\"></span>verif<span class=\"_ _1\"></span>iche <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>valore <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>medesime <span class=\"_ _8\"></span>tecniche <span class=\"_ _8\"></span>valutative <span class=\"_ _8\"></span>sono <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>pplicate <span class=\"_ _8\"></span>sulle <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _8\"></span>immateriali <span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> materiali <span class=\"_ _1\"></span>a vi<span class=\"_ _1\"></span>ta ut<span class=\"_ _1\"></span>ile <span class=\"_ _1\"></span>definita <span class=\"_ _1\"></span>quando <span class=\"_ _1\"></span>suss<span class=\"_ _1\"></span>istono <span class=\"_ _1\"></span>indicatori <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>facciano <span class=\"_ _1\"></span>prev<span class=\"_ _1\"></span>edere <span class=\"_ _1\"></span>difficol<span class=\"_ _8\"></span>t\u00e0 <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>recupero <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span>relativo valore netto co<span class=\"_ _1\"></span>ntabile tramite l\u2019uso.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>La corretta identificaz<span class=\"_ _1\"></span>ione di elementi indic<span class=\"_ _1\"></span>atori dell\u2019esis<span class=\"_ _1\"></span>tenza di una potenz<span class=\"_ _1\"></span>iale riduzione d<span class=\"_ _1\"></span>i valore, nonch\u00e9 le<span class=\"_ _26a\"> </span>stime <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>determinazion<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>stesse, <span class=\"_ _23\"> </span>dipendono,<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>principalmente, <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>fattori <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>condizion<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>che <span class=\"_ _23\"></span>possono<span class=\"_ _26a\"> </span>variare <span class=\"_ _11\"></span>nel <span class=\"_ _20\"></span>tempo <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>misur<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>anche <span class=\"_ _20\"></span>significativa,<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>influenzand<span class=\"_ _1\"></span>o, <span class=\"_ _11\"></span>quind<span class=\"_ _1\"></span>i, <span class=\"_ _11\"></span>le <span class=\"_ _20\"></span>valutazioni <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>stime <span class=\"_ _20\"></span>effettuate <span class=\"_ _20\"></span>dagli<span class=\"_ _26a\"> </span>amministratori.<span class=\"_ _26a\"> </span>2.9 Investimenti immob<span class=\"_ _1\"></span>iliari <span class=\"_ _1\"></span> Gli <span class=\"_ _1\"></span>immobili <span class=\"_ _8\"></span>detenuti <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>un <span class=\"_ _8\"></span>apprezzamento <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>nvestito <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>bbricati <span class=\"_ _1\"></span>poss<span class=\"_ _1\"></span>eduti <span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span>fine <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>conseguire<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>canoni di <span class=\"_ _3\"></span>locazione <span class=\"_ _3\"></span>sono valutati <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>costo al <span class=\"_ _3\"></span>netto di <span class=\"_ _2\"></span>ammort<span class=\"_ _1\"></span>amenti <span class=\"_ _3\"></span>e di <span class=\"_ _2\"></span>eventua<span class=\"_ _1\"></span>li <span class=\"_ _3\"></span>perdite per<span class=\"_ _26a\"> </span>riduzione di valore.<span class=\"_ _1\"></span> 2.10 Attivit\u00e0 finanzia<span class=\"_ _1\"></span>rie Tutte <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>finanzi<span class=\"_ _1\"></span>arie <span class=\"_ _1\"></span>rilevate<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _1\"></span><span class=\"ff5\">rientrano <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ell\u2019ambito <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>pplicazione <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>l\u2019IFRS <span class=\"_ _1\"></span>9 <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>rilevate<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>costo<span class=\"_ _26a\"> </span></span>ammortizzato <span class=\"_ _1e\"> </span>o <span class=\"_ _1f\"> </span>al <span class=\"_ _1e\"> </span><span class=\"ff7\">fair <span class=\"_ _1e\"> </span>va<span class=\"_ _1\"></span>lue</span> <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ulla <span class=\"_ _1e\"> </span>base <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>m<span class=\"_ _1\"></span>odello <span class=\"_ _1f\"> </span>di <span class=\"_ _1e\"> </span><span class=\"ff7\">bus<span class=\"_ _1\"></span>iness</span> <span class=\"_ _1e\"> </span><span class=\"ff5\">dell\u2019entit<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>la <span class=\"_ _1e\"> </span>gest<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>delle <span class=\"_ _1e\"> </span>attivit\u00e0<span class=\"_ _1\"></span> </span>finanziarie e delle caratt<span class=\"_ _1\"></span>eristiche relative a<span class=\"_ _1\"></span>i flussi finanziari contratt<span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>ali dell'attivit<span class=\"_ _1\"></span>\u00e0 finanziaria.<span class=\"_ _1\"></span> In particolare il Gruppo <span class=\"_ _1\"></span>individua le segue<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>attivit\u00e0 finanz<span class=\"_ _1\"></span>iarie:<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> attivit\u00e0 <span class=\"_ _11\"></span>finanziarie <span class=\"_ _20\"></span>detenute <span class=\"_ _20\"></span>nel <span class=\"_ _11\"></span>quadro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _11\"></span>mode<span class=\"_ _1\"></span>llo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>business <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>cui <span class=\"_ _20\"></span>obiettivo <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>incassare <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>flussi<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span>cassa <span class=\"_ _3\"></span>contrattuali, <span class=\"_ _3\"></span>rapprese<span class=\"_ _1\"></span>ntati <span class=\"ff5\">unicamente <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>incassi <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>capitale <span class=\"_ _3\"></span>e da <span class=\"_ _2\"></span>interessi sull\u2019importo <span class=\"_ _3\"></span>del <span class=\"_ _3\"></span>capitale<span class=\"_ _26a\"> </span></span>da restituire. Tali attiv<span class=\"_ _1\"></span>it\u00e0 sono valutate al cos<span class=\"_ _1\"></span>to ammor<span class=\"_ _1\"></span>tizzato;<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> attivit\u00e0 <span class=\"_ _2\"></span>fin<span class=\"_ _1\"></span>anziarie de<span class=\"_ _3\"></span>tenute nel <span class=\"_ _3\"></span>quadro <span class=\"_ _3\"></span>di un <span class=\"_ _2\"></span>mode<span class=\"_ _1\"></span>llo <span class=\"_ _3\"></span>di business <span class=\"_ _3\"></span>il <span class=\"_ _3\"></span>cui <span class=\"_ _3\"></span>obiettivo<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>onseguito sia <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>diante<span class=\"_ _26a\"> </span></span>l\u2019in<span class=\"ff2\">casso dei flussi finanziari contrattua<span class=\"_ _1\"></span>li che mediante la vendita delle stess<span class=\"_ _1\"></span>e: tali attivit\u00e0 sono valutate al<span class=\"_ _26a\"> </span></span>fair value con variaz<span class=\"_ _1\"></span>ioni rilevate nell\u2019utile (per<span class=\"_ _1\"></span>dita) (FV<span class=\"_ _1\"></span>TPL);<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\">  le altre attivit\u00e0 finanziar<span class=\"_ _1\"></span>ie sono val<span class=\"_ _1\"></span>utate al <span class=\"_ _1\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir value</span>, <span class=\"_ _1\"></span>con variazioni r<span class=\"_ _1\"></span>ileva<span class=\"ff5\">t<span class=\"_ _1\"></span>e nell\u2019utile <span class=\"_ _1\"></span>(perdita) d\u2019es<span class=\"_ _1\"></span>ercizio<span class=\"_ _26a\"> </span></span></span>(FVTPL).<span class=\"_ _26a\"> </span>In <span class=\"_ _23\"> </span>riferimento <span class=\"_ _21\"> </span>alle <span class=\"_ _21\"> </span>attivit\u00e0 <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>inanziarie <span class=\"_ _21\"> </span>valutate <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>cost<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>ammortizz<span class=\"_ _1\"></span>ato, <span class=\"_ _23\"> </span>q<span class=\"_ _1\"></span>uando <span class=\"_ _21\"> </span>i <span class=\"_ _23\"> </span>flussi <span class=\"_ _21\"> </span>finanziar<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>contrattua<span class=\"_ _1\"></span>li<span class=\"_ _26a\"> </span>dell'attivit\u00e0 <span class=\"_ _3\"></span>finanziaria sono <span class=\"_ _3\"></span>rinegoziati <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>altrimenti modificati <span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>rinegoziazione o <span class=\"_ _2\"></span>la modif<span class=\"_ _1\"></span>ica <span class=\"_ _3\"></span>non determinano<span class=\"_ _26a\"> </span>l'eliminazione <span class=\"_ _11\"></span>contab<span class=\"_ _1\"></span>ile, <span class=\"_ _11\"></span>viene <span class=\"_ _11\"></span>ricalcolato <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _11\"></span>lordo <span class=\"_ _11\"></span>dell'attiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _11\"></span>finanziaria <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>l\u2019ut<span class=\"_ _1\"></span>ile <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>perdita<span class=\"_ _26a\"> </span>derivante da modifica v<span class=\"_ _1\"></span>iene rilevato n<span class=\"_ _1\"></span>ell'utile (perdita) d'es<span class=\"_ _1\"></span>ercizio.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Qualsiasi costo <span class=\"_ _3\"></span>o commissione <span class=\"_ _3\"></span>sostenut<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>retti<span class=\"_ _1\"></span>ficano<span class=\"_ _1\"></span> il <span class=\"_ _2\"></span>valore<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>contabile dell'attivit\u00e0 finanziaria modificata e <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span>ammortizzati lungo i<span class=\"_ _1\"></span>l corso del restante<span class=\"_ _1\"></span> termine dell'att<span class=\"_ _1\"></span>ivit\u00e0.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>finanzi<span class=\"_ _1\"></span>arie <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>eliminate <span class=\"_ _8\"></span>contabilment<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>quando <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>diritti <span class=\"_ _8\"></span>contrattu<span class=\"_ _1\"></span>ali <span class=\"_ _8\"></span>sui <span class=\"_ _8\"></span>fluss<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>scadono <span class=\"_ _8\"></span>o<span class=\"_ _26a\"> </span>sono <span class=\"_ _1e\"> </span>tras<span class=\"_ _1\"></span>feriti, <span class=\"_ _1e\"> </span>in <span class=\"_ _1f\"> </span>modo <span class=\"_ _1e\"> </span>sos<span class=\"_ _1\"></span>tanziale, <span class=\"_ _1e\"> </span>tutti <span class=\"_ _1f\"> </span>i <span class=\"_ _1e\"> </span>rischi <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>i <span class=\"_ _1e\"> </span>be<span class=\"_ _1\"></span>nefici <span class=\"_ _1e\"> </span>conness<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>alla <span class=\"_ _1f\"> </span>detenzione<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>delle <span class=\"_ _1f\"> </span>attivit\u00e0 <span class=\"_ _1e\"> </span>(cd.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Derecognition<span class=\"ff2\">) <span class=\"_ _1e\"> </span>o <span class=\"_ _1e\"> </span>nel <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>aso <span class=\"_ _1e\"> </span>in <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>ui <span class=\"_ _21\"> </span>la <span class=\"_ _1e\"> </span>posta <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>onsiderata <span class=\"_ _1e\"> </span>definitivamente <span class=\"_ _1e\"> </span>irrecu<span class=\"_ _1\"></span>perabile <span class=\"_ _1e\"> </span>dopo <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>he <span class=\"_ _21\"> </span>tutte <span class=\"_ _1e\"> </span>l<span class=\"_ _26a\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span>necessarie procedure<span class=\"_ _1\"></span> di recupero son<span class=\"_ _1\"></span>o state c<span class=\"_ _1\"></span>ompletate.<span class=\"_ _1\"></span> Le attivit\u00e0 e le <span class=\"_ _1\"></span>passivit\u00e0 finanziari<span class=\"_ _1\"></span>e sono compens<span class=\"_ _1\"></span>ate nello stato <span class=\"_ _1\"></span>patrimoniale qu<span class=\"_ _1\"></span>ando si ha i<span class=\"_ _1\"></span>l diritto legale <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span>compensazione, <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>orrentemente <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itabile, <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>si <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>l\u2019i<span class=\"_ _1\"></span>ntenzione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>olare <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>pporto <span class=\"_ _1\"></span>su <span class=\"_ _1\"></span>base <span class=\"_ _8\"></span>netta <span class=\"_ _1\"></span>(ovver<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>di realizzare l\u2019at<span class=\"ff2\">t<span class=\"_ _1\"></span>ivit\u00e0 e contempor<span class=\"_ _1\"></span>aneamente es<span class=\"_ _1\"></span>tinguere la passivit\u00e0).<span class=\"_ _8\"></span> </span>Le <span class=\"_ _3\"></span>attivit\u00e0 finanziarie non <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutate al <span class=\"_ _3\"></span>fair value <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ilevato nell\u2019utile <span class=\"_ _3\"></span>o perdita d\u2019<span class=\"_ _3\"></span>eserciz<span class=\"_ _1\"></span>io sono <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alutate inizialmente<span class=\"_ _26a\"> </span>al <span class=\"_ _2\"></span>lor<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span><span class=\"ff7\">fair <span class=\"_ _3\"></span>value<span class=\"ff2\"> <span class=\"_ _3\"></span>(valore equo) <span class=\"_ _2\"></span>pi\u00f9 <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>dell'operaz<span class=\"_ _1\"></span>ione <span class=\"_ _3\"></span>direttamente att<span class=\"_ _3\"></span>ribu<span class=\"_ _1\"></span>ib<span class=\"_ _1\"></span>ili <span class=\"_ _3\"></span>all'acquisizione <span class=\"_ _3\"></span>o <span class=\"_ _3\"></span>all'emiss<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span></span></span>dell'attivit\u00e0.<span class=\"_ _1\"></span> In <span class=\"_ _8\"></span>relazi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>valore <span class=\"_ _8\"></span>delle <span class=\"_ _11\"></span>attivit\u00e0 <span class=\"_ _8\"></span>fin<span class=\"_ _1\"></span>anziarie, <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>applica <span class=\"_ _11\"></span>un <span class=\"_ _8\"></span>modello <span class=\"_ _11\"></span>basato <span class=\"_ _11\"></span>sulle <span class=\"_ _8\"></span>perdite<span class=\"_ _26a\"> </span>attese <span class=\"_ _21\"> </span>sui<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>crediti <span class=\"_ _1e\"> </span>ad <span class=\"_ _21\"> </span>o<span class=\"_ _1\"></span>gni <span class=\"_ _1e\"> </span>data <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>bilancio <span class=\"_ _1e\"> </span>per <span class=\"_ _21\"> </span>rif<span class=\"_ _1\"></span>lettere <span class=\"_ _1e\"> </span>le <span class=\"_ _21\"> </span>vari<span class=\"_ _1\"></span>azioni<span class=\"_ _8\"></span> <span class=\"_ _21\"> </span>ne<span class=\"_ _1\"></span>l <span class=\"_ _21\"> </span>rischio<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>redito<span class=\"_ _26a\"> </span>intervenute dalla ri<span class=\"_ _1\"></span>levazione iniziale de<span class=\"_ _1\"></span>ll\u2019attivit\u00e0 finanzi<span class=\"_ _1\"></span>aria.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.11 Attivit\u00e0 e passivit\u00e0 n<span class=\"_ _1\"></span>on correnti d<span class=\"_ _1\"></span>estinate alla d<span class=\"_ _1\"></span>ismissione<span class=\"_ _8\"></span> In questa voce vanno c<span class=\"_ _1\"></span>lassificate le attivit\u00e0 p<span class=\"_ _1\"></span>ossedute per la<span class=\"_ _1\"></span> vendita e la dism<span class=\"_ _1\"></span>issione quando:<span class=\"_ _8\"></span> a)<span class=\"ls1\">  l<span class=\"ff5\">\u2019<span class=\"_ _3\"></span>attivit\u00e0 \u00e8 im<span class=\"_ _1\"></span>mediatamente <span class=\"_ _1\"></span>disponibile per la<span class=\"_ _1\"></span> vendita;<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span></span>b)<span class=\"ls1\">  la vendita \u00e8 altamente probabile entro <span class=\"_ _1\"></span>un anno;<span class=\"_ _1\"></span> </span>c)<span class=\"ls1\">  il man<span class=\"_ _1\"></span>agement \u00e8 impeg<span class=\"_ _1\"></span>nato nella vendita;<span class=\"_ _1\"></span> </span>d)<span class=\"ls1\">  si hanno a disposizione prez<span class=\"_ _1\"></span>zi e quotazioni ragionev<span class=\"_ _1\"></span>oli;<span class=\"_ _1\"></span> </span>e)<span class=\"ls1\">  \u00e8 i<span class=\"_ _3\"></span>mprob<span class=\"_ _1\"></span>abile il cambiamen<span class=\"_ _1\"></span>to del piano di <span class=\"_ _1\"></span>dismissione;<span class=\"_ _1\"></span> </span>f)<span class=\"ls1\"> <span class=\"_ _100\"> </span><span class=\"ff5\">c\u2019\u00e8 la ricerca attiva <span class=\"_ _1\"></span>di un compratore.<span class=\"_ _1\"></span></span> </span>Tali attivit\u00e0 sono va<span class=\"_ _1\"></span>lutate al minore <span class=\"_ _1\"></span>tra il valore c<span class=\"_ _1\"></span>ontabile ed il <span class=\"_ _8\"></span><span class=\"ff7\">fair value<span class=\"_ _1\"></span></span> al netto dei<span class=\"_ _1\"></span> costi di vend<span class=\"_ _1\"></span>ita. Una volta<span class=\"_ _26a\"> </span>riclassificate in tale categ<span class=\"_ _1\"></span>oria l\u2019ammortamen<span class=\"_ _1\"></span>to cessa.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.12 Partecipazion<span class=\"_ _1\"></span>i in societ\u00e0 coll<span class=\"_ _1\"></span>egate Una <span class=\"_ _11\"></span>collegata <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _11\"></span>sulla <span class=\"_ _20\"></span>quale <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>eserc<span class=\"_ _1\"></span>ita <span class=\"_ _11\"></span>un\u2019influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole. <span class=\"_ _20\"></span>Per <span class=\"_ _11\"></span>influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>intende <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>potere <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>partec<span class=\"_ _1\"></span>ipare <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>deter<span class=\"_ _1\"></span>minazione <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _20\"></span>finanziarie <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>gestionali <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>partecip<span class=\"_ _1\"></span>ata<span class=\"_ _26a\"> </span>senza averne il co<span class=\"_ _1\"></span>ntrollo o il contro<span class=\"_ _1\"></span>llo congiunto.<span class=\"_ _1\"></span> Le <span class=\"_ _20\"></span>partecipazioni <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _20\"></span>collegate <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>valut<span class=\"_ _1\"></span>ate <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>metodo <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>patrim<span class=\"_ _1\"></span>onio <span class=\"_ _20\"></span>netto. <span class=\"_ _20\"></span>Con <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span>metodo <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>atrimonio <span class=\"_ _3\"></span>netto, <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>partecipazione i<span class=\"_ _3\"></span>n <span class=\"_ _3\"></span>una <span class=\"_ _3\"></span>societ\u00e0 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ollegata \u00e8 <span class=\"_ _2\"></span>inizialmente <span class=\"_ _3\"></span>rilevata <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>costo. <span class=\"_ _3\"></span>Il <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore<span class=\"_ _8\"></span> contabile <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipaz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>aumentato <span class=\"_ _8\"></span>o <span class=\"_ _11\"></span>diminuito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>rilevare <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>pertine<span class=\"_ _1\"></span>nza <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipa<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span>degli <span class=\"_ _8\"></span>utili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>perdite <span class=\"_ _8\"></span>della <span class=\"_ _11\"></span>partecipata <span class=\"_ _8\"></span>rea<span class=\"_ _1\"></span>lizzati <span class=\"_ _8\"></span>do<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>data <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acqu<span class=\"_ _1\"></span>isizione, <span class=\"_ _11\"></span>tenendo <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cons<span class=\"_ _1\"></span>iderazione<span class=\"_ _1\"></span> l\u2019eventuale effetto de<span class=\"_ _1\"></span>ll\u2019elimina<span class=\"_ _1\"></span><span class=\"ff2\">zione di margini in<span class=\"_ _1\"></span>fragruppo non real<span class=\"_ _1\"></span>izzati.<span class=\"_ _1\"></span> </span>Il conto economico rif<span class=\"_ _1\"></span>lette la quota <span class=\"_ _1\"></span>di pertinenza del G<span class=\"_ _1\"></span>ruppo del risultato d<span class=\"_ _1\"></span>\u2019esercizio della societ\u00e0 co<span class=\"_ _1\"></span>llegata. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>La <span class=\"_ _2\"></span>quota <span class=\"_ _3\"></span>aggregata <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>perti<span class=\"_ _1\"></span>nenza <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>isultato <span class=\"_ _2\"></span>d\u2019<span class=\"_ _1\"></span>esercizio <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>lle <span class=\"_ _2\"></span>societ\u00e0 <span class=\"_ _3\"></span>collegate <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>r<span class=\"_ _11\"></span><span class=\"ff2\">ilevata <span class=\"_ _2\"></span>nel <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span></span>economico <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>rappresent<span class=\"_ _1\"></span>a <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>al <span class=\"_ _23\"> </span>netto <span class=\"_ _23\"> </span>delle <span class=\"_ _23\"> </span>impos<span class=\"_ _1\"></span>te <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>quote <span class=\"_ _23\"> </span>spetta<span class=\"_ _1\"></span>nti <span class=\"_ _23\"></span>agli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"> </span>azionisti <span class=\"_ _23\"> </span>della<span class=\"_ _26a\"> </span>collegata.<span class=\"_ _26a\"> </span>Il <span class=\"_ _20\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>societ\u00e0<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>ollegate <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>predisposto<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>tessa <span class=\"_ _23\"></span>data <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>chiusura<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>bilanc<span class=\"_ _1\"></span>io <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>G<span class=\"_ _1\"></span>ruppo. <span class=\"_ _20\"></span>Ov<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>necessario, il bila<span class=\"_ _1\"></span>ncio \u00e8 rettificato per un<span class=\"_ _1\"></span>iformarlo ai pri<span class=\"_ _1\"></span>ncipi contabili di Gru<span class=\"_ _1\"></span>ppo.<span class=\"_ _1\"></span> 2.13 Rimanenze<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>ri<span class=\"_ _1\"></span>manenze <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>valutate <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>inore <span class=\"_ _11\"></span>tra <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>osto <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>re<span class=\"_ _1\"></span>alizzo. <span class=\"_ _11\"></span>Il <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>osto <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>deter<span class=\"_ _1\"></span>minato <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>bas<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>al<span class=\"_ _26a\"> </span>metodo del <span class=\"_ _1\"></span>costo m<span class=\"_ _1\"></span>edio <span class=\"_ _1\"></span>ponderato. I<span class=\"_ _1\"></span>l costo <span class=\"_ _1\"></span>dei pro<span class=\"_ _8\"></span>dotti finit<span class=\"_ _1\"></span>i e <span class=\"_ _1\"></span>dei prodot<span class=\"_ _1\"></span>ti in c<span class=\"_ _1\"></span>orso <span class=\"_ _1\"></span>di lavorazi<span class=\"_ _1\"></span>one com<span class=\"_ _1\"></span>prende<span class=\"_ _26a\"> </span>costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>materie <span class=\"_ _8\"></span>pr<span class=\"_ _1\"></span>ime, <span class=\"_ _8\"></span>cost<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>lavoro <span class=\"_ _11\"></span>diretto, <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>pese <span class=\"_ _11\"></span>generali <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>produzione<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>gli <span class=\"_ _8\"></span>altr<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>costi <span class=\"_ _8\"></span>diretti <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>indiretti<span class=\"_ _26a\"> </span>che <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>sostenuti <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>portare <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>rimane<span class=\"_ _1\"></span>nze <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>luogo <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>nelle <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>dizioni <span class=\"_ _8\"></span>at<span class=\"_ _8\"></span>tuali.<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Il <span class=\"_ _8\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _8\"></span>netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>realizz<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>\u00e8<span class=\"_ _26a\"> </span>determinato sulla base dei prezzi di vendita prevalen<span class=\"_ _1\"></span>ti al netto dei costi stimati di completamento<span class=\"_ _1\"></span> e di vendita.<span class=\"_ _1\"></span> Le <span class=\"_ _11\"></span>sc<span class=\"_ _1\"></span>orte <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>bsolete <span class=\"_ _20\"></span>o <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>ento <span class=\"_ _20\"></span>rigiro <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>svalutate <span class=\"_ _20\"></span>in <span class=\"_ _20\"></span>relazione <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>loro <span class=\"_ _20\"></span>presunt<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>poss<span class=\"_ _1\"></span>ibilit\u00e0 <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>utiliz<span class=\"_ _8\"></span>zo <span class=\"_ _20\"></span>o <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>realizzo futuro, mediant<span class=\"_ _1\"></span>e l\u2019iscrizione di un a<span class=\"_ _1\"></span>pposito fondo che va<span class=\"_ _1\"></span> a rettificare il va<span class=\"_ _1\"></span>lore delle riman<span class=\"_ _1\"></span>enze.<span class=\"_ _26a\"> </span><span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.14 Crediti comme<span class=\"_ _1\"></span>rciali Sono definibili strumenti finanziari. La rilevazio<span class=\"_ _1\"></span>ne iniziale avviene al <span class=\"_ _1\"></span><span class=\"ff7\">fair value</span>; per i crediti commercial<span class=\"_ _1\"></span>i privi di<span class=\"_ _26a\"> </span>una <span class=\"_ _21\"> </span>signif<span class=\"_ _1\"></span>icativa <span class=\"_ _21\"> </span>com<span class=\"_ _1\"></span>ponente <span class=\"_ _1e\"> </span>finanziaria <span class=\"_ _1e\"> </span>il <span class=\"_ _21\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _21\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>rilevazio<span class=\"_ _1\"></span>ne <span class=\"_ _21\"> </span>iniziale<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8 <span class=\"_ _1e\"> </span>rappresentato <span class=\"_ _1e\"> </span>dal <span class=\"_ _1e\"> </span>prezzo <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span>transazione. <span class=\"_ _23\"></span>La <span class=\"_ _20\"></span>va<span class=\"_ _1\"></span>lutazione <span class=\"_ _23\"> </span>della <span class=\"_ _23\"></span>recuperabilit\u00e0 <span class=\"_ _23\"> </span>dei <span class=\"_ _23\"></span>crediti <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>effettua<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ulla <span class=\"_ _23\"></span>base <span class=\"_ _23\"></span>del <span class=\"_ _20\"></span>cd. <span class=\"_ _21\"> </span><span class=\"ff7\">Expected <span class=\"_ _23\"> </span>Credit<span class=\"_ _1\"></span> </span>Losses model<span class=\"ff2\"> <span class=\"ff5\">prev<span class=\"_ _1\"></span>isto dall\u2019<span class=\"_ _1\"></span>IFRS 9.</span> </span>I c<span class=\"_ _1\"></span>rediti commerc<span class=\"_ _1\"></span>iali <span class=\"_ _1\"></span>sono r<span class=\"_ _1\"></span>ilevati <span class=\"_ _1\"></span>inizialmente <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>value</span> <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>success<span class=\"_ _1\"></span>ivamente <span class=\"_ _1\"></span>valutati <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>costo <span class=\"_ _1\"></span>ammortizz<span class=\"_ _1\"></span>ato,<span class=\"_ _26a\"> </span>utilizzando <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>me<span class=\"_ _1\"></span>todo <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span><span class=\"ff5\">\u2019interesse <span class=\"_ _8\"></span>eff<span class=\"_ _1\"></span>ettivo. <span class=\"_ _8\"></span>Son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>iscritti <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>fondo <span class=\"_ _8\"></span>sv<span class=\"_ _1\"></span>alutazione,<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>esposto <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>diretta<span class=\"_ _26a\"> </span></span>deduzione de<span class=\"_ _1\"></span>i crediti stes<span class=\"_ _1\"></span>si per portare <span class=\"_ _1\"></span>la valutazion<span class=\"_ _1\"></span>e al loro <span class=\"_ _1\"></span>presunto v<span class=\"_ _1\"></span>alore di re<span class=\"_ _1\"></span>alizzo. Le perd<span class=\"_ _1\"></span>ite attese <span class=\"_ _1\"></span>sui<span class=\"_ _26a\"> </span>crediti <span class=\"_ _11\"></span>commerc<span class=\"_ _1\"></span>iali <span class=\"_ _11\"></span>sono <span class=\"_ _20\"></span>stimate <span class=\"_ _11\"></span>ut<span class=\"_ _1\"></span>ilizzando <span class=\"_ _11\"></span>un<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>mat<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>ce <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>accan<span class=\"_ _1\"></span>tonamento <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>fasce <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>scad<span class=\"_ _1\"></span>uto, <span class=\"_ _11\"></span>facend<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>riferimento  alla <span class=\"_ _1e\"> </span>propri<span class=\"_ _1\"></span>a <span class=\"_ _1f\"> </span>esperienza  storica  in <span class=\"_ _1e\"> </span>materi<span class=\"_ _1\"></span>a <span class=\"_ _1f\"> </span>di  pe<span class=\"_ _3\"></span>rdite  su <span class=\"_ _1e\"> </span>cr<span class=\"_ _1\"></span>editi,  ad <span class=\"_ _1e\"> </span>un\u2019analisi  della  po<span class=\"_ _3\"></span>siz<span class=\"_ _1\"></span>ione<span class=\"_ _26a\"> </span>finanziaria <span class=\"_ _27\"> </span>dei <span class=\"_ _27\"> </span>creditori,<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>orretta <span class=\"_ _27\"> </span>per <span class=\"_ _27\"> </span>comprendere <span class=\"_ _12\"> </span>fattori <span class=\"_ _26\"> </span>spec<span class=\"_ _1\"></span>ifici <span class=\"_ _26\"> </span>d<span class=\"_ _1\"></span>el <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>reditore <span class=\"_ _27\"> </span>e <span class=\"_ _27\"> </span>ad <span class=\"_ _27\"> </span>una <span class=\"_ _27\"> </span>va<span class=\"_ _11\"></span>lutazione<span class=\"_ _26a\"> </span>dell\u2019evoluzione corrent<span class=\"_ _1\"></span>e e prevista di ta<span class=\"_ _1\"></span>li fattori alla dat<span class=\"_ _1\"></span>a di riferimento <span class=\"_ _1\"></span>del bilancio.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Un <span class=\"_ _3\"></span>accantonam<span class=\"_ _1\"></span>ento per <span class=\"_ _2\"></span>pe<span class=\"_ _1\"></span>rdita <span class=\"_ _3\"></span>di valore <span class=\"_ _3\"></span>dei crediti <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ommercial<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>\u00e8 rilevato <span class=\"_ _2\"></span>q<span class=\"_ _1\"></span>uando vi <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>l\u2019obiettiva evidenza che<span class=\"_ _26a\"> </span>il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sar\u00e0<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>grado <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>incass<span class=\"_ _1\"></span>are <span class=\"_ _11\"></span>tu<span class=\"_ _1\"></span><span class=\"ff5\">tti <span class=\"_ _20\"></span>gli <span class=\"_ _11\"></span>am<span class=\"_ _1\"></span>montari <span class=\"_ _11\"></span>seco<span class=\"_ _1\"></span>ndo <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>origina<span class=\"_ _1\"></span>rie <span class=\"_ _11\"></span>condizion<span class=\"_ _1\"></span>i. <span class=\"_ _11\"></span>L\u2019amm<span class=\"_ _1\"></span>ontare<span class=\"_ _26a\"> </span></span>dell\u2019accantonamento<span class=\"_ _1\"></span> \u00e8 imputato al conto ec<span class=\"_ _1\"></span>onomico.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Operazioni di facto<span class=\"_ _1\"></span>ring<span class=\"_ _26a\"> </span>Il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _8\"></span>pu\u00f2 <span class=\"_ _8\"></span>avva<span class=\"_ _1\"></span>lersi <span class=\"_ _8\"></span>dello <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>cession<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>parte <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>propri <span class=\"_ _8\"></span>crediti <span class=\"_ _8\"></span>commerc<span class=\"_ _1\"></span>iali <span class=\"_ _8\"></span>attravers<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>operazioni <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>factoring <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>particolar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>pu\u00f2 <span class=\"_ _1\"></span>far <span class=\"_ _8\"></span>ricorso <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>cessioni <span class=\"_ _1\"></span>pro<span class=\"_ _8\"></span>-soluto <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>crediti <span class=\"_ _1\"></span>com<span class=\"_ _1\"></span>merciali. <span class=\"_ _1\"></span>A <span class=\"_ _8\"></span>seguito<span class=\"_ _26a\"> </span>di <span class=\"_ _1\"></span>tali <span class=\"_ _8\"></span>eventuali <span class=\"_ _1\"></span>cessi<span class=\"_ _1\"></span>oni, <span class=\"_ _1\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>prevedono <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>tras<span class=\"_ _1\"></span>ferimento <span class=\"_ _8\"></span>pressoch\u00e9 <span class=\"_ _8\"></span>totale <span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>incondizionato <span class=\"_ _8\"></span>al <span class=\"_ _1\"></span>cessi<span class=\"_ _1\"></span>onario <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>rischi e benefici relativi ai<span class=\"_ _1\"></span> credit<span class=\"_ _1\"></span>i ceduti, i credit<span class=\"_ _1\"></span>i stessi vengono <span class=\"_ _1\"></span>eliminati dal bilanc<span class=\"_ _1\"></span>io.<span class=\"_ _1\"></span> 2.15 Debiti commer<span class=\"_ _1\"></span>ciali<span class=\"_ _26a\"> </span>I <span class=\"_ _1e\"> </span>debiti <span class=\"_ _1e\"> </span>com<span class=\"_ _1\"></span>merciali <span class=\"_ _1e\"> </span>e <span class=\"_ _1f\"> </span>gli <span class=\"_ _1e\"> </span>altri <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>biti, <span class=\"_ _1e\"> </span>la <span class=\"_ _1e\"> </span>cu<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>scadenz<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>rientra <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>ei <span class=\"_ _1e\"> </span>normali <span class=\"_ _1e\"> </span>t<span class=\"_ _1\"></span>ermini <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>mmerciali, <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ono<span class=\"_ _26a\"> </span>attualizzati  e  sono  iscritt<span class=\"_ _1\"></span>i  al  costo  (identificato <span class=\"_ _26\"> </span>dal  valore <span class=\"_ _26\"> </span>nominale),<span class=\"_ _1\"></span>  rappresentativo <span class=\"_ _90\"> </span>del  l<span class=\"_ _1\"></span>oro  valore  di<span class=\"_ _26a\"> </span>estinzione.<span class=\"_ _26a\"> </span>2.16 Disponibilit\u00e0 liquide <span class=\"_ _1\"></span>e mezzi equiv<span class=\"_ _1\"></span>alenti<span class=\"_ _1\"></span> Le disponibilit\u00e0 <span class=\"_ _1\"></span>liquide e <span class=\"_ _1\"></span>mez<span class=\"_ _1\"></span>zi equivalent<span class=\"_ _1\"></span>i comprend<span class=\"_ _1\"></span>ono la <span class=\"_ _1\"></span>cassa c<span class=\"_ _1\"></span>ontanti, i d<span class=\"_ _1\"></span>epositi a v<span class=\"_ _1\"></span>ista press<span class=\"_ _1\"></span>o banche <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>gli <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nvestimenti <span class=\"_ _11\"></span>finanziari <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>breve <span class=\"_ _8\"></span>t<span class=\"_ _8\"></span>ermine <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>scadenze <span class=\"_ _11\"></span>originali <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>tre<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>mesi <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>inferiori <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>ta <span class=\"_ _11\"></span>liquidit\u00e0, <span class=\"_ _11\"></span>al<span class=\"_ _26a\"> </span>netto <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>orrenti <span class=\"_ _11\"></span>passivi. <span class=\"_ _11\"></span>Nella <span class=\"_ _11\"></span>situazione <span class=\"_ _11\"></span>patrimoniale <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>conti <span class=\"_ _11\"></span>correnti <span class=\"_ _11\"></span>bancari <span class=\"_ _11\"></span>passivi <span class=\"_ _11\"></span>sono <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _11\"></span>tra <span class=\"_ _11\"></span>i<span class=\"_ _26a\"> </span>finanziamenti a breve t<span class=\"_ _1\"></span>ermine nel<span class=\"_ _1\"></span>le passivit\u00e0 correnti.<span class=\"_ _8\"></span> Ai fini del <span class=\"_ _3\"></span>rendiconto finanziario consolidato le disponibilit\u00e0 liquide sono esposte <span class=\"_ _3\"></span>al netto degli scoperti bancari<span class=\"_ _26a\"> </span>alla data di chiusura <span class=\"_ _1\"></span>del periodo.<span class=\"_ _1\"></span> 2.17 Capitale sociale<span class=\"_ _1\"></span> Le azioni ordinarie so<span class=\"_ _1\"></span>no class<span class=\"_ _1\"></span>ificate nel patrimonio n<span class=\"_ _1\"></span>etto.<span class=\"_ _1\"></span> Quando <span class=\"_ _23\"></span>una <span class=\"_ _20\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>G<span class=\"_ _1\"></span>ruppo<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>ista <span class=\"_ _20\"></span>az<span class=\"_ _1\"></span>ioni <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _23\"></span>Capogruppo, <span class=\"_ _23\"></span>il <span class=\"_ _20\"></span>corr<span class=\"_ _1\"></span>ispettivo <span class=\"_ _23\"></span>pagato <span class=\"_ _23\"></span>comprensivo <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span>qualsiasi <span class=\"_ _1\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>attrib<span class=\"_ _1\"></span>uibile <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>transazione <span class=\"_ _8\"></span>al <span class=\"_ _1\"></span>netto <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>relativo <span class=\"_ _8\"></span>effetto <span class=\"_ _8\"></span>fiscale <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>edotto, <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>azioni <span class=\"_ _1\"></span>pro<span class=\"_ _1\"></span>prie,<span class=\"_ _26a\"> </span>dal totale del patr<span class=\"_ _1\"></span>imonio ne<span class=\"_ _1\"></span>tto di pertinenza d<span class=\"_ _1\"></span>el Gruppo fino<span class=\"_ _8\"></span> a quando es<span class=\"_ _1\"></span>se non sarann<span class=\"_ _1\"></span>o eliminate o<span class=\"_ _1\"></span> vendute.<span class=\"_ _26a\"> </span>Qualsiasi corrisp<span class=\"_ _1\"></span>ettivo i<span class=\"_ _1\"></span>ncassato <span class=\"_ _1\"></span>per la<span class=\"_ _1\"></span> loro <span class=\"_ _1\"></span>vendita, <span class=\"_ _1\"></span>al nett<span class=\"_ _1\"></span>o dei <span class=\"_ _1\"></span>costi <span class=\"_ _1\"></span>di transaz<span class=\"_ _1\"></span>ione d<span class=\"_ _1\"></span>irettamente <span class=\"_ _1\"></span>attribuibili <span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>del relativo effetto fisc<span class=\"_ _1\"></span>ale, viene rilevato ne<span class=\"_ _1\"></span>l patrimonio netto di<span class=\"_ _1\"></span> pertinenza del Gru<span class=\"_ _1\"></span>ppo.<span class=\"_ _1\"></span> In accordo con qu<span class=\"_ _1\"></span>anto prev<span class=\"_ _1\"></span>isto dal principio<span class=\"_ _1\"></span> contabile internazi<span class=\"_ _1\"></span>onale IAS 32,<span class=\"_ _1\"></span> i costi sosten<span class=\"_ _1\"></span>uti per l\u2019a<span class=\"_ _1\"></span>umento di<span class=\"_ _26a\"> </span>capitale soc<span class=\"_ _1\"></span>iale, (oss<span class=\"_ _1\"></span>ia spese <span class=\"_ _1\"></span>di registro<span class=\"_ _1\"></span> o <span class=\"_ _1\"></span>altri o<span class=\"_ _1\"></span>neri dov<span class=\"_ _1\"></span>uti alla <span class=\"_ _1\"></span>autorit\u00e0 <span class=\"_ _1\"></span>di reg<span class=\"_ _1\"></span>olamentazione, <span class=\"_ _1\"></span>importi pa<span class=\"_ _1\"></span>gati a<span class=\"_ _1\"></span> consulenti <span class=\"_ _21\"> </span>l<span class=\"_ _1\"></span>egali, <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span>tabili <span class=\"_ _1e\"> </span>e <span class=\"_ _21\"> </span>a<span class=\"_ _1\"></span>d <span class=\"_ _21\"> </span>altri <span class=\"_ _1e\"> </span>professionisti, <span class=\"_ _1e\"> </span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _21\"> </span>di <span class=\"_ _1e\"> </span>stampa, <span class=\"_ _1e\"> </span>imposte <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>registro<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>bollo), <span class=\"_ _21\"> </span>sono<span class=\"_ _1\"></span> contabilizzati come <span class=\"_ _1\"></span>una diminuzione di patri<span class=\"_ _1\"></span>monio netto, al ne<span class=\"_ _1\"></span>tto di qualsiasi ben<span class=\"_ _1\"></span>eficio fiscale connes<span class=\"_ _1\"></span>so, nella<span class=\"_ _26a\"> </span>misura <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>cui <span class=\"_ _12\"> </span>hanno <span class=\"_ _27\"> </span>n<span class=\"_ _1\"></span>atura <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>cost<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>margi<span class=\"_ _1\"></span>nali <span class=\"_ _12\"> </span>direttament<span class=\"_ _1\"></span><span class=\"ff5\">e <span class=\"_ _12\"> </span>attribuibili <span class=\"_ _12\"> </span>all\u2019operazione <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>ul <span class=\"_ _27\"> </span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _12\"> </span>che<span class=\"_ _26a\"> </span></span>diversamente sar<span class=\"_ _1\"></span>ebbero stati evitat<span class=\"_ _1\"></span>i.<span class=\"_ _26a\"> </span>2.18 Passivit\u00e0 finanzia<span class=\"_ _1\"></span>rie<span class=\"_ _26a\"> </span>Le <span class=\"_ _2\"></span>passiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie <span class=\"_ _2\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>conta<span class=\"_ _1\"></span>bilizzate <span class=\"_ _3\"></span>inizialmente <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>base al <span class=\"_ _2\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air <span class=\"_ _2\"></span>val<span class=\"_ _1\"></span>ue<span class=\"ff2\">, <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>net<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>dei <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>transazione<span class=\"_ _1\"></span> </span></span>sostenuti. <span class=\"_ _1\"></span><span class=\"ff5\">Successivame<span class=\"_ _1\"></span>nte sono <span class=\"_ _1\"></span>esposti <span class=\"_ _1\"></span>al costo<span class=\"_ _1\"></span> am<span class=\"_ _1\"></span>mortizzato; <span class=\"_ _1\"></span>il differenz<span class=\"_ _1\"></span>iale tr<span class=\"_ _1\"></span>a l\u2019ammo<span class=\"_ _1\"></span>ntare incass<span class=\"_ _1\"></span>ato, a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>trans<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>l\u2019ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>imbors<span class=\"_ _1\"></span>are <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>contabilizzato <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>econo<span class=\"_ _1\"></span>mico <span class=\"_ _8\"></span>su<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>base<span class=\"_ _26a\"> </span>della durata dei finanz<span class=\"_ _1\"></span>iamenti, utilizzando <span class=\"_ _1\"></span>il met<span class=\"_ _1\"></span>odo del tasso d<span class=\"_ _1\"></span>i interesse effettivo<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>Nel <span class=\"_ _11\"></span>caso <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>modificazioni <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sostanzi<span class=\"_ _1\"></span>ali <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>ini <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>uno <span class=\"_ _20\"></span>strumento <span class=\"_ _20\"></span>finanziario, <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>differenza <span class=\"_ _20\"></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _1\"></span> attuale dei flussi<span class=\"_ _1\"></span> cos\u00ec come<span class=\"_ _1\"></span> modificati (determ<span class=\"_ _1\"></span>inato utilizz<span class=\"_ _1\"></span>ando il tasso di i<span class=\"_ _1\"></span>nteresse effettivo<span class=\"_ _1\"></span> dello st<span class=\"_ _8\"></span>ru<span class=\"_ _1\"></span>mento in<span class=\"_ _26a\"> </span>essere alla data de<span class=\"_ _1\"></span>lla modifica) ed <span class=\"_ _1\"></span>il valore contabile <span class=\"_ _1\"></span>dello strumento \u00e8 <span class=\"_ _1\"></span>iscritta nel conto econo<span class=\"_ _1\"></span>mico.<span class=\"_ _8\"></span> I finanziamenti sono <span class=\"_ _3\"></span>classific<span class=\"_ _1\"></span>ati tra <span class=\"_ _3\"></span>le passivit\u00e0 correnti se il<span class=\"_ _3\"></span> Gruppo non ha <span class=\"_ _3\"></span>un diritto incondizionato di differire<span class=\"_ _26a\"> </span>l\u2019estinzione della pa<span class=\"ff2\">s<span class=\"_ _1\"></span>sivit\u00e0 per alme<span class=\"_ _1\"></span>no 12 mesi dopo l<span class=\"_ _1\"></span>a data di bilancio.<span class=\"_ _8\"></span> </span>Le passivit\u00e0<span class=\"_ _1\"></span> finanz<span class=\"_ _1\"></span>iarie son<span class=\"_ _1\"></span>o rimos<span class=\"_ _1\"></span>se dal<span class=\"_ _1\"></span>lo stato <span class=\"_ _1\"></span>patrimon<span class=\"_ _1\"></span>iale qua<span class=\"_ _1\"></span>ndo <span class=\"_ _1\"></span>la specif<span class=\"_ _1\"></span>ica obbligazio<span class=\"_ _1\"></span>ne contratt<span class=\"_ _1\"></span>uale <span class=\"_ _1\"></span>\u00e8<span class=\"_ _26a\"> </span>estinta. <span class=\"_ _1\"></span>Si <span class=\"_ _8\"></span>configura <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>un\u2019estinzione <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>modifica <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>termini<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>contrattuali <span class=\"_ _8\"></span>esistent<span class=\"_ _11\"></span><span class=\"ff2\">i, <span class=\"_ _1\"></span>qualora <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>nuove<span class=\"_ _26a\"> </span></span>condizioni abbiano mut<span class=\"_ _1\"></span>ato significativam<span class=\"_ _1\"></span>ente le pattuizioni or<span class=\"_ _1\"></span>iginarie.<span class=\"_ _1\"></span> Rientrano tra le passivit\u00e0 finanziarie inizialmente <span class=\"_ _3\"></span>valut<span class=\"_ _1\"></span>ate al <span class=\"ff7\">fair value</span> anche i debiti<span class=\"_ _3\"></span> per acquisto delle residue<span class=\"_ _26a\"> </span>quote di partecipazion<span class=\"_ _1\"></span>e di minoranza <span class=\"_ _1\"></span>oggetto di <span class=\"_ _1\"></span><span class=\"ff7\">Put&amp;Cal<span class=\"_ _1\"></span>l Option</span>.<span class=\"_ _26a\"> </span>2.19 Passivit\u00e0 derivante<span class=\"_ _1\"></span> da <span class=\"_ _1\"></span><span class=\"ffd\">Lease<span class=\"_ _1\"></span></span> La <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>leas<span class=\"_ _1\"></span>ing <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>rilevata <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>ad <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>pari <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>valore<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>attuale <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>pag<span class=\"_ _1\"></span>amenti <span class=\"_ _8\"></span>dovuti<span class=\"_ _26a\"> </span>no<span class=\"ls1\">n v<span class=\"_ _1\"></span>ersati <span class=\"_ _1\"></span>alla <span class=\"_ _1\"></span>data<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i d<span class=\"_ _1\"></span>ecorrenza, <span class=\"_ _1\"></span>attualizzat<span class=\"_ _1\"></span>i u<span class=\"_ _1\"></span>tilizzando <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>ciasc<span class=\"_ _1\"></span>un c<span class=\"_ _1\"></span>ontratto <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>tasso <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>interesse <span class=\"_ _1\"></span>implicito<span class=\"_ _26a\"> </span></span>del <span class=\"_ _2\"></span>leasing <span class=\"_ _3\"></span>ovvero, qu<span class=\"_ _3\"></span>alora no<span class=\"_ _3\"></span>n <span class=\"_ _2\"></span>foss<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>fac<span class=\"_ _1\"></span>ilmente <span class=\"_ _2\"></span>det<span class=\"_ _1\"></span>erminabile, <span class=\"_ _3\"></span>utilizzando i<span class=\"_ _3\"></span>l <span class=\"_ _2\"></span>tass<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>finanziamento marginale<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span>Quest\u2019ultimo <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>definito <span class=\"_ _1\"></span>ten<span class=\"_ _1\"></span>en<span class=\"ff2\">do <span class=\"_ _8\"></span>conto <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>periodic<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>pag<span class=\"_ _1\"></span>amenti, <span class=\"_ _1\"></span>della <span class=\"_ _8\"></span>durata <span class=\"_ _1\"></span>dei <span class=\"_ _8\"></span>pagamenti <span class=\"_ _1\"></span>prev<span class=\"_ _1\"></span>isti <span class=\"_ _1\"></span>dal<span class=\"_ _1\"></span> </span>contratto  di <span class=\"_ _1e\"> </span>leasing,  del  Paese <span class=\"_ _1e\"> </span>e  della  <span class=\"ff7\">Business  Unit</span>  di <span class=\"_ _1e\"> </span>app<span class=\"_ _1\"></span>artenenza  del <span class=\"_ _1e\"> </span>lo<span class=\"_ _1\"></span>catario.  I <span class=\"_ _1e\"> </span>pagament<span class=\"_ _1\"></span>i <span class=\"_ _1f\"> </span>futuri<span class=\"_ _26a\"> </span>considerati nel calco<span class=\"_ _1\"></span>lo della passivit\u00e0 sono <span class=\"_ _1\"></span>i seguenti: <span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamenti fissi, al nett<span class=\"_ _1\"></span>o di eventual<span class=\"_ _1\"></span>i incentivi da riceve<span class=\"_ _1\"></span>re;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamenti variabi<span class=\"_ _1\"></span>li; </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Stima del pagament<span class=\"_ _1\"></span>o a titolo di gara<span class=\"_ _1\"></span>nzia del valore resi<span class=\"_ _1\"></span>duo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Pagamento <span class=\"_ _1\"></span>del prez<span class=\"_ _1\"></span>zo <span class=\"_ _1\"></span>di es<span class=\"_ _1\"></span>ercizio del<span class=\"_ _1\"></span>l\u2019opzione d<span class=\"_ _1\"></span>i acq<span class=\"_ _1\"></span>uisto, s<span class=\"_ _1\"></span>e il <span class=\"_ _1\"></span>locatario <span class=\"_ _1\"></span>\u00e8 ra<span class=\"_ _1\"></span>gionevolmen<span class=\"_ _1\"></span>te cert<span class=\"_ _1\"></span>o di<span class=\"_ _26a\"> </span></span></span>esercitarla;<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>Pagamento <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>penalit\u00e0 <span class=\"_ _2\"></span>contr<span class=\"_ _1\"></span>attuali <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>la <span class=\"_ _2\"></span>risoluzione <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _2\"></span>leasi<span class=\"_ _1\"></span>ng, <span class=\"_ _2\"></span>se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>locatario <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _3\"></span>ragionevolmente <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>erto<span class=\"_ _26a\"> </span></span>di esercitare tale opzi<span class=\"_ _1\"></span>one.<span class=\"_ _1\"></span> Dopo <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>rilevazione <span class=\"_ _8\"></span>inizial<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>leasi<span class=\"_ _1\"></span>ng <span class=\"_ _8\"></span>viene <span class=\"_ _8\"></span>success<span class=\"_ _1\"></span>ivamente <span class=\"_ _8\"></span>incrementata <span class=\"_ _8\"></span>dagl<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>interessi <span class=\"_ _8\"></span>che<span class=\"_ _26a\"> </span>maturano, diminuita <span class=\"_ _3\"></span>dei pagamenti <span class=\"_ _3\"></span>dovuti per <span class=\"_ _3\"></span>leasing ed <span class=\"_ _3\"></span>eventualmente rivalutata <span class=\"_ _3\"></span>in caso <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>modifica dei <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>uturi<span class=\"_ _26a\"> </span>pagamenti in relaz<span class=\"_ _1\"></span>ione a:<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Una variazione dell\u2019in<span class=\"_ _1\"></span>dice o del tass<span class=\"_ _1\"></span>o;<span class=\"_ _1\"></span></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Modifica dell\u2019import<span class=\"_ _1\"></span>o che il Gruppo prevede <span class=\"_ _1\"></span>di dover pagare a titol<span class=\"_ _1\"></span>o di garanzia s<span class=\"_ _1\"></span>ul <span class=\"_ _1\"></span></span>va<span class=\"_ _1\"></span>lore residuo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">Modifica della stima d<span class=\"_ _1\"></span>ell\u2019esercizio o me<span class=\"_ _1\"></span>no di un\u2019opzione di<span class=\"_ _1\"></span> acquisto, proroga o ris<span class=\"_ _1\"></span>oluzione.<span class=\"_ _8\"></span></span> </span>La <span class=\"_ _11\"></span>passivit\u00e0 <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>lease <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>consid<span class=\"_ _1\"></span>erata <span class=\"_ _11\"></span>dal <span class=\"_ _11\"></span>Gruppo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>atura <span class=\"_ _11\"></span>finanziaria <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>pertanto<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>inclusa <span class=\"_ _11\"></span>nel <span class=\"_ _11\"></span>calcolo <span class=\"_ _11\"></span>della<span class=\"_ _26a\"> </span>posizione finanziaria <span class=\"_ _1\"></span>netta.<span class=\"_ _1\"></span> 2.20 Imposte <span class=\"_ _1\"></span> Le imposte correnti son<span class=\"_ _1\"></span>o le imposte acc<span class=\"_ _1\"></span>antonate in conform<span class=\"_ _1\"></span>it\u00e0 alla normativa <span class=\"_ _1\"></span>in vigore <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>lla data di riferi<span class=\"_ _1\"></span>ment<span class=\"_ _26a\"> </span>o<span class=\"_ _26a\"> </span>della situazione patrimon<span class=\"_ _1\"></span>iale-<span class=\"_ _1\"></span>finanziaria nei vari paesi in c<span class=\"_ _1\"></span>ui opera il Gruppo; comprendono i<span class=\"_ _1\"></span>noltre <span class=\"_ _1\"></span>le rettifich<span class=\"_ _26a\"> </span>e<span class=\"_ _26a\"> </span>alle imposte di eserc<span class=\"_ _1\"></span>izi prec<span class=\"_ _1\"></span>edenti.<span class=\"_ _26a\"> </span>Le imposte<span class=\"_ _1\"></span> antici<span class=\"_ _1\"></span>pate e <span class=\"_ _1\"></span>differite <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>iscritte <span class=\"_ _1\"></span>in m<span class=\"_ _1\"></span>odo <span class=\"_ _1\"></span>da r<span class=\"_ _1\"></span>iflettere tutte<span class=\"_ _1\"></span> le <span class=\"_ _1\"></span>differen<span class=\"_ _1\"></span>ze tempora<span class=\"_ _1\"></span>nee es<span class=\"_ _1\"></span>istenti <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span>data del <span class=\"_ _3\"></span>bilancio tra il valore attri<span class=\"_ _3\"></span>buito ad una attivit\u00e0/passivit\u00e0 ai fini fiscali <span class=\"_ _3\"></span>e quello attribuito secondo i <span class=\"_ _3\"></span>princip<span class=\"_ _26a\"> </span>i<span class=\"_ _26a\"> </span>contabili applicati.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>imposte <span class=\"_ _11\"></span>differite <span class=\"_ _8\"></span>attive <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>imposte <span class=\"_ _8\"></span>differ<span class=\"_ _1\"></span>ite <span class=\"_ _8\"></span>passive <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>calcolate<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>aliquot<span class=\"_ _26a\"> </span>e<span class=\"_ _26a\"> </span>fiscali stabilite dalla norm<span class=\"_ _1\"></span>ativa vigente.<span class=\"_ _1\"></span> Le attivit\u00e0 <span class=\"_ _3\"></span>per le imposte anticipate sono contabilizzate su <span class=\"_ _3\"></span>tutte le di<span class=\"_ _3\"></span>fferen<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>e temporanee, nella misura in <span class=\"_ _3\"></span>cui \u00e8<span class=\"_ _26a\"> </span>probabile <span class=\"_ _20\"></span>che <span class=\"_ _11\"></span>sar\u00e0 <span class=\"_ _20\"></span>re<span class=\"_ _1\"></span>alizzato <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>reddito <span class=\"_ _20\"></span>imponibile <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>fronte <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _20\"></span>quale <span class=\"_ _20\"></span>possa <span class=\"_ _20\"></span>essere <span class=\"_ _20\"></span>utilizzata <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>differenz<span class=\"_ _26a\"> </span>a<span class=\"_ _26a\"> </span>temporanea deduc<span class=\"_ _1\"></span>ibile.<span class=\"_ _26a\"> </span>Lo <span class=\"_ _11\"></span>stess<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>principio <span class=\"_ _20\"></span>si <span class=\"_ _20\"></span>appli<span class=\"_ _1\"></span>ca <span class=\"_ _11\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _11\"></span>contabi<span class=\"_ _1\"></span>lizzazione <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>imposte <span class=\"_ _20\"></span>diff<span class=\"_ _8\"></span>erite<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>att<span class=\"_ _1\"></span>ive <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ulle <span class=\"_ _20\"></span>perdite<span class=\"_ _26a\"> </span>fiscali.<span class=\"_ _26a\"> </span>Il <span class=\"_ _3\"></span>valore contabile delle attivit\u00e0 <span class=\"_ _3\"></span>fiscali differite viene <span class=\"_ _3\"></span>rivisto a ciascuna <span class=\"_ _3\"></span>data di bilancio <span class=\"_ _3\"></span>ed eventualmente ridotto<span class=\"_ _26a\"> </span>nella <span class=\"_ _2\"></span>misura<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _2\"></span>cui non <span class=\"_ _2\"></span>sia <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _2\"></span>proba<span class=\"_ _1\"></span>bile <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>alizzare <span class=\"_ _3\"></span>un <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eddito <span class=\"_ _3\"></span>imponibile <span class=\"_ _3\"></span>sufficiente, tal<span class=\"_ _3\"></span>e <span class=\"_ _3\"></span>da <span class=\"_ _3\"></span>cons<span class=\"_ _8\"></span>entirne <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>utto,<span class=\"_ _26a\"> </span>o <span class=\"_ _3\"></span>in parte, il <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ecupero delle atti<span class=\"_ _3\"></span>vit\u00e0. Tali attivit\u00e0 <span class=\"_ _3\"></span>vengono ripristinate nel <span class=\"_ _3\"></span>caso in <span class=\"_ _3\"></span>cui vengano meno le <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>ndizioni<span class=\"_ _26a\"> </span>che ne hanno deter<span class=\"_ _1\"></span>minato lo stralcio. <span class=\"_ _1\"></span> La <span class=\"_ _23\"></span>regola <span class=\"_ _23\"> </span>gen<span class=\"_ _1\"></span>erale <span class=\"_ _23\"> </span>preved<span class=\"_ _1\"></span>e <span class=\"_ _23\"></span>che, <span class=\"_ _23\"> </span>salvo<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>specifiche <span class=\"_ _23\"> </span>ec<span class=\"_ _1\"></span>cezioni, <span class=\"_ _23\"> </span>le <span class=\"_ _21\"> </span>imposte <span class=\"_ _23\"> </span>differit<span class=\"_ _1\"></span>e <span class=\"_ _21\"> </span>pass<span class=\"_ _1\"></span>ive <span class=\"_ _23\"> </span>debbano <span class=\"_ _21\"> </span>essere<span class=\"_ _26a\"> </span>sempre rilevate.<span class=\"_ _1\"></span> Il <span class=\"_ _26\"> </span>Gruppo <span class=\"_ _27\"> </span>analizza <span class=\"_ _27\"> </span>gli <span class=\"_ _27\"> </span><span class=\"ff7\">unc<span class=\"_ _1\"></span>ertain <span class=\"_ _26\"> </span>tax <span class=\"_ _27\"> </span>treatments<span class=\"_ _1\"></span></span> <span class=\"_ _26\"> </span>(individ<span class=\"_ _1\"></span>ualmente <span class=\"_ _26\"> </span>o<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>nel <span class=\"_ _27\"> </span>loro <span class=\"_ _27\"> </span>insieme, <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>seconda<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>delle<span class=\"_ _26a\"> </span>caratteristiche), <span class=\"_ _1e\"> </span>ass<span class=\"_ _1\"></span>umendo <span class=\"_ _1e\"> </span>sempre <span class=\"_ _1f\"> </span>che <span class=\"_ _1e\"> </span>l\u2019autorit<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1e\"> </span>esamini <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>posizione <span class=\"_ _1e\"> </span>f<span class=\"_ _1\"></span>iscale <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>ogge<span class=\"_ _1\"></span>tto, <span class=\"_ _1e\"> </span>avendo <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>iena<span class=\"_ _26a\"> </span>conoscenza <span class=\"_ _3\"></span><span class=\"ff5\">di <span class=\"_ _2\"></span>tut<span class=\"_ _1\"></span>te <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>informaz<span class=\"_ _1\"></span>ioni <span class=\"_ _2\"></span>rileva<span class=\"_ _1\"></span>nti. <span class=\"_ _2\"></span>Ne<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>caso <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>cui <span class=\"_ _2\"></span>si <span class=\"_ _3\"></span>ritenga <span class=\"_ _3\"></span>non <span class=\"_ _3\"></span>probabile <span class=\"_ _3\"></span>che <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>\u2019autorit\u00e0 <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>iscale <span class=\"_ _3\"></span>accetti<span class=\"_ _26a\"> </span></span>il tr<span class=\"_ _1\"></span>attamento <span class=\"_ _8\"></span>fiscale <span class=\"_ _1\"></span>seguito, <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iflette <span class=\"_ _1\"></span>l\u2019effetto <span class=\"_ _8\"></span>dell\u2019incertezza <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ella <span class=\"_ _1\"></span>misura<span class=\"_ _1\"></span>zione <span class=\"_ _1\"></span>delle <span class=\"_ _8\"></span>proprie <span class=\"_ _1\"></span>impost<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>sul reddito correnti e <span class=\"_ _1\"></span>differit<span class=\"ff5\">e c<span class=\"_ _1\"></span>ome previsto dall\u2019IFRIC <span class=\"_ _1\"></span>23.<span class=\"_ _1\"></span></span> Le <span class=\"_ _8\"></span>imposte <span class=\"_ _1\"></span>(c<span class=\"_ _1\"></span>orrenti <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>differite) <span class=\"_ _8\"></span>relative <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>compon<span class=\"_ _1\"></span>enti <span class=\"_ _8\"></span>rilevati <span class=\"_ _8\"></span>direttamente <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>Patrimon<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>Nett<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _8\"></span>imputate<span class=\"_ _26a\"> </span>direttamente a Patri<span class=\"_ _1\"></span>monio Netto.<span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>passivit\u00e0 <span class=\"_ _11\"></span>fiscali <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>imp<span class=\"_ _1\"></span>oste <span class=\"_ _11\"></span>correnti <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>compensate <span class=\"_ _11\"></span>solo <span class=\"_ _8\"></span>se <span class=\"_ _20\"></span>si <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>un <span class=\"_ _8\"></span>dirit<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>es<span class=\"_ _1\"></span>ercitabile <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>compensare <span class=\"_ _11\"></span>gli <span class=\"_ _11\"></span>importi <span class=\"_ _11\"></span>rilevati <span class=\"_ _11\"></span>contabilmente <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>inte<span class=\"_ _1\"></span>nde <span class=\"_ _11\"></span>liquidare <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>saldare <span class=\"_ _11\"></span>le <span class=\"_ _11\"></span>partite <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>intende<span class=\"_ _26a\"> </span>realizzare <span class=\"_ _8\"></span>l\u2019attivit\u00e0 <span class=\"_ _11\"></span>ed <span class=\"_ _8\"></span>estinguere <span class=\"_ _8\"></span>contempora<span class=\"_ _1\"></span>neamente <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>passivit\u00e0. <span class=\"_ _8\"></span>Si <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>grad<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ompensare <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>imposte<span class=\"_ _26a\"> </span>differite <span class=\"_ _12\"> </span>attive <span class=\"_ _27\"> </span>e <span class=\"_ _12\"> </span>pass<span class=\"_ _1\"></span>ive <span class=\"_ _12\"> </span>solo <span class=\"_ _27\"> </span>se <span class=\"_ _12\"> </span>si <span class=\"_ _12\"> </span>prevede <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>diven<span class=\"_ _1\"></span>gano <span class=\"_ _12\"> </span>contemporanea<span class=\"_ _1\"></span>mente <span class=\"_ _12\"> </span>liquide, <span class=\"_ _12\"> </span>esigibili <span class=\"_ _12\"> </span>e<span class=\"_ _26a\"> </span>scomputabili, in relaz<span class=\"_ _1\"></span>ione al medesimo <span class=\"_ _1\"></span>ente impositore. <span class=\"_ _1\"></span> 2.21 Trattamento di fine<span class=\"_ _1\"></span> rapporto<span class=\"_ _1\"></span> Il trattamento di <span class=\"_ _1\"></span>fine rapport<span class=\"_ _1\"></span>o rientra n<span class=\"_ _1\"></span>ella tipologia de<span class=\"_ _1\"></span>i piani<span class=\"_ _8\"></span> a benef<span class=\"_ _1\"></span>ici definiti, <span class=\"_ _1\"></span>soggetti a <span class=\"_ _1\"></span>valutazioni d<span class=\"_ _1\"></span>i natura<span class=\"_ _26a\"> </span>attuariale <span class=\"_ _20\"></span>(morta<span class=\"_ _1\"></span>lit\u00e0, <span class=\"_ _20\"></span>probabilit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>cessaz<span class=\"_ _1\"></span>ioni, <span class=\"_ _20\"></span>ecc.) <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span>d <span class=\"_ _20\"></span>esprime<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>valore <span class=\"_ _23\"></span>attuale <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>b<span class=\"_ _1\"></span>eneficio, <span class=\"_ _20\"></span>er<span class=\"_ _1\"></span>ogabile <span class=\"_ _20\"></span>al<span class=\"_ _26a\"> </span>termine del rapporto d<span class=\"_ _1\"></span>i lavoro, che i dipe<span class=\"_ _1\"></span>ndenti hanno matura<span class=\"_ _1\"></span>to alla data di <span class=\"_ _1\"></span>bilancio.<span class=\"_ _8\"></span> I <span class=\"_ _20\"> </span>costi <span class=\"_ _23\"> </span>relativi <span class=\"_ _20\"></span>all\u2019increment<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>del <span class=\"_ _20\"> </span>v<span class=\"_ _1\"></span>alore <span class=\"_ _20\"> </span>att<span class=\"_ _1\"></span>uale <span class=\"_ _20\"> </span>dell\u2019o<span class=\"_ _1\"></span>bbligazione, <span class=\"_ _23\"> </span>derivanti <span class=\"_ _20\"> </span>dal<span class=\"_ _1\"></span>l\u2019avvicinarsi <span class=\"_ _20\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>mome<span class=\"_ _1\"></span>nto <span class=\"_ _20\"></span>del<span class=\"_ _26a\"> </span>pagamento, <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>inclusi <span class=\"_ _8\"></span>tra <span class=\"_ _8\"></span>gli <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span>neri <span class=\"_ _8\"></span>finanziari. <span class=\"_ _1\"></span>Tu<span class=\"_ _1\"></span>tti <span class=\"_ _8\"></span>gli <span class=\"_ _8\"></span>altri <span class=\"_ _1\"></span>cos<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>rientra<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>nell\u2019accantoname<span class=\"_ _1\"></span>nto <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>levati<span class=\"_ _26a\"> </span>nel conto economico c<span class=\"_ _1\"></span>ome c<span class=\"_ _1\"></span>osto del personale. Gli uti<span class=\"_ _1\"></span>li e le perdite attuari<span class=\"_ _1\"></span>ali sono contabil<span class=\"_ _1\"></span>izzati nel prospetto<span class=\"_ _1\"></span> delle variazioni del cont<span class=\"_ _1\"></span>o economico com<span class=\"_ _1\"></span>plessivo nell\u2019<span class=\"_ _1\"></span>esercizio in cui si man<span class=\"_ _1\"></span>ifestano.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.22 Fondi per rischi<span class=\"_ _1\"></span> ed oneri<span class=\"_ _1\"></span> Gli <span class=\"_ _8\"></span>acc<span class=\"_ _1\"></span>antonamenti <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>fondi <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>risch<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>oner<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>iscritti <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>bilancio <span class=\"_ _11\"></span>quando <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Gruppo <span class=\"_ _8\"></span>h<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n\u2019obbligazione<span class=\"_ _1\"></span> legale <span class=\"_ _12\"> </span>o <span class=\"_ _27\"> </span>i<span class=\"_ _1\"></span>mplicita <span class=\"_ _12\"> </span>risultante <span class=\"_ _12\"> </span>da <span class=\"_ _12\"> </span>eventi <span class=\"_ _27\"> </span>pas<span class=\"_ _1\"></span>sati, <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>probabile <span class=\"_ _12\"> </span>che <span class=\"_ _27\"> </span>si<span class=\"_ _1\"></span>a <span class=\"_ _12\"> </span>richiesto <span class=\"_ _12\"> </span>un <span class=\"_ _27\"> </span>p<span class=\"_ _1\"></span>agamento <span class=\"_ _12\"> </span>a <span class=\"_ _12\"> </span>saldo<span class=\"_ _26a\"> </span>dell\u2019obbligazione ed <span class=\"_ _1\"></span>\u00e8 possibile effettuare <span class=\"_ _1\"></span>una st<span class=\"_ _1\"></span>ima attendibile de<span class=\"_ _1\"></span>ll\u2019importo relativ<span class=\"_ _1\"></span>o. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>Eventuali passivit\u00e0 def<span class=\"_ _1\"></span>inite come potenz<span class=\"_ _1\"></span>iali non danno luogo a<span class=\"_ _1\"></span>d accantonamenti <span class=\"_ _1\"></span>a fondi rischi ed on<span class=\"_ _1\"></span>eri.   <span class=\"_ _8\"></span> 2.23 Ricavi<span class=\"_ _26a\"> </span>I <span class=\"_ _3\"></span>ricavi sono riconosciuti nel <span class=\"_ _3\"></span>conto economico secondo il <span class=\"_ _3\"></span>principio della competenza econo<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ica e <span class=\"_ _3\"></span>temporale<span class=\"_ _1\"></span> e<span class=\"_ _26a\"> </span>sono rilevati <span class=\"_ _1\"></span>nella m<span class=\"_ _1\"></span>isura in<span class=\"_ _1\"></span> cui \u00e8 <span class=\"_ _1\"></span>probabile <span class=\"_ _1\"></span>che al<span class=\"_ _1\"></span>la Societ\u00e0 c<span class=\"_ _1\"></span>onfluiranno d<span class=\"_ _1\"></span>ei ben<span class=\"_ _1\"></span>efici econom<span class=\"_ _1\"></span>ici associati <span class=\"_ _1\"></span>alla<span class=\"_ _26a\"> </span>vendita di beni o al<span class=\"_ _1\"></span>la prestazione di serv<span class=\"_ _1\"></span>izi ed il loro a<span class=\"_ _1\"></span>mmontare pu\u00f2 essere d<span class=\"_ _1\"></span>eterminato in m<span class=\"_ _1\"></span>odo attendibile<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span> I <span class=\"_ _20\"></span>ricavi <span class=\"_ _23\"></span>sono <span class=\"_ _20\"></span>co<span class=\"_ _1\"></span>ntabilizzati <span class=\"_ _23\"> </span>al <span class=\"_ _20\"></span>netto <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>resi<span class=\"_ _1\"></span>, <span class=\"_ _20\"></span>sconti, <span class=\"_ _23\"></span>abbuoni <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>tasse <span class=\"_ _23\"></span>direttamente <span class=\"_ _23\"></span>associate <span class=\"_ _20\"></span>alla <span class=\"_ _23\"></span>vendita <span class=\"_ _23\"></span>del<span class=\"_ _26a\"> </span>prodotto o alla prestaz<span class=\"_ _1\"></span>ione del serviz<span class=\"_ _1\"></span>io.<span class=\"_ _26a\"> </span>Le vendite <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>riconosciut<span class=\"_ _1\"></span>e al <span class=\"_ _1\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _1\"></span>del corr<span class=\"_ _1\"></span>ispettivo <span class=\"_ _1\"></span>ricevuto p<span class=\"_ _1\"></span>er la <span class=\"_ _1\"></span>vendita <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>prodotti e<span class=\"_ _1\"></span> serv<span class=\"_ _1\"></span>izi, quand<span class=\"_ _1\"></span>o<span class=\"_ _8\"></span> vi sono le seguenti cond<span class=\"_ _1\"></span>izioni:<span class=\"_ _1\"></span> a)<span class=\"ls1\">  avviene il sostanziale trasferimento d<span class=\"_ _1\"></span>ei rischi e benef<span class=\"_ _1\"></span>ici connessi alla pr<span class=\"_ _1\"></span>opriet\u00e0 del bene<span class=\"_ _1\"></span>;<span class=\"_ _8\"></span> </span>b)<span class=\"ls1\">  il<span class=\"_ _3\"></span> valore <span class=\"_ _1\"></span>dei ricavi \u00e8 determ<span class=\"_ _1\"></span>inato in maniera att<span class=\"_ _1\"></span>endibile;<span class=\"_ _1\"></span> </span>c)<span class=\"ls1\">  \u00e8 prob<span class=\"_ _1\"></span>abile che i benefici e<span class=\"_ _1\"></span>conomici derivanti <span class=\"_ _1\"></span>dalla vendita saranno f<span class=\"_ _1\"></span><span class=\"ff5\">ru<span class=\"_ _1\"></span>iti dall\u2019impr<span class=\"_ _1\"></span>esa;</span> </span>d)<span class=\"ls1\">  i <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>osti <span class=\"_ _20\"></span>sostenuti, <span class=\"_ _23\"> </span>o <span class=\"_ _20\"></span>da <span class=\"_ _23\"></span>sostenere, <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>terminati <span class=\"_ _20\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _23\"></span>modo <span class=\"_ _20\"></span>attendibile <span class=\"_ _23\"></span>e <span class=\"_ _20\"></span>rispettano <span class=\"_ _23\"></span>il <span class=\"_ _20\"></span>princip<span class=\"_ _1\"></span>io <span class=\"_ _20\"></span>della<span class=\"_ _1\"></span> </span>correlazione con i r<span class=\"_ _1\"></span>icavi.<span class=\"_ _26a\"> </span>La contabilizzazione de<span class=\"_ _1\"></span>i ricavi prevede <span class=\"_ _1\"></span>il rispetto dei pass<span class=\"_ _1\"></span>aggi previsti dall\u2019IFR<span class=\"_ _1\"></span>S 15:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>identificazione de<span class=\"_ _1\"></span>l contratto con il cl<span class=\"_ _1\"></span>iente;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>identificazione delle <span class=\"_ _1\"></span><span class=\"ff7\">performance ob<span class=\"_ _1\"></span>ligations</span> prev<span class=\"_ _1\"></span>iste nel contratt<span class=\"_ _1\"></span>o;<span class=\"_ _26a\"> </span></span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>determinazione del <span class=\"_ _1\"></span>prezzo;<span class=\"_ _1\"></span> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>allocazione del prezz<span class=\"_ _1\"></span>o alle <span class=\"_ _1\"></span><span class=\"ff7\">performance obl<span class=\"_ _1\"></span>igations</span> co<span class=\"_ _1\"></span>ntenute nel contrat<span class=\"_ _1\"></span>to;<span class=\"_ _26a\"> </span></span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\"></span><span class=\"ff5\">riconoscimento dei ricavi<span class=\"_ _1\"></span> quando l\u2019entit\u00e0 sod<span class=\"_ _1\"></span>disfa ciasc<span class=\"_ _1\"></span>una <span class=\"_ _1\"></span><span class=\"ff7\">performanc<span class=\"_ _1\"></span>e obligation</span></span>.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> </span>I <span class=\"_ _1\"></span>ricavi <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>rico<span class=\"_ _1\"></span>nosciuti <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>momento <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>trasferimento <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>controllo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _1\"></span>merc<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>cliente <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _1\"></span>coincide <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span>momento <span class=\"_ _8\"></span>in <span class=\"_ _11\"></span>cui <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>erce <span class=\"_ _8\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>consegnat<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>cl<span class=\"_ _1\"></span>iente <span class=\"_ _8\"></span>(<span class=\"_ _1\"></span><span class=\"ff7\">at <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>point <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>time</span>), <span class=\"_ _11\"></span>nel <span class=\"_ _8\"></span>rispetto <span class=\"_ _8\"></span>delle <span class=\"_ _11\"></span>specifiche <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ondizioni<span class=\"_ _26a\"> </span>contrattuali regolate co<span class=\"_ _1\"></span>n la clientela. <span class=\"_ _1\"></span> Il Gruppo ha ritenuto che la disaggr<span class=\"_ _1\"></span>egazione dei ricavi per s<span class=\"_ _1\"></span>egmenti operativi sia appropri<span class=\"_ _1\"></span>ata per soddisfare il<span class=\"_ _26a\"> </span>requisito di informativa ri<span class=\"_ _3\"></span>chi<span class=\"_ _1\"></span>esto in quanto <span class=\"_ _3\"></span>si tra<span class=\"_ _1\"></span>tta di <span class=\"_ _3\"></span>informaz<span class=\"_ _1\"></span>ioni regolarmente riviste dal <span class=\"ff7\">manage<span class=\"_ _1\"></span>ment </span>al fine<span class=\"_ _26a\"> </span>di valutare la <span class=\"ff7\">perf<span class=\"_ _1\"></span>omance</span> fi<span class=\"_ _1\"></span>nanziaria della soc<span class=\"_ _1\"></span>iet\u00e0.<span class=\"_ _1\"></span> 2.24 Contributi pubblici<span class=\"_ _1\"></span> I <span class=\"_ _3\"></span>contributi pubblici sono <span class=\"_ _2\"></span>rile<span class=\"_ _1\"></span>vati <span class=\"_ _3\"></span>al <span class=\"ff7\">fair value</span> <span class=\"_ _3\"></span>quando sussiste <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>ragionevol<span class=\"_ _1\"></span>e <span class=\"_ _3\"></span>certezza che <span class=\"_ _3\"></span>essi saranno <span class=\"_ _3\"></span>ric<span class=\"_ _1\"></span>evuti<span class=\"_ _1\"></span> e tutte le condizioni ad <span class=\"_ _1\"></span>essi riferite risu<span class=\"_ _1\"></span>ltino soddisfatte.<span class=\"_ _1\"></span> Quando <span class=\"_ _11\"></span>i <span class=\"_ _20\"></span>contributi <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>orrelati <span class=\"_ _11\"></span>a <span class=\"_ _20\"></span>component<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>sto <span class=\"_ _11\"></span>(per <span class=\"_ _20\"></span>esempio <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>contri<span class=\"_ _1\"></span>buti <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>conto <span class=\"_ _20\"></span>esercizio) <span class=\"_ _20\"></span>sono<span class=\"_ _26a\"> </span>rilevati <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>me <span class=\"_ _1e\"> </span>ricav<span class=\"_ _1\"></span>i, <span class=\"_ _1e\"> </span>m<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ono <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>ipartiti <span class=\"_ _1f\"> </span>sistematicamente  su <span class=\"_ _1e\"> </span>differen<span class=\"_ _1\"></span>ti <span class=\"_ _1e\"> </span>eserc<span class=\"_ _1\"></span>izi  i<span class=\"_ _1\"></span>n <span class=\"_ _1e\"> </span>modo  che <span class=\"_ _1e\"> </span>i  ri<span class=\"_ _3\"></span>cavi <span class=\"_ _1f\"> </span>siano<span class=\"_ _26a\"> </span>commisurati ai cost<span class=\"_ _1\"></span>i che essi intendono comp<span class=\"_ _1\"></span>ensare.<span class=\"_ _1\"></span> Nel <span class=\"_ _8\"></span>cas<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>contributo <span class=\"_ _8\"></span>corr<span class=\"_ _1\"></span>elato <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>un\u2019<span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _11\"></span>(es. <span class=\"_ _8\"></span>con<span class=\"_ _1\"></span>tributo <span class=\"_ _11\"></span>in <span class=\"_ _8\"></span>conto <span class=\"_ _11\"></span>impianti) <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>suo <span class=\"_ _8\"></span>ammontare <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>sospeso<span class=\"_ _26a\"> </span>nelle passivit\u00e0 a lungo termine e progressivame<span class=\"_ _1\"></span>nte avviene il rilas<span class=\"_ _1\"></span>cio a conto economico a rate costanti lungo<span class=\"_ _26a\"> </span>un arco temporale p<span class=\"_ _1\"></span>ari alla durata de<span class=\"_ _1\"></span>lla vita utile dell\u2019at<span class=\"_ _1\"></span>tivit\u00e0 di riferimento. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.25 Proventi e on<span class=\"_ _1\"></span>eri finanz<span class=\"_ _1\"></span>iari<span class=\"_ _26a\"> </span>I <span class=\"_ _23\"> </span>prov<span class=\"_ _1\"></span>enti <span class=\"_ _21\"> </span>e <span class=\"_ _21\"> </span>g<span class=\"_ _1\"></span>li <span class=\"_ _21\"> </span>oneri <span class=\"_ _21\"> </span>finan<span class=\"_ _1\"></span>ziari <span class=\"_ _21\"> </span>sono <span class=\"_ _21\"> </span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>com<span class=\"_ _1\"></span>petenza <span class=\"_ _21\"> </span>utilizzando<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>tasso <span class=\"_ _21\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>intere<span class=\"_ _8\"></span>sse <span class=\"_ _1e\"> </span>effettivo <span class=\"_ _21\"> </span>ed<span class=\"_ _26a\"> </span>includono <span class=\"_ _8\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>utili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>perdi<span class=\"_ _1\"></span>te <span class=\"_ _8\"></span>su <span class=\"_ _11\"></span>cambi <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>g<span class=\"_ _1\"></span>li <span class=\"_ _8\"></span>utili <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>perdit<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>su <span class=\"_ _11\"></span>strumenti <span class=\"_ _8\"></span>finanzi<span class=\"_ _1\"></span>ari <span class=\"_ _8\"></span>derivati <span class=\"_ _11\"></span>imputati <span class=\"_ _8\"></span>a <span class=\"_ _11\"></span>conto<span class=\"_ _26a\"> </span>economico.<span class=\"_ _26a\"> </span>2.26 Distribuzione di<span class=\"_ _1\"></span> dividendi<span class=\"_ _1\"></span> I <span class=\"_ _3\"></span>dividend<span class=\"_ _1\"></span>i <span class=\"_ _3\"></span>sulle azioni ordinarie della <span class=\"_ _3\"></span>Capo<span class=\"_ _1\"></span>gruppo sono ri<span class=\"_ _3\"></span>levati come passi<span class=\"_ _1\"></span><span class=\"ff5\">vit\u00e0 nel bilancio dell\u2019esercizio in <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ui<span class=\"_ _26a\"> </span></span>la distribuzione \u00e8 ap<span class=\"_ _1\"></span>provata dall\u2019assemb<span class=\"_ _1\"></span>lea.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>2.27 Utile per azione<span class=\"_ _1\"></span> L\u2019utile <span class=\"_ _1\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _8\"></span>azione <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>alcolato <span class=\"_ _8\"></span>dividendo <span class=\"_ _8\"></span>il <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>isultato <span class=\"_ _8\"></span>economico <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>Gruppo <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>media <span class=\"_ _8\"></span>ponderata <span class=\"_ _8\"></span>delle<span class=\"_ _26a\"> </span>azioni in circolazione duran<span class=\"_ _1\"></span>te <span class=\"ff5\">l<span class=\"_ _1\"></span>\u2019esercizio, escluden<span class=\"_ _1\"></span>do le azioni proprie<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span></span> Emak S.p.A. non ha <span class=\"_ _1\"></span>azioni ordinarie pot<span class=\"_ _1\"></span>enziali.<span class=\"_ _1\"></span> 2.28 Rendiconto finanz<span class=\"_ _1\"></span>iario<span class=\"_ _1\"></span> Il rendiconto finanziar<span class=\"_ _1\"></span>io \u00e8 stato redatto<span class=\"_ _1\"></span> applicando il m<span class=\"_ _1\"></span>etodo indiretto.<span class=\"_ _8\"></span> Le <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>isponibilit\u00e0 liquide <span class=\"_ _2\"></span>ed i <span class=\"_ _3\"></span>mezzi <span class=\"_ _3\"></span>equivalenti inclusi <span class=\"_ _2\"></span>nel<span class=\"_ _1\"></span> rendiconto <span class=\"_ _3\"></span>finanziario comprendono <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>saldi patrimoniali<span class=\"_ _26a\"> </span>di <span class=\"_ _11\"></span>tale <span class=\"_ _11\"></span>voce <span class=\"_ _20\"></span>alla <span class=\"_ _11\"></span>data <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>riferime<span class=\"_ _1\"></span>nto. <span class=\"_ _11\"></span>I <span class=\"_ _11\"></span>prov<span class=\"_ _1\"></span>enti <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>i <span class=\"_ _11\"></span>costi <span class=\"_ _20\"></span>relativi <span class=\"_ _11\"></span>a <span class=\"_ _20\"></span>interessi, <span class=\"_ _11\"></span>divi<span class=\"_ _1\"></span>dendi <span class=\"_ _11\"></span>ricevuti <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>imposte <span class=\"_ _20\"></span>sul<span class=\"_ _26a\"> </span>reddito sono inclusi ne<span class=\"_ _1\"></span>i flussi finanziari g<span class=\"_ _1\"></span>enerati dalla g<span class=\"_ _1\"></span>estione operativa. <span class=\"_ _8\"></span> 2.2<span class=\"ls1\">9 Variazione <span class=\"_ _1\"></span>ai principi cont<span class=\"_ _1\"></span>abili e nuovi principi<span class=\"_ _1\"></span> contabili <span class=\"_ _1\"></span> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS applicati dal 1\u00b0<span class=\"_ _1\"></span> gennaio 20<span class=\"_ _1\"></span>22<span class=\"_ _1\"></span><span class=\"ff3 fs3\"> </span>I <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>eguenti <span class=\"_ _20\"></span>principi <span class=\"_ _20\"></span>contabili, <span class=\"_ _20\"></span>emend<span class=\"_ _1\"></span>amenti <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>interpretazioni <span class=\"_ _20\"></span>IFR<span class=\"_ _1\"></span>S <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>tati <span class=\"_ _20\"></span>applicati <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>prima<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>olta<span class=\"_ _8\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span>Gruppo a partire dal 1\u00b0 <span class=\"_ _1\"></span>gennaio 2022:<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 14 maggio 202<span class=\"_ _1\"></span>0 lo IASB ha pubb<span class=\"_ _1\"></span>licato i segue<span class=\"_ _1\"></span>nti emendamenti den<span class=\"_ _1\"></span>ominati:<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>3 <span class=\"_ _20\"></span>Business <span class=\"_ _20\"></span>Combinations<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>modifiche <span class=\"_ _20\"></span>hanno <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>scopo <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>aggiornare <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span></span></span></span>riferimento <span class=\"_ _23\"> </span>pr<span class=\"_ _1\"></span>esente <span class=\"_ _21\"> </span>nell\u2019IFRS <span class=\"_ _21\"> </span>3 <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>Conc<span class=\"_ _1\"></span>eptual <span class=\"_ _23\"> </span>Fr<span class=\"_ _1\"></span>amework <span class=\"_ _21\"> </span>nella <span class=\"_ _21\"> </span>versione <span class=\"_ _21\"> </span>rivista, <span class=\"_ _21\"> </span>senza <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>ci\u00f2<span class=\"_ _26a\"> </span>comporti modifiche al<span class=\"_ _1\"></span>le disposizioni de<span class=\"_ _1\"></span>l principio.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _23\"></span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>16 <span class=\"_ _23\"></span>Property, <span class=\"_ _23\"></span>Plant <span class=\"_ _23\"></span>and <span class=\"_ _23\"></span>Equipment<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _23\"> </span>le <span class=\"_ _23\"></span>modifiche <span class=\"_ _23\"> </span>hanno <span class=\"_ _23\"> </span>lo <span class=\"_ _23\"> </span>scopo <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>non<span class=\"_ _26a\"> </span></span></span></span>consentire <span class=\"_ _21\"> </span>la <span class=\"_ _21\"> </span>deduz<span class=\"_ _1\"></span>ione <span class=\"_ _21\"> </span>dal <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>osto <span class=\"_ _21\"> </span>delle <span class=\"_ _1e\"> </span>attivit\u00e0 <span class=\"_ _21\"> </span>materiali <span class=\"_ _21\"> </span>l\u2019importo<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>ricevuto <span class=\"_ _21\"> </span>dalla <span class=\"_ _21\"> </span>ve<span class=\"_ _1\"></span>ndita <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>beni<span class=\"_ _26a\"> </span>prodotti <span class=\"_ _8\"></span>nella <span class=\"_ _8\"></span>fase <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>test <span class=\"_ _8\"></span>dell\u2019attivit\u00e0 <span class=\"_ _8\"></span>stess<span class=\"_ _1\"></span>a. <span class=\"_ _8\"></span>Tali <span class=\"_ _8\"></span>ricavi<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>endita <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>relativi <span class=\"_ _8\"></span>costi <span class=\"_ _11\"></span>saranno <span class=\"_ _8\"></span>pertanto<span class=\"_ _26a\"> </span>rilevati nel conto <span class=\"_ _1\"></span>economico.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _f7\"> </span>to <span class=\"_ _f7\"> </span>IAS <span class=\"_ _8e\"> </span>37 <span class=\"_ _f7\"> </span>Provisions, <span class=\"_ _f7\"> </span>Cont<span class=\"_ _1\"></span>ingent <span class=\"_ _f7\"> </span>Liabilities <span class=\"_ _f7\"> </span>and <span class=\"_ _8e\"> </span>Contingent <span class=\"_ _f7\"> </span>Assets<span class=\"_ _8\"></span><span class=\"ff2 ls5\">:<span class=\"_ _26a\"> </span></span></span></span>l\u2019emendamento <span class=\"_ _12\"> </span>chiarisce <span class=\"_ _12\"> </span>che <span class=\"_ _12\"> </span>nella <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>tima <span class=\"_ _12\"> </span>sull\u2019eventuale <span class=\"_ _12\"> </span>onerosit\u00e0 <span class=\"_ _12\"> </span>di <span class=\"_ _12\"> </span>un <span class=\"_ _27\"> </span>contr<span class=\"_ _1\"></span>atto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>devo<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>considerare <span class=\"_ _12\"> </span>tutti <span class=\"_ _12\"> </span>i <span class=\"_ _27\"> </span>costi <span class=\"_ _12\"> </span>direttamente <span class=\"_ _12\"> </span>imputab<span class=\"_ _1\"></span>ili <span class=\"_ _12\"> </span>al <span class=\"_ _27\"> </span>contratto. <span class=\"_ _12\"> </span>Di <span class=\"_ _12\"> </span>con<span class=\"_ _1\"></span>seguenz<span class=\"_ _1\"></span>a, <span class=\"_ _12\"> </span>la <span class=\"_ _27\"> </span>valutazi<span class=\"_ _1\"></span>one<span class=\"_ _26a\"> </span>sull\u2019eventuale <span class=\"_ _11\"></span>oneros<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>contratto <span class=\"_ _11\"></span>inc<span class=\"_ _1\"></span>lude <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>solo <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>cost<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>incrementali <span class=\"_ _11\"></span>(come <span class=\"_ _11\"></span>ad <span class=\"_ _11\"></span>ese<span class=\"_ _1\"></span>mpio, <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>costo del materiale d<span class=\"_ _1\"></span>iretto impi<span class=\"_ _1\"></span>egato nella lavor<span class=\"_ _1\"></span>azione), ma<span class=\"_ _1\"></span> anche tutti i cost<span class=\"_ _1\"></span>i che l\u2019impresa <span class=\"_ _1\"></span>non pu\u00f2<span class=\"_ _26a\"> </span>evitare <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>q<span class=\"_ _1\"></span>uanto <span class=\"_ _1e\"> </span>ha <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>tipula<span class=\"_ _1\"></span>to <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>ntratto <span class=\"_ _1e\"> </span>(c<span class=\"_ _1\"></span>ome, <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>esempio, <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>quota  dell'ammortamento <span class=\"_ _1e\"> </span>dei<span class=\"_ _26a\"> </span>macchinari impiegat<span class=\"_ _1\"></span>i per l'adempiment<span class=\"_ _1\"></span>o del contratto).<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Annual Improvements 2018-2020<span class=\"ff5\">: le modifiche sono state <span class=\"_ _3\"></span>apportat<span class=\"_ _1\"></span>e all\u2018IFRS 1 <span class=\"ff7\">First-time Adoption<span class=\"_ _26a\"> </span></span></span></span></span>of <span class=\"_ _26\"> </span>International <span class=\"_ _26\"> </span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Report<span class=\"_ _1\"></span>ing <span class=\"_ _26\"> </span>Sta<span class=\"_ _1\"></span>ndards<span class=\"ff5\">, <span class=\"_ _27\"> </span>all\u2019IFRS <span class=\"_ _26\"> </span>9 <span class=\"_ _26\"> </span></span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Instrume<span class=\"_ _1\"></span>nts<span class=\"ff2\">, <span class=\"_ _27\"> </span>allo <span class=\"_ _26\"> </span>IAS <span class=\"_ _26\"> </span>41<span class=\"_ _1\"></span> </span>Agriculture<span class=\"ff2\"> e agl<span class=\"_ _1\"></span>i </span>Illustrative Examples<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"ff5\">dell\u2019IFRS <span class=\"_ _1\"></span>16 </span></span>Leas<span class=\"_ _1\"></span>es<span class=\"ff2\">.<span class=\"_ _26a\"> </span></span>L\u2019adozione di tali emen<span class=\"_ _1\"></span>damenti no<span class=\"_ _1\"></span>n ha comportato eff<span class=\"_ _1\"></span>etti sul bilancio co<span class=\"_ _1\"></span>nsolidato d<span class=\"_ _1\"></span>el Gruppo. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Principi <span class=\"_ _21\"> </span>contabili, <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _21\"> </span>ed<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>interpretazion<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>ifrs <span class=\"_ _21\"> </span>omologati <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>all\u2019unio<span class=\"_ _1\"></span>ne <span class=\"_ _21\"> </span>europea, <span class=\"_ _21\"> </span>non <span class=\"_ _21\"> </span>anco<span class=\"_ _1\"></span>ra<span class=\"_ _26a\"> </span>obbligatoriamente applic<span class=\"_ _1\"></span>abili e non adot<span class=\"_ _1\"></span>tati in via anticipata<span class=\"_ _8\"></span> dal gruppo al 3<span class=\"_ _1\"></span>1 dicembre 202<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _11\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>18 <span class=\"_ _20\"></span>maggio <span class=\"_ _20\"></span>2017 <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>IASB <span class=\"_ _20\"></span>ha <span class=\"_ _20\"></span>pubblicato <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>principio <span class=\"_ _23\"></span><span class=\"ff4\">IFRS <span class=\"_ _20\"></span>17 <span class=\"_ _20\"></span><span class=\"ff6\">\u2013</span> <span class=\"_ _20\"></span>Insuranc<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>Co<span class=\"_ _1\"></span>ntracts</span> <span class=\"_ _20\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>\u00e8<span class=\"_ _1\"></span> </span>destinato a sostituire i<span class=\"_ _1\"></span>l principio IFRS<span class=\"_ _1\"></span> 4 <span class=\"ff5\">\u2013</span> Insura<span class=\"_ _1\"></span>nce Contracts<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>L'obiettivo <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>nuovo<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uello <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>garant<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>un'en<span class=\"_ _8\"></span>tit\u00e0 <span class=\"_ _8\"></span>fornisca <span class=\"_ _11\"></span>informazioni <span class=\"_ _8\"></span>pertinenti <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>he<span class=\"_ _26a\"> </span>rappresentano <span class=\"_ _1\"></span>fede<span class=\"_ _1\"></span>lmente <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>diritti <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>gli <span class=\"_ _1\"></span>obbl<span class=\"_ _1\"></span>ighi <span class=\"_ _1\"></span>derivanti <span class=\"_ _1\"></span>dai <span class=\"_ _1\"></span>contra<span class=\"_ _1\"></span>tti <span class=\"_ _1\"></span>assicurativi<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span>messi. <span class=\"_ _1\"></span>Lo <span class=\"_ _1\"></span>IASB<span class=\"_ _1\"></span> h<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>sviluppato <span class=\"_ _1e\"> </span>lo <span class=\"_ _21\"> </span>stan<span class=\"_ _1\"></span>dard <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>eliminare <span class=\"_ _1e\"> </span>incongruenze <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>debolezze <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _1e\"> </span>contabili <span class=\"_ _1e\"> </span>esistenti,<span class=\"_ _26a\"> </span>fornendo <span class=\"_ _8\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>quadro <span class=\"_ _8\"></span>unico <span class=\"_ _11\"></span>principle-based<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>tenere <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tutti <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>tipi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>contratti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>assicurazio<span class=\"_ _1\"></span>ne,<span class=\"_ _26a\"> </span>inclusi i contratti di rias<span class=\"_ _1\"></span>sicurazione che un ass<span class=\"_ _1\"></span>icuratore detiene<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> Il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _21\"> </span>principio <span class=\"_ _1e\"> </span>prevede <span class=\"_ _21\"> </span>inoltre <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ei <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>equisiti <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>pre<span class=\"_ _1\"></span>sentazione <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>informativ<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>per<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>migli<span class=\"_ _8\"></span>orare <span class=\"_ _21\"> </span>la<span class=\"_ _26a\"> </span>comparabilit\u00e0 tra le ent<span class=\"_ _1\"></span>it\u00e0 appartenen<span class=\"_ _1\"></span>ti a questo settore.<span class=\"_ _8\"></span> Il <span class=\"_ _11\"></span>nuov<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _20\"></span>misura <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>contratto <span class=\"_ _20\"></span>assicurativo <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"></span>base <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>General <span class=\"_ _20\"></span>Model <span class=\"_ _20\"></span>o <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>versione<span class=\"_ _1\"></span> semplificata di questo<span class=\"_ _1\"></span>, chiamato Pre<span class=\"_ _1\"></span>mium Allocation A<span class=\"_ _1\"></span>pproach (\u201cPAA\u201d).<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Le principali caratt<span class=\"_ _1\"></span>eristiche del G<span class=\"_ _1\"></span>eneral Model sono:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me e le ipotesi dei f<span class=\"_ _1\"></span>uturi flussi di cassa so<span class=\"_ _1\"></span>no sempre quelle c<span class=\"_ _1\"></span>orrenti;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">la m<span class=\"_ _1\"></span>isurazione riflette<span class=\"_ _1\"></span> il valore temporale <span class=\"_ _1\"></span>del denaro;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me prevedono un <span class=\"_ _1\"></span>utilizzo estensivo <span class=\"_ _1\"></span>di informazion<span class=\"_ _1\"></span>i osservabili sul <span class=\"_ _8\"></span>mercato;<span class=\"_ _26a\"> </span></span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">es<span class=\"_ _1\"></span>iste una misurazione<span class=\"_ _1\"></span> corrente ed espl<span class=\"_ _1\"></span>icita del rischio;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>prof<span class=\"_ _1\"></span>itto <span class=\"_ _20\"></span>attes<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>differito <span class=\"_ _23\"> </span>e <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>ggregato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>gruppi <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>assicurativi <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della<span class=\"_ _26a\"> </span></span></span>rilevazione iniziale; e,<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>profitto <span class=\"_ _8\"></span>atteso <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>rilevato <span class=\"_ _8\"></span>nel <span class=\"_ _1\"></span>peri<span class=\"_ _1\"></span>odo <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>copertura <span class=\"_ _8\"></span>contrattuale <span class=\"_ _11\"></span>tenendo <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>nto <span class=\"_ _1\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>rettifiche<span class=\"_ _1\"></span> </span></span>derivanti <span class=\"_ _23\"> </span>da <span class=\"_ _23\"> </span>variaz<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _23\"></span>ipotesi <span class=\"_ _23\"> </span>rela<span class=\"_ _1\"></span>tive <span class=\"_ _23\"> </span>ai <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>lussi <span class=\"_ _23\"> </span>finanz<span class=\"_ _1\"></span>iari <span class=\"_ _23\"></span>relativi <span class=\"_ _21\"> </span>a <span class=\"_ _23\"></span>ciascun <span class=\"_ _23\"> </span>grup<span class=\"_ _1\"></span>po <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span>contratti.<span class=\"_ _26a\"> </span>L\u2019approccio <span class=\"_ _23\"> </span>PAA<span class=\"ff7\"> <span class=\"_ _21\"> </span><span class=\"ff2\">prevede <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>misurazione <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lla <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"> </span>per <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"> </span>resid<span class=\"_ _1\"></span>ua <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _23\"> </span>gruppo <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span></span></span>contratti <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>as<span class=\"_ _1\"></span>sicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>condizione <span class=\"_ _11\"></span>che, <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>momento <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>riconoscimento <span class=\"_ _8\"></span>inizi<span class=\"_ _1\"></span>ale, <span class=\"_ _8\"></span>l'ent<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _8\"></span>prev<span class=\"_ _1\"></span>eda<span class=\"_ _26a\"> </span>che tale pa<span class=\"_ _3\"></span>ssivit\u00e0 rapprese<span class=\"_ _1\"></span>nti ragionevolmente un\u2019appross<span class=\"_ _1\"></span>imazione del <span class=\"_ _3\"></span>Genera<span class=\"_ _1\"></span>l Model. I <span class=\"_ _3\"></span>contratt<span class=\"_ _1\"></span>i con<span class=\"_ _26a\"> </span>un <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>anno <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>meno <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>automaticamente <span class=\"_ _11\"></span>idone<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span><span class=\"ff5\">l\u2019approccio <span class=\"_ _11\"></span>PA<span class=\"_ _1\"></span>A. <span class=\"_ _11\"></span> <span class=\"_ _11\"></span>Le<span class=\"_ _26a\"> </span></span>semplificazioni <span class=\"_ _23\"> </span>deriva<span class=\"_ _1\"></span>nti <span class=\"_ _23\"> </span>dall\u2019applicaz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"> </span>del<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>metodo <span class=\"_ _23\"> </span>PA<span class=\"_ _1\"></span>A <span class=\"_ _23\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>applicano <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>lla <span class=\"_ _23\"> </span>valutazione<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle<span class=\"_ _26a\"> </span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i <span class=\"_ _11\"></span><span class=\"ff7\">claims</span> <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>ere, <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>isurati <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span><span class=\"ff7\">Gen<span class=\"_ _1\"></span>eral <span class=\"_ _8\"></span>Model<span class=\"_ _1\"></span></span>. <span class=\"_ _8\"></span>Tuttavia, <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>necessario<span class=\"_ _26a\"> </span>attualizzare <span class=\"_ _8\"></span>quei <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>ci <span class=\"_ _1\"></span>si<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ende <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>saldo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>agare <span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>incassare <span class=\"_ _8\"></span>avverr\u00e0 <span class=\"_ _8\"></span>entro <span class=\"_ _8\"></span>un<span class=\"_ _26a\"> </span>anno dalla data in cu<span class=\"_ _1\"></span>i \u00e8 avvenuto il <span class=\"_ _1\"></span><span class=\"ff7\">claim</span>.<span class=\"_ _1\"></span> L'entit\u00e0 <span class=\"_ _23\"> </span>deve <span class=\"_ _23\"> </span>ap<span class=\"_ _1\"></span>plicare <span class=\"_ _23\"> </span>il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _23\"> </span>principio<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>ai <span class=\"_ _23\"> </span>contratti <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>assicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"></span>emessi, <span class=\"_ _21\"> </span>inclusi <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>contratt<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span>riassicurazione emessi, ai contratti di <span class=\"_ _1\"></span>riassicurazione detenuti<span class=\"_ _1\"></span> e anche ai contratti di investimento con<span class=\"_ _26a\"> </span>una <span class=\"ff7 ls1\">discrectonary<span class=\"_ _1\"></span> partecipation feature<span class=\"_ _1\"></span><span class=\"ff2\"> (DPF).<span class=\"_ _26a\"> </span></span></span><span class=\"ff7 ls1\"><span class=\"ff2\"><span class=\"_ _1\"></span> </span></span>Il <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>applica <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>partire <span class=\"_ _11\"></span>dal <span class=\"_ _8\"></span>1\u00b0 <span class=\"_ _8\"></span>ge<span class=\"_ _1\"></span>nnaio <span class=\"_ _8\"></span>202<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span> <span class=\"_ _8\"></span><span class=\"ff5\">m<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>consentita <span class=\"_ _8\"></span>un\u2019a<span class=\"_ _1\"></span>pplicazione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>nticipata<span class=\"_ _1\"></span></span>, <span class=\"_ _8\"></span>sol<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>per <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>entit\u00e0 <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>pplicano <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>9 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">F<span class=\"_ _1\"></span>inancial <span class=\"_ _11\"></span>Instruments</span> <span class=\"_ _11\"></span></span>e <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>15 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">Revenue <span class=\"_ _11\"></span>from <span class=\"_ _11\"></span>Contracts<span class=\"_ _26a\"> </span></span></span>with Customers<span class=\"_ _1\"></span><span class=\"ff2 ls5\">. <span class=\"ls1\"> </span></span>Gli  amministratori <span class=\"_ _26\"> </span>non  si  attendono <span class=\"_ _90\"> </span>un <span class=\"_ _26\"> </span>effetto  significativo <span class=\"_ _90\"> </span>n<span class=\"_ _1\"></span>el  bilancio <span class=\"_ _26\"> </span>consolidato  del  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di ques<span class=\"_ _1\"></span>to principio.<span class=\"_ _1\"></span><span class=\"ff4\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _2\"></span>data <span class=\"_ _2\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>dicembre 20<span class=\"_ _3\"></span>21, <span class=\"_ _3\"></span>lo <span class=\"_ _2\"></span>IASB<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>ha <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ubblicato <span class=\"_ _2\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>emendam<span class=\"_ _1\"></span>ento <span class=\"_ _2\"></span>den<span class=\"_ _1\"></span>ominato <span class=\"ff11\">\u201cAmendments <span class=\"_ _2\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>IFRS<span class=\"_ _26a\"> </span></span></span>17 <span class=\"_ _1\"></span>Insurance <span class=\"_ _1\"></span>cont<span class=\"_ _1\"></span>racts: <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>nitial <span class=\"_ _1\"></span>Application <span class=\"_ _1\"></span>of<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>IFRS <span class=\"_ _1\"></span>17 <span class=\"_ _8\"></span>and <span class=\"_ _1\"></span>IFRS <span class=\"_ _8\"></span>9 <span class=\"_ _8\"></span><span class=\"ff11\">\u2013</span> <span class=\"_ _1\"></span><span class=\"ff11\">Comp<span class=\"_ _1\"></span>arative <span class=\"_ _1\"></span>Inf<span class=\"_ _1\"></span>ormation\u201d<span class=\"_ _1\"></span><span class=\"ff2 ls5\">.<span class=\"_ _26a\"> </span></span></span>L'emendamento <span class=\"_ _26\"> </span>\u00e8 <span class=\"_ _26\"> </span>un'opzi<span class=\"_ _1\"></span>one <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>transizione <span class=\"_ _26\"> </span>relativa<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>alle <span class=\"_ _26\"> </span>informazioni <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>om<span class=\"_ _1\"></span>parative <span class=\"_ _26\"> </span>sulle <span class=\"_ _26\"> </span>attivit\u00e0<span class=\"_ _1\"></span> finanziarie <span class=\"_ _3\"></span>presentate alla <span class=\"_ _2\"></span>data di<span class=\"_ _3\"></span> applicazione <span class=\"_ _3\"></span>iniziale <span class=\"_ _3\"></span>dell'IFRS 17. <span class=\"_ _2\"></span>L'emenda<span class=\"_ _1\"></span>mento <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>volto <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>evitare<span class=\"_ _26a\"> </span>disallineamenti co<span class=\"_ _1\"></span>ntabili t<span class=\"_ _1\"></span>emporanei <span class=\"_ _1\"></span>tra attivit<span class=\"_ _1\"></span>\u00e0 finanzi<span class=\"_ _1\"></span>arie e <span class=\"_ _1\"></span>passivit\u00e0 d<span class=\"_ _1\"></span>i contratti <span class=\"_ _1\"></span>assicurativi, <span class=\"_ _1\"></span>e quindi<span class=\"_ _26a\"> </span>a <span class=\"_ _2\"></span>migliorare <span class=\"_ _2\"></span>l'uti<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>infor<span class=\"_ _1\"></span>mazioni <span class=\"_ _2\"></span>comparative <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>lettori <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>ilancio. <span class=\"_ _2\"></span>Le <span class=\"_ _2\"></span>mod<span class=\"_ _1\"></span>ifiche <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>applicheran<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>dal 1\u00b0 gennaio 2023<span class=\"_ _1\"></span>, unitamente all\u2019appl<span class=\"_ _1\"></span>icazione del princ<span class=\"_ _1\"></span>ipio IFRS 17. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  un  effett<span class=\"_ _1\"></span>o  significativo <span class=\"_ _26\"> </span>nel  bilancio  c<span class=\"_ _1\"></span>onsolidato  d<span class=\"_ _8\"></span>el  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In  data  12  febbraio  2021  lo  IASB  ha  pubblicato  due  emendamenti  denomi<span class=\"_ _1\"></span>nati  \u201c<span class=\"_ _1\"></span><span class=\"ffd\">Disc<span class=\"_ _1\"></span>losure  of<span class=\"_ _26a\"> </span></span></span></span>Accounting <span class=\"_ _20\"></span>Policies<span class=\"ff11\">\u2014<span class=\"_ _1\"></span></span>Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IAS <span class=\"_ _20\"></span>1 <span class=\"_ _11\"></span>and <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>Practice <span class=\"_ _20\"></span>Statement <span class=\"_ _20\"></span>2<span class=\"_ _1\"></span><span class=\"fff\">\u201d <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>\u201c</span>Defin<span class=\"_ _1\"></span>ition <span class=\"_ _11\"></span>of<span class=\"_ _26a\"> </span>Accounting Estimates<span class=\"_ _1\"></span><span class=\"ff11\">\u2014</span>A<span class=\"_ _1\"></span>mendments to IA<span class=\"_ _1\"></span>S 8<span class=\"fff\">\u201d. <span class=\"ff7\">L<span class=\"_ _1\"></span><span class=\"ff2\">e modifiche son<span class=\"_ _1\"></span>o volte a migl<span class=\"_ _1\"></span>iorare la <span class=\"_ _1\"></span></span>disclosure<span class=\"ff2\"> </span></span></span>sulle <span class=\"_ _11\"></span><span class=\"ff7\">account<span class=\"_ _1\"></span>ing <span class=\"_ _11\"></span>policy<span class=\"_ _1\"></span></span> <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>modo <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>for<span class=\"_ _1\"></span>nire <span class=\"_ _11\"></span>informaz<span class=\"_ _1\"></span>ioni <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _11\"></span>utili <span class=\"_ _11\"></span>agl<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>investitori <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>agli <span class=\"_ _20\"></span>altri <span class=\"_ _11\"></span>utilizzatori<span class=\"_ _26a\"> </span>primari <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>nch\u00e9 <span class=\"_ _1\"></span>ad <span class=\"_ _1\"></span>aiutare <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>distinguere <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>cam<span class=\"_ _1\"></span>biamenti <span class=\"_ _1\"></span>nelle<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>time c<span class=\"_ _1\"></span>ontabili <span class=\"_ _1\"></span>dai<span class=\"_ _26a\"> </span>cambiamenti <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span><span class=\"ff7\">accounting <span class=\"_ _3\"></span>policy.<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _2\"></span>Le mo<span class=\"_ _3\"></span>difiche <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>applic<span class=\"_ _1\"></span>heranno <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>1\u00b0 <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>ennaio <span class=\"_ _3\"></span>2023, <span class=\"_ _2\"></span>ma <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita<span class=\"_ _26a\"> </span></span></span>un\u2019applicazione <span class=\"_ _21\"> </span>anticipata. <span class=\"_ _21\"> </span>Gli <span class=\"_ _23\"> </span>amm<span class=\"_ _1\"></span>inistratori <span class=\"_ _23\"> </span>non <span class=\"_ _21\"> </span>si <span class=\"_ _21\"> </span>attendono <span class=\"_ _23\"> </span>un <span class=\"_ _21\"> </span>effetto <span class=\"_ _21\"> </span>significativo <span class=\"_ _21\"> </span>nel <span class=\"_ _23\"> </span>b<span class=\"_ _1\"></span>ilancio<span class=\"_ _26a\"> </span>consolidato del Gruppo <span class=\"_ _1\"></span>dall\u2019adozione d<span class=\"_ _1\"></span>i tali emendame<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data <span class=\"_ _3\"></span>7 maggio 2021 lo <span class=\"_ _3\"></span>IASB ha pubblicato un <span class=\"_ _3\"></span>emendamen<span class=\"_ _1\"></span>to d<span class=\"ff5\">enominato \u201c<span class=\"ffd\">Amen<span class=\"_ _1\"></span>dments to IAS <span class=\"_ _3\"></span>12<span class=\"_ _26a\"> </span></span></span></span>Income <span class=\"_ _2\"></span>Taxes:<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>Deferred <span class=\"_ _3\"></span>Tax <span class=\"_ _2\"></span>related<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>to <span class=\"_ _2\"></span>As<span class=\"_ _1\"></span>sets <span class=\"_ _2\"></span>and <span class=\"_ _2\"></span>L<span class=\"_ _1\"></span>iabilities <span class=\"_ _3\"></span>arising <span class=\"_ _2\"></span>from <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>Single <span class=\"_ _2\"></span>Tran<span class=\"_ _1\"></span>saction<span class=\"_ _1\"></span><span class=\"ff5\">\u201d<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _8\"></span>docum<span class=\"_ _1\"></span>ento <span class=\"_ _8\"></span>chi<span class=\"_ _1\"></span>arisce <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>me <span class=\"_ _11\"></span>devono <span class=\"_ _8\"></span>essere<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>contabi<span class=\"_ _1\"></span>lizzate <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>imposte <span class=\"_ _11\"></span>differite <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lcune <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>perazioni<span class=\"_ _26a\"> </span>che  poss<span class=\"_ _1\"></span>ono  generare<span class=\"_ _1\"></span>  att<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _1\"></span>  e <span class=\"_ _26\"> </span>passivit\u00e0  d<span class=\"_ _1\"></span>i  pari <span class=\"_ _26\"> </span>ammontare,  q<span class=\"_ _1\"></span>uali  i<span class=\"_ _1\"></span>l  leas<span class=\"_ _1\"></span>ing  e <span class=\"_ _90\"> </span>gl<span class=\"_ _1\"></span>i  obbl<span class=\"_ _1\"></span>ighi  di<span class=\"_ _26a\"> </span>smantellamento. Le modifiche <span class=\"_ _3\"></span>si applicheranno dal 1\u00b0 gennaio <span class=\"_ _3\"></span>2023, ma \u00e8 <span class=\"_ _3\"></span>consenti<span class=\"_ _1\"></span>ta <span class=\"_ _3\"></span>un\u2019app<span class=\"_ _1\"></span>licazione<span class=\"_ _26a\"> </span>anticipata. <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>li <span class=\"_ _23\"> </span>am<span class=\"_ _1\"></span>ministratori <span class=\"_ _21\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>attendon<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>u<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>effetto <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ignificativo<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>nel <span class=\"_ _21\"> </span>bilancio <span class=\"_ _21\"> </span>con<span class=\"_ _8\"></span>solidato <span class=\"_ _21\"> </span>del<span class=\"_ _26a\"> </span>Gruppo dall\u2019adozione d<span class=\"_ _1\"></span>i tale emendame<span class=\"_ _1\"></span>nto.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS non ancora omolog<span class=\"_ _1\"></span>ati dall\u2019Union<span class=\"_ _1\"></span>e Europea<span class=\"_ _8\"></span><span class=\"ff4\"> </span>Alla data di <span class=\"_ _3\"></span>riferime<span class=\"_ _1\"></span>nto del presente documento, gli organi competenti dell\u2019Unione<span class=\"_ _1\"></span> Europea non <span class=\"ff2\">hanno ancor<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>concluso <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>process<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>omologaz<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>necessari<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>l\u2019adozi<span class=\"_ _1\"></span>one <span class=\"_ _1e\"> </span>degl<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>dei <span class=\"_ _1e\"> </span>principi <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>otto<span class=\"_ _26a\"> </span>descritti.<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In dat<span class=\"_ _1\"></span>a 23 <span class=\"_ _1\"></span>gennai<span class=\"_ _1\"></span>o 20<span class=\"_ _1\"></span>20 l<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>IASB h<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>pubblicato <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>emendament<span class=\"_ _1\"></span>o de<span class=\"_ _1\"></span>nominato <span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ffd\">Amendments <span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>IAS<span class=\"_ _26a\"> </span></span></span></span>1 Presentation <span class=\"_ _1\"></span>of Financi<span class=\"_ _1\"></span>al Statement<span class=\"_ _1\"></span>s:<span class=\"_ _1\"></span> Classificat<span class=\"_ _1\"></span>ion of <span class=\"_ _1\"></span>Liabilities as Cur<span class=\"_ _1\"></span>rent <span class=\"_ _1\"></span>or Non<span class=\"_ _1\"></span>-current<span class=\"ff5 lsf\">\u201d<span class=\"_ _26a\"> </span></span>ed <span class=\"_ _20\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>data <span class=\"_ _23\"> </span>31 <span class=\"_ _20\"> </span>o<span class=\"_ _1\"></span>ttobre <span class=\"_ _23\"> </span>2022 <span class=\"_ _23\"> </span>ha <span class=\"_ _23\"> </span>pubblicato <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>emendamento <span class=\"_ _23\"> </span>denominat<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amendments <span class=\"_ _23\"> </span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _26a\"> </span></span>Presentation <span class=\"_ _21\"> </span>of <span class=\"_ _21\"> </span>Financial<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>Statements: <span class=\"_ _21\"> </span>Non<span class=\"_ _1\"></span>-<span class=\"_ _1\"></span><span class=\"ff11\">Current <span class=\"_ _21\"> </span>Liabilitie<span class=\"_ _1\"></span>s <span class=\"_ _21\"> </span>with <span class=\"_ _21\"> </span>Covena<span class=\"_ _1\"></span>nts\u201d<span class=\"_ _1\"></span><span class=\"ff2\">. <span class=\"_ _21\"> </span>I <span class=\"_ _21\"> </span>documenti<span class=\"_ _26a\"> </span></span></span>hanno <span class=\"_ _8\"></span>l\u2019obiettivo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>chiarire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>come<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>lassificare <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>debiti <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>altre <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>breve<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>lung<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine. <span class=\"_ _8\"></span>Le<span class=\"_ _26a\"> </span>modifiche <span class=\"_ _8\"></span>entrano <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>vigore <span class=\"_ _8\"></span>dal <span class=\"_ _1\"></span>1\u00b0 <span class=\"_ _8\"></span>gennaio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>024; <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>comunque<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conse<span class=\"_ _1\"></span>ntita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019applicazione <span class=\"_ _8\"></span>anticipata.<span class=\"_ _26a\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  u<span class=\"_ _1\"></span>n  effetto <span class=\"_ _26\"> </span>significativo  nel <span class=\"_ _26\"> </span>bilancio  consolidato <span class=\"_ _90\"> </span>d<span class=\"_ _1\"></span>el  Gruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In <span class=\"_ _11\"></span>data <span class=\"_ _11\"></span>22 <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ettembre <span class=\"_ _20\"></span>2022 <span class=\"_ _11\"></span>lo <span class=\"_ _11\"></span>IA<span class=\"_ _1\"></span>SB <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>pu<span class=\"_ _1\"></span>bblicato <span class=\"_ _11\"></span>un <span class=\"_ _20\"></span>emendamento <span class=\"_ _20\"></span>denominato <span class=\"_ _20\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amend<span class=\"_ _1\"></span>ments <span class=\"_ _11\"></span>to<span class=\"_ _26a\"> </span></span></span></span>IFRS <span class=\"_ _11\"></span>16 <span class=\"_ _20\"></span>Leases: <span class=\"_ _20\"> </span>Lease <span class=\"_ _20\"></span>L<span class=\"_ _1\"></span>iability <span class=\"_ _11\"></span>in <span class=\"_ _20\"> </span>a <span class=\"_ _20\"> </span>Sale <span class=\"_ _20\"> </span>and <span class=\"_ _20\"></span>Leaseback\u201d<span class=\"_ _1\"></span>. <span class=\"_ _20\"> </span><span class=\"ff2\">Il <span class=\"_ _20\"></span>documento <span class=\"_ _20\"></span>ric<span class=\"_ _1\"></span>hiede <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>enditore-<span class=\"_ _26a\"> </span></span>lessee d<span class=\"_ _1\"></span>i v<span class=\"_ _1\"></span>alutare l<span class=\"_ _1\"></span>a pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _1\"></span>per i<span class=\"_ _1\"></span>l lease <span class=\"_ _1\"></span>riven<span class=\"_ _1\"></span>iente d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>transazione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>sale <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>leaseback <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>modo<span class=\"_ _26a\"> </span>da non <span class=\"_ _1\"></span>rilev<span class=\"_ _1\"></span>are un <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ovento <span class=\"_ _1\"></span>o una <span class=\"_ _1\"></span>perdit<span class=\"_ _1\"></span>a che <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferis<span class=\"_ _1\"></span>cano <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>diritto d<span class=\"_ _1\"></span>\u2019uso trat<span class=\"_ _1\"></span>tenuto. <span class=\"_ _11\"></span><span class=\"ff2\">Le modif<span class=\"_ _1\"></span>iche si<span class=\"_ _1\"></span> </span>applicheranno dal <span class=\"_ _2\"></span>1\u00b0 <span class=\"_ _3\"></span>gen<span class=\"ff5\">na<span class=\"_ _1\"></span>io <span class=\"_ _2\"></span>20<span class=\"_ _1\"></span>24, <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita <span class=\"_ _3\"></span>un\u2019appl<span class=\"_ _1\"></span>icazione <span class=\"_ _3\"></span>anticipata. <span class=\"_ _3\"></span>Gli amministratori <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span></span>si <span class=\"_ _27\"> </span>attend<span class=\"_ _1\"></span>ono <span class=\"_ _27\"> </span>un<span class=\"_ _1\"></span> <span class=\"_ _27\"> </span>eff<span class=\"_ _1\"></span>etto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>ignificativo <span class=\"_ _12\"> </span>nel <span class=\"_ _27\"> </span>bilanci<span class=\"_ _1\"></span>o <span class=\"_ _27\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _12\"> </span>del <span class=\"_ _27\"> </span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _12\"> </span>dall\u2019adozione <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>tale<span class=\"_ _26a\"> </span>emendamento.<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 30 g<span class=\"_ _1\"></span>ennaio 2014 <span class=\"_ _1\"></span>lo IASB ha pu<span class=\"_ _1\"></span>bblicato il pri<span class=\"_ _1\"></span>ncipio <span class=\"_ _1\"></span><span class=\"ffd\">IFR<span class=\"_ _1\"></span>S 14 <span class=\"ff11\">\u2013</span> R<span class=\"_ _1\"></span>egulatory <span class=\"_ _1\"></span>Deferral Accounts<span class=\"_ _1\"></span></span> </span>che consente solo a coloro che adottano gli IFRS per l<span class=\"_ _1\"></span>a prima volta di continuare a rilevare gli importi<span class=\"_ _1\"></span> relativi alle <span class=\"_ _3\"></span>attivit\u00e0 soggette a tariffe regolamentate (\u201c<span class=\"ff7\">Rate Regulation<span class=\"ff2\"> </span>Activities<span class=\"_ _1\"></span></span>\u201d) secondo <span class=\"_ _3\"></span>i precedenti<span class=\"_ _26a\"> </span>principi <span class=\"_ _1e\"> </span>contab<span class=\"_ _1\"></span>ili <span class=\"_ _1e\"> </span>adottati. <span class=\"_ _1e\"> </span>Non <span class=\"_ _1f\"> </span>essendo <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _21\"> </span>u<span class=\"_ _1\"></span>n  <span class=\"ff7\">first-time <span class=\"_ _21\"> </span>ado<span class=\"_ _1\"></span>pter</span>, <span class=\"_ _1e\"> </span>tale <span class=\"_ _1e\"> </span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>risulta<span class=\"_ _1\"></span> applicabile.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-354": {
   "value": "2.1 Criteri generali di redazione Il bilancio consolidato di Emak S.p.A. e sue controllate (di seguito il \u201cGruppo Emak\u201d o il \u201cGruppo\u201d) \u00e8 stato predisposto  nel  rispetto  degli  IFRS  emessi  dall\u2019International  Accounting  Standard  Board  e  omologati dall\u2019Unione  Europea  al  momento  della sua  predisposizione.  Per IFRS  si intendono anche  gli  International Accounting Standard (IAS) tuttora in vigore, nonch\u00e9 tutti i documenti interpretativi emessi dall\u2019International Financial Reporting Interpretation Committee (IFRIC), precedentemente denominate Standing Interpretation Committee (SIC). Il bilancio consolidato \u00e8 stato predisposto applicando il metodo del costo storico, modificato per le attivit\u00e0 e passivit\u00e0 finanziarie (inclusi gli strumenti derivati) valutate al fair value.  Gli Amministratori in base agli elementi disponibili, ovvero informazioni disponibili e all\u2019attuale e prevedibile situazione reddituale finanziaria, hanno redatto il bilancio secondo il presupposto della continuit\u00e0 aziendale. In  base  agli  elementi  di  nostra  conoscenza,  ovvero  lo  stato  attuale  e  le  previsioni  future  delle  principali grandezze  economiche,  patrimoniali  e  finanziarie  del  Gruppo,  nonch\u00e9  l\u2019analisi  dei  rischi  del  Gruppo,  non sussistono  incertezze  significative  che  possano  pregiudicare  la  continuit\u00e0  dell\u2019operativit\u00e0  aziendale  nel prevedibile futuro.    In accordo con quanto previsto dal principio contabile internazionale IAS 1 il bilancio consolidato risulta essere costituito dai seguenti prospetti e documenti: - Prospetto  della  situazione  patrimoniale  finanziaria  consolidata:  classificazione  delle  poste  in  attivit\u00e0 correnti e non correnti e passivit\u00e0 correnti e non correnti; - Prospetto  del  conto  economico  consolidato  e  del  conto  economico  consolidato  complessivo: classificazione delle poste basata sulla loro natura e con rappresentazione del risultato operativo che non include gli effetti delle differenze cambio come da policy contabile storicamente adottata dal Gruppo; - Rendiconto finanziario consolidato: presentazione dei flussi finanziari secondo il metodo indiretto; - Prospetto delle variazioni delle poste di Patrimonio Netto Consolidato; - Note illustrative al bilancio consolidato. La redazione del bilancio in conformit\u00e0 agli IFRS richiede l\u2019uso di stime contabili da parte degli Amministratori. Le aree che comportano un elevato grado di giudizio o di complessit\u00e0 e le aree in cui le ipotesi e le stime possono avere un impatto significativo sul bilancio consolidato sono illustrate nella Nota 5. Con riferimento alla Delibera Consob n. 15519 del 27 luglio 2006 in merito agli schemi di bilancio, si precisa che i prospetti di conto economico e della situazione patrimoniale-finanziaria includono evidenza dei rapporti intervenuti con parti correlate. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-410": {
   "value": "Il bilancio consolidato di Emak S.p.A. e sue controllate (di seguito il \u201cGruppo Emak\u201d o il \u201cGruppo\u201d) \u00e8 stato  predisposto  nel  rispetto  degli  IFRS  emessi  dall\u2019International  Accounting  Standard  Board  e  omologati  dall\u2019Unione  Europea  al  momento  della sua  predisposizione.  Per IFRS  si intendono anche  gli  International  Accounting Standard (IAS) tuttora in vigore, nonch\u00e9 tutti i documenti interpretativi emessi dall\u2019International  Financial Reporting Interpretation Committee (IFRIC), precedentemente denominate Standing Interpretation  Committee (SIC). ",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-409": {
   "value": "Gli Amministratori in base agli elementi disponibili, ovvero informazioni disponibili e all\u2019attuale e prevedibile situazione reddituale finanziaria, hanno redatto il bilancio secondo il presupposto della continuit\u00e0 aziendale. In  base  agli  elementi  di  nostra  conoscenza,  ovvero  lo  stato  attuale  e  le  previsioni  future  delle  principal",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-355": {
   "value": "2.2 Principi di con<span class=\"_ _1\"></span>solidamento<span class=\"_ _1\"></span> Imprese controllate<span class=\"_ _1\"></span> Il bilanc<span class=\"_ _1\"></span>io co<span class=\"_ _1\"></span>nsolidato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ak incl<span class=\"_ _1\"></span>ude <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Emak <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>mprese <span class=\"_ _1\"></span>italiane <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>traniere<span class=\"_ _26a\"> </span>sulle <span class=\"_ _2\"></span>quali <span class=\"_ _2\"></span>Emak S<span class=\"_ _3\"></span>.p.A. <span class=\"_ _2\"></span>eser<span class=\"_ _1\"></span>cita <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>control<span class=\"_ _1\"></span>lo, <span class=\"_ _2\"></span>direttament<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>o <span class=\"_ _2\"></span>indiretta<span class=\"_ _1\"></span>mente, <span class=\"_ _2\"></span>determ<span class=\"_ _1\"></span>inandone <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>scelte <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _26a\"> </span>e gestionali ed ottene<span class=\"_ _1\"></span>ndone<span class=\"_ _1\"></span> <span class=\"ff5\">i relativi benefici, sec<span class=\"_ _1\"></span>ondo i criteri stabiliti d<span class=\"_ _1\"></span>all\u2019IFRS 10.<span class=\"_ _8\"></span></span> L\u2019acquisizione <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>imprese <span class=\"_ _12\"> </span>controllate <span class=\"_ _12\"> </span>viene <span class=\"_ _12\"> </span>rilevata <span class=\"_ _12\"> </span>utilizzando <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>metodo <span class=\"_ _12\"> </span>dell\u2019acqu<span class=\"_ _1\"></span>isto <span class=\"_ _27\"> </span>(<span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Acquisition<span class=\"_ _1\"></span> </span>method<span class=\"ff5\">\u201d), <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>atta <span class=\"_ _1\"></span>eccezio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizioni <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>alizzate <span class=\"_ _8\"></span>nell\u2019esercizio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>011 <span class=\"_ _1\"></span>con<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>c<span class=\"_ _8\"></span><span class=\"ff2\">ontrollante <span class=\"_ _8\"></span>Yama <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A. <span class=\"_ _1\"></span>Il<span class=\"_ _26a\"> </span></span></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>corrisponde <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>acquistat<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _26a\"> </span>emessi <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _20\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>essere <span class=\"_ _23\"></span>alla <span class=\"_ _20\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _20\"></span>senza <span class=\"_ _23\"></span>considerare <span class=\"_ _23\"></span>gli <span class=\"_ _20\"></span>interessi <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>minoranza.<span class=\"_ _1\"></span> L\u2019ecce<span class=\"ff2\">denza <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>costo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>acquisizione <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>al <span class=\"_ _23\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>identificabi<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>nette <span class=\"_ _20\"></span>acquisite, <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span></span>quota di pertinenza d<span class=\"_ _1\"></span>el Gruppo, \u00e8 rilevat<span class=\"_ _1\"></span>a come avviamento.<span class=\"_ _8\"></span> Se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>costo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>acquisizione <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>minore, <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>differenza <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>levata <span class=\"_ _3\"></span>direttamente <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>conto <span class=\"_ _3\"></span>ec<span class=\"_ _1\"></span>onomico <span class=\"_ _3\"></span>(Nota <span class=\"_ _3\"></span>2.7). <span class=\"_ _2\"></span>I <span class=\"_ _3\"></span>bilanci<span class=\"_ _26a\"> </span>delle <span class=\"_ _1\"></span>imprese <span class=\"_ _1\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _8\"></span>a partire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>in c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>assume <span class=\"_ _8\"></span>il contr<span class=\"_ _1\"></span>ollo<span class=\"_ _26a\"> </span>fino al moment<span class=\"_ _1\"></span>o in cui t<span class=\"_ _1\"></span>ale controllo<span class=\"_ _1\"></span> cessa di es<span class=\"_ _1\"></span>istere. Le <span class=\"_ _1\"></span>interessenze di<span class=\"_ _1\"></span> pertinenza di<span class=\"_ _1\"></span> terzi e <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i u<span class=\"_ _8\"></span>tile<span class=\"_ _26a\"> </span>o <span class=\"_ _23\"> </span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>esercizio<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle <span class=\"_ _21\"> </span>controllate <span class=\"_ _21\"> </span>attribuib<span class=\"_ _1\"></span>ili <span class=\"_ _23\"> </span>ai <span class=\"_ _21\"> </span>terz<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>sono <span class=\"_ _21\"> </span>identificate<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>ella <span class=\"_ _21\"> </span>situazione<span class=\"_ _26a\"> </span>patrimoniale <span class=\"ff5\">\u2013</span> fi<span class=\"_ _1\"></span>nanziaria e nel conto <span class=\"_ _1\"></span>economico conso<span class=\"_ _1\"></span>lidati.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Le imprese controllate <span class=\"_ _3\"></span>sono consolidate col metodo integrale dalla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ata in cui il Gruppo acquisisce il <span class=\"_ _3\"></span>controllo.<span class=\"_ _26a\"> </span>Nelle <span class=\"_ _12\"> </span>aggregazioni <span class=\"_ _27\"> </span>az<span class=\"_ _1\"></span>iendali <span class=\"_ _12\"> </span>realizzata <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>fasi, <span class=\"_ _12\"> </span>con <span class=\"_ _12\"> </span>presenza <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>pregre<span class=\"_ _1\"></span>ssi <span class=\"_ _27\"> </span>legam<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>partecipativi <span class=\"_ _27\"> </span>di<span class=\"_ _26a\"> </span>collegamento, <span class=\"_ _1\"></span>il conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _1\"></span>integrale <span class=\"_ _1\"></span>avviene <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data d<span class=\"_ _1\"></span>i acquis<span class=\"_ _1\"></span>izione <span class=\"_ _1\"></span>del c<span class=\"_ _1\"></span>ontrollo e <span class=\"_ _1\"></span>a m<span class=\"_ _1\"></span>edesima <span class=\"_ _1\"></span>data<span class=\"_ _26a\"> </span>avviene la rimisuraz<span class=\"_ _1\"></span>ione al fair value <span class=\"_ _1\"></span>della partecipazio<span class=\"_ _1\"></span>ne precedentement<span class=\"_ _1\"></span>e detenuta.<span class=\"_ _8\"></span> Si precisa che:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>la societ\u00e0 controllata Valley LLP, partecipata da <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> Usa Inc con una quota <span class=\"_ _3\"></span>pari al 94%, \u00e8 <span class=\"_ _3\"></span>consolidata<span class=\"_ _26a\"> </span></span>al <span class=\"_ _1\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>virt\u00f9<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>all <span class=\"_ _11\"></span>Option <span class=\"_ _1\"></span>Agree<span class=\"_ _1\"></span>ment</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>ola <span class=\"_ _1\"></span>l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>restante <span class=\"_ _8\"></span>6% <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>propr<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>una societ\u00e0 riconduc<span class=\"_ _1\"></span>ibile all\u2019attuale <span class=\"_ _1\"></span><span class=\"ff7\">CEO<span class=\"ff2\"> della c<span class=\"_ _1\"></span>ontrollata;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Markusson <span class=\"_ _1e\"> </span>Professional <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>rinders <span class=\"_ _21\"> </span>AB, <span class=\"_ _1e\"> </span>partecipata <span class=\"_ _21\"> </span>da <span class=\"_ _21\"> </span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _21\"> </span>S.r.l., <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>una <span class=\"_ _21\"> </span>quot<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>51%,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8<span class=\"_ _26a\"> </span></span>consolidata al 100% <span class=\"_ _1\"></span>in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreem<span class=\"_ _1\"></span>ent</span>\u201d che<span class=\"_ _1\"></span> regola l\u2019acquisto <span class=\"_ _1\"></span>del restante 49%;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Agres Sistemas <span class=\"_ _3\"></span>Eletr<span class=\"fs4\">\u00f4</span>nicos<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>S.A., pa<span class=\"_ _3\"></span>rtecipat<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Tecomec S.r.l., <span class=\"_ _3\"></span>con una <span class=\"_ _2\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>pari al<span class=\"_ _3\"></span> 91%, <span class=\"_ _2\"></span>\u00e8 consolidata<span class=\"_ _26a\"> </span></span>al 100% in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreemen<span class=\"_ _1\"></span>t</span>\u201d che regol<span class=\"_ _1\"></span>a l\u2019acquisto del rest<span class=\"_ _1\"></span>ante 9%;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">Poli <span class=\"_ _1\"></span>S.r.<span class=\"_ _1\"></span>l., <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ecipata <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Comet <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u201980%, <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidata <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>virt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>\u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put<span class=\"_ _26a\"> </span></span></span></span>and Call Option A<span class=\"_ _1\"></span>greement<span class=\"ff5\">\u201d<span class=\"_ _1\"></span> che regola l\u2019acquisto d<span class=\"_ _1\"></span>el restante 20%.<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span>Transazioni infragrupp<span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>ansazioni, i <span class=\"_ _2\"></span>sal<span class=\"_ _1\"></span>di <span class=\"_ _3\"></span>e gli <span class=\"_ _2\"></span>utili non <span class=\"_ _3\"></span>realizzati <span class=\"_ _3\"></span>in operazioni <span class=\"_ _3\"></span>tra societ\u00e0 <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>Gruppo sono <span class=\"_ _3\"></span>eliminati. Le <span class=\"_ _2\"></span>perdite<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span>realizzate sono eliminate <span class=\"_ _3\"></span>allo stesso modo, a <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>no che <span class=\"_ _3\"></span>l\u2019opera<span class=\"_ _8\"></span>zione evidenzi una perdi<span class=\"_ _3\"></span>ta di valore dell\u2019attivit\u00e0<span class=\"_ _26a\"> </span>trasferita. <span class=\"_ _3\"></span>I <span class=\"_ _3\"></span>bilanci delle <span class=\"_ _3\"></span>imprese <span class=\"_ _3\"></span>incluse nell\u2019area <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>consolidam<span class=\"_ _1\"></span>ento <span class=\"_ _3\"></span>sono stati <span class=\"_ _2\"></span>opp<span class=\"_ _1\"></span>ortunamente modificati, <span class=\"_ _3\"></span>ove<span class=\"_ _26a\"> </span>necessario, per uniformar<span class=\"_ _1\"></span>li ai principi co<span class=\"_ _1\"></span>ntabili adottati <span class=\"_ _1\"></span>dal Gruppo.<span class=\"_ _1\"></span> Imprese collegate <span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>imprese <span class=\"_ _8\"></span>collegate <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cui <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>esercita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019influenza <span class=\"_ _8\"></span>notev<span class=\"_ _1\"></span>ole <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os\u00ec <span class=\"_ _8\"></span>come <span class=\"_ _8\"></span>definita <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>llo<span class=\"_ _26a\"> </span>IAS 28 <span class=\"ff5\">\u2013</span> <span class=\"_ _3\"></span><span class=\"ff7\">Partecipaz<span class=\"_ _1\"></span>ioni in collegate e j<span class=\"_ _3\"></span>oint venture<span class=\"_ _1\"></span><span class=\"ff2 ls5\">, ma non il controllo, sulle politiche finanziari<span class=\"_ _1\"></span>e ed operative.<span class=\"_ _26a\"> </span></span></span>Le <span class=\"_ _11\"></span>partecipazioni <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>societ<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _11\"></span>col<span class=\"_ _1\"></span>legate <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>contabiliz<span class=\"_ _1\"></span>zate <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>metodo <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>patrimonio <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>partire <span class=\"_ _11\"></span>dal<span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span>data in cui inizia l\u2019inf<span class=\"_ _1\"></span>luenza notevole fin<span class=\"_ _1\"></span>o al momento in c<span class=\"_ _1\"></span>ui la stessa cessa d<span class=\"_ _1\"></span>i esistere.<span class=\"_ _26a\"> </span>Area di consolidamen<span class=\"_ _1\"></span>to<span class=\"ff2\"> </span>L\u2019area di <span class=\"_ _3\"></span>consol<span class=\"_ _1\"></span>idamento al 31 di<span class=\"_ _3\"></span>cembre 2022 include le s<span class=\"_ _1\"></span><span class=\"ff2\">eguenti societ\u00e0 consolidate con il <span class=\"_ _3\"></span>metodo integrale:<span class=\"_ _26a\"> </span></span><span class=\"ff2\"><span class=\"_ _1\"></span> </span>(<span class=\"fs2\">1) Poli S.r.l. \u00e8 <span class=\"_ _3\"></span>consolidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option<span class=\"_ _3\"></span> Agreement\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019a<span class=\"_ _3\"></span>cquisto del res<span class=\"_ _3\"></span>tante 20%. <span class=\"ff2\"> </span></span></span></span></span>(2) <span class=\"_ _8\"></span>Markusson <span class=\"_ _8\"></span><span class=\"ff5\">Professiona<span class=\"_ _3\"></span>l <span class=\"_ _8\"></span>Grinders <span class=\"_ _8\"></span>AB <span class=\"_ _11\"></span>\u00e8<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>consolidata <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>irt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put <span class=\"_ _8\"></span>and <span class=\"_ _8\"></span>Call <span class=\"_ _8\"></span>Option <span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>greement</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>regola <span class=\"_ _8\"></span>l\u2019acquisto<span class=\"_ _3\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _26a\"> </span></span><span class=\"ff5\">l<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>restante 49%.<span class=\"_ _3\"></span> (3) Valley Indu<span class=\"_ _3\"></span>stries LLP \u00e8 con<span class=\"_ _3\"></span>solidata al 100% in<span class=\"_ _3\"></span> virt\u00f9 del <span class=\"fff\">\u201cPut &amp; Call Option Agree<span class=\"_ _3\"></span>ment\u201d<span class=\"ff2\"> <span class=\"ff5\">che regola l\u2019<span class=\"_ _3\"></span>acquisto del res<span class=\"_ _3\"></span>tan<span class=\"ff2\">te 6%. </span></span></span></span><span class=\"fff\"><span class=\"ff2\"><span class=\"ff5\"><span class=\"ff2\"> </span></span></span></span>(4) Agre<span class=\"_ _3\"></span>s Sistemas E<span class=\"_ _3\"></span>letr\u00f4nicos S.<span class=\"_ _3\"></span>A. \u00e8 con<span class=\"_ _3\"></span>solidata al 10<span class=\"_ _3\"></span>0% in virt\u00f9 <span class=\"_ _3\"></span>del \u201c<span class=\"ff7\">Put and <span class=\"_ _3\"></span>Call Option <span class=\"_ _3\"></span>Agreement<span class=\"ff5\">\u201d <span class=\"_ _3\"></span>che regola <span class=\"_ _3\"></span>l\u2019acquisto del <span class=\"_ _3\"></span>restant<span class=\"_ _26a\"> </span></span></span><span class=\"ff7\"><span class=\"ff5\">e<span class=\"_ _3\"></span> </span></span>9%.<span class=\"_ _26a\"> </span> Rispetto <span class=\"_ _11\"></span>al <span class=\"_ _20\"></span>31 <span class=\"_ _20\"></span>dicembre <span class=\"_ _11\"></span>2<span class=\"_ _1\"></span>021 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>entrata <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>far <span class=\"_ _20\"></span>parte <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ell\u2019area <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>consol<span class=\"_ _1\"></span>idamento <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _20\"></span>spagnola <span class=\"_ _11\"></span>Tre<span class=\"_ _1\"></span>bol<span class=\"_ _26a\"> </span> Maquinaria y <span class=\"_ _2\"></span>Su<span class=\"_ _1\"></span>ministros S.A. <span class=\"_ _3\"></span>(di <span class=\"_ _3\"></span>cui la <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ontrollata Sabart <span class=\"_ _3\"></span>S.r.l., in <span class=\"_ _2\"></span>data 13 <span class=\"_ _3\"></span>ottobre 2022, <span class=\"_ _3\"></span>ha acquisito <span class=\"_ _3\"></span>l\u201983,33%<span class=\"_ _26a\"> </span> ed \u00e8 inclusa nel bilanc<span class=\"_ _1\"></span>io consolida<span class=\"_ _1\"></span><span class=\"ff5\">to a partire da<span class=\"_ _1\"></span>ll\u2019ultimo trimestr<span class=\"_ _1\"></span>e 2022).<span class=\"_ _1\"></span></span> Nel <span class=\"_ _8\"></span>2021 <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>risultati <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>P<span class=\"_ _1\"></span>oli <span class=\"_ _8\"></span>S.r.l. <span class=\"_ _11\"></span>erano <span class=\"_ _8\"></span>stati <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nclusi <span class=\"_ _8\"></span>nell\u2019area <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>consolidamen<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>part<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>dall\u2019ultimo<span class=\"_ _1\"></span> trimestre dell\u2019esercizio<span class=\"_ _1\"></span>.<span class=\"ff2\"> </span>Denom<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _136\"> </span>S<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>de<span class=\"_ _26a\"> </span>Capi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> s<span class=\"_ _2\"></span>ocia<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>luta<span class=\"_ _26a\"> </span>Quota <span class=\"_ _1\"></span>%<span class=\"_ _2\"></span> cons<span class=\"_ _2\"></span>oli<span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span> di <span class=\"_ _1\"></span>gruppo<span class=\"_ _26a\"> </span>Pa<span class=\"_ _8\"></span>rtecipa<span class=\"_ _8\"></span>nte<span class=\"_ _26a\"> </span>%<span class=\"_ _9\"></span> <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span> pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span>cipa<span class=\"_ _8\"></span>zi<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> s<span class=\"_ _2\"></span>ul <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>pi<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span>le<span class=\"_ _26a\"> </span>Capogrup<span class=\"_ _1\"></span>po<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _33\"> </span>B<span class=\"_ _1\"></span>agn<span class=\"_ _3\"></span>olo in P<span class=\"_ _1\"></span>iano<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- RE (I<span class=\"_ _3\"></span>)<span class=\"_ _10d\"> </span>42.623<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>057<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _26a\"> </span></span>Ita<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _b2\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _82\"> </span>2.<span class=\"_ _1\"></span>600<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _fb\"> </span>Ru<span class=\"_ _3\"></span>bier<span class=\"_ _3\"></span>a - RE <span class=\"_ _1\"></span>(I<span class=\"_ _2\"></span>)<span class=\"_ _b5\"> </span>55.556<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ca\"> </span>Reg<span class=\"_ _3\"></span>gio Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>900<span class=\"_ _3\"></span>.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _16c\"> </span>Re<span class=\"_ _3\"></span>ggio<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ilia (I)<span class=\"_ _82\"> </span>1<span class=\"_ _3\"></span>.580.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _12b\"> </span>Pegog<span class=\"_ _3\"></span>nag<span class=\"_ _3\"></span>a - M<span class=\"_ _1\"></span>N (I<span class=\"_ _2\"></span>)<span class=\"_ _80\"> </span>3.<span class=\"_ _1\"></span>186<span class=\"_ _3\"></span>.161 <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _5f\"> </span></span>98,45<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>98,45<span class=\"_ _26a\"> </span>Poli <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(1)<span class=\"_ _cb\"> </span>Co<span class=\"_ _3\"></span>lorn<span class=\"_ _3\"></span>o - P<span class=\"_ _1\"></span>R (I<span class=\"_ _2\"></span>)<span class=\"_ _e2\"> </span>60.000<span class=\"_ _3\"></span> <span class=\"_ _99\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c7\"> </span></span>1<span class=\"_ _3\"></span>00,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _67\"> </span>80,00<span class=\"_ _26a\"> </span>E<span class=\"_ _3\"></span>uropa<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Suminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Es<span class=\"_ _1\"></span>pana<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>A<span class=\"_ _cf\"> </span>Getaf<span class=\"_ _2\"></span>e <span class=\"_ _1\"></span>- Madr<span class=\"_ _3\"></span>id (E)<span class=\"_ _6a\"> </span>270.459<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>90,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>90,00<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _dd\"> </span>Wolfisheim (F)<span class=\"_ _83\"> </span>320.000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100,00<span class=\"_ _28\"> </span>C<span class=\"_ _3\"></span>omet <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>De<span class=\"_ _3\"></span>uts<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>hland<span class=\"_ _3\"></span> Gmbh<span class=\"_ _e8\"> </span>Fellbach <span class=\"_ _1\"></span>- Oef<span class=\"_ _2\"></span>fing<span class=\"_ _3\"></span>en (D<span class=\"_ _3\"></span>)<span class=\"_ _de\"> </span>553.218<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>ce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _16d\"> </span>Rixheim (F)<span class=\"_ _e2\"> </span>2.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _c3\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>U.K.<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>ntwoo<span class=\"_ _3\"></span>d (U<span class=\"_ _3\"></span>K<span class=\"_ _1\"></span>)<span class=\"_ _67\"> </span>342.090<span class=\"_ _54\"> </span>GBP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Epic<span class=\"_ _1\"></span>enter<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>LLC<span class=\"_ _c8\"> </span>Kiev<span class=\"_ _9\"></span> <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>A)<span class=\"_ _3b\"> </span>19<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>026<span class=\"_ _3\"></span>.200<span class=\"_ _96\"> </span>UAH<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>E<span class=\"_ _1\"></span>mak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> F<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _dd\"> </span>A<span class=\"_ _1\"></span>rna<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span> (F)<span class=\"_ _119\"> </span>300.00<span class=\"_ _3\"></span>0<span class=\"_ _a3\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _16b\"> </span></span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _4\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Vic<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>us-Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Sp. <span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span> o.<span class=\"_ _1\"></span>o.<span class=\"_ _16e\"> </span>Poz<span class=\"_ _1\"></span>nan<span class=\"_ _3\"></span> (PL)<span class=\"_ _b9\"> </span>10.168.000<span class=\"_ _97\"> </span>PLN<span class=\"_ _112\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.S<span class=\"_ _64\"> </span>La Cou<span class=\"_ _3\"></span>rn<span class=\"_ _3\"></span>euv<span class=\"_ _9\"></span>e (F)<span class=\"_ _dd\"> </span>3<span class=\"_ _3\"></span>7.000<span class=\"_ _3\"></span> <span class=\"_ _61\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _d9\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>GB <span class=\"_ _1\"></span>Ltd<span class=\"_ _4f\"> </span>S<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>. <span class=\"_ _1\"></span>Hele<span class=\"_ _3\"></span>ns <span class=\"_ _1\"></span>Mersey<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ide (U<span class=\"_ _3\"></span>K)<span class=\"_ _12f\"> </span>90<span class=\"_ _3\"></span>0.000<span class=\"_ _3\"></span> <span class=\"_ _10\"> </span>GBP<span class=\"_ _89\"> </span>9<span class=\"_ _3\"></span>8,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>Pols<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>P.<span class=\"_ _1\"></span>Z<span class=\"_ _3\"></span>OO<span class=\"_ _e1\"> </span>Bydgosz<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span> (PL)<span class=\"_ _16f\"> </span>163<span class=\"_ _3\"></span>.500 <span class=\"_ _24\"> </span>PLN<span class=\"_ _89\"> </span>98<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>45<span class=\"_ _28\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>or<span class=\"_ _3\"></span>wa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a S<span class=\"_ _1\"></span>.L.<span class=\"_ _4\"> </span>T<span class=\"_ _2\"></span>arra<span class=\"_ _3\"></span>gon<span class=\"_ _3\"></span>a (E)<span class=\"_ _170\"> </span>80.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Markuss<span class=\"_ _1\"></span>on P<span class=\"_ _1\"></span>ro<span class=\"_ _3\"></span>fe<span class=\"_ _3\"></span>ss<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ona<span class=\"_ _3\"></span>l Grinde<span class=\"_ _3\"></span>rs <span class=\"_ _1\"></span>AB<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(2)<span class=\"_ _90\"> </span>Rimbo (SE)<span class=\"_ _b4\"> </span>50.000<span class=\"_ _3\"></span> <span class=\"_ _0\"> </span><span class=\"ls2b\">SEK<span class=\"_ _112\"> </span></span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>rebo<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>Maqu<span class=\"_ _3\"></span>inar<span class=\"_ _3\"></span>ia y<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>uminist<span class=\"_ _1\"></span>ros <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A.<span class=\"_ _171\"> </span>A <span class=\"_ _1\"></span>Cor<span class=\"_ _3\"></span>u\u00f1<span class=\"_ _3\"></span>a (E)<span class=\"_ _172\"> </span>75.00<span class=\"_ _3\"></span>0 <span class=\"_ _146\"> </span><span class=\"ff5\">\u20ac<span class=\"_ _128\"> </span></span>83,33<span class=\"_ _28\"> </span>Sabar<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.l<span class=\"_ _1\"></span>.<span class=\"_ _173\"> </span>83,33<span class=\"_ _26a\"> </span>Ame<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>ca<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa Inc<span class=\"_ _3e\"> </span>Bur<span class=\"_ _3\"></span>nsv<span class=\"_ _2\"></span>ill<span class=\"_ _1\"></span>e - Minnesota <span class=\"_ _1\"></span>(U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _b8\"> </span>231<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>090<span class=\"_ _171\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _c5\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>51.77<span class=\"_ _3\"></span>7.052<span class=\"_ _174\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>99,63<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>0,<span class=\"_ _1\"></span>37<span class=\"_ _26a\"> </span>23.55<span class=\"_ _3\"></span>7.909<span class=\"_ _174\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _55\"> </span>99,98<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,02<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C W<span class=\"_ _1\"></span>aterbla<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ing LLC<span class=\"_ _7a\"> </span>B<span class=\"_ _1\"></span>urn<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>v<span class=\"_ _2\"></span>ille - M<span class=\"_ _1\"></span>inne<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>ota (USA)<span class=\"_ _b8\"> </span>285.000<span class=\"_ _175\"></span><span class=\"ls2c\">       <span class=\"ls1\"> <span class=\"_ _93\"> </span>USD<span class=\"_ _8d\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>Comet Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _d2\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>1.000<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>000<span class=\"_ _3\"></span> <span class=\"_ _16c\"> </span>C<span class=\"_ _2\"></span>omet <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _67\"> </span>97,00<span class=\"_ _26a\"> </span>PT<span class=\"_ _3\"></span>C S.<span class=\"_ _1\"></span>r.l.<span class=\"_ _c6\"> </span>3,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> S<span class=\"_ _1\"></span>outh A<span class=\"_ _1\"></span>merica S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _16b\"> </span>Prov<span class=\"_ _9\"></span>iden<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ia - S<span class=\"_ _1\"></span>antiago (R<span class=\"_ _2\"></span>CH)<span class=\"_ _22\"> </span>4<span class=\"_ _3\"></span>44.850<span class=\"_ _3\"></span>.860<span class=\"_ _97\"> </span>CLP<span class=\"_ _cf\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>Valley<span class=\"_ _1\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>ries <span class=\"_ _1\"></span>LLP (3)<span class=\"_ _64\"> </span>Paynesv<span class=\"_ _2\"></span>ille <span class=\"_ _1\"></span>- Minnesota (USA)<span class=\"_ _d3\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _61\"> </span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>Usa <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>nc<span class=\"_ _c5\"> </span>94<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span></span></span>Speed<span class=\"_ _3\"></span> North Am<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a In<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>.<span class=\"_ _e3\"> </span>W<span class=\"_ _1\"></span>oost<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>- Ohio (U<span class=\"_ _3\"></span>SA<span class=\"_ _1\"></span>)<span class=\"_ _f6\"> </span><span class=\"ls2d\">10<span class=\"_ _96\"> </span></span>USD<span class=\"_ _8d\"> </span>100,00<span class=\"_ _28\"> </span>Speed<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Fra<span class=\"_ _3\"></span>nce <span class=\"_ _1\"></span>SA<span class=\"_ _1\"></span>S<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>19.29<span class=\"_ _3\"></span>1.875 <span class=\"_ _177\"> </span>Lav<span class=\"_ _c\"></span>orwa<span class=\"_ _3\"></span>sh <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _31\"> </span>9<span class=\"_ _3\"></span>9,99<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>met <span class=\"_ _1\"></span>do Brasil<span class=\"_ _1\"></span> LT<span class=\"_ _3\"></span>DA<span class=\"_ _128\"> </span>0,01<span class=\"_ _26a\"> </span>Spraycom <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>omercio de pecas <span class=\"_ _1\"></span>para<span class=\"_ _3\"></span> agr<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>oltura<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>A<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>Ca<span class=\"_ _3\"></span>tanduv<span class=\"_ _c\"></span>a <span class=\"_ _1\"></span>(BR)<span class=\"_ _b9\"> </span>53<span class=\"_ _3\"></span>3.410<span class=\"_ _97\"> </span>BRL<span class=\"_ _89\"> </span>51<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>51<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>00<span class=\"_ _26a\"> </span>Agres S<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>emas <span class=\"_ _1\"></span>El<span class=\"_ _1\"></span>etr<span class=\"ff8\">\u00f4</span>nic<span class=\"_ _1\"></span>os <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.A<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> (4)<span class=\"_ _61\"> </span>U<span class=\"_ _3\"></span>ber<span class=\"_ _3\"></span>ab<span class=\"_ _3\"></span>a (BR)<span class=\"_ _16f\"> </span>1<span class=\"_ _3\"></span>.047.000<span class=\"_ _97\"> </span>BRL<span class=\"_ _112\"> </span>100,00<span class=\"_ _28\"> </span>T<span class=\"_ _2\"></span>ecomec<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>r.l.<span class=\"_ _ed\"> </span>91,00<span class=\"_ _26a\"> </span>Res<span class=\"_ _2\"></span>to <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span> m<span class=\"_ _1\"></span>ond<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> E<span class=\"_ _1\"></span>mak<span class=\"_ _1\"></span> Outdoor<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Powe<span class=\"_ _3\"></span>r<span class=\"_ _26a\"> </span> Equipmen<span class=\"_ _3\"></span>t <span class=\"_ _1\"></span>Co.Ltd<span class=\"_ _26a\"> </span> Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> (RPC)<span class=\"_ _31\"> </span>25.532.493<span class=\"_ _54\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span>Nin<span class=\"_ _3\"></span>gbo<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>ec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>Manuf<span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _f7\"> </span>N<span class=\"_ _3\"></span>ingb<span class=\"_ _3\"></span>o City<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _64\"> </span>8.029.49<span class=\"_ _3\"></span>4<span class=\"_ _2d\"> </span>RMB<span class=\"_ _8d\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _28\"> </span>T<span class=\"_ _3\"></span>ecomec <span class=\"_ _1\"></span>S<span class=\"_ _1\"></span>.r.<span class=\"_ _1\"></span>l.<span class=\"_ _4\"> </span>10<span class=\"_ _3\"></span>0,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Ind<span class=\"_ _3\"></span>ust<span class=\"_ _1\"></span>rie Sarl<span class=\"_ _67\"> </span>Moh<span class=\"_ _3\"></span>ammedia (MA)<span class=\"_ _d6\"> </span>1.445.000<span class=\"_ _54\"> </span>M<span class=\"_ _1\"></span>AD<span class=\"_ _178\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _28\"> </span>S<span class=\"_ _1\"></span>pee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>e S<span class=\"_ _1\"></span>AS<span class=\"_ _e1\"> </span>100,00<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ai <span class=\"_ _1\"></span>Lon<span class=\"_ _3\"></span>g (Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i) Mac<span class=\"_ _1\"></span>hine<span class=\"_ _3\"></span>ry<span class=\"_ _26a\"> </span> Manu<span class=\"_ _3\"></span>fa<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>turing<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>Ltd<span class=\"_ _26a\"> </span>Z<span class=\"_ _2\"></span>huha<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>(R<span class=\"_ _3\"></span>PC)<span class=\"_ _f6\"> </span>16.353<span class=\"_ _3\"></span>.001<span class=\"_ _2d\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Emak<span class=\"_ _1\"></span> S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Speed<span class=\"_ _3\"></span> Line S<span class=\"_ _1\"></span>outh Afr<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>a Lt<span class=\"_ _1\"></span>d<span class=\"_ _7d\"> </span>P<span class=\"_ _1\"></span>ietermar<span class=\"_ _3\"></span>itz<span class=\"_ _1\"></span>burg<span class=\"_ _3\"></span> (Z<span class=\"_ _3\"></span>A)<span class=\"_ _c5\"> </span><span class=\"ls2d\">100<span class=\"_ _99\"> </span></span>Z<span class=\"_ _3\"></span>AR<span class=\"_ _89\"> </span>51,00<span class=\"_ _28\"> </span>Spee<span class=\"_ _3\"></span>d France S<span class=\"_ _1\"></span>AS<span class=\"_ _f3\"> </span>51,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>Equipmen<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span> Co. <span class=\"_ _1\"></span>Ltd<span class=\"_ _1f\"> </span>Y<span class=\"_ _1\"></span>ongkang<span class=\"_ _3\"></span> Cit<span class=\"_ _1\"></span>y <span class=\"_ _1\"></span>(RPC)<span class=\"_ _d4\"> </span>63.016<span class=\"_ _3\"></span>.019 <span class=\"_ _25\"> </span>RMB<span class=\"_ _b3\"> </span>98,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _1\"></span>h S<span class=\"_ _1\"></span>.p.<span class=\"_ _1\"></span>A.<span class=\"_ _68\"> </span>100<span class=\"_ _3\"></span>,00<span class=\"_ _26a\"> </span>Yongkang<span class=\"_ _3\"></span> Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash <span class=\"_ _1\"></span>T<span class=\"_ _2\"></span>radin<span class=\"_ _3\"></span>g Co. Lt<span class=\"_ _1\"></span>d<span class=\"_ _96\"> </span>Y<span class=\"_ _1\"></span>ong<span class=\"_ _3\"></span>k<span class=\"_ _1\"></span>ang<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>City<span class=\"_ _1\"></span> (RPC)<span class=\"_ _e1\"> </span>3.930.57<span class=\"_ _3\"></span>9 <span class=\"_ _25\"> </span>RMB<span class=\"_ _a0\"> </span>98<span class=\"_ _3\"></span>,45<span class=\"_ _28\"> </span>Lav<span class=\"_ _9\"></span>orw<span class=\"_ _3\"></span>ash S<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _f2\"> </span>100,00<span class=\"_ _26a\"> </span>Jia<span class=\"_ _3\"></span>ngmen<span class=\"_ _3\"></span> A<span class=\"_ _1\"></span>utec<span class=\"_ _1\"></span>h E<span class=\"_ _1\"></span>qu<span class=\"_ _3\"></span>ipment <span class=\"_ _1\"></span>Co<span class=\"_ _3\"></span>. <span class=\"_ _1\"></span>Ltd<span class=\"_ _61\"> </span>J<span class=\"_ _3\"></span>iang<span class=\"_ _3\"></span>men (R<span class=\"_ _3\"></span>PC)<span class=\"_ _174\"> </span>-<span class=\"_ _176\"></span><span class=\"ls2c\">                 <span class=\"ls1\"> <span class=\"_ _146\"> </span>RMB<span class=\"_ _178\"> </span>100,00<span class=\"_ _28\"> </span>Em<span class=\"_ _1\"></span>ak <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A<span class=\"_ _1\"></span>.<span class=\"_ _65\"> </span>100,00<span class=\"_ _26a\"> </span></span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-437": {
   "value": "Imprese controllate Il bilancio consolidato del Gruppo Emak include il bilancio di Emak S.p.A. e delle imprese italiane e straniere sulle quali Emak S.p.A. esercita il controllo, direttamente o indirettamente, determinandone le scelte finanziarie e gestionali ed ottenendone i relativi benefici, secondo i criteri stabiliti dall\u2019IFRS 10. L\u2019acquisizione  delle  imprese  controllate  viene  rilevata  utilizzando  il  metodo  dell\u2019acquisto  (\u201cAcquisition method\u201d), fatta eccezione per le acquisizioni realizzate nell\u2019esercizio 2011 con la controllante Yama S.p.A. Il costo di acquisizione corrisponde inizialmente al fair value delle attivit\u00e0 acquistate, degli strumenti finanziari emessi e delle passivit\u00e0 in essere alla data di acquisizione, senza considerare gli interessi di minoranza. L\u2019eccedenza del costo di acquisizione rispetto al fair value delle attivit\u00e0 identificabili nette acquisite, per la quota di pertinenza del Gruppo, \u00e8 rilevata come avviamento. Se il costo di acquisizione \u00e8 minore, la differenza \u00e8 rilevata direttamente a conto economico (Nota 2.7). I bilanci delle imprese controllate sono inclusi nel bilancio consolidato a partire dalla data in cui si assume il controllo fino al momento in cui tale controllo cessa di esistere. Le interessenze di pertinenza di terzi e la quota di utile o  perdita  di  esercizio  delle  controllate  attribuibili  ai  terzi  sono  identificate  separatamente  nella  situazione patrimoniale \u2013 finanziaria e nel conto economico consolidati. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-445": {
   "value": "Imprese controllate<span class=\"_ _1\"></span> Il bilanc<span class=\"_ _1\"></span>io co<span class=\"_ _1\"></span>nsolidato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ak incl<span class=\"_ _1\"></span>ude <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Emak <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>mprese <span class=\"_ _1\"></span>italiane <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>traniere<span class=\"_ _26a\"> </span>sulle <span class=\"_ _2\"></span>quali <span class=\"_ _2\"></span>Emak S<span class=\"_ _3\"></span>.p.A. <span class=\"_ _2\"></span>eser<span class=\"_ _1\"></span>cita <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>control<span class=\"_ _1\"></span>lo, <span class=\"_ _2\"></span>direttament<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>o <span class=\"_ _2\"></span>indiretta<span class=\"_ _1\"></span>mente, <span class=\"_ _2\"></span>determ<span class=\"_ _1\"></span>inandone <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>scelte <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _26a\"> </span>e gestionali ed ottene<span class=\"_ _1\"></span>ndone<span class=\"_ _1\"></span> <span class=\"ff5\">i relativi benefici, sec<span class=\"_ _1\"></span>ondo i criteri stabiliti d<span class=\"_ _1\"></span>all\u2019IFRS 10.<span class=\"_ _8\"></span></span> L\u2019acquisizione <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>imprese <span class=\"_ _12\"> </span>controllate <span class=\"_ _12\"> </span>viene <span class=\"_ _12\"> </span>rilevata <span class=\"_ _12\"> </span>utilizzando <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>metodo <span class=\"_ _12\"> </span>dell\u2019acqu<span class=\"_ _1\"></span>isto <span class=\"_ _27\"> </span>(<span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Acquisition<span class=\"_ _1\"></span> </span>method<span class=\"ff5\">\u201d), <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>atta <span class=\"_ _1\"></span>eccezio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizioni <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>alizzate <span class=\"_ _8\"></span>nell\u2019esercizio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>011 <span class=\"_ _1\"></span>con<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>c<span class=\"_ _8\"></span><span class=\"ff2\">ontrollante <span class=\"_ _8\"></span>Yama <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A. <span class=\"_ _1\"></span>Il<span class=\"_ _26a\"> </span></span></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>corrisponde <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>acquistat<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _26a\"> </span>emessi <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _20\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>essere <span class=\"_ _23\"></span>alla <span class=\"_ _20\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _20\"></span>senza <span class=\"_ _23\"></span>considerare <span class=\"_ _23\"></span>gli <span class=\"_ _20\"></span>interessi <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>minoranza.<span class=\"_ _1\"></span> L\u2019ecce<span class=\"ff2\">denza <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>costo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>acquisizione <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>al <span class=\"_ _23\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>identificabi<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>nette <span class=\"_ _20\"></span>acquisite, <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span></span>quota di pertinenza d<span class=\"_ _1\"></span>el Gruppo, \u00e8 rilevat<span class=\"_ _1\"></span>a come avviamento.<span class=\"_ _8\"></span> Se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>costo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>acquisizione <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>minore, <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>differenza <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>levata <span class=\"_ _3\"></span>direttamente <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>conto <span class=\"_ _3\"></span>ec<span class=\"_ _1\"></span>onomico <span class=\"_ _3\"></span>(Nota <span class=\"_ _3\"></span>2.7). <span class=\"_ _2\"></span>I <span class=\"_ _3\"></span>bilanci<span class=\"_ _26a\"> </span>delle <span class=\"_ _1\"></span>imprese <span class=\"_ _1\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _8\"></span>a partire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>in c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>assume <span class=\"_ _8\"></span>il contr<span class=\"_ _1\"></span>ollo<span class=\"_ _26a\"> </span>fino al moment<span class=\"_ _1\"></span>o in cui t<span class=\"_ _1\"></span>ale controllo<span class=\"_ _1\"></span> cessa di es<span class=\"_ _1\"></span>istere. Le <span class=\"_ _1\"></span>interessenze di<span class=\"_ _1\"></span> pertinenza di<span class=\"_ _1\"></span> terzi e <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i u<span class=\"_ _8\"></span>tile<span class=\"_ _26a\"> </span>o <span class=\"_ _23\"> </span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>esercizio<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle <span class=\"_ _21\"> </span>controllate <span class=\"_ _21\"> </span>attribuib<span class=\"_ _1\"></span>ili <span class=\"_ _23\"> </span>ai <span class=\"_ _21\"> </span>terz<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>sono <span class=\"_ _21\"> </span>identificate<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>ella <span class=\"_ _21\"> </span>situazione<span class=\"_ _26a\"> </span>patrimoniale <span class=\"ff5\">\u2013</span> fi<span class=\"_ _1\"></span>nanziaria e nel conto <span class=\"_ _1\"></span>economico conso<span class=\"_ _1\"></span>lidati.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Le imprese controllate <span class=\"_ _3\"></span>sono consolidate col metodo integrale dalla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ata in cui il Gruppo acquisisce il <span class=\"_ _3\"></span>controllo.<span class=\"_ _26a\"> </span>Nelle <span class=\"_ _12\"> </span>aggregazioni <span class=\"_ _27\"> </span>az<span class=\"_ _1\"></span>iendali <span class=\"_ _12\"> </span>realizzata <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>fasi, <span class=\"_ _12\"> </span>con <span class=\"_ _12\"> </span>presenza <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>pregre<span class=\"_ _1\"></span>ssi <span class=\"_ _27\"> </span>legam<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>partecipativi <span class=\"_ _27\"> </span>di<span class=\"_ _26a\"> </span>collegamento, <span class=\"_ _1\"></span>il conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _1\"></span>integrale <span class=\"_ _1\"></span>avviene <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data d<span class=\"_ _1\"></span>i acquis<span class=\"_ _1\"></span>izione <span class=\"_ _1\"></span>del c<span class=\"_ _1\"></span>ontrollo e <span class=\"_ _1\"></span>a m<span class=\"_ _1\"></span>edesima <span class=\"_ _1\"></span>data<span class=\"_ _26a\"> </span>avviene la rimisuraz<span class=\"_ _1\"></span>ione al fair value <span class=\"_ _1\"></span>della partecipazio<span class=\"_ _1\"></span>ne precedentement<span class=\"_ _1\"></span>e detenuta.<span class=\"_ _8\"></span> Si precisa che:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>la societ\u00e0 controllata Valley LLP, partecipata da <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> Usa Inc con una quota <span class=\"_ _3\"></span>pari al 94%, \u00e8 <span class=\"_ _3\"></span>consolidata<span class=\"_ _26a\"> </span></span>al <span class=\"_ _1\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>virt\u00f9<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>all <span class=\"_ _11\"></span>Option <span class=\"_ _1\"></span>Agree<span class=\"_ _1\"></span>ment</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>ola <span class=\"_ _1\"></span>l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>restante <span class=\"_ _8\"></span>6% <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>propr<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>una societ\u00e0 riconduc<span class=\"_ _1\"></span>ibile all\u2019attuale <span class=\"_ _1\"></span><span class=\"ff7\">CEO<span class=\"ff2\"> della c<span class=\"_ _1\"></span>ontrollata;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Markusson <span class=\"_ _1e\"> </span>Professional <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>rinders <span class=\"_ _21\"> </span>AB, <span class=\"_ _1e\"> </span>partecipata <span class=\"_ _21\"> </span>da <span class=\"_ _21\"> </span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _21\"> </span>S.r.l., <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>una <span class=\"_ _21\"> </span>quot<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>51%,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8<span class=\"_ _26a\"> </span></span>consolidata al 100% <span class=\"_ _1\"></span>in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreem<span class=\"_ _1\"></span>ent</span>\u201d che<span class=\"_ _1\"></span> regola l\u2019acquisto <span class=\"_ _1\"></span>del restante 49%;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Agres Sistemas <span class=\"_ _3\"></span>Eletr<span class=\"fs4\">\u00f4</span>nicos<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>S.A., pa<span class=\"_ _3\"></span>rtecipat<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Tecomec S.r.l., <span class=\"_ _3\"></span>con una <span class=\"_ _2\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>pari al<span class=\"_ _3\"></span> 91%, <span class=\"_ _2\"></span>\u00e8 consolidata<span class=\"_ _26a\"> </span></span>al 100% in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreemen<span class=\"_ _1\"></span>t</span>\u201d che regol<span class=\"_ _1\"></span>a l\u2019acquisto del rest<span class=\"_ _1\"></span>ante 9%;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">Poli <span class=\"_ _1\"></span>S.r.<span class=\"_ _1\"></span>l., <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ecipata <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Comet <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u201980%, <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidata <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>virt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>\u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put<span class=\"_ _26a\"> </span></span></span></span>and Call Option A<span class=\"_ _1\"></span>greement<span class=\"ff5\">\u201d<span class=\"_ _1\"></span> che regola l\u2019acquisto d<span class=\"_ _1\"></span>el restante 20%.<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span>2.7 Avviamento<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>erivante <span class=\"_ _3\"></span>dall\u2019acquisto <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>trollate, <span class=\"_ _3\"></span>classificato <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>attivit\u00e0 <span class=\"_ _3\"></span>non <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orrenti, <span class=\"_ _2\"></span>\u00e8 inizialmente <span class=\"_ _2\"></span>rilevato<span class=\"_ _26a\"> </span> al costo <span class=\"_ _3\"></span>rappresentat<span class=\"_ _1\"></span>o dall\u2019eccedenza del corrispettivo corrisposto e <span class=\"_ _3\"></span>dell\u2019importo iscritto per le <span class=\"_ _3\"></span>interessenze di<span class=\"_ _26a\"> </span> minoranza, <span class=\"_ _20\"></span>rilevato <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>acquisizione, <span class=\"_ _20\"></span>rispett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>alle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>ne<span class=\"_ _1\"></span>tte <span class=\"_ _20\"></span>identificabili <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>isite <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span> assunte da<span class=\"_ _1\"></span>l Gruppo.<span class=\"_ _1\"></span> Se <span class=\"_ _1\"></span>il c<span class=\"_ _1\"></span>orrispettivo \u00e8<span class=\"_ _1\"></span> infer<span class=\"_ _1\"></span>iore al <span class=\"_ _8\"></span><span class=\"ff7\">fai<span class=\"_ _1\"></span>r value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit\u00e0 <span class=\"_ _1\"></span>nette <span class=\"_ _1\"></span>della c<span class=\"_ _1\"></span>ontrollata <span class=\"_ _1\"></span>acquisita, <span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span> differenza \u00e8 rilevata ne<span class=\"_ _1\"></span>l conto econom<span class=\"_ _1\"></span>ico.<span class=\"_ _26a\"> </span>L\u2019avviamento \u00e8 considerato dal <span class=\"_ _3\"></span>Gruppo Emak un\u2019attivit\u00e0 a vita <span class=\"_ _3\"></span>utile indefinita. Conseguentemente, tale attivit<span class=\"_ _26a\"> </span>\u00e0<span class=\"_ _26a\"> </span> non <span class=\"_ _8\"></span>viene <span class=\"_ _11\"></span>ammortizzata <span class=\"_ _11\"></span>ma <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>ass<span class=\"_ _1\"></span>oggettata <span class=\"_ _11\"></span>periodicamente <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>verifiche <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>indivi<span class=\"_ _1\"></span>duare <span class=\"_ _8\"></span>ev<span class=\"_ _1\"></span>entuali <span class=\"_ _8\"></span>riduz<span class=\"_ _1\"></span>ioni <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> valore.<span class=\"_ _26a\"> </span> L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>allocato <span class=\"_ _1e\"> </span>alle<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>unit\u00e0 <span class=\"_ _1e\"> </span>operative <span class=\"_ _1e\"> </span>che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>nerano <span class=\"_ _1e\"> </span>flussi <span class=\"_ _1e\"> </span>finanziari <span class=\"_ _1e\"> </span>ide<span class=\"_ _1\"></span>ntificabili <span class=\"_ _1e\"> </span>separatamente <span class=\"_ _1e\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>monitorati al fine di c<span class=\"_ _1\"></span>onsentire la verif<span class=\"_ _1\"></span>ica di eventual<span class=\"_ _1\"></span>i riduzioni di valore.<span class=\"_ _26a\"> </span>L\u2019avviamento relativo a<span class=\"_ _1\"></span> societ\u00e0 collegate <span class=\"_ _1\"></span>\u00e8 incluso nel <span class=\"_ _1\"></span>valore della partec<span class=\"_ _1\"></span>ipazione.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsAndGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-411": {
   "value": "Imprese controllate<span class=\"_ _1\"></span> Il bilanc<span class=\"_ _1\"></span>io co<span class=\"_ _1\"></span>nsolidato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Em<span class=\"_ _1\"></span>ak incl<span class=\"_ _1\"></span>ude <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Emak <span class=\"_ _1\"></span>S.p.A. <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>mprese <span class=\"_ _1\"></span>italiane <span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>traniere<span class=\"_ _26a\"> </span>sulle <span class=\"_ _2\"></span>quali <span class=\"_ _2\"></span>Emak S<span class=\"_ _3\"></span>.p.A. <span class=\"_ _2\"></span>eser<span class=\"_ _1\"></span>cita <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>control<span class=\"_ _1\"></span>lo, <span class=\"_ _2\"></span>direttament<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>o <span class=\"_ _2\"></span>indiretta<span class=\"_ _1\"></span>mente, <span class=\"_ _2\"></span>determ<span class=\"_ _1\"></span>inandone <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>scelte <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie<span class=\"_ _26a\"> </span>e gestionali ed ottene<span class=\"_ _1\"></span>ndone<span class=\"_ _1\"></span> <span class=\"ff5\">i relativi benefici, sec<span class=\"_ _1\"></span>ondo i criteri stabiliti d<span class=\"_ _1\"></span>all\u2019IFRS 10.<span class=\"_ _8\"></span></span> L\u2019acquisizione <span class=\"_ _12\"> </span>delle <span class=\"_ _12\"> </span>imprese <span class=\"_ _12\"> </span>controllate <span class=\"_ _12\"> </span>viene <span class=\"_ _12\"> </span>rilevata <span class=\"_ _12\"> </span>utilizzando <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>metodo <span class=\"_ _12\"> </span>dell\u2019acqu<span class=\"_ _1\"></span>isto <span class=\"_ _27\"> </span>(<span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Acquisition<span class=\"_ _1\"></span> </span>method<span class=\"ff5\">\u201d), <span class=\"_ _1\"></span>f<span class=\"_ _1\"></span>atta <span class=\"_ _1\"></span>eccezio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizioni <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>alizzate <span class=\"_ _8\"></span>nell\u2019esercizio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>011 <span class=\"_ _1\"></span>con<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>c<span class=\"_ _8\"></span><span class=\"ff2\">ontrollante <span class=\"_ _8\"></span>Yama <span class=\"_ _1\"></span>S.<span class=\"_ _1\"></span>p.A. <span class=\"_ _1\"></span>Il<span class=\"_ _26a\"> </span></span></span>costo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizio<span class=\"_ _1\"></span>ne <span class=\"_ _8\"></span>corrisponde <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>nizialmente <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fair <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>alue</span> <span class=\"_ _8\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>attivit\u00e0 <span class=\"_ _8\"></span>acquistat<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>degli <span class=\"_ _8\"></span>strument<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>finanziari<span class=\"_ _26a\"> </span>emessi <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _20\"></span>in<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>essere <span class=\"_ _23\"></span>alla <span class=\"_ _20\"></span>data <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _20\"></span>senza <span class=\"_ _23\"></span>considerare <span class=\"_ _23\"></span>gli <span class=\"_ _20\"></span>interessi <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>minoranza.<span class=\"_ _1\"></span> L\u2019ecce<span class=\"ff2\">denza <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>costo <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>acquisizione <span class=\"_ _20\"></span>rispetto <span class=\"_ _20\"></span>al <span class=\"_ _23\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>identificabi<span class=\"_ _1\"></span>li <span class=\"_ _11\"></span>nette <span class=\"_ _20\"></span>acquisite, <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la<span class=\"_ _26a\"> </span></span>quota di pertinenza d<span class=\"_ _1\"></span>el Gruppo, \u00e8 rilevat<span class=\"_ _1\"></span>a come avviamento.<span class=\"_ _8\"></span> Se <span class=\"_ _2\"></span>il <span class=\"_ _3\"></span>costo <span class=\"_ _2\"></span>di <span class=\"_ _3\"></span>acquisizione <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>minore, <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>differenza <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>levata <span class=\"_ _3\"></span>direttamente <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>conto <span class=\"_ _3\"></span>ec<span class=\"_ _1\"></span>onomico <span class=\"_ _3\"></span>(Nota <span class=\"_ _3\"></span>2.7). <span class=\"_ _2\"></span>I <span class=\"_ _3\"></span>bilanci<span class=\"_ _26a\"> </span>delle <span class=\"_ _1\"></span>imprese <span class=\"_ _1\"></span>contro<span class=\"_ _1\"></span>llate <span class=\"_ _1\"></span>sono <span class=\"_ _1\"></span>inclus<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _8\"></span>a partire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data <span class=\"_ _8\"></span>in c<span class=\"_ _1\"></span>ui <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>assume <span class=\"_ _8\"></span>il contr<span class=\"_ _1\"></span>ollo<span class=\"_ _26a\"> </span>fino al moment<span class=\"_ _1\"></span>o in cui t<span class=\"_ _1\"></span>ale controllo<span class=\"_ _1\"></span> cessa di es<span class=\"_ _1\"></span>istere. Le <span class=\"_ _1\"></span>interessenze di<span class=\"_ _1\"></span> pertinenza di<span class=\"_ _1\"></span> terzi e <span class=\"_ _1\"></span>la quota d<span class=\"_ _1\"></span>i u<span class=\"_ _8\"></span>tile<span class=\"_ _26a\"> </span>o <span class=\"_ _23\"> </span>perdit<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>esercizio<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle <span class=\"_ _21\"> </span>controllate <span class=\"_ _21\"> </span>attribuib<span class=\"_ _1\"></span>ili <span class=\"_ _23\"> </span>ai <span class=\"_ _21\"> </span>terz<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>sono <span class=\"_ _21\"> </span>identificate<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>sep<span class=\"_ _1\"></span>aratamente <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>ella <span class=\"_ _21\"> </span>situazione<span class=\"_ _26a\"> </span>patrimoniale <span class=\"ff5\">\u2013</span> fi<span class=\"_ _1\"></span>nanziaria e nel conto <span class=\"_ _1\"></span>economico conso<span class=\"_ _1\"></span>lidati.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Le imprese controllate <span class=\"_ _3\"></span>sono consolidate col metodo integrale dalla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ata in cui il Gruppo acquisisce il <span class=\"_ _3\"></span>controllo.<span class=\"_ _26a\"> </span>Nelle <span class=\"_ _12\"> </span>aggregazioni <span class=\"_ _27\"> </span>az<span class=\"_ _1\"></span>iendali <span class=\"_ _12\"> </span>realizzata <span class=\"_ _12\"> </span>in <span class=\"_ _27\"> </span>pi\u00f9 <span class=\"_ _12\"> </span>fasi, <span class=\"_ _12\"> </span>con <span class=\"_ _12\"> </span>presenza <span class=\"_ _27\"> </span>di <span class=\"_ _12\"> </span>pregre<span class=\"_ _1\"></span>ssi <span class=\"_ _27\"> </span>legam<span class=\"_ _1\"></span>i <span class=\"_ _12\"> </span>partecipativi <span class=\"_ _27\"> </span>di<span class=\"_ _26a\"> </span>collegamento, <span class=\"_ _1\"></span>il conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _1\"></span>integrale <span class=\"_ _1\"></span>avviene <span class=\"_ _1\"></span>dalla <span class=\"_ _1\"></span>data d<span class=\"_ _1\"></span>i acquis<span class=\"_ _1\"></span>izione <span class=\"_ _1\"></span>del c<span class=\"_ _1\"></span>ontrollo e <span class=\"_ _1\"></span>a m<span class=\"_ _1\"></span>edesima <span class=\"_ _1\"></span>data<span class=\"_ _26a\"> </span>avviene la rimisuraz<span class=\"_ _1\"></span>ione al fair value <span class=\"_ _1\"></span>della partecipazio<span class=\"_ _1\"></span>ne precedentement<span class=\"_ _1\"></span>e detenuta.<span class=\"_ _8\"></span> Si precisa che:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>la societ\u00e0 controllata Valley LLP, partecipata da <span class=\"_ _3\"></span>Comet<span class=\"_ _1\"></span> Usa Inc con una quota <span class=\"_ _3\"></span>pari al 94%, \u00e8 <span class=\"_ _3\"></span>consolidata<span class=\"_ _26a\"> </span></span>al <span class=\"_ _1\"></span>100% <span class=\"_ _8\"></span>in <span class=\"_ _1\"></span>virt\u00f9<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>\u201c<span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>C<span class=\"_ _1\"></span>all <span class=\"_ _11\"></span>Option <span class=\"_ _1\"></span>Agree<span class=\"_ _1\"></span>ment</span>\u201d <span class=\"_ _8\"></span>che <span class=\"_ _1\"></span>reg<span class=\"_ _1\"></span>ola <span class=\"_ _1\"></span>l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>restante <span class=\"_ _8\"></span>6% <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>propr<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>una societ\u00e0 riconduc<span class=\"_ _1\"></span>ibile all\u2019attuale <span class=\"_ _1\"></span><span class=\"ff7\">CEO<span class=\"ff2\"> della c<span class=\"_ _1\"></span>ontrollata;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Markusson <span class=\"_ _1e\"> </span>Professional <span class=\"_ _21\"> </span>G<span class=\"_ _1\"></span>rinders <span class=\"_ _21\"> </span>AB, <span class=\"_ _1e\"> </span>partecipata <span class=\"_ _21\"> </span>da <span class=\"_ _21\"> </span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _21\"> </span>S.r.l., <span class=\"_ _21\"> </span>con<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>una <span class=\"_ _21\"> </span>quot<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _21\"> </span>al <span class=\"_ _21\"> </span>51%,<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>\u00e8<span class=\"_ _26a\"> </span></span>consolidata al 100% <span class=\"_ _1\"></span>in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreem<span class=\"_ _1\"></span>ent</span>\u201d che<span class=\"_ _1\"></span> regola l\u2019acquisto <span class=\"_ _1\"></span>del restante 49%;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>Agres Sistemas <span class=\"_ _3\"></span>Eletr<span class=\"fs4\">\u00f4</span>nicos<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>S.A., pa<span class=\"_ _3\"></span>rtecipat<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Tecomec S.r.l., <span class=\"_ _3\"></span>con una <span class=\"_ _2\"></span>quot<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>pari al<span class=\"_ _3\"></span> 91%, <span class=\"_ _2\"></span>\u00e8 consolidata<span class=\"_ _26a\"> </span></span>al 100% in virt\u00f9 del \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put and Ca<span class=\"_ _1\"></span>ll Option Agreemen<span class=\"_ _1\"></span>t</span>\u201d che regol<span class=\"_ _1\"></span>a l\u2019acquisto del rest<span class=\"_ _1\"></span>ante 9%;<span class=\"_ _1\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">Poli <span class=\"_ _1\"></span>S.r.<span class=\"_ _1\"></span>l., <span class=\"_ _1\"></span>part<span class=\"_ _1\"></span>ecipata <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Comet <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _8\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ell\u201980%, <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidata <span class=\"_ _1\"></span>al <span class=\"_ _8\"></span>100% <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>virt\u00f9 <span class=\"_ _8\"></span>del <span class=\"_ _1\"></span>\u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put<span class=\"_ _26a\"> </span></span></span></span>and Call Option A<span class=\"_ _1\"></span>greement<span class=\"ff5\">\u201d<span class=\"_ _1\"></span> che regola l\u2019acquisto d<span class=\"_ _1\"></span>el restante 20%.<span class=\"_ _1\"></span><span class=\"ff2\"> </span></span>Transazioni infragrupp<span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> Le <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>ansazioni, i <span class=\"_ _2\"></span>sal<span class=\"_ _1\"></span>di <span class=\"_ _3\"></span>e gli <span class=\"_ _2\"></span>utili non <span class=\"_ _3\"></span>realizzati <span class=\"_ _3\"></span>in operazioni <span class=\"_ _3\"></span>tra societ\u00e0 <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>Gruppo sono <span class=\"_ _3\"></span>eliminati. Le <span class=\"_ _2\"></span>perdite<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>non<span class=\"_ _26a\"> </span>realizzate sono eliminate <span class=\"_ _3\"></span>allo stesso modo, a <span class=\"_ _2\"></span>me<span class=\"_ _1\"></span>no che <span class=\"_ _3\"></span>l\u2019opera<span class=\"_ _8\"></span>zione evidenzi una perdi<span class=\"_ _3\"></span>ta di valore dell\u2019attivit\u00e0<span class=\"_ _26a\"> </span>trasferita. <span class=\"_ _3\"></span>I <span class=\"_ _3\"></span>bilanci delle <span class=\"_ _3\"></span>imprese <span class=\"_ _3\"></span>incluse nell\u2019area <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>consolidam<span class=\"_ _1\"></span>ento <span class=\"_ _3\"></span>sono stati <span class=\"_ _2\"></span>opp<span class=\"_ _1\"></span>ortunamente modificati, <span class=\"_ _3\"></span>ove<span class=\"_ _26a\"> </span>necessario, per uniformar<span class=\"_ _1\"></span>li ai principi co<span class=\"_ _1\"></span>ntabili adottati <span class=\"_ _1\"></span>dal Gruppo.<span class=\"_ _1\"></span> Imprese collegate <span class=\"_ _1\"></span> Le <span class=\"_ _8\"></span>imprese <span class=\"_ _8\"></span>collegate <span class=\"_ _8\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>le <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cui <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>Gruppo <span class=\"_ _11\"></span>esercita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019influenza <span class=\"_ _8\"></span>notev<span class=\"_ _1\"></span>ole <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os\u00ec <span class=\"_ _8\"></span>come <span class=\"_ _8\"></span>definita <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>llo<span class=\"_ _26a\"> </span>IAS 28 <span class=\"ff5\">\u2013</span> <span class=\"_ _3\"></span><span class=\"ff7\">Partecipaz<span class=\"_ _1\"></span>ioni in collegate e j<span class=\"_ _3\"></span>oint venture<span class=\"_ _1\"></span><span class=\"ff2 ls5\">, ma non il controllo, sulle politiche finanziari<span class=\"_ _1\"></span>e ed operative.<span class=\"_ _26a\"> </span></span></span>Le <span class=\"_ _11\"></span>partecipazioni <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>societ<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _11\"></span>col<span class=\"_ _1\"></span>legate <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>contabiliz<span class=\"_ _1\"></span>zate <span class=\"_ _11\"></span>con <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>metodo <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>patrimonio <span class=\"_ _11\"></span>netto <span class=\"_ _11\"></span>a <span class=\"_ _11\"></span>partire <span class=\"_ _11\"></span>dal<span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span>data in cui inizia l\u2019inf<span class=\"_ _1\"></span>luenza notevole fin<span class=\"_ _1\"></span>o al momento in c<span class=\"_ _1\"></span>ui la stessa cessa d<span class=\"_ _1\"></span>i esistere.<span class=\"_ _26a\"> </span><span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.7 Avviamento<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>erivante <span class=\"_ _3\"></span>dall\u2019acquisto <span class=\"_ _3\"></span>di <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>trollate, <span class=\"_ _3\"></span>classificato <span class=\"_ _2\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>le <span class=\"_ _3\"></span>attivit\u00e0 <span class=\"_ _3\"></span>non <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>orrenti, <span class=\"_ _2\"></span>\u00e8 inizialmente <span class=\"_ _2\"></span>rilevato<span class=\"_ _26a\"> </span>al costo <span class=\"_ _3\"></span>rappresentat<span class=\"_ _1\"></span>o dall\u2019eccedenza del corrispettivo corrisposto e <span class=\"_ _3\"></span>dell\u2019importo iscritto per le <span class=\"_ _3\"></span>interessenze di<span class=\"_ _26a\"> </span>minoranza, <span class=\"_ _20\"></span>rilevato <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>acquisizione, <span class=\"_ _20\"></span>rispett<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>alle <span class=\"_ _20\"></span>attivit\u00e0 <span class=\"_ _20\"></span>ne<span class=\"_ _1\"></span>tte <span class=\"_ _20\"></span>identificabili <span class=\"_ _20\"></span>acqu<span class=\"_ _1\"></span>isite <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _26a\"> </span>assunte da<span class=\"_ _1\"></span>l Gruppo.<span class=\"_ _1\"></span> Se <span class=\"_ _1\"></span>il c<span class=\"_ _1\"></span>orrispettivo \u00e8<span class=\"_ _1\"></span> infer<span class=\"_ _1\"></span>iore al <span class=\"_ _8\"></span><span class=\"ff7\">fai<span class=\"_ _1\"></span>r value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit\u00e0 <span class=\"_ _1\"></span>nette <span class=\"_ _1\"></span>della c<span class=\"_ _1\"></span>ontrollata <span class=\"_ _1\"></span>acquisita, <span class=\"_ _1\"></span>la<span class=\"_ _26a\"> </span>differenza \u00e8 rilevata ne<span class=\"_ _1\"></span>l conto econom<span class=\"_ _1\"></span>ico.<span class=\"_ _26a\"> </span>L\u2019avviamento \u00e8 considerato dal <span class=\"_ _3\"></span>Gruppo Emak un\u2019attivit\u00e0 a vita <span class=\"_ _3\"></span>utile indefinita. Conseguentemente, tale attivit<span class=\"_ _26a\"> </span>non <span class=\"_ _8\"></span>viene <span class=\"_ _11\"></span>ammortizzata <span class=\"_ _11\"></span>ma <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>ass<span class=\"_ _1\"></span>oggettata <span class=\"_ _11\"></span>periodicamente <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>verifiche <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>indivi<span class=\"_ _1\"></span>duare <span class=\"_ _8\"></span>ev<span class=\"_ _1\"></span>entuali <span class=\"_ _8\"></span>riduz<span class=\"_ _1\"></span>ioni <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>valore.<span class=\"_ _26a\"> </span>L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>allocato <span class=\"_ _1e\"> </span>alle<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _1e\"> </span>unit\u00e0 <span class=\"_ _1e\"> </span>operative <span class=\"_ _1e\"> </span>che <span class=\"_ _1e\"> </span>ge<span class=\"_ _1\"></span>nerano <span class=\"_ _1e\"> </span>flussi <span class=\"_ _1e\"> </span>finanziari <span class=\"_ _1e\"> </span>ide<span class=\"_ _1\"></span>ntificabili <span class=\"_ _1e\"> </span>separatamente <span class=\"_ _1e\"> </span></span>monitorati al fine di c<span class=\"_ _1\"></span>onsentire la verif<span class=\"_ _1\"></span>ica di eventual<span class=\"_ _1\"></span>i riduzioni di valore.<span class=\"_ _26a\"> </span> <span class=\"_ _8\"></span> L\u2019avviamento relativo a<span class=\"_ _1\"></span> societ\u00e0 collegate <span class=\"_ _1\"></span>\u00e8 incluso nel <span class=\"_ _1\"></span>valore della partec<span class=\"_ _1\"></span>ipazione.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>2.12 Partecipazion<span class=\"_ _1\"></span>i in societ\u00e0 coll<span class=\"_ _1\"></span>egate  Una <span class=\"_ _11\"></span>collegata <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _20\"></span>una <span class=\"_ _11\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _11\"></span>sulla <span class=\"_ _20\"></span>quale <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>eserc<span class=\"_ _1\"></span>ita <span class=\"_ _11\"></span>un\u2019influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole. <span class=\"_ _20\"></span>Per <span class=\"_ _11\"></span>influenza <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>otevole <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span> intende <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>potere <span class=\"_ _23\"></span>di <span class=\"_ _11\"></span>partec<span class=\"_ _1\"></span>ipare <span class=\"_ _20\"></span>alla <span class=\"_ _20\"></span>deter<span class=\"_ _1\"></span>minazione <span class=\"_ _20\"></span>delle <span class=\"_ _20\"></span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _20\"></span>finanziarie <span class=\"_ _20\"></span>e <span class=\"_ _23\"></span>gestionali <span class=\"_ _20\"></span>della <span class=\"_ _20\"></span>partecip<span class=\"_ _1\"></span>ata<span class=\"_ _26a\"> </span> senza averne il co<span class=\"_ _1\"></span>ntrollo o il contro<span class=\"_ _1\"></span>llo congiunto.<span class=\"_ _1\"></span> Le <span class=\"_ _20\"></span>partecipazioni <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _20\"></span>collegate <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>valut<span class=\"_ _1\"></span>ate <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>metodo <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>patrim<span class=\"_ _1\"></span>onio <span class=\"_ _20\"></span>netto. <span class=\"_ _20\"></span>Con <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span> metodo <span class=\"_ _3\"></span>del <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>atrimonio <span class=\"_ _3\"></span>netto, <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>partecipazione i<span class=\"_ _3\"></span>n <span class=\"_ _3\"></span>una <span class=\"_ _3\"></span>societ\u00e0 <span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>ollegata \u00e8 <span class=\"_ _2\"></span>inizialmente <span class=\"_ _3\"></span>rilevata <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>costo. <span class=\"_ _3\"></span>Il <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore<span class=\"_ _8\"></span> contabile <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipaz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>aumentato <span class=\"_ _8\"></span>o <span class=\"_ _11\"></span>diminuito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>rilevare <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>pertine<span class=\"_ _1\"></span>nza <span class=\"_ _8\"></span>della <span class=\"_ _8\"></span>partecipa<span class=\"_ _1\"></span>nte<span class=\"_ _26a\"> </span> degli <span class=\"_ _8\"></span>utili <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>perdite <span class=\"_ _8\"></span>della <span class=\"_ _11\"></span>partecipata <span class=\"_ _8\"></span>rea<span class=\"_ _1\"></span>lizzati <span class=\"_ _8\"></span>do<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>la <span class=\"_ _11\"></span>data <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acqu<span class=\"_ _1\"></span>isizione, <span class=\"_ _11\"></span>tenendo <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>cons<span class=\"_ _1\"></span>iderazione<span class=\"_ _1\"></span> l\u2019eventuale effetto de<span class=\"_ _1\"></span>ll\u2019elimina<span class=\"_ _1\"></span><span class=\"ff2\">zione di margini in<span class=\"_ _1\"></span>fragruppo non real<span class=\"_ _1\"></span>izzati.<span class=\"_ _1\"></span> </span>Il conto economico rif<span class=\"_ _1\"></span>lette la quota <span class=\"_ _1\"></span>di pertinenza del G<span class=\"_ _1\"></span>ruppo del risultato d<span class=\"_ _1\"></span>\u2019esercizio della societ\u00e0 co<span class=\"_ _1\"></span>llegata. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>La <span class=\"_ _2\"></span>quota <span class=\"_ _3\"></span>aggregata <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>perti<span class=\"_ _1\"></span>nenza <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>isultato <span class=\"_ _2\"></span>d\u2019<span class=\"_ _1\"></span>esercizio <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>lle <span class=\"_ _2\"></span>societ\u00e0 <span class=\"_ _3\"></span>collegate <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>r<span class=\"_ _11\"></span><span class=\"ff2\">ilevata <span class=\"_ _2\"></span>nel <span class=\"_ _2\"></span>co<span class=\"_ _1\"></span>nto<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>economico <span class=\"_ _23\"> </span>e <span class=\"_ _23\"> </span>rappresent<span class=\"_ _1\"></span>a <span class=\"_ _23\"></span>il <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>al <span class=\"_ _23\"> </span>netto <span class=\"_ _23\"> </span>delle <span class=\"_ _23\"> </span>impos<span class=\"_ _1\"></span>te <span class=\"_ _23\"></span>e <span class=\"_ _23\"></span>delle <span class=\"_ _23\"></span>quote <span class=\"_ _23\"> </span>spetta<span class=\"_ _1\"></span>nti <span class=\"_ _23\"></span>agli <span class=\"_ _23\"></span>altri <span class=\"_ _23\"> </span>azionisti <span class=\"_ _23\"> </span>della<span class=\"_ _26a\"> </span> collegata.<span class=\"_ _26a\"> </span> Il <span class=\"_ _20\"></span>bi<span class=\"_ _1\"></span>lancio <span class=\"_ _23\"></span>delle <span class=\"_ _20\"></span>societ\u00e0<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>c<span class=\"_ _1\"></span>ollegate <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>predisposto<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lla <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>tessa <span class=\"_ _23\"></span>data <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>chiusura<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>bilanc<span class=\"_ _1\"></span>io <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _20\"></span>G<span class=\"_ _1\"></span>ruppo. <span class=\"_ _20\"></span>Ov<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span> necessario, il bila<span class=\"_ _1\"></span>ncio \u00e8 rettificato per un<span class=\"_ _1\"></span>iformarlo ai pri<span class=\"_ _1\"></span>ncipi contabili di Gru<span class=\"_ _1\"></span>ppo.<span class=\"_ _1\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-425": {
   "value": "L\u2019acquisizione  delle  imprese  controllate  viene  rilevata  utilizzando  il  metodo  dell\u2019acquisto  (\u201cAcquisition method\u201d), fatta eccezione per le acquisizioni realizzate nell\u2019esercizio 2011 con la controllante Yama S.p.A. Il costo di acquisizione corrisponde inizialmente al fair value delle attivit\u00e0 acquistate, degli strumenti finanziari emessi e delle passivit\u00e0 in essere alla data di acquisizione, senza considerare gli interessi di minoranza. L\u2019eccedenza del costo di acquisizione rispetto al fair value delle attivit\u00e0 identificabili nette acquisite, per la quota di pertinenza del Gruppo, \u00e8 rilevata come avviamento. Se il costo di acquisizione \u00e8 minore, la differenza \u00e8 rilevata direttamente a conto economico (Nota 2.7). I bilanci delle imprese controllate sono inclusi nel bilancio consolidato a partire dalla data in cui si assume il controllo fino al momento in cui tale controllo cessa di esistere. Le interessenze di pertinenza di terzi e la quota di utile o  perdita  di  esercizio  delle  controllate  attribuibili  ai  terzi  sono  identificate  separatamente  nella  situazione patrimoniale \u2013 finanziaria e nel conto economico consolidati. 2.7 Avviamento L\u2019avviamento derivante dall\u2019acquisto di controllate, classificato tra le attivit\u00e0 non correnti, \u00e8 inizialmente rilevato al costo rappresentato dall\u2019eccedenza del corrispettivo corrisposto e dell\u2019importo iscritto per le interessenze di minoranza, rilevato alla data di acquisizione, rispetto alle attivit\u00e0 nette identificabili acquisite e le passivit\u00e0 assunte dal Gruppo. Se il corrispettivo \u00e8 inferiore al fair value delle attivit\u00e0 nette della controllata acquisita, la differenza \u00e8 rilevata nel conto economico. L\u2019avviamento \u00e8 considerato dal Gruppo Emak un\u2019attivit\u00e0 a vita utile indefinita. Conseguentemente, tale attivit non viene ammortizzata ma \u00e8 assoggettata periodicamente a verifiche per individuare eventuali riduzioni di valore. L\u2019avviamento  \u00e8  allocato  alle  unit\u00e0  operative  che  generano  flussi  finanziari  identificabili  separatamente  monitorati al fine di consentire la verifica di eventuali riduzioni di valore.   L\u2019avviamento relativo a societ\u00e0 collegate \u00e8 incluso nel valore della partecipazione. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-442": {
   "value": "Le interessenze di pertinenza di terzi e la quota di utile o  perdita  di  esercizio  delle  controllate  attribuibili  ai  terzi  sono  identificate  separatamente  nella  situazione  patrimoniale \u2013 finanziaria e nel conto economico consolidati. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-356": {
   "value": "2.3 Differenze di traduzione Valuta funzionale e valuta di presentazione Gli elementi inclusi nel bilancio di ciascuna impresa del Gruppo sono rilevati utilizzando la valuta dell\u2019ambiente economico principale in cui l\u2019impresa opera (valuta funzionale). Il bilancio consolidato \u00e8 presentato in Euro, valuta funzionale e di presentazione della Capogruppo. Operazioni e saldi Le operazioni in valuta estera sono convertite utilizzando i tassi di cambio alle date delle rispettive operazioni. Gli utili e le perdite su cambi derivanti dagli incassi e dai pagamenti in valuta estera e dalla conversione ai cambi di chiusura dell\u2019esercizio delle attivit\u00e0 e passivit\u00e0 monetarie denominate in valuta estera sono imputati al conto economico.  Vengono differiti  nel conto  economico  complessivo gli utili e le perdite realizzate su strumenti per la copertura dei flussi per i quali non si \u00e8 ancora realizzata la transazione oggetto di copertura. Consolidamento di bilanci di societ\u00e0 estere I bilanci di tutte le imprese del Gruppo sono predisposti secondo i principi contabili IAS/IFRS per uniformarli ai principi contabili di Emak S.p.A. I bilanci con valuta funzionale diversa dalla valuta di presentazione del bilancio consolidato sono convertiti come segue: (i)  le attivit\u00e0 e le passivit\u00e0 sono convertite al cambio alla data di chiusura dell\u2019esercizio; (ii)  i ricavi e i costi sono convertiti al cambio medio dell\u2019esercizio; (iii)  tutte  le  differenze  di  traduzione  sono  rilevate  come  specifica  riserva  di patrimonio  netto  (\u201criserva  per differenze di conversione\u201d). I principali tassi di cambio utilizzati per la conversione in Euro dei bilanci espressi in valute estere sono i seguenti: Ammontare di valuta estera per 1 Euro Medio 2022 31.12.2022 Medio 2021 31.12.2021 Sterlina (Inghilterra) 0,85 0,89 0,86 0,84 Renminbi (Cina) 7,08 7,36 7,63 7,19 Dollari (Usa) 1,05 1,07 1,18 1,13 Zloty (Polonia) 4,69 4,68 4,57 4,60 Zar (Sud Africa) 17,21 18,10 17,48 18,06 Uah (Ucraina) 34,02 39,04 32,26 30,92 Real (Brasile) 5,44 5,64 6,38 6,31 Dirham (Marocco) 10,68 11,16 10,63 10,48 Peso Messicano (Messico) 21,19 20,86 23,99 23,14 Peso Cileno (Cile) 917,83 913,82 898,39 964,35 Corona Svedese (Svezia) 10,63 11,12 10,15 10,25 ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-412": {
   "value": "2.3 Differenze di traduzione Valuta funzionale e valuta di presentazione Gli elementi inclusi nel bilancio di ciascuna impresa del Gruppo sono rilevati utilizzando la valuta dell\u2019ambiente economico principale in cui l\u2019impresa opera (valuta funzionale). Il bilancio consolidato \u00e8 presentato in Euro, valuta funzionale e di presentazione della Capogruppo. Operazioni e saldi Le operazioni in valuta estera sono convertite utilizzando i tassi di cambio alle date delle rispettive operazioni. Gli utili e le perdite su cambi derivanti dagli incassi e dai pagamenti in valuta estera e dalla conversione ai cambi di chiusura dell\u2019esercizio delle attivit\u00e0 e passivit\u00e0 monetarie denominate in valuta estera sono imputati al conto economico.  Vengono differiti  nel conto  economico  complessivo gli utili e le perdite realizzate su strumenti per la copertura dei flussi per i quali non si \u00e8 ancora realizzata la transazione oggetto di copertura. Consolidamento di bilanci di societ\u00e0 estere I bilanci di tutte le imprese del Gruppo sono predisposti secondo i principi contabili IAS/IFRS per uniformarli ai principi contabili di Emak S.p.A. I bilanci con valuta funzionale diversa dalla valuta di presentazione del bilancio consolidato sono convertiti come segue: (i)  le attivit\u00e0 e le passivit\u00e0 sono convertite al cambio alla data di chiusura dell\u2019esercizio; (ii)  i ricavi e i costi sono convertiti al cambio medio dell\u2019esercizio; (iii)  tutte  le  differenze  di  traduzione  sono  rilevate  come  specifica  riserva  di patrimonio  netto  (\u201criserva  per differenze di conversione\u201d). I principali tassi di cambio utilizzati per la conversione in Euro dei bilanci espressi in valute estere sono i seguenti: Ammontare di valuta estera per 1 Euro Medio 2022 31.12.2022 Medio 2021 31.12.2021 Sterlina (Inghilterra) 0,85 0,89 0,86 0,84 Renminbi (Cina) 7,08 7,36 7,63 7,19 Dollari (Usa) 1,05 1,07 1,18 1,13 Zloty (Polonia) 4,69 4,68 4,57 4,60 Zar (Sud Africa) 17,21 18,10 17,48 18,06 Uah (Ucraina) 34,02 39,04 32,26 30,92 Real (Brasile) 5,44 5,64 6,38 6,31 Dirham (Marocco) 10,68 11,16 10,63 10,48 Peso Messicano (Messico) 21,19 20,86 23,99 23,14 Peso Cileno (Cile) 917,83 913,82 898,39 964,35 Corona Svedese (Svezia) 10,63 11,12 10,15 10,25 ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-357": {
   "value": "2.4 Immobilizzazioni materiali I terreni e fabbricati sono costituiti essenzialmente da stabilimenti produttivi, magazzini e uffici e sono esposti in bilancio al costo storico, incrementato delle rivalutazioni legali effettuate negli anni precedenti la prima applicazione  dei  principi  contabili  IAS/IFRS,  al  netto  dell'ammortamento  per  i  fabbricati.  Le  altre immobilizzazioni  materiali  sono  contabilizzate  al  costo  storico  al  netto  dell'ammortamento  e  delle  perdite durevoli di valore. Il costo storico comprende tutte le spese direttamente attribuibili all\u2019acquisto dei beni. I  costi  incrementativi  sostenuti  sono  inclusi  nel  valore  contabile  dell\u2019attivit\u00e0  o  contabilizzati  come  attivit\u00e0 separata, solo quando \u00e8 probabile che da essi deriveranno futuri benefici economici e tali costi possono essere valutati  attendibilmente.  I  costi  delle  altre  riparazioni  e  manutenzioni  sono  imputati  al  conto  economico nell\u2019esercizio nel quale sono sostenuti. I terreni non sono ammortizzati. L\u2019ammortamento delle altre attivit\u00e0 \u00e8 calcolato a quote costanti sul periodo di vita utile stimata generalmente come segue: \u2022 fabbricati, 33 anni; \u2022 costruzioni leggere, 10 anni; \u2022 impianti e macchinari, 6-10 anni; \u2022 stampi per la produzione, 4-6 anni; \u2022 altri, 4-8 anni. Il valore residuo e la vita utile delle attivit\u00e0 sono rivisti e modificati, se necessario, al termine di ogni esercizio. Il valore  contabile  di  un\u2019attivit\u00e0  \u00e8  immediatamente  ridotto  al  valore  di  realizzo se il valore contabile risulta maggiore del valore recuperabile stimato. I contributi pubblici ottenuti a fronte di investimenti in fabbricati e impianti sono rilevati nel conto economico lungo il periodo necessario per correlarli con i relativi piani di ammortamento e sono trattati come proventi differiti.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-413": {
   "value": "I terreni non sono ammortizzati. L\u2019ammortamento delle altre attivit\u00e0 \u00e8 calcolato a quote costanti sul periodo di vita utile stimata generalmente come segue: \u2022 fabbricati, 33 anni; \u2022 costruzioni leggere, 10 anni; \u2022 impianti e macchinari, 6-10 anni; \u2022 stampi per la produzione, 4-6 anni; \u2022 altri, 4-8 anni. L\u2019ammortamento dei costi di sviluppo, classificati nella voce \u201cCosti di sviluppo\u201d, decorre dal momento in cui la fase di sviluppo si \u00e8 conclusa e l\u2019attivit\u00e0 sottostante inizia a generare benefici economici. Nel  periodo  in  cui  sono  sostenuti  costi  interni  di  sviluppo  capitalizzabili,  gli  stessi  sono  sospesi  a  Conto economico a riduzione delle voci di costo interessate e classificati tra le immobilizzazioni immateriali. I costi di sviluppo capitalizzati sono ammortizzati in base ad una stima del periodo in cui ci si attende che le attivit\u00e0 in oggetto generino flussi di cassa e comunque per periodi non superiori a 5 anni a partire dall\u2019inizio della produzione dei prodotti oggetto dell\u2019attivit\u00e0 di sviluppo. Tutti gli altri costi di sviluppo, che non presentano i requisiti per essere capitalizzati, sono rilevati a conto  Le altre attivit\u00e0 immateriali sono ammortizzate sistematicamente lungo il periodo della stimata vita utile e comunque per una durata che varia da 5 anni a 15 anni. L\u2019ammortamento \u00e8 calcolato con il metodo a quote costanti per ripartire il loro valore sulla vita utile stimata e comunque per una durata  non superiore ai 10 anni.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDepreciationExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-358": {
   "value": "2.5 Immobilizzazioni immateriali (a) Costi di sviluppo Si tratta di immobilizzazioni immateriali a vita definita. I costi di sviluppo per progetti di nuovi prodotti sono iscritti all\u2019attivo solo se sono rispettate le seguenti condizioni:  \u2022 i costi possono essere determinati in modo attendibile; \u2022 la fattibilit\u00e0 tecnica del prodotto, i volumi e i prezzi attesi indicano che i costi sostenuti nella fase di sviluppo  genereranno benefici economici futuri. Un\u2019attivit\u00e0 immateriale, generata  nella fase di sviluppo  di  un progetto interno,  \u00e8 iscritta come attivit\u00e0 se la  Societ\u00e0 \u00e8 in grado di dimostrare: \u2022 la possibilit\u00e0  tecnica  di  completare  l\u2019attivit\u00e0  immateriale,  in modo  che  sia  disponibile  all\u2019utilizzo  o alla  vendita;  \u2022 l\u2019intenzione di completare l\u2019attivit\u00e0 e la propria capacit\u00e0 di utilizzarla o venderla; \u2022 le modalit\u00e0 con cui l\u2019attivit\u00e0 generer\u00e0 benefici economici futuri; \u2022 la disponibilit\u00e0 di risorse per completare l\u2019attivit\u00e0; \u2022 la disponibilit\u00e0 di adeguate risorse tecniche, finanziarie e di altro tipo per completare lo sviluppo e di  utilizzare o rivendere l\u2019attivit\u00e0; \u2022 la capacit\u00e0 di valutare in modo attendibile il costo attribuibile all\u2019attivit\u00e0 durante lo sviluppo; \u2022 la capacit\u00e0 di utilizzare l\u2019attivit\u00e0 immateriale generata. L\u2019ammortamento dei costi di sviluppo, classificati nella voce \u201cCosti di sviluppo\u201d, decorre dal momento in cui la  fase di sviluppo si \u00e8 conclusa e l\u2019attivit\u00e0 sottostante inizia a generare benefici economici. Nel  periodo  in  cui  sono  sostenuti  costi  interni  di  sviluppo  capitalizzabili,  gli  stessi  sono  sospesi  a  Conto  economico a riduzione delle voci di costo interessate e classificati tra le immobilizzazioni immateriali. I costi di sviluppo capitalizzati sono ammortizzati in base ad una stima del periodo in cui ci si attende che le attivit\u00e0 in oggetto generino flussi di cassa e comunque per periodi non superiori a 5 anni a partire dall\u2019inizio  della produzione dei prodotti oggetto dell\u2019attivit\u00e0 di sviluppo. Tutti gli altri costi di sviluppo, che non presentano i requisiti per essere capitalizzati, sono rilevati a conto  economico quando sostenuti. I contributi pubblici ottenuti a fronte di investimenti in costi di sviluppo sono rilevati nel conto economico lungo  il periodo necessario per correlarli con i relativi piani di ammortamento e sono trattati come proventi differiti. (b) Concessioni licenze e march i I marchi e le licenze sono valutati al costo storico, ad eccezione dei marchi acquisiti attraverso le operazioni di Business Combination che sono rilevati inizialmente loro fair value. I marchi e le licenze hanno una vita utile definita e sono valutati al costo al netto dell\u2019ammortamento accumulato. L\u2019ammortamento \u00e8 calcolato con il metodo a quote costanti per ripartire il loro valore sulla vita utile stimata e comunque per una durata  non superiore ai 10 anni.  (c) Altre attivit\u00e0 immateriali Le altre attivit\u00e0 immateriali sono iscritte secondo quanto previsto dallo IAS 38 \u2013 Attivit\u00e0 immateriali, quando tale  attivit\u00e0  \u00e8  identificabile,  \u00e8  probabile  che  generi  benefici  economici  futuri  e  il  suo  costo  pu\u00f2  essere determinato attendibilmente. Le attivit\u00e0 immateriali sono rilevate al costo di acquisto, ad eccezione delle Liste Clienti iscritte a seguito di acquisizioni, rilevati inizialmente al loro fair value. Le altre attivit\u00e0 immateriali sono ammortizzate sistematicamente lungo il periodo della stimata vita utile e comunque per una durata che varia da 5 anni a 15 anni.  Gli accordi relativi alla parte specifica di tecnologia cloud, Software-as-a-Service (SaaS), sono contabilizzati secondo  quanto  previsto  dalle  interpretazioni  pubblicate  dall\u2019IFRIC,  secondo  cui  i  costi  sostenuti  per  la personalizzazione del software applicativo verso un fornitore  in un accordo  Software-as-a-Service (SaaS) sono  capitalizzati  solo  quando  sussistano  i  requisiti  previsti  dallo  IAS  38  e  in  particolare  tali  attivit\u00e0  di personalizzazione siano svolte direttamente sui sistemi informativi sotto il controllo del Gruppo/Societ\u00e0. In alternativa tali costi sono registrati direttamente  a conto  economico,  similmente ai costi di configurazione software. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-426": {
   "value": "(a) Costi di sviluppo Si tratta di immobilizzazioni immateriali a vita definita. I costi di sviluppo per progetti di nuovi prodotti sono iscritti all\u2019attivo solo se sono rispettate le seguenti condizioni:  \u2022 i costi possono essere determinati in modo attendibile; \u2022 la fattibilit\u00e0 tecnica del prodotto, i volumi e i prezzi attesi indicano che i costi sostenuti nella fase di sviluppo genereranno benefici economici futuri. Un\u2019attivit\u00e0 immateriale, generata  nella fase di sviluppo  di  un progetto interno,  \u00e8 iscritta come attivit\u00e0 se la Societ\u00e0 \u00e8 in grado di dimostrare: \u2022 la possibilit\u00e0  tecnica  di  completare  l\u2019attivit\u00e0  immateriale,  in modo  che  sia  disponibile  all\u2019utilizzo  o alla vendita; \u2022 l\u2019intenzione di completare l\u2019attivit\u00e0 e la propria capacit\u00e0 di utilizzarla o venderla; \u2022 le modalit\u00e0 con cui l\u2019attivit\u00e0 generer\u00e0 benefici economici futuri; \u2022 la disponibilit\u00e0 di risorse per completare l\u2019attivit\u00e0; \u2022 la disponibilit\u00e0 di adeguate risorse tecniche, finanziarie e di altro tipo per completare lo sviluppo e di utilizzare o rivendere l\u2019attivit\u00e0; \u2022 la capacit\u00e0 di valutare in modo attendibile il costo attribuibile all\u2019attivit\u00e0 durante lo sviluppo; \u2022 la capacit\u00e0 di utilizzare l\u2019attivit\u00e0 immateriale generata. L\u2019ammortamento dei costi di sviluppo, classificati nella voce \u201cCosti di sviluppo\u201d, decorre dal momento in cui la fase di sviluppo si \u00e8 conclusa e l\u2019attivit\u00e0 sottostante inizia a generare benefici economici. Nel  periodo  in  cui  sono  sostenuti  costi  interni  di  sviluppo  capitalizzabili,  gli  stessi  sono  sospesi  a  Conto economico a riduzione delle voci di costo interessate e classificati tra le immobilizzazioni immateriali. I costi di sviluppo capitalizzati sono ammortizzati in base ad una stima del periodo in cui ci si attende che le attivit\u00e0 in oggetto generino flussi di cassa e comunque per periodi non superiori a 5 anni a partire dall\u2019inizio della produzione dei prodotti oggetto dell\u2019attivit\u00e0 di sviluppo. Tutti gli altri costi di sviluppo, che non presentano i requisiti per essere capitalizzati, sono rilevati a conto economico quando sostenuti. I contributi pubblici ottenuti a fronte di investimenti in costi di sviluppo sono rilevati nel conto economico lungo il periodo necessario per correlarli con i relativi piani di ammortamento e sono trattati come proventi differiti. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForResearchAndDevelopmentExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-359": {
   "value": "2.6 Diritti d\u2019uso Il diritto di utilizzo del bene in leasing (cosiddetto \"right of use\") \u00e8 classificato nello stato patrimoniale tra le attivit\u00e0 non correnti. Il  right  of  use  asset  viene  inizialmente  rilevato  al  costo,  determinato  come  sommatoria  delle  seguenti componenti: \u2022  valore iniziale della passivit\u00e0 derivante da lease (paragrafo 2.19); \u2022  eventuali pagamenti effettuati prima della data di inizio del contratto, al netto di eventuali incentivi ricevuti; \u2022  costi diretti iniziali sostenuti dal locatario; \u2022  la  stima  dei  costi  che  il  locatario  prevede  di  sostenere  per  lo  smantellamento,  la  rimozione  e  la demolizione dell\u2019asset sottostante. Successivamente  alla  rilevazione  iniziale,  il  diritto  d\u2019uso  \u00e8  rettificato  per  tener  conto  delle  quote  di ammortamento cumulate, delle eventuali perdite di valore e degli effetti legati ed eventuali rideterminazioni della passivit\u00e0. Le quote di ammortamento sono rilevate a quote costanti e sono contabilizzate a conto economico nella voce \u201cSvalutazione ed ammortamenti\u201d. Il Gruppo si avvale delle esenzioni consentite dall\u2019IFRS 16 per i leasing a breve durata e per quelli di modico valore, rilevando i pagamenti relativi a tali tipologie di leasing a conto economico come costi operativi lungo la durata del contratto di leasing. In relazione alle opzioni di rinnovo, il Gruppo ha proceduto ad effettuare una stima della durata dei relativi contratti di leasing tenuto conto della ragionevole certezza dell\u2019esercizio dell\u2019opzione. 2.19 Passivit\u00e0 derivante da Lease La passivit\u00e0 per leasing \u00e8 rilevata inizialmente ad un ammontare pari al valore attuale dei pagamenti dovuti non versati alla data di decorrenza, attualizzati utilizzando per ciascun contratto il tasso di interesse implicito del leasing ovvero, qualora non fosse facilmente determinabile, utilizzando il tasso di finanziamento marginale Quest\u2019ultimo \u00e8 definito tenendo conto della periodicit\u00e0 dei pagamenti, della durata dei pagamenti previsti dal contratto  di  leasing,  del  Paese  e  della  Business  Unit  di  appartenenza  del  locatario.  I  pagamenti  futuri considerati nel calcolo della passivit\u00e0 sono i seguenti:  \u2022  Pagamenti fissi, al netto di eventuali incentivi da ricevere; \u2022  Pagamenti variabili; \u2022  Stima del pagamento a titolo di garanzia del valore residuo; \u2022  Pagamento del prezzo di esercizio dell\u2019opzione di acquisto, se il locatario \u00e8 ragionevolmente certo di esercitarla; \u2022  Pagamento di penalit\u00e0 contrattuali per la risoluzione del leasing, se il locatario \u00e8 ragionevolmente certo di esercitare tale opzione. Dopo la rilevazione iniziale, la passivit\u00e0 per leasing viene successivamente incrementata dagli interessi che maturano, diminuita dei pagamenti dovuti per leasing ed eventualmente rivalutata in caso di modifica dei futuri pagamenti in relazione a: \u2022  Una variazione dell\u2019indice o del tasso; \u2022  Modifica dell\u2019importo che il Gruppo prevede di dover pagare a titolo di garanzia sul valore residuo; \u2022  Modifica della stima dell\u2019esercizio o meno di un\u2019opzione di acquisto, proroga o risoluzione. La passivit\u00e0 per lease \u00e8 considerata dal Gruppo di natura finanziaria e pertanto \u00e8 inclusa nel calcolo della posizione finanziaria netta. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-360": {
   "value": "2.7 Avviamento L\u2019avviamento derivante dall\u2019acquisto di controllate, classificato tra le attivit\u00e0 non correnti, \u00e8 inizialmente rilevato al costo rappresentato dall\u2019eccedenza del corrispettivo corrisposto e dell\u2019importo iscritto per le interessenze di minoranza, rilevato alla data di acquisizione, rispetto alle attivit\u00e0 nette identificabili acquisite e le passivit\u00e0 assunte dal Gruppo. Se il corrispettivo \u00e8 inferiore al fair value delle attivit\u00e0 nette della controllata acquisita, la differenza \u00e8 rilevata nel conto economico. L\u2019avviamento \u00e8 considerato dal Gruppo Emak un\u2019attivit\u00e0 a vita utile indefinita. Conseguentemente, tale attivit non viene ammortizzata ma \u00e8 assoggettata periodicamente a verifiche per individuare eventuali riduzioni di valore. L\u2019avviamento  \u00e8  allocato  alle  unit\u00e0  operative  che  generano  flussi  finanziari  identificabili  separatamente  monitorati al fine di consentire la verifica di eventuali riduzioni di valore.   L\u2019avviamento relativo a societ\u00e0 collegate \u00e8 incluso nel valore della partecipazione. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-361": {
   "value": "2.8 Perdita di valore delle attivit\u00e0 (Impairment) Le attivit\u00e0 che hanno una vita utile indefinita non vengono ammortizzate e sono verificate almeno annualmente e ogni qualvolta si ravvisino indicatori di possibili perdite di valore. Le attivit\u00e0 soggette ad ammortamento sono verificate per accertare possibili perdite di valore ogniqualvolta eventi o cambiamenti di situazioni indicano che il valore contabile potrebbe non essere recuperabile. La svalutazione per perdita di valore \u00e8 rilevata per un ammontare uguale all\u2019eccedenza del valore contabile rispetto al valore recuperabile, pari al pi\u00f9 alto tra il valore corrente al netto dei costi di vendita ed il valore d\u2019uso. Al fine di valutare la perdita di valore, le attivit\u00e0 sono raggruppate al pi\u00f9 basso livello per il quale si prevedono flussi di cassa identificabili separatamente (unit\u00e0 operative che generano flussi finanziari) come previsto dalla IAS 36.  La precitata verifica di conferma di valore richiede necessariamente l\u2019esercizio di valutazioni soggettive basate sulle informazioni disponibili all\u2019interno del Gruppo, dalle prospettive del mercato di riferimento e dai trend storici. Inoltre, qualora si ipotizzi che possa essersi generata una potenziale riduzione di valore, il Gruppo procede alla determinazione della stessa utilizzando tecniche valutative ritenute idonee. Le medesime verifiche di valore e le medesime tecniche valutative sono applicate sulle attivit\u00e0 immateriali e materiali a vita utile definita quando sussistono indicatori che facciano prevedere difficolt\u00e0 per il recupero del relativo valore netto contabile tramite l\u2019uso. La corretta identificazione di elementi indicatori dell\u2019esistenza di una potenziale riduzione di valore, nonch\u00e9 le stime per la determinazione delle stesse,  dipendono, principalmente,  da  fattori  e  condizioni che possono variare nel tempo in misura anche significativa, influenzando, quindi, le valutazioni e stime effettuate dagli amministratori. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-414": {
   "value": "2.8 Perdita di valore delle attivit\u00e0 (Impairment) Le attivit\u00e0 che hanno una vita utile indefinita non vengono ammortizzate e sono verificate almeno annualmente e ogni qualvolta si ravvisino indicatori di possibili perdite di valore. Le attivit\u00e0 soggette ad ammortamento sono verificate per accertare possibili perdite di valore ogniqualvolta eventi o cambiamenti di situazioni indicano che il valore contabile potrebbe non essere recuperabile. La svalutazione per perdita di valore \u00e8 rilevata per un ammontare uguale all\u2019eccedenza del valore contabile rispetto al valore recuperabile, pari al pi\u00f9 alto tra il valore corrente al netto dei costi di vendita ed il valore d\u2019uso. Al fine di valutare la perdita di valore, le attivit\u00e0 sono raggruppate al pi\u00f9 basso livello per il quale si prevedono flussi di cassa identificabili separatamente (unit\u00e0 operative che generano flussi finanziari) come previsto dalla IAS 36.  La precitata verifica di conferma di valore richiede necessariamente l\u2019esercizio di valutazioni soggettive basate sulle informazioni disponibili all\u2019interno del Gruppo, dalle prospettive del mercato di riferimento e dai trend storici. Inoltre, qualora si ipotizzi che possa essersi generata una potenziale riduzione di valore, il Gruppo procede alla determinazione della stessa utilizzando tecniche valutative ritenute idonee. Le medesime verifiche di valore e le medesime tecniche valutative sono applicate sulle attivit\u00e0 immateriali e materiali a vita utile definita quando sussistono indicatori che facciano prevedere difficolt\u00e0 per il recupero del relativo valore netto contabile tramite l\u2019uso. La corretta identificazione di elementi indicatori dell\u2019esistenza di una potenziale riduzione di valore, nonch\u00e9 le stime per la determinazione delle stesse,  dipendono, principalmente,  da  fattori  e  condizioni che possono variare nel tempo in misura anche significativa, influenzando, quindi, le valutazioni e stime effettuate dagli amministratori. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-362": {
   "value": "2.9 Investimenti immobiliari  Gli immobili detenuti per un apprezzamento a lungo termine del capitale investito ed i fabbricati posseduti al fine di conseguire canoni di locazione sono valutati al costo al netto di ammortamenti e di eventuali perdite per riduzione di valore. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-363": {
   "value": "2.10 Attivit\u00e0 finanziarie Tutte le attivit\u00e0 finanziarie rilevate che rientrano nell\u2019ambito di applicazione dell\u2019IFRS 9 sono rilevate al costo ammortizzato  o  al  fair  value  sulla  base  del  modello  di  business  dell\u2019entit\u00e0  per  la  gestione  delle  attivit\u00e0 finanziarie e delle caratteristiche relative ai flussi finanziari contrattuali dell'attivit\u00e0 finanziaria. In particolare il Gruppo individua le seguenti attivit\u00e0 finanziarie: \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 incassare i flussi di cassa contrattuali, rappresentati unicamente da incassi del capitale e da interessi sull\u2019importo del capitale da restituire. Tali attivit\u00e0 sono valutate al costo ammortizzato; \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 conseguito sia mediante l\u2019incasso dei flussi finanziari contrattuali che mediante la vendita delle stesse: tali attivit\u00e0 sono valutate al fair value con variazioni rilevate nell\u2019utile (perdita) (FVTPL); \u2022  le altre attivit\u00e0 finanziarie sono valutate al fair value, con variazioni rilevate nell\u2019utile (perdita) d\u2019esercizio (FVTPL). In  riferimento  alle  attivit\u00e0  finanziarie  valutate  al  costo  ammortizzato,  quando  i  flussi  finanziari  contrattuali dell'attivit\u00e0 finanziaria sono rinegoziati o altrimenti modificati e la rinegoziazione o la modifica non determinano l'eliminazione contabile, viene ricalcolato il valore contabile lordo dell'attivit\u00e0 finanziaria e l\u2019utile o la perdita derivante da modifica viene rilevato nell'utile (perdita) d'esercizio. Qualsiasi costo o commissione sostenuti rettificano il valore contabile dell'attivit\u00e0 finanziaria modificata e son ammortizzati lungo il corso del restante termine dell'attivit\u00e0. Le attivit\u00e0 finanziarie sono eliminate contabilmente quando i diritti contrattuali sui flussi finanziari scadono o sono  trasferiti,  in  modo  sostanziale,  tutti  i  rischi  e  i  benefici  connessi  alla  detenzione  delle  attivit\u00e0  (cd. Derecognition)  o  nel  caso  in  cui  la  posta  \u00e8  considerata  definitivamente  irrecuperabile  dopo  che  tutte  l necessarie procedure di recupero sono state completate. Le attivit\u00e0 e le passivit\u00e0 finanziarie sono compensate nello stato patrimoniale quando si ha il diritto legale alla  compensazione, correntemente esercitabile, e si ha l\u2019intenzione di regolare il rapporto su base netta (ovvero  di realizzare l\u2019attivit\u00e0 e contemporaneamente estinguere la passivit\u00e0). Le attivit\u00e0 finanziarie non valutate al fair value rilevato nell\u2019utile o perdita d\u2019esercizio sono valutate inizialmente  al loro fair value (valore equo) pi\u00f9 i costi dell'operazione direttamente attribuibili all'acquisizione o all'emissione  dell'attivit\u00e0. In relazione alla perdita di valore delle attivit\u00e0 finanziarie, il Gruppo applica un modello basato sulle perdite  attese  sui  crediti  ad  ogni  data  di  riferimento  del  bilancio  per  riflettere  le  variazioni  nel  rischio  di  credito  intervenute dalla rilevazione iniziale dell\u2019attivit\u00e0 finanziaria. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-438": {
   "value": "2.10 Attivit\u00e0 finanziarie Tutte le attivit\u00e0 finanziarie rilevate che rientrano nell\u2019ambito di applicazione dell\u2019IFRS 9 sono rilevate al costo ammortizzato  o  al  fair  value  sulla  base  del  modello  di  business  dell\u2019entit\u00e0  per  la  gestione  delle  attivit\u00e0 finanziarie e delle caratteristiche relative ai flussi finanziari contrattuali dell'attivit\u00e0 finanziaria. In particolare il Gruppo individua le seguenti attivit\u00e0 finanziarie: \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 incassare i flussi di cassa contrattuali, rappresentati unicamente da incassi del capitale e da interessi sull\u2019importo del capitale da restituire. Tali attivit\u00e0 sono valutate al costo ammortizzato; \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 conseguito sia mediante l\u2019incasso dei flussi finanziari contrattuali che mediante la vendita delle stesse: tali attivit\u00e0 sono valutate al fair value con variazioni rilevate nell\u2019utile (perdita) (FVTPL); \u2022  le altre attivit\u00e0 finanziarie sono valutate al fair value, con variazioni rilevate nell\u2019utile (perdita) d\u2019esercizio (FVTPL). In  riferimento  alle  attivit\u00e0  finanziarie  valutate  al  costo  ammortizzato,  quando  i  flussi  finanziari  contrattuali dell'attivit\u00e0 finanziaria sono rinegoziati o altrimenti modificati e la rinegoziazione o la modifica non determinano l'eliminazione contabile, viene ricalcolato il valore contabile lordo dell'attivit\u00e0 finanziaria e l\u2019utile o la perdita derivante da modifica viene rilevato nell'utile (perdita) d'esercizio. Qualsiasi costo o commissione sostenuti rettificano il valore contabile dell'attivit\u00e0 finanziaria modificata e son ammortizzati lungo il corso del restante termine dell'attivit\u00e0. Le attivit\u00e0 finanziarie sono eliminate contabilmente quando i diritti contrattuali sui flussi finanziari scadono o sono  trasferiti,  in  modo  sostanziale,  tutti  i  rischi  e  i  benefici  connessi  alla  detenzione  delle  attivit\u00e0  (cd. Derecognition)  o  nel  caso  in  cui  la  posta  \u00e8  considerata  definitivamente  irrecuperabile  dopo  che  tutte  l necessarie procedure di recupero sono state completate. Le attivit\u00e0 e le passivit\u00e0 finanziarie sono compensate nello stato patrimoniale quando si ha il diritto legale alla compensazione, correntemente esercitabile, e si ha l\u2019intenzione di regolare il rapporto su base netta (ovvero di realizzare l\u2019attivit\u00e0 e contemporaneamente estinguere la passivit\u00e0). Le attivit\u00e0 finanziarie non valutate al fair value rilevato nell\u2019utile o perdita d\u2019esercizio sono valutate inizialmente al loro fair value (valore equo) pi\u00f9 i costi dell'operazione direttamente attribuibili all'acquisizione o all'emissione dell'attivit\u00e0. In relazione alla perdita di valore delle attivit\u00e0 finanziarie, il Gruppo applica un modello basato sulle perdite attese  sui  crediti  ad  ogni  data  di  riferimento  del  bilancio  per  riflettere  le  variazioni  nel  rischio  di  credito intervenute dalla rilevazione iniziale dell\u2019attivit\u00e0 finanziaria. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-427": {
   "value": "2.10 Attivit\u00e0 finanziarie Tutte le attivit\u00e0 finanziarie rilevate che rientrano nell\u2019ambito di applicazione dell\u2019IFRS 9 sono rilevate al costo ammortizzato  o  al  fair  value  sulla  base  del  modello  di  business  dell\u2019entit\u00e0  per  la  gestione  delle  attivit\u00e0 finanziarie e delle caratteristiche relative ai flussi finanziari contrattuali dell'attivit\u00e0 finanziaria. In particolare il Gruppo individua le seguenti attivit\u00e0 finanziarie: \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 incassare i flussi di cassa contrattuali, rappresentati unicamente da incassi del capitale e da interessi sull\u2019importo del capitale da restituire. Tali attivit\u00e0 sono valutate al costo ammortizzato; \u2022 attivit\u00e0 finanziarie detenute nel quadro di un modello di business il cui obiettivo \u00e8 conseguito sia mediante l\u2019incasso dei flussi finanziari contrattuali che mediante la vendita delle stesse: tali attivit\u00e0 sono valutate al fair value con variazioni rilevate nell\u2019utile (perdita) (FVTPL); \u2022  le altre attivit\u00e0 finanziarie sono valutate al fair value, con variazioni rilevate nell\u2019utile (perdita) d\u2019esercizio (FVTPL). In  riferimento  alle  attivit\u00e0  finanziarie  valutate  al  costo  ammortizzato,  quando  i  flussi  finanziari  contrattuali dell'attivit\u00e0 finanziaria sono rinegoziati o altrimenti modificati e la rinegoziazione o la modifica non determinano l'eliminazione contabile, viene ricalcolato il valore contabile lordo dell'attivit\u00e0 finanziaria e l\u2019utile o la perdita derivante da modifica viene rilevato nell'utile (perdita) d'esercizio. Qualsiasi costo o commissione sostenuti rettificano il valore contabile dell'attivit\u00e0 finanziaria modificata e son ammortizzati lungo il corso del restante termine dell'attivit\u00e0. Le attivit\u00e0 finanziarie sono eliminate contabilmente quando i diritti contrattuali sui flussi finanziari scadono o sono  trasferiti,  in  modo  sostanziale,  tutti  i  rischi  e  i  benefici  connessi  alla  detenzione  delle  attivit\u00e0  (cd. Derecognition)  o  nel  caso  in  cui  la  posta  \u00e8  considerata  definitivamente  irrecuperabile  dopo  che  tutte  l necessarie procedure di recupero sono state completate. Le attivit\u00e0 e le passivit\u00e0 finanziarie sono compensate nello stato patrimoniale quando si ha il diritto legale alla compensazione, correntemente esercitabile, e si ha l\u2019intenzione di regolare il rapporto su base netta (ovvero di realizzare l\u2019attivit\u00e0 e contemporaneamente estinguere la passivit\u00e0). Le attivit\u00e0 finanziarie non valutate al fair value rilevato nell\u2019utile o perdita d\u2019esercizio sono valutate inizialmente al loro fair value (valore equo) pi\u00f9 i costi dell'operazione direttamente attribuibili all'acquisizione o all'emissione dell'attivit\u00e0. In relazione alla perdita di valore delle attivit\u00e0 finanziarie, il Gruppo applica un modello basato sulle perdite attese  sui  crediti  ad  ogni  data  di  riferimento  del  bilancio  per  riflettere  le  variazioni  nel  rischio  di  credito intervenute dalla rilevazione iniziale dell\u2019attivit\u00e0 finanziaria. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-364": {
   "value": "2.11 Attivit\u00e0 e passivit\u00e0 non correnti destinate alla dismissione In questa voce vanno classificate le attivit\u00e0 possedute per la vendita e la dismissione quando: a)  l\u2019attivit\u00e0 \u00e8 immediatamente disponibile per la vendita; b)  la vendita \u00e8 altamente probabile entro un anno; c)  il management \u00e8 impegnato nella vendita; d)  si hanno a disposizione prezzi e quotazioni ragionevoli; e)  \u00e8 improbabile il cambiamento del piano di dismissione; f)  c\u2019\u00e8 la ricerca attiva di un compratore. Tali attivit\u00e0 sono valutate al minore tra il valore contabile ed il fair value al netto dei costi di vendita. Una volta riclassificate in tale categoria l\u2019ammortamento cessa. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-365": {
   "value": "2.12 Partecipazioni in societ\u00e0 collegate Una collegata \u00e8 una societ\u00e0 sulla quale il Gruppo esercita un\u2019influenza notevole. Per influenza notevole si intende il potere di partecipare alla determinazione delle politiche finanziarie e gestionali della partecipata senza averne il controllo o il controllo congiunto. Le partecipazioni del Gruppo in societ\u00e0 collegate sono valutate con il metodo del patrimonio netto. Con il metodo del patrimonio netto, la partecipazione in una societ\u00e0 collegata \u00e8 inizialmente rilevata al costo. Il valore contabile della partecipazione \u00e8 aumentato o diminuito per rilevare la quota di pertinenza della partecipante degli utili e delle perdite della partecipata realizzati dopo la data di acquisizione, tenendo in considerazione l\u2019eventuale effetto dell\u2019eliminazione di margini infragruppo non realizzati. Il conto economico riflette la quota di pertinenza del Gruppo del risultato d\u2019esercizio della societ\u00e0 collegata.  La quota aggregata di pertinenza del Gruppo del risultato d\u2019esercizio delle societ\u00e0 collegate \u00e8 rilevata nel conto economico  e  rappresenta il risultato al  netto  delle  imposte e delle quote  spettanti agli altri  azionisti  della collegata. Il bilancio delle societ\u00e0 collegate \u00e8 predisposto alla stessa data di chiusura del bilancio del Gruppo. Ove necessario, il bilancio \u00e8 rettificato per uniformarlo ai principi contabili di Gruppo. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-366": {
   "value": "2.13 Rimanenze Le rimanenze sono valutate al minore tra costo e valore netto di realizzo. Il costo \u00e8 determinato in base al metodo del costo medio ponderato. Il costo dei prodotti finiti e dei prodotti in corso di lavorazione comprende costi di materie prime, costi di lavoro diretto, le spese generali di produzione e gli altri costi diretti e indiretti che sono sostenuti per portare le rimanenze nel luogo e nelle condizioni attuali. Il valore netto di realizzo \u00e8 determinato sulla base dei prezzi di vendita prevalenti al netto dei costi stimati di completamento e di vendita. Le scorte obsolete o al lento rigiro sono svalutate in relazione alla loro presunta possibilit\u00e0 di utilizzo o di realizzo futuro, mediante l\u2019iscrizione di un apposito fondo che va a rettificare il valore delle rimanenze. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-370": {
   "value": "2.14 Crediti commerciali Sono definibili strumenti finanziari. La rilevazione iniziale avviene al fair value; per i crediti commerciali privi di una  significativa  componente  finanziaria  il  valore  di  rilevazione  iniziale  \u00e8  rappresentato  dal  prezzo  della transazione. La valutazione  della recuperabilit\u00e0  dei crediti \u00e8 effettuata sulla base del cd.  Expected  Credit Losses model previsto dall\u2019IFRS 9. I crediti commerciali sono rilevati inizialmente al fair value e successivamente valutati al costo ammortizzato, utilizzando il metodo dell\u2019interesse effettivo. Sono iscritti al netto di un fondo svalutazione, esposto a diretta deduzione dei crediti stessi per portare la valutazione al loro presunto valore di realizzo. Le perdite attese sui crediti commerciali sono stimate utilizzando una matrice di accantonamento per fasce di scaduto, facendo riferimento  alla  propria  esperienza  storica  in  materia  di  perdite  su  crediti,  ad  un\u2019analisi  della  posizione finanziaria  dei  creditori,  corretta  per  comprendere  fattori  specifici  del  creditore  e  ad  una  valutazione dell\u2019evoluzione corrente e prevista di tali fattori alla data di riferimento del bilancio. Un accantonamento per perdita di valore dei crediti commerciali \u00e8 rilevato quando vi \u00e8 l\u2019obiettiva evidenza che il Gruppo non sar\u00e0 in grado di incassare tutti gli ammontari secondo le originarie condizioni. L\u2019ammontare dell\u2019accantonamento \u00e8 imputato al conto economico. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-367": {
   "value": "2.15 Debiti commerciali  I  debiti  commerciali  e  gli  altri  debiti,  la  cui  scadenza  rientra  nei  normali  termini  commerciali,  non  sono  attualizzati  e  sono  iscritti  al  costo  (identificato  dal  valore  nominale),  rappresentativo  del  loro  valore  di  estinzione.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-368": {
   "value": "2.16 Disponibilit\u00e0 liquide e mezzi equivalenti Le disponibilit\u00e0 liquide e mezzi equivalenti comprendono la cassa contanti, i depositi a vista presso banche e gli investimenti finanziari a breve termine con scadenze originali di tre mesi o inferiori e ad alta liquidit\u00e0, al netto di conti correnti passivi. Nella situazione patrimoniale i conti correnti bancari passivi sono inclusi tra i finanziamenti a breve termine nelle passivit\u00e0 correnti. Ai fini del rendiconto finanziario consolidato le disponibilit\u00e0 liquide sono esposte al netto degli scoperti bancari alla data di chiusura del periodo. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-428": {
   "value": "2.16 Disponibilit\u00e0 liquide e mezzi equivalenti Le disponibilit\u00e0 liquide e mezzi equivalenti comprendono la cassa contanti, i depositi a vista presso banche e gli investimenti finanziari a breve termine con scadenze originali di tre mesi o inferiori e ad alta liquidit\u00e0, al netto di conti correnti passivi. Nella situazione patrimoniale i conti correnti bancari passivi sono inclusi tra i finanziamenti a breve termine nelle passivit\u00e0 correnti. Ai fini del rendiconto finanziario consolidato le disponibilit\u00e0 liquide sono esposte al netto degli scoperti bancari alla data di chiusura del periodo. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-369": {
   "value": "2.17 Capitale sociale Le azioni ordinarie sono classificate nel patrimonio netto. Quando una societ\u00e0 del Gruppo acquista azioni della Capogruppo, il corrispettivo pagato comprensivo di qualsiasi costo attribuibile alla transazione al netto del relativo effetto fiscale \u00e8 dedotto, come azioni proprie, dal totale del patrimonio netto di pertinenza del Gruppo fino a quando esse non saranno eliminate o vendute. Qualsiasi corrispettivo incassato per la loro vendita, al netto dei costi di transazione direttamente attribuibili e del relativo effetto fiscale, viene rilevato nel patrimonio netto di pertinenza del Gruppo. In accordo con quanto previsto dal principio contabile internazionale IAS 32, i costi sostenuti per l\u2019aumento di capitale sociale, (ossia spese di registro o altri oneri dovuti alla autorit\u00e0 di regolamentazione, importi pagati a consulenti  legali,  contabili  e  ad  altri  professionisti,  costi  di  stampa,  imposte  di  registro  e  di  bollo),  sono contabilizzati come una diminuzione di patrimonio netto, al netto di qualsiasi beneficio fiscale connesso, nella misura  in  cui  hanno  natura  di  costi  marginali  direttamente  attribuibili  all\u2019operazione  sul  capitale  che diversamente sarebbero stati evitati. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-371": {
   "value": "2.18 Passivit\u00e0 finanzia<span class=\"_ _1\"></span>rie<span class=\"_ _26a\"> </span> Le <span class=\"_ _2\"></span>passiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie <span class=\"_ _2\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>conta<span class=\"_ _1\"></span>bilizzate <span class=\"_ _3\"></span>inizialmente <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>base al <span class=\"_ _2\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air <span class=\"_ _2\"></span>val<span class=\"_ _1\"></span>ue<span class=\"ff2\">, <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>net<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>dei <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>transazione<span class=\"_ _1\"></span> </span></span>sostenuti. <span class=\"_ _1\"></span><span class=\"ff5\">Successivame<span class=\"_ _1\"></span>nte sono <span class=\"_ _1\"></span>esposti <span class=\"_ _1\"></span>al costo<span class=\"_ _1\"></span> am<span class=\"_ _1\"></span>mortizzato; <span class=\"_ _1\"></span>il differenz<span class=\"_ _1\"></span>iale tr<span class=\"_ _1\"></span>a l\u2019ammo<span class=\"_ _1\"></span>ntare incass<span class=\"_ _1\"></span>ato, a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>trans<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>l\u2019ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>imbors<span class=\"_ _1\"></span>are <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>contabilizzato <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>econo<span class=\"_ _1\"></span>mico <span class=\"_ _8\"></span>su<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>base<span class=\"_ _26a\"> </span> della durata dei finanz<span class=\"_ _1\"></span>iamenti, utilizzando <span class=\"_ _1\"></span>il met<span class=\"_ _1\"></span>odo del tasso d<span class=\"_ _1\"></span>i interesse effettivo<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span> Nel <span class=\"_ _11\"></span>caso <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>modificazioni <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sostanzi<span class=\"_ _1\"></span>ali <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>ini <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>uno <span class=\"_ _20\"></span>strumento <span class=\"_ _20\"></span>finanziario, <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>differenza <span class=\"_ _20\"></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _1\"></span> attuale dei flussi<span class=\"_ _1\"></span> cos\u00ec come<span class=\"_ _1\"></span> modificati (determ<span class=\"_ _1\"></span>inato utilizz<span class=\"_ _1\"></span>ando il tasso di i<span class=\"_ _1\"></span>nteresse effettivo<span class=\"_ _1\"></span> dello st<span class=\"_ _8\"></span>ru<span class=\"_ _1\"></span>mento in<span class=\"_ _26a\"> </span> essere alla data de<span class=\"_ _1\"></span>lla modifica) ed <span class=\"_ _1\"></span>il valore contabile <span class=\"_ _1\"></span>dello strumento \u00e8 <span class=\"_ _1\"></span>iscritta nel conto econo<span class=\"_ _1\"></span>mico.<span class=\"_ _8\"></span> I finanziamenti sono <span class=\"_ _3\"></span>classific<span class=\"_ _1\"></span>ati tra <span class=\"_ _3\"></span>le passivit\u00e0 correnti se il<span class=\"_ _3\"></span> Gruppo non ha <span class=\"_ _3\"></span>un diritto incondizionato di differire<span class=\"_ _26a\"> </span> l\u2019estinzione della pa<span class=\"ff2\">s<span class=\"_ _1\"></span>sivit\u00e0 per alme<span class=\"_ _1\"></span>no 12 mesi dopo l<span class=\"_ _1\"></span>a data di bilancio.<span class=\"_ _8\"></span> </span>Le passivit\u00e0<span class=\"_ _1\"></span> finanz<span class=\"_ _1\"></span>iarie son<span class=\"_ _1\"></span>o rimos<span class=\"_ _1\"></span>se dal<span class=\"_ _1\"></span>lo stato <span class=\"_ _1\"></span>patrimon<span class=\"_ _1\"></span>iale qua<span class=\"_ _1\"></span>ndo <span class=\"_ _1\"></span>la specif<span class=\"_ _1\"></span>ica obbligazio<span class=\"_ _1\"></span>ne contratt<span class=\"_ _1\"></span>uale <span class=\"_ _1\"></span>\u00e8<span class=\"_ _26a\"> </span> estinta. <span class=\"_ _1\"></span>Si <span class=\"_ _8\"></span>configura <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>un\u2019estinzione <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>modifica <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>termini<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>contrattuali <span class=\"_ _8\"></span>esistent<span class=\"_ _11\"></span><span class=\"ff2\">i, <span class=\"_ _1\"></span>qualora <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>nuove<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>condizioni abbiano mut<span class=\"_ _1\"></span>ato significativam<span class=\"_ _1\"></span>ente le pattuizioni or<span class=\"_ _1\"></span>iginarie.<span class=\"_ _1\"></span> Rientrano tra le passivit\u00e0 finanziarie inizialmente <span class=\"_ _3\"></span>valut<span class=\"_ _1\"></span>ate al <span class=\"ff7\">fair value</span> anche i debiti<span class=\"_ _3\"></span> per acquisto delle residue<span class=\"_ _26a\"> </span> quote di partecipazion<span class=\"_ _1\"></span>e di minoranza <span class=\"_ _1\"></span>oggetto di <span class=\"_ _1\"></span><span class=\"ff7\">Put&amp;Cal<span class=\"_ _1\"></span>l Option</span>.<span class=\"_ _26a\"> </span> ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-430": {
   "value": "2.18 Passivit\u00e0 finanzia<span class=\"_ _1\"></span>rie<span class=\"_ _26a\"> </span>Le <span class=\"_ _2\"></span>passiv<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _2\"></span>finanz<span class=\"_ _1\"></span>iarie <span class=\"_ _2\"></span>son<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>conta<span class=\"_ _1\"></span>bilizzate <span class=\"_ _3\"></span>inizialmente <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>base al <span class=\"_ _2\"></span><span class=\"ff7\">f<span class=\"_ _1\"></span>air <span class=\"_ _2\"></span>val<span class=\"_ _1\"></span>ue<span class=\"ff2\">, <span class=\"_ _3\"></span>al <span class=\"_ _2\"></span>net<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>dei <span class=\"_ _3\"></span>costi <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>transazione<span class=\"_ _1\"></span> </span></span>sostenuti. <span class=\"_ _1\"></span><span class=\"ff5\">Successivame<span class=\"_ _1\"></span>nte sono <span class=\"_ _1\"></span>esposti <span class=\"_ _1\"></span>al costo<span class=\"_ _1\"></span> am<span class=\"_ _1\"></span>mortizzato; <span class=\"_ _1\"></span>il differenz<span class=\"_ _1\"></span>iale tr<span class=\"_ _1\"></span>a l\u2019ammo<span class=\"_ _1\"></span>ntare incass<span class=\"_ _1\"></span>ato, a<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>netto <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>costi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>trans<span class=\"_ _1\"></span>azione <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>l\u2019ammontar<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>imbors<span class=\"_ _1\"></span>are <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>contabilizzato <span class=\"_ _8\"></span>nel <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>econo<span class=\"_ _1\"></span>mico <span class=\"_ _8\"></span>su<span class=\"_ _1\"></span>lla <span class=\"_ _8\"></span>base<span class=\"_ _26a\"> </span>della durata dei finanz<span class=\"_ _1\"></span>iamenti, utilizzando <span class=\"_ _1\"></span>il met<span class=\"_ _1\"></span>odo del tasso d<span class=\"_ _1\"></span>i interesse effettivo<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>Nel <span class=\"_ _11\"></span>caso <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>modificazioni <span class=\"_ _20\"></span>non <span class=\"_ _11\"></span>sostanzi<span class=\"_ _1\"></span>ali <span class=\"_ _11\"></span>dei <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>ini <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>uno <span class=\"_ _20\"></span>strumento <span class=\"_ _20\"></span>finanziario, <span class=\"_ _20\"></span>la <span class=\"_ _11\"></span>differenza <span class=\"_ _20\"></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _1\"></span> attuale dei flussi<span class=\"_ _1\"></span> cos\u00ec come<span class=\"_ _1\"></span> modificati (determ<span class=\"_ _1\"></span>inato utilizz<span class=\"_ _1\"></span>ando il tasso di i<span class=\"_ _1\"></span>nteresse effettivo<span class=\"_ _1\"></span> dello st<span class=\"_ _8\"></span>ru<span class=\"_ _1\"></span>mento in<span class=\"_ _26a\"> </span>essere alla data de<span class=\"_ _1\"></span>lla modifica) ed <span class=\"_ _1\"></span>il valore contabile <span class=\"_ _1\"></span>dello strumento \u00e8 <span class=\"_ _1\"></span>iscritta nel conto econo<span class=\"_ _1\"></span>mico.<span class=\"_ _8\"></span> I finanziamenti sono <span class=\"_ _3\"></span>classific<span class=\"_ _1\"></span>ati tra <span class=\"_ _3\"></span>le passivit\u00e0 correnti se il<span class=\"_ _3\"></span> Gruppo non ha <span class=\"_ _3\"></span>un diritto incondizionato di differire<span class=\"_ _26a\"> </span>l\u2019estinzione della pa<span class=\"ff2\">s<span class=\"_ _1\"></span>sivit\u00e0 per alme<span class=\"_ _1\"></span>no 12 mesi dopo l<span class=\"_ _1\"></span>a data di bilancio.<span class=\"_ _8\"></span> </span>Le passivit\u00e0<span class=\"_ _1\"></span> finanz<span class=\"_ _1\"></span>iarie son<span class=\"_ _1\"></span>o rimos<span class=\"_ _1\"></span>se dal<span class=\"_ _1\"></span>lo stato <span class=\"_ _1\"></span>patrimon<span class=\"_ _1\"></span>iale qua<span class=\"_ _1\"></span>ndo <span class=\"_ _1\"></span>la specif<span class=\"_ _1\"></span>ica obbligazio<span class=\"_ _1\"></span>ne contratt<span class=\"_ _1\"></span>uale <span class=\"_ _1\"></span>\u00e8<span class=\"_ _26a\"> </span>estinta. <span class=\"_ _1\"></span>Si <span class=\"_ _8\"></span>configura <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>un\u2019estinzione <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>modifica <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>termini<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>contrattuali <span class=\"_ _8\"></span>esistent<span class=\"_ _11\"></span><span class=\"ff2\">i, <span class=\"_ _1\"></span>qualora <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>nuove<span class=\"_ _26a\"> </span></span>condizioni abbiano mut<span class=\"_ _1\"></span>ato significativam<span class=\"_ _1\"></span>ente le pattuizioni or<span class=\"_ _1\"></span>iginarie.<span class=\"_ _1\"></span> Rientrano tra le passivit\u00e0 finanziarie inizialmente <span class=\"_ _3\"></span>valut<span class=\"_ _1\"></span>ate al <span class=\"ff7\">fair value</span> anche i debiti<span class=\"_ _3\"></span> per acquisto delle residue<span class=\"_ _26a\"> </span>quote di partecipazion<span class=\"_ _1\"></span>e di minoranza <span class=\"_ _1\"></span>oggetto di <span class=\"_ _1\"></span><span class=\"ff7\">Put&amp;Cal<span class=\"_ _1\"></span>l Option</span>.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-415": {
   "value": "I finanziamenti sono <span class=\"_ _3\"></span>classific<span class=\"_ _1\"></span>ati tra <span class=\"_ _3\"></span>le passivit\u00e0 correnti se il<span class=\"_ _3\"></span> Gruppo non ha <span class=\"_ _3\"></span>un diritto incondizionato di differire<span class=\"_ _26a\"> </span>l\u2019estinzione della pa<span class=\"ff2\">s<span class=\"_ _1\"></span>sivit\u00e0 per alme<span class=\"_ _1\"></span>no 12 mesi dopo l<span class=\"_ _1\"></span>a data di bilancio.<span class=\"_ _8\"></span> </span>Le passivit\u00e0<span class=\"_ _1\"></span> finanz<span class=\"_ _1\"></span>iarie son<span class=\"_ _1\"></span>o rimos<span class=\"_ _1\"></span>se dal<span class=\"_ _1\"></span>lo stato <span class=\"_ _1\"></span>patrimon<span class=\"_ _1\"></span>iale qua<span class=\"_ _1\"></span>ndo <span class=\"_ _1\"></span>la specif<span class=\"_ _1\"></span>ica obbligazio<span class=\"_ _1\"></span>ne contratt<span class=\"_ _1\"></span>uale <span class=\"_ _1\"></span>\u00e8<span class=\"_ _26a\"> </span>estinta. <span class=\"_ _1\"></span>Si <span class=\"_ _8\"></span>configura <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ome <span class=\"_ _8\"></span>un\u2019estinzione <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>modifica <span class=\"_ _8\"></span>dei <span class=\"_ _1\"></span>termini<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>contrattuali <span class=\"_ _8\"></span>esistent<span class=\"_ _11\"></span><span class=\"ff2\">i, <span class=\"_ _1\"></span>qualora <span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>nuove<span class=\"_ _26a\"> </span></span>condizioni abbiano mut<span class=\"_ _1\"></span>ato significativam<span class=\"_ _1\"></span>ente le pattuizioni or<span class=\"_ _1\"></span>iginarie.<span class=\"_ _1\"></span> Rientrano tra le passivit\u00e0 finanziarie inizialmente <span class=\"_ _3\"></span>valut<span class=\"_ _1\"></span>ate al <span class=\"ff7\">fair value</span> anche i debiti<span class=\"_ _3\"></span> per acquisto delle residue<span class=\"_ _26a\"> </span>quote di partecipazion<span class=\"_ _1\"></span>e di minoranza <span class=\"_ _1\"></span>oggetto di <span class=\"_ _1\"></span><span class=\"ff7\">Put&amp;Cal<span class=\"_ _1\"></span>l Option</span>.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-429": {
   "value": "2.20 Imposte  Le imposte correnti sono le imposte accantonate in conformit\u00e0 alla normativa in vigore alla data di riferiment della situazione patrimoniale-finanziaria nei vari paesi in cui opera il Gruppo; comprendono inoltre le rettifich alle imposte di esercizi precedenti. Le imposte anticipate e differite sono iscritte in modo da riflettere tutte le differenze temporanee esistenti alla data del bilancio tra il valore attribuito ad una attivit\u00e0/passivit\u00e0 ai fini fiscali e quello attribuito secondo i princip contabili applicati. Le attivit\u00e0 per imposte differite attive e passivit\u00e0 per imposte differite passive sono calcolate con le aliquot fiscali stabilite dalla normativa vigente. Le attivit\u00e0 per le imposte anticipate sono contabilizzate su tutte le differenze temporanee, nella misura in cui probabile che sar\u00e0 realizzato un reddito imponibile a fronte del quale possa essere utilizzata la differenz temporanea deducibile. Lo stesso principio si applica per la contabilizzazione delle attivit\u00e0 per imposte differite attive sulle perdite fiscali. Il valore contabile delle attivit\u00e0 fiscali differite viene rivisto a ciascuna data di bilancio ed eventualmente ridotto nella misura in cui non sia pi\u00f9 probabile realizzare un reddito imponibile sufficiente, tale da consentirne in tutto, o in parte, il recupero delle attivit\u00e0. Tali attivit\u00e0 vengono ripristinate nel caso in cui vengano meno le condizioni che ne hanno determinato lo stralcio.  La regola  generale  prevede che,  salvo specifiche  eccezioni,  le  imposte  differite  passive  debbano  essere sempre rilevate. Il  Gruppo  analizza  gli  uncertain  tax  treatments  (individualmente  o  nel  loro  insieme,  a  seconda  delle caratteristiche),  assumendo  sempre  che  l\u2019autorit\u00e0  esamini  la  posizione  fiscale  in  oggetto,  avendo  piena conoscenza di tutte le informazioni rilevanti. Nel caso in cui si ritenga non probabile che l\u2019autorit\u00e0 fiscale accetti il trattamento fiscale seguito, il Gruppo riflette l\u2019effetto dell\u2019incertezza nella misurazione delle proprie imposte sul reddito correnti e differite come previsto dall\u2019IFRIC 23. Le imposte (correnti e differite) relative a componenti rilevati direttamente a Patrimonio Netto sono imputate direttamente a Patrimonio Netto. Le attivit\u00e0 e le passivit\u00e0 fiscali per imposte correnti sono compensate solo se si ha un diritto esercitabile di compensare gli importi rilevati contabilmente e si intende liquidare o saldare le partite al netto o si intende realizzare l\u2019attivit\u00e0 ed estinguere contemporaneamente la passivit\u00e0. Si \u00e8 in grado di compensare le imposte differite  attive  e  passive  solo  se  si  prevede  che  divengano  contemporaneamente  liquide,  esigibili  e scomputabili, in relazione al medesimo ente impositore.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-372": {
   "value": "2.20 Imposte  Le imposte correnti sono le imposte accantonate in conformit\u00e0 alla normativa in vigore alla data di riferiment o della situazione patrimoniale-finanziaria nei vari paesi in cui opera il Gruppo; comprendono inoltre le rettifich e alle imposte di esercizi precedenti. Le imposte anticipate e differite sono iscritte in modo da riflettere tutte le differenze temporanee esistenti alla data del bilancio tra il valore attribuito ad una attivit\u00e0/passivit\u00e0 ai fini fiscali e quello attribuito secondo i princip i contabili applicati. Le attivit\u00e0 per imposte differite attive e passivit\u00e0 per imposte differite passive sono calcolate con le aliquot e fiscali stabilite dalla normativa vigente. Le attivit\u00e0 per le imposte anticipate sono contabilizzate su tutte le differenze temporanee, nella misura in cui \u00e8 probabile che sar\u00e0 realizzato un reddito imponibile a fronte del quale possa essere utilizzata la differenz a temporanea deducibile. Lo stesso principio si applica per la contabilizzazione delle attivit\u00e0 per imposte differite attive sulle perdite fiscali. Il valore contabile delle attivit\u00e0 fiscali differite viene rivisto a ciascuna data di bilancio ed eventualmente ridotto nella misura in cui non sia pi\u00f9 probabile realizzare un reddito imponibile sufficiente, tale da consentirne in tutto, o in parte, il recupero delle attivit\u00e0. Tali attivit\u00e0 vengono ripristinate nel caso in cui vengano meno le condizioni che ne hanno determinato lo stralcio.  La regola  generale  prevede che,  salvo specifiche  eccezioni,  le  imposte  differite  passive  debbano  essere sempre rilevate. Il  Gruppo  analizza  gli  uncertain  tax  treatments  (individualmente  o  nel  loro  insieme,  a  seconda  delle caratteristiche),  assumendo  sempre  che  l\u2019autorit\u00e0  esamini  la  posizione  fiscale  in  oggetto,  avendo  piena conoscenza di tutte le informazioni rilevanti. Nel caso in cui si ritenga non probabile che l\u2019autorit\u00e0 fiscale accetti il trattamento fiscale seguito, il Gruppo riflette l\u2019effetto dell\u2019incertezza nella misurazione delle proprie imposte sul reddito correnti e differite come previsto dall\u2019IFRIC 23. Le imposte (correnti e differite) relative a componenti rilevati direttamente a Patrimonio Netto sono imputate direttamente a Patrimonio Netto. Le attivit\u00e0 e le passivit\u00e0 fiscali per imposte correnti sono compensate solo se si ha un diritto esercitabile di compensare gli importi rilevati contabilmente e si intende liquidare o saldare le partite al netto o si intende realizzare l\u2019attivit\u00e0 ed estinguere contemporaneamente la passivit\u00e0. Si \u00e8 in grado di compensare le imposte differite  attive  e  passive  solo  se  si  prevede  che  divengano  contemporaneamente  liquide,  esigibili  e scomputabili, in relazione al medesimo ente impositore.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-416": {
   "value": "alle imposte di esercizi precedenti. Le imposte anticipate e differite sono iscritte in modo da riflettere tutte le differenze temporanee esistenti alla data del bilancio tra il valore attribuito ad una attivit\u00e0/passivit\u00e0 ai fini fiscali e quello attribuito secondo i princip contabili applicati. Le attivit\u00e0 per imposte differite attive e passivit\u00e0 per imposte differite passive sono calcolate con le aliquot fiscali stabilite dalla normativa vigente. Le attivit\u00e0 per le imposte anticipate sono contabilizzate su tutte le differenze temporanee, nella misura in cui probabile che sar\u00e0 realizzato un reddito imponibile a fronte del quale possa essere utilizzata la differenz temporanea deducibile. Lo stesso principio si applica per la contabilizzazione delle attivit\u00e0 per imposte differite attive sulle perdite fiscali. Il valore contabile delle attivit\u00e0 fiscali differite viene rivisto a ciascuna data di bilancio ed eventualmente ridotto nella misura in cui non sia pi\u00f9 probabile realizzare un reddito imponibile sufficiente, tale da consentirne in tutto, o in parte, il recupero delle attivit\u00e0. Tali attivit\u00e0 vengono ripristinate nel caso in cui vengano meno le condizioni che ne hanno determinato lo stralcio.  La regola  generale  prevede che,  salvo specifiche  eccezioni,  le  imposte  differite  passive  debbano  essere sempre rilevate. Il  Gruppo  analizza  gli  uncertain  tax  treatments  (individualmente  o  nel  loro  insieme,  a  seconda  delle caratteristiche),  assumendo  sempre  che  l\u2019autorit\u00e0  esamini  la  posizione  fiscale  in  oggetto,  avendo  piena conoscenza di tutte le informazioni rilevanti. Nel caso in cui si ritenga non probabile che l\u2019autorit\u00e0 fiscale accetti il trattamento fiscale seguito, il Gruppo riflette l\u2019effetto dell\u2019incertezza nella misurazione delle proprie imposte sul reddito correnti e differite come previsto dall\u2019IFRIC 23. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-373": {
   "value": "2.21 Trattamento di fine rapporto Il trattamento di fine rapporto rientra nella tipologia dei piani a benefici definiti, soggetti a valutazioni di natura attuariale (mortalit\u00e0, probabilit\u00e0 di cessazioni, ecc.) ed esprime il valore attuale del beneficio, erogabile al termine del rapporto di lavoro, che i dipendenti hanno maturato alla data di bilancio. I  costi  relativi all\u2019incremento  del  valore  attuale  dell\u2019obbligazione,  derivanti  dall\u2019avvicinarsi  del momento del pagamento, sono inclusi tra gli oneri finanziari. Tutti gli altri costi rientranti nell\u2019accantonamento sono rilevati nel conto economico come costo del personale. Gli utili e le perdite attuariali sono contabilizzati nel prospetto delle variazioni del conto economico complessivo nell\u2019esercizio in cui si manifestano. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTerminationBenefits",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-431": {
   "value": "2.21 Trattamento di fine rapporto Il trattamento di fine rapporto rientra nella tipologia dei piani a benefici definiti, soggetti a valutazioni di natura attuariale (mortalit\u00e0, probabilit\u00e0 di cessazioni, ecc.) ed esprime il valore attuale del beneficio, erogabile al termine del rapporto di lavoro, che i dipendenti hanno maturato alla data di bilancio. I  costi  relativi all\u2019incremento  del  valore  attuale  dell\u2019obbligazione,  derivanti  dall\u2019avvicinarsi  del momento del pagamento, sono inclusi tra gli oneri finanziari. Tutti gli altri costi rientranti nell\u2019accantonamento sono rilevati nel conto economico come costo del personale. Gli utili e le perdite attuariali sono contabilizzati nel prospetto delle variazioni del conto economico complessivo nell\u2019esercizio in cui si manifestano. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-375": {
   "value": "2.22 Fondi per rischi ed oneri Gli accantonamenti ai fondi per rischi ed oneri sono iscritti in bilancio quando il Gruppo ha un\u2019obbligazione legale  o  implicita  risultante  da  eventi  passati,  \u00e8  probabile  che  sia  richiesto  un  pagamento  a  saldo dell\u2019obbligazione ed \u00e8 possibile effettuare una stima attendibile dell\u2019importo relativo.  Eventuali passivit\u00e0 definite come potenziali non danno luogo ad accantonamenti a fondi rischi ed oneri.    ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-432": {
   "value": "2.22 Fondi per rischi ed oneri Gli accantonamenti ai fondi per rischi ed oneri sono iscritti in bilancio quando il Gruppo ha un\u2019obbligazione legale  o  implicita  risultante  da  eventi  passati,  \u00e8  probabile  che  sia  richiesto  un  pagamento  a  saldo dell\u2019obbligazione ed \u00e8 possibile effettuare una stima attendibile dell\u2019importo relativo.  Eventuali passivit\u00e0 definite come potenziali non danno luogo ad accantonamenti a fondi rischi ed oneri.    ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-374": {
   "value": "2.23 Ricavi I ricavi sono riconosciuti nel conto economico secondo il principio della competenza economica e temporale e sono rilevati nella misura in cui \u00e8 probabile che alla Societ\u00e0 confluiranno dei benefici economici associati alla vendita di beni o alla prestazione di servizi ed il loro ammontare pu\u00f2 essere determinato in modo attendibile. I ricavi sono contabilizzati  al netto  di resi, sconti, abbuoni e tasse direttamente associate alla vendita del prodotto o alla prestazione del servizio. Le vendite sono riconosciute al fair value del corrispettivo ricevuto per la vendita di prodotti e servizi, quando vi sono le seguenti condizioni: a)  avviene il sostanziale trasferimento dei rischi e benefici connessi alla propriet\u00e0 del bene; b)  il valore dei ricavi \u00e8 determinato in maniera attendibile; c)  \u00e8 probabile che i benefici economici derivanti dalla vendita saranno fruiti dall\u2019impresa; d)  i costi sostenuti,  o da sostenere, sono determinati in modo attendibile e rispettano il principio della correlazione con i ricavi. La contabilizzazione dei ricavi prevede il rispetto dei passaggi previsti dall\u2019IFRS 15: \u2022  identificazione del contratto con il cliente; identificazione delle performance obligations previste nel contratto; determinazione del prezzo; allocazione del prezzo alle performance obligations contenute nel contratto; riconoscimento dei ricavi quando l\u2019entit\u00e0 soddisfa ciascuna performance obligation. I ricavi sono riconosciuti al momento del trasferimento del controllo della merce al cliente che coincide con il momento in cui la merce \u00e8 consegnata al cliente (at a point in time), nel rispetto delle specifiche condizioni contrattuali regolate con la clientela.  Il Gruppo ha ritenuto che la disaggregazione dei ricavi per segmenti operativi sia appropriata per soddisfare il requisito di informativa richiesto in quanto si tratta di informazioni regolarmente riviste dal management al fine di valutare la perfomance finanziaria della societ\u00e0. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-376": {
   "value": "2.24 Contributi pubblici I contributi pubblici sono rilevati al fair value quando sussiste la ragionevole certezza che essi saranno ricevuti e tutte le condizioni ad essi riferite risultino soddisfatte. Quando i contributi sono correlati a componenti di costo (per esempio i contributi in conto esercizio) sono  rilevati  come  ricavi,  ma  sono  ripartiti  sistematicamente  su  differenti  esercizi  in  modo  che  i  ricavi  siano  commisurati ai costi che essi intendono compensare. Nel caso di contributo correlato ad un\u2019attivit\u00e0 (es. contributo in conto impianti) il suo ammontare \u00e8 sospeso  nelle passivit\u00e0 a lungo termine e progressivamente avviene il rilascio a conto economico a rate costanti lungo  un arco temporale pari alla durata della vita utile dell\u2019attivit\u00e0 di riferimento.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGovernmentGrants",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-377": {
   "value": "2.25 Proventi e oneri finanziari  I  proventi  e  gli  oneri  finanziari  sono  rilevati  per  competenza  utilizzando  il  tasso  di  interesse  effettivo  ed  includono gli utili e le perdite su cambi e gli utili e le perdite su strumenti finanziari derivati imputati a conto  economico. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-417": {
   "value": "2.25 Proventi e oneri finanziari I  proventi  e  gli  oneri  finanziari  sono  rilevati  per  competenza  utilizzando  il  tasso  di  interesse  effettivo  ed includono gli utili e le perdite su cambi e gli utili e le perdite su strumenti finanziari derivati imputati a conto economico. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-378": {
   "value": "2.26 Distribuzione di dividendi I dividendi sulle azioni ordinarie della Capogruppo sono rilevati come passivit\u00e0 nel bilancio dell\u2019esercizio in cui  la distribuzione \u00e8 approvata dall\u2019assemblea. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-379": {
   "value": "2.27 Utile per azione L\u2019utile base per azione \u00e8 calcolato dividendo il risultato economico del Gruppo per la media ponderata delle  azioni in circolazione durante l\u2019esercizio, escludendo le azioni proprie. Emak S.p.A. non ha azioni ordinarie potenziali. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-380": {
   "value": "2.28 Rendiconto finanziario Il rendiconto finanziario \u00e8 stato redatto applicando il metodo indiretto. Le disponibilit\u00e0 liquide ed i mezzi equivalenti inclusi nel rendiconto finanziario comprendono i saldi patrimoniali di tale voce alla data di riferimento. I proventi ed i costi relativi a interessi, dividendi ricevuti e imposte sul reddito sono inclusi nei flussi finanziari generati dalla gestione operativa.  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-381": {
   "value": "2.2<span class=\"ls1\">9 Variazione <span class=\"_ _1\"></span>ai principi cont<span class=\"_ _1\"></span>abili e nuovi principi<span class=\"_ _1\"></span> contabili <span class=\"_ _1\"></span> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS applicati dal 1\u00b0<span class=\"_ _1\"></span> gennaio 20<span class=\"_ _1\"></span>22<span class=\"_ _1\"></span><span class=\"ff3 fs3\"> </span>I <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>eguenti <span class=\"_ _20\"></span>principi <span class=\"_ _20\"></span>contabili, <span class=\"_ _20\"></span>emend<span class=\"_ _1\"></span>amenti <span class=\"_ _20\"></span>e <span class=\"_ _20\"></span>interpretazioni <span class=\"_ _20\"></span>IFR<span class=\"_ _1\"></span>S <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>tati <span class=\"_ _20\"></span>applicati <span class=\"_ _20\"></span>per <span class=\"_ _20\"></span>la <span class=\"_ _20\"></span>prima<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>olta<span class=\"_ _8\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>al<span class=\"_ _26a\"> </span> Gruppo a partire dal 1\u00b0 <span class=\"_ _1\"></span>gennaio 2022:<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 14 maggio 202<span class=\"_ _1\"></span>0 lo IASB ha pubb<span class=\"_ _1\"></span>licato i segue<span class=\"_ _1\"></span>nti emendamenti den<span class=\"_ _1\"></span>ominati:<span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>3 <span class=\"_ _20\"></span>Business <span class=\"_ _20\"></span>Combinations<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _20\"></span>le <span class=\"_ _20\"></span>modifiche <span class=\"_ _20\"></span>hanno <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>scopo <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>aggiornare <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span></span></span></span>riferimento <span class=\"_ _23\"> </span>pr<span class=\"_ _1\"></span>esente <span class=\"_ _21\"> </span>nell\u2019IFRS <span class=\"_ _21\"> </span>3 <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>Conc<span class=\"_ _1\"></span>eptual <span class=\"_ _23\"> </span>Fr<span class=\"_ _1\"></span>amework <span class=\"_ _21\"> </span>nella <span class=\"_ _21\"> </span>versione <span class=\"_ _21\"> </span>rivista, <span class=\"_ _21\"> </span>senza <span class=\"_ _21\"> </span>che <span class=\"_ _21\"> </span>ci\u00f2<span class=\"_ _26a\"> </span>comporti modifiche al<span class=\"_ _1\"></span>le disposizioni de<span class=\"_ _1\"></span>l principio.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _23\"></span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>16 <span class=\"_ _23\"></span>Property, <span class=\"_ _23\"></span>Plant <span class=\"_ _23\"></span>and <span class=\"_ _23\"></span>Equipment<span class=\"_ _1\"></span><span class=\"ff2\">: <span class=\"_ _23\"> </span>le <span class=\"_ _23\"></span>modifiche <span class=\"_ _23\"> </span>hanno <span class=\"_ _23\"> </span>lo <span class=\"_ _23\"> </span>scopo <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>non<span class=\"_ _26a\"> </span></span></span></span>consentire <span class=\"_ _21\"> </span>la <span class=\"_ _21\"> </span>deduz<span class=\"_ _1\"></span>ione <span class=\"_ _21\"> </span>dal <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>osto <span class=\"_ _21\"> </span>delle <span class=\"_ _1e\"> </span>attivit\u00e0 <span class=\"_ _21\"> </span>materiali <span class=\"_ _21\"> </span>l\u2019importo<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>ricevuto <span class=\"_ _21\"> </span>dalla <span class=\"_ _21\"> </span>ve<span class=\"_ _1\"></span>ndita <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>beni<span class=\"_ _26a\"> </span>prodotti <span class=\"_ _8\"></span>nella <span class=\"_ _8\"></span>fase <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>test <span class=\"_ _8\"></span>dell\u2019attivit\u00e0 <span class=\"_ _8\"></span>stess<span class=\"_ _1\"></span>a. <span class=\"_ _8\"></span>Tali <span class=\"_ _8\"></span>ricavi<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>endita <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>relativi <span class=\"_ _8\"></span>costi <span class=\"_ _11\"></span>saranno <span class=\"_ _8\"></span>pertanto<span class=\"_ _26a\"> </span>rilevati nel conto <span class=\"_ _1\"></span>economico.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Amendments <span class=\"_ _f7\"> </span>to <span class=\"_ _f7\"> </span>IAS <span class=\"_ _8e\"> </span>37 <span class=\"_ _f7\"> </span>Provisions, <span class=\"_ _f7\"> </span>Cont<span class=\"_ _1\"></span>ingent <span class=\"_ _f7\"> </span>Liabilities <span class=\"_ _f7\"> </span>and <span class=\"_ _8e\"> </span>Contingent <span class=\"_ _f7\"> </span>Assets<span class=\"_ _8\"></span><span class=\"ff2 ls5\">:<span class=\"_ _26a\"> </span></span></span></span>l\u2019emendamento <span class=\"_ _12\"> </span>chiarisce <span class=\"_ _12\"> </span>che <span class=\"_ _12\"> </span>nella <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>tima <span class=\"_ _12\"> </span>sull\u2019eventuale <span class=\"_ _12\"> </span>onerosit\u00e0 <span class=\"_ _12\"> </span>di <span class=\"_ _12\"> </span>un <span class=\"_ _27\"> </span>contr<span class=\"_ _1\"></span>atto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>i <span class=\"_ _27\"> </span>devo<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>considerare <span class=\"_ _12\"> </span>tutti <span class=\"_ _12\"> </span>i <span class=\"_ _27\"> </span>costi <span class=\"_ _12\"> </span>direttamente <span class=\"_ _12\"> </span>imputab<span class=\"_ _1\"></span>ili <span class=\"_ _12\"> </span>al <span class=\"_ _27\"> </span>contratto. <span class=\"_ _12\"> </span>Di <span class=\"_ _12\"> </span>con<span class=\"_ _1\"></span>seguenz<span class=\"_ _1\"></span>a, <span class=\"_ _12\"> </span>la <span class=\"_ _27\"> </span>valutazi<span class=\"_ _1\"></span>one<span class=\"_ _26a\"> </span>sull\u2019eventuale <span class=\"_ _11\"></span>oneros<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>contratto <span class=\"_ _11\"></span>inc<span class=\"_ _1\"></span>lude <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>solo <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>cost<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>incrementali <span class=\"_ _11\"></span>(come <span class=\"_ _11\"></span>ad <span class=\"_ _11\"></span>ese<span class=\"_ _1\"></span>mpio, <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>costo del materiale d<span class=\"_ _1\"></span>iretto impi<span class=\"_ _1\"></span>egato nella lavor<span class=\"_ _1\"></span>azione), ma<span class=\"_ _1\"></span> anche tutti i cost<span class=\"_ _1\"></span>i che l\u2019impresa <span class=\"_ _1\"></span>non pu\u00f2<span class=\"_ _26a\"> </span>evitare <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>q<span class=\"_ _1\"></span>uanto <span class=\"_ _1e\"> </span>ha <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>tipula<span class=\"_ _1\"></span>to <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>co<span class=\"_ _1\"></span>ntratto <span class=\"_ _1e\"> </span>(c<span class=\"_ _1\"></span>ome, <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>esempio, <span class=\"_ _1e\"> </span>l<span class=\"_ _1\"></span>a <span class=\"_ _1e\"> </span>quota  dell'ammortamento <span class=\"_ _1e\"> </span>dei<span class=\"_ _26a\"> </span>macchinari impiegat<span class=\"_ _1\"></span>i per l'adempiment<span class=\"_ _1\"></span>o del contratto).<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _20\"></span><span class=\"ffd fc1\">Annual Improvements 2018-2020<span class=\"ff5\">: le modifiche sono state <span class=\"_ _3\"></span>apportat<span class=\"_ _1\"></span>e all\u2018IFRS 1 <span class=\"ff7\">First-time Adoption<span class=\"_ _26a\"> </span></span></span></span></span>of <span class=\"_ _26\"> </span>International <span class=\"_ _26\"> </span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Report<span class=\"_ _1\"></span>ing <span class=\"_ _26\"> </span>Sta<span class=\"_ _1\"></span>ndards<span class=\"ff5\">, <span class=\"_ _27\"> </span>all\u2019IFRS <span class=\"_ _26\"> </span>9 <span class=\"_ _26\"> </span></span>Fi<span class=\"_ _1\"></span>nancial <span class=\"_ _26\"> </span>Instrume<span class=\"_ _1\"></span>nts<span class=\"ff2\">, <span class=\"_ _27\"> </span>allo <span class=\"_ _26\"> </span>IAS <span class=\"_ _26\"> </span>41<span class=\"_ _1\"></span> </span>Agriculture<span class=\"ff2\"> e agl<span class=\"_ _1\"></span>i </span>Illustrative Examples<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"ff5\">dell\u2019IFRS <span class=\"_ _1\"></span>16 </span></span>Leas<span class=\"_ _1\"></span>es<span class=\"ff2\">.<span class=\"_ _26a\"> </span></span>L\u2019adozione di tali emen<span class=\"_ _1\"></span>damenti no<span class=\"_ _1\"></span>n ha comportato eff<span class=\"_ _1\"></span>etti sul bilancio co<span class=\"_ _1\"></span>nsolidato d<span class=\"_ _1\"></span>el Gruppo. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Principi <span class=\"_ _21\"> </span>contabili, <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _21\"> </span>ed<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>interpretazion<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>ifrs <span class=\"_ _21\"> </span>omologati <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>all\u2019unio<span class=\"_ _1\"></span>ne <span class=\"_ _21\"> </span>europea, <span class=\"_ _21\"> </span>non <span class=\"_ _21\"> </span>anco<span class=\"_ _1\"></span>ra<span class=\"_ _26a\"> </span>obbligatoriamente applic<span class=\"_ _1\"></span>abili e non adot<span class=\"_ _1\"></span>tati in via anticipata<span class=\"_ _8\"></span> dal gruppo al 3<span class=\"_ _1\"></span>1 dicembre 202<span class=\"_ _1\"></span>2<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _11\"></span>da<span class=\"_ _1\"></span>ta <span class=\"_ _20\"></span>18 <span class=\"_ _20\"></span>maggio <span class=\"_ _20\"></span>2017 <span class=\"_ _20\"></span>lo <span class=\"_ _20\"></span>IASB <span class=\"_ _20\"></span>ha <span class=\"_ _20\"></span>pubblicato <span class=\"_ _20\"></span>il <span class=\"_ _20\"></span>principio <span class=\"_ _23\"></span><span class=\"ff4\">IFRS <span class=\"_ _20\"></span>17 <span class=\"_ _20\"></span><span class=\"ff6\">\u2013</span> <span class=\"_ _20\"></span>Insuranc<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>Co<span class=\"_ _1\"></span>ntracts</span> <span class=\"_ _20\"></span>che<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>\u00e8<span class=\"_ _1\"></span> </span>destinato a sostituire i<span class=\"_ _1\"></span>l principio IFRS<span class=\"_ _1\"></span> 4 <span class=\"ff5\">\u2013</span> Insura<span class=\"_ _1\"></span>nce Contracts<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span>L'obiettivo <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>nuovo<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uello <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>garant<span class=\"_ _1\"></span>ire <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>un'en<span class=\"_ _8\"></span>tit\u00e0 <span class=\"_ _8\"></span>fornisca <span class=\"_ _11\"></span>informazioni <span class=\"_ _8\"></span>pertinenti <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>he<span class=\"_ _26a\"> </span>rappresentano <span class=\"_ _1\"></span>fede<span class=\"_ _1\"></span>lmente <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>diritti <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>gli <span class=\"_ _1\"></span>obbl<span class=\"_ _1\"></span>ighi <span class=\"_ _1\"></span>derivanti <span class=\"_ _1\"></span>dai <span class=\"_ _1\"></span>contra<span class=\"_ _1\"></span>tti <span class=\"_ _1\"></span>assicurativi<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span>messi. <span class=\"_ _1\"></span>Lo <span class=\"_ _1\"></span>IASB<span class=\"_ _1\"></span> h<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>sviluppato <span class=\"_ _1e\"> </span>lo <span class=\"_ _21\"> </span>stan<span class=\"_ _1\"></span>dard <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>eliminare <span class=\"_ _1e\"> </span>incongruenze <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>debolezze <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>po<span class=\"_ _1\"></span>litiche <span class=\"_ _1e\"> </span>contabili <span class=\"_ _1e\"> </span>esistenti,<span class=\"_ _26a\"> </span>fornendo <span class=\"_ _8\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>quadro <span class=\"_ _8\"></span>unico <span class=\"_ _11\"></span>principle-based<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>tenere <span class=\"_ _11\"></span>conto <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tutti <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>tipi <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>contratti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>assicurazio<span class=\"_ _1\"></span>ne,<span class=\"_ _26a\"> </span>inclusi i contratti di rias<span class=\"_ _1\"></span>sicurazione che un ass<span class=\"_ _1\"></span>icuratore detiene<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> Il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _21\"> </span>principio <span class=\"_ _1e\"> </span>prevede <span class=\"_ _21\"> </span>inoltre <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ei <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>equisiti <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>pre<span class=\"_ _1\"></span>sentazione <span class=\"_ _21\"> </span>e <span class=\"_ _1e\"> </span>di <span class=\"_ _21\"> </span>informativ<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>per<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>migli<span class=\"_ _8\"></span>orare <span class=\"_ _21\"> </span>la<span class=\"_ _26a\"> </span>comparabilit\u00e0 tra le ent<span class=\"_ _1\"></span>it\u00e0 appartenen<span class=\"_ _1\"></span>ti a questo settore.<span class=\"_ _8\"></span> Il <span class=\"_ _11\"></span>nuov<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _20\"></span>misura <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>contratto <span class=\"_ _20\"></span>assicurativo <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"></span>base <span class=\"_ _20\"></span>di <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>General <span class=\"_ _20\"></span>Model <span class=\"_ _20\"></span>o <span class=\"_ _20\"></span>una <span class=\"_ _20\"></span>versione<span class=\"_ _1\"></span> semplificata di questo<span class=\"_ _1\"></span>, chiamato Pre<span class=\"_ _1\"></span>mium Allocation A<span class=\"_ _1\"></span>pproach (\u201cPAA\u201d).<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Le principali caratt<span class=\"_ _1\"></span>eristiche del G<span class=\"_ _1\"></span>eneral Model sono:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me e le ipotesi dei f<span class=\"_ _1\"></span>uturi flussi di cassa so<span class=\"_ _1\"></span>no sempre quelle c<span class=\"_ _1\"></span>orrenti;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">la m<span class=\"_ _1\"></span>isurazione riflette<span class=\"_ _1\"></span> il valore temporale <span class=\"_ _1\"></span>del denaro;<span class=\"_ _1\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">le sti<span class=\"_ _1\"></span>me prevedono un <span class=\"_ _1\"></span>utilizzo estensivo <span class=\"_ _1\"></span>di informazion<span class=\"_ _1\"></span>i osservabili sul <span class=\"_ _8\"></span>mercato;<span class=\"_ _26a\"> </span></span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">es<span class=\"_ _1\"></span>iste una misurazione<span class=\"_ _1\"></span> corrente ed espl<span class=\"_ _1\"></span>icita del rischio;<span class=\"_ _8\"></span> </span></span>-<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>prof<span class=\"_ _1\"></span>itto <span class=\"_ _20\"></span>attes<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _20\"></span>differito <span class=\"_ _23\"> </span>e <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>ggregato <span class=\"_ _23\"></span>in <span class=\"_ _23\"></span>gruppi <span class=\"_ _20\"></span>di <span class=\"_ _23\"></span>contratti <span class=\"_ _23\"></span>assicurativi <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"></span>momento <span class=\"_ _23\"></span>della<span class=\"_ _26a\"> </span></span></span>rilevazione iniziale; e,<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _2d\"> </span><span class=\"fc1\">il<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>profitto <span class=\"_ _8\"></span>atteso <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>rilevato <span class=\"_ _8\"></span>nel <span class=\"_ _1\"></span>peri<span class=\"_ _1\"></span>odo <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>copertura <span class=\"_ _8\"></span>contrattuale <span class=\"_ _11\"></span>tenendo <span class=\"_ _1\"></span>co<span class=\"_ _1\"></span>nto <span class=\"_ _1\"></span>dell<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>rettifiche<span class=\"_ _1\"></span> </span></span>derivanti <span class=\"_ _23\"> </span>da <span class=\"_ _23\"> </span>variaz<span class=\"_ _1\"></span>ioni <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _23\"></span>ipotesi <span class=\"_ _23\"> </span>rela<span class=\"_ _1\"></span>tive <span class=\"_ _23\"> </span>ai <span class=\"_ _23\"> </span>f<span class=\"_ _1\"></span>lussi <span class=\"_ _23\"> </span>finanz<span class=\"_ _1\"></span>iari <span class=\"_ _23\"></span>relativi <span class=\"_ _21\"> </span>a <span class=\"_ _23\"></span>ciascun <span class=\"_ _23\"> </span>grup<span class=\"_ _1\"></span>po <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span>contratti.<span class=\"_ _26a\"> </span>L\u2019approccio <span class=\"_ _23\"> </span>PAA<span class=\"ff7\"> <span class=\"_ _21\"> </span><span class=\"ff2\">prevede <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>misurazione <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>lla <span class=\"_ _23\"></span>passivit\u00e0 <span class=\"_ _23\"> </span>per <span class=\"_ _21\"> </span>la <span class=\"_ _23\"></span>copertura <span class=\"_ _23\"> </span>resid<span class=\"_ _1\"></span>ua <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>un <span class=\"_ _23\"> </span>gruppo <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span></span></span>contratti <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>as<span class=\"_ _1\"></span>sicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>condizione <span class=\"_ _11\"></span>che, <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>momento <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>riconoscimento <span class=\"_ _8\"></span>inizi<span class=\"_ _1\"></span>ale, <span class=\"_ _8\"></span>l'ent<span class=\"_ _1\"></span>it\u00e0 <span class=\"_ _8\"></span>prev<span class=\"_ _1\"></span>eda<span class=\"_ _26a\"> </span>che tale pa<span class=\"_ _3\"></span>ssivit\u00e0 rapprese<span class=\"_ _1\"></span>nti ragionevolmente un\u2019appross<span class=\"_ _1\"></span>imazione del <span class=\"_ _3\"></span>Genera<span class=\"_ _1\"></span>l Model. I <span class=\"_ _3\"></span>contratt<span class=\"_ _1\"></span>i con<span class=\"_ _26a\"> </span>un <span class=\"_ _11\"></span>periodo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>copertura <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>anno <span class=\"_ _11\"></span>o <span class=\"_ _11\"></span>meno <span class=\"_ _11\"></span>sono <span class=\"_ _11\"></span>automaticamente <span class=\"_ _11\"></span>idone<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span><span class=\"ff5\">l\u2019approccio <span class=\"_ _11\"></span>PA<span class=\"_ _1\"></span>A. <span class=\"_ _11\"></span> <span class=\"_ _11\"></span>Le<span class=\"_ _26a\"> </span></span>semplificazioni <span class=\"_ _23\"> </span>deriva<span class=\"_ _1\"></span>nti <span class=\"_ _23\"> </span>dall\u2019applicaz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"> </span>del<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>metodo <span class=\"_ _23\"> </span>PA<span class=\"_ _1\"></span>A <span class=\"_ _23\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>applicano <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>lla <span class=\"_ _23\"> </span>valutazione<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>delle<span class=\"_ _26a\"> </span>passivit\u00e0 <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i <span class=\"_ _11\"></span><span class=\"ff7\">claims</span> <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>ere, <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>sono <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>isurati <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span><span class=\"ff7\">Gen<span class=\"_ _1\"></span>eral <span class=\"_ _8\"></span>Model<span class=\"_ _1\"></span></span>. <span class=\"_ _8\"></span>Tuttavia, <span class=\"_ _8\"></span>non <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>necessario<span class=\"_ _26a\"> </span>attualizzare <span class=\"_ _8\"></span>quei <span class=\"_ _8\"></span>flussi <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>ci <span class=\"_ _1\"></span>si<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ende <span class=\"_ _8\"></span>che <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>saldo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>agare <span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>incassare <span class=\"_ _8\"></span>avverr\u00e0 <span class=\"_ _8\"></span>entro <span class=\"_ _8\"></span>un<span class=\"_ _26a\"> </span>anno dalla data in cu<span class=\"_ _1\"></span>i \u00e8 avvenuto il <span class=\"_ _1\"></span><span class=\"ff7\">claim</span>.<span class=\"_ _1\"></span> L'entit\u00e0 <span class=\"_ _23\"> </span>deve <span class=\"_ _23\"> </span>ap<span class=\"_ _1\"></span>plicare <span class=\"_ _23\"> </span>il <span class=\"_ _23\"> </span>n<span class=\"_ _1\"></span>uovo <span class=\"_ _23\"> </span>principio<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>ai <span class=\"_ _23\"> </span>contratti <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>assicuraz<span class=\"_ _1\"></span>ione <span class=\"_ _23\"></span>emessi, <span class=\"_ _21\"> </span>inclusi <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>contratt<span class=\"_ _1\"></span>i <span class=\"_ _23\"></span>di<span class=\"_ _26a\"> </span>riassicurazione emessi, ai contratti di <span class=\"_ _1\"></span>riassicurazione detenuti<span class=\"_ _1\"></span> e anche ai contratti di investimento con<span class=\"_ _26a\"> </span>una <span class=\"ff7 ls1\">discrectonary<span class=\"_ _1\"></span> partecipation feature<span class=\"_ _1\"></span><span class=\"ff2\"> (DPF).<span class=\"_ _26a\"> </span></span></span><span class=\"ff7 ls1\"><span class=\"ff2\"><span class=\"_ _1\"></span> </span></span>Il <span class=\"_ _8\"></span>principio <span class=\"_ _11\"></span>si <span class=\"_ _8\"></span>applica <span class=\"_ _11\"></span>a <span class=\"_ _8\"></span>partire <span class=\"_ _11\"></span>dal <span class=\"_ _8\"></span>1\u00b0 <span class=\"_ _8\"></span>ge<span class=\"_ _1\"></span>nnaio <span class=\"_ _8\"></span>202<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span> <span class=\"_ _8\"></span><span class=\"ff5\">m<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _11\"></span>consentita <span class=\"_ _8\"></span>un\u2019a<span class=\"_ _1\"></span>pplicazione <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>nticipata<span class=\"_ _1\"></span></span>, <span class=\"_ _8\"></span>sol<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>per <span class=\"_ _8\"></span>le <span class=\"_ _11\"></span>entit\u00e0 <span class=\"_ _11\"></span>che <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>pplicano <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>9 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">F<span class=\"_ _1\"></span>inancial <span class=\"_ _11\"></span>Instruments</span> <span class=\"_ _11\"></span></span>e <span class=\"_ _11\"></span>l\u2019IFRS <span class=\"_ _11\"></span>15 <span class=\"_ _11\"></span>\u2013<span class=\"ff2\"> <span class=\"_ _8\"></span><span class=\"ff7\">Revenue <span class=\"_ _11\"></span>from <span class=\"_ _11\"></span>Contracts<span class=\"_ _26a\"> </span></span></span>with Customers<span class=\"_ _1\"></span><span class=\"ff2 ls5\">. <span class=\"ls1\"> </span></span>Gli  amministratori <span class=\"_ _26\"> </span>non  si  attendono <span class=\"_ _90\"> </span>un <span class=\"_ _26\"> </span>effetto  significativo <span class=\"_ _90\"> </span>n<span class=\"_ _1\"></span>el  bilancio <span class=\"_ _26\"> </span>consolidato  del  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di ques<span class=\"_ _1\"></span>to principio.<span class=\"_ _1\"></span><span class=\"ff4\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In <span class=\"_ _2\"></span>data <span class=\"_ _2\"></span>9<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>dicembre 20<span class=\"_ _3\"></span>21, <span class=\"_ _3\"></span>lo <span class=\"_ _2\"></span>IASB<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>ha <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ubblicato <span class=\"_ _2\"></span>un<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>emendam<span class=\"_ _1\"></span>ento <span class=\"_ _2\"></span>den<span class=\"_ _1\"></span>ominato <span class=\"ff11\">\u201cAmendments <span class=\"_ _2\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>IFRS<span class=\"_ _26a\"> </span></span></span>17 <span class=\"_ _1\"></span>Insurance <span class=\"_ _1\"></span>cont<span class=\"_ _1\"></span>racts: <span class=\"_ _1\"></span>I<span class=\"_ _1\"></span>nitial <span class=\"_ _1\"></span>Application <span class=\"_ _1\"></span>of<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>IFRS <span class=\"_ _1\"></span>17 <span class=\"_ _8\"></span>and <span class=\"_ _1\"></span>IFRS <span class=\"_ _8\"></span>9 <span class=\"_ _8\"></span><span class=\"ff11\">\u2013</span> <span class=\"_ _1\"></span><span class=\"ff11\">Comp<span class=\"_ _1\"></span>arative <span class=\"_ _1\"></span>Inf<span class=\"_ _1\"></span>ormation\u201d<span class=\"_ _1\"></span><span class=\"ff2 ls5\">.<span class=\"_ _26a\"> </span></span></span>L'emendamento <span class=\"_ _26\"> </span>\u00e8 <span class=\"_ _26\"> </span>un'opzi<span class=\"_ _1\"></span>one <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>transizione <span class=\"_ _26\"> </span>relativa<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>alle <span class=\"_ _26\"> </span>informazioni <span class=\"_ _26\"> </span>c<span class=\"_ _1\"></span>om<span class=\"_ _1\"></span>parative <span class=\"_ _26\"> </span>sulle <span class=\"_ _26\"> </span>attivit\u00e0<span class=\"_ _1\"></span> finanziarie <span class=\"_ _3\"></span>presentate alla <span class=\"_ _2\"></span>data di<span class=\"_ _3\"></span> applicazione <span class=\"_ _3\"></span>iniziale <span class=\"_ _3\"></span>dell'IFRS 17. <span class=\"_ _2\"></span>L'emenda<span class=\"_ _1\"></span>mento <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>volto <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _3\"></span>evitare<span class=\"_ _26a\"> </span>disallineamenti co<span class=\"_ _1\"></span>ntabili t<span class=\"_ _1\"></span>emporanei <span class=\"_ _1\"></span>tra attivit<span class=\"_ _1\"></span>\u00e0 finanzi<span class=\"_ _1\"></span>arie e <span class=\"_ _1\"></span>passivit\u00e0 d<span class=\"_ _1\"></span>i contratti <span class=\"_ _1\"></span>assicurativi, <span class=\"_ _1\"></span>e quindi<span class=\"_ _26a\"> </span>a <span class=\"_ _2\"></span>migliorare <span class=\"_ _2\"></span>l'uti<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>infor<span class=\"_ _1\"></span>mazioni <span class=\"_ _2\"></span>comparative <span class=\"_ _2\"></span>per <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>lettori <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>ilancio. <span class=\"_ _2\"></span>Le <span class=\"_ _2\"></span>mod<span class=\"_ _1\"></span>ifiche <span class=\"_ _2\"></span>si <span class=\"_ _2\"></span>applicheran<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>dal 1\u00b0 gennaio 2023<span class=\"_ _1\"></span>, unitamente all\u2019appl<span class=\"_ _1\"></span>icazione del princ<span class=\"_ _1\"></span>ipio IFRS 17. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  un  effett<span class=\"_ _1\"></span>o  significativo <span class=\"_ _26\"> </span>nel  bilancio  c<span class=\"_ _1\"></span>onsolidato  d<span class=\"_ _8\"></span>el  G<span class=\"_ _1\"></span>ruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In  data  12  febbraio  2021  lo  IASB  ha  pubblicato  due  emendamenti  denomi<span class=\"_ _1\"></span>nati  \u201c<span class=\"_ _1\"></span><span class=\"ffd\">Disc<span class=\"_ _1\"></span>losure  of<span class=\"_ _26a\"> </span></span></span></span>Accounting <span class=\"_ _20\"></span>Policies<span class=\"ff11\">\u2014<span class=\"_ _1\"></span></span>Amendments <span class=\"_ _20\"></span>to <span class=\"_ _20\"></span>IAS <span class=\"_ _20\"></span>1 <span class=\"_ _11\"></span>and <span class=\"_ _20\"></span>IFRS <span class=\"_ _20\"></span>Practice <span class=\"_ _20\"></span>Statement <span class=\"_ _20\"></span>2<span class=\"_ _1\"></span><span class=\"fff\">\u201d <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>\u201c</span>Defin<span class=\"_ _1\"></span>ition <span class=\"_ _11\"></span>of<span class=\"_ _26a\"> </span>Accounting Estimates<span class=\"_ _1\"></span><span class=\"ff11\">\u2014</span>A<span class=\"_ _1\"></span>mendments to IA<span class=\"_ _1\"></span>S 8<span class=\"fff\">\u201d. <span class=\"ff7\">L<span class=\"_ _1\"></span><span class=\"ff2\">e modifiche son<span class=\"_ _1\"></span>o volte a migl<span class=\"_ _1\"></span>iorare la <span class=\"_ _1\"></span></span>disclosure<span class=\"ff2\"> </span></span></span>sulle <span class=\"_ _11\"></span><span class=\"ff7\">account<span class=\"_ _1\"></span>ing <span class=\"_ _11\"></span>policy<span class=\"_ _1\"></span></span> <span class=\"_ _11\"></span>in <span class=\"_ _20\"></span>modo <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>for<span class=\"_ _1\"></span>nire <span class=\"_ _11\"></span>informaz<span class=\"_ _1\"></span>ioni <span class=\"_ _11\"></span>p<span class=\"_ _1\"></span>i\u00f9 <span class=\"_ _11\"></span>utili <span class=\"_ _11\"></span>agl<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>investitori <span class=\"_ _20\"></span>e <span class=\"_ _11\"></span>agli <span class=\"_ _20\"></span>altri <span class=\"_ _11\"></span>utilizzatori<span class=\"_ _26a\"> </span>primari <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>nch\u00e9 <span class=\"_ _1\"></span>ad <span class=\"_ _1\"></span>aiutare <span class=\"_ _1\"></span>le <span class=\"_ _1\"></span>soci<span class=\"_ _1\"></span>et\u00e0 <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>distinguere <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>cam<span class=\"_ _1\"></span>biamenti <span class=\"_ _1\"></span>nelle<span class=\"_ _1\"></span> s<span class=\"_ _1\"></span>time c<span class=\"_ _1\"></span>ontabili <span class=\"_ _1\"></span>dai<span class=\"_ _26a\"> </span>cambiamenti <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span><span class=\"ff7\">accounting <span class=\"_ _3\"></span>policy.<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _2\"></span>Le mo<span class=\"_ _3\"></span>difiche <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>applic<span class=\"_ _1\"></span>heranno <span class=\"_ _2\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _3\"></span>1\u00b0 <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>ennaio <span class=\"_ _3\"></span>2023, <span class=\"_ _2\"></span>ma <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita<span class=\"_ _26a\"> </span></span></span>un\u2019applicazione <span class=\"_ _21\"> </span>anticipata. <span class=\"_ _21\"> </span>Gli <span class=\"_ _23\"> </span>amm<span class=\"_ _1\"></span>inistratori <span class=\"_ _23\"> </span>non <span class=\"_ _21\"> </span>si <span class=\"_ _21\"> </span>attendono <span class=\"_ _23\"> </span>un <span class=\"_ _21\"> </span>effetto <span class=\"_ _21\"> </span>significativo <span class=\"_ _21\"> </span>nel <span class=\"_ _23\"> </span>b<span class=\"_ _1\"></span>ilancio<span class=\"_ _26a\"> </span>consolidato del Gruppo <span class=\"_ _1\"></span>dall\u2019adozione d<span class=\"_ _1\"></span>i tali emendame<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data <span class=\"_ _3\"></span>7 maggio 2021 lo <span class=\"_ _3\"></span>IASB ha pubblicato un <span class=\"_ _3\"></span>emendamen<span class=\"_ _1\"></span>to d<span class=\"ff5\">enominato \u201c<span class=\"ffd\">Amen<span class=\"_ _1\"></span>dments to IAS <span class=\"_ _3\"></span>12<span class=\"_ _26a\"> </span></span></span></span>Income <span class=\"_ _2\"></span>Taxes:<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>Deferred <span class=\"_ _3\"></span>Tax <span class=\"_ _2\"></span>related<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>to <span class=\"_ _2\"></span>As<span class=\"_ _1\"></span>sets <span class=\"_ _2\"></span>and <span class=\"_ _2\"></span>L<span class=\"_ _1\"></span>iabilities <span class=\"_ _3\"></span>arising <span class=\"_ _2\"></span>from <span class=\"_ _3\"></span>a <span class=\"_ _2\"></span>Single <span class=\"_ _2\"></span>Tran<span class=\"_ _1\"></span>saction<span class=\"_ _1\"></span><span class=\"ff5\">\u201d<span class=\"_ _1\"></span>.<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _8\"></span>docum<span class=\"_ _1\"></span>ento <span class=\"_ _8\"></span>chi<span class=\"_ _1\"></span>arisce <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>me <span class=\"_ _11\"></span>devono <span class=\"_ _8\"></span>essere<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>contabi<span class=\"_ _1\"></span>lizzate <span class=\"_ _11\"></span>le <span class=\"_ _8\"></span>imposte <span class=\"_ _11\"></span>differite <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>lcune <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>perazioni<span class=\"_ _26a\"> </span>che  poss<span class=\"_ _1\"></span>ono  generare<span class=\"_ _1\"></span>  att<span class=\"_ _1\"></span>ivit\u00e0<span class=\"_ _1\"></span>  e <span class=\"_ _26\"> </span>passivit\u00e0  d<span class=\"_ _1\"></span>i  pari <span class=\"_ _26\"> </span>ammontare,  q<span class=\"_ _1\"></span>uali  i<span class=\"_ _1\"></span>l  leas<span class=\"_ _1\"></span>ing  e <span class=\"_ _90\"> </span>gl<span class=\"_ _1\"></span>i  obbl<span class=\"_ _1\"></span>ighi  di<span class=\"_ _26a\"> </span>smantellamento. Le modifiche <span class=\"_ _3\"></span>si applicheranno dal 1\u00b0 gennaio <span class=\"_ _3\"></span>2023, ma \u00e8 <span class=\"_ _3\"></span>consenti<span class=\"_ _1\"></span>ta <span class=\"_ _3\"></span>un\u2019app<span class=\"_ _1\"></span>licazione<span class=\"_ _26a\"> </span>anticipata. <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>li <span class=\"_ _23\"> </span>am<span class=\"_ _1\"></span>ministratori <span class=\"_ _21\"> </span>non <span class=\"_ _23\"> </span>si<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>attendon<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>u<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>effetto <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ignificativo<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>nel <span class=\"_ _21\"> </span>bilancio <span class=\"_ _21\"> </span>con<span class=\"_ _8\"></span>solidato <span class=\"_ _21\"> </span>del<span class=\"_ _26a\"> </span>Gruppo dall\u2019adozione d<span class=\"_ _1\"></span>i tale emendame<span class=\"_ _1\"></span>nto.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Principi contabili, em<span class=\"_ _1\"></span>endamenti ed inte<span class=\"_ _1\"></span>rpretazioni <span class=\"_ _1\"></span>IFRS non ancora omolog<span class=\"_ _1\"></span>ati dall\u2019Union<span class=\"_ _1\"></span>e Europea<span class=\"_ _8\"></span><span class=\"ff4\"> </span>Alla data di <span class=\"_ _3\"></span>riferime<span class=\"_ _1\"></span>nto del presente documento, gli organi competenti dell\u2019Unione<span class=\"_ _1\"></span> Europea non <span class=\"ff2\">hanno ancor<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>concluso <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>process<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>omologaz<span class=\"_ _1\"></span>ione <span class=\"_ _1e\"> </span>necessari<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>per <span class=\"_ _1e\"> </span>l\u2019adozi<span class=\"_ _1\"></span>one <span class=\"_ _1e\"> </span>degl<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>emendamenti <span class=\"_ _1f\"> </span>e <span class=\"_ _1e\"> </span>dei <span class=\"_ _1e\"> </span>principi <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>otto<span class=\"_ _26a\"> </span>descritti.<span class=\"_ _26a\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In dat<span class=\"_ _1\"></span>a 23 <span class=\"_ _1\"></span>gennai<span class=\"_ _1\"></span>o 20<span class=\"_ _1\"></span>20 l<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>IASB h<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>pubblicato <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>emendament<span class=\"_ _1\"></span>o de<span class=\"_ _1\"></span>nominato <span class=\"_ _1\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ffd\">Amendments <span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>IAS<span class=\"_ _26a\"> </span></span></span></span>1 Presentation <span class=\"_ _1\"></span>of Financi<span class=\"_ _1\"></span>al Statement<span class=\"_ _1\"></span>s:<span class=\"_ _1\"></span> Classificat<span class=\"_ _1\"></span>ion of <span class=\"_ _1\"></span>Liabilities as Cur<span class=\"_ _1\"></span>rent <span class=\"_ _1\"></span>or Non<span class=\"_ _1\"></span>-current<span class=\"ff5 lsf\">\u201d<span class=\"_ _26a\"> </span></span>ed <span class=\"_ _20\"> </span>i<span class=\"_ _1\"></span>n <span class=\"_ _23\"> </span>data <span class=\"_ _23\"> </span>31 <span class=\"_ _20\"> </span>o<span class=\"_ _1\"></span>ttobre <span class=\"_ _23\"> </span>2022 <span class=\"_ _23\"> </span>ha <span class=\"_ _23\"> </span>pubblicato <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>emendamento <span class=\"_ _23\"> </span>denominat<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amendments <span class=\"_ _23\"> </span>to <span class=\"_ _23\"></span>IAS <span class=\"_ _23\"></span>1<span class=\"_ _26a\"> </span></span>Presentation <span class=\"_ _21\"> </span>of <span class=\"_ _21\"> </span>Financial<span class=\"_ _1\"></span> <span class=\"_ _21\"> </span>Statements: <span class=\"_ _21\"> </span>Non<span class=\"_ _1\"></span>-<span class=\"_ _1\"></span><span class=\"ff11\">Current <span class=\"_ _21\"> </span>Liabilitie<span class=\"_ _1\"></span>s <span class=\"_ _21\"> </span>with <span class=\"_ _21\"> </span>Covena<span class=\"_ _1\"></span>nts\u201d<span class=\"_ _1\"></span><span class=\"ff2\">. <span class=\"_ _21\"> </span>I <span class=\"_ _21\"> </span>documenti<span class=\"_ _26a\"> </span></span></span>hanno <span class=\"_ _8\"></span>l\u2019obiettivo <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>chiarire<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>come<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>lassificare <span class=\"_ _8\"></span>i <span class=\"_ _8\"></span>debiti <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>le <span class=\"_ _8\"></span>altre <span class=\"_ _8\"></span>passivit\u00e0 <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>breve<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>o<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>lung<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine. <span class=\"_ _8\"></span>Le<span class=\"_ _26a\"> </span>modifiche <span class=\"_ _8\"></span>entrano <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>vigore <span class=\"_ _8\"></span>dal <span class=\"_ _1\"></span>1\u00b0 <span class=\"_ _8\"></span>gennaio <span class=\"_ _1\"></span>2<span class=\"_ _1\"></span>024; <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>comunque<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>conse<span class=\"_ _1\"></span>ntita <span class=\"_ _1\"></span>un<span class=\"_ _1\"></span>\u2019applicazione <span class=\"_ _8\"></span>anticipata.<span class=\"_ _26a\"> </span>Gli  amministratori <span class=\"_ _26\"> </span>non  si <span class=\"_ _90\"> </span>attendon<span class=\"_ _1\"></span>o  u<span class=\"_ _1\"></span>n  effetto <span class=\"_ _26\"> </span>significativo  nel <span class=\"_ _26\"> </span>bilancio  consolidato <span class=\"_ _90\"> </span>d<span class=\"_ _1\"></span>el  Gruppo<span class=\"_ _26a\"> </span>dall\u2019adozione di tale <span class=\"_ _1\"></span>emendamento. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>\u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">In <span class=\"_ _11\"></span>data <span class=\"_ _11\"></span>22 <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ettembre <span class=\"_ _20\"></span>2022 <span class=\"_ _11\"></span>lo <span class=\"_ _11\"></span>IA<span class=\"_ _1\"></span>SB <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>pu<span class=\"_ _1\"></span>bblicato <span class=\"_ _11\"></span>un <span class=\"_ _20\"></span>emendamento <span class=\"_ _20\"></span>denominato <span class=\"_ _20\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ffd\">Amend<span class=\"_ _1\"></span>ments <span class=\"_ _11\"></span>to<span class=\"_ _26a\"> </span></span></span></span>IFRS <span class=\"_ _11\"></span>16 <span class=\"_ _20\"></span>Leases: <span class=\"_ _20\"> </span>Lease <span class=\"_ _20\"></span>L<span class=\"_ _1\"></span>iability <span class=\"_ _11\"></span>in <span class=\"_ _20\"> </span>a <span class=\"_ _20\"> </span>Sale <span class=\"_ _20\"> </span>and <span class=\"_ _20\"></span>Leaseback\u201d<span class=\"_ _1\"></span>. <span class=\"_ _20\"> </span><span class=\"ff2\">Il <span class=\"_ _20\"></span>documento <span class=\"_ _20\"></span>ric<span class=\"_ _1\"></span>hiede <span class=\"_ _20\"></span>al <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>enditore-<span class=\"_ _26a\"> </span></span>lessee d<span class=\"_ _1\"></span>i v<span class=\"_ _1\"></span>alutare l<span class=\"_ _1\"></span>a pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _1\"></span>per i<span class=\"_ _1\"></span>l lease <span class=\"_ _1\"></span>riven<span class=\"_ _1\"></span>iente d<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>transazione <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>sale <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>leaseback <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>modo<span class=\"_ _26a\"> </span>da non <span class=\"_ _1\"></span>rilev<span class=\"_ _1\"></span>are un <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ovento <span class=\"_ _1\"></span>o una <span class=\"_ _1\"></span>perdit<span class=\"_ _1\"></span>a che <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferis<span class=\"_ _1\"></span>cano <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>diritto d<span class=\"_ _1\"></span>\u2019uso trat<span class=\"_ _1\"></span>tenuto. <span class=\"_ _11\"></span><span class=\"ff2\">Le modif<span class=\"_ _1\"></span>iche si<span class=\"_ _1\"></span> </span>applicheranno dal <span class=\"_ _2\"></span>1\u00b0 <span class=\"_ _3\"></span>gen<span class=\"ff5\">na<span class=\"_ _1\"></span>io <span class=\"_ _2\"></span>20<span class=\"_ _1\"></span>24, <span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>a <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>consentita <span class=\"_ _3\"></span>un\u2019appl<span class=\"_ _1\"></span>icazione <span class=\"_ _3\"></span>anticipata. <span class=\"_ _3\"></span>Gli amministratori <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>on<span class=\"_ _26a\"> </span></span>si <span class=\"_ _27\"> </span>attend<span class=\"_ _1\"></span>ono <span class=\"_ _27\"> </span>un<span class=\"_ _1\"></span> <span class=\"_ _27\"> </span>eff<span class=\"_ _1\"></span>etto <span class=\"_ _27\"> </span>s<span class=\"_ _1\"></span>ignificativo <span class=\"_ _12\"> </span>nel <span class=\"_ _27\"> </span>bilanci<span class=\"_ _1\"></span>o <span class=\"_ _27\"> </span>c<span class=\"_ _1\"></span>onsolidato <span class=\"_ _12\"> </span>del <span class=\"_ _27\"> </span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _12\"> </span>dall\u2019adozione <span class=\"_ _12\"> </span>di <span class=\"_ _27\"> </span>tale<span class=\"_ _26a\"> </span>emendamento.<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>In data 30 g<span class=\"_ _1\"></span>ennaio 2014 <span class=\"_ _1\"></span>lo IASB ha pu<span class=\"_ _1\"></span>bblicato il pri<span class=\"_ _1\"></span>ncipio <span class=\"_ _1\"></span><span class=\"ffd\">IFR<span class=\"_ _1\"></span>S 14 <span class=\"ff11\">\u2013</span> R<span class=\"_ _1\"></span>egulatory <span class=\"_ _1\"></span>Deferral Accounts<span class=\"_ _1\"></span></span> </span>che consente solo a coloro che adottano gli IFRS per l<span class=\"_ _1\"></span>a prima volta di continuare a rilevare gli importi<span class=\"_ _1\"></span> relativi alle <span class=\"_ _3\"></span>attivit\u00e0 soggette a tariffe regolamentate (\u201c<span class=\"ff7\">Rate Regulation<span class=\"ff2\"> </span>Activities<span class=\"_ _1\"></span></span>\u201d) secondo <span class=\"_ _3\"></span>i precedenti<span class=\"_ _26a\"> </span>principi <span class=\"_ _1e\"> </span>contab<span class=\"_ _1\"></span>ili <span class=\"_ _1e\"> </span>adottati. <span class=\"_ _1e\"> </span>Non <span class=\"_ _1f\"> </span>essendo <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _21\"> </span>u<span class=\"_ _1\"></span>n  <span class=\"ff7\">first-time <span class=\"_ _21\"> </span>ado<span class=\"_ _1\"></span>pter</span>, <span class=\"_ _1e\"> </span>tale <span class=\"_ _1e\"> </span>pr<span class=\"_ _1\"></span>incipio <span class=\"_ _1e\"> </span>non <span class=\"_ _1e\"> </span>risulta<span class=\"_ _1\"></span> applicabile.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-319": {
   "value": "3. Gestione del capitale<span class=\"_ _1\"></span> Nella gestione de<span class=\"_ _1\"></span>l capitale, gli obiettivi del<span class=\"_ _1\"></span> Gruppo sono:<span class=\"_ _8\"></span> a)<span class=\"ls1\">  <span class=\"ff5\">la salvaguardia della capacit\u00e0 di conti<span class=\"_ _1\"></span>nuare ad operare<span class=\"_ _1\"></span> come un\u2019en<span class=\"_ _1\"></span></span>t<span class=\"_ _1\"></span>it\u00e0 in funzionamento;<span class=\"_ _1\"></span> </span>b)<span class=\"ls1\">  fornire un ritorno adeguato agli Az<span class=\"_ _1\"></span>ionisti.<span class=\"_ _26a\"> </span></span>Il <span class=\"_ _2\"></span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _3\"></span>gestisce <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>struttur<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>del capitale <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>prop<span class=\"_ _1\"></span>orzione <span class=\"_ _3\"></span>al <span class=\"_ _3\"></span>rischio. <span class=\"_ _3\"></span>Al <span class=\"_ _3\"></span>fine <span class=\"_ _3\"></span>di ma<span class=\"_ _3\"></span>nte<span class=\"_ _1\"></span>nere <span class=\"_ _3\"></span>o <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>ettificare l<span class=\"_ _3\"></span>a <span class=\"_ _3\"></span>struttura<span class=\"_ _1\"></span> del <span class=\"_ _2\"></span>capitale, <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>Gruppo <span class=\"_ _2\"></span>pu\u00f2<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>v<span class=\"_ _1\"></span>ariare <span class=\"_ _2\"></span>l\u2019import<span class=\"_ _1\"></span>o <span class=\"_ _2\"></span>dei <span class=\"_ _2\"></span>dividendi<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>pa<span class=\"_ _1\"></span>gati <span class=\"_ _2\"></span>agli <span class=\"_ _2\"></span>Azionisti,<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>ac<span class=\"_ _1\"></span>quistare <span class=\"_ _2\"></span>az<span class=\"_ _1\"></span>ioni <span class=\"_ _2\"></span>proprie, <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>ritorno<span class=\"_ _26a\"> </span>sul capitale ag<span class=\"ff5\">l<span class=\"_ _1\"></span>i Azionisti, l\u2019emissio<span class=\"_ _1\"></span>ne di nuove azioni,<span class=\"_ _1\"></span> o la vendita de<span class=\"_ _1\"></span>lle attivit\u00e0 per ridurre l\u2019inde<span class=\"_ _1\"></span>bitamento. <span class=\"_ _8\"></span></span> Il <span class=\"_ _20\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"> </span>corso <span class=\"_ _23\"> </span>degli <span class=\"_ _23\"> </span>ultimi <span class=\"_ _23\"> </span>anni, <span class=\"_ _23\"> </span>ad <span class=\"_ _23\"> </span>eccezion<span class=\"_ _1\"></span>e <span class=\"_ _23\"> </span>dell\u2019esercizio <span class=\"_ _23\"> </span>2020 <span class=\"_ _23\"> </span>nel <span class=\"_ _23\"> </span>quale <span class=\"_ _23\"> </span>non <span class=\"_ _23\"> </span>sono <span class=\"_ _23\"> </span>stati <span class=\"_ _23\"> </span>distribuiti<span class=\"_ _26a\"> </span>dividendi per <span class=\"_ _3\"></span>effetto della <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>andemia Covid <span class=\"_ _3\"></span>19, <span class=\"ff5\">ha adottato <span class=\"_ _3\"></span>una politica <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i \u201c<span class=\"ff7\">dividend pay <span class=\"_ _3\"></span>out<span class=\"ff5\">\u201d per <span class=\"_ _3\"></span>un <span class=\"_ _3\"></span>ammo<span class=\"_ _1\"></span>ntare<span class=\"_ _26a\"> </span></span></span></span>pari a circa il 40% del<span class=\"_ _1\"></span>l\u2019Utile netto di pert<span class=\"_ _1\"></span>inenza del Gruppo del<span class=\"_ _1\"></span> bilancio consolidat<span class=\"_ _1\"></span>o. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Il <span class=\"_ _8\"></span>Gr<span class=\"_ _1\"></span>uppo <span class=\"_ _11\"></span>effettua <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>monitoraggio <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>capitale <span class=\"_ _11\"></span>sulla <span class=\"_ _11\"></span>base <span class=\"_ _11\"></span>del <span class=\"_ _8\"></span>ra<span class=\"_ _1\"></span>pporto <span class=\"_ _11\"></span>tra <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>posizione <span class=\"_ _11\"></span>finanziaria <span class=\"_ _23\"> </span>netta <span class=\"_ _11\"></span>ed <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>patrimonio netto e tr<span class=\"_ _1\"></span>a la posizione finanziaria<span class=\"_ _1\"></span> netta e l\u2019<span class=\"_ _1\"></span>Ebitda.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>La strategia del Grup<span class=\"_ _1\"></span>po \u00e8 di mantenere <span class=\"_ _1\"></span>il rapporto Posi<span class=\"_ _1\"></span>zione Finanziaria Netta (\u201c<span class=\"_ _1\"></span>Pfn\u201d)/Patri<span class=\"_ _1\"></span>monio Netto ad un<span class=\"_ _1\"></span> valore <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>superiore<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>1 <span class=\"_ _3\"></span>ed <span class=\"_ _2\"></span>un <span class=\"_ _2\"></span>valore, <span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>el <span class=\"_ _2\"></span>lungo <span class=\"_ _2\"></span>termi<span class=\"_ _1\"></span>ne, <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>su<span class=\"_ _1\"></span>peri<span class=\"_ _1\"></span>ore <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>3 <span class=\"_ _3\"></span>per <span class=\"_ _2\"></span>il <span class=\"_ _2\"></span>rapporto <span class=\"_ _3\"></span>Posizione <span class=\"_ _2\"></span>Finanziar<span class=\"_ _1\"></span>ia<span class=\"_ _26a\"> </span>Netta/Ebitda (considerando gli <span class=\"_ _3\"></span>indicatori al ne<span class=\"_ _3\"></span>tto degli <span class=\"_ _3\"></span>effetti dell\u2019applicazione dell\u2019IFRS 16), <span class=\"_ _3\"></span>al fine <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i garantire<span class=\"_ _26a\"> </span>l\u2019accesso <span class=\"_ _8\"></span>ai <span class=\"_ _8\"></span>f<span class=\"_ _1\"></span>inanziamenti <span class=\"_ _11\"></span>ad <span class=\"_ _8\"></span>un <span class=\"_ _8\"></span>cos<span class=\"_ _1\"></span>to <span class=\"_ _8\"></span>limitato <span class=\"_ _11\"></span>mantenendo <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>elevato <span class=\"_ _8\"></span>merito <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>credito. <span class=\"_ _8\"></span>Qu<span class=\"_ _8\"></span><span class=\"ff2\">esto <span class=\"_ _11\"></span>obiettivo <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span>indebitamento <span class=\"_ _1\"></span>potre<span class=\"_ _1\"></span>bbe <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>sere <span class=\"_ _1\"></span>rivisto <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>caso <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>variazione <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>situazio<span class=\"_ _1\"></span>ne <span class=\"_ _1\"></span>mac<span class=\"_ _1\"></span>roeconomica <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>erogato <span class=\"_ _8\"></span>in<span class=\"_ _26a\"> </span>ipotesi <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>operazioni <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Merger <span class=\"_ _21\"> </span>&amp; <span class=\"_ _23\"> </span>Acqu<span class=\"_ _1\"></span>isition</span>\u201d. <span class=\"_ _23\"> </span>C<span class=\"_ _1\"></span>onsidera<span class=\"_ _1\"></span>ndo <span class=\"_ _23\"> </span>la <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>tagionalit\u00e0 <span class=\"_ _21\"> </span>del <span class=\"_ _21\"> </span>business, <span class=\"_ _21\"> </span>questo <span class=\"_ _23\"> </span>rat<span class=\"_ _1\"></span>io <span class=\"_ _23\"> </span>\u00e8<span class=\"_ _26a\"> </span>soggetto a variazioni<span class=\"_ _1\"></span> du<span class=\"ff5\">ran<span class=\"_ _1\"></span>te l\u2019anno.</span> I <span class=\"_ _9\"></span>r<span class=\"_ _1\"></span>apporti <span class=\"_ _2\"></span>\u201c<span class=\"ff6\">Pfn\u201d/\u201cPatr<span class=\"_ _1\"></span>imonio <span class=\"_ _2\"></span>Netto<span class=\"_ _1\"></span><span class=\"ff5\">\u201d <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>\u201c<span class=\"ff6\">Pfn\u201d/\u201cEbitd<span class=\"_ _1\"></span>a <span class=\"_ _9\"></span>p<span class=\"_ _1\"></span>rima <span class=\"_ _2\"></span>degli <span class=\"_ _2\"></span>one<span class=\"_ _1\"></span>ri/proventi <span class=\"_ _2\"></span>non <span class=\"_ _2\"></span>ordinari<span class=\"_ _8\"></span><span class=\"ff5\">\u201d <span class=\"_ _9\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _26a\"> </span></span></span></span></span>2022 e al 31 dicem<span class=\"_ _1\"></span>bre 2021 sono i seg<span class=\"_ _1\"></span>uenti:<span class=\"_ _1\"></span> (1)<span class=\"ls1\"> <span class=\"_ _149\"> </span><span class=\"ff5\">Per mag<span class=\"_ _1\"></span>giori dettagli si rim<span class=\"_ _1\"></span>anda al para<span class=\"_ _1\"></span>grafo \u201cdefinizi<span class=\"_ _1\"></span>oni degli in<span class=\"_ _1\"></span>dicatori alterna<span class=\"_ _1\"></span>tivi di perform<span class=\"_ _1\"></span>ance\u201d nella Rel<span class=\"_ _1\"></span>azione sulla Ge<span class=\"_ _1\"></span>stione.<span class=\"_ _1\"></span></span> </span>(2)<span class=\"ls1\"> <span class=\"_ _149\"> </span><span class=\"ff5\">I dati \u201cSEN<span class=\"_ _1\"></span>ZA IFRS16\u201d son<span class=\"_ _1\"></span>o al netto dell\u2019applic<span class=\"_ _1\"></span>azione del pri<span class=\"_ _1\"></span>ncipio IFRS 16 <span class=\"_ _1\"></span>e del relativo impa<span class=\"_ _1\"></span>tto sulle grandez<span class=\"_ _1\"></span>ze economico<span class=\"_ _1\"></span></span>-<span class=\"_ _1\"></span>finanziarie.<span class=\"_ _1\"></span> </span>\u20ac/0<span class=\"_ _3\"></span>00<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _26a\"> </span>SE<span class=\"_ _3\"></span>NZ<span class=\"_ _9\"></span>A<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>FR<span class=\"_ _3\"></span>S1<span class=\"_ _3\"></span>6 <span class=\"fs23\">(2<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>21<span class=\"_ _2\"></span> SE<span class=\"_ _3\"></span>NZ<span class=\"_ _9\"></span>A<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>I<span class=\"_ _3\"></span>FR<span class=\"_ _3\"></span>S1<span class=\"_ _3\"></span>6 <span class=\"fs23\">(2<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span></span>Po<span class=\"_ _2\"></span>sizio<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span> fi<span class=\"_ _1\"></span>na<span class=\"_ _2\"></span>nzia<span class=\"_ _3\"></span>ria ne<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a p<span class=\"_ _3\"></span>as<span class=\"_ _2\"></span>siv<span class=\"_ _2\"></span>a (Pfn) (no<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>a 9<span class=\"_ _3\"></span>) <span class=\"_ _180\"> </span>17<span class=\"_ _2\"></span>7.30<span class=\"_ _3\"></span>5<span class=\"_ _d9\"> </span>139<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>26<span class=\"_ _2\"></span>6<span class=\"_ _128\"> </span>14<span class=\"_ _3\"></span>4.2<span class=\"_ _3\"></span>69<span class=\"_ _d4\"> </span>10<span class=\"_ _3\"></span>5.2<span class=\"_ _3\"></span>95<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _2\"></span>e pa<span class=\"_ _3\"></span>t<span class=\"_ _3\"></span>rim<span class=\"_ _3\"></span>on<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>o n<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>(PN<span class=\"_ _2\"></span>)<span class=\"_ _181\"> </span>27<span class=\"_ _2\"></span>6.98<span class=\"_ _3\"></span>7<span class=\"_ _d9\"> </span>278<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>41<span class=\"_ _2\"></span>6<span class=\"_ _128\"> </span>25<span class=\"_ _3\"></span>5.9<span class=\"_ _3\"></span>33<span class=\"_ _d4\"> </span>25<span class=\"_ _3\"></span>7.1<span class=\"_ _3\"></span>23<span class=\"_ _26a\"> </span>Eb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span> prim<span class=\"_ _2\"></span>a de<span class=\"_ _3\"></span>gl<span class=\"_ _2\"></span>i <span class=\"_ _1\"></span>on<span class=\"_ _2\"></span>eri/<span class=\"_ _1\"></span>pro<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>en<span class=\"_ _2\"></span>ti no<span class=\"_ _3\"></span>n o<span class=\"_ _3\"></span>rdina<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span><span class=\"fs23\">(1<span class=\"_ _3\"></span>)<span class=\"_ _182\"> </span><span class=\"fs22\">76<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>64<span class=\"_ _2\"></span>4<span class=\"_ _d0\"> </span>69.2<span class=\"_ _3\"></span>13<span class=\"_ _62\"> </span>77<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>43<span class=\"_ _3\"></span>6<span class=\"_ _183\"> </span>70<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>76<span class=\"_ _2\"></span>8<span class=\"_ _26a\"> </span></span></span>Ra<span class=\"_ _3\"></span>pp<span class=\"_ _2\"></span>ort<span class=\"_ _1\"></span>o Pf<span class=\"_ _2\"></span>n/PN<span class=\"_ _26a\"> </span>0,6<span class=\"_ _3\"></span>4<span class=\"_ _131\"> </span>0<span class=\"_ _3\"></span>,50<span class=\"_ _131\"> </span>0<span class=\"_ _3\"></span>,56<span class=\"_ _16e\"> </span>0,41<span class=\"_ _26a\"> </span>Ra<span class=\"_ _3\"></span>pp<span class=\"_ _2\"></span>ort<span class=\"_ _1\"></span>o Pf<span class=\"_ _2\"></span>n/Eb<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>tda<span class=\"_ _3\"></span> prim<span class=\"_ _2\"></span>a<span class=\"_ _3\"></span> deg<span class=\"_ _2\"></span>li<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>eri<span class=\"_ _2\"></span>/<span class=\"_ _1\"></span>prov<span class=\"_ _3\"></span>en<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span> non<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ordi<span class=\"_ _2\"></span>na<span class=\"_ _3\"></span>ri<span class=\"_ _26a\"> </span>2,3<span class=\"_ _3\"></span>1<span class=\"_ _131\"> </span>2<span class=\"_ _3\"></span>,01<span class=\"_ _131\"> </span>1<span class=\"_ _3\"></span>,86<span class=\"_ _16e\"> </span>1,49<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-320": {
   "value": "4. Gestione del rischio finanziario 4.1 Fattori di rischio di tipo finanziario  L\u2019attivit\u00e0 del Gruppo \u00e8 esposta ad una variet\u00e0 di rischi finanziari connessi alla sua operativit\u00e0:  -  rischi di mercato, con particolare riguardo ai tassi di cambio, tassi di interesse e dei prezzi di mercato, in quanto il Gruppo opera a livello internazionale in aree valutarie diverse e utilizza strumenti finanziari che generano interessi; -  rischio di credito, in relazione sia ai normali rapporti commerciali, che alle attivit\u00e0 di finanziamento; -  rischio di liquidit\u00e0, con particolare riferimento alla disponibilit\u00e0 di risorse finanziarie e all\u2019accesso al mercato del credito. Il  programma  di  controllo  e  gestione  dei  rischi  finanziari  del  Gruppo  focalizza  la  propria  attenzione sull\u2019imprevedibilit\u00e0 dei mercati finanziari e ha l\u2019obiettivo di minimizzare i potenziali effetti negativi sui risultati finanziari. Il Gruppo utilizza strumenti finanziari derivati a copertura di alcuni rischi. La  copertura  dei  rischi  finanziari  del  Gruppo  \u00e8  gestita  da  una  funzione  centrale  della  Capogruppo  in coordinamento con le singole unit\u00e0 operative. Vengono di seguito fornite indicazioni qualitative e  quantitative di riferimento sull\u2019incidenza  di tali rischi sul Gruppo Emak. I dati quantitativi di seguito riportati non hanno valenza previsionale, in particolare le analisi di sensitivit\u00e0 sui rischi di mercato non possono riflettere la complessit\u00e0 e le reazioni correlate dei mercati che possono derivare da ogni cambiamento ipotizzato. (a) Rischio di mercato (i) Rischio dei tassi di interesse Il rischio dei tassi di interesse del Gruppo deriva dai finanziamenti ottenuti a lungo termine. I finanziamenti erogati a tasso variabile espongono il Gruppo al rischio sui flussi di cassa attribuibile ai tassi di interesse. I finanziamenti erogati a tasso fisso espongono il Gruppo al rischio sul fair value attribuibile ai tassi di interesse. La politica del Gruppo si basa su una costante valutazione del livello di indebitamento finanziario e della sua struttura;  sull\u2019andamento  dei  tassi  di  interesse  e  delle variabili  macroeconomiche che  possono  esercitare un\u2019influenza diretta sugli stessi, con l\u2019obiettivo di cogliere le migliori opportunit\u00e0 di ottimizzazione del costo del denaro. Al 31 dicembre 2022, i finanziamenti sono, per la maggior parte, a tassi variabili e, conseguentemente, il Gruppo ha posto in essere operazioni di copertura volte a contenerne gli effetti. Sebbene tali operazioni siano stipulate con finalit\u00e0 di copertura, qualora non sia formalizzata una specifica documentazione attestante la relazione di copertura, i principi contabili non ne permettono il trattamento in hedge accounting. Pertanto la variabilit\u00e0 dei valori sottostanti pu\u00f2 incidere sui risultati economici della societ\u00e0. Analisi di sensitivit\u00e0 Gli effetti derivanti dalla variazione dei tassi di interesse vengono analizzati per il loro potenziale impatto in termini di flussi di cassa, in quanto il Gruppo dispone quasi esclusivamente di attivit\u00e0 e passivit\u00e0 finanziarie a tasso variabile. Un\u2019ipotetica,  istantanea  e  sfavorevole  variazione  negativa  di  50  punti  base  dei  tassi  di  interesse  annuali applicabili  alle  passivit\u00e0  finanziarie  a  tasso  variabile  in  essere  al  31  dicembre  2022  comporterebbe  un maggiore onere netto, su base annua, di circa 757 migliaia di Euro (518 migliaia di Euro al 31 dicembre 2021). Ai  fini  del  calcolo  si  sono  considerati  i  finanziamenti  passivi  al  netto  delle  operazioni  di  copertura  tasso effettuate, dei debiti per acquisto di quote di minoranza di partecipazioni e dei finanziamenti a tasso fisso.  (ii) Rischio di cambio Il Gruppo svolge la propria attivit\u00e0 in campo internazionale ed \u00e8 esposto al rischio di cambio derivante dalle valute utilizzate che possono influire sul risultato economico e sul valore del patrimonio netto. I saldi netti a cui il Gruppo \u00e8 esposto al rischio cambio in quanto la valuta non \u00e8 quella di funzionamento locale delle societ\u00e0 del Gruppo sono i seguenti al 31 dicembre 2022: Posizione creditoria in Dollari Statunitensi    15.918 migliaia Posizione creditoria in Pesos messicano    14.599 migliaia Posizione creditoria in Zloty          6.227 migliaia Posizione creditoria in Sterlina Britannica         587 migliaia Posizione debitoria in Renminbi     127.104 migliaia Posizione debitoria in Euro         19.791 migliaia Posizione debitoria in Yen         23.611 migliaia Posizione debitoria in Franchi Svizzeri           87 migliaia In particolare: \u2022  nei  casi  in  cui  le  societ\u00e0  del  Gruppo  sostengono  costi  denominati  in  valute  diverse  da  quelle  di denominazione dei rispettivi ricavi, la fluttuazione dei tassi di cambio pu\u00f2 influenzare il risultato operativo di tali societ\u00e0. Nell\u2019esercizio 2022 l\u2019ammontare complessivo dei ricavi direttamente esposti al rischio di cambio \u00e8 stato equivalente al 7,6% del fatturato aggregato del Gruppo (8,1% nell\u2019esercizio 2021), mentre l\u2019ammontare dei costi esposti al rischio di cambio \u00e8 pari al 20% del fatturato aggregato del Gruppo (22,7% nell\u2019esercizio 2021). I principali rapporti di cambio a cui il Gruppo \u00e8 esposto riguardano: - EUR/USD, in relazione alle vendite e agli acquisti in dollari effettuate sul mercato nordamericano e su altri mercati in cui il dollaro sia valuta di riferimento per gli scambi commerciali e alle produzioni/acquisti in area Euro; - EUR/GBP, essenzialmente in relazione alle vendite sul mercato UK; - EUR/RMB e USD/RMB in relazione alle attivit\u00e0 produttive cinesi e ai relativi flussi import/export; - EUR/YEN, relativamente agli acquisti sul mercato giapponese; - EUR/PLN, relativamente alle vendite sul mercato polacco; - EUR/UAH e USD/UAH, relativamente alle vendite sul mercato ucraino; - USD/REAL, RMB/REAL e EUR/REAL, relativamente alle vendite sul mercato brasiliano; - EUR/ZAR, relativamente agli acquisti sul mercato sudafricano; - EUR/MXR relativamente alle vendite sul mercato messicano; - USD/SEK e EUR/SEK, relativamente agli acquisti e alle vendite sul mercato svedese. Con altre valute non sono in essere flussi commerciali rilevanti. \u00c8 politica del Gruppo coprire, in parte, i flussi netti di valuta, tipicamente mediante utilizzo di contratti a termine  e  opzioni,  valutando  a  seconda  delle  condizioni  di  mercato  e  di  esposizione  netta  futura l\u2019ammontare  e  le  scadenze,  con  l\u2019obiettivo  di  minimizzare  l\u2019impatto  di  eventuali  variazioni  dei  tassi  di cambio futuri. \u2022  In relazione alle attivit\u00e0 commerciali, le societ\u00e0 del Gruppo possono detenere crediti o debiti commerciali denominati in valute diverse da quella di conto dell\u2019entit\u00e0 che li detiene e la variazione dei tassi di cambio pu\u00f2 determinare la realizzazione o l\u2019accertamento di differenze di cambio. \u2022  Alcune societ\u00e0 controllate del Gruppo sono localizzate in Paesi non appartenenti all\u2019Unione Monetaria Europea, in particolare Stati Uniti, Regno Unito, Polonia, Svezia, Cina, Ucraina, Sud Africa, Marocco, Messico, Brasile e Cile. Poich\u00e9 la valuta di riferimento per il Gruppo \u00e8 l\u2019Euro, i conti economici di tali societ\u00e0 sono convertiti in Euro al cambio medio di periodo e, a parit\u00e0 di ricavi e di margini in valuta locale, variazioni dei tassi di cambio possono comportare effetti sul controvalore in Euro di ricavi, costi e risultati economici. \u2022  Attivit\u00e0 e passivit\u00e0 delle societ\u00e0 controllate del Gruppo la cui valuta di conto \u00e8 diversa dall\u2019Euro possono assumere controvalori in Euro diversi a seconda dell\u2019andamento dei tassi di cambio. Come previsto dai principi contabili  adottati, gli effetti  di  tali  variazioni sono  rilevati nel conto  economico  complessivo  e evidenziati nel patrimonio netto, nella voce Riserva per differenze di conversione (si veda Nota 28).   Alla data di bilancio non vi erano coperture in essere a fronte di tali esposizioni per rischio di cambio da conversione. Analisi di sensitivit\u00e0 La  perdita  potenziale  di  fair  value  del  saldo  netto  di  attivit\u00e0  e  passivit\u00e0  finanziarie  soggette  a  rischio  di variazione  dei  tassi  di  cambio  detenuti  dal  Gruppo  al  31  dicembre  2022,  in  conseguenza  di  un\u2019ipotetica variazione sfavorevole ed immediata del 10% di tutti i singoli tassi di cambio delle valute funzionali con quelle estere, sarebbe pari a circa 1.988 migliaia di Euro (518 migliaia di Euro al 31 dicembre 2021). Altri rischi su strumenti finanziari derivati Come descritto nella Nota 23, il Gruppo detiene alcuni strumenti finanziari derivati di copertura su cambi il cui valore \u00e8 collegato all\u2019andamento dei tassi di cambio (operazioni di acquisto a termine di valuta e opzioni) e all\u2019andamento dei tassi di interesse. Sebbene tali operazioni siano stipulate con finalit\u00e0 di copertura, qualora non sia formalizzata una specifica documentazione attestante la relazione di copertura, i principi contabili non ne permettono il trattamento in hedge accounting. Pertanto, la variabilit\u00e0 dei valori sottostanti pu\u00f2 incidere sui risultati economici del Gruppo. Analisi di sensitivit\u00e0 La perdita potenziale di fair value degli strumenti finanziari derivati in cambi in essere al 31 dicembre 2022, in conseguenza di un\u2019ipotetica istantanea e sfavorevole variazione del 10% nei valori sottostanti, sarebbe pari a circa 1.295 migliaia di Euro (335 migliaia di Euro al 31 dicembre 2021). (iii) Rischio di prezzo Il Gruppo \u00e8 esposto alla fluttuazione del prezzo delle materie prime. L\u2019esposizione \u00e8 prevalente verso fornitori di componenti essendo i prezzi di questi ultimi influenzati dall\u2019andamento del mercato delle materie prime. Le materie prime di maggiore utilizzo si riferiscono ad alluminio, lamiera, ottone, leghe metalliche, plastica, rame nonch\u00e9 di semilavorati quali i motori. L\u2019aumento dei prezzi delle materie prime \u00e8 connesso a fenomeni macroeconomici, trainati dall\u2019aumento dei costi  energetici  e  dei  beni  di  prima  necessit\u00e0,  nonch\u00e9  le  tensioni  che  caratterizzano  la  catena  di approvvigionamento del Gruppo. L\u2019aumento dei costi di trasporto e distribuzione impatta sui costi operativi del Gruppo, con potenziale riduzione della redditivit\u00e0, eventuale emersione di indicatori di impairment e riduzione del valore netto di realizzo delle attivit\u00e0. Il rischio viene parzialmente mitigato mediante la stipulazione di accordi di acquisto con i principali fornitori con  prezzi  bloccati  con  orizzonti  temporali  a  breve  termine  a  cui  si  aggiunge  un  monitoraggio  costante dell\u2019andamento dei costi delle materie prime e della logistica. Il Gruppo si avvale di politiche per adeguare il prezzo dei beni venduti in caso di variazioni significative dei costi. (b) Rischio di credito Il Gruppo al fine di far fronte al rischio di credito ha posto in essere politiche che assicurano che le vendite dei prodotti siano effettuate a clienti con una solvibilit\u00e0 accertata e alcune categorie di credito sono oggetto di copertura del rischio tramite primarie compagnie di assicurazione. La massima esposizione teorica al rischio di credito per il Gruppo al 31 dicembre 2022 \u00e8 rappresentata dal valore contabile delle attivit\u00e0 finanziarie rappresentate in bilancio.  L\u2019erogazione dei crediti alla clientela \u00e8 oggetto di specifiche valutazioni sulla loro solvibilit\u00e0 e generalmente il Gruppo ottiene delle garanzie finanziarie e non finanziarie a fronte dei crediti concessi per forniture di prodotti destinate in alcuni paesi. Sono  oggetto  di  costante  analisi  e  di  eventuale  svalutazione  individuale  le  posizioni,  se  singolarmente significative, per le quali si rileva un\u2019oggettiva condizione di inesigibilit\u00e0 parziale o totale.  L\u2019ammontare della svalutazione \u00e8 stimato sulla base dei flussi recuperabili, della relativa data di incasso, degli oneri e spese di recupero futuri, nonch\u00e9 delle eventuali garanzie in essere. A fronte di crediti che non sono oggetto di svalutazione individuale vengono accantonati fondi svalutazione su base collettiva, tenuto conto dell\u2019esperienza storica e di dati statistici. Al 31 dicembre 2022 i Crediti commerciali, pari a 118.470 migliaia di Euro (126.369 migliaia di Euro al 31 dicembre 2021), includono 12.747 migliaia di Euro (9.544 migliaia di Euro al 31 dicembre 2021) scaduti da pi\u00f9 di 3 mesi. Tale valore risulta essere parzialmente riscadenzato mediante piani di rientro concordati con i clienti.  Il valore dei crediti coperti da assicurazione o da altre garanzie al 31 dicembre 2022 \u00e8 pari a 28.775 migliaia di Euro (32.109 migliaia di Euro al 31 dicembre 2021). Al 31 dicembre 2022 i primi 10 clienti rappresentano il 12,8% del totale dei crediti commerciali (11,9% al 31 dicembre 2021), mentre il primo cliente rappresenta il 4,6% del totale (2,4% al 31 dicembre 2021). (c) Rischio di liquidit\u00e0 Il  rischio  di  liquidit\u00e0  si  pu\u00f2  manifestare  con  l\u2019incapacit\u00e0  di  reperire,  a  condizioni  economiche,  le  risorse finanziarie necessarie per l\u2019operativit\u00e0 del Gruppo. I principali fattori che determinano la situazione di liquidit\u00e0 del Gruppo sono da una parte le risorse generate o assorbite dalle attivit\u00e0 operative e di investimento, dall\u2019altra le caratteristiche di scadenza e di rinnovo del debito o di liquidit\u00e0 degli impieghi finanziari e le condizioni di mercato. Una prudente gestione del rischio di liquidit\u00e0 implica il mantenimento di una sufficiente disponibilit\u00e0 finanziaria di liquidit\u00e0 e titoli negoziabili, di finanziamenti attraverso un adeguato ammontare di fidi bancari.  Conseguentemente la tesoreria del Gruppo pone in essere le seguenti attivit\u00e0: - verifica dei fabbisogni finanziari previsionali al fine di porre in essere le azioni conseguenti; - ottenimento di adeguate linee di credito; - ottimizzazione della liquidit\u00e0, dove fattibile, tramite strutture di gestione centralizzata dei flussi finanziari del Gruppo; - mantenimento di un adeguato livello di liquidit\u00e0 disponibile; - mantenimento di un\u2019equilibrata composizione dell\u2019indebitamento finanziario netto rispetto agli investimenti effettuati; - perseguimento di un corretto equilibrio tra indebitamento a breve e medio lungo termine; - limitata esposizione al credito verso un singolo istituto finanziario; - il monitoraggio del rispetto dei parametri previsti dai covenants relativi ai finanziamenti.  Le controparti di contratti  derivati  e delle operazioni eseguite sulle disponibilit\u00e0  sono istituzioni finanziarie qualificate. Le caratteristiche di natura e scadenza dei debiti e delle attivit\u00e0 finanziarie del Gruppo sono riportate nelle Note 26 e 30 relative rispettivamente alle Disponibilit\u00e0 liquide ed alle Passivit\u00e0 finanziarie. Il Management ritiene che le linee di credito attualmente non utilizzate pari a 163 milioni di Euro contro i 142 milioni di Euro dell\u2019esercizio precedente, principalmente a breve termine e garantite dai Crediti Commerciali, oltre  ai  flussi  di  cassa  che  saranno  generati  dall\u2019attivit\u00e0  di  esercizio  e  di  finanziamento,  consentiranno  al Gruppo di soddisfare i fabbisogni derivanti dalle attivit\u00e0 di investimento, di gestione del capitale circolante e di rimborso dei debiti alla loro naturale scadenza.  4.3 Stima del valore corrente Il valore corrente degli strumenti finanziari quotati in mercati attivi (come i derivati negoziati pubblicamente e i titoli destinati alla negoziazione e disponibili per la vendita) \u00e8 basato sul prezzo di mercato alla data di bilancio. Il prezzo di mercato utilizzato per le attivit\u00e0 finanziarie detenute dal Gruppo \u00e8 il prezzo denaro; il prezzo di mercato per le passivit\u00e0 finanziarie \u00e8 il prezzo lettera. Il valore corrente degli strumenti finanziari non quotati in un mercato attivo (per esempio, i derivati quotati fuori borsa) \u00e8 determinato utilizzando tecniche di valutazione. Il Gruppo utilizza diversi metodi e formula ipotesi che sono basate sulle condizioni di mercato esistenti alla data di bilancio. Per i debiti a medio-lungo termine sono utilizzate le quotazioni di mercato o i prezzi di negoziazione per gli strumenti specifici o similari. Altre tecniche, come ad esempio la stima del valore attuale dei futuri flussi di cassa, sono utilizzate per determinare il valore corrente degli altri strumenti finanziari. Il valore corrente dei contratti a termine in valuta estera \u00e8 determinato utilizzando i tassi di cambio a termine previsti alla data di bilancio. Si ipotizza che il valore nominale, meno una stima dei crediti dubbi, approssimi il valore corrente dei crediti e dei debiti commerciali. Ai fini delle presenti note, il valore corrente delle passivit\u00e0 finanziarie \u00e8 stimato in base all\u2019attualizzazione dei futuri flussi di cassa contrattuali al tasso di interesse di mercato corrente disponibile per il Gruppo per strumenti finanziari simili. ",
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  "fact-382": {
   "value": "(a) Rischio di mercato (i) Rischio dei tassi di interesse Il rischio dei tassi di interesse del Gruppo deriva dai finanziamenti ottenuti a lungo termine. I finanziamenti erogati a tasso variabile espongono il Gruppo al rischio sui flussi di cassa attribuibile ai tassi di interesse. I finanziamenti erogati a tasso fisso espongono il Gruppo al rischio sul fair value attribuibile ai tassi di interesse. La politica del Gruppo si basa su una costante valutazione del livello di indebitamento finanziario e della sua struttura;  sull\u2019andamento  dei  tassi  di  interesse  e  delle variabili  macroeconomiche che  possono  esercitare un\u2019influenza diretta sugli stessi, con l\u2019obiettivo di cogliere le migliori opportunit\u00e0 di ottimizzazione del costo del denaro. Al 31 dicembre 2022, i finanziamenti sono, per la maggior parte, a tassi variabili e, conseguentemente, il Gruppo ha posto in essere operazioni di copertura volte a contenerne gli effetti. Sebbene tali operazioni siano stipulate con finalit\u00e0 di copertura, qualora non sia formalizzata una specifica documentazione attestante la relazione di copertura, i principi contabili non ne permettono il trattamento in hedge accounting. Pertanto la variabilit\u00e0 dei valori sottostanti pu\u00f2 incidere sui risultati economici della societ\u00e0. Analisi di sensitivit\u00e0 Gli effetti derivanti dalla variazione dei tassi di interesse vengono analizzati per il loro potenziale impatto in termini di flussi di cassa, in quanto il Gruppo dispone quasi esclusivamente di attivit\u00e0 e passivit\u00e0 finanziarie a tasso variabile. Un\u2019ipotetica,  istantanea  e  sfavorevole  variazione  negativa  di  50  punti  base  dei  tassi  di  interesse  annuali applicabili  alle  passivit\u00e0  finanziarie  a  tasso  variabile  in  essere  al  31  dicembre  2022  comporterebbe  un maggiore onere netto, su base annua, di circa 757 migliaia di Euro (518 migliaia di Euro al 31 dicembre 2021). Ai  fini  del  calcolo  si  sono  considerati  i  finanziamenti  passivi  al  netto  delle  operazioni  di  copertura  tasso effettuate, dei debiti per acquisto di quote di minoranza di partecipazioni e dei finanziamenti a tasso fisso.  (ii) Rischio di cambio Il Gruppo svolge la propria attivit\u00e0 in campo internazionale ed \u00e8 esposto al rischio di cambio derivante dalle valute utilizzate che possono influire sul risultato economico e sul valore del patrimonio netto. I saldi netti a cui il Gruppo \u00e8 esposto al rischio cambio in quanto la valuta non \u00e8 quella di funzionamento locale delle societ\u00e0 del Gruppo sono i seguenti al 31 dicembre 2022: Posizione creditoria in Dollari Statunitensi    15.918 migliaia Posizione creditoria in Pesos messicano    14.599 migliaia Posizione creditoria in Zloty          6.227 migliaia Posizione creditoria in Sterlina Britannica         587 migliaia Posizione debitoria in Renminbi     127.104 migliaia Posizione debitoria in Euro         19.791 migliaia Posizione debitoria in Yen         23.611 migliaia Posizione debitoria in Franchi Svizzeri           87 migliaia In particolare: \u2022  nei  casi  in  cui  le  societ\u00e0  del  Gruppo  sostengono  costi  denominati  in  valute  diverse  da  quelle  di denominazione dei rispettivi ricavi, la fluttuazione dei tassi di cambio pu\u00f2 influenzare il risultato operativo di tali societ\u00e0. Nell\u2019esercizio 2022 l\u2019ammontare complessivo dei ricavi direttamente esposti al rischio di cambio \u00e8 stato equivalente al 7,6% del fatturato aggregato del Gruppo (8,1% nell\u2019esercizio 2021), mentre l\u2019ammontare dei costi esposti al rischio di cambio \u00e8 pari al 20% del fatturato aggregato del Gruppo (22,7% nell\u2019esercizio 2021). I principali rapporti di cambio a cui il Gruppo \u00e8 esposto riguardano: - EUR/USD, in relazione alle vendite e agli acquisti in dollari effettuate sul mercato nordamericano e su altri mercati in cui il dollaro sia valuta di riferimento per gli scambi commerciali e alle produzioni/acquisti in area Euro; - EUR/GBP, essenzialmente in relazione alle vendite sul mercato UK; - EUR/RMB e USD/RMB in relazione alle attivit\u00e0 produttive cinesi e ai relativi flussi import/export; - EUR/YEN, relativamente agli acquisti sul mercato giapponese; - EUR/PLN, relativamente alle vendite sul mercato polacco; - EUR/UAH e USD/UAH, relativamente alle vendite sul mercato ucraino; - USD/REAL, RMB/REAL e EUR/REAL, relativamente alle vendite sul mercato brasiliano; - EUR/ZAR, relativamente agli acquisti sul mercato sudafricano; - EUR/MXR relativamente alle vendite sul mercato messicano; - USD/SEK e EUR/SEK, relativamente agli acquisti e alle vendite sul mercato svedese. Con altre valute non sono in essere flussi commerciali rilevanti. \u00c8 politica del Gruppo coprire, in parte, i flussi netti di valuta, tipicamente mediante utilizzo di contratti a termine  e  opzioni,  valutando  a  seconda  delle  condizioni  di  mercato  e  di  esposizione  netta  futura l\u2019ammontare  e  le  scadenze,  con  l\u2019obiettivo  di  minimizzare  l\u2019impatto  di  eventuali  variazioni  dei  tassi  di cambio futuri. \u2022  In relazione alle attivit\u00e0 commerciali, le societ\u00e0 del Gruppo possono detenere crediti o debiti commerciali denominati in valute diverse da quella di conto dell\u2019entit\u00e0 che li detiene e la variazione dei tassi di cambio pu\u00f2 determinare la realizzazione o l\u2019accertamento di differenze di cambio. \u2022  Alcune societ\u00e0 controllate del Gruppo sono localizzate in Paesi non appartenenti all\u2019Unione Monetaria Europea, in particolare Stati Uniti, Regno Unito, Polonia, Svezia, Cina, Ucraina, Sud Africa, Marocco, Messico, Brasile e Cile. Poich\u00e9 la valuta di riferimento per il Gruppo \u00e8 l\u2019Euro, i conti economici di tali societ\u00e0 sono convertiti in Euro al cambio medio di periodo e, a parit\u00e0 di ricavi e di margini in valuta locale, variazioni dei tassi di cambio possono comportare effetti sul controvalore in Euro di ricavi, costi e risultati economici. \u2022  Attivit\u00e0 e passivit\u00e0 delle societ\u00e0 controllate del Gruppo la cui valuta di conto \u00e8 diversa dall\u2019Euro possono assumere controvalori in Euro diversi a seconda dell\u2019andamento dei tassi di cambio. Come previsto dai principi contabili  adottati, gli effetti  di  tali  variazioni sono  rilevati nel conto  economico  complessivo  e evidenziati nel patrimonio netto, nella voce Riserva per differenze di conversione (si veda Nota 28).   Alla data di bilancio non vi erano coperture in essere a fronte di tali esposizioni per rischio di cambio da conversione. Analisi di sensitivit\u00e0 La  perdita  potenziale  di  fair  value  del  saldo  netto  di  attivit\u00e0  e  passivit\u00e0  finanziarie  soggette  a  rischio  di variazione  dei  tassi  di  cambio  detenuti  dal  Gruppo  al  31  dicembre  2022,  in  conseguenza  di  un\u2019ipotetica variazione sfavorevole ed immediata del 10% di tutti i singoli tassi di cambio delle valute funzionali con quelle estere, sarebbe pari a circa 1.988 migliaia di Euro (518 migliaia di Euro al 31 dicembre 2021). Altri rischi su strumenti finanziari derivati Come descritto nella Nota 23, il Gruppo detiene alcuni strumenti finanziari derivati di copertura su cambi il cui valore \u00e8 collegato all\u2019andamento dei tassi di cambio (operazioni di acquisto a termine di valuta e opzioni) e all\u2019andamento dei tassi di interesse. Sebbene tali operazioni siano stipulate con finalit\u00e0 di copertura, qualora non sia formalizzata una specifica documentazione attestante la relazione di copertura, i principi contabili non ne permettono il trattamento in hedge accounting. Pertanto, la variabilit\u00e0 dei valori sottostanti pu\u00f2 incidere sui risultati economici del Gruppo. Analisi di sensitivit\u00e0 La perdita potenziale di fair value degli strumenti finanziari derivati in cambi in essere al 31 dicembre 2022, in conseguenza di un\u2019ipotetica istantanea e sfavorevole variazione del 10% nei valori sottostanti, sarebbe pari a circa 1.295 migliaia di Euro (335 migliaia di Euro al 31 dicembre 2021). (iii) Rischio di prezzo Il Gruppo \u00e8 esposto alla fluttuazione del prezzo delle materie prime. L\u2019esposizione \u00e8 prevalente verso fornitori di componenti essendo i prezzi di questi ultimi influenzati dall\u2019andamento del mercato delle materie prime. Le materie prime di maggiore utilizzo si riferiscono ad alluminio, lamiera, ottone, leghe metalliche, plastica, rame nonch\u00e9 di semilavorati quali i motori. L\u2019aumento dei prezzi delle materie prime \u00e8 connesso a fenomeni macroeconomici, trainati dall\u2019aumento dei costi  energetici  e  dei  beni  di  prima  necessit\u00e0,  nonch\u00e9  le  tensioni  che  caratterizzano  la  catena  di approvvigionamento del Gruppo. L\u2019aumento dei costi di trasporto e distribuzione impatta sui costi operativi del Gruppo, con potenziale riduzione della redditivit\u00e0, eventuale emersione di indicatori di impairment e riduzione del valore netto di realizzo delle attivit\u00e0. Il rischio viene parzialmente mitigato mediante la stipulazione di accordi di acquisto con i principali fornitori con  prezzi  bloccati  con  orizzonti  temporali  a  breve  termine  a  cui  si  aggiunge  un  monitoraggio  costante dell\u2019andamento dei costi delle materie prime e della logistica. Il Gruppo si avvale di politiche per adeguare il prezzo dei beni venduti in caso di variazioni significative dei costi. ",
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  "fact-383": {
   "value": "(b) Rischio di credito Il Gruppo al fine di far fronte al rischio di credito ha posto in essere politiche che assicurano che le vendite dei prodotti siano effettuate a clienti con una solvibilit\u00e0 accertata e alcune categorie di credito sono oggetto di copertura del rischio tramite primarie compagnie di assicurazione. La massima esposizione teorica al rischio di credito per il Gruppo al 31 dicembre 2022 \u00e8 rappresentata dal valore contabile delle attivit\u00e0 finanziarie rappresentate in bilancio.  L\u2019erogazione dei crediti alla clientela \u00e8 oggetto di specifiche valutazioni sulla loro solvibilit\u00e0 e generalmente il Gruppo ottiene delle garanzie finanziarie e non finanziarie a fronte dei crediti concessi per forniture di prodotti destinate in alcuni paesi. Sono  oggetto  di  costante  analisi  e  di  eventuale  svalutazione  individuale  le  posizioni,  se  singolarmente significative, per le quali si rileva un\u2019oggettiva condizione di inesigibilit\u00e0 parziale o totale.  L\u2019ammontare della svalutazione \u00e8 stimato sulla base dei flussi recuperabili, della relativa data di incasso, degli oneri e spese di recupero futuri, nonch\u00e9 delle eventuali garanzie in essere. A fronte di crediti che non sono oggetto di svalutazione individuale vengono accantonati fondi svalutazione su base collettiva, tenuto conto dell\u2019esperienza storica e di dati statistici. Al 31 dicembre 2022 i Crediti commerciali, pari a 118.470 migliaia di Euro (126.369 migliaia di Euro al 31 dicembre 2021), includono 12.747 migliaia di Euro (9.544 migliaia di Euro al 31 dicembre 2021) scaduti da pi\u00f9 di 3 mesi. Tale valore risulta essere parzialmente riscadenzato mediante piani di rientro concordati con i clienti.  Il valore dei crediti coperti da assicurazione o da altre garanzie al 31 dicembre 2022 \u00e8 pari a 28.775 migliaia di Euro (32.109 migliaia di Euro al 31 dicembre 2021). Al 31 dicembre 2022 i primi 10 clienti rappresentano il 12,8% del totale dei crediti commerciali (11,9% al 31  dicembre 2021), mentre il primo cliente rappresenta il 4,6% del totale (2,4% al 31 dicembre 2021). ",
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  },
  "fact-384": {
   "value": "(c) Rischio di liquidit\u00e0 Il  rischio  di  liquidit\u00e0  si  pu\u00f2  manifestare  con  l\u2019incapacit\u00e0  di  reperire,  a  condizioni  economiche,  le  risorse finanziarie necessarie per l\u2019operativit\u00e0 del Gruppo. I principali fattori che determinano la situazione di liquidit\u00e0 del Gruppo sono da una parte le risorse generate o assorbite dalle attivit\u00e0 operative e di investimento, dall\u2019altra le caratteristiche di scadenza e di rinnovo del debito o di liquidit\u00e0 degli impieghi finanziari e le condizioni di mercato. Una prudente gestione del rischio di liquidit\u00e0 implica il mantenimento di una sufficiente disponibilit\u00e0 finanziaria di liquidit\u00e0 e titoli negoziabili, di finanziamenti attraverso un adeguato ammontare di fidi bancari.  Conseguentemente la tesoreria del Gruppo pone in essere le seguenti attivit\u00e0: - verifica dei fabbisogni finanziari previsionali al fine di porre in essere le azioni conseguenti; - ottenimento di adeguate linee di credito; - ottimizzazione della liquidit\u00e0, dove fattibile, tramite strutture di gestione centralizzata dei flussi finanziari del Gruppo; - mantenimento di un adeguato livello di liquidit\u00e0 disponibile; - mantenimento di un\u2019equilibrata composizione dell\u2019indebitamento finanziario netto rispetto agli investimenti effettuati; - perseguimento di un corretto equilibrio tra indebitamento a breve e medio lungo termine; - limitata esposizione al credito verso un singolo istituto finanziario; - il monitoraggio del rispetto dei parametri previsti dai covenants relativi ai finanziamenti.  Le controparti di contratti  derivati  e delle operazioni eseguite sulle disponibilit\u00e0  sono istituzioni finanziarie qualificate. Le caratteristiche di natura e scadenza dei debiti e delle attivit\u00e0 finanziarie del Gruppo sono riportate nelle Note 26 e 30 relative rispettivamente alle Disponibilit\u00e0 liquide ed alle Passivit\u00e0 finanziarie. Il Management ritiene che le linee di credito attualmente non utilizzate pari a 163 milioni di Euro contro i 142 milioni di Euro dell\u2019esercizio precedente, principalmente a breve termine e garantite dai Crediti Commerciali, oltre  ai  flussi  di  cassa  che  saranno  generati  dall\u2019attivit\u00e0  di  esercizio  e  di  finanziamento,  consentiranno  al Gruppo di soddisfare i fabbisogni derivanti dalle attivit\u00e0 di investimento, di gestione del capitale circolante e di rimborso dei debiti alla loro naturale scadenza.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-385": {
   "value": "4.2 Contabilizzazione degli strumenti finanziari derivati e attivit\u00e0 di copertura Gli strumenti finanziari derivati sono utilizzati solamente con l\u2019intento di copertura al fine di ridurre i rischi di fluttuazione delle valute estere e dei tassi di interesse. Coerentemente con la gestione dei rischi prescelta, infatti, il Gruppo non pone in essere operazioni su derivati a scopi speculativi. Nel caso in cui tuttavia tali operazioni non siano contabilmente qualificabili come operazioni di copertura, esse sono registrate  come operazioni di trading.  Coerentemente con quanto  stabilito  dall\u2019 IFRS  9,  gli strumenti finanziari  derivati  possono  essere  contabilizzati  secondo  le  modalit\u00e0  stabilite  per  l\u2019hedge  accounting  solo quando le condizioni previste dal principio sono soddisfatte. Gli strumenti derivati sono inizialmente rilevati al costo e adeguati al fair value alle successive date di chiusura. Sulla base di quanto detto sopra e dei contratti stipulati, i metodi di contabilizzazione adottati sono: 1. Fair value hedge: le variazioni di fair value dello strumento di copertura sono imputate a conto economico assieme alle variazioni di fair value delle transazioni oggetto della copertura. 2. Cash flow hedge: le variazioni nel fair value degli strumenti efficaci ai fini della copertura dei flussi di cassa futuri  sono  rilevate  nel  conto  economico  complessivo,  mentre  la  porzione  inefficace  viene  iscritta immediatamente nel conto economico. Se gli impegni contrattuali o le operazioni previste oggetto di copertura si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, nel momento in cui le attivit\u00e0 o le passivit\u00e0 rilevate, gli utili o le perdite sul derivato, che sono state rilevate direttamente nel conto economico complessivo, vanno a rettificare la valutazione iniziale del costo di acquisizione o del valore di carico della attivit\u00e0 e della passivit\u00e0. Per le coperture di flussi finanziari che non si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, gli importi che sono stati rilevati direttamente nel conto economico complessivo verranno girati a conto economico nello stesso periodo in cui l\u2019impegno contrattuale o l\u2019operazione prevista oggetto di copertura verranno rilevati a conto economico. 3. Strumenti finanziari derivati non qualificati come di copertura: le variazioni di fair value vengono imputate a conto economico. Il metodo contabile della copertura \u00e8 abbandonato quando lo strumento di copertura giunge a scadenza, \u00e8 venduto, termina, o viene esercitato, oppure non \u00e8 pi\u00f9 qualificato come di copertura. Gli utili o le perdite accumulati  dello  strumento  di  copertura,  rilevati  direttamente  nel  conto  economico  complessivo,  sono mantenuti fino al momento in cui l\u2019operazione prevista si verifica effettivamente. Se si prevede che l\u2019operazione oggetto di copertura non si verificher\u00e0, gli utili o le perdite accumulati rilevati direttamente nel conto economico complessivo sono trasferiti nel conto economico del periodo. 23. Strumenti finanziari derivati  I valori a bilancio si riferiscono alle variazioni di fair value degli strumenti finanziari:  - di copertura delle operazioni di acquisto in valuta;  - di copertura del rischio di variabilit\u00e0 dei tassi di interesse passivi. Tutti gli strumenti finanziari derivati appartenenti a questa voce di bilancio sono valutati al fair value di livello  gerarchico due: la stima del loro valore equo \u00e8 stata fatta utilizzando variabili diverse da prezzi quotati in  mercati attivi e che sono osservabili (sul mercato) o direttamente (prezzi) o indirettamente (derivati da prezzi). Nella fattispecie il fair value contabilizzato \u00e8 pari alla stima \u201cmark to market\u201d fornita dalle banche di riferimento,  che rappresenta il valore corrente di mercato di ciascun contratto calcolato alla data a cui si riferisce la chiusura del bilancio.  La contabilizzazione degli strumenti di seguito esposti avviene al fair value. In accordo con i principi contabili di riferimento tali effetti sono stati contabilizzati a conto economico nell\u2019esercizio corrente. Il valore corrente di tali contratti al 31 dicembre 2022 \u00e8 rappresentato come segue: Al 31 dicembre 2022, sono in essere contratti a termine di acquisto di valuta estera per: Dati in migliaia di euro  31.12.2022 31.12.2021 Valutazione fair value positiva contratti di copertura cambi 142 - Valutazione fair value positiva contratti di opzioni su cambi 29 234 Valutazione fair value positiva IRS e opzioni su tassi di interesse 2.536 52 Totale strumenti finanziari derivati attivi 2.707 286 Valutazione fair value negativa contratti copertura cambi 557 145 Valutazione fair value negativa contratti di opzioni su cambi 142 213 Valutazione fair value negativa IRS e opzioni su tassi di interesse - 223 Totale strumenti finanziari derivati passivi 699 581 Infine, al 31 dicembre 2022, risultano altres\u00ec in essere contratti IRS e opzioni su tassi d\u2019interesse con l\u2019obiettivo di copertura del rischio di variabilit\u00e0 dei tassi di interesse sui finanziamenti. La Capogruppo Emak S.p.A. e le controllate Tecomec S.r.l e Comet S.p.A. hanno sottoscritto contratti IRS e opzioni su tassi di interesse per un importo nozionale complessivo di 60.926 migliaia di Euro. La scadenza degli strumenti \u00e8 cosi dettagliata: Societ\u00e0 Valore nominale  (valori in migliaia) Cambio a termine (medio) Scadenza (*) Contratti a termine di acquisto in valuta Cnh/Euro Emak Spa Cnh 36.000 7,09 12/12/2023 Usd/Euro Emak France Usd 160 1,07 10/05/2023 Jpy/Euro Emak France Jpy 19.000 143,86 10/03/2023 Eur/Pln Victus-Emak S.p. Z.o.o. Euro 1.050 4,78 11/04/2023 Usd/Pln Victus-Emak S.p. Z.o.o. Usd 195 4,69 27/03/2023 Cnh/Pln Victus-Emak S.p. Z.o.o. Cnh 12.300 1,51 19/04/2023 Cnh/Euro Tecomec S.r.l. Cnh 36.000 7,55 05/12/2023 Cnh/Euro Lavorwash Spa Cnh 36.000 7,15 16/11/2023 Gbp/Euro Lavorwash Spa Gbp 250 0,88 17/04/2023 Pln/Euro Lavorwash Spa Pln 1.000 4,80 19/01/2023 Euro/Mxn S.I. Agro Mexico Euro 2.250 22,90 29/09/2023 Euro/Usd Valley Euro 600 1,05 30/06/2023 Contratti a termine di acquisto in valuta con opzione nocking forward Cnh/Usd Emak Spa Cnh 24.000  7,12 08/12/2023 (*) La data di scadenza \u00e8 indicativa dell'ultimo contratto La media dei tassi di interesse di copertura che deriva dagli strumenti in essere al 31 dicembre 2022 \u00e8 pari a 0,24%. Per tutti i contratti, pur avendo la finalit\u00e0 e le caratteristiche di operazioni di copertura, le relative variazioni di fair  value  sono  imputate  a  conto  economico  nel  periodo  di  competenza  in  accordo  alle  regole  di  hedge accounting sancite dall\u2019IFRS 9. Il valore di tutti i contratti (tassi e valuta) in essere al 31 dicembre 2022 risulta essere complessivamente pari a un fair value positivo di 2.008 migliaia di Euro (fair value negativo di 295 migliaia di Euro al 31 dicembre dell\u2019esercizio precedente). Banca Societ\u00e0 Nozionale Euro (valori in migliaia) Data operazioneData scadenza Credit Agricole Emak S.p.A. 500 24/05/2018 30/06/2023 MPS Emak S.p.A. 1.000 14/06/2018 30/06/2023 UniCredit Emak S.p.A. 1.000 14/06/2018 30/06/2023 Banco BPM  Emak S.p.A. 500 21/06/2018 31/03/2023 Banca Nazionale del Lavoro Emak S.p.A. 938 06/07/2018 06/07/2023 UniCredit Emak S.p.A. 1.950 31/07/2019 30/06/2024 Banca Nazionale del Lavoro Emak S.p.A. 1.250 02/08/2019 31/12/2024 Banco BPM  Emak S.p.A. 2.450 02/08/2019 30/06/2024 MPS Emak S.p.A. 3.750 16/06/2020 30/06/2025 UniCredit Emak S.p.A. 9.000 06/08/2021 31/03/2025 Bper Banca  Emak S.p.A. 5.000 05/08/2022 30/06/2027 Bper Comet S.p.A. 2.400 20/09/2017 29/12/2023 Intesa San Paolo Comet S.p.A. 1.200 20/09/2017 29/12/2023 UniCredit Comet S.p.A. 1.000 14/06/2018 30/06/2023 Banca Nazionale del Lavoro Comet S.p.A. 938 06/07/2018 06/07/2023 Bper Comet S.p.A. 1.200 15/11/2018 29/12/2023 Intesa San Paolo Comet S.p.A. 600 15/11/2018 29/12/2023 Banca Nazionale del Lavoro Comet S.p.A. 3.750 02/08/2019 31/12/2024 MPS Comet S.p.A. 4.667 08/10/2021 28/06/2026 Banca Nazionale del Lavoro Comet S.p.A. 10.000 18/02/2022 31/12/2026 Credit Agricole  Tecomec S.r.l. 500 24/05/2018 30/06/2023 MPS Tecomec S.r.l. 2.333 13/10/2021 28/06/2026 Banca Nazionale del Lavoro Tecomec S.r.l. 5.000 18/02/2022 31/12/2026 Totale 60.926 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-433": {
   "value": "Gli strumenti finanziari derivati sono utilizzati solamente con l\u2019intento di copertura al fine di ridurre i rischi di fluttuazione delle valute estere e dei tassi di interesse. Coerentemente con la gestione dei rischi prescelta, infatti, il Gruppo non pone in essere operazioni su derivati a scopi speculativi. Nel caso in cui tuttavia tali operazioni non siano contabilmente qualificabili come operazioni di copertura, esse sono registrate  come operazioni di trading.  Coerentemente con quanto  stabilito  dall\u2019 IFRS  9,  gli strumenti finanziari  derivati  possono  essere  contabilizzati  secondo  le  modalit\u00e0  stabilite  per  l\u2019hedge  accounting  solo quando le condizioni previste dal principio sono soddisfatte. Gli strumenti derivati sono inizialmente rilevati al costo e adeguati al fair value alle successive date di chiusura. Sulla base di quanto detto sopra e dei contratti stipulati, i metodi di contabilizzazione adottati sono: 1. Fair value hedge: le variazioni di fair value dello strumento di copertura sono imputate a conto economico assieme alle variazioni di fair value delle transazioni oggetto della copertura. 2. Cash flow hedge: le variazioni nel fair value degli strumenti efficaci ai fini della copertura dei flussi di cassa futuri  sono  rilevate  nel  conto  economico  complessivo,  mentre  la  porzione  inefficace  viene  iscritta immediatamente nel conto economico. Se gli impegni contrattuali o le operazioni previste oggetto di copertura si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, nel momento in cui le attivit\u00e0 o le passivit\u00e0 rilevate, gli utili o le perdite sul derivato, che sono state rilevate direttamente nel conto economico complessivo, vanno a rettificare la valutazione iniziale del costo di acquisizione o del valore di carico della attivit\u00e0 e della passivit\u00e0. Per le coperture di flussi finanziari che non si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, gli importi che sono stati rilevati direttamente nel conto economico complessivo verranno girati a conto economico nello stesso periodo in cui l\u2019impegno contrattuale o l\u2019operazione prevista oggetto di copertura verranno rilevati a conto economico. 3. Strumenti finanziari derivati non qualificati come di copertura: le variazioni di fair value vengono imputate a conto economico. Il valore corrente degli strumenti finanziari quotati in mercati attivi (come i derivati negoziati pubblicamente e i titoli destinati alla negoziazione e disponibili per la vendita) \u00e8 basato sul prezzo di mercato alla data di bilancio. Il prezzo di mercato utilizzato per le attivit\u00e0 finanziarie detenute dal Gruppo \u00e8 il prezzo denaro; il prezzo di mercato per le passivit\u00e0 finanziarie \u00e8 il prezzo lettera. Il valore corrente degli strumenti finanziari non quotati in un mercato attivo (per esempio, i derivati quotati fuori borsa) \u00e8 determinato utilizzando tecniche di valutazione. Il Gruppo utilizza diversi metodi e formula ipotesi che sono basate sulle condizioni di mercato esistenti alla data di bilancio. Per i debiti a medio-lungo termine sono utilizzate le quotazioni di mercato o i prezzi di negoziazione per gli strumenti specifici o similari. Altre tecniche, come ad esempio la stima del valore attuale dei futuri flussi di cassa, sono utilizzate per determinare il valore corrente degli altri strumenti finanziari. Il valore corrente dei contratti a termine in valuta estera \u00e8 determinato utilizzando i tassi di cambio a termine previsti alla data di bilancio. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-418": {
   "value": "Gli strumenti finanziari derivati sono utilizzati solamente con l\u2019intento di copertura al fine di ridurre i rischi di fluttuazione delle valute estere e dei tassi di interesse. Coerentemente con la gestione dei rischi prescelta, infatti, il Gruppo non pone in essere operazioni su derivati a scopi speculativi. Nel caso in cui tuttavia tali operazioni non siano contabilmente qualificabili come operazioni di copertura, esse sono registrate  come operazioni di trading.  Coerentemente con quanto  stabilito  dall\u2019 IFRS  9,  gli strumenti finanziari  derivati  possono  essere  contabilizzati  secondo  le  modalit\u00e0  stabilite  per  l\u2019hedge  accounting  solo quando le condizioni previste dal principio sono soddisfatte. Gli strumenti derivati sono inizialmente rilevati al costo e adeguati al fair value alle successive date di chiusura. Sulla base di quanto detto sopra e dei contratti stipulati, i metodi di contabilizzazione adottati sono: 1. Fair value hedge: le variazioni di fair value dello strumento di copertura sono imputate a conto economico assieme alle variazioni di fair value delle transazioni oggetto della copertura. 2. Cash flow hedge: le variazioni nel fair value degli strumenti efficaci ai fini della copertura dei flussi di cassa futuri  sono  rilevate  nel  conto  economico  complessivo,  mentre  la  porzione  inefficace  viene  iscritta immediatamente nel conto economico. Se gli impegni contrattuali o le operazioni previste oggetto di copertura si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, nel momento in cui le attivit\u00e0 o le passivit\u00e0 rilevate, gli utili o le perdite sul derivato, che sono state rilevate direttamente nel conto economico complessivo, vanno a rettificare la valutazione iniziale del costo di acquisizione o del valore di carico della attivit\u00e0 e della passivit\u00e0. Per le coperture di flussi finanziari che non si concretizzano nella rilevazione di attivit\u00e0 o passivit\u00e0, gli importi che sono stati rilevati direttamente nel conto economico complessivo verranno girati a conto economico nello stesso periodo in cui l\u2019impegno contrattuale o l\u2019operazione prevista oggetto di copertura verranno rilevati a conto economico. 3. Strumenti finanziari derivati non qualificati come di copertura: le variazioni di fair value vengono imputate a conto economico. Il metodo contabile della copertura \u00e8 abbandonato quando lo strumento di copertura giunge a scadenza, \u00e8 venduto, termina, o viene esercitato, oppure non \u00e8 pi\u00f9 qualificato come di copertura. Gli utili o le perdite accumulati  dello  strumento  di  copertura,  rilevati  direttamente  nel  conto  economico  complessivo,  sono mantenuti fino al momento in cui l\u2019operazione prevista si verifica effettivamente. Se si prevede che l\u2019operazione oggetto di copertura non si verificher\u00e0, gli utili o le perdite accumulati rilevati direttamente nel conto economico complessivo sono trasferiti nel conto economico del periodo. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-386": {
   "value": "4.3 Stima del valore corrente Il valore corrente degli strumenti finanziari quotati in mercati attivi (come i derivati negoziati pubblicamente e i titoli destinati alla negoziazione e disponibili per la vendita) \u00e8 basato sul prezzo di mercato alla data di bilancio. Il prezzo di mercato utilizzato per le attivit\u00e0 finanziarie detenute dal Gruppo \u00e8 il prezzo denaro; il prezzo di mercato per le passivit\u00e0 finanziarie \u00e8 il prezzo lettera. Il valore corrente degli strumenti finanziari non quotati in un mercato attivo (per esempio, i derivati quotati fuori borsa) \u00e8 determinato utilizzando tecniche di valutazione. Il Gruppo utilizza diversi metodi e formula ipotesi che sono basate sulle condizioni di mercato esistenti alla data di bilancio. Per i debiti a medio-lungo termine sono utilizzate le quotazioni di mercato o i prezzi di negoziazione per gli strumenti specifici o similari. Altre tecniche, come ad esempio la stima del valore attuale dei futuri flussi di cassa, sono utilizzate per determinare il valore corrente degli altri strumenti finanziari. Il valore corrente dei contratti a termine in valuta estera \u00e8 determinato utilizzando i tassi di cambio a termine previsti alla data di bilancio. Si ipotizza che il valore nominale, meno una stima dei crediti dubbi, approssimi il valore corrente dei crediti e dei debiti commerciali. Ai fini delle presenti note, il valore corrente delle passivit\u00e0 finanziarie \u00e8 stimato in base all\u2019attualizzazione dei futuri flussi di cassa contrattuali al tasso di interesse di mercato corrente disponibile per il Gruppo per strumenti finanziari simili. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-439": {
   "value": "4.3 Stima del valore corrente Il valore corrente degli strumenti finanziari quotati in mercati attivi (come i derivati negoziati pubblicamente e i titoli destinati alla negoziazione e disponibili per la vendita) \u00e8 basato sul prezzo di mercato alla data di bilancio. Il prezzo di mercato utilizzato per le attivit\u00e0 finanziarie detenute dal Gruppo \u00e8 il prezzo denaro; il prezzo di mercato per le passivit\u00e0 finanziarie \u00e8 il prezzo lettera. Il valore corrente degli strumenti finanziari non quotati in un mercato attivo (per esempio, i derivati quotati fuori borsa) \u00e8 determinato utilizzando tecniche di valutazione. Il Gruppo utilizza diversi metodi e formula ipotesi che sono basate sulle condizioni di mercato esistenti alla data di bilancio. Per i debiti a medio-lungo termine sono utilizzate le quotazioni di mercato o i prezzi di negoziazione per gli strumenti specifici o similari. Altre tecniche, come ad esempio la stima del valore attuale dei futuri flussi di cassa, sono utilizzate per determinare il valore corrente degli altri strumenti finanziari. Il valore corrente dei contratti a termine in valuta estera \u00e8 determinato utilizzando i tassi di cambio a termine previsti alla data di bilancio. Si ipotizza che il valore nominale, meno una stima dei crediti dubbi, approssimi il valore corrente dei crediti e dei debiti commerciali. Ai fini delle presenti note, il valore corrente delle passivit\u00e0 finanziarie \u00e8 stimato in base all\u2019attualizzazione dei futuri flussi di cassa contrattuali al tasso di interesse di mercato corrente disponibile per il Gruppo per strumenti finanziari simili. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-321": {
   "value": "5. Giudizi e stime contabili significativi La redazione del bilancio consolidato e delle relative note in applicazione degli IFRS richiede, da parte degli  Amministratori, l\u2019effettuazione di stime e di assunzioni che hanno effetto sui valori delle attivit\u00e0 e delle passivit\u00e0  di bilancio e sull\u2019informativa relativa ad attivit\u00e0 e passivit\u00e0 potenziali alla data di chiusura dell\u2019esercizio. I risultati a consuntivo potrebbero differire da tali stime. Le stime sono utilizzate per rilevare gli accantonamenti per  rischi su crediti, per obsolescenza di magazzino, ammortamenti, svalutazioni di attivo, altri accantonamenti e  fondi, passivit\u00e0 per lease e diritto d\u2019uso. Le stime e le assunzioni sono riviste periodicamente e gli effetti di  ogni variazione sono riflessi immediatamente a conto economico. La valutazione che l\u2019avviamento sia iscritto a bilancio per un valore non superiore al loro valore recuperabile  (cd. Impairment test) prevede, in prima battuta, di testare la tenuta del valore degli avviamenti suddivisi in  Cash Generating Unit (CGU). Il calcolo del valore recuperabile \u00e8 effettuato in conformit\u00e0 ai criteri previsti dallo  IAS 36 e viene determinato nell\u2019accezione di valore d\u2019uso mediante attualizzazione dei flussi di cassa attesi  dall\u2019utilizzo del bene o di una CGU nonch\u00e9 dal valore che ci si attende dalla sua dismissione al termine della sua vita utile. Questo processo comporta l\u2019utilizzo di stime e assunzioni per determinare sia l\u2019ammontare dei  flussi di cassa futuri sia i corrispettivi tassi di attualizzazione. I flussi di cassa futuri sono basati sui pi\u00f9 recenti  piani  economico-finanziari  elaborati  dal  Management  di  ciascuna  CGU,  ed  approvati  dal  Consiglio  di Amministrazione. In riferimento ai business in cui l\u2019azienda opera, i fattori che hanno maggiore rilevanza nelle  stime dei flussi di cassa futuri sono riconducibili alla difficolt\u00e0 intrinseca della formulazione di previsioni future,  alla  realizzabilit\u00e0  di  strategie  di  mercato  in  contesti  altamente  competitivi,  nonch\u00e9  ai  rischi  di  natura  macroeconomica  e  geo-politica  connessi  alle  aree  geografiche  in  cui  opera  il  Gruppo  Emak.  I  tassi  di  attualizzazione riflettono il costo del denaro per il periodo oggetto di previsione e i rischi specifici delle attivit\u00e0  e dei Paesi in cui il Gruppo opera e sono basati su dati osservabili nei mercati finanziari. In tale ambito si segnala che la situazione causata  dalle perduranti incertezze del contesto  economico  e  finanziario conseguenti dapprima alla diffusione della pandemia Covid-19 ed in secondo luogo dallo scoppio del conflitto armato in Ucraina, ha comportato la necessit\u00e0 di effettuare assunzioni riguardanti l\u2019andamento  futuro caratterizzate da volatilit\u00e0 ed imprevedibilit\u00e0, per cui non si pu\u00f2 escludere il concretizzarsi, nel futuro, di risultati diversi da quanto stimato e che quindi potrebbero richiedere rettifiche, ad oggi ovviamente n\u00e9 stimabil i n\u00e9 prevedibili al valore contabile delle relative poste. L\u2019applicazione del principio IFRS 16 richiede l\u2019effettuazione di stime e di assunzioni, tra cui la determinazion e della probabilit\u00e0 di esercizio dell\u2019opzione di estensione o cessazione del contratto ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-322": {
   "value": "6. Informazioni settoriali L\u2019IFRS 8 prevede che per alcune voci di bilancio sia data un\u2019informativa sulla base dei settori operativi in cui opera l\u2019azienda. Un settore operativo \u00e8 una componente di un\u2019entit\u00e0: a)  che intraprende attivit\u00e0 imprenditoriali generatrici di costi e ricavi; b)  i  cui  risultati  operativi  sono  rivisti  periodicamente  al  pi\u00f9  alto  livello  decisionale  operativo  ai  fin i dell\u2019adozione di decisioni in merito alle risorse da allocare al settore e della valutazione dei risultati;  c)  per la quale sono disponibili informazioni di bilancio separate.  L\u2019IFRS  8  si  fonda  sul  c.d.  \u201cManagement  approach\u201d,  che  prevede  di  enucleare  i  settori  esclusivamente  i n relazione alla struttura organizzativa e al reporting interno utilizzato per valutare le performance e allocare l e risorse. Alla luce di tali definizioni, per il Gruppo Emak i settori operativi sono rappresentati da tre Divisioni/Business Unit con i quali sviluppa, produce e distribuisce la propria gamma di prodotti:  \u2022  Outdoor  Power  Equipment  (prodotti  per  il  giardinaggio,  l\u2019attivit\u00e0  forestale  e  piccole  macchine  pe r l\u2019agricoltura, quali decespugliatori, rasaerba, trattorini, motoseghe, motozappe e motocoltivatori); \u2022  Pompe e High Pressure Water Jetting (pompe a membrana destinate al settore agricolo -irrorazion e diserbo-, pompe a pistoni per il comparto industriale, idropulitrici professionali e semiprofessionali , unit\u00e0 idrodinamiche e macchine per l\u2019urban cleaninig); \u2022  Componenti ed Accessori (filo e testine per decespugliatori, cavi per applicazioni agricole, accessori per motoseghe, pistole, valvole ed ugelli per idropulitrici e per applicazioni agricole, precision farmin g quali sensori e computer, sedili e ricambi tecnici per trattori). Gli Amministratori osservano separatamente i risultati conseguiti per settore di business allo scopo di prender e decisioni in merito all\u2019allocazione delle risorse e alla verifica della performance.  La performance dei settori \u00e8 valutata sulla base del risultato che \u00e8 misurato coerentemente con il risultato del  bilancio consolidato. Di seguito i principali dati economici e finanziari suddivisi per settore operativo:  Per i commenti dei dati economico-finanziari si rimanda al capitolo 3 della Relazione sulla Gestione. \u20ac/000 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 Ricavi verso terzi       199.436        202.977        241.283          229.990        165.004       155.332  605.723       588.299 Ricavi Infrasettoriali             357              345            3.308              2.877            9.685         10.524  (13.350) (13.746) Totale Ricavi       199.793        203.322        244.591          232.867        174.689       165.856  (13.350) (13.746) 605.723       588.299 Ebitda   (*)         12.257          16.221          34.910            33.991          31.937         30.913  (3.025) (3.829) 76.079        77.296 Ebitda/Totale Ricavi % 6,1% 8,0% 14,3% 14,6% 18,3% 18,6% 12,6% 13,1% Ebitda prima degli oneri/proventi non ordinari   (*)         12.495          16.360          35.082            33.382          32.092         31.523  (3.025) (3.829) 76.644        77.436 Ebitda prima degli oneri e proventi non ordinari/Totale Ricavi6,3% 8,0% 14,3% 14,3% 18,4% 19,0% 12,7% 13,2% Risultato operativo 1.251 8.089         26.054            26.128          22.475         22.516  (3.025) (3.829) 46.755        52.904 Risultato operativo/Totale Ricavi % 0,6% 4,0% 10,7% 11,2% 12,9% 13,6% 7,7% 9,0% Risultato della gestione finanziaria (1) (2.658) (7.019) Utile prima delle imposte 44.097        45.885 Imposte sul reddito (12.932) (12.774) Utile d'esercizio consolidato 31.165        33.111 Utile d'esercizio consolidato/Totale Ricavi % 5,1% 5,6% (1) Il \"Risultato della gestione finanziaria\" include proventi e oneri finanziari, gli utili/perdite su cambi ed il risultato da partecipazioni in societ\u00e0 collegate SITUAZIONE PATRIMONIALE E FINANZIARIA 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 Posizione Finanziaria Netta   (*)         21.295            6.778        108.992            96.092          47.018         41.399  0 0 177.305       144.269 Patrimonio Netto       184.363        186.501          98.689            83.830          72.228         63.454  (78.293) (77.852) 276.987       255.933 Totale Patrimonio Netto e PFN       205.658        193.279        207.681          179.922        119.246       104.853  (78.293) (77.852) 454.292       400.202 Attivit\u00e0 non correnti nette (2)   (*)      122.922        128.424        101.679            95.854          57.242         53.233  (75.238) (75.394) 206.605       202.117 Capitale Circolante Netto   (*)        82.736          64.855        106.002            84.068          62.004         51.620  (3.055) (2.458) 247.687       198.085 Totale Capitale Investito Netto   (*)      205.658        193.279        207.681          179.922        119.246       104.853  (78.293) (77.852) 454.292       400.202 (2) Le attivit\u00e0 non correnti nette del settore Outdoor Power Equipment include l'ammontare delle Partecipazioni in societ\u00e0 controllate per 76.074 migliaia di Euro ALTRI INDICATORI 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 Dipendenti a fine periodo            747              758              873                837              655              622                  9                  8  2.284          2.225 ALTRE INFORMAZIONI 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 31.12.2022 31.12.2021 Ammortamenti e perdite di valore        11.006            8.132            8.856              7.863            9.462           8.397  29.324        24.392 Investimenti in immobilizzazioni materiali e immateriali          4.461            4.266            8.639              5.229            8.632           8.066  21.732        17.561 (*) Per maggiori dettagli si rimanda al paragrafo \"Definizione degli indicatori alternativi di performance\" in Relazione sulla gestione OUTDOOR POWER EQUIPMENT POMPE E HIGH PRESSURE WATER JETTING COMPONENTI E ACCESSORI Altri non allocati / ElisioniConsolidato ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-387": {
   "value": "6. Informazioni settoriali L\u2019IFRS 8 prevede che per alcune voci di bilancio sia data un\u2019informativa sulla base dei settori operativi in cui opera l\u2019azienda. Un settore operativo \u00e8 una componente di un\u2019entit\u00e0: a)  che intraprende attivit\u00e0 imprenditoriali generatrici di costi e ricavi; b)  i  cui  risultati  operativi  sono  rivisti  periodicamente  al  pi\u00f9  alto  livello  decisionale  operativo  ai  fin i dell\u2019adozione di decisioni in merito alle risorse da allocare al settore e della valutazione dei risultati;  c)  per la quale sono disponibili informazioni di bilancio separate.  L\u2019IFRS  8  si  fonda  sul  c.d.  \u201cManagement  approach\u201d,  che  prevede  di  enucleare  i  settori  esclusivamente  i n relazione alla struttura organizzativa e al reporting interno utilizzato per valutare le performance e allocare l e risorse. Alla luce di tali definizioni, per il Gruppo Emak i settori operativi sono rappresentati da tre Divisioni/Business Unit con i quali sviluppa, produce e distribuisce la propria gamma di prodotti:  \u2022  Outdoor  Power  Equipment  (prodotti  per  il  giardinaggio,  l\u2019attivit\u00e0  forestale  e  piccole  macchine  pe r l\u2019agricoltura, quali decespugliatori, rasaerba, trattorini, motoseghe, motozappe e motocoltivatori); \u2022  Pompe e High Pressure Water Jetting (pompe a membrana destinate al settore agricolo -irrorazion e diserbo-, pompe a pistoni per il comparto industriale, idropulitrici professionali e semiprofessionali , unit\u00e0 idrodinamiche e macchine per l\u2019urban cleaninig); \u2022  Componenti ed Accessori (filo e testine per decespugliatori, cavi per applicazioni agricole, accessori per motoseghe, pistole, valvole ed ugelli per idropulitrici e per applicazioni agricole, precision farmin g quali sensori e computer, sedili e ricambi tecnici per trattori). Gli Amministratori osservano separatamente i risultati conseguiti per settore di business allo scopo di prender e decisioni in merito all\u2019allocazione delle risorse e alla verifica della performance.  La performance dei settori \u00e8 valutata sulla base del risultato che \u00e8 misurato coerentemente con il risultato del  bilancio consolidato. Di seguito i principali dati economici e finanziari suddivisi per settore operativo:  ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-323": {
   "value": "Acquisizione di Trebol <span class=\"_ _1\"></span>Maquinaria y <span class=\"_ _1\"></span>Suministros S.A.<span class=\"_ _8\"></span> In data 30 <span class=\"_ _1\"></span>settembre <span class=\"_ _1\"></span>2022,<span class=\"_ _1\"></span> la control<span class=\"_ _1\"></span>lata Sabart <span class=\"_ _1\"></span>S.r.l., <span class=\"_ _1\"></span>ha sottoscritto <span class=\"_ _1\"></span>un acc<span class=\"_ _1\"></span>ordo v<span class=\"_ _1\"></span>incolante per <span class=\"_ _1\"></span>l\u2019acq<span class=\"_ _8\"></span><span class=\"ff2\">uisto<span class=\"_ _1\"></span> de<span class=\"_ _26a\"> </span></span><span class=\"ff2\">l<span class=\"_ _26a\"> </span></span>controllo <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>Tr<span class=\"_ _1\"></span>ebol <span class=\"_ _21\"> </span>Maquin<span class=\"_ _1\"></span>aria <span class=\"_ _21\"> </span>y <span class=\"_ _21\"> </span>Su<span class=\"_ _1\"></span>ministros <span class=\"_ _21\"> </span>S.A., <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _21\"> </span>co<span class=\"_ _1\"></span>n <span class=\"_ _21\"> </span>sede <span class=\"_ _21\"> </span>a <span class=\"_ _1e\"> </span>La <span class=\"_ _21\"> </span>Cor<span class=\"_ _1\"></span>una <span class=\"_ _21\"> </span>(Spagna), <span class=\"_ _1e\"> </span>attiva <span class=\"_ _21\"> </span>nella<span class=\"_ _26a\"> </span>commercializzazione di<span class=\"_ _1\"></span> ricambi e access<span class=\"_ _1\"></span>ori nel settore Garden e<span class=\"_ _1\"></span> Forestry.<span class=\"_ _8\"></span> La soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>realizzat<span class=\"_ _1\"></span>o n<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>vendite<span class=\"_ _1\"></span> per <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>irca <span class=\"_ _1\"></span>5<span class=\"_ _1\"></span> m<span class=\"_ _1\"></span>ilioni <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro<span class=\"_ _1\"></span>, <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>EBITDA <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ormalizzato <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>13%<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>circa<span class=\"_ _26a\"> </span>,<span class=\"_ _26a\"> </span>con posizione finanz<span class=\"_ _1\"></span>iaria netta positiva p<span class=\"_ _1\"></span>ari a circa 200 migl<span class=\"_ _1\"></span>iaia di Euro.<span class=\"_ _1\"></span> Il 13 ottobre 2022, Sab<span class=\"_ _1\"></span>art S.r.l. ha completato <span class=\"_ _1\"></span>l\u2019acquisizione de<span class=\"_ _1\"></span>ll\u201983,33% della soc<span class=\"_ _1\"></span>iet\u00e0 ad un prezz<span class=\"_ _1\"></span>o pari a 3,4<span class=\"_ _26a\"> </span>milioni di Euro.<span class=\"_ _1\"></span> La <span class=\"ls1\">rimanente qu<span class=\"_ _1\"></span>ota della societ\u00e0, par<span class=\"_ _1\"></span>i al 16,67%, rim<span class=\"_ _1\"></span>ane di propriet<span class=\"_ _1\"></span>\u00e0 di uno dei soci fo<span class=\"_ _1\"></span>ndatori della soc<span class=\"_ _1\"></span>iet\u00e0.<span class=\"_ _8\"></span> </span>Con questa operazione, il Gruppo intende espandere la propria presenza diretta<span class=\"_ _1\"></span> nel segmento Componenti &amp;<span class=\"_ _26a\"> </span>Accessori in uno <span class=\"_ _3\"></span>dei principali mercati di sbocco a <span class=\"_ _3\"></span>livello europeo oltre ad ampliare il <span class=\"_ _3\"></span>proprio catalogo ricambi<span class=\"_ _26a\"> </span>,<span class=\"_ _26a\"> </span>rafforzando ulteriorme<span class=\"_ _1\"></span>nte la propria pos<span class=\"_ _1\"></span>izione di fornit<span class=\"_ _1\"></span>ore chiave nel settore<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> Il fair <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lue <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _1\"></span>oggetto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisizione <span class=\"_ _8\"></span>determinati <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>base <span class=\"_ _1\"></span>all\u2019ult<span class=\"_ _1\"></span>ima <span class=\"_ _1\"></span>situaz<span class=\"_ _8\"></span><span class=\"ff2\">io<span class=\"_ _1\"></span>ne co<span class=\"_ _1\"></span>ntabil<span class=\"_ _26a\"> </span></span><span class=\"ff2\">e<span class=\"_ _26a\"> </span></span>del 30 settembre 2022,<span class=\"_ _1\"></span> il prezzo pag<span class=\"_ _1\"></span>ato e l\u2019esborso finanziar<span class=\"_ _1\"></span>io sono di seguit<span class=\"_ _1\"></span>o dettagliati:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>La <span class=\"_ _3\"></span>differenza tra il<span class=\"_ _3\"></span> prezzo di <span class=\"_ _2\"></span>ac<span class=\"_ _1\"></span>quisizione pagato <span class=\"_ _3\"></span>e il <span class=\"_ _2\"></span>f<span class=\"_ _1\"></span>air value delle attivit\u00e0, <span class=\"_ _3\"></span>passivit\u00e0 e <span class=\"_ _3\"></span>passivit\u00e0 potenziali alla<span class=\"_ _26a\"> </span>data di acq<span class=\"_ _1\"></span>uisizione \u00e8 <span class=\"_ _1\"></span>stato<span class=\"_ _1\"></span> rilevato qu<span class=\"_ _1\"></span>ale avviam<span class=\"_ _1\"></span>ento. <span class=\"_ _1\"></span>Le rettifiche <span class=\"_ _1\"></span>di fair va<span class=\"_ _1\"></span>lue si <span class=\"_ _1\"></span>riferiscono per <span class=\"_ _1\"></span>392 m<span class=\"_ _1\"></span>igliaia<span class=\"_ _26a\"> </span>di Euro <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>marchio e<span class=\"_ _1\"></span> per<span class=\"_ _1\"></span> 916 m<span class=\"_ _1\"></span>igliaia d<span class=\"_ _1\"></span>i Euro<span class=\"_ _1\"></span> alla <span class=\"_ _8\"></span><span class=\"ff7\">custo<span class=\"_ _1\"></span>mer relat<span class=\"_ _1\"></span>ionship</span>, <span class=\"_ _1\"></span>valorizzati<span class=\"_ _1\"></span> in <span class=\"_ _1\"></span>sede d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span><span class=\"ff7\">Purchase <span class=\"_ _1\"></span>Price<span class=\"_ _26a\"> </span></span>Allocation<span class=\"ff2\"> <span class=\"_ _1\"></span><span class=\"ff5\">secondo <span class=\"_ _1\"></span>quanto <span class=\"_ _8\"></span>previsto da<span class=\"_ _1\"></span>ll\u2019IFRS <span class=\"_ _1\"></span>3. <span class=\"_ _1\"></span>La <span class=\"_ _1\"></span>valutazione <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>definito <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>vita <span class=\"_ _1\"></span>utile <span class=\"_ _1\"></span>stimata <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>attribuirsi <span class=\"_ _1\"></span>al<span class=\"_ _1\"></span> </span></span>marchio <span class=\"_ _8\"></span>(1<span class=\"_ _1\"></span>0 <span class=\"_ _11\"></span>anni) <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>alla <span class=\"_ _11\"></span>lista <span class=\"_ _11\"></span>clienti <span class=\"_ _8\"></span>(15 <span class=\"_ _11\"></span>anni). <span class=\"_ _11\"></span>Dalla <span class=\"_ _11\"></span>valutazione <span class=\"_ _11\"></span>non <span class=\"_ _8\"></span>sono <span class=\"_ _11\"></span>emers<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>otenziali <span class=\"_ _11\"></span>non<span class=\"_ _26a\"> </span>riflesse.<span class=\"_ _26a\"> </span>La <span class=\"_ _2\"></span>determinazion<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>fair <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alue <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>at<span class=\"_ _1\"></span>tivit\u00e0 <span class=\"_ _2\"></span>e <span class=\"_ _2\"></span>pass<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _2\"></span>acquis<span class=\"_ _1\"></span>ite <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>avvenu<span class=\"_ _1\"></span>to <span class=\"_ _2\"></span>seguendo <span class=\"_ _3\"></span>metodologie <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lutative<span class=\"_ _26a\"> </span>riconosciute come <span class=\"_ _3\"></span>best practice; <span class=\"_ _3\"></span>in particolare, <span class=\"_ _3\"></span>il criterio <span class=\"_ _3\"></span>dell<span class=\"_ _1\"></span><span class=\"fff\">\u2019excess<span class=\"_ _1\"></span> ea<span class=\"_ _3\"></span>rning method <span class=\"ff2\">per <span class=\"_ _3\"></span>la <span class=\"_ _3\"></span>lista clienti e <span class=\"_ _2\"></span>il <span class=\"ff7\">relief<span class=\"_ _1\"></span> </span></span></span>from royalty met<span class=\"_ _1\"></span><span class=\"ls4\">hod</span><span class=\"ff2\"> per il marc<span class=\"_ _1\"></span>hio.<span class=\"_ _26a\"> </span></span>Al 31 dicembre 2022<span class=\"_ _1\"></span> il process<span class=\"_ _1\"></span>o di <span class=\"ff7\">Purchase <span class=\"_ _1\"></span>Price Allocation<span class=\"_ _1\"></span></span> risulta completat<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ori<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>Va<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>ori<span class=\"_ _1\"></span> cont<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> R<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>fiche<span class=\"_ _8\"></span> di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fa<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>r<span class=\"_ _26a\"> </span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _26a\"> </span>Fa<span class=\"_ _8\"></span>ir <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>ue<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>vi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>cqui<span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>te<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ivi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>mobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ater<span class=\"_ _3\"></span>iali<span class=\"_ _185\"> </span><span class=\"ls32\">34<span class=\"_ _186\"> </span>34<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>m<span class=\"_ _1\"></span>mobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>materiali<span class=\"_ _187\"> </span><span class=\"ls33\"> -<span class=\"_ _e7\"> </span></span>1.30<span class=\"_ _3\"></span>8<span class=\"_ _17e\"> </span>1.<span class=\"_ _1\"></span>30<span class=\"_ _3\"></span>8<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>tre att<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nzi<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>ie <span class=\"_ _188\"> </span><span class=\"ls32\">20<span class=\"_ _186\"> </span>20<span class=\"_ _26a\"> </span></span>D<span class=\"_ _3\"></span>iritt<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>d'<span class=\"_ _2\"></span>us<span class=\"_ _1\"></span>o<span class=\"_ _189\"> </span><span class=\"ls32\">113<span class=\"_ _121\"> </span>113<span class=\"_ _26a\"> </span></span>A<span class=\"_ _3\"></span>tt<span class=\"_ _3\"></span>ivi<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>im<span class=\"_ _1\"></span>an<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>e <span class=\"_ _18a\"> </span>1.67<span class=\"_ _3\"></span>2<span class=\"_ _157\"> </span>1<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>67<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1\"></span> c<span class=\"_ _8\"></span>ommer<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>iali <span class=\"_ _1\"></span>e alt<span class=\"_ _1\"></span>ri c<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _11a\"> </span><span class=\"ls32\">718<span class=\"_ _121\"> </span>718<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>diti<span class=\"_ _1\"></span> t<span class=\"_ _1\"></span>ribu<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>i<span class=\"_ _5\"> </span><span class=\"ls32\">11<span class=\"_ _186\"> </span>11<span class=\"_ _26a\"> </span></span>C<span class=\"_ _3\"></span>ass<span class=\"_ _8\"></span>a e dis<span class=\"_ _1\"></span>pon<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>bilit<span class=\"_ _1\"></span>\u00e0 liquide<span class=\"_ _18b\"> </span><span class=\"ls32\">52<span class=\"_ _186\"> </span>52<span class=\"_ _26a\"> </span></span>Pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>an<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e da lease<span class=\"_ _42\"> </span> (9<span class=\"_ _3\"></span>4)<span class=\"_ _140\"> </span> <span class=\"_ _1\"></span>(9<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ali <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r im<span class=\"_ _1\"></span>po<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>e dif<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>erite<span class=\"_ _79\"> </span> (3<span class=\"_ _3\"></span>4)<span class=\"_ _4\"> </span> (32<span class=\"_ _3\"></span>7)<span class=\"_ _ce\"> </span> <span class=\"_ _1\"></span>(3<span class=\"_ _3\"></span>61<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>Pa<span class=\"_ _8\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>corre<span class=\"_ _1\"></span>nti<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommerciali <span class=\"_ _1\"></span>e alt<span class=\"_ _1\"></span>re<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>pa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0<span class=\"_ _18c\"> </span> (66<span class=\"_ _3\"></span>5)<span class=\"_ _18d\"> </span> (66<span class=\"_ _3\"></span>5)<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>utari<span class=\"_ _18e\"> </span> (12<span class=\"_ _3\"></span>4)<span class=\"_ _18d\"> </span> (12<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Pas<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>an<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e da lease<span class=\"_ _42\"> </span> (1<span class=\"_ _3\"></span>9)<span class=\"_ _140\"> </span> <span class=\"_ _1\"></span>(1<span class=\"_ _3\"></span>9)<span class=\"_ _26a\"> </span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> a<span class=\"_ _8\"></span>tt<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>vit\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>tt<span class=\"_ _2\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>ite<span class=\"_ _71\"> </span>1.684<span class=\"_ _17b\"> </span><span class=\"ls32\">981<span class=\"_ _c5\"> </span></span>2.665<span class=\"_ _26a\"> </span>Pe<span class=\"_ _8\"></span>rce<span class=\"_ _1\"></span>ntua<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _8\"></span>ta<span class=\"_ _18f\"> </span>83<span class=\"_ _3\"></span>,<span class=\"_ _1\"></span>33<span class=\"_ _3\"></span>%<span class=\"_ _26a\"> </span>PN di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>fe<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span>nto cons<span class=\"_ _9\"></span>ol<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>da<span class=\"_ _8\"></span>to<span class=\"_ _190\"> </span>2.22<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Pre<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>one<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>ve<span class=\"_ _1\"></span>rs<span class=\"_ _9\"></span>a<span class=\"_ _8\"></span>to pe<span class=\"_ _8\"></span>r <span class=\"_ _1\"></span>il<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>83,33%<span class=\"_ _c\"></span> <span class=\"_ _191\"> </span>3.41<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>A<span class=\"_ _3\"></span>vvia<span class=\"_ _1\"></span>m<span class=\"_ _8\"></span>e<span class=\"_ _1\"></span>nto <span class=\"_ _192\"> </span>1.19<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>s<span class=\"_ _9\"></span>s<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span>s<span class=\"_ _9\"></span>po<span class=\"_ _1\"></span>ni<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>t\u00e0<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>qui<span class=\"_ _1\"></span>de<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>cquis<span class=\"_ _2\"></span>ite<span class=\"_ _193\"> </span><span class=\"ff2 ls32\">52<span class=\"_ _26a\"> </span></span>U<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>ci<span class=\"_ _1\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ne<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>ta<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>s<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _194\"> </span>3.36<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBusinessCombinationsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-324": {
   "value": "10. Ricavi ed altri rica<span class=\"_ _1\"></span>vi operativi<span class=\"_ _1\"></span> I <span class=\"_ _23\"></span>ricavi <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>Grupp<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>ammo<span class=\"_ _1\"></span>ntano <span class=\"_ _23\"> </span>a <span class=\"_ _23\"> </span>605.72<span class=\"_ _1\"></span>3 <span class=\"_ _23\"> </span>migliaia <span class=\"_ _21\"> </span>di <span class=\"_ _23\"> </span>Euro, <span class=\"_ _23\"> </span>contro<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>588.299 <span class=\"_ _23\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _23\"></span>dello <span class=\"_ _23\"> </span>scors<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>esercizio e sono esposti<span class=\"_ _1\"></span> al netto de<span class=\"_ _1\"></span>i resi per 1.274 mig<span class=\"_ _1\"></span>liaia di Euro, contro 1.5<span class=\"_ _1\"></span>35 migliaia di Euro d<span class=\"_ _1\"></span>ello <span class=\"_ _8\"></span>scors<span class=\"_ _26a\"> </span>esercizio.<span class=\"_ _26a\"> </span>Il dettaglio della voce r<span class=\"_ _1\"></span>icavi \u00e8 il seguente:<span class=\"_ _8\"></span> L\u2019incremento  dei  \u201cRicavi\u201d  si  riferisce  alla  crescita  registrata  in  alcuni  segm<span class=\"_ _1\"></span>enti  in  cui  opera  il  Gruppo,<span class=\"_ _26a\"> </span>concentrata <span class=\"_ _8\"></span>soprattutto <span class=\"_ _8\"></span>ne<span class=\"_ _1\"></span>lle <span class=\"_ _8\"></span>aree <span class=\"_ _8\"></span>Europa <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>Americas. <span class=\"_ _8\"></span>La <span class=\"_ _8\"></span>variazione <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>area <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onsolida<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>ha <span class=\"_ _8\"></span>avuto <span class=\"_ _8\"></span>u<span class=\"_ _26a\"> </span>effetto positivo sui r<span class=\"_ _1\"></span>icavi dell\u2019esercizio p<span class=\"_ _1\"></span>er 4.549 miglia<span class=\"_ _1\"></span>ia di Euro. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>La voce altri ricavi operat<span class=\"_ _1\"></span>ivi \u00e8 cos\u00ec compos<span class=\"_ _1\"></span>ta:  <span class=\"_ _1\"></span> La voce \u201cC<span class=\"_ _1\"></span>ontributi <span class=\"_ _1\"></span>in c<span class=\"_ _1\"></span>onto eserc<span class=\"_ _1\"></span>izio e <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>conto cap<span class=\"_ _1\"></span>itale\u201d inc<span class=\"_ _1\"></span>lude cr<span class=\"_ _1\"></span>editi di <span class=\"_ _1\"></span>imposta<span class=\"_ _1\"></span> per <span class=\"_ _11\"></span><span class=\"ff2\">761 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro </span>341 <span class=\"_ _1\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uale <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>comp<span class=\"_ _1\"></span>etenza <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontributo <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fondo <span class=\"_ _8\"></span>perduto <span class=\"_ _1\"></span>conc<span class=\"_ _1\"></span>esso <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>fro<span class=\"_ _1\"></span>nte <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>Bando<span class=\"_ _26a\"> </span>del <span class=\"_ _8\"></span>Ministero<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>dello <span class=\"_ _11\"></span>Sviluppo <span class=\"_ _11\"></span>Economi<span class=\"ff5\">co <span class=\"_ _11\"></span>\u201cIndustria <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ostenibile <span class=\"_ _11\"></span>\u2013</span> <span class=\"_ _11\"></span><span class=\"ff5\">ICT <span class=\"_ _8\"></span>&amp; <span class=\"_ _11\"></span>Agenda <span class=\"_ _8\"></span>Digita<span class=\"_ _1\"></span>le\u201d <span class=\"_ _8\"></span>(finanz<span class=\"_ _1\"></span>iamenti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>egl<span class=\"_ _26a\"> </span></span>interventi per la promozi<span class=\"_ _1\"></span>one di Grandi Pr<span class=\"_ _1\"></span>ogetti di R&amp;S<span class=\"_ _1\"></span>) alla Capogruppo E<span class=\"_ _1\"></span>mak.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _199\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _24\"> </span>E<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _1\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>av<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>ne<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>en<span class=\"_ _3\"></span>dita (a<span class=\"_ _3\"></span>l <span class=\"_ _1\"></span>ne<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>ed<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>abb<span class=\"_ _2\"></span>uon<span class=\"_ _2\"></span>i) <span class=\"_ _65\"> </span>60<span class=\"_ _3\"></span>0.53<span class=\"_ _2\"></span>8<span class=\"_ _e1\"> </span>58<span class=\"_ _3\"></span>3.12<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span>av<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _2\"></span>r ad<span class=\"_ _3\"></span>de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ost<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>aspo<span class=\"_ _3\"></span>rto<span class=\"_ _19a\"> </span>6.45<span class=\"_ _2\"></span>9<span class=\"_ _c9\"> </span>6.71<span class=\"_ _3\"></span>4<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>esi<span class=\"_ _26a\"> </span>(<span class=\"_ _3\"></span>1.27<span class=\"_ _3\"></span>4)<span class=\"_ _e3\"> </span>(<span class=\"_ _3\"></span>1.53<span class=\"_ _2\"></span>5)<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>le<span class=\"_ _19b\"> </span>60<span class=\"_ _2\"></span>5.723<span class=\"_ _19c\"> </span>58<span class=\"_ _2\"></span>8.299<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o es<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>e in c<span class=\"_ _8\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ap<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>ale<span class=\"_ _35\"> </span>1<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>376<span class=\"_ _131\"> </span>2.023<span class=\"_ _26a\"> </span>Aff<span class=\"_ _2\"></span>it<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>650<span class=\"_ _65\"> </span>558<span class=\"_ _26a\"> </span>Pl<span class=\"_ _1\"></span>usv<span class=\"_ _9\"></span>ale<span class=\"_ _3\"></span>nze <span class=\"_ _1\"></span>da<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e di i<span class=\"_ _1\"></span>mmobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ater<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>75<span class=\"_ _17b\"> </span>221<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>pu<span class=\"_ _3\"></span>bb<span class=\"_ _3\"></span>lic<span class=\"_ _8\"></span>it<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _26a\"> </span>171<span class=\"_ _65\"> </span>192<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>en<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>a azi<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>le<span class=\"_ _26a\"> </span>129<span class=\"_ _65\"> </span>123<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o s<span class=\"_ _1\"></span>pese di <span class=\"_ _1\"></span>ga<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nzia<span class=\"_ _26a\"> </span>78<span class=\"_ _16d\"> </span>68<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>imbor<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>i <span class=\"_ _1\"></span>ass<span class=\"_ _8\"></span>ic<span class=\"_ _1\"></span>ur<span class=\"_ _3\"></span>ativ<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>56<span class=\"_ _16d\"> </span>33<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>amminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>144<span class=\"_ _19d\"> </span>82<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri ricav<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ativ<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>2.07<span class=\"_ _3\"></span>4 <span class=\"_ _66\"> </span>1.810<span class=\"_ _3\"></span> Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>4.75<span class=\"_ _3\"></span>3<span class=\"_ _c9\"> </span>5.110<span class=\"_ _26a\"> </span>Al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _8\"></span>dello <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>corso <span class=\"_ _8\"></span>esercizio <span class=\"_ _8\"></span>tale <span class=\"_ _8\"></span>voce <span class=\"_ _8\"></span>includeva <span class=\"_ _11\"></span>620 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uali <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ussidi <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>fondo <span class=\"_ _8\"></span>perdu<span class=\"_ _1\"></span>to<span class=\"_ _26a\"> </span> ottenuti  della  societ\u00e0  Va<span class=\"_ _1\"></span>lley  nell\u2019ambito  dei<span class=\"_ _1\"></span>  programmi  di  sostegno <span class=\"_ _90\"> </span>al<span class=\"_ _1\"></span>le  imprese  per <span class=\"_ _90\"> </span>affront<span class=\"_ _1\"></span>are  la  crisi<span class=\"_ _1\"></span> pandemica<span class=\"_ _26a\"> </span>.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-434": {
   "value": "La voce \u201cC<span class=\"_ _1\"></span>ontributi <span class=\"_ _1\"></span>in c<span class=\"_ _1\"></span>onto eserc<span class=\"_ _1\"></span>izio e <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>conto cap<span class=\"_ _1\"></span>itale\u201d inc<span class=\"_ _1\"></span>lude cr<span class=\"_ _1\"></span>editi di <span class=\"_ _1\"></span>imposta<span class=\"_ _1\"></span> per <span class=\"_ _11\"></span><span class=\"ff2\">761 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro </span><span class=\"ff2\">e<span class=\"_ _1\"></span> </span>341 <span class=\"_ _1\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uale <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>comp<span class=\"_ _1\"></span>etenza <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontributo <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fondo <span class=\"_ _8\"></span>perduto <span class=\"_ _1\"></span>conc<span class=\"_ _1\"></span>esso <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>fro<span class=\"_ _1\"></span>nte <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>Bando<span class=\"_ _26a\"> </span> del <span class=\"_ _8\"></span>Ministero<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>dello <span class=\"_ _11\"></span>Sviluppo <span class=\"_ _11\"></span>Economi<span class=\"ff5\">co <span class=\"_ _11\"></span>\u201cIndustria <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ostenibile <span class=\"_ _11\"></span>\u2013</span> <span class=\"_ _11\"></span><span class=\"ff5\">ICT <span class=\"_ _8\"></span>&amp; <span class=\"_ _11\"></span>Agenda <span class=\"_ _8\"></span>Digita<span class=\"_ _1\"></span>le\u201d <span class=\"_ _8\"></span>(finanz<span class=\"_ _1\"></span>iamenti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>egl<span class=\"_ _26a\"> </span></span><span class=\"ff5\">i<span class=\"_ _26a\"> </span></span><span class=\"ff5\"> </span>interventi per la promozi<span class=\"_ _1\"></span>one di Grandi Pr<span class=\"_ _1\"></span>ogetti di R&amp;S<span class=\"_ _1\"></span>) alla Capogruppo E<span class=\"_ _1\"></span>mak.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGovernmentGrantsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-388": {
   "value": "La voce \u201cC<span class=\"_ _1\"></span>ontributi <span class=\"_ _1\"></span>in c<span class=\"_ _1\"></span>onto eserc<span class=\"_ _1\"></span>izio e <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>conto cap<span class=\"_ _1\"></span>itale\u201d inc<span class=\"_ _1\"></span>lude cr<span class=\"_ _1\"></span>editi di <span class=\"_ _1\"></span>imposta<span class=\"_ _1\"></span> per <span class=\"_ _11\"></span><span class=\"ff2\">761 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro </span>341 <span class=\"_ _1\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>q<span class=\"_ _1\"></span>uale <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>comp<span class=\"_ _1\"></span>etenza <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ontributo <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fondo <span class=\"_ _8\"></span>perduto <span class=\"_ _1\"></span>conc<span class=\"_ _1\"></span>esso <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>fro<span class=\"_ _1\"></span>nte <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span>Bando<span class=\"_ _26a\"> </span>del <span class=\"_ _8\"></span>Ministero<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>dello <span class=\"_ _11\"></span>Sviluppo <span class=\"_ _11\"></span>Economi<span class=\"ff5\">co <span class=\"_ _11\"></span>\u201cIndustria <span class=\"_ _8\"></span>S<span class=\"_ _1\"></span>ostenibile <span class=\"_ _11\"></span>\u2013</span> <span class=\"_ _11\"></span><span class=\"ff5\">ICT <span class=\"_ _8\"></span>&amp; <span class=\"_ _11\"></span>Agenda <span class=\"_ _8\"></span>Digita<span class=\"_ _1\"></span>le\u201d <span class=\"_ _8\"></span>(finanz<span class=\"_ _1\"></span>iamenti <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>egl<span class=\"_ _26a\"> </span></span>interventi per la promozi<span class=\"_ _1\"></span>one di Grandi Pr<span class=\"_ _1\"></span>ogetti di R&amp;S<span class=\"_ _1\"></span>) alla Capogruppo E<span class=\"_ _1\"></span>mak.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _8f\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>in <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o es<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>io <span class=\"_ _1\"></span>e in c<span class=\"_ _8\"></span>on<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ap<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>ale<span class=\"_ _35\"> </span>1<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>376<span class=\"_ _131\"> </span>2.023<span class=\"_ _26a\"> </span>Aff<span class=\"_ _2\"></span>it<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>650<span class=\"_ _65\"> </span>558<span class=\"_ _26a\"> </span>Pl<span class=\"_ _1\"></span>usv<span class=\"_ _9\"></span>ale<span class=\"_ _3\"></span>nze <span class=\"_ _1\"></span>da<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _8\"></span>ess<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e di i<span class=\"_ _1\"></span>mmobiliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>ater<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>75<span class=\"_ _17b\"> </span>221<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>rib<span class=\"_ _3\"></span>uti <span class=\"_ _1\"></span>pu<span class=\"_ _3\"></span>bb<span class=\"_ _3\"></span>lic<span class=\"_ _8\"></span>it<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _26a\"> </span>171<span class=\"_ _65\"> </span>192<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>en<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>a azi<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>da<span class=\"_ _3\"></span>le<span class=\"_ _26a\"> </span>129<span class=\"_ _65\"> </span>123<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o s<span class=\"_ _1\"></span>pese di <span class=\"_ _1\"></span>ga<span class=\"_ _3\"></span>ra<span class=\"_ _3\"></span>nzia<span class=\"_ _26a\"> </span>78<span class=\"_ _16d\"> </span>68<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>imbor<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>i <span class=\"_ _1\"></span>ass<span class=\"_ _8\"></span>ic<span class=\"_ _1\"></span>ur<span class=\"_ _3\"></span>ativ<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>56<span class=\"_ _16d\"> </span>33<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>ecupe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>o c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>amminis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ra<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>iv<span class=\"_ _c\"></span>i<span class=\"_ _26a\"> </span>144<span class=\"_ _19d\"> </span>82<span class=\"_ _26a\"> </span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ri ricav<span class=\"_ _c\"></span>i <span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>ativ<span class=\"_ _9\"></span>i<span class=\"_ _26a\"> </span>2.07<span class=\"_ _3\"></span>4 <span class=\"_ _66\"> </span>1.810<span class=\"_ _3\"></span> Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>4.75<span class=\"_ _3\"></span>3<span class=\"_ _c9\"> </span>5.110<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-389": {
   "value": "Al 31 dicembre dello scorso esercizio tale voce includeva 620 migliaia di Euro quali sussidi a fondo perduto  ottenuti  della  societ\u00e0  Valley  nell\u2019ambito  dei  programmi  di  sostegno  alle  imprese  per  affrontare  la  crisi pandemica ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-325": {
   "value": "11. Costi per materie prime e di consumo Il dettaglio della voce costo per materie prime e di consumo \u00e8 il seguente: La contrazione delle vendite a partire dalla seconda parte dell\u2019anno, la normalizzazione delle c approvvigionamento e della logistica internazionale, hanno portato ad una revisione delle strategie rispetto al precedente esercizio. In particolare, l\u2019elevato livello delle scorte e la minore visibilit\u00e0 lato hanno comportato una revisione dei livelli di scorte necessari ed una conseguente modifica delle c acquisto. La combinazione di queste circostanze ha generato una riduzione del fabbisogno di materie prim finiti rispetto al precedente esercizio, con particolare impatto nella parte finale dell\u2019anno. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Materie prime, semilavorati e prodotti finiti 327.422 351.140 Altri acquisti 4.106 3.644 Costi di sviluppo capitalizzati - (47) Totale 331.528 354.737 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-390": {
   "value": "11. Costi per materie prime e di consumo Il dettaglio della voce costo per materie prime e di consumo \u00e8 il seguente: La contrazione delle vendite a partire dalla seconda parte dell\u2019anno, la normalizzazione delle c approvvigionamento e della logistica internazionale, hanno portato ad una revisione delle strategie rispetto al precedente esercizio. In particolare, l\u2019elevato livello delle scorte e la minore visibilit\u00e0 lato hanno comportato una revisione dei livelli di scorte necessari ed una conseguente modifica delle c acquisto. La combinazione di queste circostanze ha generato una riduzione del fabbisogno di materie prim finiti rispetto al precedente esercizio, con particolare impatto nella parte finale dell\u2019anno. 12. Costi del personale Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Materie prime, semilavorati e prodotti finiti 327.422 351.140 Altri acquisti 4.106 3.644 Costi di sviluppo capitalizzati - (47) Totale 331.528 354.737 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCostOfSalesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-419": {
   "value": "11. Costi per materie prime e di consumo Il dettaglio della voce costo per materie prime e di consumo \u00e8 il seguente: La contrazione delle vendite a partire dalla seconda parte dell\u2019anno, la normalizzazione delle c ondizioni di approvvigionamento e della logistica internazionale, hanno portato ad una revisione delle strategie di acquisto rispetto al precedente esercizio. In particolare, l\u2019elevato livello delle scorte e la minore visibilit\u00e0 lato  domanda, hanno comportato una revisione dei livelli di scorte necessari ed una conseguente modifica delle c ondizioni di acquisto. La combinazione di queste circostanze ha generato una riduzione del fabbisogno di materie prim e e prodotti finiti rispetto al precedente esercizio, con particolare impatto nella parte finale dell\u2019anno. 12. Costi del personale Il dettaglio della voce \u00e8 il seguente: La variazione di area di consolidamento ha inciso sul costo del personale per circa 1.040 migliaia di Euro. Nel corso dell\u2019esercizio 2022 sono stati capitalizzati tra le immobilizzazioni immateriali costi del personale per 527 migliaia di Euro (1.219 migliaia di Euro al 31 dicembre 2021), riferiti principalmente ai costi per lo sviluppo di nuovi prodotti. I  costi  per  Indennit\u00e0  degli  Amministratori  sono  in  contrazione  per  effetto  della  minor  incidenza  della componente variabile legata alle performances, mentre i minori volumi di produzione hanno portato ad un calo delle spese per personale interinale. La diminuzione dell\u2019ammontare dei costi di sviluppo capitalizzati dipende dalla conclusione a fine del 2021 di un importante progetto avente spese con requisiti eleggibili per la capitalizzazione.   I costi dell\u2019esercizio includono oneri di riorganizzazione per 204 migliaia di Euro, riferiti a incentivi all\u2019esodo corrisposti da alcune societ\u00e0 del Gruppo. Nell\u2019esercizio precedente tali oneri ammontavano a 144 migliaia di Euro. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Materie prime, semilavorati e prodotti finiti 327.422 351.140 Altri acquisti 4.106 3.644 Costi di sviluppo capitalizzati - (47) Totale 331.528 354.737 Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Salari e stipendi 67.731 65.560 Contributi sociali 18.951 18.506 Costi per TFR 2.985 2.663 Altri costi del personale 2.772 2.252 Costi di sviluppo capitalizzati (527)  (1.219) Indennit\u00e0 degli Amministratori 1.239 2.208 Spese per personale interinale 6.368 8.261 Totale 99.519 98.231 Il dettaglio per paese del personale \u00e8 esposto al capitolo 7 della Relazione sulla gestione.  13. Altri costi operativi Il dettaglio della voce \u00e8 il seguente: I costi per servizi hanno risentito negativamente dell\u2019aumento dei prezzi di gas ed energia registrato a livello macroeconomico, per circa 1,7 milioni di Euro. Le spese di viaggio aumentano rispetto al 2021 per effetto della piena ripresa delle trasferte dopo gli anni caratterizzati dalla pandemia da COVID-19, come pure i costi per eventi aziendali e fiere, inclusi nella voce Altri servizi, che registrano un incremento di circa 1,2 milioni di Euro. La riduzione delle spese per trasporti si collega ai minori volumi in acquisto e vendita, pur in presenza di tariffe a livelli molto elevati per larga parte dell\u2019esercizio. Tali costi hanno toccato livelli record, per poi ridursi a fine esercizio con una tendenza alla riduzione ancora in corso. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Lavorazioni esterne 17.233 18.300 Manutenzioni 7.104 6.595 Trasporti e dazi 37.601 39.492 Promozione e pubblicit\u00e0 5.119 4.158 Provvigioni 9.328 9.507 Spese di viaggio 2.753 1.451 Spese postali e di telecomunicazione 841 835 Consulenze 6.212 6.146 Forza motrice 4.012 2.925 Utenze varie 1.907 1.271 Servizi e spese bancarie 787 774 Costi per garanzia post vendita 1.663 1.454 Assicurazioni 1.850 1.669 Altri servizi  10.528 8.299 Costi di sviluppo capitalizzati  (147)  (52) Costi per servizi 106.791 102.824 Affitti, noleggi e godimento dei beni di terzi 3.723 3.246 Accantonamenti (nota 34) 597  1.000 Perdite su crediti 194 265 Accantonamento f.do svalutazione crediti (nota 24) 1.152 750 Minusvalenze da cessioni di immobilizzazioni materiali 7 64 Altre imposte (non sul reddito) 1.812 1.600 Contributi 148 65 Costi diversi 1.716 2.095 Altri costi operativi 5.029 4.839 Totale 116.140 111.909 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-326": {
   "value": "12. Costi del personale Il dettaglio della voce \u00e8 il seguente: La variazione di area di consolidamento ha inciso sul costo del personale per circa 1.040 migliaia di Euro. Nel corso dell\u2019esercizio 2022 sono stati capitalizzati tra le immobilizzazioni immateriali costi del personale per 527 migliaia di Euro (1.219 migliaia di Euro al 31 dicembre 2021), riferiti principalmente ai costi per lo sviluppo di nuovi prodotti. I  costi  per  Indennit\u00e0  degli  Amministratori  sono  in  contrazione  per  effetto  della  minor  incidenza  della componente variabile legata alle performances, mentre i minori volumi di produzione hanno portato ad un calo delle spese per personale interinale. La diminuzione dell\u2019ammontare dei costi di sviluppo capitalizzati dipende dalla conclusione a fine del 2021 di un importante progetto avente spese con requisiti eleggibili per la capitalizzazione.   I costi dell\u2019esercizio includono oneri di riorganizzazione per 204 migliaia di Euro, riferiti a incentivi all\u2019esodo corrisposti da alcune societ\u00e0 del Gruppo. Nell\u2019esercizio precedente tali oneri ammontavano a 144 migliaia di Euro. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Salari e stipendi 67.731 65.560 Contributi sociali 18.951 18.506 Costi per TFR 2.985 2.663 Altri costi del personale 2.772 2.252 Costi di sviluppo capitalizzati (527)  (1.219) Indennit\u00e0 degli Amministratori 1.239 2.208 Spese per personale interinale 6.368 8.261 Totale 99.519 98.231 Il dettaglio per paese del personale \u00e8 esposto al capitolo 7 della Relazione sulla gestione. 33. Benefici a lungo termine a favore dei dipendenti  Al 31 dicembre 2022 i benefici a lungo termine a favore dei dipendenti si riferiscono principalmente al debito attualizzato per trattamento di fine rapporto da corrispondere al termine della vita lavorativa del dipendente per un importo di 5.829 migliaia di Euro, contro 7.000 migliaia di Euro al 31 dicembre 2021. La valutazione del TFR effettuata secondo il metodo del debito nominale in essere alla data di chiusura risulterebbe pari ad un ammontare di 6.096 migliaia di Euro contro 6.209 migliaia di Euro al 31 dicembre 2021.  Movimento della passivit\u00e0 iscritta nello stato patrimoniale: Le principali ipotesi economico finanziarie utilizzate per il calcolo del TFR secondo quanto previsto dallo IAS 19 sono le seguenti:  Le ipotesi demografiche fanno riferimento alle pi\u00f9 recenti statistiche pubblicate dall\u2019Istat. Nell\u2019esercizio 2023 le erogazioni si stimano in linea con l\u2019esercizio 2022. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Saldo iniziale dell'obbligazione 7.500 7.608 Costo corrente del servizio e altri accantonamenti 126 172 (Utili)/perdite attuariali (741) 233 Oneri finanziari sulle obbligazioni assunte (nota 15) 28 - Variazione area di consolidamento - 121 Erogazioni (622) (634) Saldo finale dell' obbligazione 6.291 7.500 Esercizio 2022 Esercizio 2021 Tasso annuo inflazione 2,30% 1,75% Tasso di attualizzazione   3,63% 0,44% Frequenza di licenziamento  3,00% 3,00% ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-391": {
   "value": "Il dettaglio per paese del personale \u00e8 esposto al capitolo 7 della Relazione sulla gestione. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-327": {
   "value": "13. Altri costi operativi Il dettaglio della voce \u00e8 il seguente: I costi per servizi hanno risentito negativamente dell\u2019aumento dei prezzi di gas ed energia registrato a livello macroeconomico, per circa 1,7 milioni di Euro. Le spese di viaggio aumentano rispetto al 2021 per effetto della piena ripresa delle trasferte dopo gli anni caratterizzati dalla pandemia da COVID-19, come pure i costi per eventi aziendali e fiere, inclusi nella voce Altri servizi, che registrano un incremento di circa 1,2 milioni di Euro. La riduzione delle spese per trasporti si collega ai minori volumi in acquisto e vendita, pur in presenza di tariffe a livelli molto elevati per larga parte dell\u2019esercizio. Tali costi hanno toccato livelli record, per poi ridursi a fine esercizio con una tendenza alla riduzione ancora in corso. Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Lavorazioni esterne 17.233 18.300 Manutenzioni 7.104 6.595 Trasporti e dazi 37.601 39.492 Promozione e pubblicit\u00e0 5.119 4.158 Provvigioni 9.328 9.507 Spese di viaggio 2.753 1.451 Spese postali e di telecomunicazione 841 835 Consulenze 6.212 6.146 Forza motrice 4.012 2.925 Utenze varie 1.907 1.271 Servizi e spese bancarie 787 774 Costi per garanzia post vendita 1.663 1.454 Assicurazioni 1.850 1.669 Altri servizi  10.528 8.299 Costi di sviluppo capitalizzati  (147)  (52) Costi per servizi 106.791 102.824 Affitti, noleggi e godimento dei beni di terzi 3.723 3.246 Accantonamenti (nota 34) 597  1.000 Perdite su crediti 194 265 Accantonamento f.do svalutazione crediti (nota 24) 1.152 750 Minusvalenze da cessioni di immobilizzazioni materiali 7 64 Altre imposte (non sul reddito) 1.812 1.600 Contributi 148 65 Costi diversi 1.716 2.095 Altri costi operativi 5.029 4.839 Totale 116.140 111.909 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-328": {
   "value": "14. Svalutazioni e ammortamenti Il dettaglio della voce \u00e8 il seguente: Le svalutazioni e ammortamenti al 31 dicembre 2022 ammontano a 29.324 migliaia di Euro di cui 2.957 migliai iscritti quale perdita per riduzione del valore dell\u2019avviamento riferito alla societ\u00e0 Tailong (Zhuhai) Machinery Manufacturing Equipment Ltd. Tale perdita \u00e8 stata rilevata a seguito della applicazione della procedura impairment test per i cui dettagli si rimanda alla successiva Nota 21. La voce \u201cAmmortamento dei diritti d\u2019uso\u201d accoglie l\u2019ammortamento dei diritti d\u2019uso iscritti tra le attivit\u00e0 non correnti in applicazione del principio contabile IFRS 16 \u2013 Leases. L\u2019ammortamento \u00e8 calcolato sulla base della durata dei contratti, tenendo in considerazione la ragionevolezza dei probabili rinnovi laddove siano contrattualmente previsti.  Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Ammortamento delle immobilizzazioni immateriali (nota 19) 5.880 5.361 Ammortamento delle immobilizzazioni materiali (nota 18) 13.842 12.949 Ammortamento dei diritti d'uso (nota 20) 6.645 6.082 Riduzione di valore dell\u02bcavviamento (nota 21) 2.957 - Totale 29.324 24.392 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-329": {
   "value": "15. Proventi ed one<span class=\"_ _1\"></span>ri finanziari<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>proventi finanz<span class=\"_ _1\"></span>iari\u201d</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span>I <span class=\"_ _8\"></span>\u201cProventi <span class=\"_ _8\"></span>finanziari <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>deguamento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _8\"></span>stima <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>debito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>impe<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>acquisto <span class=\"_ _8\"></span>quote <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>esidue <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _26a\"> </span>controllate\u201d <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>all<span class=\"_ _1\"></span>\u2019adeguamento <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>l\u2019acquisto <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>residuo <span class=\"_ _1\"></span>10% <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>LLP:<span class=\"_ _26a\"> </span>all\u2019inizio di settembre 2022 le part<span class=\"ff2\">i hanno concordato </span><span class=\"ls21\">l\u2019</span><span class=\"ff2\">eserc<span class=\"_ _1\"></span>izio della Put &amp; <span class=\"_ _3\"></span>Call option per il 4% <span class=\"_ _3\"></span>della societ\u00e0,<span class=\"_ _26a\"> </span></span>definendo <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferimento, <span class=\"_ _8\"></span>ancora <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>residu<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>6% <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>imane <span class=\"_ _1\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Put &amp; Call <span class=\"_ _1\"></span>option ed <span class=\"_ _1\"></span>\u00e8 valorizz<span class=\"_ _1\"></span>ato sulla base <span class=\"_ _1\"></span>dei risultat<span class=\"_ _1\"></span>i economi<span class=\"_ _1\"></span><span class=\"ls11\">co</span>-f<span class=\"_ _1\"></span>inanziari della <span class=\"_ _1\"></span>societ\u00e0 e isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>alla v<span class=\"_ _1\"></span>oce<span class=\"_ _26a\"> </span>Debiti per acquisto partec<span class=\"_ _1\"></span>ipazioni tra le <span class=\"_ _1\"></span>passivit\u00e0 corre<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span> Con <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>proventi <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>adeguamento <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>hiusura <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>strumenti <span class=\"_ _11\"></span>derivati <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rimanda <span class=\"_ _11\"></span>alla<span class=\"_ _26a\"> </span>successiva Nota 23.<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>oneri finanziar<span class=\"_ _1\"></span>i\u201d</span> \u00e8 il seg<span class=\"_ _1\"></span>uente:<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ade<span class=\"_ _3\"></span>gu<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>nto al <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>air v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>e e c<span class=\"_ _1\"></span>hius<span class=\"_ _1\"></span>ur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>gli s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rume<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>rtur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>risc<span class=\"_ _1\"></span>hio t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ess<span class=\"_ _8\"></span>e<span class=\"_ _26a\"> </span>2.81<span class=\"_ _3\"></span>3<span class=\"_ _1ad\"> </span><span class=\"ls40\">669<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> 259<span class=\"_ _c8\"> </span>96<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>onti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>ba<span class=\"_ _3\"></span>ncari e post<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>261<span class=\"_ _eb\"> </span>109<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>a de<span class=\"_ _3\"></span>bito <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>536<span class=\"_ _b2\"> </span><span class=\"ls41\"> -<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>ov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>138<span class=\"_ _eb\"> </span>129<span class=\"_ _26a\"> </span>Prove<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>7<span class=\"_ _1ae\"> </span>1.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>L\u2019aumento <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _1\"></span>\u201cInter<span class=\"_ _1\"></span>essi <span class=\"_ _1\"></span>su <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _1\"></span>verso <span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>nche\u201d <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>correlato <span class=\"_ _1\"></span>all\u2019incr<span class=\"_ _1\"></span>emento <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>tassi di interesse e de<span class=\"_ _1\"></span>ll\u2019indebitamento bancari<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli <span class=\"_ _1e\"> </span>\u201c<span class=\"_ _1\"></span>Oneri  finanziari <span class=\"_ _1f\"> </span>per  adeguamento  stima <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>el  <span class=\"ff2\">debito  per  i<span class=\"_ _3\"></span>mpegno  acquisto  quote <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>esidue  di <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0<span class=\"_ _26a\"> </span></span>controllate\u201d <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _3\"></span>all\u2019adeguament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>debiti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>l\u2019acquisto <span class=\"_ _3\"></span>delle residue <span class=\"_ _2\"></span>quote <span class=\"_ _3\"></span>delle <span class=\"_ _3\"></span>societ\u00e0:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>Sistemas <span class=\"_ _23\"></span>Eletr\u00f4nicos <span class=\"_ _23\"></span>S.A, <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _20\"></span>di <span class=\"_ _23\"> </span><span class=\"ff7\">Put <span class=\"_ _20\"></span>&amp; <span class=\"_ _23\"></span>Call <span class=\"_ _20\"></span>option <span class=\"_ _23\"></span><span class=\"ff5\">per <span class=\"_ _20\"></span>l\u2019acquisto <span class=\"_ _23\"> </span>del <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _20\"> </span>9% <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span></span></span></span>societ\u00e0, <span class=\"_ _1f\"> </span>con <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span>eguamento  nell\u2019esercizio <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1f\"> </span>a <span class=\"_ _1e\"> </span>797  migliaia <span class=\"_ _1e\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1e\"> </span>(2.<span class=\"_ _1\"></span>483  mi<span class=\"_ _3\"></span>gliaia  di  <span class=\"ff2\">Euro<span class=\"_ _26a\"> </span></span>nell\u2019esercizio precede<span class=\"_ _1\"></span>nte); <span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, oggetto di <span class=\"ff7\">Put &amp; Call option<span class=\"_ _1\"></span></span> <span class=\"ff5\">che regola l\u2019acquisto del restante 49%, con un adeguame<span class=\"_ _1\"></span></span>nto<span class=\"_ _1\"></span> </span>nell\u2019esercizio pari a 1.<span class=\"_ _1\"></span>603 migliaia d<span class=\"_ _1\"></span>i Euro (1.478 migl<span class=\"_ _1\"></span>iaia di <span class=\"_ _1\"></span><span class=\"ff2\">E</span>uro nell\u2019es<span class=\"_ _1\"></span>ercizio precedente).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019adeguamento di tali debiti, inclusi tra le passivit\u00e0 finanziarie, \u00e8 conseguenz<span class=\"_ _1\"></span>a dei migliori risultati economico<span class=\"_ _8\"></span><span class=\"ff2\">-<span class=\"_ _26a\"> </span></span>finanziari <span class=\"_ _23\"> </span>reg<span class=\"_ _1\"></span>istrati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _23\"> </span>targ<span class=\"_ _8\"></span><span class=\"ff5\">et <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>dell\u2019aggiorn<span class=\"_ _1\"></span>amento <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>Pia<span class=\"_ _1\"></span>ni <span class=\"_ _23\"> </span>plurie<span class=\"_ _1\"></span>nnali <span class=\"_ _23\"> </span>ori<span class=\"_ _1\"></span>ginariamente <span class=\"_ _21\"> </span>previsti,<span class=\"_ _26a\"> </span></span>nonch\u00e9 all\u2019allungamento del periodo di esercizio dell\u2019opzione con riferimento a Markusson. Il Prezzo delle Put<span class=\"_ _26a\"> </span>&amp; Call option, infatti, <span class=\"_ _1\"></span>\u00e8 correlato agli indic<span class=\"_ _1\"></span>atori economici e fin<span class=\"_ _1\"></span>anziar<span class=\"_ _1\"></span>i futuri <span class=\"_ _1\"></span>delle societ\u00e0 acquisite<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> La <span class=\"_ _26\"> </span>voce <span class=\"_ _26\"> </span>\u201cOneri <span class=\"_ _26\"> </span>f<span class=\"_ _1\"></span>inanziari <span class=\"_ _27\"> </span><span class=\"ff7\">Leases</span>\u201d <span class=\"_ _27\"> </span>si <span class=\"_ _26\"> </span>riferisce <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>gli <span class=\"_ _26\"> </span>interessi <span class=\"_ _26\"> </span>su<span class=\"_ _1\"></span>lle <span class=\"_ _26\"> </span>passivit\u00e0 <span class=\"_ _27\"> </span>finanziar<span class=\"_ _1\"></span>ie <span class=\"_ _26\"> </span>contabilizzate <span class=\"_ _27\"> </span>in<span class=\"_ _26a\"> </span>applicazione al princ<span class=\"_ _1\"></span>ipio contabile IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>Per maggiori dettag<span class=\"_ _1\"></span>li sugli oneri su s<span class=\"_ _1\"></span>trumenti derivati di<span class=\"_ _1\"></span> copertur<span class=\"_ _1\"></span>a tasso si riman<span class=\"_ _1\"></span>da alla successiva Not<span class=\"_ _1\"></span>a 23.<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>utili e perdite su c<span class=\"_ _1\"></span>ambi\u201d<span class=\"_ _1\"></span></span> \u00e8 il seguente:<span class=\"_ _1\"></span> La <span class=\"_ _8\"></span>gest<span class=\"_ _1\"></span>ione <span class=\"_ _11\"></span>valutaria <span class=\"_ _11\"></span>2022 <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>positiva <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>1.895 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _11\"></span>contro <span class=\"_ _11\"></span>un <span class=\"_ _11\"></span>valore <span class=\"_ _11\"></span>positivo <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>5<span class=\"_ _1\"></span>89 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span>Euro <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ello <span class=\"_ _21\"> </span>sc<span class=\"_ _1\"></span>orso <span class=\"_ _1e\"> </span>esercizio. <span class=\"_ _1e\"> </span>La <span class=\"_ _21\"> </span>g<span class=\"_ _1\"></span>estione <span class=\"_ _1e\"> </span>cambi <span class=\"_ _1e\"> </span>ha <span class=\"_ _1e\"> </span>risentito <span class=\"_ _1e\"> </span>positivamen<span class=\"_ _1\"></span>te <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>alla <span class=\"_ _1e\"> </span>rivalutazione <span class=\"_ _1e\"> </span>del <span class=\"_ _1e\"> </span>dollaro<span class=\"_ _26a\"> </span>statunitense e del r<span class=\"_ _1\"></span>eal brasiliano rispett<span class=\"_ _1\"></span>o all\u2019Euro.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>med<span class=\"_ _3\"></span>io l<span class=\"_ _1\"></span>un<span class=\"_ _3\"></span>go<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ba<span class=\"_ _3\"></span>nche<span class=\"_ _26a\"> </span>3.67<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>1.852<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ma deb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>2.40<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>4.569<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari Le<span class=\"_ _3\"></span>ases<span class=\"_ _26a\"> </span>1.06<span class=\"_ _3\"></span>5<span class=\"_ _1ad\"> </span><span class=\"ls42\">927<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al f<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alue<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>hiusur<span class=\"_ _3\"></span>a deg<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>ati<span class=\"_ _26a\"> </span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>intere<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>130<span class=\"_ _eb\"> </span>535<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>br<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>e t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>mi<span class=\"_ _1\"></span>ne<span class=\"_ _3\"></span> v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ban<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>he<span class=\"_ _26a\"> </span>396<span class=\"_ _eb\"> </span>136<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dipe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 33)<span class=\"_ _26a\"> </span>28<span class=\"_ _cb\"> </span><span class=\"ls43\"> -<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _3\"></span>liz<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>biti<span class=\"_ _1af\"> </span><span class=\"ls42\">47<span class=\"_ _b2\"> </span>25<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>824<span class=\"_ _eb\"> </span>567<span class=\"_ _26a\"> </span>One<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>8.56<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>8.611<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _104\"> </span>E<span class=\"_ _3\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rc<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>re<span class=\"_ _3\"></span>alizz<span class=\"_ _8\"></span>a<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i/<span class=\"_ _1\"></span>e s<span class=\"_ _1\"></span>u s<span class=\"_ _8\"></span>ald<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ommer<span class=\"_ _2\"></span>c<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>987 <span class=\"_ _170\"> </span>632<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uame<span class=\"_ _3\"></span>nto s<span class=\"_ _1\"></span>aldi c<span class=\"_ _1\"></span>ommer<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>iali<span class=\"_ _26a\"> </span>675 <span class=\"_ _170\"> </span>165<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u s<span class=\"_ _1\"></span>aldi f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>528 <span class=\"_ _1b0\"> </span><span class=\"ls1\">(<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>7)<span class=\"_ _26a\"> </span></span>U<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ili <span class=\"_ _1\"></span>/<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>(Per<span class=\"_ _2\"></span>dit<span class=\"_ _1\"></span>e)<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>amb<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>u v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>azione<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>di c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> (<span class=\"_ _3\"></span>29<span class=\"_ _3\"></span>5)<span class=\"_ _1b1\"> </span>(<span class=\"_ _3\"></span>51<span class=\"_ _3\"></span>)<span class=\"_ _26a\"> </span>U<span class=\"_ _3\"></span>til<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>(pe<span class=\"_ _1\"></span>rdi<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>e<span class=\"_ _8\"></span>) s<span class=\"_ _9\"></span>u <span class=\"_ _1\"></span>ca<span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>bi<span class=\"_ _26a\"> </span>1.89<span class=\"_ _3\"></span>5 <span class=\"_ _d5\"> </span><span class=\"ls44\">589<span class=\"_ _26a\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-435": {
   "value": "15. Proventi ed one<span class=\"_ _1\"></span>ri finanziari<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>proventi finanz<span class=\"_ _1\"></span>iari\u201d</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span>I <span class=\"_ _8\"></span>\u201cProventi <span class=\"_ _8\"></span>finanziari <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>deguamento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _8\"></span>stima <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>debito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>impe<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>acquisto <span class=\"_ _8\"></span>quote <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>esidue <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _26a\"> </span>controllate\u201d <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>all<span class=\"_ _1\"></span>\u2019adeguamento <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>l\u2019acquisto <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>residuo <span class=\"_ _1\"></span>10% <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>LLP:<span class=\"_ _26a\"> </span>all\u2019inizio di settembre 2022 le part<span class=\"ff2\">i hanno concordato </span><span class=\"ls21\">l\u2019</span><span class=\"ff2\">eserc<span class=\"_ _1\"></span>izio della Put &amp; <span class=\"_ _3\"></span>Call option per il 4% <span class=\"_ _3\"></span>della societ\u00e0,<span class=\"_ _26a\"> </span></span>definendo <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferimento, <span class=\"_ _8\"></span>ancora <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>residu<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>6% <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>imane <span class=\"_ _1\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Put &amp; Call <span class=\"_ _1\"></span>option ed <span class=\"_ _1\"></span>\u00e8 valorizz<span class=\"_ _1\"></span>ato sulla base <span class=\"_ _1\"></span>dei risultat<span class=\"_ _1\"></span>i economi<span class=\"_ _1\"></span><span class=\"ls11\">co</span>-f<span class=\"_ _1\"></span>inanziari della <span class=\"_ _1\"></span>societ\u00e0 e isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>alla v<span class=\"_ _1\"></span>oce<span class=\"_ _26a\"> </span>Debiti per acquisto partec<span class=\"_ _1\"></span>ipazioni tra le <span class=\"_ _1\"></span>passivit\u00e0 corre<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span> Con <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>proventi <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>adeguamento <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>hiusura <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>strumenti <span class=\"_ _11\"></span>derivati <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rimanda <span class=\"_ _11\"></span>alla<span class=\"_ _26a\"> </span>successiva Nota 23.<span class=\"_ _1\"></span> Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>oneri finanziar<span class=\"_ _1\"></span>i\u201d</span> \u00e8 il seg<span class=\"_ _1\"></span>uente:<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ade<span class=\"_ _3\"></span>gu<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>nto al <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>air v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>e e c<span class=\"_ _1\"></span>hius<span class=\"_ _1\"></span>ur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>gli s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rume<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>rtur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>risc<span class=\"_ _1\"></span>hio t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ess<span class=\"_ _8\"></span>e<span class=\"_ _26a\"> </span>2.81<span class=\"_ _3\"></span>3<span class=\"_ _1ad\"> </span><span class=\"ls40\">669<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> 259<span class=\"_ _c8\"> </span>96<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>onti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>ba<span class=\"_ _3\"></span>ncari e post<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>261<span class=\"_ _eb\"> </span>109<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>a de<span class=\"_ _3\"></span>bito <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>536<span class=\"_ _b2\"> </span><span class=\"ls41\"> -<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>ov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>138<span class=\"_ _eb\"> </span>129<span class=\"_ _26a\"> </span>Prove<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>7<span class=\"_ _1ae\"> </span>1.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>L\u2019aumento <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _1\"></span>\u201cInter<span class=\"_ _1\"></span>essi <span class=\"_ _1\"></span>su <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _1\"></span>verso <span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>nche\u201d <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>correlato <span class=\"_ _1\"></span>all\u2019incr<span class=\"_ _1\"></span>emento <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>tassi di interesse e de<span class=\"_ _1\"></span>ll\u2019indebitamento bancari<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli <span class=\"_ _1e\"> </span>\u201c<span class=\"_ _1\"></span>Oneri  finanziari <span class=\"_ _1f\"> </span>per  adeguamento  stima <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>el  <span class=\"ff2\">debito  per  i<span class=\"_ _3\"></span>mpegno  acquisto  quote <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>esidue  di <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0<span class=\"_ _26a\"> </span></span>controllate\u201d <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _3\"></span>all\u2019adeguament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>debiti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>l\u2019acquisto <span class=\"_ _3\"></span>delle residue <span class=\"_ _2\"></span>quote <span class=\"_ _3\"></span>delle <span class=\"_ _3\"></span>societ\u00e0:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>Sistemas <span class=\"_ _23\"></span>Eletr\u00f4nicos <span class=\"_ _23\"></span>S.A, <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _20\"></span>di <span class=\"_ _23\"> </span><span class=\"ff7\">Put <span class=\"_ _20\"></span>&amp; <span class=\"_ _23\"></span>Call <span class=\"_ _20\"></span>option <span class=\"_ _23\"></span><span class=\"ff5\">per <span class=\"_ _20\"></span>l\u2019acquisto <span class=\"_ _23\"> </span>del <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _20\"> </span>9% <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span></span></span></span>societ\u00e0, <span class=\"_ _1f\"> </span>con <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span>eguamento  nell\u2019esercizio <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1f\"> </span>a <span class=\"_ _1e\"> </span>797  migliaia <span class=\"_ _1e\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1e\"> </span>(2.<span class=\"_ _1\"></span>483  mi<span class=\"_ _3\"></span>gliaia  di  <span class=\"ff2\">Euro<span class=\"_ _26a\"> </span></span>nell\u2019esercizio precede<span class=\"_ _1\"></span>nte); <span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, oggetto di <span class=\"ff7\">Put &amp; Call option<span class=\"_ _1\"></span></span> <span class=\"ff5\">che regola l\u2019acquisto del restante 49%, con un adeguame<span class=\"_ _1\"></span></span>nto<span class=\"_ _1\"></span> </span>nell\u2019esercizio pari a 1.<span class=\"_ _1\"></span>603 migliaia d<span class=\"_ _1\"></span>i Euro (1.478 migl<span class=\"_ _1\"></span>iaia di <span class=\"_ _1\"></span><span class=\"ff2\">E</span>uro nell\u2019es<span class=\"_ _1\"></span>ercizio precedente).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019adeguamento di tali debiti, inclusi tra le passivit\u00e0 finanziarie, \u00e8 conseguenz<span class=\"_ _1\"></span>a dei migliori risultati economico<span class=\"_ _8\"></span><span class=\"ff2\">-<span class=\"_ _26a\"> </span></span>finanziari <span class=\"_ _23\"> </span>reg<span class=\"_ _1\"></span>istrati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _23\"> </span>targ<span class=\"_ _8\"></span><span class=\"ff5\">et <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>dell\u2019aggiorn<span class=\"_ _1\"></span>amento <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>Pia<span class=\"_ _1\"></span>ni <span class=\"_ _23\"> </span>plurie<span class=\"_ _1\"></span>nnali <span class=\"_ _23\"> </span>ori<span class=\"_ _1\"></span>ginariamente <span class=\"_ _21\"> </span>previsti,<span class=\"_ _26a\"> </span></span>nonch\u00e9 all\u2019allungamento del periodo di esercizio dell\u2019opzione con riferimento a Markusson. Il Prezzo delle Put<span class=\"_ _26a\"> </span>&amp; Call option, infatti, <span class=\"_ _1\"></span>\u00e8 correlato agli indic<span class=\"_ _1\"></span>atori economici e fin<span class=\"_ _1\"></span>anziar<span class=\"_ _1\"></span>i futuri <span class=\"_ _1\"></span>delle societ\u00e0 acquisite<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> La <span class=\"_ _26\"> </span>voce <span class=\"_ _26\"> </span>\u201cOneri <span class=\"_ _26\"> </span>f<span class=\"_ _1\"></span>inanziari <span class=\"_ _27\"> </span><span class=\"ff7\">Leases</span>\u201d <span class=\"_ _27\"> </span>si <span class=\"_ _26\"> </span>riferisce <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>gli <span class=\"_ _26\"> </span>interessi <span class=\"_ _26\"> </span>su<span class=\"_ _1\"></span>lle <span class=\"_ _26\"> </span>passivit\u00e0 <span class=\"_ _27\"> </span>finanziar<span class=\"_ _1\"></span>ie <span class=\"_ _26\"> </span>contabilizzate <span class=\"_ _27\"> </span>in<span class=\"_ _26a\"> </span>applicazione al princ<span class=\"_ _1\"></span>ipio contabile IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>med<span class=\"_ _3\"></span>io l<span class=\"_ _1\"></span>un<span class=\"_ _3\"></span>go<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ba<span class=\"_ _3\"></span>nche<span class=\"_ _26a\"> </span>3.67<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>1.852<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ma deb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>2.40<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>4.569<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari Le<span class=\"_ _3\"></span>ases<span class=\"_ _26a\"> </span>1.06<span class=\"_ _3\"></span>5<span class=\"_ _1ad\"> </span><span class=\"ls42\">927<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al f<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alue<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>hiusur<span class=\"_ _3\"></span>a deg<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>ati<span class=\"_ _26a\"> </span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>intere<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>130<span class=\"_ _eb\"> </span>535<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>br<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>e t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>mi<span class=\"_ _1\"></span>ne<span class=\"_ _3\"></span> v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ban<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>he<span class=\"_ _26a\"> </span>396<span class=\"_ _eb\"> </span>136<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dipe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 33)<span class=\"_ _26a\"> </span>28<span class=\"_ _cb\"> </span><span class=\"ls43\"> -<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _3\"></span>liz<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>biti<span class=\"_ _1af\"> </span><span class=\"ls42\">47<span class=\"_ _b2\"> </span>25<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>824<span class=\"_ _eb\"> </span>567<span class=\"_ _26a\"> </span>One<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>8.56<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>8.611<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-420": {
   "value": "Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>proventi finanz<span class=\"_ _1\"></span>iari\u201d</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span>I <span class=\"_ _8\"></span>\u201cProventi <span class=\"_ _8\"></span>finanziari <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>deguamento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _8\"></span>stima <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>debito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>impe<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>acquisto <span class=\"_ _8\"></span>quote <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>esidue <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _26a\"> </span>controllate\u201d <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>all<span class=\"_ _1\"></span>\u2019adeguamento <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>l\u2019acquisto <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>residuo <span class=\"_ _1\"></span>10% <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>LLP:<span class=\"_ _26a\"> </span>all\u2019inizio di settembre 2022 le part<span class=\"ff2\">i hanno concordato </span><span class=\"ls21\">l\u2019</span><span class=\"ff2\">eserc<span class=\"_ _1\"></span>izio della Put &amp; <span class=\"_ _3\"></span>Call option per il 4% <span class=\"_ _3\"></span>della societ\u00e0,<span class=\"_ _26a\"> </span></span>definendo <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferimento, <span class=\"_ _8\"></span>ancora <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>residu<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>6% <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>imane <span class=\"_ _1\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Put &amp; Call <span class=\"_ _1\"></span>option ed <span class=\"_ _1\"></span>\u00e8 valorizz<span class=\"_ _1\"></span>ato sulla base <span class=\"_ _1\"></span>dei risultat<span class=\"_ _1\"></span>i economi<span class=\"_ _1\"></span><span class=\"ls11\">co</span>-f<span class=\"_ _1\"></span>inanziari della <span class=\"_ _1\"></span>societ\u00e0 e isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>alla v<span class=\"_ _1\"></span>oce<span class=\"_ _26a\"> </span>Debiti per acquisto partec<span class=\"_ _1\"></span>ipazioni tra le <span class=\"_ _1\"></span>passivit\u00e0 corre<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span> Con <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>proventi <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>adeguamento <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>hiusura <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>strumenti <span class=\"_ _11\"></span>derivati <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rimanda <span class=\"_ _11\"></span>alla<span class=\"_ _26a\"> </span>successiva Nota 23.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ade<span class=\"_ _3\"></span>gu<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>nto al <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>air v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>e e c<span class=\"_ _1\"></span>hius<span class=\"_ _1\"></span>ur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>gli s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rume<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>rtur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>risc<span class=\"_ _1\"></span>hio t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ess<span class=\"_ _8\"></span>e<span class=\"_ _26a\"> </span>2.81<span class=\"_ _3\"></span>3<span class=\"_ _1ad\"> </span><span class=\"ls40\">669<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> 259<span class=\"_ _c8\"> </span>96<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>onti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>ba<span class=\"_ _3\"></span>ncari e post<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>261<span class=\"_ _eb\"> </span>109<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>a de<span class=\"_ _3\"></span>bito <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>536<span class=\"_ _b2\"> </span><span class=\"ls41\"> -<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>ov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>138<span class=\"_ _eb\"> </span>129<span class=\"_ _26a\"> </span>Prove<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>7<span class=\"_ _1ae\"> </span>1.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-440": {
   "value": "Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>proventi finanz<span class=\"_ _1\"></span>iari\u201d</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span>I <span class=\"_ _8\"></span>\u201cProventi <span class=\"_ _8\"></span>finanziari <span class=\"_ _11\"></span>per <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>deguamento <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _8\"></span>stima <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>debito <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>impe<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>acquisto <span class=\"_ _8\"></span>quote <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>esidue <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _26a\"> </span>controllate\u201d <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>riferiscono <span class=\"_ _1\"></span>all<span class=\"_ _1\"></span>\u2019adeguamento <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>l\u2019acquisto <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>residuo <span class=\"_ _1\"></span>10% <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>LLP:<span class=\"_ _26a\"> </span>all\u2019inizio di settembre 2022 le part<span class=\"ff2\">i hanno concordato </span><span class=\"ls21\">l\u2019</span><span class=\"ff2\">eserc<span class=\"_ _1\"></span>izio della Put &amp; <span class=\"_ _3\"></span>Call option per il 4% <span class=\"_ _3\"></span>della societ\u00e0,<span class=\"_ _26a\"> </span></span>definendo <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>riferimento, <span class=\"_ _8\"></span>ancora <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _1\"></span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _8\"></span>2022. <span class=\"_ _1\"></span>Il <span class=\"_ _1\"></span>residu<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>6% <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>imane <span class=\"_ _1\"></span>ogg<span class=\"_ _1\"></span>etto <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>Put &amp; Call <span class=\"_ _1\"></span>option ed <span class=\"_ _1\"></span>\u00e8 valorizz<span class=\"_ _1\"></span>ato sulla base <span class=\"_ _1\"></span>dei risultat<span class=\"_ _1\"></span>i economi<span class=\"_ _1\"></span><span class=\"ls11\">co</span>-f<span class=\"_ _1\"></span>inanziari della <span class=\"_ _1\"></span>societ\u00e0 e isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>alla v<span class=\"_ _1\"></span>oce<span class=\"_ _26a\"> </span>Debiti per acquisto partec<span class=\"_ _1\"></span>ipazioni tra le <span class=\"_ _1\"></span>passivit\u00e0 corre<span class=\"_ _1\"></span>nti.<span class=\"_ _1\"></span> Con <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iferimento <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>proventi <span class=\"_ _11\"></span>da <span class=\"_ _11\"></span>adeguamento <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span><span class=\"ff7\">fa<span class=\"_ _1\"></span>ir <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>hiusura <span class=\"_ _11\"></span>degli <span class=\"_ _11\"></span>strumenti <span class=\"_ _11\"></span>derivati <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rimanda <span class=\"_ _11\"></span>alla<span class=\"_ _26a\"> </span>successiva Nota 23.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ia<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>ade<span class=\"_ _3\"></span>gu<span class=\"_ _3\"></span>ame<span class=\"_ _3\"></span>nto al <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>air v<span class=\"_ _9\"></span>alu<span class=\"_ _3\"></span>e e c<span class=\"_ _1\"></span>hius<span class=\"_ _1\"></span>ur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>gli s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>rume<span class=\"_ _3\"></span>nti<span class=\"_ _26a\"> </span>de<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>iv<span class=\"_ _9\"></span>ati <span class=\"_ _1\"></span>per<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _3\"></span>rtur<span class=\"_ _2\"></span>a <span class=\"_ _1\"></span>risc<span class=\"_ _1\"></span>hio t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>inter<span class=\"_ _3\"></span>ess<span class=\"_ _8\"></span>e<span class=\"_ _26a\"> </span>2.81<span class=\"_ _3\"></span>3<span class=\"_ _1ad\"> </span><span class=\"ls40\">669<span class=\"_ _26a\"> </span></span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> 259<span class=\"_ _c8\"> </span>96<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>da c<span class=\"_ _1\"></span>onti <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _3\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>ba<span class=\"_ _3\"></span>ncari e post<span class=\"_ _1\"></span>ali<span class=\"_ _26a\"> </span>261<span class=\"_ _eb\"> </span>109<span class=\"_ _26a\"> </span>Prov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>f<span class=\"_ _3\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _8\"></span>iar<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>a de<span class=\"_ _3\"></span>bito <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>536<span class=\"_ _b2\"> </span><span class=\"ls41\"> -<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>pr<span class=\"_ _3\"></span>ov<span class=\"_ _c\"></span>e<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iar<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>138<span class=\"_ _eb\"> </span>129<span class=\"_ _26a\"> </span>Prove<span class=\"_ _1\"></span>nti <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>4.00<span class=\"_ _3\"></span>7<span class=\"_ _1ae\"> </span>1.00<span class=\"_ _3\"></span>3<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-421": {
   "value": "Il dettaglio della voce <span class=\"ff6\">\u201c<span class=\"_ _1\"></span>oneri finanziar<span class=\"_ _1\"></span>i\u201d</span> \u00e8 il seg<span class=\"_ _1\"></span>uente:<span class=\"_ _26a\"> </span>L\u2019aumento <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _1\"></span>\u201cInter<span class=\"_ _1\"></span>essi <span class=\"_ _1\"></span>su <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _1\"></span>verso <span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>nche\u201d <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>correlato <span class=\"_ _1\"></span>all\u2019incr<span class=\"_ _1\"></span>emento <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>tassi di interesse e de<span class=\"_ _1\"></span>ll\u2019indebitamento bancari<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli <span class=\"_ _1e\"> </span>\u201c<span class=\"_ _1\"></span>Oneri  finanziari <span class=\"_ _1f\"> </span>per  adeguamento  stima <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>el  <span class=\"ff2\">debito  per  i<span class=\"_ _3\"></span>mpegno  acquisto  quote <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>esidue  di <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0<span class=\"_ _26a\"> </span></span>controllate\u201d <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _3\"></span>all\u2019adeguament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>debiti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>l\u2019acquisto <span class=\"_ _3\"></span>delle residue <span class=\"_ _2\"></span>quote <span class=\"_ _3\"></span>delle <span class=\"_ _3\"></span>societ\u00e0:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>Sistemas <span class=\"_ _23\"></span>Eletr\u00f4nicos <span class=\"_ _23\"></span>S.A, <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _20\"></span>di <span class=\"_ _23\"> </span><span class=\"ff7\">Put <span class=\"_ _20\"></span>&amp; <span class=\"_ _23\"></span>Call <span class=\"_ _20\"></span>option <span class=\"_ _23\"></span><span class=\"ff5\">per <span class=\"_ _20\"></span>l\u2019acquisto <span class=\"_ _23\"> </span>del <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _20\"> </span>9% <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span></span></span></span>societ\u00e0, <span class=\"_ _1f\"> </span>con <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span>eguamento  nell\u2019esercizio <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1f\"> </span>a <span class=\"_ _1e\"> </span>797  migliaia <span class=\"_ _1e\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1e\"> </span>(2.<span class=\"_ _1\"></span>483  mi<span class=\"_ _3\"></span>gliaia  di  <span class=\"ff2\">Euro<span class=\"_ _26a\"> </span></span>nell\u2019esercizio precede<span class=\"_ _1\"></span>nte); <span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, oggetto di <span class=\"ff7\">Put &amp; Call option<span class=\"_ _1\"></span></span> <span class=\"ff5\">che regola l\u2019acquisto del restante 49%, con un adeguame<span class=\"_ _1\"></span></span>nto<span class=\"_ _1\"></span> </span>nell\u2019esercizio pari a 1.<span class=\"_ _1\"></span>603 migliaia d<span class=\"_ _1\"></span>i Euro (1.478 migl<span class=\"_ _1\"></span>iaia di <span class=\"_ _1\"></span><span class=\"ff2\">E</span>uro nell\u2019es<span class=\"_ _1\"></span>ercizio precedente).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019adeguamento di tali debiti, inclusi tra le passivit\u00e0 finanziarie, \u00e8 conseguenz<span class=\"_ _1\"></span>a dei migliori risultati economico<span class=\"_ _8\"></span><span class=\"ff2\">-<span class=\"_ _26a\"> </span></span>finanziari <span class=\"_ _23\"> </span>reg<span class=\"_ _1\"></span>istrati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _23\"> </span>targ<span class=\"_ _8\"></span><span class=\"ff5\">et <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>dell\u2019aggiorn<span class=\"_ _1\"></span>amento <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>Pia<span class=\"_ _1\"></span>ni <span class=\"_ _23\"> </span>plurie<span class=\"_ _1\"></span>nnali <span class=\"_ _23\"> </span>ori<span class=\"_ _1\"></span>ginariamente <span class=\"_ _21\"> </span>previsti,<span class=\"_ _26a\"> </span></span>nonch\u00e9 all\u2019allungamento del periodo di esercizio dell\u2019opzione con riferimento a Markusson. Il Prezzo delle Put<span class=\"_ _26a\"> </span>&amp; Call option, infatti, <span class=\"_ _1\"></span>\u00e8 correlato agli indic<span class=\"_ _1\"></span>atori economici e fin<span class=\"_ _1\"></span>anziar<span class=\"_ _1\"></span>i futuri <span class=\"_ _1\"></span>delle societ\u00e0 acquisite<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> La <span class=\"_ _26\"> </span>voce <span class=\"_ _26\"> </span>\u201cOneri <span class=\"_ _26\"> </span>f<span class=\"_ _1\"></span>inanziari <span class=\"_ _27\"> </span><span class=\"ff7\">Leases</span>\u201d <span class=\"_ _27\"> </span>si <span class=\"_ _26\"> </span>riferisce <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>gli <span class=\"_ _26\"> </span>interessi <span class=\"_ _26\"> </span>su<span class=\"_ _1\"></span>lle <span class=\"_ _26\"> </span>passivit\u00e0 <span class=\"_ _27\"> </span>finanziar<span class=\"_ _1\"></span>ie <span class=\"_ _26\"> </span>contabilizzate <span class=\"_ _27\"> </span>in<span class=\"_ _26a\"> </span>applicazione al princ<span class=\"_ _1\"></span>ipio contabile IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>med<span class=\"_ _3\"></span>io l<span class=\"_ _1\"></span>un<span class=\"_ _3\"></span>go<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ba<span class=\"_ _3\"></span>nche<span class=\"_ _26a\"> </span>3.67<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>1.852<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ma deb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>2.40<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>4.569<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari Le<span class=\"_ _3\"></span>ases<span class=\"_ _26a\"> </span>1.06<span class=\"_ _3\"></span>5<span class=\"_ _1ad\"> </span><span class=\"ls42\">927<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al f<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alue<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>hiusur<span class=\"_ _3\"></span>a deg<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>ati<span class=\"_ _26a\"> </span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>intere<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>130<span class=\"_ _eb\"> </span>535<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>br<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>e t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>mi<span class=\"_ _1\"></span>ne<span class=\"_ _3\"></span> v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ban<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>he<span class=\"_ _26a\"> </span>396<span class=\"_ _eb\"> </span>136<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dipe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 33)<span class=\"_ _26a\"> </span>28<span class=\"_ _cb\"> </span><span class=\"ls43\"> -<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _3\"></span>liz<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>biti<span class=\"_ _1af\"> </span><span class=\"ls42\">47<span class=\"_ _b2\"> </span>25<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>824<span class=\"_ _eb\"> </span>567<span class=\"_ _26a\"> </span>One<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>8.56<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>8.611<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-393": {
   "value": "L\u2019aumento <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>oce <span class=\"_ _1\"></span>\u201cInter<span class=\"_ _1\"></span>essi <span class=\"_ _1\"></span>su <span class=\"_ _8\"></span>debiti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>me<span class=\"_ _1\"></span>dio <span class=\"_ _1\"></span>lungo <span class=\"_ _8\"></span>termine <span class=\"_ _1\"></span>verso <span class=\"_ _1\"></span>ba<span class=\"_ _1\"></span>nche\u201d <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _8\"></span>correlato <span class=\"_ _1\"></span>all\u2019incr<span class=\"_ _1\"></span>emento <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>tassi di interesse e de<span class=\"_ _1\"></span>ll\u2019indebitamento bancari<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Gli <span class=\"_ _1e\"> </span>\u201c<span class=\"_ _1\"></span>Oneri  finanziari <span class=\"_ _1f\"> </span>per  adeguamento  stima <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>el  <span class=\"ff2\">debito  per  i<span class=\"_ _3\"></span>mpegno  acquisto  quote <span class=\"_ _1e\"> </span>r<span class=\"_ _1\"></span>esidue  di <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0<span class=\"_ _26a\"> </span></span>controllate\u201d <span class=\"_ _3\"></span>si <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>iferiscono <span class=\"_ _3\"></span>all\u2019adeguament<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>della <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>tima <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span>debiti <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>er <span class=\"_ _3\"></span>l\u2019acquisto <span class=\"_ _3\"></span>delle residue <span class=\"_ _2\"></span>quote <span class=\"_ _3\"></span>delle <span class=\"_ _3\"></span>societ\u00e0:<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Agres<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>Sistemas <span class=\"_ _23\"></span>Eletr\u00f4nicos <span class=\"_ _23\"></span>S.A, <span class=\"_ _11\"></span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _20\"></span>di <span class=\"_ _23\"> </span><span class=\"ff7\">Put <span class=\"_ _20\"></span>&amp; <span class=\"_ _23\"></span>Call <span class=\"_ _20\"></span>option <span class=\"_ _23\"></span><span class=\"ff5\">per <span class=\"_ _20\"></span>l\u2019acquisto <span class=\"_ _23\"> </span>del <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>estante <span class=\"_ _20\"> </span>9% <span class=\"_ _20\"> </span>d<span class=\"_ _1\"></span>ella<span class=\"_ _26a\"> </span></span></span></span>societ\u00e0, <span class=\"_ _1f\"> </span>con <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>ad<span class=\"_ _1\"></span>eguamento  nell\u2019esercizio <span class=\"_ _1e\"> </span>p<span class=\"_ _1\"></span>ari <span class=\"_ _1f\"> </span>a <span class=\"_ _1e\"> </span>797  migliaia <span class=\"_ _1e\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1e\"> </span>(2.<span class=\"_ _1\"></span>483  mi<span class=\"_ _3\"></span>gliaia  di  <span class=\"ff2\">Euro<span class=\"_ _26a\"> </span></span>nell\u2019esercizio precede<span class=\"_ _1\"></span>nte); <span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Mark<span class=\"_ _1\"></span>usson, oggetto di <span class=\"ff7\">Put &amp; Call option<span class=\"_ _1\"></span></span> <span class=\"ff5\">che regola l\u2019acquisto del restante 49%, con un adeguame<span class=\"_ _1\"></span></span>nto<span class=\"_ _1\"></span> </span>nell\u2019esercizio pari a 1.<span class=\"_ _1\"></span>603 migliaia d<span class=\"_ _1\"></span>i Euro (1.478 migl<span class=\"_ _1\"></span>iaia di <span class=\"_ _1\"></span><span class=\"ff2\">E</span>uro nell\u2019es<span class=\"_ _1\"></span>ercizio precedente).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019adeguamento di tali debiti, inclusi tra le passivit\u00e0 finanziarie, \u00e8 conseguenz<span class=\"_ _1\"></span>a dei migliori risultati economico<span class=\"_ _8\"></span><span class=\"ff2\">-<span class=\"_ _26a\"> </span></span>finanziari <span class=\"_ _23\"> </span>reg<span class=\"_ _1\"></span>istrati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>lle <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _23\"> </span>targ<span class=\"_ _8\"></span><span class=\"ff5\">et <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>dell\u2019aggiorn<span class=\"_ _1\"></span>amento <span class=\"_ _21\"> </span>dei <span class=\"_ _23\"> </span>Pia<span class=\"_ _1\"></span>ni <span class=\"_ _23\"> </span>plurie<span class=\"_ _1\"></span>nnali <span class=\"_ _23\"> </span>ori<span class=\"_ _1\"></span>ginariamente <span class=\"_ _21\"> </span>previsti,<span class=\"_ _26a\"> </span></span>nonch\u00e9 all\u2019allungamento del periodo di esercizio dell\u2019opzione con riferimento a Markusson. Il Prezzo delle Put<span class=\"_ _26a\"> </span>&amp; Call option, infatti, <span class=\"_ _1\"></span>\u00e8 correlato agli indic<span class=\"_ _1\"></span>atori economici e fin<span class=\"_ _1\"></span>anziar<span class=\"_ _1\"></span>i futuri <span class=\"_ _1\"></span>delle societ\u00e0 acquisite<span class=\"_ _1\"></span>.<span class=\"_ _1\"></span> La <span class=\"_ _26\"> </span>voce <span class=\"_ _26\"> </span>\u201cOneri <span class=\"_ _26\"> </span>f<span class=\"_ _1\"></span>inanziari <span class=\"_ _27\"> </span><span class=\"ff7\">Leases</span>\u201d <span class=\"_ _27\"> </span>si <span class=\"_ _26\"> </span>riferisce <span class=\"_ _26\"> </span>a<span class=\"_ _1\"></span>gli <span class=\"_ _26\"> </span>interessi <span class=\"_ _26\"> </span>su<span class=\"_ _1\"></span>lle <span class=\"_ _26\"> </span>passivit\u00e0 <span class=\"_ _27\"> </span>finanziar<span class=\"_ _1\"></span>ie <span class=\"_ _26\"> </span>contabilizzate <span class=\"_ _27\"> </span>in<span class=\"_ _26a\"> </span>applicazione al princ<span class=\"_ _1\"></span>ipio contabile IFR<span class=\"_ _1\"></span>S 16 <span class=\"_ _1\"></span><span class=\"ff5\">\u2013</span> <span class=\"ff7\">Leases</span>.<span class=\"_ _26a\"> </span>Per maggiori dettag<span class=\"_ _1\"></span>li sugli oneri su s<span class=\"_ _1\"></span>trumenti derivati di<span class=\"_ _1\"></span> copertur<span class=\"_ _1\"></span>a tasso si riman<span class=\"_ _1\"></span>da alla successiva Not<span class=\"_ _1\"></span>a 23.<span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>2<span class=\"_ _be\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _9\"></span>e<span class=\"_ _8\"></span>rciz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>202<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>med<span class=\"_ _3\"></span>io l<span class=\"_ _1\"></span>un<span class=\"_ _3\"></span>go<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ermine<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ba<span class=\"_ _3\"></span>nche<span class=\"_ _26a\"> </span>3.67<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>1.852<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r ad<span class=\"_ _3\"></span>eg<span class=\"_ _3\"></span>ua<span class=\"_ _3\"></span>men<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>o s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ma deb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pe<span class=\"_ _3\"></span>r impeg<span class=\"_ _3\"></span>no<span class=\"_ _26a\"> </span>acquist<span class=\"_ _1\"></span>o quo<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>e re<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>idu<span class=\"_ _3\"></span>e di <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>oci<span class=\"_ _1\"></span>et\u00e0 c<span class=\"_ _1\"></span>ontro<span class=\"_ _3\"></span>llate<span class=\"_ _26a\"> </span>2.40<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>4.569<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari Le<span class=\"_ _3\"></span>ases<span class=\"_ _26a\"> </span>1.06<span class=\"_ _3\"></span>5<span class=\"_ _1ad\"> </span><span class=\"ls42\">927<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>ad<span class=\"_ _3\"></span>eg<span class=\"_ _2\"></span>uamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>al f<span class=\"_ _3\"></span>air<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>v<span class=\"_ _c\"></span>alue<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>hiusur<span class=\"_ _3\"></span>a deg<span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>ru<span class=\"_ _3\"></span>menti <span class=\"_ _1\"></span>de<span class=\"_ _3\"></span>riv<span class=\"_ _c\"></span>ati<span class=\"_ _26a\"> </span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>ope<span class=\"_ _2\"></span>rtura<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>as<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>intere<span class=\"_ _2\"></span>s<span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>130<span class=\"_ _eb\"> </span>535<span class=\"_ _26a\"> </span>I<span class=\"_ _2\"></span>nt<span class=\"_ _1\"></span>er<span class=\"_ _2\"></span>es<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>s<span class=\"_ _8\"></span>u de<span class=\"_ _3\"></span>biti <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>br<span class=\"_ _2\"></span>ev<span class=\"_ _c\"></span>e t<span class=\"_ _1\"></span>er<span class=\"_ _3\"></span>mi<span class=\"_ _1\"></span>ne<span class=\"_ _3\"></span> v<span class=\"_ _9\"></span>er<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>o ban<span class=\"_ _2\"></span>c<span class=\"_ _8\"></span>he<span class=\"_ _26a\"> </span>396<span class=\"_ _eb\"> </span>136<span class=\"_ _26a\"> </span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari pe<span class=\"_ _3\"></span>r be<span class=\"_ _3\"></span>ne<span class=\"_ _3\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>a dipe<span class=\"_ _3\"></span>nd<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _3\"></span>ota 33)<span class=\"_ _26a\"> </span>28<span class=\"_ _cb\"> </span><span class=\"ls43\"> -<span class=\"_ _26a\"> </span></span>On<span class=\"_ _3\"></span>er<span class=\"_ _3\"></span>i <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari da<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _3\"></span>liz<span class=\"_ _8\"></span>z<span class=\"_ _1\"></span>azi<span class=\"_ _1\"></span>on<span class=\"_ _3\"></span>e de<span class=\"_ _3\"></span>biti<span class=\"_ _1af\"> </span><span class=\"ls42\">47<span class=\"_ _b2\"> </span>25<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>tri <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>na<span class=\"_ _3\"></span>nziari<span class=\"_ _26a\"> </span>824<span class=\"_ _eb\"> </span>567<span class=\"_ _26a\"> </span>One<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>fina<span class=\"_ _8\"></span>nz<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>ri<span class=\"_ _26a\"> </span>8.56<span class=\"_ _3\"></span>0<span class=\"_ _1ae\"> </span>8.611<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-392": {
   "value": "Il dettaglio della voce \u201cutili e perdite su cambi\u201d \u00e8 il seguente: La gestione valutaria 2022 \u00e8 positiva per 1.895 migliaia di Euro contro un valore positivo di 589 migliaia di Euro  dello  scorso  esercizio.  La  gestione  cambi  ha  risentito  positivamente  dalla  rivalutazione  del  dollaro statunitense e del real brasiliano rispetto all\u2019Euro. 16. Imposte sul reddito Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Utili / (Perdite) su cambi realizzati/e su saldi commerciali 987  632 Utili / (Perdite) su cambi per adeguamento saldi commerciali 675  165 Utili / (Perdite) su cambi su saldi finanziari 528  (157) Utili / (Perdite) su cambi su valutazione strumenti derivati di copertura (295) (51) Utili e (perdite) su cambi 1.895  589 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEffectOfChangesInForeignExchangeRatesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-330": {
   "value": "16. Imposte sul reddito Il carico fiscale dell\u2019esercizio 2022 per imposte correnti, differite attive e passive ammonta a 12.932 migliaia di Euro (12.774 migliaia di Euro nell\u2019esercizio precedente). La composizione della voce \u00e8 la seguente: Tra le imposte correnti figura il costo per IRAP pari a 1.179 migliaia di Euro, contro 1.282 migliaia di Euro dell\u2019esercizio precedente. La riconciliazione tra l\u2019onere fiscale iscritto in bilancio e l\u2019onere fiscale teorico, determinato sulla base delle aliquote fiscali teoriche vigenti in Italia, \u00e8 la seguente: Il tax rate \u00e8 pari al 29,3% contro il 27,8% dell\u2019esercizio 2021. Il carico fiscale effettivo dell\u2019anno \u00e8 stato influenzato negativamente: -  dalla contabilizzazione della riduzione del valore dell\u2019avviamento \u201cTailong\u201d, fiscalmente non rilevante, per 2.957 migliaia di Euro (con un effetto negativo sul tax rate dell\u20191,9%);  -  dall\u2019iscrizione di oneri finanziari netti non rilevanti fiscalmente e relativi all\u2019adeguamento dei debiti per l\u2019acquisto  delle  quote  residue di  societ\u00e0 controllate  (Nota 15), con un effetto negativo sul tax rate dell\u2019anno pari all\u20191,2% (2,4% nello scorso esercizio). Dati in migliaia di Euro Esercizio 2022 Esercizio 2021 Imposte correnti sul reddito 13.476 13.689 Imposte degli esercizi precedenti (44) (41) Imposte differite attive (nota 32) (527) (841) Imposte differite passive (nota 32) 27  (33) Totale 12.932 12.774 Utile prima delle imposte 44.097 45.885 Imposta teorica in base all'aliquota teorica 12.303 27,9 12.802 27,9 Effetto delle differenze Irap calcolate su diversa base 139 0,3 484 1,0 Proventi non tassabili  (499)  (1,1)  (330) (0,7) Costi non deducibili a fini fiscali 1.297 2,9 566 1,2 Differenze di aliquota con altri paesi 165 0,4  (641) (1,4) Effetto fiscale da riallineamento e rivalutazioni  -  -  (102) (0,2) Imposte figurative sugli oneri finanziari relativi all\u2019attualizzazione e adeguamento dei debiti per acquisto di partecipazioni 547 1,2 1.114 2,4 Imposte degli esercizi precedenti  (44)  (0,1)  (41) (0,1) Altre differenze (976)  (2,2)  (1.078)  (2,3) Carico fiscale effettivo 12.932 29,3  12.774 27,8 Dati in migliaia di Euro Esercizio 2022% AliquotaEsercizio 2021% Aliquota ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-331": {
   "value": "17. Utile per azione L'utile per azione \u201cbase\u201d \u00e8 calcolato dividendo l'utile netto attribuibile agli Azionisti della Capogruppo per il numero  medio  ponderato  di  azioni  in  circolazione  durante  l'esercizio,  escluso  il  numero  medio  di  azioni ordinarie acquistate  dalla  Capogruppo o possedute  come  azioni  proprie (Nota 39). La Capogruppo ha in circolazione esclusivamente azioni ordinarie. L\u2019utile per azione diluito coincide con l\u2019utile per azione base. Esercizio 2022 Esercizio 2021 Utile attribuibile ai possessori di azioni ordinarie della Capogruppo (\u20ac/1.000) 30.268 32.508 Numero di azioni ordinarie in circolazione - media ponderata 163.451.400 163.537.602 Utile per azione base (\u20ac) 0,185 0,199 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-332": {
   "value": "18. Immobilizzazioni materiali  La movimentazione della voce immobilizzazioni materiali \u00e8 di seguito esposta: Le  immobilizzazioni  materiali  di  Trebol  Maquinaria  y  Suministros  S.A.  alla  data  di  entrata  nell\u2019area  di consolidamento ammontano a 34 migliaia di Euro.  Gli incrementi si riferiscono principalmente ad investimenti: 1.  in attrezzature per lo sviluppo di nuovi prodotti e nuove tecnologie; 2.  in adeguamento e modernizzazione delle linee produttive; 3.  in adeguamento di impianti e infrastrutture produttive; 4.  nel ciclico rinnovo delle attrezzatture produttive ed industriali. Non sono stati rilevati indicatori di perdita di valore delle immobilizzazioni materiali, ad eccezione di quanto rilevato con riferimento alla Capogruppo Emak S.p.A. e meglio argomentato nella Nota 21. Non si segnalano cespiti soggetti a restrizioni a seguito di garanzie reali prestate. Nel corso degli anni il Gruppo ha beneficiato di alcuni contributi in conto capitale erogati ai sensi della Legge 488/92 alla societ\u00e0 Comag S.r.l. (dal 1 gennaio 2015 fusa nella societ\u00e0 Emak S.p.A.). I contributi erogati Dati in migliaia di Euro 31.12.2021 Variazione area di consolidamento in entrata Incrementi / (Ammortamenti) Decrementi Effetto cambio Riclassifiche 31.12.2022 Terreni e Fabbricati 59.356 580 (34) (400) 6 59.508 Fondo ammortamento (23.949) (1.563) 34 148  - (25.330) Terreni e fabbricati 35.407  - (983)  -  (252) 6 34.178 Impianti e macchinari 120.416 11 5.500 (1.188) 952 1.434 127.125 Fondo ammortamento (92.374) (11) (6.747) 942 (537)  (82) (98.809) Impianti e macchinari 28.042  - (1.247) (246) 415 1.352 28.316 Altre immobilizzazioni materiali 134.611 125 5.410 (2.862) (138) 2.389 139.535 Fondo ammortamento (123.040) (91) (5.532) 2.791 266 25 (125.581) Altri beni 11.571 34 (122) (71) 128 2.414 13.954 Anticipi  Imm. in corso 3.538  - 4.939  (56) 51  (2.396) 6.076 Costo 317.921 136 16.429  (4.140) 465 1.433 332.244 Amm.to accumulato (nota 14)  (239.363)  (102)  (13.842) 3.767  (123)  (57)  (249.720) Valore netto contabile 78.558 34 2.587  (373) 342 1.376 82.524 Dati in migliaia di Euro 31.12.2020 Variazione area di consolidamento in entrata Incrementi / (Ammortamenti) Decrementi Effetto cambio Riclassifiche 31.12.2021 Terreni e Fabbricati 57.268 205 (177) 1.945 115 59.356 Fondo ammortamento (21.791) (1.613) 6 (551)  - (23.949) Terreni e fabbricati 35.477  - (1.408)  (171) 1.394 115 35.407 Impianti e macchinari 109.651 246 4.822 (1.381) 2.096 4.982 120.416 Fondo ammortamento (85.765) (232) (5.989) 1.300 (1.688)  - (92.374) Impianti e macchinari 23.886 14 (1.167) (81) 408 4.982 28.042 Altre immobilizzazioni materiali 130.838 330 4.775 (3.090) 1.487 271 134.611 Fondo ammortamento (119.207) (317) (5.347) 2.951 (1.224) 104 (123.040) Altri beni 11.631 13 (572) (139) 263 375 11.571 Anticipi  Imm. in corso 5.415  - 3.536  (10) 69  (5.472) 3.538 Costo 303.172 576 13.338  (4.658) 5.597  (104) 317.921 Amm.to accumulato (nota 14)  (226.763)  (549)  (12.949) 4.257  (3.463) 104  (239.363) Valore netto contabile 76.409 27 389  (401) 2.134  - 78.558 vengono accreditati al conto economico progressivamente in relazione alla residua possibilit\u00e0 di utilizzazione  dei cespiti a cui si riferiscono e sono esposti in bilancio tra i risconti passivi. Tutti i crediti relativi a tali contributi risultano incassati ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-333": {
   "value": "19. Immobilizzazioni immateriali Le immobilizzazioni immateriali presentano la seguente movimentazione: I costi di ricerca direttamente imputati a conto economico ammontano a 9.335 migliaia di Euro, al netto delle capitalizzazioni avvenute nel corso dell\u2019esercizio e si riferiscono principalmente a costi sostenuti per lo sviluppo di nuovi prodotti. Gli incrementi da variazione area di consolidamento si riferiscono ai costi di sviluppo, a brevetti e software e ai valori del fair value attribuito alla lista clienti e al marchio della societ\u00e0 Trebol Maquinaria y Suministros S.A. in sede di Purchase Price Allocation (PPA). Il valore attribuito al marchio \u00e8 pari a 392 migliaia di Euro, con una vita utile stimata in 10 anni, mentre quello attribuito alla customer relationship \u00e8 pari a 916 migliaia di Euro, con una vita utile stimata in 15 anni. Le Altre immobilizzazioni immateriali includono il valore della lista clienti determinata a seguito del processo di Purchase Price Allocation del corrispettivo riconosciuto per le acquisizioni di: -  Gruppo Lavorwash, avvenuta nel corso del 2017, per un valore netto al 31 dicembre 2022 di 4.461 migliaia di Euro e con una vita utile stimata in 14 anni, ritenuta tuttora attendibile; -  Agres Sistemas Eletr\u00f4nicos SA, avvenuta nel corso del 2020, per un valore netto al 31 dicembre 2022 di 1.372 migliaia di Euro e con una vita utile stimata in 10 anni; -  Markusson, avvenuta nel corso del 2020 per un valore netto al 31 dicembre 2022 pari a 1.100 migliaia di Euro e vita utile stimata in 10 anni; -  Poli S.r.l., avvenuta nel corso del 2021, per un valore netto al 31 dicembre 2022 pari a 2.530 migliaia di Euro al 31 dicembre 2022 e vita utile stimata in 14 anni. Nel corso del 2022 \u00e8 iniziata l\u2019attivit\u00e0 di implementazione del nuovo sistema gestionale delle societ\u00e0 Comet S.p.A. e Lavorwash S.p.A. il cui go-live \u00e8 previso per il 2023 e che ha comportato costi nel 2022 pari a 632 migliaia di Euro. Dati in migliaia di Euro 31.12.2021 Variazione area di consolidamento in entrata Incrementi Decrementi Ammortamenti Effetto cambio Riclassifiche 31.12.2022 Costi di sviluppo 4.656  - 845  -  (1.670) 141 132 4.104 Brevetti e software 2.532  - 1.756  -  (1.502) 19 208 3.013 Concessioni, licenze e marchi 3.760 392 45  -  (614) 42  (1) 3.624 Altre immobilizzazioni Immateriali 13.022 916 215  -  (2.094) 84 83 12.226 Anticipi e immobilizzazioni in corso 883  - 2.442  (13)  - 1  (1.798) 1.515 Valore netto contabile 24.853 1.308 5.303  (13)  (5.880) 287  (1.376) 24.482 Dati in migliaia di Euro 31.12.2020 Variazione area di consolidamento in entrata Incrementi Decrementi Ammortamenti Effetto cambio Riclassifiche 31.12.2021 Costi di sviluppo 4.360 200 1.405  (5)  (1.411) 11 96 4.656 Brevetti e software 2.455 22 1.433  (4)  (1.438) 5 59 2.532 Concessioni, licenze e marchi 4.320  - 41  -  (604) 3  - 3.760 Altre imm. Immateriali 11.650 2.812 476  -  (1.908)  (13) 5 13.022 Anticipi e immobilizzazioni in corso 284  - 868  (109)  -  -  (160) 883 Valore netto contabile 23.069 3.034 4.223  (118)  (5.361) 6  - 24.853 Tutte le immobilizzazioni immateriali hanno vita durevole residua definita e sono ammortizzate a quote costanti  in base alla vita utile residua ad eccezione del valore del marchio della controllata Lemasa S.A. fusa in Comet do Brasil Industria e Comercio de Equipamentos Ltda allocato in sede di acquisizione della stessa e iscritto per un valore di 2.664 migliaia di Reais, pari a 472 migliaia di Euro al 31 dicembre 2022. La recuperabilit\u00e0 di tale asset a vita utile indefinita \u00e8 soggetta a test di impairment eseguito con la procedura  illustrata alla Nota 21. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-394": {
   "value": "19. Immobilizzazioni immateriali Le immobilizzazioni immateriali presentano la seguente movimentazione: I costi di ricerca direttamente imputati a conto economico ammontano a 9.335 migliaia di Euro, al netto delle capitalizzazioni avvenute nel corso dell\u2019esercizio e si riferiscono principalmente a costi sostenuti per lo sviluppo di nuovi prodotti. Gli incrementi da variazione area di consolidamento si riferiscono ai costi di sviluppo, a brevetti e software e ai valori del fair value attribuito alla lista clienti e al marchio della societ\u00e0 Trebol Maquinaria y Suministros S.A. in sede di Purchase Price Allocation (PPA). Il valore attribuito al marchio \u00e8 pari a 392 migliaia di Euro, con una vita utile stimata in 10 anni, mentre quello attribuito alla customer relationship \u00e8 pari a 916 migliaia di Euro, con una vita utile stimata in 15 anni. Le Altre immobilizzazioni immateriali includono il valore della lista clienti determinata a seguito del processo di Purchase Price Allocation del corrispettivo riconosciuto per le acquisizioni di: -  Gruppo Lavorwash, avvenuta nel corso del 2017, per un valore netto al 31 dicembre 2022 di 4.461 migliaia di Euro e con una vita utile stimata in 14 anni, ritenuta tuttora attendibile; -  Agres Sistemas Eletr\u00f4nicos SA, avvenuta nel corso del 2020, per un valore netto al 31 dicembre 2022 di 1.372 migliaia di Euro e con una vita utile stimata in 10 anni; -  Markusson, avvenuta nel corso del 2020 per un valore netto al 31 dicembre 2022 pari a 1.100 migliaia di Euro e vita utile stimata in 10 anni; -  Poli S.r.l., avvenuta nel corso del 2021, per un valore netto al 31 dicembre 2022 pari a 2.530 migliaia di Euro al 31 dicembre 2022 e vita utile stimata in 14 anni. Nel corso del 2022 \u00e8 iniziata l\u2019attivit\u00e0 di implementazione del nuovo sistema gestionale delle societ\u00e0 Comet S.p.A. e Lavorwash S.p.A. il cui go-live \u00e8 previso per il 2023 e che ha comportato costi nel 2022 pari a 632 migliaia di Euro. Dati in migliaia di Euro 31.12.2021 Variazione area di consolidamento in entrata Incrementi Decrementi Ammortamenti Effetto cambio Riclassifiche 31.12.2022 Costi di sviluppo 4.656  - 845  -  (1.670) 141 132 4.104 Brevetti e software 2.532  - 1.756  -  (1.502) 19 208 3.013 Concessioni, licenze e marchi 3.760 392 45  -  (614) 42  (1) 3.624 Altre immobilizzazioni Immateriali 13.022 916 215  -  (2.094) 84 83 12.226 Anticipi e immobilizzazioni in corso 883  - 2.442  (13)  - 1  (1.798) 1.515 Valore netto contabile 24.853 1.308 5.303  (13)  (5.880) 287  (1.376) 24.482 Dati in migliaia di Euro 31.12.2020 Variazione area di consolidamento in entrata Incrementi Decrementi Ammortamenti Effetto cambio Riclassifiche 31.12.2021 Costi di sviluppo 4.360 200 1.405  (5)  (1.411) 11 96 4.656 Brevetti e software 2.455 22 1.433  (4)  (1.438) 5 59 2.532 Concessioni, licenze e marchi 4.320  - 41  -  (604) 3  - 3.760 Altre imm. Immateriali 11.650 2.812 476  -  (1.908)  (13) 5 13.022 Anticipi e immobilizzazioni in corso 284  - 868  (109)  -  -  (160) 883 Valore netto contabile 23.069 3.034 4.223  (118)  (5.361) 6  - 24.853 Tutte le immobilizzazioni immateriali hanno vita durevole residua definita e sono ammortizzate a quote costanti  in base alla vita utile residua ad eccezione del valore del marchio della controllata Lemasa S.A. fusa in Comet do Brasil Industria e Comercio de Equipamentos Ltda allocato in sede di acquisizione della stessa e iscritto per un valore di 2.664 migliaia di Reais, pari a 472 migliaia di Euro al 31 dicembre 2022. La recuperabilit\u00e0 di tale asset a vita utile indefinita \u00e8 soggetta a test di impairment eseguito con la procedura  illustrata alla Nota 21. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-422": {
   "value": "I costi di ricerca direttamente imputati a conto economico ammontano a 9.335 migliaia di Euro, al netto delle  capitalizzazioni avvenute nel corso dell\u2019esercizio e si riferiscono principalmente a costi sostenuti per lo sviluppo  di nuovi prodotti. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfResearchAndDevelopmentExpenseExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-334": {
   "value": "20. Diritti d\u2019uso La voce \u201cDiritti d\u2019uso\u201d \u00e8 stata introdotta in applicazione al principio contabile IFRS 16 \u2013 Leases adottato dal Gruppo con l\u2019approccio \u201cretrospettivo modificato\u201d dal 1 gennaio 2019.  La movimentazione della voce \u201cDiritti d\u2019uso\u201d \u00e8 qui di seguito esposta: La variazione area di consolidamento si riferisce per l\u2019esercizio 2022 ai contratti di lease in essere alla data di acquisizione della societ\u00e0 Trebol Maquinaria y Suministros S.A; mentre per l\u2019esercizio 2021 ai contratti di lease in essere alla data di acquisizione della societ\u00e0 Poli S.r.l. Gli  incrementi  dell\u2019esercizio  sono  relativi  principalmente  alla  sottoscrizione  di  nuovi  contratti  di  lease  per fabbricati di propriet\u00e0 di terzi, scaduti nell\u2019esercizio, per attivit\u00e0 sottostanti identiche. Dati in migliaia di Euro 31.12.2021 Variazione area di consolidamento Incrementi Ammortamenti Decrementi Effetto cambio 31.12.2022 Diritti d'uso fabbricati 36.217 113 4.106 (5.850) - 416 35.002 Diritti d'uso altri beni 1.448 - 809 (795) (15) 12 1.459 Valore netto contabile (nota 14) 37.665 113 4.915  (6.645)  (15) 428 36.461 Dati in migliaia di Euro 31.12.2020 Variazione area di consolidamento Incrementi Ammortamenti Decrementi Effetto cambio 31.12.2021 Diritti d'uso fabbricati 26.565 864 14.273 (5.345) (229) 89 36.217 Diritti d'uso altri beni 1.360 - 825 (737) (5) 5 1.448 Valore netto contabile (nota 14) 27.925 864 15.098  (6.082)  (234) 94 37.665 31. Passivit\u00e0 derivanti da lease La voce \u201cPassivit\u00e0 derivanti da lease\u201d, che ammonta complessivamente a 38.039 migliaia di Euro, di cui 31.682 migliaia di Euro quale quota non corrente e 6.357 migliaia di Euro quale quota corrente, si riferisce alle passivit\u00e0 finanziarie contabilizzate in applicazione al principio contabile IFRS 16 \u2013 Leases. Tali passivit\u00e0 sono pari al valore attuale dei pagamenti futuri  residui  previsti  dai  contratti.  Al  31  dicembre  2021 tali passivit\u00e0 ammontavano a 38.974 migliaia di Euro, di cui 33.111 migliaia quale quota non corrente e 5.863 migliaia di Euro quale quota corrente. Le passivit\u00e0 derivanti da lease a medio e lungo termine sono rimborsabili secondo il seguente piano di rientro: Dati in migliaia di Euro Esigibili 2\u00b0 anno Esigibili   3\u00b0 anno Esigibili    4\u00b0 anno Esigibili 5\u00b0 anno Totale entro 5 anni Esigibili oltre 5 anni Passivit\u00e0 derivanti da Lease 5.767 5.242 5.154 4.571 20.734 10.948 Totale 5.767 5.242 5.154 4.571 20.734 10.948 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-335": {
   "value": "21. Avviamento<span class=\"_ _1\"></span> L\u2019avviamento iscr<span class=\"_ _1\"></span>itto in bilancio al 31 d<span class=\"_ _1\"></span>icembre 2022, <span class=\"_ _1\"></span>pari a 71.216 m<span class=\"_ _1\"></span>igliaia di Euro, \u00e8 di seg<span class=\"_ _1\"></span>uito dettagliato:<span class=\"_ _26a\"> </span>Ca<span class=\"_ _3\"></span>sh Ge<span class=\"_ _2\"></span>nerat<span class=\"_ _3\"></span>i<span class=\"_ _3\"></span>ng<span class=\"_ _2\"></span> Un<span class=\"_ _3\"></span>it<span class=\"_ _3\"></span> (CGU)<span class=\"_ _26a\"> </span>Pa<span class=\"_ _3\"></span>es<span class=\"_ _3\"></span>e<span class=\"_ _b6\"> </span><span class=\"ff4\">Des<span class=\"_ _3\"></span>cri<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _3\"></span>one<span class=\"_ _85\"> </span>31.12<span class=\"_ _3\"></span>.20<span class=\"_ _3\"></span>21<span class=\"_ _9e\"> </span>Va<span class=\"_ _3\"></span>riazi<span class=\"_ _3\"></span>one<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>area<span class=\"_ _26a\"> </span></span>Sv<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>utazi<span class=\"_ _3\"></span>oni<span class=\"_ _2\"></span> (Nota 1<span class=\"_ _3\"></span>4)<span class=\"_ _26a\"> </span>Ef<span class=\"_ _3\"></span>f<span class=\"_ _3\"></span>etto Cam<span class=\"_ _2\"></span>bi<span class=\"_ _3\"></span>o<span class=\"_ _b6\"> </span>31.1<span class=\"_ _3\"></span>2.20<span class=\"_ _3\"></span>2<span class=\"_ _26a\"> </span>Victu<span class=\"_ _3\"></span>s<span class=\"_ _1b9\"> </span>Po<span class=\"_ _3\"></span>lo<span class=\"_ _3\"></span>nia<span class=\"_ _146\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Victus<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>IT<span class=\"_ _26a\"> </span>5.2<span class=\"_ _3\"></span>93<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _1b6\"> </span></span> (93)<span class=\"_ _cf\"> </span>5.20<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ailo<span class=\"_ _3\"></span>ng<span class=\"_ _3\"></span> <span class=\"_ _b1\"> </span>Cina<span class=\"_ _a4\"> </span>Av<span class=\"_ _9\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _3\"></span>ail<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>g M<span class=\"_ _2\"></span>achine<span class=\"_ _3\"></span>ry<span class=\"_ _1\"></span> Lt<span class=\"_ _3\"></span>d<span class=\"_ _26a\"> </span>2.9<span class=\"_ _3\"></span>09<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _7d\"> </span></span> <span class=\"_ _1\"></span>(2.95<span class=\"_ _3\"></span>7)<span class=\"_ _ef\"> </span><span class=\"ls55\">48</span> -<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _1be\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _9\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in G<span class=\"_ _3\"></span>rupp<span class=\"_ _3\"></span>o T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _26a\"> </span>2.8<span class=\"_ _3\"></span>07<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>2.8<span class=\"_ _3\"></span>07<span class=\"_ _26a\"> </span>Sp<span class=\"_ _3\"></span>ee<span class=\"_ _3\"></span>d Fran<span class=\"_ _3\"></span>ce<span class=\"_ _96\"> </span>Francia<span class=\"_ _99\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Sp<span class=\"_ _3\"></span>eed<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>Fran<span class=\"_ _3\"></span>ce<span class=\"_ _26a\"> </span>2.8<span class=\"_ _3\"></span>54<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>2.8<span class=\"_ _3\"></span>54<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _112\"> </span>Ital<span class=\"_ _2\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _3\"></span>o in G<span class=\"_ _2\"></span>rupp<span class=\"_ _3\"></span>o Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> 4.2<span class=\"_ _3\"></span>53<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>4.2<span class=\"_ _3\"></span>53<span class=\"_ _26a\"> </span>PT<span class=\"_ _2\"></span>C <span class=\"_ _a5\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in PT<span class=\"_ _2\"></span>C<span class=\"_ _26a\"> </span>1.2<span class=\"_ _3\"></span>36<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _f2\"> </span> -<span class=\"_ _16b\"> </span></span>1.2<span class=\"_ _3\"></span>36<span class=\"_ _26a\"> </span>Va<span class=\"_ _3\"></span>ll<span class=\"_ _2\"></span>ey<span class=\"_ _93\"> </span>U<span class=\"_ _3\"></span>SA<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Va<span class=\"_ _3\"></span>ll<span class=\"_ _2\"></span>ey <span class=\"_ _1\"></span>LL<span class=\"_ _3\"></span>P e A1<span class=\"_ _c0\"> </span>12<span class=\"_ _3\"></span>.866<span class=\"_ _d9\"> </span><span class=\"ls54\"> -<span class=\"_ _68\"> </span> -<span class=\"_ _84\"> </span><span class=\"ls55\">796<span class=\"_ _179\"> </span></span></span>13<span class=\"_ _3\"></span>.662<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _1be\"> </span>Ita<span class=\"_ _3\"></span>l<span class=\"_ _3\"></span>ia<span class=\"_ _26a\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o G<span class=\"_ _2\"></span>eol<span class=\"_ _2\"></span>ine El<span class=\"_ _2\"></span>ectron<span class=\"_ _3\"></span>ic<span class=\"_ _1\"></span> S.r.l. iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _3\"></span>ecom<span class=\"_ _2\"></span>ec<span class=\"_ _26a\"> </span>S.r.l.<span class=\"_ _26a\"> </span>901<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>901<span class=\"_ _26a\"> </span>S.I.Agro M<span class=\"_ _2\"></span>ex<span class=\"_ _2\"></span>ico<span class=\"_ _25\"> </span>Me<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>ico<span class=\"_ _2d\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in S.I.Agro M<span class=\"_ _2\"></span>ex<span class=\"_ _2\"></span>ic<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>634<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>634<span class=\"_ _26a\"> </span>Co<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>do<span class=\"_ _3\"></span> Brasil<span class=\"_ _25\"> </span>Bras<span class=\"_ _3\"></span>ile<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o L<span class=\"_ _3\"></span>em<span class=\"_ _2\"></span>asa<span class=\"_ _3\"></span> iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in Com<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span> <span class=\"_ _1\"></span>do<span class=\"_ _3\"></span> Brasil<span class=\"_ _131\"> </span>8.97<span class=\"_ _2\"></span>5<span class=\"_ _183\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _db\"> </span><span class=\"ls55\">937<span class=\"_ _c1\"> </span></span></span>9.912<span class=\"_ _26a\"> </span>La<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>orw<span class=\"_ _3\"></span>as<span class=\"_ _3\"></span>h<span class=\"_ _a\"> </span>I<span class=\"_ _1\"></span>t<span class=\"_ _3\"></span>al<span class=\"_ _3\"></span>ia<span class=\"_ _df\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscri<span class=\"_ _1\"></span>tt<span class=\"_ _2\"></span>o in G<span class=\"_ _3\"></span>rupp<span class=\"_ _2\"></span>o Lav<span class=\"_ _2\"></span>orw<span class=\"_ _2\"></span>as<span class=\"_ _3\"></span>h<span class=\"_ _83\"> </span>17.49<span class=\"_ _3\"></span>0<span class=\"_ _128\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _75\"> </span></span>-<span class=\"_ _f0\"> </span>1<span class=\"_ _3\"></span>7.49<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>Sp<span class=\"_ _3\"></span>rayc<span class=\"_ _1\"></span>om<span class=\"_ _169\"> </span>Brasil<span class=\"_ _3\"></span>e<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Spraycom<span class=\"_ _1bf\"> </span><span class=\"ls55\">200<span class=\"_ _84\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _68\"> </span> -<span class=\"_ _7d\"> </span></span>200<span class=\"_ _26a\"> </span></span>M<span class=\"_ _2\"></span>arkus<span class=\"_ _3\"></span>so<span class=\"_ _3\"></span>n<span class=\"_ _df\"> </span>Sv<span class=\"_ _2\"></span>ezia<span class=\"_ _9d\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o iscritt<span class=\"_ _3\"></span>o in M<span class=\"_ _2\"></span>arku<span class=\"_ _3\"></span>ss<span class=\"_ _3\"></span>on<span class=\"_ _35\"> </span>1<span class=\"_ _3\"></span>.72<span class=\"_ _3\"></span>0<span class=\"_ _e1\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _e1\"> </span></span> (135<span class=\"_ _3\"></span>)<span class=\"_ _11e\"> </span>1.58<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>Ag<span class=\"_ _3\"></span>res<span class=\"_ _93\"> </span>Brasil<span class=\"_ _3\"></span>e<span class=\"_ _144\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>am<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>to<span class=\"_ _3\"></span> iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in Agre<span class=\"_ _3\"></span>s<span class=\"_ _13d\"> </span>6<span class=\"_ _3\"></span>.681<span class=\"_ _19c\"> </span><span class=\"ls54\"> -<span class=\"_ _f2\"> </span> -<span class=\"_ _db\"> </span><span class=\"ls55\">796<span class=\"_ _111\"> </span></span></span>7.47<span class=\"_ _3\"></span>7<span class=\"_ _26a\"> </span>Po<span class=\"_ _3\"></span>li<span class=\"_ _128\"> </span>Ital<span class=\"_ _2\"></span>ia<span class=\"_ _df\"> </span>Av<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _3\"></span>o iscritt<span class=\"_ _2\"></span>o in Pol<span class=\"_ _2\"></span>i<span class=\"_ _59\"> </span>1.8<span class=\"_ _3\"></span>15<span class=\"_ _19c\"> </span><span class=\"ls54\"> -<span class=\"_ _1c0\"> </span> -<span class=\"_ _c3\"> </span></span>1.815<span class=\"_ _26a\"> </span>T<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eb<span class=\"_ _3\"></span>ol<span class=\"_ _111\"> </span>Sp<span class=\"_ _3\"></span>agn<span class=\"_ _2\"></span>a<span class=\"_ _146\"> </span>A<span class=\"_ _3\"></span>v<span class=\"_ _2\"></span>v<span class=\"_ _3\"></span>iam<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>o iscr<span class=\"_ _1\"></span>itt<span class=\"_ _2\"></span>o in T<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>eb<span class=\"_ _3\"></span>ol -<span class=\"_ _e1\"> </span><span class=\"ls1\">1.191<span class=\"_ _fb\"> </span></span> -<span class=\"_ _16b\"> </span><span class=\"ls1\">1.19<span class=\"_ _3\"></span>1<span class=\"_ _26a\"> </span></span>To<span class=\"_ _3\"></span>tal<span class=\"_ _3\"></span>e<span class=\"_ _f8\"> </span>70<span class=\"_ _3\"></span>.634<span class=\"_ _a0\"> </span>1.19<span class=\"_ _3\"></span>1<span class=\"_ _111\"> </span> (2.957<span class=\"_ _2\"></span>)<span class=\"_ _93\"> </span>2.34<span class=\"_ _3\"></span>8<span class=\"_ _10c\"> </span>71<span class=\"_ _3\"></span>.21<span class=\"_ _3\"></span>6<span class=\"_ _26a\"> </span>La <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>ispetto <span class=\"_ _21\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _21\"> </span>3<span class=\"_ _1\"></span>1 <span class=\"_ _21\"> </span>dice<span class=\"_ _1\"></span>mbre <span class=\"_ _21\"> </span>2<span class=\"_ _1\"></span>021 <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>iconducibile <span class=\"_ _1e\"> </span>alla <span class=\"_ _1e\"> </span>variazione <span class=\"_ _1e\"> </span>dei <span class=\"_ _1e\"> </span>c<span class=\"_ _1\"></span>ambi <span class=\"_ _21\"> </span>di <span class=\"_ _1e\"> </span>cons<span class=\"_ _1\"></span>olidamento,<span class=\"_ _26a\"> </span>all\u2019acquisizione <span class=\"_ _21\"> </span>della <span class=\"_ _23\"> </span>socie<span class=\"_ _1\"></span>t\u00e0<span class=\"ff2\"> <span class=\"_ _21\"> </span></span>Trebol <span class=\"_ _21\"> </span>Maquinaria <span class=\"_ _23\"> </span>y<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>Suministros<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>S.A. <span class=\"_ _21\"> </span>e <span class=\"_ _23\"> </span>alla <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>valutazione <span class=\"_ _21\"> </span>dell\u2019avviamento <span class=\"_ _21\"> </span>di<span class=\"_ _26a\"> </span>Tailong.<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>allocato alla <span class=\"_ _3\"></span>CGU <span class=\"_ _3\"></span>Victus, pari <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>5.200 migliaia <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>Euro, si <span class=\"_ _2\"></span>ri<span class=\"_ _1\"></span>ferisce alla <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>ifferenza emergente<span class=\"_ _26a\"> </span></span></span>tra <span class=\"_ _11\"></span>il <span class=\"_ _11\"></span>prezzo <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>acquisizion<span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>100% <span class=\"_ _20\"></span>della <span class=\"_ _11\"></span>socie<span class=\"_ _1\"></span>t\u00e0 <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>diri<span class=\"_ _8\"></span>tto <span class=\"_ _11\"></span>polacco <span class=\"_ _11\"></span>V<span class=\"_ _1\"></span>ictus-Em<span class=\"_ _1\"></span>ak <span class=\"_ _11\"></span>Sp. <span class=\"_ _11\"></span>Z.o.<span class=\"_ _1\"></span>o. <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>suo<span class=\"_ _26a\"> </span>patrimonio <span class=\"_ _8\"></span>netto <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>data <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>acquisizion<span class=\"_ _1\"></span>e, <span class=\"_ _8\"></span>ed <span class=\"_ _8\"></span>all\u2019acqu<span class=\"_ _1\"></span>isizione <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>ramo <span class=\"_ _8\"></span>d\u2019azi<span class=\"_ _1\"></span>enda <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Victus <span class=\"_ _8\"></span>Internat<span class=\"_ _1\"></span>ional<span class=\"_ _26a\"> </span>Trading SA. Entramb<span class=\"_ _1\"></span>e le acquisizioni s<span class=\"_ _1\"></span>ono state realizzate ne<span class=\"_ _1\"></span>l 2005.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _21\"> </span>relativo <span class=\"_ _23\"> </span>all\u2019a<span class=\"_ _1\"></span>cquisiz</span>i<span class=\"_ _1\"></span>one <span class=\"_ _23\"> </span>del <span class=\"_ _23\"> </span>G<span class=\"_ _1\"></span>ruppo <span class=\"_ _23\"> </span>Te<span class=\"_ _1\"></span>comec, <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>Gruppo <span class=\"_ _23\"> </span>Co<span class=\"_ _1\"></span>met <span class=\"_ _23\"> </span>e <span class=\"_ _21\"> </span>del <span class=\"_ _23\"> </span>Gruppo <span class=\"_ _21\"> </span>Speed<span class=\"_ _26a\"> </span></span>France da <span class=\"_ _1\"></span>parte di<span class=\"_ _1\"></span> Tecome<span class=\"_ _1\"></span>c S.r.l., r<span class=\"_ _1\"></span>ispettivament<span class=\"_ _1\"></span>e pari<span class=\"_ _1\"></span> a 2.<span class=\"_ _1\"></span>807 miglia<span class=\"_ _1\"></span>ia di <span class=\"_ _1\"></span>Euro, 4.<span class=\"_ _1\"></span>253 migl<span class=\"_ _1\"></span>iaia di E<span class=\"_ _1\"></span>uro e<span class=\"_ _26a\"> </span>2.854 migliaia <span class=\"_ _3\"></span>di Euro <span class=\"_ _3\"></span>emergono<span class=\"_ _1\"></span> dall\u2019operazione Greenfield <span class=\"_ _2\"></span>(<span class=\"_ _1\"></span>per maggiori dettagli <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>i rim<span class=\"_ _1\"></span><span class=\"ff2\">anda al prospetto<span class=\"_ _26a\"> </span></span>informativo pubblicato in data 18 no<span class=\"_ _3\"></span>vembre 2011); in conformit\u00e0 a quanto previsto dai principi contabili di<span class=\"_ _26a\"> </span>riferimento le <span class=\"_ _1\"></span>operazioni <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisizione eff<span class=\"_ _1\"></span>ettuate tr<span class=\"_ _1\"></span>a parti s<span class=\"_ _1\"></span>oggette a <span class=\"_ _1\"></span>comune <span class=\"_ _1\"></span>controllo, n<span class=\"_ _1\"></span>on disc<span class=\"_ _1\"></span>iplinate<span class=\"_ _26a\"> </span>pertanto d<span class=\"_ _1\"></span>all\u2019IFRS <span class=\"_ _1\"></span>3,<span class=\"ff2\"> <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _1\"></span>state <span class=\"_ _1\"></span>contabilizz<span class=\"_ _1\"></span>ate, t<span class=\"_ _1\"></span>enendo <span class=\"_ _1\"></span>conto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>quanto <span class=\"_ _1\"></span>previst<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>dallo <span class=\"_ _1\"></span>IAS <span class=\"_ _1\"></span>8, <span class=\"_ _1\"></span>ovvero <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>concetto  di  rappresentazio<span class=\"_ _1\"></span>ne  attendibile  e  fedele  dell<span class=\"_ _1\"></span>\u2019operazione,  e  da  quanto  prev<span class=\"_ _1\"></span>isto  dall\u2019OPI  1<span class=\"_ _1\"></span> (orientamenti <span class=\"_ _27\"> </span>preliminari <span class=\"_ _27\"> </span>Ass<span class=\"_ _1\"></span>irevi <span class=\"_ _27\"> </span>in <span class=\"_ _26\"> </span>tema<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>IFRS),<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>r<span class=\"_ _1\"></span>elativo <span class=\"_ _27\"> </span>al <span class=\"_ _26\"> </span>\u201ctrat<span class=\"_ _1\"></span>tamen<span class=\"_ _1\"></span><span class=\"ff2\">t<span class=\"_ _1\"></span>o <span class=\"_ _26\"> </span>co<span class=\"_ _1\"></span>ntabile <span class=\"_ _27\"> </span>delle <span class=\"_ _27\"> </span><span class=\"ff7\">busin<span class=\"_ _1\"></span>ess<span class=\"_ _26a\"> </span></span></span>combination of entities under common control<span class=\"ff2\"> <span class=\"ff5\">nel bilancio separato e nel <span class=\"_ _3\"></span>bilancio consolidato\u201d. Come pi\u00f9<span class=\"_ _26a\"> </span></span></span>dettagliatamente <span class=\"_ _21\"> </span>spec<span class=\"_ _1\"></span>ificato <span class=\"_ _21\"> </span>nei <span class=\"_ _21\"> </span>preci<span class=\"_ _1\"></span>tati <span class=\"_ _21\"> </span>principi <span class=\"_ _21\"> </span>c<span class=\"_ _1\"></span>ontabili, <span class=\"_ _21\"> </span>la <span class=\"_ _21\"> </span>sel<span class=\"_ _1\"></span>ezione <span class=\"_ _21\"> </span>del <span class=\"_ _21\"> </span>prin<span class=\"_ _1\"></span>cipio <span class=\"_ _21\"> </span>contabile <span class=\"_ _1e\"> </span>per <span class=\"_ _21\"> </span>le<span class=\"_ _26a\"> </span>operazioni <span class=\"_ _2\"></span>in <span class=\"_ _2\"></span>esa<span class=\"_ _1\"></span>me <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>stata <span class=\"_ _3\"></span>guidata <span class=\"_ _2\"></span>dagli <span class=\"_ _2\"></span>elemen<span class=\"_ _1\"></span>ti <span class=\"_ _2\"></span>sopra <span class=\"_ _2\"></span>descr<span class=\"_ _1\"></span>itti, <span class=\"_ _9\"></span>c<span class=\"_ _1\"></span>he <span class=\"_ _2\"></span>hanno <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ortato <span class=\"_ _2\"></span>ad <span class=\"_ _2\"></span>applicare <span class=\"_ _3\"></span>il <span class=\"_ _2\"></span>criterio<span class=\"_ _26a\"> </span>della cont<span class=\"_ _1\"></span>inuit\u00e0 dei <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>nette tr<span class=\"_ _1\"></span>asferite. <span class=\"_ _1\"></span>Il princi<span class=\"_ _1\"></span>pio della<span class=\"_ _1\"></span> continuit\u00e0<span class=\"_ _1\"></span> dei <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>dato <span class=\"_ _1\"></span>luogo<span class=\"_ _26a\"> </span>alla r<span class=\"_ _1\"></span>ilevazione <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>b<span class=\"_ _1\"></span>ilancio <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>Gruppo <span class=\"_ _1\"></span>Emak<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>valori <span class=\"_ _1\"></span>uguali<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span> qu<span class=\"_ _1\"></span>elli <span class=\"_ _1\"></span>che <span class=\"_ _1\"></span>sareb<span class=\"_ _1\"></span>bero <span class=\"_ _1\"></span>emersi <span class=\"_ _1\"></span>se <span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e a<span class=\"_ _1\"></span>ttivit\u00e0<span class=\"_ _26a\"> </span>nette oggetto di <span class=\"_ _2\"></span>ag<span class=\"_ _1\"></span>gregazione fossero state <span class=\"_ _3\"></span>unite da <span class=\"_ _3\"></span>sempre. Le attivit\u00e0 <span class=\"_ _3\"></span>nette sono state <span class=\"_ _3\"></span>pertanto rilevate<span class=\"_ _26a\"> </span>ai <span class=\"_ _28\"> </span>va<span class=\"_ _1\"></span>lori <span class=\"_ _29\"> </span>di<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>libro <span class=\"_ _29\"> </span>che<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>risultavano<span class=\"_ _1\"></span> <span class=\"_ _29\"> </span>dalla <span class=\"_ _29\"> </span>conta<span class=\"_ _1\"></span>bilit\u00e0 <span class=\"_ _29\"> </span>delle <span class=\"_ _29\"> </span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _29\"> </span>o<span class=\"_ _1\"></span>ggetto <span class=\"_ _29\"> </span>di <span class=\"_ _29\"> </span>acq<span class=\"_ _1\"></span>uisi<span class=\"_ _8\"></span>zione <span class=\"_ _53\"> </span>prima<span class=\"_ _26a\"> </span>dell\u2019operazione.<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Nello <span class=\"_ _3\"></span>spec<span class=\"_ _1\"></span>ifico, l<span class=\"_ _3\"></span>a Societ\u00e0 ha <span class=\"_ _3\"></span>optato per <span class=\"_ _3\"></span>contabilizzare la di<span class=\"_ _3\"></span>fferenza riveniente dal maggior <span class=\"_ _2\"></span>pr<span class=\"_ _1\"></span>ezzo pagato<span class=\"_ _26a\"> </span>per <span class=\"_ _11\"></span>l\u2019acquisto <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>partecipazio<span class=\"_ _1\"></span>ni <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>gruppo <span class=\"_ _11\"></span>Tecomec <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>del <span class=\"_ _11\"></span>gruppo <span class=\"_ _11\"></span>C<span class=\"_ _1\"></span>omet <span class=\"_ _11\"></span>limitatamente <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>valori <span class=\"_ _11\"></span>g<span class=\"_ _1\"></span>i\u00e0<span class=\"_ _26a\"> </span>riconosciuti nel <span class=\"ff5\">bi<span class=\"_ _1\"></span>lancio cons<span class=\"_ _1\"></span>olidato della controllant<span class=\"_ _1\"></span>e Yama all\u2019atto de<span class=\"_ _1\"></span>lle rispettive acquisiz<span class=\"_ _1\"></span>ioni. <span class=\"_ _8\"></span></span> Risultando  i  valori  di  acquisizi<span class=\"_ _1\"></span>one  delle  partecipaz<span class=\"_ _1\"></span>ioni  dell\u2019operazio<span class=\"_ _1\"></span>ne  Greenfield  superiori  a  q<span class=\"_ _1\"></span>uelli<span class=\"_ _26a\"> </span>risultanti <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>lle <span class=\"_ _8\"></span>situazion<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>patr<span class=\"_ _1\"></span>imoniali <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>31 <span class=\"_ _8\"></span>dicembre <span class=\"_ _11\"></span>2011 <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>le <span class=\"_ _11\"></span><span class=\"ff5\">societ\u00e0 <span class=\"_ _11\"></span>acquisende, <span class=\"_ _11\"></span>l\u2019eccedenza <span class=\"_ _8\"></span>pari <span class=\"_ _11\"></span>a<span class=\"_ _26a\"> </span></span>33.618 <span class=\"_ _1e\"> </span>migliaia <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>Euro <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>stata <span class=\"_ _1e\"> </span>eliminat<span class=\"_ _1\"></span>a <span class=\"_ _21\"> </span>rett<span class=\"_ _1\"></span>ificando <span class=\"_ _1e\"> </span>in <span class=\"_ _1e\"> </span>diminuzione <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>patrimoni<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>netto <span class=\"_ _1f\"> </span>del <span class=\"_ _21\"> </span>b<span class=\"_ _1\"></span>ilancio<span class=\"_ _26a\"> </span>consolidato.<span class=\"_ _26a\"> </span>L\u2019avviamento allocato alla CGU Comet, pari a <span class=\"_ _3\"></span>4.253 migliaia di Euro, i<span class=\"_ _3\"></span>nclude la differenza positiva, <span class=\"_ _1\"></span><span class=\"ff2\">pari a<span class=\"_ _26a\"> </span></span>1.974 <span class=\"_ _1\"></span>migliaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1\"></span>emer<span class=\"_ _1\"></span>sa <span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>segu<span class=\"_ _1\"></span>ito <span class=\"_ _1\"></span>dell\u2019acquisizi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>uccessiva <span class=\"_ _1\"></span>fusi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>incorporazione <span class=\"_ _8\"></span>della<span class=\"_ _26a\"> </span>societ\u00e0 <span class=\"_ _23\"> </span>H<span class=\"_ _1\"></span>PP <span class=\"_ _21\"> </span>S.r.l. <span class=\"_ _21\"> </span>in <span class=\"_ _21\"> </span>Com<span class=\"_ _1\"></span>et <span class=\"_ _23\"> </span>S.<span class=\"_ _1\"></span>p.A., <span class=\"_ _21\"> </span>realizzata <span class=\"_ _21\"> </span>nel <span class=\"_ _21\"> </span>2010. <span class=\"_ _21\"> </span>Qu<span class=\"_ _1\"></span>est\u2019ultimo <span class=\"_ _21\"> </span>con <span class=\"_ _21\"> </span>rifer<span class=\"_ _1\"></span>imento <span class=\"_ _21\"> </span>all\u2019eserciz<span class=\"_ _1\"></span>io <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>impairment condotto per il bilancio 202<span class=\"_ _1\"></span>2 \u00e8 stato testat<span class=\"_ _1\"></span>o tramite i flussi derivanti dalla contro<span class=\"_ _1\"></span>llata PTC che<span class=\"_ _26a\"> </span>da tale esercizio ha <span class=\"_ _1\"></span>acquisito tramite<span class=\"_ _1\"></span> affitto di ramo d\u2019a<span class=\"_ _1\"></span>zienda il business<span class=\"_ _1\"></span> HPP.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento al<span class=\"_ _1\"></span>locato alla CGU PTC, <span class=\"_ _1\"></span>pari a 1.236 mig<span class=\"_ _1\"></span>liaia di Euro, si riferisc<span class=\"_ _1\"></span>e:<span class=\"_ _1\"></span></span> </span>-<span class=\"ff2\"> <span class=\"ff5\">pe<span class=\"_ _3\"></span>r 360 m<span class=\"_ _1\"></span>igliaia di Euro a<span class=\"_ _1\"></span>ll\u2019avviamento di un ra<span class=\"_ _1\"></span>mo di az<span class=\"_ _1\"></span>ienda conferito nel 2<span class=\"_ _1\"></span>011 da soci di min<span class=\"_ _1\"></span>oranza<span class=\"_ _26a\"> </span></span></span>in P.T.C. S.r.l., societ\u00e0 <span class=\"_ _1\"></span>appartenente al grupp<span class=\"_ _1\"></span>o Comet;<span class=\"_ _8\"></span> -<span class=\"ff2\"> pe<span class=\"_ _3\"></span>r <span class=\"_ _3\"></span>523 <span class=\"_ _3\"></span>miglia<span class=\"ff5\">ia<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di Euro <span class=\"_ _2\"></span>all\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>em<span class=\"_ _1\"></span>erso <span class=\"_ _3\"></span>in <span class=\"_ _2\"></span>s<span class=\"_ _1\"></span>ede <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _3\"></span>della <span class=\"_ _3\"></span>societ\u00e0 <span class=\"_ _3\"></span>Master <span class=\"_ _3\"></span>Fluid S<span class=\"_ _3\"></span>.r.l.<span class=\"_ _1\"></span>,<span class=\"_ _26a\"> </span></span></span>acquisita <span class=\"_ _8\"></span>nel <span class=\"_ _8\"></span>mese <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>giu<span class=\"_ _1\"></span>gno <span class=\"_ _8\"></span>2014 <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>P.T.C. <span class=\"_ _11\"></span>S.r.l. <span class=\"_ _1\"></span>e <span class=\"_ _11\"></span>successivamente <span class=\"_ _8\"></span>fusa <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>inc<span class=\"_ _1\"></span>orporazione <span class=\"_ _8\"></span>nella<span class=\"_ _26a\"> </span>stessa. <span class=\"_ _1f\"> </span>L\u2019avviamento  deriva <span class=\"_ _1e\"> </span>dalla  differenza <span class=\"_ _1e\"> </span>che  emerge <span class=\"_ _1e\"> </span>tra  il <span class=\"_ _1e\"> </span>pr<span class=\"_ _8\"></span><span class=\"ff2\">ezzo <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>acq<span class=\"_ _1\"></span>uisizione  ed <span class=\"_ _1e\"> </span>il <span class=\"_ _1f\"> </span>suo<span class=\"_ _26a\"> </span></span>patrimonio netto all<span class=\"_ _1\"></span>a data del 30 giugno <span class=\"_ _1\"></span>2014;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">per <span class=\"_ _23\"> </span>3<span class=\"_ _1\"></span>53 <span class=\"_ _23\"> </span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>Euro<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>lla <span class=\"_ _23\"> </span>differ<span class=\"_ _1\"></span>enza <span class=\"_ _21\"> </span>positiva <span class=\"_ _21\"> </span>emersa <span class=\"_ _21\"> </span>a <span class=\"_ _23\"> </span>se<span class=\"_ _1\"></span>guito <span class=\"_ _21\"> </span>dell\u2019acquisizione <span class=\"_ _21\"> </span>e <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>uccess<span class=\"_ _1\"></span>iva<span class=\"_ _26a\"> </span></span></span>fusione per incorporaz<span class=\"_ _1\"></span>ione della societ\u00e0 <span class=\"_ _1\"></span>Acquatecnica <span class=\"_ _1\"></span>S.r.l. in P.T.C. S.r.l. r<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>alizzata nel 2016.<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _22\"> </span><span class=\"ff5\">L\u2019avviamento <span class=\"_ _23\"> </span>all<span class=\"_ _1\"></span>ocato <span class=\"_ _23\"> </span>alla <span class=\"_ _23\"> </span>CG<span class=\"_ _1\"></span>U <span class=\"_ _23\"> </span>Valley, <span class=\"_ _23\"> </span>pari <span class=\"_ _23\"> </span>a <span class=\"_ _23\"> </span>13.662<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>migliaia <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>Euro, <span class=\"_ _23\"> </span>incl<span class=\"_ _1\"></span>ude <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>importo <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>12.188<span class=\"_ _26a\"> </span></span></span>migliaia <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Euro <span class=\"_ _1\"></span>derivante<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>dall\u2019acquisizion<span class=\"_ _1\"></span>e d<span class=\"_ _1\"></span>ella s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _1\"></span>Valley <span class=\"_ _1\"></span>Industr<span class=\"_ _1\"></span>ies <span class=\"_ _1\"></span>LLP <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Com<span class=\"_ _1\"></span>et <span class=\"_ _1\"></span>U.S.A.<span class=\"_ _26a\"> </span>Inc. avvenuta nel me<span class=\"_ _3\"></span>se di febbraio 2012, sorto dalla differenza emergente <span class=\"_ _3\"></span>tra il prezzo di acquisizione ed<span class=\"_ _26a\"> </span>il <span class=\"_ _21\"> </span>s<span class=\"_ _1\"></span>uo <span class=\"_ _1e\"> </span>patrimonio <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>etto <span class=\"_ _1e\"> </span>e <span class=\"_ _1f\"> </span>un <span class=\"_ _1e\"> </span>importo <span class=\"_ _1e\"> </span>di <span class=\"_ _1e\"> </span>1<span class=\"_ _1\"></span>.474 <span class=\"_ _1e\"> </span>migli<span class=\"_ _1\"></span>aia <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>Euro  <span class=\"ff5\">derivante <span class=\"_ _1e\"> </span>dall\u2019<span class=\"_ _1\"></span>acquisizione <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span>ramo<span class=\"_ _26a\"> </span></span>d\u2019azienda A1 Mist <span class=\"_ _1\"></span>Sprayers Resoruces Inc. re<span class=\"_ _1\"></span>alizzata nei prim<span class=\"_ _1\"></span>i mesi del 20<span class=\"_ _1\"></span>17 d<span class=\"_ _1\"></span><span class=\"ff2\">alla stess<span class=\"_ _1\"></span>a Valley.<span class=\"_ _1\"></span> </span>L\u2019avviamento <span class=\"_ _11\"></span>iscritto <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>901 <span class=\"_ _8\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>riferi<span class=\"_ _1\"></span>sce <span class=\"_ _8\"></span>all\u2019acquisizi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>del <span class=\"_ _11\"></span>51% <span class=\"_ _8\"></span>della <span class=\"_ _11\"></span>societ\u00e0 <span class=\"_ _8\"></span>Ge<span class=\"_ _1\"></span>oline<span class=\"_ _26a\"> </span>Electronic Srl <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Tec<span class=\"_ _1\"></span>omec S.r.<span class=\"_ _1\"></span>l. avv<span class=\"_ _1\"></span>enuta ne<span class=\"_ _1\"></span>l mese <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>gennaio <span class=\"_ _1\"></span>2014. <span class=\"_ _1\"></span>A <span class=\"_ _1\"></span>seguito <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>operazione <span class=\"_ _1\"></span>di<span class=\"_ _26a\"> </span>scissione totale, avvenuta a fine 2019, la <span class=\"_ _3\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 \u00e8 <span class=\"_ _3\"></span>stat<span class=\"_ _1\"></span>a sciolta con trasferimento del business relativo al<span class=\"_ _26a\"> </span>ramo <span class=\"_ _8\"></span>d\u2019azienda<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>\u201cGruppi <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>comando, <span class=\"_ _8\"></span>valvole <span class=\"_ _8\"></span>el<span class=\"_ _1\"></span>ettriche <span class=\"_ _8\"></span>e <span class=\"_ _8\"></span>flussom<span class=\"_ _1\"></span>etri\u201d <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>ontrollante <span class=\"_ _8\"></span>Tecomec<span class=\"_ _1\"></span> che prosegue in tale att<span class=\"_ _1\"></span>ivit\u00e0.<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _1\"></span>isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>634 <span class=\"_ _8\"></span>migliaia <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Euro<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>si <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>iferisce <span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>differenz<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>em<span class=\"_ _1\"></span>ersa <span class=\"_ _1\"></span>nel <span class=\"_ _8\"></span>2014 <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>a <span class=\"_ _1\"></span>il <span class=\"_ _8\"></span>prezzo <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>acquisizione  pagato  da <span class=\"_ _1e\"> </span>Comet  Spa  per <span class=\"_ _1e\"> </span>il  55%<span class=\"_ _1\"></span>  della <span class=\"_ _1e\"> </span>societ<span class=\"_ _1\"></span>\u00e0  S.I.Agro <span class=\"_ _1e\"> </span>Mex<span class=\"_ _1\"></span>ico<span class=\"_ _1\"></span>  (con <span class=\"_ _1e\"> </span>i<span class=\"_ _1\"></span>l  qu<span class=\"_ _3\"></span>ale  veniva<span class=\"_ _26a\"> </span>incrementata <span class=\"_ _1\"></span>la <span class=\"_ _8\"></span>quota <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>artecipazione <span class=\"_ _8\"></span>dal <span class=\"_ _1\"></span>30% <span class=\"_ _8\"></span>all\u2019<span class=\"_ _1\"></span><span class=\"ff2\">85%) <span class=\"_ _8\"></span>ed <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>patr<span class=\"_ _1\"></span>imonio <span class=\"_ _1\"></span>netto <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>o-<span class=\"_ _1\"></span>quota <span class=\"_ _1\"></span>acquisito. <span class=\"_ _8\"></span>Nel<span class=\"_ _26a\"> </span></span>corso <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>primo <span class=\"_ _20\"> </span>se<span class=\"_ _1\"></span>mestre <span class=\"_ _20\"></span>2019 <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>Gru<span class=\"_ _1\"></span>ppo <span class=\"_ _20\"></span>ha <span class=\"_ _11\"></span>portato <span class=\"_ _20\"> </span>la <span class=\"_ _20\"></span>propria <span class=\"_ _20\"></span>parteci<span class=\"_ _1\"></span>pazione <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>100<span class=\"_ _1\"></span>% <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span>l<span class=\"_ _1\"></span>\u2019acquisto<span class=\"_ _26a\"> </span>dell\u2019ulteriore 15%. <span class=\"_ _1\"></span><span class=\"ff2\"> </span>L\u2019importo p<span class=\"_ _1\"></span>ari a <span class=\"_ _1\"></span>9.912 mig<span class=\"_ _1\"></span>liaia di <span class=\"_ _1\"></span>Euro s<span class=\"_ _1\"></span>i riferisce <span class=\"_ _1\"></span>all\u2019avviamento r<span class=\"_ _1\"></span>ilevato n<span class=\"_ _1\"></span>ell\u2019ambito de<span class=\"_ _1\"></span>ll\u2019acquisizione <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span>100% della societ\u00e0 <span class=\"_ _1\"></span>Lemasa<span class=\"_ _1\"></span> -ad oggi fusa<span class=\"_ _1\"></span> in Comet do<span class=\"_ _1\"></span> Brasil <span class=\"_ _1\"></span>- avvenuta <span class=\"_ _1\"></span>nel corso del 20<span class=\"_ _1\"></span>15, di cui il 30%<span class=\"_ _26a\"> </span>regolato <span class=\"_ _8\"></span>da <span class=\"_ _8\"></span>un\u2019opzione <span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>&amp; <span class=\"_ _8\"></span>Call <span class=\"_ _11\"></span><span class=\"ff2\">esercitata <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>202<span class=\"_ _1\"></span>0. <span class=\"_ _8\"></span>Tale <span class=\"_ _8\"></span>avviamento <span class=\"_ _8\"></span>\u00e8 <span class=\"_ _8\"></span>stato <span class=\"_ _8\"></span>isc<span class=\"_ _1\"></span>ritto <span class=\"_ _1\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>differenza<span class=\"_ _26a\"> </span></span></span>tra la <span class=\"_ _1\"></span>stima <span class=\"_ _1\"></span>del v<span class=\"_ _1\"></span>alore <span class=\"_ _1\"></span>attuale <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>prezzo <span class=\"_ _1\"></span>di acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _1\"></span>del 1<span class=\"_ _1\"></span>00%<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>societ<span class=\"_ _1\"></span>\u00e0, d<span class=\"_ _1\"></span>eterminato <span class=\"_ _1\"></span>alla d<span class=\"_ _1\"></span>ata d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>acquisizione, e il <span class=\"ff7\">fa<span class=\"_ _1\"></span>ir value</span> <span class=\"_ _1\"></span>del suo Patrimonio <span class=\"_ _1\"></span>Netto. Nel corso dell\u2019esercizio <span class=\"_ _3\"></span>2016, a seguito di <span class=\"ff7\">impairment test<span class=\"ff2\">, tale <span class=\"_ _3\"></span>avviamento era stato parzialmente ridotto<span class=\"_ _26a\"> </span></span></span>per 4.811 migliaia di <span class=\"_ _1\"></span>Euro. L\u2019importo <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>17.490 <span class=\"_ _20\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _20\"></span>Euro <span class=\"_ _11\"></span>include <span class=\"_ _20\"> </span>il <span class=\"_ _11\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _11\"></span>dell\u2019avv<span class=\"_ _1\"></span>iamento <span class=\"_ _11\"></span>acqu<span class=\"_ _1\"></span>isito <span class=\"_ _11\"></span>dal <span class=\"_ _20\"></span>consolidamento <span class=\"_ _20\"></span>del<span class=\"_ _26a\"> </span>Gruppo <span class=\"_ _1\"></span>L<span class=\"_ _1\"></span>avorwash <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>253 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>E<span class=\"_ _1\"></span>uro <span class=\"_ _1\"></span>e,<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>17.<span class=\"_ _1\"></span>237 <span class=\"_ _8\"></span>migliaia <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>Euro, <span class=\"_ _8\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>parte <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>prezzo <span class=\"_ _8\"></span>allocata<span class=\"_ _26a\"> </span>ad avviamento riferit<span class=\"_ _1\"></span>o all\u2019acquisiz<span class=\"_ _1\"></span>ione del 97,78% del <span class=\"_ _1\"></span>medesimo Grup<span class=\"_ _1\"></span><span class=\"ff2\">p<span class=\"_ _1\"></span>o.<span class=\"_ _26a\"> </span></span>L\u2019avviamento, <span class=\"_ _20\"></span>iscritto <span class=\"_ _11\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>2<span class=\"_ _1\"></span>018 <span class=\"_ _11\"></span>per <span class=\"_ _20\"></span>200 <span class=\"_ _11\"></span>mi<span class=\"_ _1\"></span>gliaia <span class=\"_ _11\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>Eu<span class=\"_ _1\"></span>ro <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>rif<span class=\"_ _1\"></span>erisce <span class=\"_ _11\"></span>alla <span class=\"_ _20\"></span>differenz<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>emers<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>tra <span class=\"_ _20\"></span>il <span class=\"_ _11\"></span>valore<span class=\"_ _26a\"> </span>dell\u2019aumento <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>apitale <span class=\"_ _11\"></span>so<span class=\"_ _1\"></span>ciale <span class=\"_ _11\"></span>sottoscritto <span class=\"_ _20\"></span>da <span class=\"_ _11\"></span>Tecomec<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>S.r.l. <span class=\"_ _11\"></span>per <span class=\"_ _11\"></span>il <span class=\"_ _20\"></span>51%<span class=\"_ _1\"></span><span class=\"ff2\"> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ella <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ociet\u00e0 <span class=\"_ _11\"></span>Spraycom<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>ed <span class=\"_ _20\"></span>il<span class=\"_ _26a\"> </span></span>patrimonio netto pro-<span class=\"_ _1\"></span>quota ac<span class=\"_ _1\"></span>quisito.<span class=\"_ _26a\"> </span>L<span class=\"ff5\">\u2019importo <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>1.585 <span class=\"_ _11\"></span>migliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _11\"></span>si <span class=\"_ _11\"></span>riferisce <span class=\"_ _11\"></span>all\u2019avv<span class=\"_ _1\"></span>iamento <span class=\"_ _11\"></span>rilevato <span class=\"_ _11\"></span>nell\u2019ambito <span class=\"_ _20\"></span>dell\u2019acquisizione <span class=\"_ _11\"></span>della<span class=\"_ _26a\"> </span></span>societ\u00e0 <span class=\"_ _1e\"> </span>Markuss<span class=\"_ _1\"></span>on <span class=\"_ _1e\"> </span>avvenuta <span class=\"_ _1e\"> </span>n<span class=\"_ _1\"></span>el <span class=\"_ _1e\"> </span>corso <span class=\"_ _1f\"> </span>del <span class=\"_ _1e\"> </span>2020, <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _1e\"> </span>cui <span class=\"_ _1e\"> </span>il <span class=\"_ _1f\"> </span>49% <span class=\"_ _1e\"> </span>regolat<span class=\"_ _1\"></span>o <span class=\"_ _1e\"> </span>da <span class=\"_ _1e\"> </span>un\u2019o<span class=\"_ _1\"></span>pzione  <span class=\"ff7\">Put <span class=\"_ _1f\"> </span>&amp; <span class=\"_ _1e\"> </span>Call<span class=\"ff2\">.</span> </span>L\u2019avviamento<span class=\"ff2\">, <span class=\"_ _1\"></span>riferito <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>100%, <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>stato <span class=\"_ _1\"></span>determinat<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>quale d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _1\"></span>tra <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>value<span class=\"_ _1\"></span></span> del<span class=\"_ _1\"></span>le attivit<span class=\"_ _1\"></span>\u00e0 nette <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>il<span class=\"_ _26a\"> </span></span>prezzo <span class=\"_ _23\"></span>di <span class=\"_ _23\"></span>acquisizione <span class=\"_ _23\"></span>che<span class=\"_ _1\"></span>, <span class=\"_ _23\"></span>per <span class=\"_ _23\"></span>la <span class=\"_ _23\"></span>parte <span class=\"_ _23\"></span>oggetto <span class=\"_ _23\"></span>di <span class=\"_ _21\"> </span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t <span class=\"_ _23\"> </span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>C<span class=\"_ _1\"></span>all <span class=\"_ _21\"> </span>o<span class=\"_ _1\"></span>ption</span>, <span class=\"_ _23\"></span>\u00e8 <span class=\"_ _23\"></span>oggetto <span class=\"_ _23\"> </span>di <span class=\"_ _23\"></span>valorizz<span class=\"_ _1\"></span>azione <span class=\"_ _23\"> </span>in<span class=\"_ _26a\"> </span>funzione <span class=\"_ _12\"> </span>dei <span class=\"_ _12\"> </span>risultati <span class=\"_ _12\"> </span>economico<span class=\"_ _1\"></span>-<span class=\"ff5\">finanziari<span class=\"_ _1\"></span> <span class=\"_ _12\"> </span>futuri, <span class=\"_ _12\"> </span>il <span class=\"_ _12\"> </span>valore <span class=\"_ _12\"> </span>dell\u2019avviam<span class=\"_ _1\"></span>ento, <span class=\"_ _12\"> </span>quindi, <span class=\"_ _12\"> </span>\u00e8 <span class=\"_ _12\"> </span>stat<span class=\"_ _1\"></span></span>o <span class=\"_ _12\"> </span>iscritto<span class=\"_ _26a\"> </span>inizialmente <span class=\"_ _2\"></span>utilizz<span class=\"_ _1\"></span>ando <span class=\"_ _2\"></span>la <span class=\"_ _2\"></span>miglior <span class=\"_ _2\"></span>stima <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>valore <span class=\"_ _2\"></span>attual<span class=\"_ _1\"></span>e <span class=\"_ _2\"></span>del <span class=\"_ _2\"></span>prezzo <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>eserc<span class=\"_ _1\"></span>izio <span class=\"_ _2\"></span>delle <span class=\"_ _2\"></span>opzio<span class=\"_ _1\"></span>ni, <span class=\"_ _2\"></span>determinato<span class=\"_ _26a\"> </span>sulla base del relativo <span class=\"_ _1\"></span><span class=\"ff7\">business plan<span class=\"_ _1\"></span></span>.<span class=\"_ _26a\"> </span><span class=\"ff5\">L\u2019importo <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>7.<span class=\"_ _1\"></span>477 <span class=\"_ _8\"></span>migliai<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Eur<span class=\"_ _1\"></span>o</span> <span class=\"_ _11\"></span><span class=\"ff5\">include <span class=\"_ _8\"></span>il <span class=\"_ _8\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _8\"></span>dell\u2019avvia<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>riferito <span class=\"_ _11\"></span>alla <span class=\"_ _8\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Agres, <span class=\"_ _11\"></span>acquisita<span class=\"_ _26a\"> </span></span>nel corso del 2020. L\u2019avviamento \u00e8 <span class=\"_ _3\"></span>stato determi<span class=\"_ _1\"></span>nato quale differenza tra il <span class=\"ff7\">fair value<span class=\"ff2\"> delle attivit\u00e0 nette e<span class=\"_ _26a\"> </span></span></span>il prezzo <span class=\"_ _1\"></span>di acq<span class=\"_ _1\"></span>uisizione c<span class=\"_ _1\"></span>he, per<span class=\"_ _1\"></span> la <span class=\"_ _1\"></span>parte ogget<span class=\"_ _1\"></span>to di <span class=\"_ _8\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>&amp; Ca<span class=\"_ _1\"></span>ll opt<span class=\"_ _1\"></span>ion</span>, \u00e8<span class=\"_ _1\"></span> stato <span class=\"_ _1\"></span>valorizz<span class=\"_ _1\"></span>ato in <span class=\"_ _1\"></span>funzione <span class=\"_ _1\"></span>dei<span class=\"_ _26a\"> </span>risultati <span class=\"_ _1e\"> </span>economico<span class=\"_ _1\"></span>-finanzi<span class=\"_ _1\"></span>ari <span class=\"_ _1e\"> </span>previst<span class=\"_ _1\"></span>i<span class=\"ff5\">; <span class=\"_ _1e\"> </span>il <span class=\"_ _1e\"> </span>valore <span class=\"_ _1e\"> </span>d<span class=\"_ _1\"></span>ell\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8 <span class=\"_ _1e\"> </span>s<span class=\"_ _1\"></span>tato <span class=\"_ _1e\"> </span>quindi  iscritto <span class=\"_ _21\"> </span>orig<span class=\"_ _1\"></span>inariamente<span class=\"_ _26a\"> </span></span>utilizzando la miglior stima del valore attuale del prezzo di esercizio delle opzioni, determinato<span class=\"_ _1\"></span> sulla <span class=\"_ _1\"></span>base<span class=\"_ _26a\"> </span>del relativo <span class=\"ff7\">busines<span class=\"_ _1\"></span>s plan</span>.<span class=\"_ _1\"></span> L\u2019avviamento <span class=\"_ _8\"></span>iscritto <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>1.815 <span class=\"_ _8\"></span>migliaia <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>Euro <span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>20<span class=\"_ _1\"></span>21, <span class=\"_ _1\"></span>emerge <span class=\"_ _8\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>conso<span class=\"_ _1\"></span>lidamento <span class=\"_ _8\"></span>della <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Poli<span class=\"_ _26a\"> </span>quale <span class=\"_ _1\"></span>differenza <span class=\"_ _1\"></span>tra<span class=\"_ _1\"></span> i<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span><span class=\"ff7\">fair <span class=\"_ _1\"></span>valu<span class=\"_ _1\"></span>e</span> <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>attivit\u00e0 <span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>ette <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>prezz<span class=\"_ _1\"></span>o di <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uisizione <span class=\"_ _1\"></span>che,<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>la <span class=\"_ _1\"></span>parte <span class=\"_ _1\"></span>oggetto<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>Put <span class=\"_ _1e\"> </span>&amp;  Call <span class=\"_ _1e\"> </span><span class=\"ff2\">option <span class=\"_ _1f\"> </span>riferito  al <span class=\"_ _21\"> </span>2<span class=\"_ _1\"></span>0% <span class=\"_ _1e\"> </span>de<span class=\"_ _1\"></span>lla <span class=\"_ _1e\"> </span>soc<span class=\"_ _1\"></span>iet\u00e0,  \u00e8 <span class=\"_ _1e\"> </span>oggetto  di <span class=\"_ _1e\"> </span>valorizzazione  in <span class=\"_ _1e\"> </span>funzione  dei <span class=\"_ _21\"> </span>r<span class=\"_ _1\"></span>isultati<span class=\"_ _26a\"> </span></span>economico-<span class=\"ff5\">finanz<span class=\"_ _1\"></span>iari <span class=\"_ _1e\"> </span>futuri<span class=\"_ _1\"></span>. <span class=\"_ _1f\"> </span>L\u2019avviamento <span class=\"_ _1e\"> </span>\u00e8  stato <span class=\"_ _1e\"> </span>quindi  iscritto <span class=\"_ _1e\"> </span>originariamente<span class=\"_ _1\"></span> <span class=\"_ _1e\"> </span>tenen<span class=\"_ _1\"></span>do <span class=\"_ _1e\"> </span>conto  della<span class=\"_ _26a\"> </span></span>miglior stima del valore attuale del prezzo di esercizio<span class=\"_ _1\"></span> di tali opzioni, determinato<span class=\"_ _1\"></span> sulla base del <span class=\"ff7\">business<span class=\"_ _26a\"> </span></span>plan <span class=\"ff2\">della Societ\u00e0 <span class=\"_ _1\"></span>Poli S.r.l.<span class=\"_ _1\"></span> </span>L\u2019avviamento<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>riferito alla <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>ciet\u00e0 <span class=\"_ _3\"></span>Trebol Maquinaria <span class=\"_ _3\"></span>y Suministros <span class=\"_ _3\"></span>S.A \u00e8 <span class=\"_ _2\"></span>stato iscritto <span class=\"_ _3\"></span>al 31 <span class=\"_ _2\"></span>dicembre<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>2022<span class=\"_ _26a\"> </span>per <span class=\"_ _8\"></span>1.1<span class=\"_ _1\"></span>91 <span class=\"_ _8\"></span>m<span class=\"_ _1\"></span>igliaia <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>Euro <span class=\"_ _8\"></span>qua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>ifferenza <span class=\"_ _11\"></span>tra <span class=\"_ _8\"></span>il <span class=\"_ _20\"></span><span class=\"ff7\">fair <span class=\"_ _11\"></span>value</span> <span class=\"_ _11\"></span>delle <span class=\"_ _8\"></span>att<span class=\"_ _1\"></span>ivit\u00e0 <span class=\"_ _11\"></span>nette <span class=\"_ _8\"></span>al <span class=\"_ _11\"></span>30 <span class=\"_ _11\"></span>settembre <span class=\"_ _11\"></span>2022 <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>prezzo di acquisizio<span class=\"_ _1\"></span>ne riferito all\u2019 83,33%<span class=\"_ _1\"></span> della societ\u00e0.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Impairment test<span class=\"_ _1\"></span> Il <span class=\"_ _1\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>verifica <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>rec<span class=\"_ _1\"></span>uperabilit\u00e0 <span class=\"_ _8\"></span>dell\u2019av<span class=\"_ _1\"></span>viamento <span class=\"_ _8\"></span>almeno <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>volta <span class=\"_ _8\"></span>l\u2019anno <span class=\"_ _8\"></span>o <span class=\"_ _8\"></span>pi\u00f9 <span class=\"_ _8\"></span>frequentem<span class=\"_ _1\"></span>ente <span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>vi <span class=\"_ _1\"></span>so<span class=\"_ _1\"></span>no<span class=\"_ _26a\"> </span>indicatori <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>perdita <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>valor<span class=\"_ _1\"></span>e. <span class=\"_ _11\"></span>Tale <span class=\"_ _8\"></span>v<span class=\"_ _1\"></span>erifica <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _11\"></span>effettuata<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>attraverso <span class=\"_ _11\"></span>la <span class=\"_ _11\"></span>determinazio<span class=\"_ _1\"></span>ne <span class=\"_ _11\"></span>del<span class=\"_ _1\"></span><span class=\"ff8\"> <span class=\"_ _11\"></span></span>valore <span class=\"_ _11\"></span>recuperabile<span class=\"_ _26a\"> </span>della <span class=\"ff7\">Cash Generat<span class=\"_ _1\"></span>ing Unit<span class=\"_ _1\"></span></span> <span class=\"ff5\">(CGU) di riferiment<span class=\"_ _1\"></span>o, tramite il metodo d<span class=\"_ _1\"></span>el \u201c<span class=\"ff7\">D<span class=\"_ _1\"></span>iscounted c<span class=\"_ _1\"></span>ash flow</span>\u201d. <span class=\"_ _1\"></span></span> I piani, l<span class=\"_ _3\"></span>e metodologie e i <span class=\"_ _3\"></span>risultati dell\u2019 \u201c<span class=\"fff\">impairment test<span class=\"_ _1\"></span>\u201d<span class=\"ff2\"> come sopra i<span class=\"_ _3\"></span>llustrati sono stati approvati dal <span class=\"_ _3\"></span>Consigl<span class=\"_ _1\"></span>io<span class=\"_ _26a\"> </span></span></span>di Amministrazione <span class=\"_ _1\"></span>in data 28 febbra<span class=\"_ _1\"></span>io 2023, con il par<span class=\"_ _1\"></span>ere del Comitato Con<span class=\"_ _1\"></span>trollo Rischi e Sos<span class=\"_ _1\"></span>tenibilit\u00e0<span class=\"_ _8\"></span><span class=\"ff8\">.<span class=\"_ _26a\"> </span></span>I piani pluri<span class=\"_ _1\"></span>ennali sono i<span class=\"_ _1\"></span>noltre s<span class=\"_ _1\"></span>tati oggetto di <span class=\"_ _1\"></span>approvaz<span class=\"_ _1\"></span>ione da parte <span class=\"_ _1\"></span>dei rispett<span class=\"_ _1\"></span>ivi <span class=\"_ _8\"></span>Consigli <span class=\"_ _1\"></span>di Amm<span class=\"_ _1\"></span>inistrazione<span class=\"_ _26a\"> </span>delle sub-holding <span class=\"_ _1\"></span>a cui appartien<span class=\"_ _1\"></span>e ogni CGU.<span class=\"_ _1\"></span> I <span class=\"_ _20\"></span>fattori <span class=\"_ _20\"></span>che <span class=\"_ _20\"></span>hanno <span class=\"_ _23\"></span>maggiore <span class=\"_ _20\"></span>rilevanza <span class=\"_ _20\"></span>nelle <span class=\"_ _20\"></span>st<span class=\"_ _1\"></span>ime <span class=\"_ _20\"></span>dei <span class=\"_ _20\"></span>flussi <span class=\"_ _20\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>cassa <span class=\"_ _20\"></span>futuri <span class=\"_ _20\"></span>s<span class=\"_ _1\"></span>ono <span class=\"_ _20\"></span>riconducibili <span class=\"_ _20\"></span>al<span class=\"_ _1\"></span>la <span class=\"_ _20\"></span>difficolt\u00e0<span class=\"_ _26a\"> </span>intrinseca della <span class=\"_ _3\"></span>formulazion<span class=\"_ _1\"></span>e di <span class=\"_ _2\"></span>prev<span class=\"_ _1\"></span>isioni future, alla <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>alizzabili<span class=\"_ _1\"></span>t\u00e0 di <span class=\"_ _3\"></span>strategie di mercato <span class=\"_ _3\"></span>in contesti <span class=\"_ _3\"></span>altamente<span class=\"_ _1\"></span> competitivi, <span class=\"_ _11\"></span>nonch\u00e9 <span class=\"_ _11\"></span>ai <span class=\"_ _11\"></span>rischi <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>natura <span class=\"_ _11\"></span>macroeconomica <span class=\"_ _11\"></span>e <span class=\"_ _11\"></span>geo<span class=\"_ _1\"></span>-po<span class=\"_ _1\"></span>litica <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>onnessi <span class=\"_ _11\"></span>alle <span class=\"_ _11\"></span>aree <span class=\"_ _11\"></span>geografiche <span class=\"_ _11\"></span>in <span class=\"_ _11\"></span>cui<span class=\"_ _26a\"> </span>opera il Gruppo Emak.<span class=\"_ _1\"></span> Il <span class=\"ff7\">Ma<span class=\"_ _1\"></span>nagement</span> <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>tenuto <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onto nel<span class=\"_ _1\"></span>le pro<span class=\"_ _1\"></span>prie str<span class=\"_ _1\"></span>ategie <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>business <span class=\"_ _1\"></span>dei <span class=\"_ _1\"></span>rischi <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>opportun<span class=\"_ _1\"></span>it\u00e0 di <span class=\"_ _11\"></span><span class=\"ff7\">transizione</span> climate-related<span class=\"ff2\"> <span class=\"_ _21\"> </span>che <span class=\"_ _23\"> </span>ma<span class=\"_ _1\"></span>ggiormente <span class=\"_ _21\"> </span>potrebbero <span class=\"_ _21\"> </span>influenz<span class=\"_ _1\"></span>are <span class=\"_ _23\"> </span>i <span class=\"_ _23\"> </span>fl<span class=\"_ _1\"></span>ussi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>assa <span class=\"_ _23\"> </span>fut<span class=\"_ _1\"></span>uri <span class=\"_ _23\"> </span>declinand<span class=\"_ _1\"></span>oli <span class=\"_ _23\"> </span>sui <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>eguenti<span class=\"_ _26a\"> </span></span>aspetti principali:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>Evoluz<span class=\"_ _1\"></span>ione normativa d<span class=\"_ _1\"></span>ei pro<span class=\"_ _1\"></span>dotti;<span class=\"_ _26a\"> </span></span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Evoluz<span class=\"_ _1\"></span>ione delle pr<span class=\"_ _1\"></span>eferenze dei consumat<span class=\"_ _1\"></span>ori;<span class=\"_ _1\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>Sup<span class=\"_ _1\"></span>ply-chain dei fattor<span class=\"_ _1\"></span>i energetici.<span class=\"_ _1\"></span> </span>I<span class=\"ff2\">l t<span class=\"_ _1\"></span>asso <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>sconto <span class=\"_ _1\"></span>ut<span class=\"_ _1\"></span>ilizzato <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>attualizzare<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>flussi <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _1\"></span>futuri<span class=\"_ _1\"></span> att<span class=\"_ _1\"></span>esi <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>stato <span class=\"_ _1\"></span>determi<span class=\"_ _1\"></span>nato <span class=\"_ _1\"></span>per <span class=\"_ _1\"></span>singo<span class=\"_ _1\"></span>la CG<span class=\"_ _1\"></span>U.<span class=\"_ _26a\"> </span></span>Tale <span class=\"_ _8\"></span>tasso <span class=\"_ _8\"></span>(<span class=\"ff7\">WACC</span>) <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>iflette <span class=\"_ _8\"></span>la <span class=\"_ _8\"></span>valutazi<span class=\"_ _1\"></span>one <span class=\"_ _8\"></span>corrente <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>mercato <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>tempor<span class=\"_ _1\"></span>ale <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>denaro <span class=\"_ _8\"></span>per <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>periodo<span class=\"_ _26a\"> </span>considerato e i rischi speci<span class=\"_ _1\"></span>fici delle societ\u00e0 de<span class=\"_ _1\"></span>l Gruppo Emak e de<span class=\"_ _1\"></span>i settori di riferi<span class=\"_ _1\"></span>mento.<span class=\"_ _8\"></span> Al fine d<span class=\"_ _1\"></span>i effettuare <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>test di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span><span class=\"ff7\">impairment<span class=\"_ _1\"></span></span> sulla r<span class=\"_ _1\"></span>ecuperabilit\u00e0 <span class=\"_ _1\"></span>dei va<span class=\"_ _1\"></span>lori di <span class=\"_ _1\"></span>avviament<span class=\"_ _1\"></span>o, il <span class=\"_ _1\"></span><span class=\"ff7\">d<span class=\"_ _1\"></span>iscounted <span class=\"_ _1\"></span>cash <span class=\"_ _1\"></span>flow</span> <span class=\"ls31\">\u00e8<span class=\"_ _26a\"> </span></span>stato calcolato sulla base <span class=\"_ _1\"></span>delle seguent<span class=\"_ _1\"></span>i ipotesi:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>i <span class=\"_ _23\"></span>flussi <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>assa <span class=\"_ _23\"> </span>son<span class=\"_ _1\"></span>o <span class=\"_ _23\"> </span>quel<span class=\"_ _1\"></span>li <span class=\"_ _23\"></span>desunti <span class=\"_ _21\"> </span>dai <span class=\"_ _23\"> </span>p<span class=\"_ _1\"></span>iani <span class=\"_ _23\"> </span>trien<span class=\"_ _1\"></span>nali <span class=\"_ _23\"> </span>o <span class=\"_ _23\"> </span>q<span class=\"_ _1\"></span>uinquennali <span class=\"_ _21\"> </span>delle <span class=\"_ _23\"> </span>soc<span class=\"_ _1\"></span>iet\u00e0, <span class=\"_ _23\"> </span>approv<span class=\"_ _1\"></span>ati <span class=\"_ _23\"> </span>da<span class=\"_ _1\"></span>l<span class=\"_ _26a\"> </span></span>Consiglio di <span class=\"_ _1\"></span>Amministraz<span class=\"_ _1\"></span>ione, che r<span class=\"_ _1\"></span>appresenta<span class=\"_ _1\"></span>no la m<span class=\"_ _1\"></span>iglior stima <span class=\"_ _1\"></span>del <span class=\"_ _8\"></span><span class=\"ff7\">Managem<span class=\"_ _1\"></span>ent</span> r<span class=\"_ _1\"></span>elativamente <span class=\"_ _1\"></span>alle<span class=\"_ _26a\"> </span>performance operative f<span class=\"_ _1\"></span>uture delle sing<span class=\"_ _1\"></span>ole entit\u00e0 nel period<span class=\"_ _1\"></span>o considerato; <span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>tali <span class=\"_ _3\"></span>flussi sono riferiti alle unit\u00e0 di <span class=\"_ _3\"></span>riferi<span class=\"_ _1\"></span>mento nelle condizioni attuali ed escludono eventuali operazioni<span class=\"_ _1\"></span> </span>di natura non ordinar<span class=\"_ _1\"></span>ia e/o operazion<span class=\"_ _1\"></span>i non ancora definite <span class=\"_ _1\"></span><span class=\"ff5\">al<span class=\"_ _1\"></span>la data di chiusura d<span class=\"_ _1\"></span>ell\u2019esercizio; <span class=\"_ _8\"></span></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span>i flussi di cassa futuri attesi s<span class=\"_ _1\"></span>ono stati stimati nelle sing<span class=\"_ _1\"></span>ole valute in cui gli stess<span class=\"_ _1\"></span>i saranno ge<span class=\"_ _1\"></span>nerati; <span class=\"_ _8\"></span> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span>i <span class=\"_ _11\"></span>flussi <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>cas<span class=\"_ _1\"></span>sa <span class=\"_ _11\"></span>fu<span class=\"_ _1\"></span>turi <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>ttesi <span class=\"_ _20\"></span>sono <span class=\"_ _20\"></span>riferiti <span class=\"_ _20\"></span>ad <span class=\"_ _20\"></span>un <span class=\"_ _20\"></span>periodo <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>3/5 <span class=\"_ _20\"></span>ann<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>e <span class=\"_ _20\"></span>includon<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>un <span class=\"_ _11\"></span>val<span class=\"_ _1\"></span>ore <span class=\"_ _11\"></span>term<span class=\"_ _1\"></span>inale<span class=\"_ _26a\"> </span></span>norm<span class=\"ff5\">alizzato <span class=\"_ _21\"> </span>impiegato <span class=\"_ _21\"> </span>per <span class=\"_ _21\"> </span>esprimere <span class=\"_ _21\"> </span>una <span class=\"_ _23\"> </span>st<span class=\"_ _1\"></span>ima <span class=\"_ _23\"> </span>s<span class=\"_ _1\"></span>intetica <span class=\"_ _23\"> </span>de<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>risultat<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>futuri <span class=\"_ _21\"> </span>oltr<span class=\"_ _1\"></span>e <span class=\"_ _23\"> </span>l\u2019arco <span class=\"_ _21\"> </span>temporal<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>esplicitamente considerat<span class=\"_ _1\"></span>o;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ls21\">i <span class=\"_ _1e\"> </span></span><span class=\"ff7\">WACC</span> <span class=\"_ _21\"> </span><span class=\"ff5\">utilizzati <span class=\"_ _21\"> </span>p<span class=\"_ _1\"></span>er <span class=\"_ _21\"> </span>l\u2019attualizzazione <span class=\"_ _1e\"> </span>dei <span class=\"_ _23\"> </span>fl<span class=\"_ _1\"></span>ussi <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>cass<span class=\"_ _1\"></span>a <span class=\"_ _23\"> </span>futuri <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>no <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>eterminati <span class=\"_ _21\"> </span>sul<span class=\"_ _1\"></span>la <span class=\"_ _21\"> </span>base <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>elle<span class=\"_ _26a\"> </span></span></span>seguenti assunzioni:<span class=\"_ _1\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _22\"> </span>il <span class=\"_ _3\"></span>costo del <span class=\"_ _2\"></span>de<span class=\"_ _1\"></span>bito rifl<span class=\"_ _3\"></span>ette un <span class=\"_ _3\"></span>costo del <span class=\"_ _2\"></span>debit<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>a valori <span class=\"_ _3\"></span>di mercato, <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>eterminato come <span class=\"_ _3\"></span>somma del<span class=\"_ _26a\"> </span></span>tasso <span class=\"_ _8\"></span>IRS/SWAP <span class=\"_ _11\"></span>dell\u2019area <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>riferi<span class=\"_ _1\"></span>mento <span class=\"_ _8\"></span>con <span class=\"_ _8\"></span>sc<span class=\"_ _1\"></span>adenza <span class=\"_ _8\"></span>10 <span class=\"_ _8\"></span>anni <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>rendime<span class=\"_ _1\"></span>nto <span class=\"_ _8\"></span>medio <span class=\"_ _8\"></span>dei <span class=\"_ _11\"></span>6<span class=\"_ _26a\"> </span>mesi preceden<span class=\"_ _1\"></span>ti al 31 <span class=\"_ _1\"></span>dicembre 20<span class=\"_ _1\"></span>22 a cu<span class=\"_ _1\"></span>i \u00e8 a<span class=\"_ _1\"></span>ggiunto <span class=\"_ _1\"></span>uno <span class=\"_ _1\"></span><span class=\"ff7\">sprea<span class=\"_ _1\"></span>d</span> determi<span class=\"_ _1\"></span>nato s<span class=\"_ _1\"></span>ulla base d<span class=\"_ _1\"></span>el<span class=\"_ _26a\"> </span>costo di indebitamento e<span class=\"_ _1\"></span>ffettivo relativo a<span class=\"_ _1\"></span>i finanziamenti corr<span class=\"_ _1\"></span>enti del Gruppo;<span class=\"_ _8\"></span> \u2022<span class=\"ff2\"> <span class=\"_ _2f\"> </span>il costo del capitale proprio riflette il rendimento dei titoli stato a 10 a<span class=\"_ _3\"></span>nni <span class=\"_ _1\"></span><span class=\"ff7\">(risk free)</span> medio dei 6<span class=\"_ _26a\"> </span></span>mesi <span class=\"_ _23\"></span>precedenti <span class=\"_ _23\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>31 <span class=\"_ _23\"> </span>dicembre <span class=\"_ _21\"> </span>2022 <span class=\"_ _23\"> </span>aumentat<span class=\"_ _1\"></span>o <span class=\"_ _23\"></span>di <span class=\"_ _23\"> </span>un <span class=\"_ _23\"> </span>pr<span class=\"_ _1\"></span>emio <span class=\"_ _23\"></span>per <span class=\"_ _23\"> </span>il <span class=\"_ _23\"> </span>risc<span class=\"_ _1\"></span>hio <span class=\"_ _23\"></span>di <span class=\"_ _23\"> </span>mercato <span class=\"_ _23\"> </span>e<span class=\"_ _1\"></span> ponderato per un <span class=\"ff7\">beta levered </span>specifico di settore<span class=\"ff7 ls2a\">, </span>considerando altres\u00ec un <span class=\"ff7\">execution risk</span> pari<span class=\"_ _26a\"> </span>all\u20191% <span class=\"_ _8\"></span><span class=\"ff2\">al <span class=\"_ _8\"></span>fine<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>tenere <span class=\"_ _11\"></span>prudenzialment<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>in <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>nsiderazione <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>possibili<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>scostamenti <span class=\"_ _11\"></span>tra <span class=\"_ _1\"></span>risu<span class=\"_ _1\"></span>ltati<span class=\"_ _26a\"> </span></span>consuntivi e<span class=\"_ _1\"></span> dati <span class=\"_ _1\"></span>previsi<span class=\"_ _1\"></span>onali <span class=\"_ _1\"></span>nonch\u00e9 <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span><span class=\"ff7\">size r<span class=\"_ _1\"></span>isk prem<span class=\"_ _1\"></span>ium</span> <span class=\"_ _1\"></span>per rif<span class=\"_ _1\"></span>lettere la<span class=\"_ _1\"></span> rischios<span class=\"_ _1\"></span>it\u00e0 derivant<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>dalle dimensioni del Grup<span class=\"_ _1\"></span>po rispetto a<span class=\"_ _1\"></span>i <span class=\"ff7\">player<span class=\"_ _1\"></span></span> di mercato.<span class=\"_ _1\"></span><span class=\"ff7\"> </span>-<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ls5\">I </span><span class=\"ff7\">WACC</span> <span class=\"_ _3\"></span>cos\u00ec determinati sono pari a 9,5% per le <span class=\"_ _3\"></span>CGU localizza<span class=\"_ _1\"></span>te in Italia, 8,4% per quelle l<span class=\"_ _3\"></span>ocalizzat<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>in <span class=\"_ _2\"></span>Fr<span class=\"_ _1\"></span>ancia e <span class=\"_ _2\"></span>9,2% in <span class=\"_ _2\"></span>Sp<span class=\"_ _1\"></span>agna. <span class=\"_ _3\"></span>Per <span class=\"_ _3\"></span>le CGU <span class=\"_ _2\"></span>loca<span class=\"_ _1\"></span>lizzata <span class=\"_ _3\"></span>in Polonia <span class=\"_ _3\"></span>\u00e8 <span class=\"_ _3\"></span>pari al <span class=\"_ _2\"></span>11,5%, per <span class=\"_ _3\"></span>la <span class=\"_ _2\"></span>CGU<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>localizz<span class=\"_ _1\"></span>ata<span class=\"_ _26a\"> </span>in <span class=\"_ _2\"></span>Svezia <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>pari <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l <span class=\"_ _2\"></span>8%, <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _2\"></span>CGU <span class=\"_ _2\"></span>local<span class=\"_ _1\"></span>izzata <span class=\"_ _2\"></span>in <span class=\"_ _2\"></span>C<span class=\"_ _1\"></span>ina <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _2\"></span>pari <span class=\"_ _2\"></span>al <span class=\"_ _3\"></span>10,7%, <span class=\"_ _2\"></span>per <span class=\"_ _2\"></span>la <span class=\"_ _2\"></span>CG<span class=\"_ _1\"></span>U <span class=\"_ _2\"></span>localizzata <span class=\"_ _2\"></span>in <span class=\"_ _3\"></span>Messico<span class=\"_ _26a\"> </span>\u00e8 <span class=\"_ _3\"></span>pari al <span class=\"_ _2\"></span>12,4%<span class=\"_ _1\"></span>, pe<span class=\"_ _3\"></span>r la <span class=\"_ _2\"></span>CG<span class=\"_ _1\"></span>U localizzata <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>USA \u00e8 <span class=\"_ _2\"></span>p<span class=\"_ _1\"></span>ari al <span class=\"_ _2\"></span>8,8%, mentre <span class=\"_ _3\"></span>per le <span class=\"_ _3\"></span>CGU localizzate <span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>n B<span class=\"_ _3\"></span>rasil<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>\u00e8 stato utilizzato un <span class=\"_ _1\"></span><span class=\"ff7\">WACC</span> pari al 1<span class=\"_ _1\"></span>5,1%;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">il <span class=\"_ _11\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _23\"> </span>terminale <span class=\"_ _23\"> </span>\u00e8 <span class=\"_ _20\"></span>stato <span class=\"_ _23\"> </span>determinato <span class=\"_ _23\"> </span>sulla <span class=\"_ _20\"> </span>bas<span class=\"_ _1\"></span>e <span class=\"_ _20\"> </span>di <span class=\"_ _23\"> </span>un <span class=\"_ _20\"> </span>tass<span class=\"_ _1\"></span>o <span class=\"_ _20\"> </span>di <span class=\"_ _23\"> </span>crescita <span class=\"_ _23\"> </span>di <span class=\"_ _20\"></span>lungo <span class=\"_ _23\"> </span>periodo <span class=\"_ _20\"> </span>\u201c<span class=\"_ _1\"></span>g\u201d <span class=\"_ _23\"> </span>pari<span class=\"_ _26a\"> </span></span></span>all\u2019inflazione<span class=\"ff2\"> <span class=\"_ _2\"></span>a <span class=\"_ _2\"></span>lung<span class=\"_ _1\"></span>o <span class=\"_ _9\"></span>t<span class=\"_ _1\"></span>ermine <span class=\"_ _2\"></span>del<span class=\"_ _1\"></span> <span class=\"_ _9\"></span>p<span class=\"_ _1\"></span>aese <span class=\"_ _2\"></span>(fonte <span class=\"_ _2\"></span><span class=\"ff7\">I<span class=\"_ _1\"></span>nternatio<span class=\"_ _1\"></span>nal <span class=\"_ _2\"></span>Monetary <span class=\"_ _2\"></span>Fund<span class=\"_ _1\"></span><span class=\"ff2\">); <span class=\"_ _2\"></span>tale <span class=\"_ _2\"></span>tas<span class=\"_ _1\"></span>so <span class=\"_ _2\"></span>va <span class=\"_ _2\"></span>da <span class=\"_ _2\"></span>un <span class=\"_ _2\"></span>minimo<span class=\"_ _26a\"> </span></span></span></span>di 1,8% ad un mas<span class=\"_ _1\"></span>simo di 3,3% ;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _25\"> </span><span class=\"ff5\">per la determinazion<span class=\"_ _1\"></span>e del flus<span class=\"_ _1\"></span>so di cass<span class=\"_ _1\"></span>a operativo <span class=\"_ _1\"></span>basato sull\u2019ultimo <span class=\"_ _1\"></span>anno <span class=\"_ _1\"></span>di previsione <span class=\"_ _1\"></span>esplicita si <span class=\"_ _1\"></span>\u00e8<span class=\"_ _1\"></span> </span></span>provveduto <span class=\"_ _8\"></span>a <span class=\"_ _8\"></span>riflettere<span class=\"_ _1\"></span>, <span class=\"_ _8\"></span>al <span class=\"_ _8\"></span><span class=\"ff5\">fine <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>proi<span class=\"_ _1\"></span>ettare <span class=\"_ _8\"></span>\u201cin <span class=\"_ _8\"></span>perpetu<span class=\"_ _1\"></span>o\u201d <span class=\"_ _8\"></span>una <span class=\"_ _8\"></span>situazione <span class=\"_ _8\"></span>stabile, <span class=\"_ _8\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _8\"></span>bilanciamento <span class=\"_ _8\"></span>tr<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>investimenti <span class=\"_ _8\"></span>ed <span class=\"_ _11\"></span>ammortamenti <span class=\"_ _8\"></span>(nella <span class=\"_ _8\"></span>logica <span class=\"_ _11\"></span>di <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>onsiderare <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>livello <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>investime<span class=\"_ _1\"></span>nti <span class=\"_ _8\"></span>necessario <span class=\"_ _8\"></span>per <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>mantenimento del bus<span class=\"_ _1\"></span>iness)<span class=\"_ _1\"></span> e variazione di capitale c<span class=\"_ _1\"></span>ircolante pari a<span class=\"_ _1\"></span> zero.<span class=\"_ _1\"></span> Come <span class=\"_ _2\"></span>g<span class=\"_ _1\"></span>i\u00e0 <span class=\"_ _3\"></span>anticipato, <span class=\"_ _3\"></span>i <span class=\"_ _2\"></span>test di <span class=\"_ _2\"></span><span class=\"ff7\">imp<span class=\"_ _1\"></span>airment<span class=\"ff2\"> <span class=\"ff5\">non <span class=\"_ _2\"></span>hanno <span class=\"_ _3\"></span>evidenziato<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>perd<span class=\"_ _1\"></span>ite <span class=\"_ _2\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _2\"></span>va<span class=\"_ _1\"></span>lore <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _2\"></span>ecc<span class=\"_ _1\"></span>ezione <span class=\"_ _3\"></span>dell\u2019avviament<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span></span></span></span>riferito <span class=\"_ _8\"></span>alla <span class=\"_ _8\"></span>societ\u00e0 <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>diritto<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>cinese <span class=\"_ _8\"></span>Tailong <span class=\"_ _8\"></span>(Zhuhai) <span class=\"_ _8\"></span>M<span class=\"_ _1\"></span>achinery <span class=\"_ _8\"></span>Manufacturi<span class=\"_ _1\"></span>ng <span class=\"_ _8\"></span>Equipment <span class=\"_ _8\"></span>Ltd: <span class=\"_ _11\"></span>la <span class=\"_ _1\"></span>val<span class=\"_ _1\"></span>utazione<span class=\"_ _26a\"> </span>della <span class=\"_ _2\"></span>recuperabi<span class=\"_ _1\"></span>lit\u00e0 <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>ta<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>av<span class=\"_ _1\"></span>viamento <span class=\"_ _3\"></span>ha <span class=\"_ _2\"></span>evidenzi<span class=\"_ _1\"></span>ato <span class=\"_ _2\"></span>una <span class=\"_ _3\"></span>perdita <span class=\"_ _2\"></span>durevo<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _2\"></span>ta<span class=\"_ _1\"></span>le <span class=\"_ _2\"></span>da <span class=\"_ _2\"></span>ren<span class=\"_ _1\"></span>dere <span class=\"_ _2\"></span>necess<span class=\"_ _1\"></span>aria<span class=\"_ _26a\"> </span>una svalutazione total<span class=\"_ _1\"></span>e dello stesso pari a 2<span class=\"_ _1\"></span>.957 miglia<span class=\"_ _1\"></span>ia di Euro. <span class=\"_ _1\"></span> La societ\u00e0 era stata ac<span class=\"_ _1\"></span>quisita nel 2008 da<span class=\"_ _1\"></span>lla Societ\u00e0 controllante <span class=\"_ _1\"></span>YAMA S.p.A. ed \u00e8 att<span class=\"_ _1\"></span>iva nella produzione<span class=\"_ _1\"></span> di<span class=\"_ _26a\"> </span>cilindri nichelati per motori<span class=\"_ _1\"></span> a scoppio, co<span class=\"_ _1\"></span>mponente utili<span class=\"_ _1\"></span>zzato per i prodott<span class=\"_ _1\"></span>i del Gruppo. <span class=\"_ _8\"></span> L\u2019<span class=\"ff7 ls1\">impairment<span class=\"ff2\"> test \u00e8 stato elaborato applicando<span class=\"_ _1\"></span> un WACC pari al 10,7% e un tasso di crescita di lungo periodo<span class=\"_ _26a\"> </span></span></span>\u201c<span class=\"ff7\">g</span>\u201d <span class=\"_ _11\"></span>pari <span class=\"_ _11\"></span>al <span class=\"_ _11\"></span>2% <span class=\"_ _11\"></span>dal <span class=\"_ _11\"></span>quale <span class=\"_ _20\"></span>\u00e8 <span class=\"_ _11\"></span>emerso <span class=\"_ _11\"></span>che <span class=\"_ _11\"></span>i <span class=\"_ _11\"></span>flussi <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>c<span class=\"_ _1\"></span>assa <span class=\"_ _11\"></span>futuri <span class=\"_ _11\"></span>attualizzat<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>non <span class=\"_ _11\"></span>permetteva<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>di <span class=\"_ _11\"></span>recuperare <span class=\"_ _11\"></span>il<span class=\"_ _26a\"> </span>valore <span class=\"_ _3\"></span>del Goodwill <span class=\"_ _2\"></span>isc<span class=\"_ _1\"></span>ritto. <span class=\"_ _3\"></span>Il <span class=\"_ _3\"></span>piano <span class=\"_ _3\"></span>economico della <span class=\"_ _2\"></span>so<span class=\"_ _1\"></span>ciet\u00e0, <span class=\"_ _3\"></span>nonostante confermi <span class=\"_ _3\"></span>risulta<span class=\"_ _1\"></span>ti positivi, <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>isente <span class=\"_ _3\"></span>delle<span class=\"_ _1\"></span> scelte <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>trategiche <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>Gruppo <span class=\"_ _20\"></span>orientate <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>maggiori <span class=\"_ _20\"></span>inv<span class=\"_ _1\"></span>estimenti <span class=\"_ _20\"></span>in <span class=\"_ _11\"></span>prod<span class=\"_ _1\"></span>otti <span class=\"_ _20\"></span>a <span class=\"_ _11\"></span>ba<span class=\"_ _1\"></span>tteria <span class=\"_ _20\"></span>con <span class=\"_ _20\"></span>minore <span class=\"_ _20\"></span>utilizzo <span class=\"_ _20\"></span>di<span class=\"_ _26a\"> </span>motori a scoppio.<span class=\"_ _1\"></span> Tale <span class=\"_ _26\"> </span>avviamen<span class=\"_ _1\"></span>to <span class=\"_ _26\"> </span>\u00e8 <span class=\"_ _26\"> </span>s<span class=\"_ _1\"></span>tato <span class=\"_ _27\"> </span>quindi <span class=\"_ _26\"> </span>sv<span class=\"_ _1\"></span>alutato <span class=\"_ _27\"> </span>iscrivendo <span class=\"_ _26\"> </span>u<span class=\"_ _1\"></span>na <span class=\"_ _26\"> </span>perdita<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>di <span class=\"_ _26\"> </span>va<span class=\"_ _1\"></span>lore <span class=\"_ _27\"> </span>alla <span class=\"_ _26\"> </span>voce <span class=\"_ _27\"> </span>\u201cSvalutazioni<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>ed<span class=\"_ _26a\"> </span>Ammortamenti\u201d del C<span class=\"_ _1\"></span>onto Economico (s<span class=\"_ _1\"></span>i veda nota 1<span class=\"_ _1\"></span>4).<span class=\"_ _1\"></span><span class=\"ff2\"> </span>Inoltre, <span class=\"_ _11\"></span>a<span class=\"_ _1\"></span>nche <span class=\"_ _20\"></span>sulla <span class=\"_ _20\"> </span>base <span class=\"_ _20\"> </span>delle <span class=\"_ _20\"> </span>ind<span class=\"_ _1\"></span>icazioni <span class=\"_ _20\"></span>contenute <span class=\"_ _20\"> </span>nel <span class=\"_ _20\"> </span>documen<span class=\"_ _1\"></span>to <span class=\"_ _11\"></span>co<span class=\"_ _1\"></span>ngiunto <span class=\"_ _20\"> </span>di <span class=\"_ _20\"> </span>Banca <span class=\"_ _20\"></span>d\u2019Italia, <span class=\"_ _20\"> </span>Conso<span class=\"_ _1\"></span>b <span class=\"_ _20\"></span>e<span class=\"_ _26a\"> </span>Isvap n. 4 del 3 marzo 2010, il Gruppo ha provveduto ad elaborare l\u2019<span class=\"_ _1\"></span>analisi di sensitivit\u00e0 sui r<span class=\"_ _8\"></span><span class=\"ff2\">isultati del test di<span class=\"_ _26a\"> </span></span>impairment<span class=\"ff2\"> <span class=\"_ _1\"></span><span class=\"ff5\">rispetto <span class=\"_ _1\"></span>alle <span class=\"_ _1\"></span>variazioni <span class=\"_ _1\"></span>degli as<span class=\"_ _1\"></span>sunti <span class=\"_ _1\"></span>base c<span class=\"_ _1\"></span>he condiz<span class=\"_ _1\"></span>ionano il <span class=\"_ _1\"></span>valore <span class=\"_ _1\"></span>d\u2019uso: <span class=\"_ _1\"></span>variazio<span class=\"_ _1\"></span>ne positiva <span class=\"_ _1\"></span>del<span class=\"_ _26a\"> </span></span></span>5% <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span><span class=\"ff7\">WA<span class=\"_ _1\"></span>CC</span> <span class=\"_ _8\"></span><span class=\"ff5\">o <span class=\"_ _8\"></span>negat<span class=\"_ _1\"></span>iva <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>mezzo <span class=\"_ _8\"></span>p<span class=\"_ _1\"></span>unto <span class=\"_ _8\"></span>percentua<span class=\"_ _1\"></span>le <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>tass<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>crescita <span class=\"_ _8\"></span>\u201cg\u201d <span class=\"_ _11\"></span>e <span class=\"_ _8\"></span>del <span class=\"_ _8\"></span>5% <span class=\"_ _8\"></span>dei <span class=\"_ _8\"></span>fluss<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>cass<span class=\"_ _1\"></span>a.<span class=\"_ _26a\"> </span></span>Tali <span class=\"_ _8\"></span>analisi <span class=\"_ _8\"></span>non<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>hanno<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>evidenziano <span class=\"_ _11\"></span>perdite <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>valore <span class=\"_ _8\"></span>a<span class=\"_ _1\"></span>d <span class=\"_ _8\"></span>eccezione <span class=\"_ _11\"></span>delle <span class=\"_ _1\"></span>CG<span class=\"_ _1\"></span>U <span class=\"_ _8\"></span>relative <span class=\"_ _11\"></span>alla <span class=\"_ _1\"></span>soc<span class=\"_ _1\"></span>iet\u00e0 <span class=\"_ _8\"></span>Comet<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>do<span class=\"_ _26a\"> </span>Brasil <span class=\"_ _8\"></span>e <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>Grup<span class=\"_ _1\"></span>po <span class=\"_ _8\"></span>Lavorw<span class=\"_ _1\"></span>ash <span class=\"_ _11\"></span>per <span class=\"_ _8\"></span>cui <span class=\"_ _11\"></span>una <span class=\"_ _8\"></span>var<span class=\"_ _1\"></span>iazione <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>gli <span class=\"_ _8\"></span>assun<span class=\"_ _1\"></span>ti <span class=\"_ _8\"></span>base<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>com<span class=\"_ _1\"></span>porrebbe <span class=\"_ _11\"></span>una <span class=\"_ _8\"></span>perd<span class=\"_ _1\"></span>ita <span class=\"_ _8\"></span>di <span class=\"_ _11\"></span>valore<span class=\"_ _26a\"> </span>parziale.<span class=\"_ _26a\"> </span>La Direzi<span class=\"_ _1\"></span>one <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>Societ\u00e0 <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>ritenuto <span class=\"_ _1\"></span>opportuno <span class=\"_ _8\"></span>verific<span class=\"_ _1\"></span>are la <span class=\"_ _1\"></span>recuperabi<span class=\"_ _1\"></span>lit\u00e0 de<span class=\"_ _1\"></span>l c<span class=\"_ _1\"></span>apitale invest<span class=\"_ _1\"></span>ito n<span class=\"_ _1\"></span>etto rif<span class=\"_ _1\"></span>erito<span class=\"_ _26a\"> </span>alla <span class=\"_ _1\"></span>CGU <span class=\"_ _8\"></span>Emak <span class=\"_ _8\"></span>S.p.A. <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>fr<span class=\"_ _1\"></span>onte <span class=\"_ _1\"></span>degl<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>indica<span class=\"_ _1\"></span>tori <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>perdita <span class=\"_ _8\"></span>di <span class=\"_ _1\"></span>v<span class=\"_ _1\"></span>alore <span class=\"_ _1\"></span>rilevat<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>corso <span class=\"_ _8\"></span>d\u2019esercizio, <span class=\"_ _8\"></span>riconducibili <span class=\"_ _8\"></span>al<span class=\"_ _26a\"> </span>conseguimento <span class=\"_ _23\"> </span>per <span class=\"_ _23\"> </span>il <span class=\"_ _23\"></span>secondo <span class=\"_ _23\"> </span>anno <span class=\"_ _23\"></span>consecutivo<span class=\"_ _1\"></span> <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _23\"></span>risultato <span class=\"_ _23\"></span>operativo <span class=\"_ _23\"></span>d<span class=\"_ _8\"></span>i <span class=\"_ _23\"></span>periodo <span class=\"_ _23\"></span>negativo. <span class=\"_ _23\"> </span>Anche <span class=\"_ _23\"></span>tale<span class=\"_ _26a\"> </span>verifica \u00e8 effettuata attraver<span class=\"_ _1\"></span>so la determinazione del va<span class=\"_ _1\"></span>lore recuperabile della <span class=\"_ _1\"></span><span class=\"ff7\">C<span class=\"_ _1\"></span>ash Generating Unit<span class=\"_ _1\"></span></span> (CGU) di<span class=\"_ _26a\"> </span>riferimento, tramite il metodo del \u201c<span class=\"ff7\">Discounted cash flow<span class=\"_ _1\"></span></span>\u201d: la metodologia per la <span class=\"_ _3\"></span>determinaz<span class=\"_ _1\"></span>ione del <span class=\"ff7\">discounted<span class=\"_ _26a\"> </span></span>cash <span class=\"_ _3\"></span>flow<span class=\"ff2\"> <span class=\"_ _3\"></span>sono <span class=\"_ _3\"></span>le medesime <span class=\"_ _3\"></span>descritte <span class=\"_ _3\"></span>in <span class=\"_ _3\"></span>precedenz<span class=\"_ _1\"></span>a. <span class=\"_ _2\"></span>P<span class=\"_ _1\"></span>ertanto, <span class=\"_ _3\"></span>si <span class=\"_ _3\"></span>sono <span class=\"_ _3\"></span>consid<span class=\"_ _1\"></span>erati <span class=\"_ _3\"></span>i <span class=\"_ _3\"></span>dati <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>piano quinquennale<span class=\"_ _26a\"> </span></span>della <span class=\"_ _1\"></span>CGU <span class=\"_ _8\"></span>Emak <span class=\"_ _8\"></span>S.p.A., <span class=\"_ _1\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>rappresenta <span class=\"_ _8\"></span>l\u2019insieme <span class=\"_ _8\"></span>pi\u00f9 <span class=\"_ _1\"></span>piccol<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>per <span class=\"_ _8\"></span>la <span class=\"_ _1\"></span>gener<span class=\"_ _1\"></span>azione <span class=\"_ _1\"></span>di <span class=\"_ _8\"></span>flussi <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>cassa <span class=\"_ _1\"></span>sec<span class=\"_ _1\"></span>ondo<span class=\"_ _26a\"> </span>le prassi di monitoraggio utilizzate dal management<span class=\"_ _1\"></span> per finalit\u00e0 gestionali interne; il tasso <span class=\"_ _3\"></span>WACC utilizzato per<span class=\"_ _26a\"> </span>attualizzare <span class=\"_ _11\"></span>i <span class=\"_ _8\"></span>flussi <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>cassa <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>pari <span class=\"_ _11\"></span>al <span class=\"_ _8\"></span>9,5%; <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>valore <span class=\"_ _11\"></span>terminale <span class=\"_ _11\"></span>\u00e8 <span class=\"_ _8\"></span>stato<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>determ<span class=\"_ _1\"></span>inato <span class=\"_ _8\"></span>sulla<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>base <span class=\"_ _11\"></span>di <span class=\"_ _8\"></span>un <span class=\"_ _11\"></span>tasso <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>crescita di l<span class=\"_ _3\"></span>ungo periodo (g) del 2%, <span class=\"_ _3\"></span>pari all\u2019inflazione a lungo term<span class=\"ff2\">ine del paese (fonte <span class=\"_ _3\"></span><span class=\"ff7\">Internatio<span class=\"_ _1\"></span>nal Monetary<span class=\"_ _26a\"> </span></span></span>Fund<span class=\"ff5\">). <span class=\"_ _11\"></span>Il <span class=\"_ _20\"></span>test <span class=\"_ _11\"></span>n<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span>ha <span class=\"_ _20\"></span>evidenziato <span class=\"_ _20\"></span>perdite <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>valore.<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>L\u2019<span class=\"_ _1\"></span>analisi <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _11\"></span>sensitivit\u00e0 <span class=\"_ _20\"></span>sui <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>isultati <span class=\"_ _11\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _11\"></span>test <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>imp<span class=\"_ _1\"></span>airment<span class=\"_ _26a\"> </span></span>rispetto <span class=\"_ _20\"></span>ad <span class=\"_ _11\"></span>una <span class=\"_ _20\"></span>vari<span class=\"_ _1\"></span>azione <span class=\"_ _20\"></span>positiva <span class=\"_ _20\"></span>del <span class=\"_ _11\"></span>5% <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>WACC<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>o <span class=\"_ _11\"></span>neg<span class=\"_ _1\"></span>ativa <span class=\"_ _20\"></span>di <span class=\"_ _11\"></span>mez<span class=\"_ _1\"></span>zo <span class=\"_ _11\"></span>pu<span class=\"_ _1\"></span>nto <span class=\"_ _20\"></span>percentuale <span class=\"_ _20\"></span>del <span class=\"_ _20\"></span>tas<span class=\"_ _8\"></span>so <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span>crescita \u201cg\u201d e del 5% de<span class=\"_ _1\"></span>i flussi di cassa n<span class=\"_ _1\"></span>on ha evidenziato perd<span class=\"_ _1\"></span>ite di valore.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Infine <span class=\"_ _26\"> </span>gli <span class=\"_ _26\"> </span>Ammin<span class=\"_ _1\"></span>istratori, <span class=\"_ _27\"> </span>constatando <span class=\"_ _26\"> </span>che <span class=\"_ _27\"> </span>il <span class=\"_ _26\"> </span>Patrim<span class=\"_ _1\"></span>onio <span class=\"_ _26\"> </span>Netto <span class=\"_ _26\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _26\"> </span>Gruppo <span class=\"_ _26\"> </span>Emak<span class=\"_ _1\"></span> <span class=\"_ _26\"> </span>risulta <span class=\"_ _26\"> </span>super<span class=\"_ _1\"></span>iore <span class=\"_ _26\"> </span>alla<span class=\"_ _26a\"> </span>capitalizzazione di <span class=\"_ _2\"></span>mercato del <span class=\"_ _2\"></span>titolo al <span class=\"_ _2\"></span>30 di<span class=\"_ _3\"></span>cembre 2022 <span class=\"_ _3\"></span>(pari <span class=\"_ _3\"></span>a 191,8 mil<span class=\"_ _3\"></span>ioni Euro), <span class=\"_ _2\"></span>han<span class=\"_ _1\"></span>no <span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>itenuto <span class=\"_ _3\"></span>opportun<span class=\"_ _1\"></span>o<span class=\"_ _26a\"> </span>effettuare il test d<span class=\"_ _3\"></span>i <span class=\"ff7\">impairme<span class=\"_ _1\"></span>nt</span> <span class=\"ff5\">c.d. di <span class=\"_ _3\"></span>\u201csecondo livello\u201d sulla base del piano economico<span class=\"ff2\">-fin<span class=\"_ _1\"></span>anziario triennale del<span class=\"_ _26a\"> </span></span></span>Gruppo <span class=\"_ _21\"> </span>ap<span class=\"_ _1\"></span>provato <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>al <span class=\"_ _21\"> </span>Co<span class=\"_ _1\"></span>nsiglio <span class=\"_ _21\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _21\"> </span>Ammi<span class=\"_ _1\"></span>nistrazione <span class=\"_ _1e\"> </span>in <span class=\"_ _21\"> </span>data <span class=\"_ _1e\"> </span>27 <span class=\"_ _1e\"> </span>gennaio <span class=\"_ _1e\"> </span>2023. <span class=\"_ _1e\"> </span>L\u2019<span class=\"_ _1\"></span><span class=\"ff7\">i<span class=\"_ _1\"></span>mpairment <span class=\"_ _1e\"> </span>test <span class=\"_ _1e\"> </span><span class=\"ff2\">\u00e8 <span class=\"_ _1e\"> </span>stato<span class=\"_ _26a\"> </span></span></span>elaborato <span class=\"_ _1\"></span>applicando<span class=\"_ _1\"></span> l<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>tess<span class=\"_ _1\"></span>a met<span class=\"_ _1\"></span>odologia <span class=\"_ _1\"></span>illustrata<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>recedentemente,<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>app<span class=\"_ _1\"></span>licando <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>W<span class=\"_ _1\"></span>ACC <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>9,5%<span class=\"_ _1\"></span> e<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>un<span class=\"_ _26a\"> </span>tasso <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>crescita <span class=\"_ _23\"> </span>di <span class=\"_ _21\"> </span>lungo <span class=\"_ _23\"> </span>periodo <span class=\"_ _23\"> </span>\u201cg\u201d <span class=\"_ _23\"> </span>pari <span class=\"_ _23\"> </span>a<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>2%. <span class=\"_ _23\"> </span>Il <span class=\"_ _23\"> </span>test <span class=\"_ _23\"> </span>non <span class=\"_ _21\"> </span>ha <span class=\"_ _23\"> </span>evidenziato <span class=\"_ _23\"> </span>pe<span class=\"_ _1\"></span>rdite <span class=\"_ _23\"> </span>di <span class=\"_ _23\"> </span>valore. <span class=\"_ _23\"> </span>L\u2019ana<span class=\"_ _1\"></span>lisi <span class=\"_ _23\"> </span>di<span class=\"_ _26a\"> </span>sensitivit\u00e0 <span class=\"_ _1\"></span>sui <span class=\"_ _1\"></span>risultati <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>l te<span class=\"_ _1\"></span>st di <span class=\"_ _1\"></span>im<span class=\"_ _1\"></span>pairment <span class=\"_ _1\"></span>rispetto <span class=\"_ _1\"></span>ad<span class=\"_ _1\"></span> una<span class=\"_ _1\"></span> v<span class=\"_ _1\"></span>ariazione <span class=\"_ _1\"></span>positiva <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>5% d<span class=\"_ _1\"></span>el <span class=\"_ _1\"></span>WACC <span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>neg<span class=\"_ _1\"></span>ativa<span class=\"_ _26a\"> </span>d<span class=\"ff5\">i mezzo punto perc<span class=\"_ _1\"></span>entuale del tasso di cresc<span class=\"_ _1\"></span>ita \u201cg\u201d e del 5% d<span class=\"_ _1\"></span>ei flussi di cassa non h<span class=\"_ _1\"></span>a evidenziato perd<span class=\"_ _1\"></span>ite di<span class=\"_ _26a\"> </span></span>valore.<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-395": {
   "value": "Impairment test Il Gruppo verifica la recuperabilit\u00e0 dell\u2019avviamento almeno una volta l\u2019anno o pi\u00f9 frequentemente se vi sono indicatori di perdita di valore. Tale verifica \u00e8 effettuata attraverso la determinazione del valore recuperabile della Cash Generating Unit (CGU) di riferimento, tramite il metodo del \u201cDiscounted cash flow\u201d.  I piani, le metodologie e i risultati dell\u2019 \u201cimpairment test\u201d come sopra illustrati sono stati approvati dal Consiglio di Amministrazione in data 28 febbraio 2023, con il parere del Comitato Controllo Rischi e Sostenibilit\u00e0. I piani pluriennali sono inoltre stati oggetto di approvazione da parte dei rispettivi Consigli di Amministrazione delle sub-holding a cui appartiene ogni CGU. I fattori che hanno maggiore rilevanza nelle stime dei flussi di cassa futuri sono riconducibili alla difficolt\u00e0 intrinseca della formulazione di previsioni future, alla realizzabilit\u00e0 di strategie di mercato in contesti altamente competitivi, nonch\u00e9 ai rischi di natura macroeconomica e geo-politica connessi alle aree geografiche in cui opera il Gruppo Emak. Il Management ha tenuto conto nelle proprie strategie di business dei rischi e delle opportunit\u00e0 di transizione climate-related  che  maggiormente  potrebbero  influenzare  i  flussi  di  cassa  futuri  declinandoli  sui  seguenti aspetti principali: -  Evoluzione normativa dei prodotti; -  Evoluzione delle preferenze dei consumatori; -  Supply-chain dei fattori energetici. Il tasso di sconto utilizzato per attualizzare i flussi di cassa futuri attesi \u00e8 stato determinato per singola CGU. Tale tasso (WACC) riflette la valutazione corrente di mercato del valore temporale del denaro per il periodo considerato e i rischi specifici delle societ\u00e0 del Gruppo Emak e dei settori di riferimento. Al fine di effettuare il test di impairment sulla recuperabilit\u00e0 dei valori di avviamento, il discounted cash flow \u00e8 stato calcolato sulla base delle seguenti ipotesi: -  i flussi  di  cassa  sono  quelli desunti  dai  piani  triennali  o  quinquennali  delle  societ\u00e0,  approvati  dal Consiglio di Amministrazione, che rappresentano la miglior stima del Management relativamente alle performance operative future delle singole entit\u00e0 nel periodo considerato;  -  tali flussi sono riferiti alle unit\u00e0 di riferimento nelle condizioni attuali ed escludono eventuali operazioni di natura non ordinaria e/o operazioni non ancora definite alla data di chiusura dell\u2019esercizio;  -  i flussi di cassa futuri attesi sono stati stimati nelle singole valute in cui gli stessi saranno generati;  -  i flussi di cassa futuri attesi sono riferiti ad un periodo di 3/5 anni e includono un valore terminale normalizzato  impiegato  per  esprimere  una  stima  sintetica  dei  risultati  futuri  oltre  l\u2019arco  temporale esplicitamente considerato; -  i  WACC  utilizzati  per  l\u2019attualizzazione  dei  flussi  di  cassa  futuri  sono  determinati  sulla  base  delle seguenti assunzioni: \u2022  il costo del debito riflette un costo del debito a valori di mercato, determinato come somma del tasso IRS/SWAP dell\u2019area di riferimento con scadenza 10 anni con rendimento medio dei 6 mesi precedenti al 31 dicembre 2022 a cui \u00e8 aggiunto uno spread determinato sulla base del costo di indebitamento effettivo relativo ai finanziamenti correnti del Gruppo; \u2022  il costo del capitale proprio riflette il rendimento dei titoli stato a 10 anni (risk free) medio dei 6 mesi precedenti  al 31  dicembre  2022  aumentato di  un  premio per  il  rischio di  mercato  e ponderato per un beta levered specifico di settore, considerando altres\u00ec un execution risk pari all\u20191% al fine di tenere prudenzialmente in considerazione i possibili scostamenti tra risultati consuntivi e dati previsionali nonch\u00e9 un size risk premium per riflettere la rischiosit\u00e0 derivanti dalle dimensioni del Gruppo rispetto ai player di mercato. -  I WACC cos\u00ec determinati sono pari a 9,5% per le CGU localizzate in Italia, 8,4% per quelle localizzate in Francia e 9,2% in Spagna. Per le CGU localizzata in Polonia \u00e8 pari al 11,5%, per la CGU localizzata in Svezia \u00e8 pari al 8%, per la CGU localizzata in Cina \u00e8 pari al 10,7%, per la CGU localizzata in Messico \u00e8 pari al 12,4%, per la CGU localizzata in USA \u00e8 pari al 8,8%, mentre per le CGU localizzate in Brasile \u00e8 stato utilizzato un WACC pari al 15,1%; -  il valore  terminale  \u00e8 stato  determinato  sulla  base  di  un  tasso  di  crescita  di lungo  periodo  \u201cg\u201d  pari all\u2019inflazione a lungo termine del paese (fonte International Monetary Fund); tale tasso va da un minimo di 1,8% ad un massimo di 3,3% ; -  per la determinazione del flusso di cassa operativo basato sull\u2019ultimo anno di previsione esplicita si \u00e8 provveduto a riflettere, al fine di proiettare \u201cin perpetuo\u201d una situazione stabile, un bilanciamento tra investimenti ed ammortamenti (nella logica di considerare un livello di investimenti necessario per il mantenimento del business) e variazione di capitale circolante pari a zero. Come gi\u00e0 anticipato, i test di impairment non hanno evidenziato perdite di valore ad eccezione dell\u2019avviamento riferito alla societ\u00e0 di diritto cinese Tailong (Zhuhai) Machinery Manufacturing Equipment Ltd: la valutazione della recuperabilit\u00e0 di tale avviamento ha evidenziato una perdita durevole di valore tale da rendere necessaria una svalutazione totale dello stesso pari a 2.957 migliaia di Euro.  La societ\u00e0 era stata acquisita nel 2008 dalla Societ\u00e0 controllante YAMA S.p.A. ed \u00e8 attiva nella produzione di cilindri nichelati per motori a scoppio, componente utilizzato per i prodotti del Gruppo.  L\u2019impairment test \u00e8 stato elaborato applicando un WACC pari al 10,7% e un tasso di crescita di lungo periodo \u201cg\u201d pari al 2% dal quale \u00e8 emerso che i flussi di cassa futuri attualizzati non permettevano di recuperare il valore del Goodwill iscritto. Il piano economico della societ\u00e0, nonostante confermi risultati positivi, risente delle scelte strategiche del Gruppo orientate a maggiori investimenti in prodotti a batteria con minore utilizzo di motori a scoppio. Tale  avviamento  \u00e8  stato  quindi  svalutato  iscrivendo  una  perdita  di  valore  alla  voce  \u201cSvalutazioni  ed Ammortamenti\u201d del Conto Economico (si veda nota 14). Inoltre, anche sulla  base  delle  indicazioni contenute  nel  documento congiunto  di  Banca d\u2019Italia,  Consob e Isvap n. 4 del 3 marzo 2010, il Gruppo ha provveduto ad elaborare l\u2019analisi di sensitivit\u00e0 sui risultati del test di impairment rispetto alle variazioni degli assunti base che condizionano il valore d\u2019uso: variazione positiva del 5% del WACC o negativa di mezzo punto percentuale del tasso di crescita \u201cg\u201d e del 5% dei flussi di cassa. Tali analisi non hanno evidenziano perdite di valore ad eccezione delle CGU relative alla societ\u00e0 Comet do Brasil e al Gruppo Lavorwash per cui una variazione degli assunti base comporrebbe una perdita di valore parziale. La Direzione della Societ\u00e0 ha ritenuto opportuno verificare la recuperabilit\u00e0 del capitale investito netto riferito alla CGU Emak S.p.A. a fronte degli indicatori di perdita di valore rilevati in corso d\u2019esercizio, riconducibili al conseguimento  per  il secondo  anno consecutivo di un risultato operativo di periodo negativo.  Anche tale verifica \u00e8 effettuata attraverso la determinazione del valore recuperabile della Cash Generating Unit (CGU) di riferimento, tramite il metodo del \u201cDiscounted cash flow\u201d: la metodologia per la determinazione del discounted cash flow sono le medesime descritte in precedenza. Pertanto, si sono considerati i dati di piano quinquennale della CGU Emak S.p.A., che rappresenta l\u2019insieme pi\u00f9 piccolo per la generazione di flussi di cassa secondo le prassi di monitoraggio utilizzate dal management per finalit\u00e0 gestionali interne; il tasso WACC utilizzato per attualizzare i flussi di cassa \u00e8 pari al 9,5%; il valore terminale \u00e8 stato determinato sulla base di un tasso di crescita di lungo periodo (g) del 2%, pari all\u2019inflazione a lungo termine del paese (fonte International Monetary Fund). Il test non ha evidenziato perdite di valore. L\u2019analisi di sensitivit\u00e0 sui risultati del test di impairment rispetto ad una variazione positiva del 5% del WACC o negativa di mezzo punto percentuale del tasso di crescita \u201cg\u201d e del 5% dei flussi di cassa non ha evidenziato perdite di valore. Infine  gli  Amministratori,  constatando  che  il  Patrimonio  Netto  del  Gruppo  Emak  risulta  superiore  alla capitalizzazione di mercato del titolo al 30 dicembre 2022 (pari a 191,8 milioni Euro), hanno ritenuto opportuno effettuare il test di impairment c.d. di \u201csecondo livello\u201d sulla base del piano economico-finanziario triennale del Gruppo  approvato  dal  Consiglio  di  Amministrazione  in  data  27  gennaio  2023.  L\u2019impairment  test  \u00e8  stato elaborato applicando la stessa metodologia illustrata precedentemente, applicando un WACC del 9,5% e un tasso  di  crescita  di  lungo  periodo  \u201cg\u201d  pari  al  2%.  Il  test  non  ha  evidenziato  perdite  di  valore.  L\u2019analisi  di sensitivit\u00e0 sui risultati del test di impairment rispetto ad una variazione positiva del 5% del WACC o negativa di mezzo punto percentuale del tasso di crescita \u201cg\u201d e del 5% dei flussi di cassa non ha evidenziato perdite di valore. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfImpairmentOfAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-396": {
   "value": "22. Partecipazioni La voce \u201cPartecipazioni\u201d ammonta a 8 migliaia di Euro, le stesse non sono soggette a perdite durevoli di  valore; i rischi e i benefici connessi al possesso della partecipazione sono trascurabili. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInAssociatesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-336": {
   "value": "22. Partecipazioni La voce \u201cPartecipazioni\u201d ammonta a 8 migliaia di Euro, le stesse non sono soggette a perdite durevoli di  valore; i rischi e i benefici connessi al possesso della partecipazione sono trascurabili. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethodExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-337": {
   "value": "24. Crediti commerciali e altri crediti Il dettaglio delle voci \u00e8 di seguito esplicitato: Il decremento della voce \u201ccrediti commerciali\u201d \u00e8 riconducibile ai minori volumi di vendita dell\u2019ultimo trimestre dell\u2019esercizio, rispetto al quarto trimestre  2021. Il merito creditizio dei  clienti si conferma su  buoni livelli di affidabilit\u00e0.  La voce \u201cAltri crediti\u201d, per la quota corrente, include: -  un importo di 2.238 migliaia di Euro quali anticipi a fornitori su forniture di beni; -  un importo di 675 migliaia di Euro (334 migliaia di Euro al 31 dicembre dell\u2019esercizio precedente) per crediti  vantati  da  alcune  societ\u00e0  del  Gruppo  nei  confronti  della  societ\u00e0  controllante  Yama  S.p.A. , emergenti dai rapporti che regolano il consolidato fiscale al quale le stesse partecipano. Tutti i crediti non correnti scadono entro 5 anni. Non esistono crediti commerciali scadenti oltre  l\u2019esercizio successivo. La movimentazione del fondo svalutazione crediti \u00e8 la seguente: Il valore contabile della posta in bilancio non differisce dal suo fair value. Per quanto riguarda specificamente il rischio di credito si rimanda a quanto evidenziato alla Nota 4.1.b). Dati in migliaia di Euro 31.12.2022 31.12.2021 Crediti commerciali 118.470 126.369 Fondo svalutazione crediti (5.837) (6.008) Crediti commerciali netti 112.633 120.361 Crediti commerciali verso parti correlate (nota 40) 404 732 Ratei e risconti 2.623 2.270 Altri crediti 4.001 4.621 Totale parte corrente 119.661 127.984 Altri crediti non correnti 60 59 Totale parte non corrente 60 59 Dati in migliaia di Euro 31.12.2022 31.12.2021 Saldo iniziale 6.008 5.974 Variazione area di consolidamento in entrata 2 13 Accantonamenti (nota 13) 1.152 750 Decrementi (1.373)  (756) Differenze di cambio 48 27 Saldo finale 5.837 6.008 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-397": {
   "value": "La voce \u201cAltri crediti\u201d, per la quota corrente, include: -  un importo di 2.238 migliaia di Euro quali anticipi a fornitori su forniture di beni; -  un importo di 675 migliaia di Euro (334 migliaia di Euro al 31 dicembre dell\u2019esercizio precedente) per crediti  vantati  da  alcune  societ\u00e0  del  Gruppo  nei  confronti  della  societ\u00e0  controllante  Yama  S.p.A. emergenti dai rapporti che regolano il consolidato fiscale al quale le stesse partecipano. 38 migliaia di Euro quale quota corrente",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherCurrentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-423": {
   "value": "La voce \u201cAltri crediti\u201d, per la quota corrente, include: -  un importo di 2.238 migliaia di Euro quali anticipi a fornitori su forniture di beni; -  un importo di 675 migliaia di Euro (334 migliaia di Euro al 31 dicembre dell\u2019esercizio precedente) per crediti  vantati  da  alcune  societ\u00e0  del  Gruppo  nei  confronti  della  societ\u00e0  controllante  Yama  S.p.A. emergenti dai rapporti che regolano il consolidato fiscale al quale le stesse partecipano. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-398": {
   "value": "La movimentazione del fondo svalutazione crediti \u00e8 la seguente: Il valore contabile della posta in bilancio non differisce dal suo fair value. Per quanto riguarda specificamente il rischio di credito si rimanda a quanto evidenziato alla Nota 4.1.b). Dati in migliaia di Euro 31.12.2022 31.12.2021 Saldo iniziale 6.008 5.974 Variazione area di consolidamento in entrata 2 13 Accantonamenti (nota 13) 1.152 750 Decrementi (1.373)  (756) Differenze di cambio 48 27 Saldo finale 5.837 6.008 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-338": {
   "value": "25. Rimanenze Le giacenze di magazzino sono cos\u00ec dettagliate: Le rimanenze al 31 dicembre 2022 sono esposte al netto del fondo svalutazione pari a 12.200 migliaia di Eur (11.158 migliaia di Euro al 31 dicembre 2021) destinato ad allineare le voci obsolete ed a lento rigiro al loro presumibile valore di realizzo. Dati in migliaia di Euro 31.12.2022 31.12.2021 Materie prime, sussidiarie e di consumo 76.660 70.283 Prodotti in corso di lavorazione e semilavorati 36.427 34.518 Prodotti finiti e merci 120.883 112.515 Totale 233.970 217.316 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInventoriesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-339": {
   "value": "26. Disponibilit\u00e0 liquide Le disponibilit\u00e0 liquide sono cos\u00ec dettagliate: Ai fini del rendiconto finanziario le disponibilit\u00e0 liquide ed equivalenti di fine esercizio comprendono: Dati in migliaia di Euro 31.12.2022 31.12.2021 Depositi postali e bancari 86.340 79.566 Cassa  137  79 Totale 86.477 79.645 Dati in migliaia di Euro 31.12.2022 31.12.2021 Disponibilit\u00e0 liquide  86.477 79.645 Conti correnti passivi (nota 30) (3.128) (2.816) Totale 83.349 76.829 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-340": {
   "value": "27. Altre attivit\u00e0 finanziarie Le altre attivit\u00e0 finanziarie ammontano a 1.151 migliaia di Euro, quale quota non corrente, e 38 migliaia di Euro quale quota corrente e si riferiscono prevalentemente a: -  un importo di 549 migliaia di Euro relativo a depositi in garanzia, iscritto tra le attivit\u00e0 non correnti;  -  un importo di 470 migliaia di Euro relativo a cauzioni, iscritto tra le attivit\u00e0 non correnti; -  un importo complessivo di 148 migliaia di Euro, di cui 111 migliaia di Euro quale quota non corrente  e 37 migliaia di Euro quale quota corrente, corrispondente al credito vantato nei confronti della societ\u00e0  controllante Yama S.p.A. a titolo di reintegro patrimoniale riconosciuto dalla stessa al Gruppo a fronte  di oneri sostenuti da alcune societ\u00e0 e relativi al periodo in cui Yama S.p.A. esercitava il controllo sulle  stesse.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-400": {
   "value": "Le altre attivit\u00e0 finanziarie ammontano a 1.151 migliaia di Euro, quale quota non corrente",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-424": {
   "value": "28. Patrimonio netto  Capitale sociale  Al  31  dicembre  2022  il  capitale  sociale  interamente  sottoscritto  e  versato,  che  non  ha  subito  variazioni  nell\u2019esercizio  in  esame,  ammonta  a  42.623  migliaia  di Euro  ed  \u00e8 rappresentato  da  n.  163.934.835  azioni  ordinarie del valore nominale di Euro 0,26 cadauna.  Tutte le azioni sono state interamente liberate Azioni proprie  Il valore complessivo delle azioni proprie possedute al 31 dicembre 2022 ammonta a 2.835 migliaia di Euro, mentre ammontava a 2.029 migliaia di Euro al 31 dicembre 2021. Al 31 dicembre 2021, la Societ\u00e0 deteneva in portafoglio numero 397.233 azioni proprie, nel corso dell\u2019ultimo trimestre dell\u2019esercizio 2022 la societ\u00e0 ha acquistato n.  700.000,  pertanto, al 31 dicembre 2022 la societ\u00e0 detiene numero 1.097.233 azioni. Per  ci\u00f2  che  concerne  la vendita  e  l\u2019acquisto  di  azioni proprie effettuati durante il  periodo, si rimanda alla  apposita sezione della relazione sulla gestione. Dividendi  L\u2019assemblea degli Azionisti di Emak S.p.A. del 29 aprile 2022 ha deliberato di destinare l\u2019utile d\u2019esercizio 2021  per 497 migliaia di Euro a riserva legale, per 454 migliaia di Euro a riserva straordinaria e per complessivi  12.266 migliaia di Euro quale dividendo agli azionisti (0,075 Euro per azione) anche tramite utilizzo della  riserva utili a nuovo. Con l\u2019approvazione del presente bilancio si propone la distribuzione di un dividendo complessivo di Euro 0,065  per azione, pari a complessivi 10.584 migliaia di Euro. Riserva da sovrapprezzo azioni Al 31  dicembre  2022  la  riserva sovrapprezzo  azioni  \u00e8  pari  a  41.513  migliaia  di  Euro,  ed  \u00e8  costituita  dai  sovrapprezzi sulle azioni di successiva emissione. La riserva \u00e8 esposta al netto degli oneri pregressi legati all\u2019aumento di capitale pari a 1.598 migliaia di Euro e  depurati del relativo effetto fiscale di 501 migliaia di Euro.  Riserva legale Al 31 dicembre 2022 la riserva legale \u00e8 pari a 4.247 migliaia di Euro (3.750 migliaia di Euro al 31 dicembre  2021).  Riserve di rivalutazione  Al 31 dicembre 2022 la riserva di rivalutazione comprende le riserve derivanti dalle rivalutazioni ex L. 72/83  per 371 migliaia di Euro, ex L. 413/91 per 767 migliaia di Euro e ex DL. 104/2020 per 3.215 migliaia di Euro. Riserva per differenze di conversione  Al  31  dicembre  2022  la  riserva  per  differenza  di  conversione  ammonta  a  2.264  migliaia  di  Euro  ed  \u00e8  interamente  imputabile  alle  differenze  generatesi  dalla  traduzione  dei  bilanci  nella  valuta  funzionale  del  Gruppo.  La  riserva  ha  registrato  un  adeguamento  positivo  di  2.089  migliaia  di  Euro  principalmente  per  effetto  dell\u2019andamento delle valute Dollaro statunitense e Real brasiliano. Riserva IAS 19 Al 31 dicembre 2022 la riserva IAS 19 \u00e8 pari ad un ammontare negativo di 952 migliaia di Euro, relativa alle  differenze attuariali da valutazione dei benefici successivi ai dipendenti. La stessa si \u00e8 movimentata al 31  dicembre 2022 per 535 migliaia di Euro.  Altre riserve  Al 31 dicembre 2022 le altre riserve comprendono: -  la  riserva  straordinaria  pari  a  28.527  migliaia  di  Euro,  comprensiva  di  tutti  gli  accantonamenti  per  destinazione degli utili di esercizi precedenti; -  le riserve in sospensione d'imposta si riferiscono ad accantonamenti fiscali per contributi e liberalit\u00e0 per  129 migliaia di Euro; -  riserve per avanzi da fusione per 3.561 migliaia di Euro; -  riserve da contributi in conto capitale derivanti dalla fusione di Bertolini S.p.A. per 122 migliaia di Euro. Per il dettaglio relativo ai vincoli e alla distribuibilit\u00e0 delle riserve si rimanda allo specifico prospetto illustrato  nelle note al bilancio della Capogruppo Emak S.p.A ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-401": {
   "value": "28. Patrimonio netto  Capitale sociale  Al  31  dicembre  2022  il  capitale  sociale  interamente  sottoscritto  e  versato,  che  non  ha  subito  variazioni  nell\u2019esercizio  in  esame,  ammonta  a  42.623  migliaia  di Euro  ed  \u00e8 rappresentato  da  n.  163.934.835  azioni  ordinarie del valore nominale di Euro 0,26 cadauna.  Tutte le azioni sono state interamente liberate . Azioni proprie  Il valore complessivo delle azioni proprie possedute al 31 dicembre 2022 ammonta a 2.835 migliaia di Euro, mentre ammontava a 2.029 migliaia di Euro al 31 dicembre 2021. Al 31 dicembre 2021, la Societ\u00e0 deteneva in portafoglio numero 397.233 azioni proprie, nel corso dell\u2019ultimo trimestre dell\u2019esercizio 2022 la societ\u00e0 ha acquistato n.  700.000,  pertanto, al 31 dicembre 2022 la societ\u00e0 detiene numero 1.097.233 azioni. Per  ci\u00f2  che  concerne  la vendita  e  l\u2019acquisto  di  azioni proprie effettuati durante il  periodo, si rimanda alla  apposita sezione della relazione sulla gestione. Dividendi  L\u2019assemblea degli Azionisti di Emak S.p.A. del 29 aprile 2022 ha deliberato di destinare l\u2019utile d\u2019esercizio 2021  per 497 migliaia di Euro a riserva legale, per 454 migliaia di Euro a riserva straordinaria e per complessivi  12.266 migliaia di Euro quale dividendo agli azionisti (0,075 Euro per azione) anche tramite utilizzo della  riserva utili a nuovo. Con l\u2019approvazione del presente bilancio si propone la distribuzione di un dividendo complessivo di Euro 0,065  per azione, pari a complessivi 10.584 migliaia di Euro. Riserva da sovrapprezzo azioni Al 31  dicembre  2022  la  riserva sovrapprezzo  azioni  \u00e8  pari  a  41.513  migliaia  di  Euro,  ed  \u00e8  costituita  dai  sovrapprezzi sulle azioni di successiva emissione. La riserva \u00e8 esposta al netto degli oneri pregressi legati all\u2019aumento di capitale pari a 1.598 migliaia di Euro e  depurati del relativo effetto fiscale di 501 migliaia di Euro.  Riserva legale Al 31 dicembre 2022 la riserva legale \u00e8 pari a 4.247 migliaia di Euro (3.750 migliaia di Euro al 31 dicembre  2021).  Riserve di rivalutazione  Al 31 dicembre 2022 la riserva di rivalutazione comprende le riserve derivanti dalle rivalutazioni ex L. 72/83  per 371 migliaia di Euro, ex L. 413/91 per 767 migliaia di Euro e ex DL. 104/2020 per 3.215 migliaia di Euro. Riserva per differenze di conversione  Al  31  dicembre  2022  la  riserva  per  differenza  di  conversione  ammonta  a  2.264  migliaia  di  Euro  ed  \u00e8  interamente  imputabile  alle  differenze  generatesi  dalla  traduzione  dei  bilanci  nella  valuta  funzionale  del  Gruppo.  La  riserva  ha  registrato  un  adeguamento  positivo  di  2.089  migliaia  di  Euro  principalmente  per  effetto  dell\u2019andamento delle valute Dollaro statunitense e Real brasiliano. Riserva IAS 19 Al 31 dicembre 2022 la riserva IAS 19 \u00e8 pari ad un ammontare negativo di 952 migliaia di Euro, relativa alle  differenze attuariali da valutazione dei benefici successivi ai dipendenti. La stessa si \u00e8 movimentata al 31  dicembre 2022 per 535 migliaia di Euro.  Altre riserve  Al 31 dicembre 2022 le altre riserve comprendono: -  la  riserva  straordinaria  pari  a  28.527  migliaia  di  Euro,  comprensiva  di  tutti  gli  accantonamenti  per  destinazione degli utili di esercizi precedenti; -  le riserve in sospensione d'imposta si riferiscono ad accantonamenti fiscali per contributi e liberalit\u00e0 per  129 migliaia di Euro; -  riserve per avanzi da fusione per 3.561 migliaia di Euro; -  riserve da contributi in conto capitale derivanti dalla fusione di Bertolini S.p.A. per 122 migliaia di Euro. Per il dettaglio relativo ai vincoli e alla distribuibilit\u00e0 delle riserve si rimanda allo specifico prospetto illustrato  nelle note al bilancio della Capogruppo Emak S.p.A .  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReservesAndOtherEquityInterestExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-341": {
   "value": "28. Patrimonio netto Capitale sociale  Al  31  dicembre  2022  il  capitale  sociale  interamente  sottoscritto  e  versato,  che  non  ha  subito  variazioni nell\u2019esercizio  in  esame,  ammonta  a  42.623  migliaia  di Euro  ed  \u00e8 rappresentato  da  n.  163.934.835  azioni ordinarie del valore nominale di Euro 0,26 cadauna.  Tutte le azioni sono state interamente liberate . Azioni proprie  Il valore complessivo delle azioni proprie possedute al 31 dicembre 2022 ammonta a 2.835 migliaia di Euro, mentre ammontava a 2.029 migliaia di Euro al 31 dicembre 2021. Al 31 dicembre 2021, la Societ\u00e0 deteneva in portafoglio numero 397.233 azioni proprie, nel corso dell\u2019ultimo trimestre dell\u2019esercizio 2022 la societ\u00e0 ha acquistato n.  700.000,  pertanto, al 31 dicembre 2022 la societ\u00e0 detiene numero 1.097.233 azioni. Per  ci\u00f2  che  concerne  la vendita  e  l\u2019acquisto  di  azioni proprie effettuati durante il  periodo, si rimanda alla  apposita sezione della relazione sulla gestione. Dividendi  L\u2019assemblea degli Azionisti di Emak S.p.A. del 29 aprile 2022 ha deliberato di destinare l\u2019utile d\u2019esercizio 2021  per 497 migliaia di Euro a riserva legale, per 454 migliaia di Euro a riserva straordinaria e per complessivi  12.266 migliaia di Euro quale dividendo agli azionisti (0,075 Euro per azione) anche tramite utilizzo della  riserva utili a nuovo. Con l\u2019approvazione del presente bilancio si propone la distribuzione di un dividendo complessivo di Euro 0,065  per azione, pari a complessivi 10.584 migliaia di Euro. Riserva da sovrapprezzo azioni Al 31  dicembre  2022  la  riserva sovrapprezzo  azioni  \u00e8  pari  a  41.513  migliaia  di  Euro,  ed  \u00e8  costituita  dai  sovrapprezzi sulle azioni di successiva emissione. La riserva \u00e8 esposta al netto degli oneri pregressi legati all\u2019aumento di capitale pari a 1.598 migliaia di Euro e  depurati del relativo effetto fiscale di 501 migliaia di Euro.  Riserva legale Al 31 dicembre 2022 la riserva legale \u00e8 pari a 4.247 migliaia di Euro (3.750 migliaia di Euro al 31 dicembre  2021).  Riserve di rivalutazione  Al 31 dicembre 2022 la riserva di rivalutazione comprende le riserve derivanti dalle rivalutazioni ex L. 72/83  per 371 migliaia di Euro, ex L. 413/91 per 767 migliaia di Euro e ex DL. 104/2020 per 3.215 migliaia di Euro. Riserva per differenze di conversione  Al  31  dicembre  2022  la  riserva  per  differenza  di  conversione  ammonta  a  2.264  migliaia  di  Euro  ed  \u00e8  interamente  imputabile  alle  differenze  generatesi  dalla  traduzione  dei  bilanci  nella  valuta  funzionale  del  Gruppo.  La  riserva  ha  registrato  un  adeguamento  positivo  di  2.089  migliaia  di  Euro  principalmente  per  effetto  dell\u2019andamento delle valute Dollaro statunitense e Real brasiliano. Riserva IAS 19 Al 31 dicembre 2022 la riserva IAS 19 \u00e8 pari ad un ammontare negativo di 952 migliaia di Euro, relativa alle  differenze attuariali da valutazione dei benefici successivi ai dipendenti. La stessa si \u00e8 movimentata al 31  dicembre 2022 per 535 migliaia di Euro.  Altre riserve  Al 31 dicembre 2022 le altre riserve comprendono: -  la  riserva  straordinaria  pari  a  28.527  migliaia  di  Euro,  comprensiva  di  tutti  gli  accantonamenti  per  destinazione degli utili di esercizi precedenti; -  le riserve in sospensione d'imposta si riferiscono ad accantonamenti fiscali per contributi e liberalit\u00e0 per  129 migliaia di Euro; -  riserve per avanzi da fusione per 3.561 migliaia di Euro; -  riserve da contributi in conto capitale derivanti dalla fusione di Bertolini S.p.A. per 122 migliaia di Euro. Per il dettaglio relativo ai vincoli e alla distribuibilit\u00e0 delle riserve si rimanda allo specifico prospetto illustrato  nelle note al bilancio della Capogruppo Emak S.p.A . ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-399": {
   "value": "Dati in migliaia di Euro 31.12.2022 31.12.2021 Depositi postali e bancari 86.340 79.566 Cassa  137  79 Totale 86.477 79.645 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-436": {
   "value": "0.075",
   "decimals": 4,
   "dimensions": {
    "concept": "ifrs-full:DividendsRecognisedAsDistributionsToOwnersPerShare",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "fact-443": {
   "value": "0.065",
   "decimals": 4,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwnersPerShare",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR/xbrli:shares"
   }
  },
  "fact-441": {
   "value": "10584000",
   "decimals": -3,
   "dimensions": {
    "concept": "ifrs-full:DividendsProposedOrDeclaredBeforeFinancialStatementsAuthorisedForIssueButNotRecognisedAsDistributionToOwners",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00",
    "unit": "iso4217:EUR"
   }
  },
  "fact-402": {
   "value": "29. Debiti commerciali e altri debiti Il dettaglio dei debiti commerciali e verso altri \u00e8 cos\u00ec composto: Il valore contabile della posta in bilancio non differisce dal suo fair value. La  voce  \u201cDebiti  commerciali\u201d  include  1.004  migliaia  di  Euro  relativi  al  debito  scadente  nel  2023  per l\u2019acquisizione da parte di Speed France della tecnologia per la produzione di mono filamenti in poliestere e cavi per applicazioni agricole; la quota non corrente \u00e8 contabilizzata nella voce \u201cAltre passivit\u00e0 a lungo termine\u201d (nota 35). Il decremento  dei  debiti  commerciali \u00e8 riconducibile  ai minori volumi  di acquisto dell\u2019ultima parte dell\u2019anno come meglio commentato in Nota 9. La voce \u201cAltri debiti\u201d include 536 migliaia di Euro, contro 3.561 migliaia di Euro al 31 dicembre 2021, per debiti per imposte correnti IRES contabilizzati da alcune societ\u00e0 del Gruppo verso la societ\u00e0 controllante Yama S.p.A. e derivanti dai rapporti che regolano il consolidato fiscale alle quali le stesse partecipano.  Dati in migliaia di Euro 31.12.2022 31.12.2021 Debiti commerciali 87.163 121.114 Debiti commerciali verso parti correlate (nota 40) 697 951 Debiti verso il personale ed enti previdenziali 13.297 16.750 Acconti da clienti 2.731 2.266 Ratei e risconti 2.228 1.496 Altri debiti 3.228 6.645 Totale parte corrente 109.344 149.222 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-342": {
   "value": "29. Debiti commerciali e altri debiti Il dettaglio dei debiti commerciali e verso altri \u00e8 cos\u00ec composto: Il valore contabile della posta in bilancio non differisce dal suo fair value. La  voce  \u201cDebiti  commerciali\u201d  include  1.004  migliaia  di  Euro  relativi  al  debito  scadente  nel  2023  per l\u2019acquisizione da parte di Speed France della tecnologia per la produzione di mono filamenti in poliestere e cavi per applicazioni agricole; la quota non corrente \u00e8 contabilizzata nella voce \u201cAltre passivit\u00e0 a lungo termine\u201d (nota 35). Il decremento  dei  debiti  commerciali \u00e8 riconducibile  ai minori volumi  di acquisto dell\u2019ultima parte dell\u2019anno come meglio commentato in Nota 9. La voce \u201cAltri debiti\u201d include 536 migliaia di Euro, contro 3.561 migliaia di Euro al 31 dicembre 2021, per debiti per imposte correnti IRES contabilizzati da alcune societ\u00e0 del Gruppo verso la societ\u00e0 controllante Yama S.p.A. e derivanti dai rapporti che regolano il consolidato fiscale alle quali le stesse partecipano.  Dati in migliaia di Euro 31.12.2022 31.12.2021 Debiti commerciali 87.163 121.114 Debiti commerciali verso parti correlate (nota 40) 697 951 Debiti verso il personale ed enti previdenziali 13.297 16.750 Acconti da clienti 2.731 2.266 Ratei e risconti 2.228 1.496 Altri debiti 3.228 6.645 Totale parte corrente 109.344 149.222 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-343": {
   "value": "30. Passivit\u00e0 finanziarie Il dettaglio dei finanziamenti correnti \u00e8 il seguente: Il valore contabile dei finanziamenti a breve termine approssima il loro valore corrente. Dati in migliaia di Euro 31.12.2022 31.12.2021 Finanziamenti bancari 66.838 63.185 Conti correnti passivi (nota 26) 3.128 2.816 Debiti per acquisto partecipazioni 6.356 3.506 Ratei finanziari 224 62 Altre passivit\u00e0 finanziarie 48 138 Totale corrente 76.594 69.707 Il dettaglio dei finanziamenti non correnti \u00e8 il seguente: Nel corso dell\u2019esercizio 2022 il Gruppo ha ottenuto nuove risorse finanziarie da istituti di credito per  circa 106 milioni di Euro. Dati in migliaia di Euro 31.12.2022 31.12.2021 Finanziamenti bancari 145.545 107.237 Debiti per acquisto partecipazioni 6.801 8.753 Altri finanziamenti   - 4 Totale non corrente 152.346 115.994 I movimenti dei finanziamenti non correnti sono di seguito riportati: Alcuni finanziamenti a medio- lungo termine sono soggetti a Covenants finanziari verificati, prevalentemente, sulla base dei ratios Pfn/Ebitda e Pfn/Equity consolidati. Al 31 dicembre 2022 il Gruppo rispetta tutti i parametri di riferimento previsti da contratto. I finanziamenti a medio e lungo termine sono rimborsabili secondo il seguente piano di rientro: I principiali tassi di interesse applicati sui finanziamenti di breve e di medio lungo termine sono i seguenti:  - sui finanziamenti bancari in Euro si applica l\u2019Euribor pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Sterline britanniche si applica il \u201cbase rate\u201d Bank of England pi\u00f9 uno spread  fisso; - sui finanziamenti bancari in Dollari USA si applica il SOFR pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Reais brasiliani si applica il CDI pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Zloty Polacchi si applica il Wibor pi\u00f9 uno spread fisso. Il valore contabile delle poste in bilancio non differisce dal relativo fair value. Dati in migliaia di Euro 31.12.2021 Incrementi Decrementi Effetto cambio Altri movimenti 31.12.2022 Finanziamenti bancari 107.237 106.009 (68.254) 553 - 145.545 Debiti per acquisti partecipazioni 8.753 1.995  (3.947)  - - 6.801 Altri finanziamenti 4 -  -  -  (4)  - Totale 115.994 108.004  (72.201) 553  (4) 152.346 Dati in migliaia di Euro Esigibili  2\u00b0 anno Esigibili   3\u00b0 anno Esigibili    4\u00b0 anno Esigibili  5\u00b0 anno Totale entro 5 anni Esigibili oltre 5 anni Finanziamenti bancari 54.707 32.126 27.648 12.170 126.651 18.894 Debiti per acquisti partecipazioni 1.600  - 5.201  - 6.801  - Altri finanziamenti -  -  -  -  -  - Totale 56.307 32.126 32.849 12.170 133.452 18.894 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLoansAndAdvancesToBanksExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-403": {
   "value": "30. Passivit\u00e0 finanziari<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>Il dettaglio dei <span class=\"ff4 lsf\">fi<span class=\"ls1\">nanz<span class=\"_ _1\"></span>iamenti corrent<span class=\"_ _1\"></span>i</span></span> \u00e8 il seguente:<span class=\"_ _1\"></span> Il <span class=\"_ _1\"></span>va<span class=\"_ _1\"></span>lor<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tab<span class=\"_ _1\"></span>ile <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>ei <span class=\"_ _1\"></span>fi<span class=\"_ _1\"></span>nan<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>iam<span class=\"_ _1\"></span>ent<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span> br<span class=\"_ _1\"></span>ev<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>ter<span class=\"_ _1\"></span>min<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span> a<span class=\"_ _1\"></span>ppr<span class=\"_ _1\"></span>os<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>ima <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>lor<span class=\"_ _1\"></span>o v<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>e c<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span>.<span class=\"_ _20\"></span> La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>28 <span class=\"_ _21\"> </span>mig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>E<span class=\"_ _1\"></span>uro<span class=\"_ _8\"></span> <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>ife<span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>ebit<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>st<span class=\"_ _1\"></span>imat<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>pe<span class=\"_ _1\"></span>r <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>pr<span class=\"_ _1\"></span>ezz<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>3<span class=\"_ _1\"></span>0% <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>lla <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>et\u00e0<span class=\"_ _1\"></span> </span>Mar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>ate<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _8\"></span><span class=\"ff8 fs41\"> </span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>dal <span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>mag<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>o 2<span class=\"_ _1\"></span>02<span class=\"_ _1\"></span>3.<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>42 <span class=\"_ _20\"></span>mig<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>aia<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>if<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ebi<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>at<span class=\"_ _1\"></span>tua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>mat<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>per<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span></span>4,5% <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>azio<span class=\"_ _1\"></span>ni <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span>Agres <span class=\"_ _1\"></span>Sistemas<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Eletr\u00f4nico<span class=\"_ _1\"></span>s <span class=\"_ _1\"></span>S.A <span class=\"_ _8\"></span><span class=\"ff5\">e <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>ol<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nd<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>C<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span></span><span class=\"ls5d\">\u201d <span class=\"_ _1\"></span></span></span>da <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itarsi <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>1<span class=\"_ _26a\"> </span>gennaio 2023;<span class=\"_ _26a\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>86 mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iai<span class=\"_ _1\"></span>a di<span class=\"_ _1\"></span> Euro<span class=\"_ _1\"></span> rif<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> al deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o ve<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o il so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>o ce<span class=\"_ _1\"></span>den<span class=\"_ _1\"></span>te<span class=\"_ _1\"></span> dell<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>oc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _1\"></span> Val<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span>y Ind<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>ies<span class=\"_ _1\"></span> LLP<span class=\"_ _1\"></span> per<span class=\"_ _1\"></span> </span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l re<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>ant<span class=\"_ _1\"></span>e 10<span class=\"_ _1\"></span>%<span class=\"_ _1\"></span> ogget<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t &amp; Ca<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span> Opti<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span>, di cu<span class=\"_ _1\"></span>i il<span class=\"_ _1\"></span> 4% es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tat<span class=\"_ _1\"></span>o ne<span class=\"_ _1\"></span>l cor<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o del 2<span class=\"_ _1\"></span>022<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Tali debiti sono<span class=\"_ _1\"></span> valorizzati <span class=\"_ _1\"></span>utilizzando i piani<span class=\"_ _1\"></span> delle societ\u00e0 t<span class=\"_ _1\"></span>arget e aggi<span class=\"_ _1\"></span>ornati progr<span class=\"_ _1\"></span>essivamente sulla b<span class=\"_ _1\"></span>ase dei<span class=\"_ _26a\"> </span>parametri <span class=\"_ _1\"></span>economico <span class=\"_ _1\"></span>finanz<span class=\"_ _1\"></span>iari che <span class=\"_ _1\"></span>regolano <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>prezzo <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>quote <span class=\"_ _1\"></span>oggetto <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i Put&amp;<span class=\"_ _1\"></span>Call <span class=\"_ _1\"></span>option. I<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o isc<span class=\"_ _1\"></span>ritto<span class=\"_ _26a\"> </span>rappresenta ad oggi<span class=\"_ _1\"></span> la miglior stima pos<span class=\"_ _1\"></span>sibile.<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> Il dettaglio dei <span class=\"ff4\">fin<span class=\"_ _1\"></span>anziament<span class=\"_ _1\"></span>i non correnti</span> \u00e8 i<span class=\"_ _1\"></span>l seguente:<span class=\"_ _26a\"> </span><span class=\"_ _1\"></span> D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>ti <span class=\"_ _1\"></span>in <span class=\"_ _8\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _3\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>22<span class=\"_ _12f\"> </span>3<span class=\"_ _3\"></span>1.12<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>202<span class=\"_ _2\"></span>1<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>nziamen<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ba<span class=\"_ _2\"></span>nc<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _9b\"> </span>66<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>83<span class=\"_ _3\"></span>8<span class=\"_ _d6\"> </span>63<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>18<span class=\"_ _3\"></span>5<span class=\"_ _26a\"> </span>C<span class=\"_ _3\"></span>on<span class=\"_ _3\"></span>ti<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _2\"></span>re<span class=\"_ _3\"></span>nti <span class=\"_ _1\"></span>pass<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>i <span class=\"_ _1\"></span>(n<span class=\"_ _2\"></span>ota <span class=\"_ _1\"></span>26<span class=\"_ _2\"></span>)<span class=\"_ _26a\"> </span>3.12<span class=\"_ _3\"></span>8<span class=\"_ _c9\"> </span>2.81<span class=\"_ _3\"></span>6<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _3\"></span>it<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>acqu<span class=\"_ _3\"></span>is<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o par<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ipa<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ion<span class=\"_ _3\"></span>i<span class=\"_ _119\"> </span>6.35<span class=\"_ _2\"></span>6<span class=\"_ _7a\"> </span>3.506<span class=\"_ _26a\"> </span>R<span class=\"_ _3\"></span>atei f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziar<span class=\"_ _3\"></span>i<span class=\"_ _1b3\"> </span><span class=\"ls5f\">224<span class=\"_ _19d\"> </span>62<span class=\"_ _26a\"> </span></span>Al<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>r<span class=\"_ _3\"></span>e pa<span class=\"_ _3\"></span>s<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>iv<span class=\"_ _9\"></span>it<span class=\"_ _1\"></span>\u00e0 f<span class=\"_ _3\"></span>ina<span class=\"_ _3\"></span>nziar<span class=\"_ _3\"></span>ie<span class=\"_ _165\"> </span><span class=\"ls5f\">48<span class=\"_ _19d\"> </span>138<span class=\"_ _26a\"> </span></span>Tota<span class=\"_ _1\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>cor<span class=\"_ _3\"></span>re<span class=\"_ _8\"></span>nt<span class=\"_ _3\"></span>e<span class=\"_ _186\"> </span>76.59<span class=\"_ _2\"></span>4<span class=\"_ _f2\"> </span>69<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>70<span class=\"_ _2\"></span>7<span class=\"_ _26a\"> </span>Nel<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>so<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io <span class=\"_ _11\"></span>202<span class=\"_ _1\"></span>2 <span class=\"_ _11\"></span>il <span class=\"_ _8\"></span>G<span class=\"_ _1\"></span>rup<span class=\"_ _1\"></span>po <span class=\"_ _11\"></span>ha <span class=\"_ _11\"></span>ott<span class=\"_ _1\"></span>enu<span class=\"_ _1\"></span>to <span class=\"_ _11\"></span>nuo<span class=\"_ _1\"></span>ve<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>fi<span class=\"_ _1\"></span>nan<span class=\"_ _1\"></span>zia<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>e <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>a <span class=\"_ _11\"></span>isti<span class=\"_ _1\"></span>tut<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>c<span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>edit<span class=\"_ _1\"></span>o <span class=\"_ _11\"></span>per <span class=\"_ _1e\"> </span><span class=\"ff2\">ci<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span></span>106<span class=\"_ _1\"></span> mi<span class=\"_ _1\"></span>lio<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span>i di<span class=\"_ _1\"></span> E<span class=\"_ _1\"></span>ur<span class=\"_ _1\"></span>o.<span class=\"_ _1\"></span> La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>38 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la<span class=\"_ _1\"></span> pa<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>ui<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 19<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>az<span class=\"_ _1\"></span>ioni<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> M<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gola<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> c<span class=\"_ _1\"></span>ont<span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>tto<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> \u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l o<span class=\"_ _1\"></span>pt<span class=\"_ _1\"></span>ion<span class=\"_ _8\"></span></span>\u201d d<span class=\"_ _1\"></span>a e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>are<span class=\"_ _1\"></span> ne<span class=\"_ _1\"></span>l 2<span class=\"_ _1\"></span>026<span class=\"_ _1\"></span>;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.7<span class=\"_ _1\"></span>63 m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> Eur<span class=\"_ _1\"></span>o,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>ela<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>vi a<span class=\"_ _1\"></span>l d<span class=\"_ _1\"></span>eb<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> att<span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>aliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> pe<span class=\"_ _1\"></span>r l<span class=\"_ _1\"></span>a p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>te d<span class=\"_ _1\"></span>i pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _11\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> del<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>4,5% delle<span class=\"_ _26a\"> </span></span>azioni <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Agr<span class=\"_ _1\"></span>es <span class=\"_ _2\"></span>Sistem<span class=\"_ _1\"></span>as <span class=\"_ _2\"></span>Eletr\u00f4nicos<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>S.A <span class=\"ff5\">e <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>da cont<span class=\"_ _1\"></span>rat<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>nd <span class=\"_ _3\"></span>C<span class=\"_ _1\"></span>all<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>op<span class=\"_ _1\"></span>tio<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5 ls5d\">\u201d <span class=\"_ _2\"></span><span class=\"ff2 ls1\">da <span class=\"_ _2\"></span>eserc<span class=\"_ _1\"></span>itars<span class=\"_ _26a\"> </span></span></span></span></span><span class=\"ff5\"><span class=\"ff7\"><span class=\"ff5 ls5d\"><span class=\"ff2 ls1\">i<span class=\"_ _26a\"> </span></span></span></span></span>dal 1 gennaio 2026;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.6<span class=\"_ _1\"></span>00 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la <span class=\"_ _1\"></span>pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>quote di Poli S.r.l. e rego<span class=\"_ _1\"></span>lato da contr<span class=\"_ _1\"></span>atto di \u201c<span class=\"ff7 ls1\">P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Ca<span class=\"_ _1\"></span>ll <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5\">\u201d <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>a il<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>24 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>20<span class=\"_ _1\"></span>26<span class=\"_ _8\"></span><span class=\"ff2\">.<span class=\"_ _1\"></span> </span></span></span>Nel<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>bit<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>pe<span class=\"_ _1\"></span>r <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>olaz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span> <span class=\"_ _20\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>pti<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span><span class=\"ff2\">di<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Mar<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Agr<span class=\"_ _1\"></span>es<span class=\"_ _8\"></span></span> <span class=\"_ _8\"></span><span class=\"ff2\">so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>stat<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span></span>adeguati <span class=\"_ _20\"></span>per<span class=\"ls1\"> <span class=\"_ _20\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _20\"></span>ma<span class=\"_ _1\"></span>gg<span class=\"_ _1\"></span>ior<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>v<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>isp<span class=\"_ _1\"></span>et<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>ame<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>pa<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>1<span class=\"_ _1\"></span>.0<span class=\"_ _1\"></span>22 <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>7<span class=\"_ _1\"></span>97 <span class=\"_ _20\"></span>m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>E<span class=\"_ _1\"></span>uro<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>in <span class=\"_ _23\"></span>cons<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>uen<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span>migl<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>su<span class=\"_ _1\"></span>lta<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>eco<span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>co<span class=\"_ _8\"></span>-<span class=\"_ _1\"></span>fin<span class=\"_ _1\"></span>anz<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ris<span class=\"_ _1\"></span>pe<span class=\"_ _1\"></span>tt<span class=\"_ _1\"></span>o a<span class=\"_ _1\"></span> qu<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>li <span class=\"_ _1\"></span>pia<span class=\"_ _1\"></span>nif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l 3<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>dic<span class=\"_ _1\"></span>em<span class=\"_ _1\"></span>br<span class=\"_ _1\"></span>e d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>lo <span class=\"_ _1\"></span>sc<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>so<span class=\"_ _1\"></span> es<span class=\"_ _1\"></span>erc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>. <span class=\"_ _11\"></span> Ino<span class=\"_ _1\"></span>ltr<span class=\"_ _1\"></span>e la modif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>a dei term<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ni del<span class=\"_ _1\"></span>la Put &amp; Call di<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Ma<span class=\"_ _1\"></span>rk<span class=\"_ _11\"></span><span class=\"ff5\">uss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> ha <span class=\"_ _3\"></span>co<span class=\"_ _1\"></span>mpo<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> l\u2019adeg<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>men<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l relat<span class=\"_ _1\"></span>iv<span class=\"_ _1\"></span>o debi<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> </span>co<span class=\"_ _1\"></span>n la c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>gue<span class=\"_ _1\"></span>nt<span class=\"_ _1\"></span>e is<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>riz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne d<span class=\"_ _1\"></span>i u<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>agg<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>r on<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>e p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>i a 5<span class=\"_ _1\"></span>81<span class=\"_ _1\"></span> mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> (p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> ma<span class=\"_ _1\"></span>ggio<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> de<span class=\"_ _1\"></span>tta<span class=\"_ _1\"></span>g<span class=\"_ _1\"></span>li s<span class=\"_ _1\"></span>i ve<span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>not<span class=\"_ _1\"></span>a 7<span class=\"_ _1\"></span>).<span class=\"_ _1\"></span> I movimenti dei finanzi<span class=\"_ _1\"></span>amenti <span class=\"ff4\">n<span class=\"_ _1\"></span>on corrent<span class=\"_ _1\"></span>i</span> sono di seguito rip<span class=\"_ _1\"></span>ortati:<span class=\"_ _1\"></span> Alcuni fin<span class=\"_ _1\"></span>anziamenti <span class=\"_ _1\"></span>a med<span class=\"_ _1\"></span>io- <span class=\"_ _1\"></span>lungo term<span class=\"_ _1\"></span>ine s<span class=\"_ _1\"></span>ono sog<span class=\"_ _1\"></span>getti a <span class=\"_ _1\"></span><span class=\"ff7\">C<span class=\"_ _1\"></span>ovenants</span> <span class=\"_ _1\"></span>finanziari<span class=\"_ _1\"></span> v<span class=\"_ _1\"></span>erificati, prev<span class=\"_ _1\"></span>alentemente,<span class=\"_ _26a\"> </span>sulla <span class=\"_ _2\"></span>b<span class=\"_ _1\"></span>ase <span class=\"_ _3\"></span>dei <span class=\"_ _3\"></span><span class=\"ff7\">ratios<span class=\"ff2\"> <span class=\"_ _3\"></span><span class=\"ff7\">Pfn/Ebitda<span class=\"ff2\"> <span class=\"ls4\">e <span class=\"_ _2\"></span><span class=\"ff7 ls1\">Pfn/E<span class=\"_ _1\"></span>quity<span class=\"ff2\"> <span class=\"_ _3\"></span>consolidati. Al <span class=\"_ _2\"></span>31 <span class=\"_ _3\"></span>dicembre <span class=\"_ _3\"></span>2022 <span class=\"_ _3\"></span>il <span class=\"_ _3\"></span>Gruppo ri<span class=\"_ _3\"></span>spetta<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>tutti i <span class=\"_ _2\"></span>parametri<span class=\"_ _26a\"> </span></span></span></span></span></span></span></span>di riferimento previsti d<span class=\"_ _1\"></span>a contratto.<span class=\"_ _1\"></span> I <span class=\"ff4 ls1\">finanziamenti a med<span class=\"_ _1\"></span>io e lun<span class=\"_ _1\"></span>go termine<span class=\"ff2\"> s<span class=\"_ _1\"></span>ono rimbors<span class=\"_ _1\"></span>abili secondo il seguente<span class=\"_ _1\"></span> piano di rientro:<span class=\"_ _8\"></span> </span></span>D<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>t<span class=\"_ _3\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>m<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>E<span class=\"_ _2\"></span>uro<span class=\"_ _26a\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>22<span class=\"_ _be\"> </span>31<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>12.20<span class=\"_ _2\"></span>21<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iamen<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>ba<span class=\"_ _2\"></span>nc<span class=\"_ _1\"></span>ar<span class=\"_ _2\"></span>i<span class=\"_ _13\"> </span>1<span class=\"_ _3\"></span>45<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>54<span class=\"_ _3\"></span>5<span class=\"_ _e1\"> </span>1<span class=\"_ _3\"></span>07<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>23<span class=\"_ _2\"></span>7<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>eb<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>i <span class=\"_ _1\"></span>pe<span class=\"_ _2\"></span>r ac<span class=\"_ _1\"></span>qu<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o pa<span class=\"_ _3\"></span>r<span class=\"_ _3\"></span>t<span class=\"_ _1\"></span>ecipa<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>ioni<span class=\"_ _b4\"> </span>6.80<span class=\"_ _3\"></span>1<span class=\"_ _31\"> </span>8.753<span class=\"_ _26a\"> </span>Alt<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>z<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ame<span class=\"_ _3\"></span>nti <span class=\"_ _4d\"> </span><span class=\"ls60\"> -<span class=\"_ _f5\"> </span></span>4<span class=\"_ _26a\"> </span>Tot<span class=\"_ _3\"></span>a<span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> <span class=\"_ _1\"></span>non <span class=\"_ _1\"></span>cor<span class=\"_ _3\"></span>re<span class=\"_ _8\"></span>nt<span class=\"_ _3\"></span>e<span class=\"_ _26a\"> </span>15<span class=\"_ _2\"></span>2.346<span class=\"_ _19c\"> </span>1<span class=\"_ _3\"></span>15<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>99<span class=\"_ _2\"></span>4<span class=\"_ _26a\"> </span>Dati<span class=\"_ _3\"></span> in m<span class=\"_ _3\"></span>ig<span class=\"_ _3\"></span>li<span class=\"_ _3\"></span>aia<span class=\"_ _3\"></span> di Euro<span class=\"_ _26a\"> </span>31.12.2021<span class=\"_ _df\"> </span>Increm<span class=\"_ _2\"></span>enti<span class=\"_ _1be\"> </span>Decrem<span class=\"_ _2\"></span>enti<span class=\"_ _d\"> </span>E<span class=\"_ _3\"></span>ff<span class=\"_ _1\"></span>etto camb<span class=\"_ _3\"></span>io<span class=\"_ _26a\"> </span>A<span class=\"_ _2\"></span>ltri<span class=\"_ _26a\"> </span>m<span class=\"_ _3\"></span>ovi<span class=\"_ _3\"></span>m<span class=\"_ _3\"></span>enti<span class=\"_ _26a\"> </span>31.12.2022<span class=\"_ _26a\"> </span>Fi<span class=\"_ _3\"></span>n<span class=\"_ _3\"></span>an<span class=\"_ _2\"></span>zi<span class=\"_ _3\"></span>am<span class=\"_ _3\"></span>en<span class=\"_ _3\"></span>ti ban<span class=\"_ _2\"></span>cari<span class=\"_ _d7\"> </span>107.237<span class=\"_ _8d\"> </span>106.009<span class=\"_ _16b\"> </span>(68.254)<span class=\"_ _d9\"> </span><span class=\"ls61\">553<span class=\"_ _26a\"> </span></span>-<span class=\"_ _a5\"> </span>145.545<span class=\"_ _26a\"> </span>Deb<span class=\"_ _3\"></span>iti per acqu<span class=\"_ _2\"></span>isti part<span class=\"_ _1\"></span>ecip<span class=\"_ _3\"></span>az<span class=\"_ _3\"></span>ion<span class=\"_ _2\"></span>i<span class=\"_ _83\"> </span>8.753<span class=\"_ _26a\"> </span>1.995<span class=\"_ _6e\"> </span> <span class=\"_ _1\"></span>(3.<span class=\"_ _1\"></span>947)<span class=\"_ _123\"> </span><span class=\"ls62\"> -<span class=\"_ _64\"> </span></span>-<span class=\"_ _d3\"> </span>6.801<span class=\"_ _26a\"> </span>Al<span class=\"_ _3\"></span>tr<span class=\"_ _1\"></span>i fin<span class=\"_ _2\"></span>anz<span class=\"_ _2\"></span>iam<span class=\"_ _2\"></span>en<span class=\"_ _3\"></span>ti<span class=\"_ _1cd\"> </span>4 -<span class=\"_ _f9\"> </span> -<span class=\"_ _82\"> </span> -<span class=\"_ _123\"> </span><span class=\"ls1\"> <span class=\"_ _1\"></span>(4)<span class=\"_ _fd\"> </span></span> -<span class=\"_ _26a\"> </span>Totale<span class=\"_ _140\"> </span>115.994<span class=\"_ _26a\"> </span>108.004<span class=\"_ _89\"> </span> <span class=\"_ _1\"></span>(72.201)<span class=\"_ _de\"> </span><span class=\"ls61\">553<span class=\"_ _e1\"> </span></span> (4)<span class=\"_ _2b\"> </span>152.346<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>a<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>n <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>ia<span class=\"_ _8\"></span>i<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>Eur<span class=\"_ _3\"></span>o<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span>2\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> <span class=\"_ _1\"></span>3\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span> <span class=\"_ _1\"></span> 4\u00b0<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>  <span class=\"_ _1\"></span>5\u00b0<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nno<span class=\"_ _26a\"> </span>Total<span class=\"_ _1\"></span>e<span class=\"_ _8\"></span> e<span class=\"_ _8\"></span>ntr<span class=\"_ _3\"></span>o <span class=\"_ _1\"></span>5<span class=\"_ _26a\"> </span>a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>E<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>bil<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span> ol<span class=\"_ _1\"></span>tre<span class=\"_ _1\"></span> 5 a<span class=\"_ _1\"></span>nni<span class=\"_ _26a\"> </span>Fina<span class=\"_ _3\"></span>nziamenti ban<span class=\"_ _3\"></span>c<span class=\"_ _1\"></span>ar<span class=\"_ _3\"></span>i<span class=\"_ _1ce\"> </span>54<span class=\"_ _3\"></span>.707<span class=\"_ _89\"> </span>32.12<span class=\"_ _3\"></span>6<span class=\"_ _cf\"> </span>2<span class=\"_ _3\"></span>7.648<span class=\"_ _10c\"> </span>12.17<span class=\"_ _3\"></span>0<span class=\"_ _26a\"> </span>12<span class=\"_ _3\"></span>6.65<span class=\"_ _3\"></span>1<span class=\"_ _bd\"> </span>18.894<span class=\"_ _26a\"> </span>D<span class=\"_ _3\"></span>ebiti per<span class=\"_ _3\"></span> <span class=\"_ _1\"></span>acquisti<span class=\"_ _1\"></span> par<span class=\"_ _3\"></span>tec<span class=\"_ _1\"></span>ipazion<span class=\"_ _3\"></span>i<span class=\"_ _26a\"> </span>1.60<span class=\"_ _3\"></span>0<span class=\"_ _58\"> </span><span class=\"ls63\"> -<span class=\"_ _c4\"> </span></span>5<span class=\"_ _3\"></span>.<span class=\"_ _1\"></span>20<span class=\"_ _3\"></span>1<span class=\"_ _5f\"> </span><span class=\"ls63\"> -<span class=\"_ _123\"> </span></span><span class=\"ff4\">6.801<span class=\"_ _c4\"> </span><span class=\"ls63\"> -<span class=\"_ _26a\"> </span></span></span>Alt<span class=\"_ _1\"></span>ri fin<span class=\"_ _3\"></span>an<span class=\"_ _3\"></span>z<span class=\"_ _1\"></span>iamen<span class=\"_ _3\"></span>ti -<span class=\"_ _78\"> </span> -<span class=\"_ _64\"> </span> -<span class=\"_ _58\"> </span> -<span class=\"_ _131\"> </span><span class=\"ff4\"> -<span class=\"_ _64\"> </span> -<span class=\"_ _26a\"> </span></span>Total<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span>56<span class=\"_ _3\"></span>.307<span class=\"_ _a0\"> </span>32.126<span class=\"_ _112\"> </span>32<span class=\"_ _3\"></span>.849<span class=\"_ _10c\"> </span>12.170<span class=\"_ _2b\"> </span>133<span class=\"_ _2\"></span>.<span class=\"_ _1\"></span>452<span class=\"_ _bd\"> </span>18<span class=\"_ _3\"></span>.894<span class=\"_ _26a\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-344": {
   "value": "La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>28 <span class=\"_ _21\"> </span>mig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>E<span class=\"_ _1\"></span>uro<span class=\"_ _8\"></span> <span class=\"_ _23\"> </span>r<span class=\"_ _1\"></span>ife<span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>ebit<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>st<span class=\"_ _1\"></span>imat<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>pe<span class=\"_ _1\"></span>r <span class=\"_ _21\"> </span>il <span class=\"_ _21\"> </span>pr<span class=\"_ _1\"></span>ezz<span class=\"_ _1\"></span>o <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>l <span class=\"_ _23\"> </span>3<span class=\"_ _1\"></span>0% <span class=\"_ _21\"> </span>de<span class=\"_ _1\"></span>lle <span class=\"_ _21\"> </span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i <span class=\"_ _23\"> </span>d<span class=\"_ _1\"></span>e<span class=\"_ _1\"></span>lla <span class=\"_ _21\"> </span>so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>et\u00e0<span class=\"_ _1\"></span> </span>Mar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>ate<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>&amp; <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _8\"></span><span class=\"ff8 fs41\"> </span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>dal <span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>mag<span class=\"_ _1\"></span>gi<span class=\"_ _1\"></span>o 2<span class=\"_ _1\"></span>02<span class=\"_ _1\"></span>3.<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span><span class=\"ff5\">1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>42 <span class=\"_ _20\"></span>mig<span class=\"_ _1\"></span>li<span class=\"_ _1\"></span>aia<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>i <span class=\"_ _20\"></span>Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>r<span class=\"_ _1\"></span>if<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>al<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>d<span class=\"_ _1\"></span>ebi<span class=\"_ _1\"></span>to <span class=\"_ _20\"> </span>at<span class=\"_ _1\"></span>tua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>mat<span class=\"_ _1\"></span>o <span class=\"_ _20\"></span>per<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>l <span class=\"_ _1e\"> </span></span>4,5% <span class=\"_ _11\"></span>delle <span class=\"_ _11\"></span>azio<span class=\"_ _1\"></span>ni <span class=\"_ _11\"></span>di<span class=\"_ _26a\"> </span></span><span class=\"ff2\"> </span>Agres <span class=\"_ _1\"></span>Sistemas<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>Eletr\u00f4nico<span class=\"_ _1\"></span>s <span class=\"_ _1\"></span>S.A <span class=\"_ _8\"></span><span class=\"ff5\">e <span class=\"_ _1\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>ol<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>di <span class=\"_ _8\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>nd<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>C<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span></span><span class=\"ls5d\">\u201d <span class=\"_ _1\"></span></span></span>da <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itarsi <span class=\"_ _1\"></span>da<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>1<span class=\"_ _26a\"> </span> gennaio 2023;<span class=\"_ _26a\"> </span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.9<span class=\"_ _1\"></span>86 mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iai<span class=\"_ _1\"></span>a di<span class=\"_ _1\"></span> Euro<span class=\"_ _1\"></span> rif<span class=\"_ _1\"></span>eri<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> al deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o ve<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o il so<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>o ce<span class=\"_ _1\"></span>den<span class=\"_ _1\"></span>te<span class=\"_ _1\"></span> dell<span class=\"_ _1\"></span>a s<span class=\"_ _1\"></span>oc<span class=\"_ _1\"></span>iet\u00e0<span class=\"_ _1\"></span> Val<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span>y Ind<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>ies<span class=\"_ _1\"></span> LLP<span class=\"_ _1\"></span> per<span class=\"_ _1\"></span> </span>l\u2019ac<span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>is<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l re<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>ant<span class=\"_ _1\"></span>e 10<span class=\"_ _1\"></span>%<span class=\"_ _1\"></span> ogget<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i \u201c<span class=\"_ _1\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t &amp; Ca<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span> Opti<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span>, di cu<span class=\"_ _1\"></span>i il<span class=\"_ _1\"></span> 4% es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tat<span class=\"_ _1\"></span>o ne<span class=\"_ _1\"></span>l cor<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>o del 2<span class=\"_ _1\"></span>022<span class=\"_ _1\"></span>.<span class=\"_ _8\"></span><span class=\"ff2\"> </span>Tali debiti sono<span class=\"_ _1\"></span> valorizzati <span class=\"_ _1\"></span>utilizzando i piani<span class=\"_ _1\"></span> delle societ\u00e0 t<span class=\"_ _1\"></span>arget e aggi<span class=\"_ _1\"></span>ornati progr<span class=\"_ _1\"></span>essivamente sulla b<span class=\"_ _1\"></span>ase dei<span class=\"_ _26a\"> </span> parametri <span class=\"_ _1\"></span>economico <span class=\"_ _1\"></span>finanz<span class=\"_ _1\"></span>iari che <span class=\"_ _1\"></span>regolano <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>prezzo <span class=\"_ _1\"></span>delle <span class=\"_ _1\"></span>quote <span class=\"_ _1\"></span>oggetto <span class=\"_ _8\"></span>d<span class=\"_ _1\"></span>i Put&amp;<span class=\"_ _1\"></span>Call <span class=\"_ _1\"></span>option. I<span class=\"_ _1\"></span>l debit<span class=\"_ _1\"></span>o isc<span class=\"_ _1\"></span>ritto<span class=\"_ _26a\"> </span> rappresenta ad oggi<span class=\"_ _1\"></span> la miglior stima pos<span class=\"_ _1\"></span>sibile.<span class=\"_ _26a\"> </span>La <span class=\"_ _1\"></span>vo<span class=\"_ _1\"></span>ce<span class=\"_ _1\"></span> \u201c<span class=\"_ _1\"></span><span class=\"ff4\">De<span class=\"_ _1\"></span>bi<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er <span class=\"_ _1\"></span>acq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>art<span class=\"_ _1\"></span>ec<span class=\"_ _1\"></span>ip<span class=\"_ _1\"></span>az<span class=\"_ _1\"></span>ion<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span></span>\u201d<span class=\"_ _1\"></span> in<span class=\"_ _1\"></span>cl<span class=\"_ _1\"></span>ude<span class=\"_ _1\"></span>:<span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.4<span class=\"_ _1\"></span>38 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span>,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la<span class=\"_ _1\"></span> pa<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>ui<span class=\"_ _1\"></span>st<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 19<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>az<span class=\"_ _1\"></span>ioni<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> M<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>ku<span class=\"_ _1\"></span>ss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> e <span class=\"_ _1\"></span>re<span class=\"_ _1\"></span>gola<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> da<span class=\"_ _1\"></span> c<span class=\"_ _1\"></span>ont<span class=\"_ _1\"></span>ra<span class=\"_ _1\"></span>tto<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> \u201c<span class=\"_ _11\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l o<span class=\"_ _1\"></span>pt<span class=\"_ _1\"></span>ion<span class=\"_ _8\"></span></span>\u201d d<span class=\"_ _1\"></span>a e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>are<span class=\"_ _1\"></span> ne<span class=\"_ _1\"></span>l 2<span class=\"_ _1\"></span>026<span class=\"_ _1\"></span>;<span class=\"_ _8\"></span><span class=\"ff2\"> </span>-<span class=\"ff2\"> <span class=\"_ _54\"> </span>2<span class=\"_ _1\"></span>.7<span class=\"_ _1\"></span>63 m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> di<span class=\"_ _1\"></span> Eur<span class=\"_ _1\"></span>o,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>ela<span class=\"_ _1\"></span>ti<span class=\"_ _1\"></span>vi a<span class=\"_ _1\"></span>l d<span class=\"_ _1\"></span>eb<span class=\"_ _1\"></span>ito<span class=\"_ _1\"></span> att<span class=\"_ _1\"></span>u<span class=\"_ _1\"></span>aliz<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> pe<span class=\"_ _1\"></span>r l<span class=\"_ _1\"></span>a p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>te d<span class=\"_ _1\"></span>i pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _11\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> del<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>4,5% delle<span class=\"_ _26a\"> </span></span>azioni <span class=\"_ _2\"></span>di <span class=\"_ _2\"></span>Agr<span class=\"_ _1\"></span>es <span class=\"_ _2\"></span>Sistem<span class=\"_ _1\"></span>as <span class=\"_ _2\"></span>Eletr\u00f4nicos<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>S.A <span class=\"ff5\">e <span class=\"_ _2\"></span>re<span class=\"_ _1\"></span>gol<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>o <span class=\"_ _3\"></span>da cont<span class=\"_ _1\"></span>rat<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>\u201c<span class=\"_ _8\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> <span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>nd <span class=\"_ _3\"></span>C<span class=\"_ _1\"></span>all<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>op<span class=\"_ _1\"></span>tio<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5 ls5d\">\u201d <span class=\"_ _2\"></span><span class=\"ff2 ls1\">da <span class=\"_ _2\"></span>eserc<span class=\"_ _1\"></span>itars<span class=\"_ _26a\"> </span></span></span></span></span>dal 1 gennaio 2026;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _54\"> </span>1<span class=\"_ _1\"></span>.6<span class=\"_ _1\"></span>00 <span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di<span class=\"_ _1\"></span> Eu<span class=\"_ _1\"></span>ro,<span class=\"_ _1\"></span> r<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>a<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span>deb<span class=\"_ _1\"></span>it<span class=\"_ _1\"></span>o <span class=\"_ _1\"></span>att<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>liz<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span>to <span class=\"_ _1\"></span>p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> la <span class=\"_ _1\"></span>pa<span class=\"_ _1\"></span>rte<span class=\"_ _1\"></span> <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>pr<span class=\"_ _1\"></span>ez<span class=\"_ _1\"></span>z<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>cq<span class=\"_ _1\"></span>uis<span class=\"_ _1\"></span>t<span class=\"_ _1\"></span>o d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>de<span class=\"_ _1\"></span>ll<span class=\"_ _1\"></span>e<span class=\"_ _26a\"> </span></span>quote di Poli S.r.l. e rego<span class=\"_ _1\"></span>lato da contr<span class=\"_ _1\"></span>atto di \u201c<span class=\"ff7 ls1\">P<span class=\"_ _1\"></span>ut <span class=\"_ _1\"></span>an<span class=\"_ _1\"></span>d <span class=\"_ _1\"></span>Ca<span class=\"_ _1\"></span>ll <span class=\"_ _1\"></span>opt<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>n<span class=\"_ _1\"></span><span class=\"ff5\">\u201d <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>es<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>ci<span class=\"_ _1\"></span>tar<span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>a il<span class=\"_ _1\"></span> 20<span class=\"_ _1\"></span>24 <span class=\"_ _1\"></span>e <span class=\"_ _1\"></span>20<span class=\"_ _1\"></span>26<span class=\"_ _8\"></span><span class=\"ff2\">.<span class=\"_ _1\"></span> </span></span></span>Nel<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>co<span class=\"_ _1\"></span>rs<span class=\"_ _1\"></span>o <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>ll\u2019e<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>rc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io <span class=\"_ _8\"></span>i<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>de<span class=\"_ _1\"></span>bit<span class=\"_ _1\"></span>i <span class=\"_ _8\"></span>pe<span class=\"_ _1\"></span>r <span class=\"_ _8\"></span>l<span class=\"_ _1\"></span>a <span class=\"_ _8\"></span>r<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>olaz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>del<span class=\"_ _1\"></span>le<span class=\"_ _1\"></span> <span class=\"_ _20\"></span><span class=\"ff7\">Pu<span class=\"_ _1\"></span>t <span class=\"_ _8\"></span>&amp;<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _8\"></span>o<span class=\"_ _1\"></span>pti<span class=\"_ _1\"></span>on <span class=\"_ _11\"></span><span class=\"ff2\">di<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Mar<span class=\"_ _1\"></span>k<span class=\"_ _1\"></span>us<span class=\"_ _1\"></span>s<span class=\"_ _1\"></span>on <span class=\"_ _8\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _8\"></span>Agr<span class=\"_ _1\"></span>es<span class=\"_ _8\"></span></span> <span class=\"_ _8\"></span><span class=\"ff2\">so<span class=\"_ _1\"></span>no <span class=\"_ _11\"></span>stat<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span></span>adeguati <span class=\"_ _20\"></span>per<span class=\"ls1\"> <span class=\"_ _20\"></span>u<span class=\"_ _1\"></span>n <span class=\"_ _20\"></span>ma<span class=\"_ _1\"></span>gg<span class=\"_ _1\"></span>ior<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>v<span class=\"_ _1\"></span>al<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>r<span class=\"_ _1\"></span>isp<span class=\"_ _1\"></span>et<span class=\"_ _1\"></span>tiv<span class=\"_ _1\"></span>ame<span class=\"_ _1\"></span>nte<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>pa<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>a <span class=\"_ _20\"></span>1<span class=\"_ _1\"></span>.0<span class=\"_ _1\"></span>22 <span class=\"_ _20\"></span>e<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>7<span class=\"_ _1\"></span>97 <span class=\"_ _20\"></span>m<span class=\"_ _1\"></span>ig<span class=\"_ _1\"></span>lia<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>di<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>E<span class=\"_ _1\"></span>uro<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>in <span class=\"_ _23\"></span>cons<span class=\"_ _1\"></span>eg<span class=\"_ _1\"></span>uen<span class=\"_ _1\"></span>za<span class=\"_ _1\"></span> <span class=\"_ _20\"></span>de<span class=\"_ _1\"></span>i<span class=\"_ _26a\"> </span></span>migl<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span>su<span class=\"_ _1\"></span>lta<span class=\"_ _1\"></span>ti <span class=\"_ _1\"></span>eco<span class=\"_ _1\"></span>no<span class=\"_ _1\"></span>mi<span class=\"_ _1\"></span>co<span class=\"_ _8\"></span>-<span class=\"_ _1\"></span>fin<span class=\"_ _1\"></span>anz<span class=\"_ _1\"></span>ia<span class=\"_ _1\"></span>ri <span class=\"_ _1\"></span>ris<span class=\"_ _1\"></span>pe<span class=\"_ _1\"></span>tt<span class=\"_ _1\"></span>o a<span class=\"_ _1\"></span> qu<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>li <span class=\"_ _1\"></span>pia<span class=\"_ _1\"></span>nif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>at<span class=\"_ _1\"></span>i a<span class=\"_ _1\"></span>l 3<span class=\"_ _1\"></span>1 <span class=\"_ _1\"></span>dic<span class=\"_ _1\"></span>em<span class=\"_ _1\"></span>br<span class=\"_ _1\"></span>e d<span class=\"_ _1\"></span>el<span class=\"_ _1\"></span>lo <span class=\"_ _1\"></span>sc<span class=\"_ _1\"></span>or<span class=\"_ _1\"></span>so<span class=\"_ _1\"></span> es<span class=\"_ _1\"></span>erc<span class=\"_ _1\"></span>iz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>. <span class=\"_ _11\"></span> Ino<span class=\"_ _1\"></span>ltr<span class=\"_ _1\"></span>e la modif<span class=\"_ _1\"></span>ic<span class=\"_ _1\"></span>a dei term<span class=\"_ _1\"></span>i<span class=\"_ _1\"></span>ni del<span class=\"_ _1\"></span>la Put &amp; Call di<span class=\"_ _1\"></span> <span class=\"_ _3\"></span>Ma<span class=\"_ _1\"></span>rk<span class=\"_ _11\"></span><span class=\"ff5\">uss<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span> ha <span class=\"_ _3\"></span>co<span class=\"_ _1\"></span>mpo<span class=\"_ _1\"></span>rt<span class=\"_ _1\"></span>ato<span class=\"_ _1\"></span> l\u2019adeg<span class=\"_ _1\"></span>ua<span class=\"_ _1\"></span>men<span class=\"_ _1\"></span>to de<span class=\"_ _1\"></span>l relat<span class=\"_ _1\"></span>iv<span class=\"_ _1\"></span>o debi<span class=\"_ _1\"></span>to<span class=\"_ _1\"></span> </span>co<span class=\"_ _1\"></span>n la c<span class=\"_ _1\"></span>on<span class=\"_ _1\"></span>se<span class=\"_ _1\"></span>gue<span class=\"_ _1\"></span>nt<span class=\"_ _1\"></span>e is<span class=\"_ _1\"></span>c<span class=\"_ _1\"></span>riz<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>ne d<span class=\"_ _1\"></span>i u<span class=\"_ _1\"></span>n m<span class=\"_ _1\"></span>agg<span class=\"_ _1\"></span>io<span class=\"_ _1\"></span>r on<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span>e p<span class=\"_ _1\"></span>ar<span class=\"_ _1\"></span>i a 5<span class=\"_ _1\"></span>81<span class=\"_ _1\"></span> mi<span class=\"_ _1\"></span>gl<span class=\"_ _1\"></span>iaia<span class=\"_ _1\"></span> d<span class=\"_ _1\"></span>i Eu<span class=\"_ _1\"></span>ro<span class=\"_ _1\"></span> (p<span class=\"_ _1\"></span>er<span class=\"_ _1\"></span> ma<span class=\"_ _1\"></span>ggio<span class=\"_ _1\"></span>ri<span class=\"_ _1\"></span> de<span class=\"_ _1\"></span>tta<span class=\"_ _1\"></span>g<span class=\"_ _1\"></span>li s<span class=\"_ _1\"></span>i ve<span class=\"_ _1\"></span>d<span class=\"_ _1\"></span>a<span class=\"_ _26a\"> </span>not<span class=\"_ _1\"></span>a 7<span class=\"_ _1\"></span>).<span class=\"_ _1\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-404": {
   "value": "I principiali tassi di interesse applicati sui finanziamenti di breve e di medio lungo termine sono i seguenti:  - sui finanziamenti bancari in Euro si applica l\u2019Euribor pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Sterline britanniche si applica il \u201cbase rate\u201d Bank of England pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Dollari USA si applica il SOFR pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Reais brasiliani si applica il CDI pi\u00f9 uno spread fisso; - sui finanziamenti bancari in Zloty Polacchi si applica il Wibor pi\u00f9 uno spread fisso. Il valore contabile delle poste in bilancio non differisce dal relativo fair value. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingCostsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-345": {
   "value": "32. Attivit\u00e0 e passivit\u00e0 fiscali Il dettaglio delle imposte differite attive \u00e8 il seguente: Si stima che la quota di imposte che presumibilmente si riverseranno entro i 12 mesi successivi sia in linea con il decremento registrato nel corso del 2022. La voce \u201cAltre imposte differite attive\u201d include principalmente il credito per imposte su perdite fiscali dell\u2019anno e  utilizzabili  nell\u2019ambito  del  consolidato  fiscale  a  cui  il  Gruppo  aderisce,  i  benefici,  maturati  e  non  ancora utilizzati, derivanti dall\u2019agevolazione \u201cACE\u201d e gli effetti fiscali legati ad accantonamenti a riconoscimento fiscale differito.    Il dettaglio delle imposte differite passive \u00e8 il seguente: Le altre imposte differite passive si riferiscono principalmente a proventi gi\u00e0 contabilizzati, ma che acquisiranno rilevanza fiscale nei prossimi esercizi. L\u2019incremento da variazione d\u2019area si riferisce alle imposte differite passive emergenti dal consolidamento e dal processo di Purchase Price Allocation nell\u2019ambito dell\u2019operazione di business combination della societ\u00e0 Trebol Maquinaria y Suministros S.A. come descritto al paragrafo 7 \u201cEventi ed operazioni significative non ricorrenti\u201d delle presenti note. Le imposte differite passive sono state stanziate per 327 migliai di Euro a fronte del fair value attribuito alla lista clienti e al marchio. Dati in migliaia di Euro 31.12.2021 Increm. Decrem. Altri movimenti Effetto cambio 31.12.2022 Imposte differite attive su svalutazioni di attivit\u00e0 215  -  (48)  - 2 169 Imposte differite attive su storno utili infragruppo non realizzati2.834 703  -  -  - 3.537 Imposte differite attive su svalutazione magazzino 2.196 356  (182)  -  (2) 2.368 Imposte differite attive su perdite fiscali pregresse 12 182  (110)  -  - 84 Imposte differite attive su svalutazione crediti 572 67  (135)  -  (1) 503 Imposte anticipate su diritto d'uso IFRS 16 231 55  (11)  - 2 277 Imposte differite attive su differenze cambio non realizzate 276 176  (60)  - 26 418 Imposte differite attive su riallineamenti e rivalutazioni fiscali 1.197  -  (39)  (14)  - 1.144 Altre imposte differite attive 2.479 320  (747)  (154)  (3) 1.895 Totale (nota 16) 10.012 1.859  (1.332)  (168) 24 10.395 Dati in migliaia di Euro 31.12.2021 Variazione area Increm. Decrem. Altri movimenti Effetto cambio 31.12.2022 Imposte differite passive su immobili ex IAS 17 98 -  - (5)  -  - 93 Imposte differite passive su ammortamenti 5.080 327 311 (316)  - 125 5.527 Altre imposte differite passive 2.208 34 475 (438)  (5) 68 2.342 Totale (nota 16) 7.386 361 786  (759)  (5) 193 7.962 Si stima che la quota di imposte che presumibilmente si riverser\u00e0 entro i 12 mesi successivi sia in linea con il decremento registrato nel corso del 2022. Al 31 dicembre 2022, non sono state rilevate imposte differite passive per imposte su utili non distribuiti delle Societ\u00e0 controllate, in quanto il Gruppo non ritiene, al momento, che tali utili saranno distribuiti in un prevedibile futuro. Si precisa inoltre che non sono state stanziate le imposte differite passive a fronte delle riserve di rivalutazione, che costituiscono riserve in parziale sospensione d\u2019imposta, in quanto \u00e8 probabile che non verranno effettuate operazioni che ne possano determinare la tassazione.  I crediti tributari ammontano al 31 dicembre 2022 a 9.967 migliaia di Euro, contro 10.076 migliaia di Euro al 31 dicembre 2021, e si riferiscono a crediti per Iva, per acconti d\u2019imposte dirette eccedenti il debito e ad altri crediti tributari.  I debiti tributari ammontano al 31 dicembre 2022 a 4.984 migliaia di Euro, contro 6.182 migliaia di Euro dell\u2019esercizio precedente, e comprendono debiti per imposte dirette di competenza, debiti per Iva e ritenute da versare. Le principali societ\u00e0 italiane del Gruppo partecipano con la controllante Yama S.p.A. al consolidato fiscale ex artt.  117  e  seguenti  del  D.P.R.  n.  917/1986:  le  posizioni  per  imposte  correnti  IRES  di  tali  societ\u00e0  sono contabilizzati alla voce Altri debiti (Nota 29) e Altri crediti (Nota 24). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-405": {
   "value": "32. Attivit\u00e0 e passivit\u00e0 fiscali Il dettaglio delle imposte differite attive \u00e8 il seguente: Si stima che la quota di imposte che presumibilmente si riverseranno entro i 12 mesi successivi sia in linea con il decremento registrato nel corso del 2022. La voce \u201cAltre imposte differite attive\u201d include principalmente il credito per imposte su perdite fiscali dell\u2019anno e  utilizzabili  nell\u2019ambito  del  consolidato  fiscale  a  cui  il  Gruppo  aderisce,  i  benefici,  maturati  e  non  ancora utilizzati, derivanti dall\u2019agevolazione \u201cACE\u201d e gli effetti fiscali legati ad accantonamenti a riconoscimento fiscale differito.    Il dettaglio delle imposte differite passive \u00e8 il seguente: Le altre imposte differite passive si riferiscono principalmente a proventi gi\u00e0 contabilizzati, ma che acquisiranno rilevanza fiscale nei prossimi esercizi. L\u2019incremento da variazione d\u2019area si riferisce alle imposte differite passive emergenti dal consolidamento e dal processo di Purchase Price Allocation nell\u2019ambito dell\u2019operazione di business combination della societ\u00e0 Trebol Maquinaria y Suministros S.A. come descritto al paragrafo 7 \u201cEventi ed operazioni significative non ricorrenti\u201d delle presenti note. Le imposte differite passive sono state stanziate per 327 migliai di Euro a fronte del fair value attribuito alla lista clienti e al marchio. Dati in migliaia di Euro 31.12.2021 Increm. Decrem. Altri movimenti Effetto cambio 31.12.2022 Imposte differite attive su svalutazioni di attivit\u00e0 215  -  (48)  - 2 169 Imposte differite attive su storno utili infragruppo non realizzati2.834 703  -  -  - 3.537 Imposte differite attive su svalutazione magazzino 2.196 356  (182)  -  (2) 2.368 Imposte differite attive su perdite fiscali pregresse 12 182  (110)  -  - 84 Imposte differite attive su svalutazione crediti 572 67  (135)  -  (1) 503 Imposte anticipate su diritto d'uso IFRS 16 231 55  (11)  - 2 277 Imposte differite attive su differenze cambio non realizzate 276 176  (60)  - 26 418 Imposte differite attive su riallineamenti e rivalutazioni fiscali 1.197  -  (39)  (14)  - 1.144 Altre imposte differite attive 2.479 320  (747)  (154)  (3) 1.895 Totale (nota 16) 10.012 1.859  (1.332)  (168) 24 10.395 Dati in migliaia di Euro 31.12.2021 Variazione area Increm. Decrem. Altri movimenti Effetto cambio 31.12.2022 Imposte differite passive su immobili ex IAS 17 98 -  - (5)  -  - 93 Imposte differite passive su ammortamenti 5.080 327 311 (316)  - 125 5.527 Altre imposte differite passive 2.208 34 475 (438)  (5) 68 2.342 Totale (nota 16) 7.386 361 786  (759)  (5) 193 7.962 Si stima che la quota di imposte che presumibilmente si riverser\u00e0 entro i 12 mesi successivi sia in linea con il decremento registrato nel corso del 2022. Al 31 dicembre 2022, non sono state rilevate imposte differite passive per imposte su utili non distribuiti delle Societ\u00e0 controllate, in quanto il Gruppo non ritiene, al momento, che tali utili saranno distribuiti in un prevedibile futuro. Si precisa inoltre che non sono state stanziate le imposte differite passive a fronte delle riserve di rivalutazione, che costituiscono riserve in parziale sospensione d\u2019imposta, in quanto \u00e8 probabile che non verranno effettuate operazioni che ne possano determinare la tassazione.  I crediti tributari ammontano al 31 dicembre 2022 a 9.967 migliaia di Euro, contro 10.076 migliaia di Euro al 31 dicembre 2021, e si riferiscono a crediti per Iva, per acconti d\u2019imposte dirette eccedenti il debito e ad altri crediti tributari.  I debiti tributari ammontano al 31 dicembre 2022 a 4.984 migliaia di Euro, contro 6.182 migliaia di Euro dell\u2019esercizio precedente, e comprendono debiti per imposte dirette di competenza, debiti per Iva e ritenute da versare. Le principali societ\u00e0 italiane del Gruppo partecipano con la controllante Yama S.p.A. al consolidato fiscale ex artt.  117  e  seguenti  del  D.P.R.  n.  917/1986:  le  posizioni  per  imposte  correnti  IRES  di  tali  societ\u00e0  sono contabilizzati alla voce Altri debiti (Nota 29) e Altri crediti (Nota 24). ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-406": {
   "value": "34. Fondi per rischi e oneri Dettaglio movimenti degli accantonamenti: Il fondo per indennit\u00e0 suppletiva di clientela \u00e8 calcolato in riferimento ai rapporti di agenzia in essere alla chiusura del periodo; si riferisce alla probabile indennit\u00e0 che dovr\u00e0 essere corrisposta agli agenti in occasione della risoluzione del rispettivo rapporto. Lo stanziamento del periodo, pari a 245 migliaia di Euro, \u00e8 stato rilevato tra gli accantonamenti alla voce \u201cAltri costi operativi\u201d del Conto Economico. Gli altri fondi non correnti, pari a 170 migliaia di Euro si riferiscono principalmente ad una vertenza legata ad un\u2019ipotesi di violazione di diritti di privativa industriale. Tali fondi sono stati incrementati per circa 136 migliaia di Euro al fine di tenere conto delle probabili evoluzione future dei contenziosi.  Il fondo garanzia prodotti si riferisce alle future spese per riparazioni che saranno sostenute per le vendite coperte dal periodo di garanzia legale e/o contrattuale; l\u2019accantonamento si basa su stime estrapolate da trend storici. La voce \u201cAltri fondi\u201d, per la quota corrente, si riferisce alla miglior stima di passivit\u00e0 ritenute allo stato attuale probabili e si riferiscono a: -  stanziamento nel 2022 di 50 migliaia di euro quale miglior stima delle spese di difesa da sostenere a fronte di un contenzioso fiscale emerso nel corso del 2022; -  stanziamenti per 104 migliaia di Euro per alcune contestazioni e vertenze di diversa natura. Nel corso dell\u2019esercizio sono stati utilizzati i fondi accantonati nell\u2019esercizio precedente e riferiti a: -  un contenzioso con alcuni dipendenti della societ\u00e0 Speed North America e chiuso nel corso del 2022 con il pagamento da parte della societ\u00e0 dell\u2019importo stanziato al 31 dicembre 2021, pari a 325 migliaia di dollari americani; -  un contenzioso di natura fiscale in capo alla societ\u00e0 Speed France e definito nel corso del 2022 con il pagamento di 55 migliaia di Euro. Il Gruppo, anche sulla base delle informazioni allo stato attuali disponibili e sulla scorta del parere dei propri consulenti, non ritiene di stanziare ulteriori fondi per passivit\u00e0 incombenti. Dati in migliaia di Euro 31.12.2021 Incremementi Decrementi Effetto cambio 31.12.2022 Fondo indennit\u00e0 suppletiva di clientela 2.466 245  (103) 2.608 Altri fondi 124 136 (92) 2  170 Totale non corrente 2.590 381 (195) - 2.778 Fondo garanzia prodotti 1.315 62 (41) 1  1.337 Altri fondi 571 154  (502) 23  246 Totale corrente 1.886 216 (543) 24  1.583 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherProvisionsContingentLiabilitiesAndContingentAssetsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-346": {
   "value": "34. Fondi per rischi e oneri Dettaglio movimenti degli accantonamenti: Il fondo per indennit\u00e0 suppletiva di clientela \u00e8 calcolato in riferimento ai rapporti di agenzia in essere alla chiusura del periodo; si riferisce alla probabile indennit\u00e0 che dovr\u00e0 essere corrisposta agli agenti in occasione della risoluzione del rispettivo rapporto. Lo stanziamento del periodo, pari a 245 migliaia di Euro, \u00e8 stato rilevato tra gli accantonamenti alla voce \u201cAltri costi operativi\u201d del Conto Economico. Gli altri fondi non correnti, pari a 170 migliaia di Euro si riferiscono principalmente ad una vertenza legata ad un\u2019ipotesi di violazione di diritti di privativa industriale. Tali fondi sono stati incrementati per circa 136 migliaia di Euro al fine di tenere conto delle probabili evoluzione future dei contenziosi.  Il fondo garanzia prodotti si riferisce alle future spese per riparazioni che saranno sostenute per le vendite coperte dal periodo di garanzia legale e/o contrattuale; l\u2019accantonamento si basa su stime estrapolate da trend storici. La voce \u201cAltri fondi\u201d, per la quota corrente, si riferisce alla miglior stima di passivit\u00e0 ritenute allo stato attuale probabili e si riferiscono a: -  stanziamento nel 2022 di 50 migliaia di euro quale miglior stima delle spese di difesa da sostenere a fronte di un contenzioso fiscale emerso nel corso del 2022; -  stanziamenti per 104 migliaia di Euro per alcune contestazioni e vertenze di diversa natura. Nel corso dell\u2019esercizio sono stati utilizzati i fondi accantonati nell\u2019esercizio precedente e riferiti a: -  un contenzioso con alcuni dipendenti della societ\u00e0 Speed North America e chiuso nel corso del 2022 con il pagamento da parte della societ\u00e0 dell\u2019importo stanziato al 31 dicembre 2021, pari a 325 migliaia di dollari americani; -  un contenzioso di natura fiscale in capo alla societ\u00e0 Speed France e definito nel corso del 2022 con il pagamento di 55 migliaia di Euro. Il Gruppo, anche sulla base delle informazioni allo stato attuali disponibili e sulla scorta del parere dei propri consulenti, non ritiene di stanziare ulteriori fondi per passivit\u00e0 incombenti. Dati in migliaia di Euro 31.12.2021 Incremementi Decrementi Effetto cambio 31.12.2022 Fondo indennit\u00e0 suppletiva di clientela 2.466 245  (103) 2.608 Altri fondi 124 136 (92) 2  170 Totale non corrente 2.590 381 (195) - 2.778 Fondo garanzia prodotti 1.315 62 (41) 1  1.337 Altri fondi 571 154  (502) 23  246 Totale corrente 1.886 216 (543) 24  1.583 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-347": {
   "value": "35. Altre passivit\u00e0 non correnti La voce \u201cAltre passivit\u00e0 non correnti\u201d pari a Euro 1.510 migliaia include: \u2022  876 migliaia di Euro (1.521 migliaia di Euro al 31 dicembre 2021) relativi al debito a lungo termine per l\u2019acquisizione  da  parte  di  Speed  France  della  tecnologia  per  la  produzione  di  mono  filamenti  in poliestere e cavi per applicazioni agricole; \u2022  405  migliaia  di  Euro,  428  migliaia  di  Euro  al  31  dicembre  2021,  riferiti  alle  quote  parti  di  futura competenza dei contributi in conto impianti contabilizzati ai sensi della Legge 488/92 a favore della societ\u00e0 Comag S.r.l., poi fusa in Emak S.p.A.. La parte di contributi riscontabile entro l\u2019anno \u00e8 inserita nel passivo corrente tra gli altri debiti ed ammonta a 23 migliaia di Euro; \u2022  126 migliaia di Euro (170 migliaia di Euro nel 2021) relativo alle quote parti di futura competenza dei contributi in conto impianti riferiti ai costi per lo sviluppo di nuovi prodotti nell\u2019ambito di un progetto pluriennale  oggetto  di  agevolazioni  da  parte  del  Ministero  dello  Sviluppo  Economico.  La  parte  di contributi riscontabile entro l\u2019anno \u00e8 inserita nel passivo corrente tra gli altri debiti ed ammonta a 94 migliaia di Euro. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherNoncurrentLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-407": {
   "value": "35. Altre passivit\u00e0 non correnti La voce \u201cAltre passivit\u00e0 non correnti\u201d pari a Euro 1.510 migliaia include: \u2022  876 migliaia di Euro (1.521 migliaia di Euro al 31 dicembre 2021) relativi al debito a lungo termine per l\u2019acquisizione  da  parte  di  Speed  France  della  tecnologia  per  la  produzione  di  mono  filamenti  in poliestere e cavi per applicazioni agricole; \u2022  405  migliaia  di  Euro,  428  migliaia  di  Euro  al  31  dicembre  2021,  riferiti  alle  quote  parti  di  futura competenza dei contributi in conto impianti contabilizzati ai sensi della Legge 488/92 a favore della societ\u00e0 Comag S.r.l., poi fusa in Emak S.p.A.. La parte di contributi riscontabile entro l\u2019anno \u00e8 inserita nel passivo corrente tra gli altri debiti ed ammonta a 23 migliaia di Euro; \u2022  126 migliaia di Euro (170 migliaia di Euro nel 2021) relativo alle quote parti di futura competenza dei contributi in conto impianti riferiti ai costi per lo sviluppo di nuovi prodotti nell\u2019ambito di un progetto pluriennale  oggetto  di  agevolazioni  da  parte  del  Ministero  dello  Sviluppo  Economico.  La  parte  di contributi riscontabile entro l\u2019anno \u00e8 inserita nel passivo corrente tra gli altri debiti ed ammonta a 94 migliaia di Euro. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredIncomeExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-350": {
   "value": "36. Passivit\u00e0 potenziali Il Gruppo non ha in essere ulteriori contenziosi significativi rispetto a quelli che potrebbero dare origine a passivit\u00e0 potenziali. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-348": {
   "value": "37. Impegni<span class=\"_ _26a\"> </span>Acquisti di immobiliz<span class=\"_ _1\"></span>zazioni<span class=\"_ _1\"></span> Il Gruppo <span class=\"_ _1\"></span>ha <span class=\"_ _1\"></span>impegni per <span class=\"_ _1\"></span>acquisti <span class=\"_ _1\"></span>di i<span class=\"_ _1\"></span>mmobilizzazioni <span class=\"_ _1\"></span>non co<span class=\"_ _1\"></span>ntabilizzati <span class=\"_ _1\"></span>nel <span class=\"_ _1\"></span>bilancio <span class=\"_ _1\"></span>alla data <span class=\"_ _1\"></span>del <span class=\"_ _1\"></span>31 dice<span class=\"_ _1\"></span>mbre<span class=\"_ _26a\"> </span>2022 per un importo p<span class=\"_ _1\"></span>ari a 3.802 m<span class=\"_ _1\"></span>igliaia di Euro. <span class=\"_ _1\"></span><span class=\"ff4\"> </span>Tali impegni si riferisc<span class=\"_ _1\"></span>ono principalment<span class=\"_ _1\"></span>e all\u2019acquisto di attrezz<span class=\"_ _1\"></span>ature. <span class=\"_ _8\"></span><span class=\"ff2\"> </span>Acquisti di ulteriori<span class=\"_ _1\"></span> quote di parte<span class=\"_ _1\"></span>cipazioni<span class=\"_ _1\"></span> Si <span class=\"_ _11\"></span>s<span class=\"_ _1\"></span>egnala <span class=\"_ _20\"></span>ch<span class=\"_ _1\"></span>e <span class=\"_ _20\"></span>relativamente <span class=\"_ _20\"></span>a<span class=\"_ _1\"></span>lle <span class=\"_ _20\"></span>partecipaz<span class=\"_ _1\"></span>ioni <span class=\"_ _20\"></span>detenute <span class=\"_ _20\"></span>dir<span class=\"_ _1\"></span>ettamente <span class=\"_ _20\"></span>o <span class=\"_ _23\"></span>indirettamente <span class=\"_ _20\"></span>dalla <span class=\"_ _20\"></span>Ca<span class=\"_ _1\"></span>pogruppo<span class=\"_ _26a\"> </span>Emak S.p.A. sono in <span class=\"_ _1\"></span>essere i seguenti ac<span class=\"_ _1\"></span>cordi contrattual<span class=\"_ _1\"></span>i:<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _2\"></span>con<span class=\"_ _1\"></span>tratto <span class=\"_ _3\"></span>di <span class=\"_ _3\"></span>acquisizione della <span class=\"_ _2\"></span>controllata Valley <span class=\"_ _2\"></span>In<span class=\"_ _1\"></span>dustr<span class=\"_ _1\"></span><span class=\"ff5\">ies LLP <span class=\"_ _2\"></span>\u00e8 <span class=\"_ _3\"></span>stata <span class=\"_ _3\"></span>definita un\u2019opzione <span class=\"_ _2\"></span>\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put<span class=\"_ _1\"></span> &amp; <span class=\"_ _3\"></span>Cal<span class=\"_ _1\"></span>l<span class=\"ff5 lsf\">\u201d<span class=\"_ _26a\"> </span></span></span></span></span>per <span class=\"_ _1\"></span>il <span class=\"_ _1\"></span>restante <span class=\"_ _1\"></span>6<span class=\"_ _1\"></span>% <span class=\"_ _1\"></span>della <span class=\"_ _8\"></span>partecipazione <span class=\"_ _8\"></span>a <span class=\"_ _1\"></span>favore <span class=\"_ _1\"></span>del<span class=\"_ _1\"></span><span class=\"ff7\"> <span class=\"_ _1\"></span>tr<span class=\"_ _1\"></span>ust</span> <span class=\"_ _8\"></span>Savage I<span class=\"_ _1\"></span>nvestments <span class=\"_ _8\"></span>LLC, <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>eserc<span class=\"_ _1\"></span>itarsi <span class=\"_ _1\"></span>senza<span class=\"_ _26a\"> </span>alcun vincolo di scade<span class=\"_ _1\"></span>nza;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel c<span class=\"_ _1\"></span>ontratto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>acquisiz<span class=\"_ _1\"></span>ione <span class=\"_ _1\"></span>della <span class=\"_ _1\"></span>societ<span class=\"_ _1\"></span>\u00e0 con<span class=\"_ _1\"></span>trollata <span class=\"_ _1\"></span>Markus<span class=\"_ _1\"></span>son, <span class=\"_ _1\"></span>partecipa<span class=\"_ _8\"></span>ta <span class=\"_ _1\"></span>da <span class=\"_ _1\"></span>Tec<span class=\"_ _1\"></span>omec <span class=\"_ _1\"></span>S.r.l. <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>una<span class=\"_ _1\"></span> </span>quota pari <span class=\"_ _1\"></span>al 51%, v<span class=\"_ _1\"></span>i \u00e8 <span class=\"_ _1\"></span>un a<span class=\"_ _1\"></span>ccordo di \u201c<span class=\"_ _1\"></span><span class=\"ff7\">P<span class=\"_ _1\"></span>ut <span class=\"_ _8\"></span>&amp; <span class=\"_ _1\"></span>Cal<span class=\"_ _1\"></span>l <span class=\"_ _1\"></span></span>Op<span class=\"_ _1\"></span>tion\u201d che <span class=\"_ _1\"></span>regola l\u2019ac<span class=\"_ _1\"></span>quisto del <span class=\"_ _1\"></span>30% da <span class=\"_ _1\"></span>esercitare <span class=\"_ _1\"></span>dal<span class=\"_ _26a\"> </span>1 maggio 2023 al 15 <span class=\"_ _1\"></span>giugno 2023 e per <span class=\"_ _1\"></span>il restante 19% dal 1 <span class=\"_ _1\"></span>maggio 2026;<span class=\"_ _8\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _23\"> </span>co<span class=\"_ _1\"></span>ntratto <span class=\"_ _21\"> </span>di <span class=\"_ _21\"> </span>acquisiz<span class=\"_ _1\"></span>ione <span class=\"_ _21\"> </span>della <span class=\"_ _21\"> </span>societ\u00e0<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>c<span class=\"_ _1\"></span>oll<span class=\"_ _1\"></span>egata <span class=\"_ _21\"> </span>Agres <span class=\"_ _21\"> </span>Siste<span class=\"_ _1\"></span>mas <span class=\"_ _21\"> </span>Eletr\u00f4nicos<span class=\"_ _1\"></span> <span class=\"_ _23\"> </span>S.A<span class=\"_ _1\"></span>, <span class=\"_ _21\"> </span>partecipa<span class=\"_ _1\"></span>ta <span class=\"_ _21\"> </span>da<span class=\"_ _26a\"> </span></span>Tecomec <span class=\"_ _1\"></span>S.r.l. <span class=\"_ _1\"></span>con <span class=\"_ _1\"></span>una <span class=\"_ _1\"></span>qu<span class=\"_ _1\"></span>ota p<span class=\"_ _1\"></span>ari <span class=\"_ _1\"></span>al <span class=\"_ _1\"></span>91%, <span class=\"_ _1\"></span>vi <span class=\"_ _1\"></span>\u00e8 <span class=\"_ _1\"></span>un <span class=\"_ _1\"></span>accordo <span class=\"_ _1\"></span>di<span class=\"_ _8\"></span> <span class=\"ff5\">\u201c<span class=\"_ _1\"></span><span class=\"ff7\">Put <span class=\"_ _1\"></span>and <span class=\"_ _1\"></span>Call</span>\u201d <span class=\"_ _8\"></span>per l\u2019<span class=\"_ _1\"></span>acquisto <span class=\"_ _1\"></span>di <span class=\"_ _1\"></span>un\u2019ulteriore<span class=\"_ _1\"></span> </span>quota del 9% da eserc<span class=\"_ _1\"></span>itarsi per il 50% d<span class=\"_ _1\"></span>al 1 gennaio<span class=\"_ _1\"></span> 2023 e per <span class=\"_ _1\"></span>il restante 50<span class=\"_ _1\"></span>% dal 1 gennaio <span class=\"_ _1\"></span>2026;<span class=\"_ _1\"></span> -<span class=\"ff2\"> <span class=\"_ _30\"> </span>nel <span class=\"_ _20\"></span>contr<span class=\"_ _1\"></span>atto <span class=\"_ _23\"></span>di <span class=\"_ _20\"></span>ac<span class=\"_ _1\"></span>quisizione <span class=\"_ _23\"> </span>della <span class=\"_ _23\"></span>societ\u00e0 <span class=\"_ _23\"></span>Poli <span class=\"_ _20\"></span>S.r.l., <span class=\"_ _23\"> </span>controllata <span class=\"_ _23\"> </span>da <span class=\"_ _23\"></span>Comet <span class=\"_ _23\"></span>S.p.A. <span class=\"_ _23\"></span>con <span class=\"_ _20\"></span>una <span class=\"_ _23\"> </span>quota <span class=\"_ _23\"></span>pari<span class=\"_ _26a\"> </span></span>all\u201980%, \u00e8 incluso un acc<span class=\"_ _1\"></span>ordo di \u201c<span class=\"ff7\">Pu<span class=\"_ _1\"></span>t and Call</span>\u201d per l\u2019ac<span class=\"_ _1\"></span>quisto del restante 2<span class=\"_ _1\"></span>0% da eserc<span class=\"_ _1\"></span>itarsi tra il 20<span class=\"_ _1\"></span><span class=\"ff2\">24 e<span class=\"_ _26a\"> </span></span>2026.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-349": {
   "value": "38. Garanzie Al 31 dicembre 2022 il Gruppo ha prestato garanzie a terzi per 5.762 migliaia di Euro, riguardanti polizze fideiussorie per diritti doganali e garanzie bancarie.  ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCollateralExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-351": {
   "value": "39. Azioni ordinarie, azioni proprie e dividendi Il capitale sociale, interamente versato, ammonta al 31 dicembre 2022 a 42.623 migliaia di Euro ed \u00e8 costituito da n. 163.934.835 azioni ordinarie del valore nominale di Euro 0,26 cadauna. Nel corso dell\u2019esercizio 2022 sono stati pagati i dividendi deliberati nell\u2019assemblea di Emak S.p.A. del 29 aprile 2022 relativi all\u2019esercizio 2021 per complessivi 12.266 migliaia di Euro. Al 31 dicembre 2021, la Societ\u00e0 deteneva in portafoglio numero 397.233 azioni proprie per un controvalore pari a 2.029 migliaia di Euro. A seguito dell\u2019autorizzazione conferita dall\u2019Assemblea degli Azionisti in data 29 aprile 2022, Emak S.p.A. ha effettuato acquisti sul mercato di azioni proprie. Nel corso dell\u2019ultimo trimestre dell\u2019esercizio 2022 la societ\u00e0 ha acquistato n. 700.000 azioni proprie per un controvalore di 806 migliaia di Euro. Pertanto, al 31 dicembre 2022 la societ\u00e0 detiene n. 1.097.233 azioni proprie in portafoglio per un controvalore di 2.835 migliaia di Euro. Nel corso dei mesi di gennaio e febbraio 2023 non si sono verificate variazioni nella consistenza del portafoglio di azioni proprie. 31.12.2022 31.12.2021 Numero azioni ordinarie 163.934.835 163.934.835 Azioni proprie in portafoglio (1.097.233) (397.233) Totale azioni in circolazione 162.837.602 163.537.602 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTreasurySharesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-408": {
   "value": "39. Azioni ordinarie, azioni proprie e dividendi Il capitale sociale, interamente versato, ammonta al 31 dicembre 2022 a 42.623 migliaia di Euro ed \u00e8 costituito da n. 163.934.835 azioni ordinarie del valore nominale di Euro 0,26 cadauna. Nel corso dell\u2019esercizio 2022 sono stati pagati i dividendi deliberati nell\u2019assemblea di Emak S.p.A. del 29 aprile 2022 relativi all\u2019esercizio 2021 per complessivi 12.266 migliaia di Euro. Al 31 dicembre 2021, la Societ\u00e0 deteneva in portafoglio numero 397.233 azioni proprie per un controvalore pari a 2.029 migliaia di Euro. A seguito dell\u2019autorizzazione conferita dall\u2019Assemblea degli Azionisti in data 29 aprile 2022, Emak S.p.A. ha effettuato acquisti sul mercato di azioni proprie. Nel corso dell\u2019ultimo trimestre dell\u2019esercizio 2022 la societ\u00e0 ha acquistato n. 700.000 azioni proprie per un controvalore di 806 migliaia di Euro. Pertanto, al 31 dicembre 2022 la societ\u00e0 detiene n. 1.097.233 azioni proprie in portafoglio per un controvalore di 2.835 migliaia di Euro. Nel corso dei mesi di gennaio e febbraio 2023 non si sono verificate variazioni nella consistenza del portafoglio di azioni proprie. 31.12.2022 31.12.2021 Numero azioni ordinarie 163.934.835 163.934.835 Azioni proprie in portafoglio (1.097.233) (397.233) Totale azioni in circolazione 162.837.602 163.537.602 ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-352": {
   "value": "40. Operazioni con parti correlate Le operazioni compiute con parti correlate dal Gruppo Emak nell\u2019esercizio 2022 riguardano principalmente tre diverse tipologie di rapporti di natura usuale, rientranti nell\u2019ordinario esercizio dell\u2019attivit\u00e0, regolate a normali condizioni di mercato. In primo luogo, si tratta di scambi di beni e di prestazioni di servizio di natura industriale ed immobiliare, rispondenti ad una stringente logica e finalit\u00e0 produttiva, intrattenute con la controllante YAMA S.p.A. e con talune societ\u00e0 da questa controllate. Da un lato, tra le societ\u00e0 sotto il diretto controllo di Yama, alcune hanno fornito  nel  corso  dell\u2019esercizio  al  Gruppo  Emak  componenti  e  materiali  di  produzione,  nonch\u00e9  servizi  di locazione di superfici industriali. Dai rapporti di locazione immobiliare passiva intrattenuti con la consociata Yama Immobiliare S.r.l., derivano, in  particolare, importi  di entit\u00e0 significativa di Diritti d\u2019uso, pari a 13.860 migliaia  di  Euro,  di  Passivit\u00e0  derivanti  da  lease,  pari  a  14.459  migliaia  di  Euro,  di  Svalutazioni  ed ammortamenti, pari a 1.741 migliaia di Euro, e di Oneri finanziari, pari a 366 migliaia di Euro, in conformit\u00e0 al principio contabile IFRS 16, propriamente identificati nei prospetti di bilancio. Per converso, alcune societ\u00e0 del Gruppo Yama hanno acquistato dal Gruppo Emak prodotti di completamento della loro rispettiva gamma di offerta commerciale. In secondo luogo, correlazioni di natura tributaria e di carattere usuale derivano dalla partecipazione della Capogruppo Emak S.p.A. e delle controllate Comet S.p.A., Tecomec S.r.l., Sabart S.r.l., PTC S.r.l e Lavorwash S.p.A. al regime di consolidato fiscale ex artt. 117 e segg., TUIR, intercorrente con Yama S.p.A., quest\u2019ultima in qualit\u00e0 di consolidante. I criteri e le modalit\u00e0 di regolamento di tali rapporti sono stabiliti e formalizzati in accordi di consolidamento, fondati sulla parit\u00e0 di trattamento tra i partecipanti. L\u2019ammontare dei saldi con parti correlate, relativi ai rapporti di consolidato fiscale, sono esposti alle note 24 e 29. Un ulteriore ambito di rapporti con \u201caltre parti correlate\u201d deriva da prestazioni di servizi professionali di natura legale e tributaria, resi da entit\u00e0 soggette ad influenza notevole da parte di un amministratore non esecutivo. La natura e l\u2019entit\u00e0 delle operazioni di natura usuale e ricorrente fin qui descritte, \u00e8 rappresentata nelle due tabelle che seguono. Vendite di beni e servizi, crediti commerciali e diversi, rapporti finanziari: Acquisto di beni e servizi, debiti commerciali e diversi: Con riguardo a valori che sono scaturiti in precedenti esercizi da operazioni con parti correlate, si precisa che l\u2019attivo patrimoniale tuttora espone avviamenti pari a 9.914 migliaia  di  Euro (12.823 migliaia di  Euro  al  31 dicembre 2021). Tali valori derivano dalla c.d. operazione Greenfield attraverso la quale il Gruppo Emak, in data 23/12/2011, ha acquisito dalla controllante Yama S.p.A. il controllo totalitario del Gruppo Tecomec, del Gruppo Comet, di Sabart S.r.l. e, prima di allora, dall\u2019acquisizione della societ\u00e0 Tailong, avvenuta nel 2008 il Dati in migliaia di Euro Ricavi di vendita Altri ricavi operativi Crediti commerciali Altri crediti per consolidato fiscale Totale crediti commerciali e altri crediti Ricavi finanziari Attivit\u00e0 finanziarie correnti Attivit\u00e0 finanziarie non correnti Euro Reflex D.o.o. 936                      -    335                       -    335                       1                       -                          -   Garmec S.r.l. 106  1  1                       -    1                      -                         -                          -   Selettra S.r.l.                      3                      -                      4                       -                       4                      -                         -                          -   Yama Immobiliare S.r.l.                     -                        1                    52                       -                     52                      -                         -                          -   Yama S.p.A.                    -                      10                    12                     675  687                      -   37  111 Totale  (note 24 e 27) 1.045  12  404  675  1.079  1  37  111 Dati in migliaia di Euro Acquisto materie prime e di consumo Altri costi operativi Debiti commerciali Altri debiti per consolidato fiscale Totale debiti commerciali e altre passivit\u00e0 Oneri finanziari Passivit\u00e0 derivante da lease correnti Passivit\u00e0 derivante da lease non correnti Euro Reflex D.o.o. 2.314  38  400                        -    400                       -                          -                           -   Garmec S.r.l. 21                     -                       4                        -                        4                       -                         -                           -   Selettra S.r.l. 117  9                   52                        -    52                      -                         -                           -   Yama Immobiliare S.r.l.                    -                        -                       3                        -                        3                   366                  1.670 12.789 Yama S.p.A.                    -                        -                      -                       536  536                      -                         -                           -   Altre parti correlate                     -                     479                 238                        -   238                      -                         -                           -   Totale  (nota 29) 2.452  526  697  536  1.233  366  1.670  12.789 cui avviamento, pari a 2.957 migliaia di Euro, \u00e8 stato completamente svalutato nel esercizio 2022 a seguito  del test di impairment. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-444": {
   "value": "40. Operazioni con parti correlate Le operazioni compiute con parti correlate dal Gruppo Emak nell\u2019esercizio 2022 riguardano principalmente tre diverse tipologie di rapporti di natura usuale, rientranti nell\u2019ordinario esercizio dell\u2019attivit\u00e0, regolate a normali condizioni di mercato. In primo luogo, si tratta di scambi di beni e di prestazioni di servizio di natura industriale ed immobiliare, rispondenti ad una stringente logica e finalit\u00e0 produttiva, intrattenute con la controllante YAMA S.p.A. e con talune societ\u00e0 da questa controllate. Da un lato, tra le societ\u00e0 sotto il diretto controllo di Yama, alcune hanno fornito  nel  corso  dell\u2019esercizio  al  Gruppo  Emak  componenti  e  materiali  di  produzione,  nonch\u00e9  servizi  di locazione di superfici industriali. Dai rapporti di locazione immobiliare passiva intrattenuti con la consociata Yama Immobiliare S.r.l., derivano, in  particolare, importi  di entit\u00e0 significativa di Diritti d\u2019uso, pari a 13.860 migliaia  di  Euro,  di  Passivit\u00e0  derivanti  da  lease,  pari  a  14.459  migliaia  di  Euro,  di  Svalutazioni  ed ammortamenti, pari a 1.741 migliaia di Euro, e di Oneri finanziari, pari a 366 migliaia di Euro, in conformit\u00e0 al principio contabile IFRS 16, propriamente identificati nei prospetti di bilancio. Per converso, alcune societ\u00e0 del Gruppo Yama hanno acquistato dal Gruppo Emak prodotti di completamento della loro rispettiva gamma di offerta commerciale. In secondo luogo, correlazioni di natura tributaria e di carattere usuale derivano dalla partecipazione della Capogruppo Emak S.p.A. e delle controllate Comet S.p.A., Tecomec S.r.l., Sabart S.r.l., PTC S.r.l e Lavorwash S.p.A. al regime di consolidato fiscale ex artt. 117 e segg., TUIR, intercorrente con Yama S.p.A., quest\u2019ultima in qualit\u00e0 di consolidante. I criteri e le modalit\u00e0 di regolamento di tali rapporti sono stabiliti e formalizzati in accordi di consolidamento, fondati sulla parit\u00e0 di trattamento tra i partecipanti. L\u2019ammontare dei saldi con parti correlate, relativi ai rapporti di consolidato fiscale, sono esposti alle note 24 e 29. Un ulteriore ambito di rapporti con \u201caltre parti correlate\u201d deriva da prestazioni di servizi professionali di natura legale e tributaria, resi da entit\u00e0 soggette ad influenza notevole da parte di un amministratore non esecutivo. ",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  },
  "fact-353": {
   "value": "42. Eventi successivi Per la descrizione degli eventi successivi si rimanda alla Nota 15 della Relazione sulla gestione. ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory",
    "language": "it",
    "entity": "scheme:815600A9C09D82FF2B66",
    "period": "2022-01-01T00:00:00/2023-01-01T00:00:00"
   }
  }
 }
}